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☆ 'Sell the first rate cut': Bank of America's top global strategist warns stocks could be in for trouble as the economy heads toward a hard landing and the Fed gets set to slash rates
▼ + stars: | 2024-08-06 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

In an August 1 note to clients, the bank's top global strategist urged investors to sell stocks when the Federal Reserve issues its first rate cut. Hartnett and his team studied the last 12 rate-cutting cycles going back to 1970 and identified three varieties of rate cuts. Hartnett said surging global central bank rate cuts are signs that the economy is in for a rough stretch. Investors expect the Fed to cut rates for the first time this cycle at its September meeting. "Emergency Fed rate cuts being priced in makes little sense given the economic backdrop in the U.S. and would only serve to destroy policy maker credibility."

Persons: —, America's Michael Hartnett, Hartnett, Louis, Jean, Louis Nakamura, Michael Kantrowitz, Piper Sandler, Kantrowitz, Hartnett's, Jim Smigiel Organizations: Service, America's, Federal Reserve, Business, Bank of America Bank of America, Bank of America, Louis Fed, Bank of America's, Global, SEI Locations: U.S

Editor’s Note: A version of this story appears in CNN’s Meanwhile in the Middle East newsletter, a three-times-a-week look inside the region’s biggest stories. Such escalation could also jeopardize efforts to reach a ceasefire in Gaza and release hostages, despite recent progress in negotiations. Israeli Defense Minister Yoav Gallant and US Secretary of Defense Lloyd Austin discussed comprehensive security strategies to protect Israel, according to a statement on Monday. Israel was considering its options to prepare for a regional attack over the weekend. The country braces for war in its own way and tends to pick up after itself.

Persons: Ayatollah Ali Khamenei, Ismail Haniyeh, ”, Israel, Israel hasn’t, “, Yoav Gallant, Defense Lloyd Austin, Michael Kurilla, Kurilla, Ayman Safadi, Badr Abdelatti, Ali Bagheri Kani, ‘, Masoud Pezeshkian, Safadi, Nasser Kanaani, Fu’ad Shukr, Majdal Shams, Hassan Nasrallah, Benjamin Netanyahu, ” “, ” Netanyahu, Ali Bagheri, Netanyahu, Gallant, Daniel Hagari, Lebanon scrambledto, floaties, Samer Othman, Jalaa Marey, Othman, Liz Nicholas, David Adom, Be’er, Ivana Reiser, Zeev Jabotinsky, Naama, ” Be’er, ” Baer, Reiser, Roy Dror, Ron Heckmann, they’re, Dror, ” Heckmann, Uri Shacham, Shacham Organizations: Jerusalem CNN —, Iran’s, Islamic Revolutionary Guard Corps, Saturday, US, Israeli, Defense, US Central Command, Jordanian, Egypt’s, Zionist, Israel, Iran, Sunday, Getty Images Israel, Hezbollah, CNN, Mount, Mount Herzl Military, Getty, MDA Locations: Beirut, Tel Aviv, Jerusalem, Israel, Iran, Tehran, Lebanon, Gaza, United States, Syria, Majdal, Golan, ”, AFP, Cairo, Lebanese, Beirut’s, Mount Herzl, London, Nahariyah

☆ Using a 'bear put spread' to hedge against further market declines
▼ + stars: | 2024-08-05 | by ( Michael Khouw | ) www.cnbc.com time to read: +5 min

The S & P 500 5,350 puts I discussed are trading nearly $170 as I write this, up ~ $12,000 per contract. This is even though the S & P 500 is down only 2.3% since I wrote that article over a month ago. One could roll those options down and out to the September 5200/4500 S & P 500 put spread which costs about $100. If you didn't read the earlier article, here are the components of a long put spread, sometimes referred to as a "Bear Put Spread." In periods of high implied volatility, option premiums are generally higher because the market anticipates larger price movements.

Persons: It's, Joe Biden, Kamala Harris, it's, Trump Organizations: Starbucks, CNBC, NBC UNIVERSAL, ~ $, & $ $

☆ 2 recession indicators with perfect track records show the US just entered a downturn — opening the door for stocks to plummet as the Fed gets set to cut rates
▼ + stars: | 2024-08-03 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

AdvertisementSt. Louis FedDespite the Sahm Rule's impressive history, it is sometimes criticized because it fails to account for rising labor participation, which can raise the unemployment rate. In addition to downcast labor market data, the ISM Manufacturing Index fell further into contraction territory this week, signaling that US manufacturing continues to slow. The market's direction also depends on how investors interpret interest rate cuts alongside future data. Fed funds rate futures markets are now pricing in a 50-basis-point cut in September, according to the CME FedWatch Tool. AdvertisementHartnett and his team analyzed Fed rate-cutting cycles and identified three different types of rate cuts — cuts into a soft landing, cuts into a hard landing, and panic cuts, which are due to a credit event or some sort of Wall Street crisis.

Persons: —, Claudia Sahm —, Louis Fed, Piper Sandler, Tom Essaye, Jack McIntyre, Lara Castleton, Janus Henderson, Michael Kantrowitz, we've, Kantrowitz, Michael Hartnett, Hartnett Organizations: Service, Bureau of Labor Statistics, Business, Labor, Brandywine Global, ISM, Nasdaq, Fed, Janus, Janus Henderson Investors, Bank of America, Fund

☆ Wall Street will look for signs of what's next for the market after a rocky start to August
▼ + stars: | 2024-08-02 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

The S & P 500 ended the week down by 2%. As of Friday, the Nasdaq Composite was more than 10% below its recent high, while the S & P 500 was down by 5.7%. Markets were last pricing in a 71% chance of a half percentage point rate cut in September, up from 22% on Thursday, according to the CME FedWatch Tool . Brands , Fidelity National Information Services , Uber Technologies , Marathon Petroleum , Caterpillar Wednesday Aug. 7 3 p.m. Consumer Credit (June) Earnings: Costco Wholesale , Warner Bros. Discovery , Occidental Petroleum , Ralph Lauren , CVS Health , Hilton Worldwide Holdings , Walt Disney Company Thursday Aug. 8 8:30 a.m.

Persons: Stocks, payrolls, Bill Hornbarger, Benjamin F, Edwards, Russell, Claudia Sahm, selloff, Michael Kantrowitz, Piper Sandler, Kantrowitz, Jan Hatzius, Goldman Sachs, Hatzius, CNBC's, Eli Lilly, Ralph Lauren, Martin Marietta Organizations: Nasdaq, Treasury, Investors, Federal Reserve, Walt Disney Company, Caterpillar, Costco, Micro Computer, PMI, PMI Services, Services PMI, Simon Property Group, Diamondback Energy, Tyson Foods, Devon Energy, Airbnb, Wynn Resorts, TransDigm, Brands, Fidelity National Information Services, Uber Technologies, Marathon Petroleum, Consumer Credit, Costco Wholesale, Warner Bros, Discovery, Occidental Petroleum, CVS Health, Hilton Worldwide Holdings, Gilead Sciences, Akamai Technologies, News Corp, Paramount Global, Expedia, Martin, Martin Marietta Materials Locations: Fortinet, Devon

☆ Meta in Talks to Use Voices of Judi Dench, Awkwafina and Others for A.I.
▼ + stars: | 2024-08-02 | by ( Mike Isaac | Nicole Sperling | ) www.nytimes.com time to read: +1 min

Meta is in discussions with Awkwafina, Judi Dench and other actors and influencers for the right to incorporate their voices into a digital assistant product called MetaAI, according to three people with knowledge of the talks, as the company pushes to build more products that feature artificial intelligence. Apart from Ms. Dench and Awkwafina, Meta is in talks with the comedian Keegan-Michael Key and other celebrities, said the people, who spoke on the condition of anonymity because the discussions are private. The talks remain fluid, and it is unclear which actors and influencers, if any, may sign on to the project, the people said. If the parties come to an agreement, Meta could pay millions of dollars in fees to the actors. Meta, which owns Facebook, Instagram and WhatsApp, has invested heavily in artificial intelligence, which the biggest tech companies are racing to develop and lead.

Persons: Awkwafina, Judi Dench, Dench, Keegan, Michael Key Organizations: Meta, Bloomberg

☆ Markets will remain under pressure if unemployment accelerates, says Piper Sandler's Kantrowitz
▼ + stars: | 2024-08-02 | 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 EmailMarkets will remain under pressure if unemployment accelerates, says Piper Sandler's KantrowitzMichael Kantrowitz, Piper Sandler chief investment strategist, joins 'Closing Bell: Overtime' to discuss the strategist's reaction to recent market performance, the correlation between interest rates and stocks, and much more.

Persons: Piper Sandler's Kantrowitz Michael Kantrowitz, Piper Sandler

☆ Reddit has acquired an AI startup to beef up its ad business in a deal worth around $40 million
▼ + stars: | 2024-08-01 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +3 min

This story is available exclusively to Business Insider subscribers. Brands like Unilever, L'Oréal, and NotCo pay Memorable AI an annual fee to use its tools. The company said this allows advertisers to reduce the time they would usually spend testing and optimizing ad creative, the company said. Related storiesThe Memorable AI team has joined Reddit as part of the acquisition. AdvertisementIts ads business is growing, but still tiny compared to Google, Meta, Amazon, and TikTok.

Persons: —, Reddit, van, Cofounders Camilo Fosto, Sebastian Acevedo, Michael Kassan, Brian O'Kelley, hasn't Organizations: Service, Business, Harvard, Stanford, MIT, Brands, Unilever, L'Oréal, Aperiam Ventures, Bertelsmann Digital Media Investments, LDV, Ventures, Google Locations: New York

☆ Here's why Amazon's messy second quarter doesn't change our outlook on the stock
▼ + stars: | 2024-08-01 | by ( Jeff Marks | ) www.cnbc.com time to read: +9 min

With AWS humming and management identifying more ways to lower its cost to serve, Amazon's profitability story is still intact. Olsavsky said the profitability of North America stores improved quarter over quarter, driven by further improvements in its cost to serve. The company expects net sales of $154 billion to $158.5 billion, an increase of 8% to 11% year over year. The high end of guidance captures the consensus of $158.2 billion, but it's a miss on the analysts' consensus of $156.25 billion. Management expects operating income of $11.5 billion to $15 billion, which at a midpoint of $13.25 billion misses the consensus of $15.34 billion.

Persons: hasn't, Andy Jassy, Jassy, There's, Brian Olsavsky, Olsavsky, it's, Jim Cramer's, Jim Cramer, Jim, Michael Kappeler Organizations: Revenue, LSEG, Walmart, Target, Microsoft, Web Services, AWS, North, Amazon, Management, CNBC, Getty Locations: North America, Manhattan

☆ An options trade on an oil giant before earnings with crude on the move higher
▼ + stars: | 2024-08-01 | by ( Michael Khouw | ) www.cnbc.com time to read: +4 min

Over the past couple of weeks, energy stocks have outperformed as investors have moved away from technology, consumer discretionary and, well, everything else. I'll breaking down my market view and then describe a possible trade on a big energy stock into earnings. Several energy companies, including the three largest US-based integrated oil companies, report earnings this week. Exxon is up slightly this week as oil inches higher on Middle East tensions. XOM YTD mountain Exxon, year-to-date Crude prices and energy stocks are, technically, mixed bags.

Persons: I've, Brent, that's Organizations: Exxon Mobil, Chevron, Exxon, CNBC, NBC UNIVERSAL

Mr. Shapiro had been expected to headline three different events throughout the wealthy New York island towns, according to invitations seen by the Times. But gradually, throughout Wednesday, hosts were informed that Mr. Shapiro would no longer take part, according to two people briefed on the matter. “His schedule has changed, and he is no longer traveling to the Hamptons this weekend.”It is unclear why precisely the trip was canceled. Michael Kempner, who was supposed to host one of the events for Mr. Shapiro’s campaign committee, said he had been told that Mr. Shapiro needed to be with his family in Pennsylvania. Another event was a “summer soiree” expected to be held for a liberal youth-advocacy organization called The Next 50, where Mr. Shapiro was marketed as a “special guest.”

Persons: Josh Shapiro, Kamala Harris’s, Harris, Shapiro, Mr, ”, Manuel Bonder, “, Michael Kempner, Shapiro’s Organizations: Pennsylvania, Hamptons, Times, Gov Locations: New York, Pennsylvania

☆ These homeowners are ‘hacking’ their pools and lawns to earn extra cash
▼ + stars: | 2024-07-29 | by ( Samantha Delouya | ) edition.cnn.com time to read: +5 min

Now, newer offerings allow homeowners to rent out portions of their homes on an even shorter-term basis, often by the hour. One of these platforms is Swimply, an online marketplace for private pool rentals that launched in 2020, just as the pandemic halted travel and more people looked to get their kicks locally. Peer-to-peer rental marketplaces of all kinds have popped up: RentMyCourt (private tennis and pickleball court rentals), SniffSpot (backyard rentals for dogs), CurbFlip (driveway and parking space rentals) and Vanly (driveway and shower rentals for people traveling in camper vans or RVs). Younger homebuyers are keenly aware of the opportunity to offset their expenses with extra cash. While the extra income is a focus for many homeowners, some participating in this budding industry say they’ve found something unexpected: community.

Persons: Alexis Hammond, ” Hammond, Hammond, she’s, it’s, Kellie Finch, Michael Kukuk, Kukuk, “, ” Swimply, ” Derek Callow, homebuyers, Peerspace, Rony Chammas, they’ve, Leslie Garabedian's, Stevie, Eddie, Leslie Garabedian Leslie Garabedian, West, ”, Garabedian, ” Garabedian Organizations: CNN, Baltimore, Baltimore Ravens, SniffSpot Locations: Peerspace, Houston, West Caldwell , New Jersey

☆ Traders expect a monster 18% move in Carvana post earnings this week. How to play it
▼ + stars: | 2024-07-29 | by ( Michael Khouw | ) www.cnbc.com time to read: +5 min

It reports earnings this week and traders are expecting a monster move. Customers can browse a large inventory of used vehicles on Carvana's website, complete with detailed photos, 360-degree views, and vehicle history reports. Their model eliminates most of the negative associations of used car dealers by offering convenience, transparency, and a hassle-free car buying experience without the used car salesman. The company's stock fell more than 80% from February 2020 in the pandemic plunge before rallying 1600% on record used car margins caused by supply constraints due to pandemic shutdowns. CVNA YTD mountain Carvana (YTD) Carvana will report earnings this coming Wednesday after the bell and the 18% earnings-related implied move ranks near the top of the Russell 1000 companies regarding earnings volatility.

Persons: Carvana, Russell, I'm Organizations: Carvana, Machines, CNBC, NBC UNIVERSAL

☆ The great America-Australia relay rivalry gets another worthy chapter in Paris
▼ + stars: | 2024-07-27 | by ( Matthew Futterman | ) www.nytimes.com time to read: +7 min

That was in 2000 in Sydney in the men’s 4×100, at a time when the American men were untouchable at the distance. Australia’s Michael Klim plays lead guitar while Ian Thorpe, right, looks on after the Australians beat the U.S. in the 4×100 freestyle relay in Sydney in 2000. The Chinese men led early but faded. Far and away the dominant swimming nation, American men won the 4×100 freestyle from 1964 until the air guitar incident in 2000. American women won it 14 times from 1924 to 2000.

Persons: That’s, There’s, Gary Hall Jr, Ian Thorpe, Australia’s Michael Klim, Al Bello, Meg Harris of, ’, Simone Manuel of, who’d, glumly, Kate Douglass, Gretchen Walsh, Torri, Hunter Armstrong, Qin Haiyang, Manuel, “, ”, Meg Harris, Mollie O’Callaghan, Quinn Rooney, it’s, Cate Campbell, Emma McKeon, Caeleb Dressel, ” Dressel, Armstrong, Dressel, Ian MacNicol Organizations: Paris Games, Australia, U.S, Getty, New York Times, ARD, FBI, Doping Agency, International Olympic, Aussie, Tokyo, “ Locations: France, Sydney, Meg Harris of Australia, U.S, Tokyo, Salt Lake City, Utah, Australian, Australia, United States, Paris

☆ Insider Today: Millennials living like retirees
▼ + stars: | 2024-07-27 | by ( Joi-Marie Mckenzie | ) www.businessinsider.com time to read: +7 min

Rachel Askinasi; Alyssa Powell/BIA worthy power lunchKeens Steakhouse, a New York City institution, has been luring power lunchers for years. iStock; Rebecca Zisser/BIDeals we loveQuality seafood straight to your door: After testing dozens of options, we found the 13 best seafood delivery services for sustainable, fresh, and tasty fish. After testing dozens of options, we found the 13 best seafood delivery services for sustainable, fresh, and tasty fish. Dodge the power outages: With extreme weather conditions knocking out power nationwide, a portable generator is a must. More of this week's top reads:The Insider Today team: Joi-Marie McKenzie, editor in chief of life, in New York.

Persons: —, Taylor Bannks, Bernat, Pont Alexandre III, Samantha Grindell, Estée Lauder, Sunny Choi, Choi, Mykenna Maniece, Cristo Rei, Getty, Jose M, Tyler Le, Rachel Askinasi, Alyssa Powell, Gareth Cattermole, Anna Blazhuk, Lew Robertson, Ryan Reynolds, Reynolds, Hugh Jackman, Don Saladino, Saladino, Giulia Parmigiani, Natalie Ammari, Lou Pearlman, Knox, Michael Keaton, Rebecca Zisser, Joi, Marie McKenzie, Jordan Parker Erb, Dan DeFrancesco, Lisa Ryan, Amanda Yen Organizations: Service, Yorker, Business, Marathon, Olympics, Timor Leste Getty, Creativ, Heinemann, Netflix, Backstreet Boys, Backstreet Locations: Paris, City, Versailles, Cristo Rei Dili, Timor Leste, Kenya, Taiwan, Wales, New York City, Italy, New York

☆ The 7 best things to stream this weekend, from a Netflix comedy about the bubonic plague to the first Olympic events
▼ + stars: | 2024-07-26 | by ( Caralynn Matassa | ) www.businessinsider.com time to read: +1 min

Documentaries like "Dirty Pop" and "Charlie Hustle & The Matter of Pete Rose" are also streaming. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementIf offbeat, dark comedies are your jam, you need to check out "The Decameron" on Netflix this weekend. Max also has a few new titles, like the Michael Keaton thriller "Knox Goes Away" and the baseball docuseries "Charlie Hustle & The Matter of Pete Rose."

Persons: Charlie Hustle, Pete Rose, —, Lou Pearlman, Max, Michael Keaton, Knox Organizations: Netflix, Service, Business

“This will be the first Olympics, since Sydney, where the total costs are coming in under $10 billion,” said Victor Matheson, a College of the Holy Cross professor of economics who has researched the financial costs of the Olympics. Workmen adjust banners on the 3x3 basketball venue located at La Concorde, in Paris, ahead of the 2024 Olympic Games. Additionally, the Paris Olympic Village will be converted into offices and housing in a historically impoverished neighborhood. Still, economists say, it may take more drastic moves in the future for the Olympics to be truly sustainable and economically sound. “I love the Olympics, and I love sporting events, but I just really do not think that the way the Olympics works now is a viable business model,” Phalin said.

Persons: ”, Victor Matheson, “, “ It’s, David Gray, Andrew Zimbalist, ” Zimbalist, Michael Kappeler, it’ll, Fabrice Coffrini, Zimbalist, ‘, Amanda Phalin, Christian Petersen, I’m, ” Phalin, you’ve, it’s, Andrew Medichini, shuttlecocks, Matheson, Phalin Organizations: CNN, Olympic, Paralympic Games, Paris Games, of, IOC, La Concorde, Getty, Mexico City Games, Montreal Games, Smith College, Olympics, Oxford University, Audit Board, Tokyo, Eiffel, Paris, University of Florida’s Warrington College of Business, Games, of Investment, Development Authority, French, ” Workers, Palais, AP Paris Locations: Paris, Sydney, La, AFP, Mexico, Munich, ” Los Angeles, Tehran, Beijing, Sochi, France, “, Lake Placid , New York, Lake Placid, ”, Los Angeles, Oklahoma

☆ An opportunity may be emerging in this beaten-down potato stock. Using options to capitalize
▼ + stars: | 2024-07-25 | by ( Michael Khouw | ) www.cnbc.com time to read: +5 min

Lamb Weston was the worst-performing stock in the S & P 500 on Wednesday on the back of disappointing quarterly results. The Idaho-based supplier of frozen potato, sweet potato, appetizer and vegetable products to restaurants said fully diluted earnings per share fell more than 70% from the year-earlier period. Consequently, the stock price fell over 28% on Wednesday. At ~ 1.2x price to sales, Lamb Weston is the cheapest it has been in the past ten years. Some of that increase is justifiable; the company demonstrated considerably higher operating volatility than they or investors expected, and the debt-to-equity increase as a function of the stock price decline is also a contributor.

Persons: Lamb Weston, they're, Berkshire Hathaway, Charlie Munger Organizations: Berkshire, CNBC, NBC UNIVERSAL Locations: Idaho

☆ Nvidia, Amazon, Microsoft, and Paramount execs discuss the use of AI in Hollywood. Here are 9 startups they're watching.
▼ + stars: | 2024-07-24 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +9 min

Read previewStartups are rushing to create the best artificial intelligence video generation tools and convince Hollywood that AI won't decimate the creative industries. But, the most common early use of AI in entertainment is often more mundane than reverse-aging Harrison Ford to simulate a younger Indiana Jones. When top executives at the intersection of AI and entertainment met at the virtual Digital Hollywood summit on Monday, the use cases for AI in Hollywood were decidedly deeper in the details. These are some of the startups AI and entertainment leaders have their eyes on. Justin Sullivan/Getty ImagesLuma AI, another image generation AI startup Bakhtar named, has raised more than $68 million according to Bain, with recent backing from Andreessen Horowitz.

Persons: —, Harrison Ford, Indiana Jones, They're, Panah Bakhtiar, we're, Phil, Alejandro Matamala, Ortiz, Anastasis Germanidis, Cristóbal Valenzuela, Krikey, Bakhtar, Marc Andreessen, Justin Sullivan, Bain, Andreessen Horowitz, Amit Jain, xMentium, Eliot Sakhartov, Speechmatics Michael Kaplan, Oleg Elkov, Nvidia's Kaplan, Sakhartov, Jensen Huang, Reid Hoffman, Huang, Kaplan Organizations: Service, Hollywood, Business, Paramount, Companies, Microsoft, AWS, Nvidia, Runway, Google, Apple Vision Pro Locations: London, New York, Taiwan

☆ How Truth Social could make former President Trump billions before turning a profit
▼ + stars: | 2024-07-24 | by ( Carlos Waters | In Carloswaters | ) www.cnbc.com time to read: +2 min

Truth Social is a social media platform whose majority owner is former President Donald Trump. The public has limited access to Truth Social's usage data, which drives advertising sales, a key metric for success at Truth Social. Truth Social's parent company, Trump Media & Technology Group, is the product of a blank-check merger with a special purpose acquisition company, or SPAC, which was completed in March 2024. Securities and Exchange Commission filings for Trump Media & Technology Group mention a variety of risks, including that it could potentially fail to live up to its promise to generate users and advertisers. Watch the video above to learn more about Truth Social and its parent company, Trump Media & Technology Group.

Persons: Donald Trump, Michael Klausner Organizations: Truth, CNBC, Trump Media & Technology Group, Trump, TMTG's, Acquisition Corporation, Investors, Stanford Law School, Securities, Exchange, Trump Media & Technology, Social

☆ A 'Trump trade' hedge using options
▼ + stars: | 2024-07-22 | by ( Michael Khouw | ) www.cnbc.com time to read: +3 min

The reason this matters to investors is the so-called Trump trade. The stock market did very well following former President Donald Trump's victory over Hillary Clinton in November 2016, but smaller businesses, in particular, were beneficiaries. When we listen to some of the policy ideas that Trump has discussed, such as measures intended to protect smaller U.S.-based businesses, companies in the small-cap Russell 2000 index stand to benefit. Since the June 27 debate, the Russell 2000 has outperformed the S & P 500 by more than 6 percentage points. So, investors must acknowledge that if Trump's path to victory against Harris or a potential unknown pinch-hitter is less certain, then uncertainty must, by extension, apply to the Trump trade.

Persons: Joe Biden, Biden, Kamala Harris, Donald Trump's, Hillary Clinton, Trump, Russell, Harris, — Organizations: Trump, CNBC, NBC UNIVERSAL Locations: IWM

☆ AOC rallies to Biden's side as progressives split over backing his 2024 campaign
▼ + stars: | 2024-07-19 | by ( Michael Kosnar | Ken Dilanian | ) www.cnbc.com time to read: +7 min

But she warned that things could get more chaotic for Democrats if Biden were to make the extraordinary move to end his campaign just weeks before the Democratic convention. In a twist for the left-leaning Ocasio-Cortez, her comments make her among the more forceful pro-Biden voices in the party right now. Many progressives, including Ocasio-Cortez and Sen. Bernie Sanders, I-Vt., are primarily driven by policy goals and know they have Biden's ear. The strategist said part of the reason progressives like Ocasio-Cortez are backing Biden is the "bird in hand phenomenon" — there's a "comfort level" with Biden in the White House. Ocasio-Cortez also cautioned followers that Biden has unique electoral strengths that other Democrats cannot expect to replicate.

Persons: Joe Biden, Alexandria Ocasio, Donald Trump, Biden, Clarence Thomas, Cortez, wasn't, Sen, Bernie Sanders, Kamala Harris, Mark Pocan, Pocan, Harris, Kamala —, Harris —, It's, Lisa Lint, Vander, it's Organizations: Rep, Biden, Democrats, Democratic, Trump, Congressional Progressive Caucus, CPC, Grand Rapids, Twitter Locations: Alexandria, Cortez, Grand

☆ Inspired by Muhammad Ali, meet the judo star who fled civil war conscription in Syria and will now compete at the Paris Olympics
▼ + stars: | 2024-07-18 | by ( Rory Fleming | ) edition.cnn.com time to read: +11 min

“He was someone who stood up and said ‘no.’ To have that sort of strength was something that inspired me,” says Adnan Khankan ahead of his Olympic judo debut in Paris later this month. Ed Kolenovsky/APConscription into the Syrian Army“I didn’t see it as my war, how could it be when it was Syrian people killing other Syrian people? The Syrian Civil War, which initially broke out in 2011, is now considered the biggest humanitarian crisis since World War II. Michael Kappeler/picture-alliance/dpa/AP“It really motivated me when I found out about the existence of a refugee team,” said Khankan. Adnan Khankan“The refugee team speak different languages, are different ethnicities, come from different cultures, but we are all one team competing together.

Persons: CNN — It’s, Muhammad Ali, Brown, ”, Ali, Adnan Khankan, Khankan, Bashar al, spiralled, ” Khankan, Ed Kolenovsky, Bashar Al, Assad, Diaa Al, “, ” Adnan Khankan, Kirill Kudryavtsev, Mardini, Yusra Mardini, Michael Kappeler, Marius Vizer, Adnan, “ Adnan, Vizer, Adnan Khankan “, I’ve Organizations: CNN, International Olympic Committee, Syrian Army, CNN Sport, Al, Free Syrian Army, Reuters, taekwondo, Getty, Rio Olympics, IOC, Rio, Tokyo, Japan, Judo, International Judo Federation, UNHCR, “, Olympic Locations: Vietnam, America, Paris, Cologne, Germany, Damascus, Syria, Houston, Arbeen, Ghouta, Tashkent, AFP, Turkey, Bulgaria, Serbia, Bosnia, Croatia, Hungarian, Cairo, Tokyo, Europe, Ukraine, Gaza, Sudan, East, Africa, Iran, Afghanistan, Cuba

☆ Starbucks could give a much-needed jolt to the EV market
▼ + stars: | 2024-07-18 | by ( Ana Altchek | ) www.businessinsider.com time to read: +5 min

Read previewMercedes-Benz is bringing its fast electric vehicle charging stations to 100 Starbucks locations. The charging stations will be accessible to all EV owners. But for EV owners, it's a major roadblock hindering widespread adoption. Related storiesA company spokesperson told Business Insider that by 2030, it hopes to lead the retail industry in decarbonization solutions. The Starbucks spokesperson said the coffee giant is continuing to learn how its customers interact with EV stations and exploring partnerships and areas that would benefit from similar routes.

Persons: —, it's, Simon, Mercedes, Michael Kobori Organizations: Service, Benz, EV, Starbucks, Business, McKinsey, Mercedes, Simon Properties, Volvo Locations: Coast, Canada, Mexico, Denver, Seattle

☆ How to trade Netflix using options ahead of earnings
▼ + stars: | 2024-07-18 | by ( Michael Khouw | ) www.cnbc.com time to read: +5 min

Netflix earnings are out after the bell Thursday. Breaking down Netflix fundamentals Netflix faces much more competition in the streaming industry than it did a few years ago. These concerns were valid, given that Netflix had accumulated over $10 billion in negative cash flow in the decade leading up to the pandemic through December 2019. Over the four fiscal years from 2020 to 2023, Netflix reported over $10 billion in free cash flow, reversing the negative cash flow of the previous decade. These calls, 8% out of the money, traded for $9 each, representing just under 1.4% of the current stock price.

Organizations: Netflix, CNBC, NBC UNIVERSAL

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