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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
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
Five Below told investors to expect between $830 million and $850 million, while analysts polled by LSEG forecasted $883 million. Sprinklr — The business technology stock dove 21.1% in the wake of weak guidance for the current quarter and full year. StoneCo — The financial technology stock rose 2.6% following an upgrade to overweight from neutral by JPMorgan . Ultragenyx Pharmaceutical — The biopharma stock added nearly 4% following an upgrade to buy from neutral at Goldman Sachs. Shopify — The e-commerce technology stock slipped 1.6% on the back of a MoffettNathanson downgrade to neutral from buy.
Persons: Goldman Sachs, Smartsheet, LSEG, Sprinklr, Mizuho, there's, StoneCo, CH Robinson, Goldman, ISI's, Shopify, Guggenheim, , Jesse Pound, Michelle Fox, Lisa Kailai Han Organizations: Nvidia, LSEG, Revenue, Mizuho, JPMorgan, Ultragenyx Pharmaceutical, Goldman, eBay, Citi, UBS, BMO Capital, BMO, Viridian Therapeutics, ISI, Energy Locations: Americas
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
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
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
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
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
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
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
The departure of the company’s chief product officer adds to a “wall of worry” Raymond James analysts said. Choe joined Lululemon more than seven years ago and became chief product officer in 2018, according to her LinkedIn. “I think that there’s a lot of people out there who believe that she was the person behind the scenes and was the most instrumental to Lululemon’s success,” Nikic said. Lulu has been “hyper aware” of dupe culture, Nikki Neuburger, then its Chief Brand Officer, previously said in an interview with CNN Business. However, Lululemon wasn’t stocked enough in these smaller sizes, which could have led these younger shoppers to competitors, Nikic said.
Persons: New York CNN —, Lulu, Alo, , Sun Choe, ” Raymond James, Choe, Raymond James, Tom Nikic, , ” Nikic, Mike Kemp, Vuori, Nikki Neuburger, Hailey Bieber, Martha Stewart, Lululemon, Nikic, Calvin McDonald, Samsul Said Organizations: New, New York CNN, preteens, Nike, Wall, Vans, CNN, Jefferies, CNN Business, Shoppers, Bloomberg, Getty Locations: New York, athleticwear, Covent, London, United Kingdom, Los Angeles, preteen, Bukit Bintang, Kuala Lumpur, Malaysia, China
Stocks rose on Wednesday as investors took in weaker jobs data. Investors are solidly betting on at two rate cuts in 2024, according to the CME FedWatch tool. AdvertisementUS stocks ticked higher on Wednesday as traders took in soft jobs data and revved up their hopes for Fed rate cuts later this year. Meanwhile, annual wage growth remained level at 5% — both promising signs that the job market is coolingWeaker hiring trends are good news for the outlook for rate cuts. Investors are largely expecting the Fed to hold interest rates steady at its next policy meeting, but are still feeling bullish on rate cuts by the end of the year.
Persons: , 1750,000 Organizations: Service, Treasury, ADP, Bank of America, Investors
Read previewThe US economy is edging precariously close to a recession, and it's flashed a handful of warning signs in just the last week that suggest a downturn is on the horizon, according to Société Générale. New manufacturing orders contracted in May, and overall manufacturing activity contracted for the 18th time over the last 18 months, according to the Institute for Supply Management. Advertisement"Although many may dismiss the importance of the manufacturing sector for the overall economy, it is undeniable that overall GDP ebbs and flows closely with it. SocGen isn't alone in sounding the alarm, and other economists say that high interest rates are finally working their way through the economy and depressing growth. New York Fed economists see a 52% chance the economy could slip into recession within the next 12 months.
Persons: , it's, Société, Albert Edwards, " Edwards, Edwards, That's, SocGen isn't Organizations: Service, Business, Fed, Institute for Supply Management, New York Fed
Sheryl Lee Ralph accepts the Outstanding Supporting Actress in a Comedy Series award for "Abbott Elementary" on stage during the 74th Annual Primetime Emmy Awards on September 12, 2022. But occasionally, I witness an acceptance speech that takes my breath away. Here are five lessons from some of my favorite acceptance speeches that you can adopt to become a riveting public speaker. Lesson 1: Surprise us like Sheryl Lee RalphThere's an old public speaking adage: "Tell them what you are going to tell them. Watch Sheryl Lee Ralph deliver her 2022 Emmys acceptance speech for Best Supporting Actress in "Abbott Elementary."
Persons: Sheryl Lee Ralph, Abbott, I've, Sheryl Lee Ralph There's, Dianne Reeves, doesn't, Michelle Yeoh, Alfred Hitchcock, Irving G, Thalberg
Gold rangebound as traders seek more U.S. data for Fed cues
  + stars: | 2024-06-05 | by ( ) www.cnbc.com   time to read: +1 min
Gold bars arranged at the Korea Gold Exchange store in Seoul, South Korea, on Friday, Oct. 13, 2023. Gold prices rose slightly on Wednesday helped by lower Treasury yields, but were stuck in a tight range as investors waited for more U.S. data to gauge the Federal Reserve's next step on monetary policy. U.S. gold futures rose 0.3% to $2,354.50. Benchmark 10-year Treasury yields lingered near their lowest level in almost three weeks hit on Tuesday, making bullion more attractive to investors. The U.S. services data is due at 1400 GMT.
Persons: Matt Simpson Organizations: Korea Gold Exchange, Federal, Index, Gold Locations: Seoul, South Korea, U.S
A soft landing is on the horizon, too — or already here depending on who you ask — and recent data reinforces that. AdvertisementThere has been a ton of moderation in this rate particularly when comparing recent changes to those seen in 2022, another sign pointing to a soft landing. AdvertisementThe soft landing might already be hereDavid Kelly, chief global strategist at J.P. Morgan Asset Management, believes the US has already achieved a soft landing. "To me, a soft landing is when the unemployment rate has basically hit its full-employment level, and the inflation rate is gradually coming down to a rate that's acceptable," Kelly said. Advertisement"In other words, a fairly comfortable soft landing with occasional turbulence," Draho added.
Persons: , That's, it's, Joseph Briggs, Goldman Sachs, Briggs, Nick Bunker, Bunker, David Kelly, Kelly, Jason Draho, Draho, It's Organizations: Service, Business, Bureau of Labor Statistics, North America, UBS, Morgan Asset Management, UBS Global Wealth Management
Dover shares hit a rough patch this week, falling alongside many other industrials on concerns about the health of manufacturing after the release of soft PMI numbers Monday. Dover makes thermal connectors used in the liquid cooling of data centers, a process growing in popularity due to AI. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer's, DOV, Jim Cramer, Jim Organizations: Dover, Federal, CNBC Locations: Dover, Illinois
I launched my own business, "Digital Business Manager Bootcamp," in April 2020. I slowly transitioned into a "cozy entrepreneur," where I set boundaries with work and am kinder to myself. I stopped shaming myself and set boundaries around workI started using "soft entrepreneur" and "cozy entrepreneur" around a year ago. One step I took toward becoming a "soft entrepreneur" was implementing a "no-shame policy." I see myself sticking with "soft entrepreneurship" for the foreseeable future.
Persons: , Deya Aliaga, wasn't, Aliaga, Max Schallwig, I'd, I've, It's Organizations: Service, Business, YouTube, Revenue, Research Locations: Berlin
CNN —SpaceX has received a launch license authorizing the fourth test flight of its massive moon rocket. A livestream of the flight test will be available on SpaceX’s website about 30 minutes before liftoff. “In addition, the FAA approved the mission profile that included a controlled and uncontrolled entry of the Starship vehicle. After the explosive first and second Starship test flights, the company immediately sought to frame these mishaps as successes. The nearly hour-long third test flight, conducted in March, achieved several milestones before breaking apart after reentry, rather than splashing down in the Indian Ocean.
Persons: , “ We’re, Elon Musk Organizations: CNN, SpaceX, Federal Aviation Administration, Super, FAA, NASA Locations: Boca Chica , Texas, Gulf, Mexico, United States, China
The UK-based fashion brand Me+Em has become a royal favorite in recent years. Kate Middleton has reworn a pink dress from Me+Em to royal engagements, and Meghan Markle sported a jacket from the brand in 2020. Sophie, the Duchess of Edinburgh, was even spotted wearing the same Me+Em dress Queen Camilla owns in 2023, as Hello! Samantha Grindell/Business InsiderThe mirror was huge, and the lighting was built into the walls to save space. After seeing the Me+Em store and its clothes, I understood why it had charmed the royals.
Persons: , Kate Middleton, Meghan Markle, Sophie, Duchess, Camilla, Clare Hornby, BEN STANSALL, Getty Images Hornby, Em, I'd, The Carlyle, Samantha Grindell, Carlyle Organizations: Service, Business, Chelsea, Getty Images, New York Times, Fashion Network, East Hampton, Madison Ave Locations: Edinburgh, New York, Madison, SoHo, East, The
According to the viral birth order dating theory, her dating preference makes sense: your birth order may predict the birth order of who you'll be attracted to. In the early 20th century, Austrian psychiatrist Alfred Adler theorized that birth order shapes personality because of how parents interact with each kid. Dating the same birth order can cause clashesJust as it can work well to date someone of a different birth order, dating someone with the same birth order may lead to clashes. She said middle children could also have a mix of both characteristics and might not relate to the "mediator" traits assigned to their birth order. "We can't speak in absolutes, whether it's talking about who you are because of your astrological sign or who you are because of your birth order," Wright said.
Persons: , Annie Wright, Alfred Adler, " Wright, Wright, firstborns, she's Organizations: Service, Business Locations: absolutes
Investors should position themselves defensively as the S & P 500 could drop about 10% before the end of September, according to Stifel Financial. That would mark a more than 10% decline from where the S & P 500 finished Monday's trading session. The S & P 500 closed out 2023 at about 4,770. That can, in turn, push the S & P 500 price-to-earnings multiple down by about two points, weighing on the stock market. Discounted for inflation, the S & P 500 is slightly below where it was about two and a half years ago.
Persons: Barry Bannister, Bannister Organizations: Financial, Central, Federal Reserve, Federal
The stock market is headed for a 10% decline over the next quarter, Stifel analysts warned. AdvertisementThe stock market is headed for a sell-off in the coming months that will see the S&P 500 drop 10%, according to Stifel strategists. When adjusted for inflation, the overall S&P 500 remains below its level at the end of 2021 — something that could be "emblematic of underlying problems" in the market, Stifel said. "We continue to forecast the S&P 500 corrects about -10% to ~4,750 before the end of 3Q 2024 from the recent peak," strategists said in a note on Tuesday. When the inflation-adjusted S&P 500 transitions out of a Secular Bull Market it historically enters a 'Secular Bear Market,' which is a much more treacherous period for investors."
Persons: , Stifel, Stocks Organizations: Service, Federal Reserve, Secular
"More and more people will realize that this [Global Access Solutions] was a good acquisition," Jim Cramer said Monday. To revive its lagging stock, management must also figure out which businesses are better on their own — kind of like the split announced last month by fellow Club stock DuPont . Honeywell stock has dropped 4.6% year-to-date. Smaller units have struggled like Building Automation, where management hopes to get a lift from Global Access Solutions. The Global Access Solutions deal, which was his biggest move to date, closed in the month of his first anniversary as chief exec.
Persons: Carrier, Jim Cramer, RTX, Jim, Vimal Kapur, Jim Cramer's, Michael Nagle Organizations: Honeywell, Club, DuPont, Solutions, Wall Street, Honeywell's Aerospace Technologies, DD, CNBC, Honeywell International Inc, New York Stock Exchange, Bloomberg, Getty Locations: New York
CNN —For more than a century, scientists have been unsuccessfully hunting for skull fossils for the thunder bird species Genyornis newtoni. Now, the discovery of a complete G. newtoni skull has resolved this longstanding mystery, giving scientists their first face-to-face encounter with the massive mihirung. Pictured here is the skull of G. newtoni, which is helping resolve a long-standing mystery about the giant bird's face. The illustration also highlights how G. newtoni stacks up sizewise to its closest relative, Anhima cornuta (nearest to G. newtoni) and the cassowary (not related). From there, he constructed a scaffold that was consistent across multiple skull fossils.
Persons: newtoni, Larry Witmer, ” Witmer, “ It’s, , Witmer, Phoebe McInerney, ” McInerney, “ Genyornis, Genyornis, dromornithids, Anhima, Jacob Blokland, ” Blokland, Blokland, McInerney, Blockland, ” Mindy Weisberger Organizations: CNN, Flinders University G, Ohio University, , Flinders University, Flinders Palaeontology, Flinders University Big, Scientific Locations: Australia, Australia’s, it’s, South Australia, South America,
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