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☆ The housing market is ‘stuck’ until at least 2026, Bank of America warns
▼ + stars: | 2024-06-27 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

Economists at Bank of America warned this week that the US housing market is “stuck and we are not convinced it will become unstuck” until 2026 — or later. And mortgage rates may not fall much — even if the Federal Reserve finally delivers long-delayed interest rate cuts. There isn’t a magic fix,” Michael Gapen, head of US economics at Bank of America, told CNN in a phone interview. However, Bank of America expects housing starts — which is a measure of newly constructed homes — to remain flat for the coming years. Divide between haves and have-notsThe forecast for a “stuck” housing market cuts both ways.

Persons: unstuck, —, Michael Gapen, “ It’s, ”, ‘, Dave Liniger, ” Liniger, Liniger, “ Don’t Organizations: New, New York CNN, Bank of America, Federal Reserve, CNN, ”, ” Bank of America, Gallup Locations: New York, America

☆ Stock futures are little changed as investors await inflation data with end of second quarter looming: Live updates
▼ + stars: | 2024-06-27 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Stock futures are near flat Thursday night as traders await closely followed inflation data. Dow Jones Industrial Average futures slipped 36 points, or 0.1%. S&P 500 futures ticked up 0.1%, while Nasdaq 100 futures added 0.2%. In after-hours action, Nike shares slipped more than 12% after the athletic retailer cut its full-year guidance. Excluding volatile food and energy prices, the core PCE is forecast to come in 0.1% higher on the month and 2.6% on an annualized basis.

Persons: Foot Locker Organizations: New York Stock Exchange, Stock, Dow Jones Industrial, Nasdaq, Nike, PCE, Dow, Federal, Fed

☆ Arizona Iced Tea founder explains why he's bucked the inflation trend and never raised its iconic 99-cent price in 32 years
▼ + stars: | 2024-06-27 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +1 min

The iconic 23-ounce cans of Arizona Iced Tea still sell for 99 cents after 32 years. Arizona founder Don Vultaggio told Today he doesn't want to raise prices on consumers. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementDon Vultaggio, the cofounder and CEO of the company behind Arizona Iced Tea, still sells his product for the same price as when it launched 32 years ago — 99 cents. Arizona's signature big cans of iced tea were a quick success, and Vultaggio still runs the company to this day with the help of his sons.

Persons: Don Vultaggio, —, Vultaggio Organizations: Arizona Iced, Service, Arizona, Business Locations: Arizona, New York

☆ Elaine Thompson-Herah, five-time Olympic gold medalist, ruled out of Paris Games with Achilles injury
▼ + stars: | 2024-06-27 | by ( Ben Morse | ) edition.cnn.com time to read: +2 min

CNN —Five-time Olympic gold medalist Elaine Thompson-Herah will miss Paris 2024 with an Achilles injury, she announced on social media. “I am hurt and devastated to be missing the Olympic this year but at the end of the day it’s sports and my health comes first. In doing so, she became the first woman to complete the Olympic sprint double since Florence Griffith-Joyner at Seoul 1988. Thompson-Herah – who turns 32 on Friday – finished last in the Prefontaine Classic last month with a time of 11.30, with one of her main rivals for Olympic gold, American Sha’Carri Richardson, finishing first. Then, at the New York Grand Prix in June, she once again finished last with a time of 11.48.

Persons: Elaine Thompson, Herah, “, ” Thompson, Florence Griffith, Joyner, Thompson, Herah –, –, Sha’Carri Richardson Organizations: CNN, Olympic, New York, month’s, Summer, Tokyo Games, Prefontaine, Prix Locations: Jamaica, Rio de Janeiro, Seoul, Paris

☆ Inside Rudy Giuliani's bankruptcy spending: $100 on pizza, $4 polyester ties, and 'deep bronze' tanning lotion
▼ + stars: | 2024-06-27 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +11 min

They also include quite a few Amazon purchases, including cheap ties and "deep bronze" tanning lotion. For the first time, Giuliani disclosed the financial details of Giuliani Communications, the company he owns that produces his video livestreams on social media. On a monthly basis, Giuliani Communications spends more money than it makes — even before the WABC cancellation. Earlier filings were compiled by Joseph Ricci, an accountant whose firm was paid $4,000 by Giuliani Communications in May. Ricci has since declined to work on the banruptcy, Giuliani's lawyers have said.

Persons: —, Rudy Giuliani, Giuliani, Maria Ryan, it's, Donald Trump, Tanner, Bice, Giuliani —, Wandrea Moss, Ruby Freeman, Jose Luis Magana It's, Giuliani's, Mike Lindell, John Catsimatidis, Ryan Organizations: Service, New, New York City, Business, Giuliani Communications, New York, eBay, Verizon, Citi, AP, Giuliani's, WABC, Republican Locations: New York, Arizona, New York City, Amazon, Manhattan, Palm Beach, Washington , DC, MyPillow, American

☆ Here are the portfolio's top 5 performing stocks since May's Monthly Meeting
▼ + stars: | 2024-06-27 | by ( Morgan Chittum | ) www.cnbc.com time to read: +7 min

The stock market had another great run since the Club's May Monthly Meeting. Here's our top-five performing portfolio names since the May 30 close through Wednesday's close, the eve of our June Monthly Meeting. AVGO YTD mountain Broadcom (AVGO) year-to-date performance Broadcom took the top spot since the May Monthly Meeting, jumping 16.7% in that timeframe. And on Wednesday, the stock mounted a late-day comeback to close up 0.25% on the day of its annual shareholder meeting. Even with their recent comeback, Salesforce shares are down more than 10% from their close May 29.

Persons: —, We're, It's, Salesforce, Snowflake —, we've, Davidson, Jim Cramer's, Jim Cramer, Jim, Brendan Mcdermid Organizations: Federal Reserve, Nasdaq, Club, Nvidia, Broadcom, dethroning Club, Microsoft, Tuesday's, Apple Intelligence, Apple, Rosenblatt Securities, Networks, Palo Alto, CNBC, Traders, New York Stock Exchange Locations: Wednesday's, China, Palo, New York City

☆ Why Twitch's CEO says AI will be a 'boon' for livestreaming creators
▼ + stars: | 2024-06-27 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +6 min

Read previewWith a Ph.D. in artificial intelligence and as the former head of NASA's AI and robotics unit, Twitch CEO Dan Clancy readily pitches himself as something of a generative AI expert. Twitch creators have begun using generative AI to set up debates with fictionalized versions of famous people and historical figures, he said. "You're going to be able to do that with two cameras," Clancy said of the advances in generative AI. The documentation for the program, which is due to launch in July or August of this year, doesn't make any mention of AI-generated music. Amazon is developing its own large language models and services that allow customers to build generative AI applications in the cloud.

Persons: —, Dan Clancy, Clancy, he's, Larry Feinberg, livestreams, doesn't, Twitch isn't, OpenAI, Axel Springer, that's Organizations: Service, Business, Cannes Lions, Bloomberg, YouTube, Universal Music, Sony Music, New York Times, Microsoft, Amazon Locations: Japan

☆ Opinion: Don’t underestimate moms ahead of the 2024 election
▼ + stars: | 2024-06-27 | by ( Opinion Reshma Saujani | ) edition.cnn.com time to read: +5 min

Put another way, this isn’t going to be an “abortion” election or an “economy” election: 2024 is going to be the mom election. That decline is largely attributed to one key cost: child care. Both have since lapsed, leaving many families to teeter on (or fall off) a “child care cliff.”In 2024, the cost of child care — the cost of motherhood — has become untenable. They don’t see “motherhood issues,” such as child care and paid leave, as substantive, economic issues worth fighting for. For decades, moms have been divided — working moms versus stay-at-home-moms, single moms versus coupled moms, Moms for Liberty versus Moms Demand Action.

Persons: CNN — Kellyanne Conway, Reshma, Biden, Donald Trump, ” Conway, Conway, —, who’ve, we’re, ” isn’t, they’re, Trump Organizations: CNN, “, New York Times, ”, Federal, Household Economics, Liberty, Twitter, Republicans Locations: teeter

☆ I'm an American mom living in London. School ends in mid-July and my kids don't go to sleep-away camp.
▼ + stars: | 2024-06-27 | by ( Jennifer Barton | ) www.businessinsider.com time to read: +4 min

Summer break also looks a lot different for my kids than my summers going to Camp Mohawk in upstate New York used to. Here are three key differences I've noticed between summer break for kids in the UK vs the US. Summer camp culture looks very different in the UKThe UK isn't immune to US influences, but summer camp culture hasn't quite made it over here yet. For the final week of summer break, we visited my sister and her family in Munich. AdvertisementUnlike the US, where summer camp bookings are mega-competitive, getting an activity camp slot in London feels more accessible.

Persons: —, I'm, I've, it's Organizations: Service, Yorker, Business Locations: London, Camp Mohawk, New York, England, Portugal, Devon, Munich

☆ AI tools for Goldman's workforce set to 'land at scale on desks' as soon as next year: partner
▼ + stars: | 2024-06-27 | by ( Reed Alexander | ) www.businessinsider.com time to read: +8 min

For Goldman Sachs' investment bankers, the answer may just be over the horizon. Top Goldman executives told Business Insider that the investment bank is poised to roll out a series of generative AI tools to its workforce as soon as next year. Lee, a Goldman partner, said it could take years for the consequences of this tech on the bank's workflows to be fully understood. But he is overall optimistic about how generative AI, an advanced type of machine learning, will impact its workforce. Many junior bankers spend time on tasks that can sometimes feel "relatively routine," Lee said.

Persons: —, Goldman Sachs, Goldman, George Lee, cohead, Lee, it's, Jamie Dimon, Alison, Tim Ingrassia, Gene Sykes, dealmakers, David Solomon, Ingrassia, Reed Alexander Organizations: Service, Business, Goldman Sachs Global Institute, JPMorgan, Goldman, New York Times, Deutsche Bank

☆ 6 signs you'll be a 'late bloomer' in your career — and how to set yourself up for a strong second act
▼ + stars: | 2024-06-27 | by ( Julia Pugachevsky | ) www.businessinsider.com time to read: +7 min

AdvertisementHe said there's no universal age that makes someone a late bloomer. Instead, he defines late bloomers as "people who start doing incredible things after the point when no one expects it." Sometimes, late bloomers would find a way to use their talents in new ways. "We're always keen to compare the late bloomer with the early bloomer," he said. "But I would compare the late bloomer with the person who dies without doing their thing."

Persons: —, Henry Oliver, Jay, Vera Wang, Malcolm X, Margaret Thatcher, Oliver, Margaret Thatcher's, Frank Lloyd Wright, Katharine Graham, Samuel Johnson, bloomers, wasn't, Matthew Stockman, I'm, Audrey Sutherland, She'd, Angelou, Jack Sotomayor, you've, James Baldwin, everything's, it's, Katharine Graham's, Robert R, McElroy, stabler, We're, bloomer Organizations: Service, Business, Washington, Getty, Washington Post Locations: bloomer, Alaska, California, New York

☆ Opinion | Who You Calling Conservative?
▼ + stars: | 2024-06-27 | by ( Pamela Paul | ) www.nytimes.com time to read: +1 min

You know you’ve touched a nerve with progressive activists when they tell you not just that you’re wrong but that you’re on the other side. Such is the fate of any old-school liberal or mainstream Democrat who deviates from progressive dogma. New York magazine’s liberal political columnist Jonathan Chait was accused of lending “legitimacy to a reactionary moral panic” for critiquing political correctness. But the goal and the effect is to narrow the focus of acceptable discourse by Democrats and their allies. If liberals are denounced for “punching left” when they express a reasonable difference of opinion, potentially winning ideas are banished.

Persons: Republican ”, it’s, Jonathan Chait, Nellie Bowles, ”, ” Meghan Daum Organizations: Republican Locations: New York

☆ TikTok to compete with Amazon Prime Day through its own July sale
▼ + stars: | 2024-06-27 | by ( Katie Bartlett | ) www.cnbc.com time to read: +1 min

TikTok has officially launched its e-commerce service TikTok Shop in the U.S.TikTok on Thursday announced it will launch a U.S. summer sale dubbed "Deals for You Days," which is positioned to compete with Amazon 's annual Prime Day. Starting July 9, TikTok Shop will be offering sales on thousands of items, including clothing, beauty products, books and decor. The announcement comes just two days after Amazon revealed that its annual Prime Day mega sale will take place on July 16-17 this year. The success of Prime Day, which Amazon introduced in 2015, has pushed several other retailers to hold competing sales. The social media platform first introduced the TikTok Shop in September 2023 as an in-app shopping experience, capitalizing on the #TikTokMadeMeBuyIt trend.

Persons: TikTok, Nyx Organizations: Amazon, Companies, Walmart, Target, Brands, L'Oreal Paris, TikTok Locations: U.S, TikTok, Maybelline New York

☆ Bronny James selected by Lakers with No. 55 pick in NBA Draft, joins father’s team
▼ + stars: | 2024-06-27 | by ( Mike Vorkunov | ) www.nytimes.com time to read: +4 min

Bronny James, the eldest son of Lakers star LeBron James, indeed has a home in the NBA, on his father’s team. “My dream has always just been to put my name out, make a name for myself, and, of course, get to the NBA,” James said at the NBA Draft Combine in May. Bronny: Los Angeles Laker. pic.twitter.com/TvhkzEs9sO — Los Angeles Lakers (@Lakers) June 27, 2024The Lakers went 47-35 last season, falling to the Denver Nuggets in the first round of the playoffs. pic.twitter.com/BnxozT7CGj — NBA (@NBA) June 27, 2024“It’s still lingering,” he said.

Persons: Bronny James, LeBron James, James ’, ” James, Bronny, James, BnxozT7CGj, “ It’s, ”, “, ” James ’, Bryce, Jason Merritt, stapled, LeBron, Rich Paul, @Lakers, ‘, ’ ”, I’ve, Jeff Haynes, NBAE Organizations: Lakers, NBA, Los Angeles Lakers, Los Angeles Laker, Denver Nuggets, LeBron, USC, State, ESPN, Cleveland Cavaliers, Getty, Phoenix Suns, Klutch Sports Locations: Los, Southern California, that’s

☆ The first US presidential debate will have some noticeable differences
▼ + stars: | 2024-06-27 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at the first — and somewhat unconventional — US presidential debate happening tonight . Evan Vucci/AP images, Manuel Balce Ceneta/AP images, Tyler Le/BIIt didn't come easy, and it won't feel quite the same, but we're getting our first US presidential debate tonight. AdvertisementBut don't be surprised by some noticeable differences from what you've come to expect when two presidential candidates face off. And this marks the first presidential debate the platform navigates under the Elon Musk regime. In other newsAdvertisementWhat's happening todayRFK Jr., who did not qualify for the CNN presidential debate, will answer debate questions via livestream during his campaign's counter-programming.

Persons: —, Evan Vucci, Manuel Balce Ceneta, Tyler Le, Joe Biden, Donald Trump, it's, Insider's Brent D, Griffiths, Biden, Brent, Chris Szagola, Julien de Rosa, Alice Tecotzky, Cros, Sunny Verghese, Goldman Sachs, Goldman, Adam Posen, Posen, Bord, Jenny Chang, Rodriguez, Mustafa Suleyman, Alberto Miranda, they're, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Business, Trump, Biden, CNN, Fox News, MSNBC, Elon, Getty, Peterson, BI, NFL, RFK Jr Locations: Tesla . Texas, New York, London

☆ Debate Fact Check: Biden and Trump on the Economy, Immigration and Foreign Policy
▼ + stars: | 2024-06-27 | by ( Ana Swanson | The New York Times | ) www.nytimes.com time to read: +1 min

— Former President Donald J. TrumpMr. Trump is distorting what Representative Nancy Pelosi, then the House speaker, said. Ms. Pelosi did not admit to turning down National Guard troops. We have responsibility, Terry, we didn’t have accountability for what was going on there.”When the person Ms. Pelosi was addressing responded, “they thought they had sufficient resources,” Ms. Pelosi cut her off. “It’s not a question of sufficient,” the speaker said, “they don’t know. claims” of Ms. Pelosi being at fault.

Persons: —, Donald J, Trump, Nancy Pelosi, Ms, Pelosi, Alexandra Pelosi, Pelosi’s, “, Terry, “ It’s Organizations: Trump Mr, National Guard, Republican, Capitol Police, Politico

☆ Presidential debate live updates: Biden faces Trump in Atlanta
▼ + stars: | 2024-06-27 | by ( Dan Mangan Kevin Breuninger Christina Wilkie Brian Schwartz Rebecca Picciotto Josephine Rozzelle | Dan Mangan | Kevin Breuninger | ) www.cnbc.com time to read: 1 min

President Joe Biden and former President Donald Trump are squaring off in their first debate of the 2024 White House race in Atlanta on Thursday night. NBC News Now will stream CNN's Presidential Debate live. The 90-minute debate comes as Trump faces two pending criminal prosecutions over the Republican's efforts to overturn his defeat as president in the 2020 election to the Democrat Biden. There will be no studio audience for the debate, and each candidate's microphone will be muted when it is their opponent's turn to speak. CNBC's team of politics and economics reporters will be covering the candidates, the lead-up and the debate live from Washington, D.C.; CNBC Global Headquarters in Englewood Cliffs, New Jersey; and New York City.

Persons: Joe Biden, Donald Trump, Democrat Biden, Jake Tapper, Dana Bash Organizations: White, NBC, Trump, Democrat, CNN, Washington , D.C, CNBC Global Headquarters, New Locations: Atlanta, Washington ,, Englewood Cliffs , New Jersey, New York City

The first presidential debate of 2024 between President Biden and former President Donald J. Trump offers both men the rare chance to tilt the direction of a race that has so far been defined by its stability. Credit... Kenny Holston/The New York Times

Persons: Biden, Donald J, Kenny Holston Organizations: Trump, New York

☆ Cover Art for ‘Harry Potter’ Sold at Auction for $1.92 Million
▼ + stars: | 2024-06-27 | by ( John Yoon | ) www.nytimes.com time to read: +1 min

The original cover art for the first edition of “Harry Potter and the Philosopher’s Stone” sold for $1.92 million at auction on Wednesday, becoming the most expensive item related to the series, decades after its illustrator was paid a commission of just $650. The year before the novel came out in 1997, its publisher, Bloomsbury, hired a 23-year-old from England who had just graduated from art school to design the book jacket, the auction house said. The artist, Thomas Taylor, would go on to establish the world’s conception of Harry Potter, with his iconic round glasses and lightning bolt scar. “It’s kind of staggering, really,” he said about the sale of his painting in an interview on Thursday. “It’s exciting to see it fought over.”

Persons: “ Harry Potter, ”, Harry, Rodney P, Swantko, Thomas Taylor, Harry Potter Organizations: Bloomsbury Locations: Hogwarts, King’s, New York, England

☆ A Gen Zer who moved to Indianapolis, where she pays less than $1,700 in rent, shares the pros of living in 'a big city with small-town charm.'
▼ + stars: | 2024-06-27 | by ( Madison Hoff | ) www.businessinsider.com time to read: +7 min

She also resided in New York City, and she has studied abroad and worked in Italy. Now working and living in Indianapolis, Ball doesn't see herself leaving this Midwest city soon. With a population of over 800,000, Ball finds Indianapolis is "a big city with small-town charm." "There was just something really charming about the city," Ball said. Courtesy of Milan BallShe does miss getting around via subway in New York City and finds it tough not having a car to get around in Indianapolis.

Persons: —, she's, Ball, Zers, Indiana University Lilly, I'm, didn't, Ball's, Milan Organizations: Service, Business, Midwest Ball, Indianapolis, Indiana University, Indiana University Lilly Family School of Philanthropy, Innovation, Public Locations: Indianapolis, Virginia, New York City, Italy, Midwest, New York, Washington, DC, York, Williamsburg, White

Frank Bruni: Olivia, Matt, I thank you for joining me and I wonder if you’re as disoriented as I am. A general-election presidential debate in June? Matthew Continetti: The dizziness you feel is the result of a truly strange presidential election. Biden and Trump are the oldest presidential candidates in history, and among the least liked. Olivia Nuzzi: I am usually disoriented when I look at our political landscape.

Persons: Frank Bruni, Matthew Continetti, “, Olivia Nuzzi, Biden, Donald Trump, Olivia, Matt, Trump, Robert F, Kennedy Jr Organizations: Washington, New York, Commission, Biden Locations: America

☆ Rate the Presidential Debate - The New York Times
▼ + stars: | 2024-06-27 | by ( New York Times Opinion | ) www.nytimes.com time to read: 1 min

The Times is committed to publishing a diversity of letters to the editor. We’d like to hear what you think about this or any of our articles. Here are some tips. And here’s our email: letters@nytimes.com. Follow the New York Times Opinion section on Facebook, Instagram, TikTok, WhatsApp, X and Threads.

Organizations: New York, Facebook

☆ Libraries and Arts Programs Spared From Cuts in N.Y.C. Budget Deal
▼ + stars: | 2024-06-27 | by ( Emma G. Fitzsimmons | Jeffery C. Mays | ) www.nytimes.com time to read: 1 min

A major second wave of cuts to the New York City library system has been averted in an 11th-hour deal announced on Thursday by the City Council and Mayor Eric Adams. The restoration of $58 million in proposed cuts to the city’s three major library systems, part of a broader city budget agreement expected to be announced on Friday, has been one of the main focal points of the City Council speaker, Adrienne Adams. It is expected to allow libraries to reopen on Sundays and remain open on Saturdays. The budget, which is due on Sunday, will also restore $53 million in funding for arts institutions, according to the announcement. The mayor’s office and the City Council are in the final stages of negotiations, and deliberations have been contentious, with the two sides unable to agree on basic revenue estimates.

Persons: Mayor Eric Adams, Adrienne Adams Organizations: New, City Council, Mayor Locations: New York City

☆ I threw a $30,000 'divorce party' and tossed my wedding ring into the sea
▼ + stars: | 2024-06-27 | by ( Jane Ridley | ) www.businessinsider.com time to read: +6 min

I hadn't expected it to be so emotional, but the high point of my divorce party was taking a slingshot and launching my wedding ring into the ocean. It might have cost $30,000, but my divorce party was worth every cent. It was one of the reasons I decided to celebrate my new look and new-found freedom with the divorce party. AdvertisementPhilipp kicked off her divorce party with a boudoir shoot —and a black heart cake. As for my wedding ring — a platinum piece from Cartier that I'd bought for myself in Copenhagen for $1,000— we had a mock ceremony when I pitched it into the sea.

Persons: —, Sabrina Philipp, — clapped, Philipp, Sabrina Philipp I, Bonnie, Clyde —, Ashlee Huff, hadn't, lacy, Dom Perignon, Cartier, I'd Organizations: Service, Chicks, Business, University of Florida, Cartier Locations: Bali, Australian, Europe, Scotland, Australia, Denmark, Copenhagen, Edinburgh, New York City, Miami, Canada , California , Texas, North Carolina, Florida, Miami Beach

☆ CNBC Daily Open: Micron slides, Amazon's $2 trillion
▼ + stars: | 2024-06-27 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

A trader works on the floor of the New York Stock Exchange (NYSE) during morning trading on March 4, 2024 in New York City. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Micron slidesShares of Micron fell almost 8% in extended trading on Wednesday as its revenue forecast failed to top analysts' expectations. The stock rose 3.9% on Wednesday.

Persons: Sanjay Mehrotra, Annie Palmer, Elliott Management, Shunichi Suzuki, Australia's, Arjun Jayaraman Organizations: New York Stock Exchange, CNBC, Dow Jones, Nasdaq, Nvidia, Micron, Apple, Microsoft, Southwest Airlines, Delta, U.S ., Finance, CSI Locations: New York City, Shein, Asia, Pacific, India

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