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CNBC Daily Open: Prequels, sequels and pixie dust
  + stars: | 2024-08-12 | by ( Abid Ali | ) www.cnbc.com   time to read: +3 min
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. The S&P 500 ended the week just 0.04% lower, while the Dow Jones Industrial Average slipped 0.6% and the Nasdaq Composite dipped 0.18%. At its lowest point on Monday, the S&P 500 was down nearly 10% from its recent high and the Nasdaq entered correction territory. [PRO] Low-volatility stocksDespite a wild week with steep sell-offs and concerns about Fed policy, markets rebounded showing resilience.
Persons: Disney, Indiana Jones, Carlos Tavares, Donald Trump, Sen, Elizabeth Warren, Elon Musk, Elon Musk's, Warren, Tesla, Robyn Denholm, Musk, CNBC's Pia Singh Organizations: CNBC, Wall, Dow Jones, Nasdaq, Magic, Hollywood, Inc, Animal Kingdom, Fiat Chrysler, France's PSA Groupe, Trump, Trump Media, SpaceX, Twitter Locations: U.S, Magic Kingdom, Disney's California, Michigan, Friday's
… It seems like even though their heart rate does accelerate, it’s much more even (than the other spider’s heart rates),” he added. To test the spiders’ heart rates, Davis and study coauthor Christina Vu, who was a University of Georgia undergraduate student of entomology at the time, wrangled 79 spiders from two different genera. The Jorō spiders (top left) had to be carefully restrained using pins in order to measure the arachnids' heart rates. They compared the spiders’ resting heart rates to their heart rates during restraint and found all the spiders’ heart rates increased, but the Argiope spiders, which are known to avoid urban settings, had many more spikes as they struggled to run away, according to the research. … To observe spider heart rates, they must be restrained in the first place, which causes a heart rate elevation,” he said.
Persons: I’ve, ’ ”, Andy Davis, panicking, Davis, Christina Vu, , ” Vu, Jorōs, , , Floyd Shockley, ” Shockley, Jay Stafstrom, ” Stafstrom, they’re Organizations: CNN —, University of Georgia, University of Georgia’s Odum, of Ecology, University, Georgia, Smithsonian National Museum of, Cornell University Locations: United States, Asia, Georgia, West Virginia , Tennessee, Maryland, Canada, arachnophobes, Washington , DC, Ithaca , New York
Read previewUkraine has surprised the world with its attack on Kursk, a rare ground invasion of Russian soil. As of Monday, the Kremlin announced that Ukrainian troops had advanced almost 19 miles into the western Russian region. In a public meeting that afternoon, Russian President Vladimir Putin instructed his military to purge Ukrainian troops from Kursk. Matthew Savill, director of military sciences at the London-based Royal United Services Institute, assessed on Monday that some Russian troops had been moved from within Ukraine, but the scale is unclear. He said this would likely only be incidental to Ukraine's main strategic goal in the Kursk attack.
Persons: , Patrick Bury, Vladimir Putin, We're, Matthew Ford, Ford, Matthew Savill, Savill, Russia's, West, Ukraine —, Bury, we've, they've, Putin, Vladimir, Peter Dickinson Organizations: Service, UK's University of Bath, Kremlin, Business, Agence France, Presse, BI, UK's University of Sussex, Royal United Services Institute, West Ford, Ukraine, Pentagon, Trump, Atlantic, Moscow Times Locations: Ukraine, Kursk, Russian, Russia, Kyiv, London, Kharkiv
Inflation comes for your oysters
  + stars: | 2024-08-11 | by ( Erika Tulfo | ) edition.cnn.com   time to read: +4 min
Wholesale oyster prices soared to triple digit highs in 2022 and only began coming down late last year. The sheer lack of wild-caught oysters is the biggest supply issue underlying market fluctuations, and industry experts say the problem can be traced back more than 10 years. Branch estimates that up to 60% of the current oyster supply comes from farms — a near-complete turnaround from 20 years ago, when 70% of oysters were wild-caught. Qiu echoed Branch’s assessment, adding that the remaining wild oyster reefs are only a small fraction of their historic numbers. “Climate change is making growth really difficult to be consistent … there’s just a whole lot of things that can go wrong with farming oysters,” Qiu said.
Persons: that’s, , Julie Qiu, Wells Fargo, “ We’ve, David Branch, Qiu, ” Qiu, Gen Z, Organizations: New, New York CNN, US Federal Reserve, Food Institute, Branch Locations: New York, Wells Fargo, New York City, Wells, Gulf of Mexico, Louisiana,
Stars from Hollywood's golden age are being reborn through celebrity estate AI voice cloning deals, a sign of how some of the "Wild West" concerns about unauthorized AI impersonation are being addressed by new business models. Safeguards include active moderation of content, accountability enforceable with bans, and special provisions for safeguarding the impact of AI voice on the 2024 election. Among the current generation of actors, there remains significant anxiety surrounding the use of AI in generating voice content. Voice actors for video games have raised concerns, and last year's film and television strike had significant roots in anxieties over the use of AI. AI voice licensing could alleviate workload for voice actors, he added, without supplanting them, as they "intercede in the process by focusing on offering correction or enhancement to ineffable aspects such as intonation, warmth, and emphasis, which still present challenges."
Persons: Burt Reynolds, Andreessen Horowitz, Judy Garland, James Dean, Sir Laurence Olivier, ElevenLabs, Sam Sklar, Scarlett Johansson, " Sklar, Frito, Tom Waits soundalike, Waits, Lovo, Steve Cohen, Pollock, Cohen, Bette Davis, Sklar, Nauman Dawalatabad, Dawalatabad, Michele Cobb Organizations: Golden Globe, Beverly Hilton Hotel, Sequoia, New York Times, Washington Post, Disney, Google, Apple, MIT Computer Science, Artificial Intelligence, Audio Publishers Association, CNBC
While there was some demand for protection against the prospect of volatility reemerging, overall sentiment across Wall Street had gotten more bullish. Until Wall Street can be sure that the consumer will hold on (or not), conviction is easily shaken. After years of weird times and outsize gains, Wall Street is dancing on a knife's edge. After years of weird times and outsize gains, Wall Street is dancing on a knife's edge. What happened on Monday was a sudden realization that the new structure may assert itself before Wall Street imagined it would.
Persons: , Jerome Powell, we've, they'd, corporates, Dow, Mandy Xu, Cboe's, Wall, Torsten Slok, Slok, Shake, Kevin Gordon, Charles Schwab, they've Organizations: Dow Jones, Bank of Japan, Big Tech, Federal Reserve, Nasdaq, Wall, Apollo Global Management, Corporations, Companies Locations: Asia, Japan, Mexico
These stocks have low share price volatility over the past five years, and their total return — including share price gains and dividends — are greater than the S & P 500's over the past five years. Take a look at the names below: Health-care companies Amgen , UnitedHealth Group and AbbVie are among the names with low volatility and strong returns in recent years. Pharmaceutical company AbbVie's roughly 262% gain over the past five years is the highest of the stocks in the group. Amgen's share price has a 5-year total return of 104%, making it a steady grower, but still the slowest of the list. Other stocks with low volatility and attractive valuations include automotive replacement parts retailer AutoZone and insurance company Aflac .
Persons: Stocks, They're, Morgan Stanley, Wells, Mohit Bansal, TD Cowen, Kannan Venkateshwar, — CNBC's Christopher Hayes Organizations: CNBC, UnitedHealth, Pharmaceutical, Morgan Stanley Wealth Management, Humira, Barclays, Mobile
Travel news: Europe’s cleanest swimming spots
  + stars: | 2024-08-10 | by ( Maureen O'Hare | ) edition.cnn.com   time to read: +4 min
Editor’s Note: Sign up for Unlocking the World, CNN Travel’s weekly newsletter. Get the latest news in aviation, food and drink, where to stay and other travel developments. CNN —In our roundup of travel stories this week: a life-changing DNA test, a Georgia-to-Mongolia road trip with unexpected challenges, plus a new report reveals Europe’s cleanest places to swim. For sea swimming, Croatia has the brine that’s most divine, followed by Cyprus, Greece and Slovenia. For inland waters, Bulgaria, Greece, Ireland and Romania are all tied in first place, with Austria and Finland not far behind.
Persons: John Portmann, van, it’s, Here’s, It’s, Canada’s, James Gillese, Ryan Titchener, Debby, , Little Richard, Otis Redding, There’s Organizations: CNN, European Environmental Agency, European Union, overlanding, CNN CNN Travel, Tourists Locations: Georgia, Mongolia, Croatia, Cyprus, Greece, Slovenia, Belgium, Bulgaria, Ireland, Romania, Austria, Finland, Seine, Paris, Arizona, Russia, Australia, America, Lahaina, Maui’s, Canada’s Jasper, Coast, East Coast, Macon, Macon , Georgia
Sam Altman posted a photo of a strawberry bush, and AI nerds went wild. Strawberry aims to give OpenAI's tech autonomous internet navigation and deep research capabilities, Reuters reported. Go to newsletter preferences Thanks for signing up! AdvertisementThe tech industry is reading into a lighthearted post by OpenAI CEO Sam Altman, speculating that the picture might actually have a deeper meaning. Altman posted a photo of a strawberry bush to X on Wednesday morning, and some say it hints at one of OpenAI's reported ongoing projects.
Persons: Sam Altman, , Altman, OpenAI's Organizations: Reuters, Service, Business
The single most troubling thing about Senator JD Vance — his bizarre understanding of the work of J.R.R. Tolkien notwithstanding — is his close relationship with some of the most extreme elements of the American right. Yarvin has also written favorably of human bondage (slavery, he once wrote, “is a natural human relationship”) and wondered aloud if apartheid wasn’t better for Black South Africans. Take Vance’s view that the United States is in a period of Romanesque decline. “We are in a late republican period,” Vance said on a podcast in 2021.
Persons: JD Vance, Tolkien, , Vance, Peter Thiel, Curtis Yarvin, provocateur, Yarvin, , Thiel, ideologues, ” Vance Organizations: Black South Locations: United States, , Overton
A wild week of trading on Wall Street ended with the S & P 500 back roughly where it started, but the lessons learned by whipsawed investors over those five days could determine what happens next. The S & P 500 had its worst day since 2022 on Monday, and then its best since 2022 on Thursday. But with the S & P 500 ending the week down less than 0.1% in a calm session on Friday, the market seems to have stabilized. .SPX 5D mountain The S & P 500 finished the week nearly flat. And I think that has to do with investors really being a little bit skeptical about some of this equity market volatility."
Persons: Tim Hayes, Ned Davis, Gennadiy Goldberg, didn't, Jeremy Schwartz, Peter Berezin, aren't, Wellington, Frank Gretz, RJ O'Brien, Tom Fitzpatrick, Fitzpatrick Organizations: Wall, Treasury, Ned, Ned Davis Research, TD Securities, CNBC, Japan —, Nikkei, Bank of Japan, BCA Research, Wellington Shields, Associates Locations: Japan
Bella Robben has been living in Australia for almost a year. Bella RobbenRobben's original plan was to visit Australia for just one week, but right before the trip she decided to apply for the country's working holiday visa. Bella RobbenIn Australia, Robben says she is able to earn enough to have a life and to save. Now, approaching one year in Australia, Robben says she isn't the same person she was when she first arrived in the country. Bella Robben
Persons: Bella Robben, Robben, Louis, I've, Bella Robben Robben, Port Douglas, that's, it's, she's, I'm Organizations: CNBC, Tourism Board, Student Locations: Australia, St, Louis , Missouri, Peru, Colombia, Europe, Barcelona, London, Lisbon, Melbourne, U.S, Australia's Northern Territory, Robben, Port, Australian, Queensland, Far North Queensland, America, Southeast Asia
OpenAI, the company behind the ChatGPT chatbot, was founded in 2015 by a number of researchers, academics and entrepreneurs, including Sam Altman, Greg Brockman and Elon Musk. At the time, OpenAI said Musk left to avoid a conflict of interest with his other company, Tesla , which was becoming increasingly focused on AI. In the years since, OpenAI has grown into one of the prominent leaders in AI development. OpenAI now reportedly generates annual revenue of $3.4 billion, and has notable customers, including PwC, Moderna and Estée Lauder. Microsoft has invested about $13 billion into the AI startup.
Persons: Sam Altman, Greg Brockman, Elon Musk, Altman, Brockman, Musk, OpenAI, Estée Lauder Organizations: Tesla, Moderna, Microsoft, Big Tech Locations: OpenAI
The S&P 500 advanced 0.47% to finish at 5,344.16. This week marked the most volatile week of 2024 for the market. The Dow on Monday tumbled 1,000 points, while the S&P 500 lost 3% for its worst day since 2022. At the Monday lows, the S&P 500 was down nearly 10% from its recent all-time high. It is not just equity markets that have had a volatile week.
Persons: Stocks, Spencer Platt, Jay Hatfield, ” Hatfield Organizations: Nasdaq, Dow Jones, Dow, Federal Reserve, New York Stock Exchange, Wall, Treasury, Capital Locations: U.S, unwind, Hatfield,
Lithuania's Dominika Banevič, known as Nicka, at La Concorde in Paris on Friday. Lithuania's Dominika Banevič known as Nicka, Japan's Ami Yuasa known as Ami, and China's Liu Qingyi known as 671 at La Concorde in Paris, on Friday. Odd Andersen / AFP - Getty ImagesUsually the Place de la Concorde is a busy traffic intersection. Team USA's Logan Edra, known as Logistx, competes in the breaking round-robin at the Olympics in Paris, on Friday. On Saturday, USA's B-Boys Victor and Jeffro will be among the athletes competing in the men's try of Olympic breaking, wrapping the sport's Paris showing.
Persons: Japan’s Ami, Lithuania's Nicka, Ami, Nicka, Dominika, Odd Andersen, Elsa, Getty, India —, Japan's Ami Yuasa, China's Liu Qingyi, La Madeleine, Malik, , Sunny, Logistx, USA's Logan Edra, It’s, Ava Rodriguez, Rodriguez, Alison Palaia, Eric Quinlan, , Quinlan, “ We’ve, Palaia, , USA's, Boys Victor, Jeffro, Alexander Smith, Rebecca Cohen Organizations: PARIS, La Concorde, AFP, Getty, Team USA, China's, Team United States, Nicka, Concorde, La, U.S, Los Angeles Games, Olympics, Boys Locations: Japanese, Lithuanian, Paris, Bronx, New York City, Netherlands, India, Carlota, Luxor, France, America, Norwalk, Conn, U.S,
He and most of the community believe it is their duty to protect it – and in turn, they believe the forest will protect them. In photos: The plants and animals of Naimina Enkiyio Prev NextShared landIn a shady clearing, a group of Maasai elders sit in a circle on the grass. Peter Achammer/Helicopter Charter EA Ltd.For centuries, local communities have protected the forest, but today they are facing new threats. As the culture modernizes, Maasai elders fear this will be forgotten. “We shall protect the forest so that we retain this fresh air for our communities and also everyone in the world,” he says.
Persons: CNN — Naimina, Ntirua, Obibi, , Nell Lewis, CNN Ntirua Koikai, Enkiyio, Mara, Rob O’Meara, Sarah, Kirk's dik, dik, Peter Achammer, Ole Koikai, Ntirua Koikai, Mbuvi Musingo, , O’Meara, “ We’re, Josephat Olokula, sparky, you’re, “ I’m, Ntasikoi Oloimoeja, Oloimoeja Organizations: CNN, Initiative, Hansen Global, Forest Guardians, Guardians, Government, Helicopter Charter EA, Kenya Forestry Research Institute, Locations: , Kenya, Nairobi, Mara, Narok
Bank of America is offering up a selection of stocks to help investors sleep soundly during bouts of market volatility. The picks come on the heels of a roller-coaster week for Wall Street. Here are some of the companies that made the list: Several consumer staples stocks showed up, with the S & P 500 sector up more than 11% this year. PG 1M mountain Shares over the last month Lockheed Martin was another low-beta stock that made the cut. Shares of the aerospace and defense company have rallied more than 21%, outperforming the market year to date.
Persons: Stocks, Savita Subramanian, Gamble, Lockheed Martin Organizations: of America, Wall, Bank of America, Walmart, PepsiCo, Procter, Starbucks, Elliott Management, T Bank, Home Depot, Cisco Systems, Consolidated Edison, New Locations: U.S, China, New York
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This story is available exclusively to Business Insider subscribers. So what do such wild swings mean for folks who stress about what the stock-market ups and downs mean for their investments? Advertisement"In fact, it's what we all sign up for when investing in the stock market," he said, adding that, on average, the stock market loses money once every four years and that you could even expect swings of more than 14%. He added: "Selling is literally the only way that you can turn a temporary decline into a permanent loss."
Persons: , Dow, Gideon Drucker, Aswath Damodaran, Drucker Organizations: Service, Nasdaq, Business, Drucker Wealth, New York University
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIDX Digital Assets CIO explains catalysts behind crypto's wild ride this weekBen McMillan, chief investment officer of IDX Digital Assets, weighs in on this week's crypto market volatility and explains what can be expected in the months to come.
Persons: Ben McMillan Organizations: IDX
U.S. Vice President Kamala Harris and Republican presidential nominee and former U.S. President Donald Trump. But they also think the candidate best able to improve the economy is the de facto Democratic nominee Harris, not Republican nominee and former President Donald Trump. Three months ago, the same survey found Trump and Biden effectively tied, with 36% for Biden and 35% for Trump, and 29% planning to vote for Kennedy. This jump in support for Harris today is all the more notable because of how significant the economy is to the voting choices of younger Americans. In this survey, 77% of respondents said they either definitely or probably will vote.
Persons: Kamala Harris, Donald Trump, Brendan Mcdermid, Elizabeth Frantz, Harris, Biden, Joe Biden, Robert F, Kennedy Jr, Kennedy, Trump, Harris — Organizations: Republican, Reuters, Biden, CNBC, Money Survey, Democratic, Trump, Democratic Party, White, Democrats, Census Locations: Harris, U.S
My next home was in Seoul, for two years, followed by a decade in Hong Kong — the one place I truly felt at home. AdvertisementI later moved on to become the managing editor of DRiNK Magazine Asia, while I was simultaneously bartending at The Old Man Hong Kong. The book caught my now-business partner's attention and recently led me to Japan to help open a bar, Tokyo Confidential, in the capital. The language barrier is different when you're living here and not just fumbling along as a tourist. The local and global reception to Tokyo Confidential, our craft cocktail bar, has been amazing, too, especially after so many people told me it wouldn't work.
Persons: , hadn't, Hong Kong's, bartending I'd, wouldn't, they'd, Holly Graham, I'd, Graham, It's Organizations: Service, Business, Magazine, Tokyo, Tokyo Confidential Locations: Thailand, London, Seoul, Hong Kong, bartending, Magazine Asia, Asia, Japan, Tokyo, South Korea
The wildest week of 2024 has investors bracing for more volatility in the week ahead, with key insight on the consumer and inflation coming at a time when recession fears are top of mind. Inflation, labor data Next week's inflation data could get less attention than it has over the past year when the Fed's fight against pricing pressures put inflation reports on center stage. Recently, it's been the labor market getting the most attention. "The market's caring much more about about labor markets and growth, than they do inflation right now," Ladner said. Week ahead calendar All times ET Monday, Aug. 12 2 p.m. Treasury Budget (July) Tuesday, Aug. 13 8:30 a.m. Producer Price Index (July) Earnings: Home Depot Wednesday, Aug. 14 8:30 a.m. Consumer Price Index (July) 8:30 a.m.
Persons: Scott Ladner, it's, Ladner, , Strategas, Ryan Grabinski, RJ Assaly, Jeremy Siegel, Chen Zhao, Zhao, Price Organizations: Federal, Walmart, Home, Horizon Investments, Bank of Japan, Wharton, Fed, UBS, Investments, Treasury Budget, Price, Philadelphia Fed, Retail, Manufacturing, Materials, Tapestry, Deere, Co, Housing Locations: U.S, NAHB, Michigan
Global markets reached levels of turbulence rarely seen this week, but traders at Goldman Sachs are unfazed and don't believe it is a sign of a big danger lurking. The S & P 500 and Dow Jones Industrial Average on Monday suffered their biggest one-day declines since 2022. The market then roared back with the S & P 500 posting its biggest gain since 2022 on Thursday. After the late-week comeback, the S & P 500 is only down for the week by about half a percent. .VIX 5D bar Wild week for VIX Goldman traders expect gains going forward, but they see the path higher as a "choppy" one.
Persons: Goldman Sachs, Wall Street's, Goldman, VIX Goldman, Morgan Stanley, Eli Lilly, LLY Organizations: Goldman, Dow Jones, Monday, JPMorgan, pharma
After years of starts and stops at the box office, Disney appears to have hit a groove in 2024. Its latest Pixar film, “Inside Out 2,” is now the highest-grossing animated film of all time, topping $1.5 billion at the global box office. And the box office hits aren’t expected to stop there. Disney has long been a box office champion, driving significant ticket sales domestically and globally. In the year before the pandemic, Disney had seven theatrical releases top $1 billion at the box office.
Persons: Disney, ” —, , Paul Dergarabedian, bemoaned, Shawn Robbins, We’re, Bob Iger, Covid lockdowns, Iger, Disney’s, Riley, ” Iger, Wednesday’s, , , America, we’re, Romulus ” “, King, Moana, Robbins, Organizations: Pixar, Disney, Comscore, Star, Marvel, Century Fox, Sony, Star Wars, Lucasfilm Locations: , Comscore, Anaheim , California
You won't see Steve Martin impersonate Democratic vice presidential nominee Tim Walz when "Saturday Night Live" returns in the fall. "They definitely should get Steve Martin [to] play Tim Walz." "I would like to officially launch my campaign for Steve Martin to play @GovTimWalz on SNL. "I imagine a Tim Walz Father of the Bride Sketch with costar [Martin' Short. They’re gonna find somebody really, really good."
Persons: Steve Martin, Tim Walz, Lorne Michaels, Martin, Lorne, I’m, Kamala Harris, @GovTimWalz, Steve, They’re, Rudolph, Harris Organizations: Democratic, Los Angeles Times, SNL, Times, NBC Locations: Minnesota
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