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The iShares U.S. Pharmaceuticals ETF (IHE) is up 9% since July 2015, when it hit a fresh all-time high. All of the back-and-forth movement since 2015 has produced what could be a monstrous bullish pattern. But we're trying to capture a major breakout from an area that's done next to nothing in nearly a decade. INVA, on the other hand, bottomed in March 2023, and just recently broke out of a large inverse head & shoulders pattern. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.
Persons: IHE, Eli Lilly, Johnson, JNJ, MRK, Frank Cappelleri Organizations: U.S . Pharmaceuticals, IHE, Merck, CNBC, NBC UNIVERSAL Locations: U.S, LLY
Across New York, a slew of Democratic primaries for State Assembly on Tuesday were expected to extend the battle lines between moderate and progressive Democrats over the direction of the party, a fight that has been raging since 2018. Instead, the prevailing factor seemed to be the power of incumbency. In one of the most-watched races, Assemblywoman Stefani Zinerman defeated Eon Huntley, who was supported by the Democratic Socialists of America. Ms. Zinerman, who represents the Bedford-Stuyvesant neighborhood in Brooklyn, had the support of two of the biggest Democratic names in the state, Hakeem Jeffries, the House Democratic leader, and Letitia James, the New York State attorney general. In the Hudson Valley, Didi Barrett, a six-term assemblywoman, turned back a challenge from Claire Cousin, 31, a mother of three who was backed by the Working Families Party.
Persons: Juan Ardila, Assemblywoman Stefani Zinerman, Eon Huntley, Zinerman, Hakeem Jeffries, Letitia James, Didi Barrett, Claire Cousin Organizations: State Assembly, Democratic Socialists of America, Democratic, New York, Working Families Party Locations: New York, Brooklyn, Buffalo, Queens, Bedford, Stuyvesant, New York State, Hudson
Members of Bolivia’s military attempted to storm the presidential palace in the capital, La Paz, on Wednesday afternoon, in an apparent coup attempt led by a top general who declared he was leading an effort to “re-establish democracy.”Video on Bolivian television showed security forces in riot gear occupying the country’s main political square, Plaza Murillo, a camouflaged tank ramming into a palace door and soldiers trying to make their way into the palace. Then, just as quickly as they had appeared, the general, Juan José Zúñiga disappeared, and his supporters in the armed forces pulled back and were replaced by police officers supporting the president. The country’s democratically elected president, Luis Arce, even dared to venture into the plaza, after calling on Bolivians “to organize and mobilize against this coup and in favor of democracy.”
Persons: , Juan José Zúñiga, Luis Arce, Locations: La Paz
CNN —Former Honduran President Juan Orlando Hernandez has been sentenced to 45 years in prison and given an $8 million fine by a US judge for drug trafficking offenses. He has previously denied the charges against him and at his sentencing on Wednesday insisted that he is innocent and was “wrongly and unjustly accused.”In March, a jury in New York found Hernandez guilty on three drug trafficking charges after a two-week trial in Manhattan federal court. He was extradited from Honduras after the US Department of Justice filed three drug-trafficking and firearms related charges against him in 2022. In exchange, prosecutors said, Hernández received millions of dollars in bribes that he used to fuel his rise in Honduran politics. Hernández was president of Honduras from 2014 until 2022.
Persons: Juan Orlando Hernandez, , Hernandez, Prosecutors, Hernández, extraditions, , ” Prosecutors, General Merrick Garland, Hernández “ Organizations: CNN — Former Honduran, US Department of Justice, Justice Department, , Honduran National Police Locations: New York, Manhattan, Honduras, United States
In a video of Arce surrounded by ministers in the palace, he said: "The country is facing an attempted coup d'état. Military troops fire tear gas at people outside the Quemado Palace at the Plaza Murillo in La Paz on June 26, 2024. Bolivian President Luis Arce on Wednesday denounced the unauthorized gathering of soldiers and tanks outside government buildings in the capital La Paz, saying "democracy must be respected." Military troops are deployed at the Plaza de Armas in La Paz on June 26, 2024. Bolivian President Luis Arce on Wednesday denounced the unauthorized gathering of soldiers and tanks outside government buildings in the capital La Paz, saying "democracy must be respected."
Persons: Radoslaw, Luis Arce, Arce, Juan José Zúñiga, Raldes, Zúñiga, Evo Morales Organizations: Plaza Murillo, Getty, Army, Military, Bolivian, Wednesday, La Paz, AFP, Plaza de Armas, La Locations: Plaza, Casa Grande, Bolivian, La Paz, Murillo
Opinion | Opposing Visions of a New South
  + stars: | 2024-06-26 | by ( Charles M. Blow | ) www.nytimes.com   time to read: +1 min
Last week, Governor Wes Moore of Maryland, a Democrat, signed an executive order pardoning 175,000 marijuana convictions, saying, “Today, we take a big step forward toward ensuring equal justice for all.” But, he said, “this won’t be our last effort. We must continue to move in partnership to build a state and society that is more equitable, more just and leaves no one behind.”Meanwhile, Governor Jeff Landry of Louisiana, a Republican, has recently signed several bills that he says are intended to “expand faith in public schools.”One requires teachers and other school employees to address transgender students using the pronouns for the genders listed on their birth certificates — “God gives us our mark,” Landry said. The governor, The Advocate reported last year, “has an intensely anti-L.G.B.T.Q.+ record, having opposed anti-discrimination protections even though he has a gay brother” and, as Louisiana’s attorney general, he “pushed the state’s ban on gender-affirming care for trans youth.”Earlier this month, as nola.com reports, Landry also signed a bill to “block transgender people from using facilities in schools, prisons and domestic violence shelters that align with their gender identity.” In a statement, he said that the bill “protects women’s safety and reinforces the very definition of what it means to be a woman.”
Persons: Wes Moore, Jeff Landry of, , ” Landry, , , Landry Organizations: Republican Locations: Maryland, Jeff Landry of Louisiana
The Supreme Court handed the Biden administration a major practical victory on Wednesday, rejecting a challenge to its contacts with social media platforms to combat what administration officials said was misinformation. The court ruled that the states and users who had challenged the contacts had not suffered the sort of direct injury that gave them standing to sue. The decision, by a 6 to 3 vote, left fundamental legal questions for another day. “For months,” Justice Alito wrote, “high-ranking government officials placed unrelenting pressure on Facebook to suppress Americans’ free speech. Because the court unjustifiably refuses to address this serious threat to the First Amendment, I respectfully dissent.”
Persons: , Amy Coney Barrett, , Samuel A, Alito Jr, Clarence Thomas, Neil M, Gorsuch, Alito, unjustifiably Organizations: Court, Biden, Facebook
Quiet in the C-suiteThree years ago, corporate leaders openly spoke out against Donald Trump over his role in the Jan. 6, 2021, Capitol attack. But as the former president leads in many polls this time around, most in the C-suite are staying quiet. In 2021, C.E.O.s including Mary Barra of General Motors and Doug McMillon of Walmart publicly urged a peaceful transition of power. Only a handful of executives have publicly supported Trump, who was willing to go after perceived enemies in corporate American when he was in office. It’s highly unlikely that tally will reach 902, the number of times the topics were mentioned in 2020 during the same period.
Persons: Donald Trump, Mary Barra, Doug McMillon, Trump, Biden, It’s Organizations: Capitol, General Motors, Walmart
The Vinfast VF6 all-electric vehicle is on display at the 2022 Los Angeles Auto Show on Nov. 18, 2022 in Los Angeles, California. Vietnamese automaker VinFast, for a short time the third-most valuable car company in the world, has a big problem: It just can't sell enough cars. Designed specifically for the Vietnamese and other Asian markets, the VF3 is priced for "mass appeal," according to VinFast. VinFast's future matters for Vietnam, both because its ambitions dovetail with the Communist Party's own goals, and because of parent company Vingroup's large role in the Vietnamese economy. "We will never let VinFast go," he told Vingroup shareholders at their annual general meeting in April, according to state media.
Persons: Le Thi, VinFast, It's, Vingroup, Pham Nhat Vuong, Tu Le Organizations: Angeles Auto, Nasdaq, General Motors Corp, Ford Motor Co, Communist, Vingroup's, U.S . Securities, Exchange Commission, Sino Locations: Los Angeles , California, Le, U.S, VinFast, North Carolina, California, Vietnam, Ukraine, Asia
Neil Hennessy said investors need to look at value stocks that offer attractive price-to-sales multiples and avoid what he sees as a dying "Magnificent Seven" trade. While Hennessy admitted that the Magnificent 7 stocks have performed well, he said their average price-to-earnings multiple sits at around 47 while their price-to-sales multiple is above 12. "The reality of our world is money is shifting over to value," said the University of San Diego alum. But Hennessy said the stock is attractively priced, with a price-to-sales multiple of 0.9 and P/E ratio of just 7. But the average price target implies the stock can turn around and surge more than 27% over the coming year.
Persons: Neil Hennessy, Hennessy, I'm, SPX Organizations: Oshkosh Corp, University of San Diego, Oshkosh, LSEG
CNN —The Supreme Court on Wednesday said the White House and federal agencies such as the FBI may continue to urge social media platforms to take down content the government views as misinformation, handing the Biden administration a technical if important election-year victory. Republican officials in two states – Missouri and Louisiana – and five social media users sued over that practice in 2022, arguing that the White House did far more than “persuade” the tech giants to take down a few deceptive items. That might include, the justices theorized, social media threats targeting public figures or disclosures of sensitive information about US troops. The case arrived at the high court at a time when the government has repeatedly warned of foreign efforts to use social media to influence elections. The jawboning case was one of several high-profile matters the court is deciding at intersection of the First Amendment and social media.
Persons: Biden, Amy Coney Barrett, , ” Barrett, ” Biden, , Hunter, John Roberts, Sonia Sotomayor, Elena Kagan, Brett Kavanaugh, Ketanji Brown Jackson, Alito, Samel Alito, Clarence Thomas, Neil Gorsuch, , ” Alito, , unjustifiably, Vivek Murthy, Roe, Wade, Roberts, Kavanaugh, Barrett Organizations: CNN, White, FBI, Biden, Department of Homeland Security, Facebook, Republican, Centers for Disease Control, Infrastructure Security Agency, Supreme, National Intelligence Locations: – Missouri, Louisiana, Florida, Texas
But, not all AI startups are created equal. AdvertisementBusiness Insider surveyed nine VCs who invest in AI startups at firms like Bain Capital Ventures, Flybridge, and Sapphire Ventures. Startups building AI's "picks and shovels" are a better bet than yet another LLMStep aside, OpenAI and Anthropic. In contrast, unstructured data encompasses various formats such as text documents, images, audio files, emails, social media posts, and videos. Some AI investors say they're shying away from point solutions—think online payment processing or project management—in favor of full-stack solutions.
Persons: , Harvey, Navin Chaddha, Chip Hazard, they're, Kahini Shah, there's, Rak Garg, Garg, Shah, Lauri Moore, Moore, Chaddha, Capital's Moore, she's Organizations: Service, Accel, Business, Bain Capital Ventures, Flybridge, Sapphire Ventures, Google, Meta, Mayfield Fund, Flybridge Capital Partners, Obvious, Investors, Obvious Ventures, Foundation, Dig Ventures Locations: Mayfield, Hazard, Flybridge
Joe Biden and Donald Trump will face off Thursday night for the first general-election debate of the 2024 presidential election cycle. Mr. Trump and his MAGA allies have tried to portray the president as a doddering geriatric who can’t complete a sentence. Simply appearing engaged, alert and coherent will be a victory for Mr. Biden. Mr. Biden would also do well to remember this fact: Incumbent presidents almost always lose the first debate. Mr. Biden must recast the race from a referendum on his presidency to a stark choice between himself and Mr. Trump.
Persons: Joe Biden, Donald Trump, Chris Whipple Chris Whipple, Joe Biden’s, Trump, MAGA, Mr, Biden, Ronald Reagan, Barack Obama, , Obama, we’re, ’ ”, Jim Messina, Obama’s, Herbert Hoover, Organizations: White House Chiefs, Staff
Read previewThe oceans are our planet's largest carbon sink, naturally absorbing about 25% of the carbon dioxide that humans emit. Carbon dioxide removal (CDR) companies like Equatic are trying to harness that natural process to absorb even more. On June 18, Equatic announced it started engineering designs for the world's first commercial-scale, ocean-based CDR plant, Sanders said. The plant could remove carbon dioxide at a rate that's 99,000 times as fast as the oceans. Questions remain about CDR's economic and environmental impactAs ocean-based CDR technology scales up, concerns grow over its environmental impact.
Persons: , Edward Sanders, Equatic, Sanders, Grace, Weiquan Lin, we're, Sergii Petruk, Jessica Cross, Cross Organizations: Service, Business, National Academies of Science, Engineering, Companies, Boeing, Equatic, Pacific Northwest National Laboratory Locations: LA, Singapore
CNN —The Justice Department urged the Supreme Court on Wednesday to reject an effort by former Trump aide Steve Bannon to avoid prison while he appeals his contempt of Congress conviction. A federal judge ruled recently that Bannon must turn himself in by July 1 to begin serving a four-month sentence. Bannon, a conservative podcast host and former strategist for Donald Trump, asked the Supreme Court last week to pause his prison sentence. Bannon “responded to the subpoena with total noncompliance,” Solicitor General Elizabeth Prelogar told the court. Bannon is set to report to the low-security federal prison in Danbury, Connecticut, instead of a minimum-security prison camp he had sought.
Persons: Trump, Steve Bannon, Bannon, Biden, Donald Trump, Peter Navarro, Bannon “, Elizabeth Prelogar, , ” Prelogar, Trump’s Organizations: CNN, The Justice Department, Trump Locations: Washington ,, Danbury , Connecticut
WASHINGTON — The Supreme Court on Wednesday threw out claims that the Biden administration unlawfully coerced social media companies into removing contentious content. In reaching its conclusion, the court overturned an injunction that would have limited contacts between government officials and social media companies on a wide range of issues if allowed to go into effect. The Supreme Court had previously put the injunction on hold. She noted that social media platforms routinely moderated content even before the alleged coercion happened. "In fact, the platforms, acting independently, had strengthened their pre-existing content moderation policies before the government defendants got involved," she added.
Persons: WASHINGTON —, Amy Coney Barrett, Barrett Organizations: Wednesday, Biden Locations: Louisiana, Missouri
But the figure of former President Jacob Zuma and his new political party uMkhonto – or simply “MK” – provoked more reaction. Jerome Delay/APMoreover, according to Herman, pro-Zuma conspiracy theories and propaganda, some with Russian fingerprints, had been flooding South African social media in the lead-up to the election. And even as Zuma takes pages from Trump’s playbook, South Africans may be telling a different narrative. Facing pressure, Zuma resigned as South African president in 2018. Though some South Africans still admire the US’ capitalist spirit, I find that the South African friends who visit me in the US don’t always feel at ease anymore.
Persons: Sean Jacobs, Cape Town CNN —, Read, Nelson Mandela –, Jacob Zuma, uMkhonto, , , Herman Wasserman, Herman, Zuma, Donald Trump’s, Jerome Delay, Trump’s, Mandela, Michele Spatari, Duduzile, Jacob Zuma's, MK’s, Zuma’s, , jestingly liken Donald Trump, Jacob Zuma of, Putin, playbook, Nelson Mandela, Alexander Joe, Trump, “ I’ve, it’s Biden, won’t Organizations: CNN, New School, Cape Town CNN, African National Congress, Zulu, Stellenbosch University, Former South, ANC, Getty, Democratic Alliance, DA, South, Trump, Jacob Zuma of America, Durban, International Court of Justice, Global Locations: Africa, South Africa, Stellenbosch, Cape Town, America, Taiwan, Germany Riding, United States, Orlando, Soweto, Johannesburg, Trump’s playbook, South, Robben, Orange Farm, AFP, Cape, Durban, Russia, States, China, Israel, New York City
A recent survey of Chinese enterprises in the U.S. has found that a majority remain bullish on the market long term despite growing concerns about U.S.-China relations and the broader business environment. The survey was conducted in April and May of this year, polling nearly 100 Chinese companies across various industries about performance and outlook. The report said Chinese firms remain committed to the U.S. market despite growing negative sentiment about the overall business environment amid rising trade tensions between the world's two largest economies. Over 60% of survey respondents saw a deteriorating business environment in the U.S. Over the past year, the Biden administration has ramped up curbs on Chinese businesses, scrutinizing certain China-dominated industries, placing new sanctions on various Chinese firms and goods and trying to outright block Chinese ownership of certain companies and platforms.
Persons: CGCC, Biden Organizations: Chamber of Commerce Locations: U.S, China
The release was a stunning development at the Supreme Court, which usually safeguards the release of its opinions. The abortion case was considered among the most significant of the current term that is winding down ahead of the July 4 holiday. A Supreme Court spokeswoman confirmed that a “document” was “inadvertently and briefly uploaded” to the court’s website. The decision came days after the Supreme Court unanimously rejected an effort by anti-abortion groups to limit access to the abortion pill mifepristone. In January, the Supreme Court agreed to decide the case and allowed the law to take effect while it did so.
Persons: Roe, Wade –, Biden, , , Patricia McCabe, Elena Kagan, Justice Ketanji Brown Jackson, wouldn’t, Steve Vladeck, Case, Reagan, Elizabeth Prelogar, Prelogar, Amy Coney Barrett, Joshua Turner, Weeks Organizations: CNN, Bloomberg News, Bloomberg, Supreme, Politico, US, Justice, University of Texas School of Law, of Justice, White, Justice Department, Idaho, Labor, Biden, Republican Locations: Idaho
But key challenges face the country as it looks to become the world's third-biggest AI hub. At the London Tech Week conference in the Olympia events venue earlier this month, tech executives from around the world touted London and the U.K. as a place to invest. London vs. FranceLondon is facing heated rivalry from France for the title of European AI leader. Can the UK keep its European AI crown? Seeking regulatory clarityAnother key source of uncertainty for tech leaders is the future of AI regulation in the U.K.
Persons: Mike Kemp, Alex Kendall, — Kendall, Wayve's, Brent Hoberman, Wayve, it's, Salesforce, Janet Coyle, Coyle, Arthur Mensch, Hanno Renner, that's, Europe's, CNBC's, Philip Belamant, Zilch, Matthew Holman, Cripps, Holman Organizations: Global, London Tech, Sage, Google, London, Partners, Viva Tech, Accel, CNBC, Mistral France Paris, Alpha, Alpha Germany Heidelberg, Face France Paris, France Paris, United, United Kingdom London, Kingdom London, Tech, European Union Locations: London, United Kingdom, China, Olympia, SoftBank, San Francisco, Vancouver . U.S, France London, France, Brazil, Silicon, Europe, Paris, Berlin, Alpha Germany, Germany, Brexit, Britain
Atlanta, Georgia CNN —The headwinds facing President Joe Biden’s reelection bid are as apparent in Georgia as any battleground. “President Trump still has to earn these Republican voters,” said Kelvin King, who was among Trump’s most prominent Black supporters in Georgia in 2016 and 2020. “Atlanta rent is way up, food prices soaring to record highs but Biden claims he’s lowering costs. “You know what you’re getting with Joe Biden,” Davis said in an interview in her store, the Beehive. “To me, former President Donald Trump just isn’t an option whatsoever.”The question is whether Singleton stands alone or represents a broader view among young voters.
Persons: Joe Biden’s, Donald Trump, Trump, , Kelvin King, he’s, ” King, , King, “ He’s, denialism —, Brian Kemp, Brad Raffensperger, ” Biden, Biden, who’s, “ We’ve, Keisha Lance Bottoms, “ We’re, aren’t, , , Democrat Mariama Davis, Joe Biden, ” Davis, He’s, Davis, it’s, battlegrounds Trump, Kamala Harris, ” Harris, “ Young, Kerry Singleton Jr, Singleton, ” Singleton, that’s Organizations: Georgia CNN, CNN, Republican, Trump, US, America, Biden, Democratic, Gov, Atlanta, Georgia, Democrat, Morehouse College Locations: Atlanta, Georgia, Arizona, Nevada, Wisconsin , Michigan, Pennsylvania, Nebraska
Read previewAs St. Louis continues its guaranteed basic income pilot, two residents are suing to cut the program's funding. The plaintiffs, Greg Tumlin and Fred Hale, are both St. Louis residents. Adam Layne, the St. Louis city treasurer, previously told BI that St. Louis residents have primarily used their $500 a month to pay bills. BI reached out to the city of St. Louis and St. Louis Guaranteed Income for comment, but the parties did not respond by the time of publication. States like South Dakota, Arizona, and Iowa, Republican politicians have also brought basic income bans to the state legislature.
Persons: , Louis, Greg Tumlin, Fred Hale, Tumlin, Adam Layne, Louis GBI, Joe Biden's, Jack Dorsey, St, Ken Paxton, Attorney Christian D Organizations: Service, Business, ARPA, BI, Texas Supreme, Attorney Locations: Missouri, state's, Louis, St, Texas, Harris, Harris County, Houston, States, South Dakota , Arizona, Iowa
CNN —The Tennessee Attorney General’s office has turned its investigation into the failed foreclosure attempt of Elvis Presley’s Graceland estate over to federal investigators, according to a statement provided by his office. “The Tennessee Attorney General’s Office looked into the Graceland matter, and it quickly became apparent that this was a matter best suited for federal law enforcement. We have faith in our federal partners and know they will handle this appropriately,” said Amy Lannom Wilhite, communications director for Tennessee Attorney General John Skrmetti. Keough claimed fraud and sued to protect the estate from foreclosure. A Shelby County Chancery Judge agreed and blocked the sale, and Naussany said it had dropped its foreclosure efforts.
Persons: General’s, Elvis Presley’s, Tennessee Attorney General’s, , Amy Lannom Wilhite, John Skrmetti, Riley Keough, Elvis Presley, Naussany, Lisa Marie Presley, Keough, Skrmetti Organizations: CNN, Tennessee, Tennessee Attorney, Naussany Investments, Justice Locations: Shelby County
Rivian Automotive — Shares of Rivian Automotive skyrocketed more than 40% after the electric vehicle company secured up to $5 billion in funding from Volkswagen Group. A so-called short squeeze added fuel to the gain as about 19% of the Rivian shares available for trading were sold short before this news, according to FactSet. Nvidia — The chip stock added more than 2%, building on a nearly 7% rebound during Tuesday's session. Aptiv — The automotive technology stock dropped 7% after Piper Sandler downgraded Aptiv to underweight from neutral and cut its price target. Robinhood — Shares added 3%.
Persons: Bosch, Mills, Aptiv, Piper Sandler, Campbell, Ken Goldman, Wolfe, Sarah Min, Lisa Han, Jesse Pound, Michelle Fox Organizations: Rivian Automotive, Volkswagen Group, FactSet, FedEx — FedEx, Whirlpool, Reuters, Southwest Airlines —, Nvidia, Citi Research, Rivian, Volkswagen, JPMorgan, United States Steel, BMO Capital Markets, U.S, Steel, Nippon Steel, Micron Technology Locations: Tuesday's
CNN —Bolivia’s President Luis Arce called on the country to “organize and mobilize against the coup d’état, in favor of democracy” as soldiers and armored military vehicles positioned themselves around governmental buildings in La Paz on Wednesday. “We cannot allow coup attempts to take Bolivian lives once again. It is unclear why military units are in Murillo Plaza and how many there are. Paraguay’s President Santiago Peña stressed that democracy and the rule of law be respected, in a statement on X. According to state media agency ABI, the military mobilization began around 2:30 p.m. local time.
Persons: CNN —, Luis Arce, , , ” Arce, Evo Morales, ” Morales, ” Bolivia’s, David Choquehuanca, Santiago Peña, Luis Almagro, Josep Borrell Organizations: CNN, Murillo Plaza, Associated Press, Movement, Socialism, Bolivia ”, Wednesday, International, Paraguay’s, Organization of American States, Bolivian, ABI Locations: La Paz, Casa Grande ., Murillo, Bolivia
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