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Hopes that the Fed will soon end its aggressive monetary policy tightening have helped the benchmark S&P 500 (.SPX) stabilize so far in April after the collapse of two U.S. mid-sized lenders sparked a selloff last month. This marks a shift in traders' bets of a pause in the Fed's policy tightening after recent weak economic data raised the possibility of a U.S. recession. Data on Wednesday is expected to show consumer prices grew 5.2% in March after a 6.0% rise in February. Analysts expect first-quarter profits at S&P 500 companies to fall 5.2% year-on-year, a stark reversal from the 1.4% annual growth expected at the beginning of the year, according to Refinitiv data. ET, Dow e-minis were up 24 points, or 0.07%, S&P 500 e-minis were up 4.25 points, or 0.10%, and Nasdaq 100 e-minis were down 2.25 points, or 0.02%.
Futures edge higher as focus shifts to inflation data, earnings
  + stars: | 2023-04-11 | by ( ) www.reuters.com   time to read: +2 min
SummarySummary Companies Futures up: Dow 0.15%, S&P 0.26%, Nasdaq 0.34%April 11 (Reuters) - U.S. stock index futures rose on Tuesday as investors awaited inflation data to gauge the Federal Reserve's next policy moves, while caution prevailed ahead of the quarterly earnings season. All eyes will be on the inflation data on Wednesday, with economists forecasting consumer prices to grow 5.2% in March after a 6.0% rise in February. Big U.S. banks Citigroup Inc (C.N), JPMorgan Chase & Co (JPM.N) and Wells Fargo & Co (WFC.N) will kick off the first-quarter earnings season. Investors will be scrutinizing the earnings reports for clues on the overall health of the banking sector. ET, Dow e-minis were up 51 points, or 0.15%, S&P 500 e-minis were up 10.75 points, or 0.26%, and Nasdaq 100 e-minis were up 44.75 points, or 0.34%.
Losses in megacap stocks such as Microsoft Corp (MSFT.O) and Amazon.com Inc (AMZN.O) weighed on the tech-heavy Nasdaq, while gains in industrial stocks such as Caterpillar Inc (CAT.N) boosted the Dow. Hopes that the Fed will soon end its aggressive monetary policy tightening helped the S&P 500 stabilize so far in April after the collapse of two U.S. mid-sized lenders sparked a selloff last month. Analysts expect first-quarter profits at S&P 500 companies to fall 5.2% year-on-year, a stark reversal from the 1.4% annual growth expected at the beginning of the year, according to Refinitiv data. Seven of the 11 major S&P sectors rose, with gains in industrial (.SPLRCI) and material (.SPLRCM) shares offsetting losses in technology (.SPLRCT) stocks. The S&P index recorded three new 52-week highs and no new low, while the Nasdaq recorded 32 new highs and 30 new lows.
Human rights body urges El Salvador to restore civil rights
  + stars: | 2023-04-06 | by ( ) www.reuters.com   time to read: +2 min
SAN SALVADOR, April 6 (Reuters) - A regional human rights body implored El Salvador's government on Thursday to reverse a year-long suspension of constitutional rights that form part of a sweeping anti-gang crackdown enacted last year and credited with sharply reducing violent crime. In a statement, the Inter-American Commission on Human Rights (IACHR), part of the Washington-based Organization of American States, called on President Nayib Bukele and his allies in Congress to restore rights put on hold by the so-called state of exception. The emergency powers allow police to swiftly arrest and jail suspected gang members while suspending their right to a lawyer and court approval of preliminary detention. "IACHR calls on the government of El Salvador to restore the full validity of the rights and guarantees suspended during the last 12 months within the framework of the emergency regime," the body said in a statement. The state of exception followed the murders, blamed on gangs, of nearly 90 people over a single weekend in March 2022.
[1/4] People participate in a protest to demand the release of relatives detained following a year-long state of emergency against gangs, in San Salvador, El Salvador March 28, 2023. In the capital San Salvador, many chanted "freedom for the innocent," in a march on Congress that attracted an estimated 500 protesters, according to organizer Samuel Ramirez. Holding a sign addressed to Bukele, 56-year-old housewife Maria Ruiz described the arrest of her husband Manuel Argumedo as an injustice. Another protester, Rosa Ramos, 43, called for the release of her two adult sons detained over the past couple months, despite what she says were no gang ties. Reporting by Nelson Renteria; Writing by Valentine Hilaire; Editing by David Alire Garcia and Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.
Every previous boom and bust in tech over the decades has resulted in winners and losers. The ones that survived were those that stayed agile, kept focused on innovation, and made sure their foundations were solid. Whichever way you slice it, one thing is certain, the valuations of most major tech companies were high — and now they're not. For Dr. Govindarajan, the theme is austerity, telling Insider that tech "can't afford to be wasteful" anymore. Some people would've lost," said Dr. Govindarajan.
Google (GOOGL), which for years ranked as the top company to work for in the United States, laid off thousands of workers by e-mail. During her early years there, she worked in marketing and became known as the “The Bard of Google” for the internal emails she sent celebrating the company’s culture. Google employee affected by January layoffs“The problem was, suddenly, you didn’t work for a company that was sending stuff to space or building autonomous cars,” Rout said. Hundreds of Google employees in Switzerland staged a walkout last week to protest layoffs, partly out of frustration with the lack of transparency. About a month before the January layoffs, one former employee said Google painted “You Belong” on one of the walls in their working area.
Laxman Narasimhan officially took over as Starbucks CEO, replacing Howard Schultz. Narasimhan is new to the coffee industry, having started his career in the consulting world before joining PepsiCo, and, later, British consumer goods company Reckitt Benckiser. Narasimhan built his career in the beverage and consumer-goods industriesLaxman Narasimhan at Starbucks Investor Day in September 2022. Starbucks said at the time that Narasimhan would begin as CEO on April 1, taking over for interim CEO Schultz. Of the 365 Starbucks stores that have held votes to unionize, 292 have voted to form a union.
The Higgins boat is one of the iconic vessels of World War II. Andrew Higgins, center, developed several kinds of landing craft that were invaluable during World War II. His landing craft were used in every major amphibious assault of World War II, from the shores of Europe to the Pacific islands. National World War II MuseumBorn in Nebraska in 1886, Higgins ran newspaper routes and started a lawn-mowing company as a child. In one instance, Navy officials expressed interest in seeing a design for a new 56-foot tank landing craft three days before a scheduled visit to see another type of landing craft.
Bitcoin, USDC stablecoin rally after U.S. intervenes on SVB
  + stars: | 2023-03-13 | by ( ) www.reuters.com   time to read: +3 min
SINGAPORE, March 13 (Reuters) - Bitcoin and other cryptocurrencies rallied on Monday after U.S. authorities announced plans to limit the fallout from the collapse of Silicon Valley Bank (SVB) and as cryptocurrency firm Circle assured investors its peg was secure. The moves came as authorities took possession of New York-based Signature Bank (SBNY.O), the second bank failure in a matter of days. Stablecoin USD Coin (USDC) recovered to $0.9917, closer to its par and up from last week's lows around $0.88. Over the weekend, USDC had lost its 1:1 dollar peg and hit a record low on Saturday on concerns over the exposure of Circle — the firm behind USDC — to Silicon Valley Bank. Circle CEO Jeremy Allaire said in a tweet its $3.3 billion USDC reserve deposit held at the collapsed Silicon Valley Bank (SIVB.O) will be fully available when U.S. banks open Monday.
Futures tracking the tech-heavy Nasdaq led the gains as U.S. Treasury yields dipped to one-month lows, but were off session highs. Money market bets have also changed dramatically, with participants now betting an 80.4% chance of a 25 basis points rate hike in March instead of a 50 bps increase, with the rest expecting a status quo. Goldman Sachs analysts said they no longer expect the Fed to raise rates by 25 basis points at its next policy meeting on March 21-22. SVB's failure followed sharp interest rate hikes that hurt its startup customers and a failed capital raise attempt by the bank, spurring deposit withdrawals. ET, Dow e-minis were up 82 points, or 0.26%, S&P 500 e-minis were up 21.25 points, or 0.55%, and Nasdaq 100 e-minis were up 90 points, or 0.76%.
Crypto stocks slide after Silvergate decides to shut down
  + stars: | 2023-03-09 | by ( ) www.reuters.com   time to read: +1 min
The crypto lender's shares slumped 45% to $2.86, a day after hitting a record low and losing 64% since the company flagged a going concern risk on March 1. Shares of Signature Bank (SBNY.O), which uses blockchain technology, fell 9%. Crypto exchange Coinbase Global (COIN.O), which severed ties with the bank last week, dropped 3%. Silvergate's announcement also adds to a list of high-profile collapses of crypto market players since last year. With Silvergate shares down 95% over the past 12 months, and 72% so far this year, shorting has been a profitable trade for bearish investors.
The setbacks were likely to put Merck further behind in its quest to develop a treatment for advanced forms of the most common cancer type in the United States. It had in January stopped a late-stage study of the drug in some prostate cancer patients. An interim analysis showed the combination therapy did not extend survival or help extend the time a patient lives without the disease worsening compared to placebo, Merck said. Merck was testing its blockbuster immunotherapy in combination with androgen deprivation therapy and Xtandi, made by Pfizer Inc (PFE.N) and Astellas Pharma Inc (4503.T), in patients with an advanced form of treatment-resistant prostate cancer. Additionally, Merck said another combination treatment with Keytruda did not meet the main goal in a separate late-stage study for a type of lung cancer that can spread to other parts of the body.
New York CNN —Fifteen years ago, Howard Schultz reprised his role as Starbucks CEO, returning to the helm to help put the struggling company back on course. Even before he officially rejoined the company, Schultz was already alarmed by the union push. In the months since returning as CEO, Schultz has doubled down on his opposition to the union. “The fact that Starbucks workers are continuing to organize and win shows just how much workers need and desire a union,” Starbucks Workers United said in a statement to CNN. As a CEO, Schultz has been responding “very typically,” Givan said, in how strongly he’s opposed the union.
Sam Altman, CEO of OpenAI, walks from lunch during the Allen & Company Sun Valley Conference on July 6, 2022, in Sun Valley, Idaho. Sam Altman may be tech's next household name, but many Americans probably haven't heard of him. To anyone outside San Francisco, Altman would probably seem like just another young tech CEO. That worldview flared up into controversy in 2017 when Altman wrote a blog post criticizing political correctness, saying tech entrepreneurs were leaving San Francisco over it. "I realized I felt more comfortable discussing controversial ideas in Beijing than in San Francisco," he wrote.
How Deadly Was China’s Covid Wave?
  + stars: | 2023-02-15 | by ( James Glanz | Mara Hvistendahl | Agnes Chang | ) www.nytimes.com   time to read: +15 min
China’s official count 0 2.5 million 83,150 deaths Model based on Shanghai outbreak 1.6 million deaths LOW ESTIMATE HIGH ESTIMATE Estimate using travel patterns 970,000 deaths Estimate using recent testing data 1.5 million deaths Estimate based on U.S. death rates 1.1 million deaths China’s official count 0 2.5 million 83,150 deaths Model based on Shanghai outbreak 1.6 million deaths LOW EST. But China’s official Covid death toll for the entire pandemic remains strikingly low: 83,150 people as of Feb. 9. Four separate academic teams have converged on broadly similar estimates: China’s Covid wave may have killed between a million and 1.5 million people. Why official data underrepresents China’s outbreak83,150 deaths China’s official count on Feb. 9 0 2.5M 83,150 deaths China’s official count on Feb. 9 0 2.5 millionChina has a narrow definition of what counts as a Covid-19 death. But the work was unwavering in its ultimate conclusion: Ending the “zero Covid” policy was likely to overwhelm the health care system, producing an estimated 1.6 million deaths.
Bed Bath & Beyond's spiral toward bankruptcy is the result of four big missteps, Bloomberg reports. But it also bet too big on private-label brands and initiated a too-ambitious stock buyback program. But its challenges began years ago, with four key decisions leading to its financial woes, company insiders told Bloomberg. Here are Bed Bath & Beyond's biggest missteps over the years:Missing out on the online shopping boomBed Bath & Beyond's success in brick-and-mortar retailing meant that it was slow to recognize the importance of e-commerce and invest in selling goods online. "Our customer has communicated clearly that national brands are a really important part of their shopping experience with us," Mara Sirhal, Bed Bath & Beyond's brand president, said during a financial-update call.
Julia Fox apologized for not knowing how TikTokers use the term "mascara" on the app. Fox left a comment on a video in which a TikToker use the term to discuss their sexual assault. That's because, in this case, "mascara" wasn't actually mascara. The poster of the video Fox commented under declined to comment further, but told Insider that Fox "'apologized' on a video of mine but has not given me a personal apology through a message or anything like that." TikTok;@niyxhwatsonIn her response TikTok story, Fox also mentioned that the viral experience had opened her up to a wave of online harassment.
Fans are lobbying for TikTok creator Sean Dorrough to replace Justin Roiland in 'Rick and Morty.' Fans have flooded Dorrough's accounts, tagging Adult Swim and leaving comments like "Replace Justin for Rick and Morty," and "Any calls from Adult Swim yet?" Dorrough told Insider he'd reached out to Roiland about a year ago after noticing an interview in which Roiland mentioned Dorrough's impressions. And, Dorrough told Insider, it's why he doesn't "dub a lot of cartoons." As a spokesperson previously told Insider, "Adult Swim has ended its association with Justin Roiland."
Gerard Piqué went Instagram-official with 23-year-old Clara Chia Marti after his split with Shakira. The pop star released a diss track seemingly aimed at Piqué in January, which broke a YouTube record. In August, photos published by the Daily Mail of Piqué and Clara Chia Marti seemed to confirm the couple's romance about three months after his split from 45-year-old Shakira. On January 15, a video appearing to show Piqué driving a Twingo to a press conference was posted to Twitter. In November, the former couple reached a custody agreement in which their two children would move to Miami with Shakira.
Since the incident, a sense of shock has rippled through the school’s Asian community. The students say that conversations around the incident have been active among the Asian Americans on campus. Karen Cheng, a senior at the university and the president of the school’s Asian American Association, noted a similar sense of fear. As an Asian American woman, she said, public safety concerns predate the tragedy. But the community is also flanked by some areas with white supremacist activity, something many Asian American students are aware of, Cheng said.
LOS ANGELES — Actor Julian Sands has been missing for five days since he went hiking on Southern California's Mt. Sands, 65, was reported missing in the Baldy Bowl area around 7:30 p.m. Friday, said Mara Rodriguez, a spokesperson for the San Bernardino County Sheriff's Department. Actor Julian Sands in Beverly Hills, Calif., on May 5, 2013. Richard Shotwell / Invision/AP fileThe sheriff's department recommended people heed warnings and avoid the area, where high winds and ice have made for treacherous conditions. Sands, an English-born actor, starred in the 1985 movie "A Room With a View" and other films, including "Warlock" (1989) and "Arachnophobia" (1990).
"We had an air crew up today and there were no signs of Mr. Sands," Rodriguez told Reuters by email. The Baldy Bowl, a large sloping area below the crest of the Mount Baldy ski area, is a popular destination for skiers, climbers and backpackers. Cellphone signals detected on Sunday, Jan. 15, showed Sands was then heading to the Mount Baldy area, apparently the latest indication he was still on the move. The Sheriff's Department has warned that severe winter weather, following weeks of storms that dumped heavy snow in California mountains, has made the Baldy area dangerous for outdoor recreation. Sands' Los Angeles-based representative could not immediately be reached for comment.
Skillshare has over 34,000 online video courses, most taught by experts in their fields. Below is an overview of the Skillshare platform, FAQ, and 15 great online courses to take. It has over 34,000 video courses taught by experts in the field, including high-profile names like bestselling author Roxane Gay. Skillshare Annual Subscription Skillshare offers more than 25,000 online classesHow does Skillshare work? Other than the free trial, Skillshare doesn't offer free courses or any certificates to add to your LinkedIn for employers to see.
In this article BBBY Follow your favorite stocks CREATE FREE ACCOUNTA pedestrian walks by a Bed Bath and Beyond store in San Francisco, California. Justin Sullivan | Getty ImagesWhen Bed Bath & Beyond leaders speak to investors Tuesday morning, they won't simply report sales and earnings results. On Thursday, Bed Bath warned it may have to file for bankruptcy, saying it could soon be unable to cover costs as sales lag and store traffic dwindles. If Bed Bath has made significant inroads in improving inventory, it could offer a glimmer of hope for the quarters ahead. Before Bed Bath can address moving product off shelves, though, it needs to tackle an even more fundamental problem: having enough merchandise to fill them.
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