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Bank of America strategist says it's time to get bearish
  + stars: | 2024-07-22 | by ( Ganesh Rao | ) www.cnbc.com   time to read: +3 min
As stocks pull back from all-time highs, a top Bank of America strategist warned investors to be cautious, citing a series of economic indicators that have historically signaled the end of a rally. "Historically, whenever the unemployment rate has started to rise, it has never gone down again. The unemployment rate unexpectedly climbed to 4.1% in June , tied for the highest level since October 2021. The strategist added that such conditions typically lead to higher risk premiums and lower asset prices, especially given the current elevated market levels. The Bank of America strategist also expressed concern about consumer confidence, which he described as "collapsing."
Persons: Sebastian Raedler, Raedler, Hani Redha, Redha, Peter Lynch Organizations: Bank of America, . Treasury, University of Michigan, Pine, Investments Locations: U.S
CNN —Incoming Utah State cornerback Andre Seldon Jr. died Saturday in an apparent cliff-diving accident at a reservoir about 20 miles from the school’s campus, the university said in a statement. The university identified the victim as Seldon, 22, who was joining the football team this year after two seasons at New Mexico State University and two at the University of Michigan. “Our football program is heartbroken to have to endure the loss of one of our own,” said Utah State interim Head Coach Nate Dreiling, who had joined the program after serving as New Mexico State’s defensive coordinator for two seasons. Seldon, who played all 15 New Mexico State games in 2023, transferred into the football program over the summer and was set to start classes this fall, according to the university. “Having had a previous relationship with Andre during our time together at New Mexico State, I can tell you he was an incredible person and teammate,” Dreiling said.
Persons: Andre Seldon Jr, Seldon, , Nate Dreiling, Andre, ” Dreiling, , ” Seldon, Danielle Smith, Andre Seldon Sr Organizations: CNN — Incoming Utah State, Utah Department of Public Safety, New Mexico State University, University of Michigan, Utah State, New Mexico State’s, New Mexico State, , New, Athletics Locations: Utah, New Mexico, New Mexico State
Elysian unveils fully electric 90-passenger plane
  + stars: | 2024-07-15 | by ( Jacopo Prisco | ) edition.cnn.com   time to read: +9 min
“You shouldn’t assume that an electric plane is going to look like the (most successful) planes of today,” de Vries says, adding that a common misconception is that electric planes should essentially be electrified versions of the lightest regional turboprops. What you end up with is a plane that in weight proportions, for example, looks much more like old 1960s jets. Israeli-founded Eviation has flight-tested its plane, called Alice – a fully electric nine-passenger commuter plane with a range of 250 nautical miles that the company aims to put into service in 2027. “There are over 5,000 aircraft in service today in the E9X’s size category of 70 to 100 seats,” he says. If Elysian can surmount the technology and infrastructure challenges, he adds, it will then face the commercial challenge of entering a fiercely competitive market.
Persons: it’s, Reynard de Vries, ” de Vries, de Vries, Vries, Rob Wolleswinkel, Elysian’s, , de, Daniel Rosen Jacobson, Jordi Huisman, Çınar, Eviation, Alice –, Gary Crichlow, Crichlow, ” Crichlow Organizations: CNN — Commercial, Elysian, Boeing, Airbus, Delft University of Technology, , University of Michigan, Heart Aerospace Locations: Netherlands, de Vries, British, American
On October 29, 2022, the Michigan State Spartans, a college football team, played a game against the University of Michigan. Only two weeks before the game, media applauded the Spartans for "finally showing resilience" and breaking a four-game losing streak. Soraya Chemaly is the author of "The Resilience Myth: New Thinking on Grit, Strength, and Growth After Trauma." Courtesy of Soraya ChemalyKnowing when to stop is a good thingChildren who want to stop a sport or "give up" a pursuit often feel like failures. Excerpted from The Resilience Myth: New Thinking on Grit, Strength, and Growth After Trauma by Soraya Chemaly.
Persons: , Soraya Chemaly, Angela Duckworth, Thelma Gibson Organizations: Service, Athletics, Sports, Business, Michigan State Spartans, University of Michigan, Spartans, Spartan, Michigan State, TED, Bahamian, Signal Publishers Locations: United States, Michigan
U.S. stock futures were little changed Thursday night after the S&P 500 had its worst session since April, dragged lower by investors' rotation out of mega-cap tech stocks. S&P 500 futures were marginally higher. Futures linked to the Dow Jones Industrial Average were up by around 0.1%, while Nasdaq 100 futures traded near the flatline. Investors sold their Big Tech winners, pushing Nvidia lower by 5.6% and leading to a 4.1% decline for Meta Platforms . The S&P 500 is up 0.3% through Thursday's close, while the Nasdaq is down nearly 0.4%.
Persons: Dow, Russell, Warren, We've, Wells Organizations: New York Stock Exchange, Dow Jones, Nasdaq, Investors, Big Tech, Meta, Traders, Federal, 3Fourteen, JPMorgan Chase, Citigroup, University of Michigan Locations: Thursday's, Wells Fargo
That's why city officials in Pomona, California — a city in LA county — are planning to offer guaranteed basic income to new parents. The basic income pilot — called Pomona Household Universal Grants Pilot Program — is run through the city and FORWARD, an organization that helps governments administer resources to their communities. Pomona's program mirrors over 100 basic income pilots across America. Basic income continues to face political and legal opposition across the US, and not all policymakers agree that cash payments are a sustainable approach to poverty. Have you benefited from a guaranteed basic income program?
Persons: , Joe Biden's, Tim Sandoval, Sandoval, Louis, Luke Shaefer, Shaefer Organizations: Service, Business, Pomona Household, SNAP, University of California, Mayor, Child Tax, Infants, University of Michigan Locations: Pomona , California, LA, Pomona, America, Los Angeles, Baltimore, St, Marin County , California, Flint
Washington CNN —A vast swath of the US economy is showing signs of weakness as unemployment rises to its highest point in more than two years. “When you think of services, a lot of it is driven by the consumer, and consumers are key to where the US economy goes,” James Knightley, chief international economist at ING, told CNN. Consumer spending, which makes up about 70% of the US economy, has already moderated over the past few months, government statistics show, and retailers themselves have said they’ve noticed shoppers across the income spectrum change their purchasing behavior. The bottom 60% of households by income accounted for a larger proportion of spending on health care services. These firms have added 168,000 jobs a month, on average, from April through June, according to fresh Labor Department data released Friday.
Persons: , ” James Knightley, “ We’re, Knightley, Scott Hamilton, Gallagher, It’s, Tesla, China’s Geely, Laura He, Elon, Jerome Powell, Michael Barr, Michelle Bowman, Austan Goolsbee, Raphael Bostic Organizations: CNN Business, Bell, Washington CNN, Institute, Supply, ING, CNN, Commerce, Service, Labor Department, EV, Volvo, SAIC, Elon Musk’s, Business, Committee, Fed, China’s National Bureau of Statistics, Financial Services, Chicago Fed, Pepsico, Delta Air Lines, ConAgra Brands, US Labor Department, Atlanta Fed, JPMorgan Chase, Citigroup, The, New York Mellon, The University of Michigan Locations: Washington, United States, California, Jiangsu, China, Shanghai, Wells Fargo
Getty Images; Shutterstock; BIThe traditional path to private equity starts with an investment banking job out of college. In 2023, private equity firms started reaching out in July before junior investment bankers finished their summer training. But at its core, private equity is in the business of making money by buying and running companies. Samantha Lee/InsiderA small group of headhunters and other advisors hold power over the private equity recruitment process. More on private equity pay and hiring:Have private equity's 'Hunger Games' recruiting tactics gone too far?
Persons: , Blackstone, Apollo isn't, Goldman Sachs, it's, David Wurtzbacher, Wurtzbacher, Wharton, Graham Weaver, you've, Samantha Lee, We've, Jon Gray, Drew Angerer, Skye Gould, Steve Schwarzman, Jonathan Gray, Gray, Thoma Bravo, Atlantic's, Carlyle, Warburg Pincus, Wharton's, Axel Springer Organizations: Service, Apollo, KKR, Business, Getty, CPA, BI, Alpine Partners, Alpine's, Harvard Business School, Stanford's Graduate School of Business, Alpine, of Foreign Labor, Bain Capital, Blackstone, Harvard, Games, Wall, Citadel, headhunters, dealmakers, Private, PJT Partners, Centerbridge, of Michigan Locations: San Francisco, UPenn, Carlyle, Blackstone, Axel
Some key inflation readings in the week ahead could bolster the case for a September interest rate cut, as investors deliberate how long stocks can sustain their rally to record highs. After a rocky start to the year, a recently improving inflation picture has investors hopeful the Federal Reserve could soon start to lower rates. Stubborn inflation patches The June consumer price index is expected to show a slight improvement in the headline number. In May, for example, shelter inflation rose 0.4% on the month and 5.4% on the year, while other key items declined. Monday, July 8 3 p.m. Consumer Credit (May) Tuesday, July 9 6 a.m. NFIB Small Business Index (June) Wednesday, July 10 10 a.m. Wholesale Inventories final (May) Thursday, July 11 8:30 a.m. Consumer Price Index (June) 8:30 a.m.
Persons: nonfarm payrolls, Mark Malek, FactSet, there's, Ross Mayfield, Baird, Mayfield, David Kelly, CNBC's, Wells, Price, JPMorgan Chase Organizations: Reserve, Dow Jones, Nasdaq, CPI, PPI, FactSet, University of Michigan, Asset Management, Citigroup, JPMorgan Chase, PepsiCo, Delta Air Lines, Consumer Credit, Treasury Budget, Air Lines, Conagra, JPMorgan, Bank of New York Mellon Locations: U.S, Wells Fargo, Michigan, Fastenal
AI-generated so-called deepfakes are only exacerbating the problem and making it easier than ever to spread disinformation and misinformation via social media. Social media companies are protected from civil liability under a US lawSocial media has largely gone unregulated since its birth nearly three decades ago. So what's been the struggle for the government to address the issue of disinformation and misinformation on social media head-on? Related storiesMcQuade proposed amending Section 230 in order to hold social media companies accountable under certain circumstances. Major social media companies have their own misinformation policiesMany major social media companies, including Meta, TikTok and X, have their own policies when it comes to tackling misinformation and disinformation.
Persons: , Barbara McQuade, McQuade, we've, what's, Gautaum Hans, Hans, there's, Donald Trump, Joe Biden, Biden, We've, abetted, Meta, Taylor Swift, Elon Musk Organizations: Service, United, Business, University of Michigan, US Department of Homeland Security, ABC News, Social, Communications, Big Tech, Cornell University, Republican, Democratic, US, Twitter, Google, Meta, Elon
“This discovery is important because it shows that after the extinction of the dinosaurs, grapes really started to spread across the world.”Much like the soft tissues of animals, actual fruits don’t preserve well in the fossil record. How ancient forests changedWhen the dinosaurs went extinct, their absence changed the entire structure of forests, the team hypothesized. “In the fossil record, we start to see more plants that use vines to climb up trees, like grapes, around this time,” Herrera said. Meanwhile, as a diverse set of birds and mammals began to populate Earth after the disappearance of the dinosaurs, they likely also helped spread grape seeds. Several fossils are related to modern grapes and others are distant relatives or grapes native to the Western Hemisphere.
Persons: hadn’t, , Fabiany Herrera, , ” Herrera, Steven Manchester, Herrera, “ I’ve, Mónica Carvalho, Carvalho, , Arthur T, Susman, Gregory Stull, ” Carvalho Organizations: CNN, Field, Research, University of Michigan’s, of Paleontology, South, Field Museum, National Museum of, Central, Western Locations: Colombia, Panama, Peru, India, South America, Western, Colombian, American, South, Central America, Central, Asia, Africa
Ann Lurie, a self-described hippie who went on to become one of Chicago’s most celebrated philanthropists, in one instance giving more than $100 million to a hospital where she had once worked as a pediatric nurse, died on Monday. Her death was announced in a statement by Northwestern University, to which Ms. Lurie, a trustee, had donated more than $60 million. An only child raised in Miami by a single mother, Ms. Lurie protested the Vietnam War while in college and planned to join the Peace Corps after she graduated. In interviews, she said she chafed at the trappings of wealth even after marrying Robert H. Lurie. Mr. Lurie held stakes in the Chicago Bulls and the Chicago White Sox.
Persons: Ann Lurie, Lurie, Robert H, Mr, Sam Zell Organizations: Northwestern University, Peace Corps, Equity Group Investments, University of Michigan, The Chicago Tribune, Los Angeles Times, Chicago Cubs, Chicago Bulls, Chicago White Sox Locations: Miami, Vietnam
Atlanta CNN —Larry Malinconico went to bed worried about President Joe Biden’s debate performance. “I’m extremely concerned,” Malinconico said just after the CNN debate Thursday night. She is still planning to vote Biden, but her reaction was also quite telling. “Why not allow Kennedy on stage,” he said of independent candidate Robert F. Kennedy Jr., who failed to meet the CNN debate criteria. — Trump supporters approved of his debate performance but there was no evidence in our group that he gained support.
Persons: Larry Malinconico, Joe Biden’s, “ I’m, ” Malinconico, , Biden, , Malinconico, , Pat Levin, Levin, Kamala Harris, Gavin Newsom, Biden –, “ Biden, ” Levin, ” Michael Pesce, Trump, ” Pesce, , Pesce, I’m, Davette Baker, Donald, Matt Vrahiotes, Vrahiotes, Kennedy, Robert F, Kennedy Jr, ’ ”, Antonio Munoz, – –, Christine Ngyuen, Anushka Jalistagi, — Trump, Kim Cavaliere, ” Ibrahim Ghazal, “ Trump, ” Ghazal, ” Linda Rooney, Rooney Organizations: Atlanta CNN, CNN, Trump, California Gov, Reagan Republican, Biden, Republicans, Democratic, Wayne State University, , of Michigan, College Democrats, , Hamas, Republican Locations: Northampton County , Pennsylvania, Northampton County, California, Bucks County, Philadelphia, Northampton, African American, Milwaukee, Hall County , Georgia, America, Vegas, Atlanta, Decatur, , Detroit, Palestinian, Israel
But that gave too much power to unelected government officials, according to conservatives, who ran a coordinated, multiyear campaign to end the Chevron doctrine. The Environmental Protection AgencyEnvironmentalists fear that the end of the Chevron doctrine will mean the elimination of hundreds of E.P.A. “I would expect the industry to attack the F.D.A.’s authority to do premarket review at all,” said Desmond Jenson, deputy director of the commercial tobacco control program at the Public Health Law Center. Others noted the Chevron decision could have a chilling effect, compelling the F.D.A. “The Supreme Court has not relied on Chevron in quite a few years,” she said.
Persons: , Lisa Heinzerling, Donald J, Trump, Mandy Gunasekara, President Trump, Jonathan Berry, doesn’t, ” Rather, Berry, ” Mr, Chevron, Biden, Garden, , Desmond Jenson, Nicholas Bagley, Rachel Sachs, Louis, Abbe R, Gluck, Ms Organizations: Georgetown University, , Congress, Labor, Act, Republican, Trump, Chevron, Labor Department, Mr, Environmental Protection Agency, Biden, University of Minnesota, The National Labor Relations Board, Food, Drug Administration, Public Health Law Center, Health, Affordable Care, University of Michigan, Washington University School of Law, Department of Health, Human Services, Centers, Medicare, Services, Yale Law School, Treasury, Internal Revenue, Treasury Department, Internal Revenue Service Locations: Chevron, St
Inflation outlook improves in University of Michigan survey
  + stars: | 2024-06-28 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInflation outlook improves in University of Michigan surveyCNBC's Rick Santelli reports the latest consumer sentiment data to cross the tape.
Persons: Rick Santelli Organizations: University of Michigan
How many alarms should you set in the morning?
  + stars: | 2024-06-28 | by ( Taylor Nicioli | ) edition.cnn.com   time to read: +6 min
If you are clogging your clock app with all those morning alarms, you’re setting yourself up for a groggy morning, experts say. He recommends setting one alarm, allowing for deep sleep to continue uninterrupted until you need to wake up in the morning. Most of the time, however, someone who needs multiple alarms to wake up in the morning is sleep deprived, she said. Goldstein recommends students use summer break to find how many hours of sleep they get naturally after a few weeks. Instead, Peters recommends trying to fall back asleep until it feels as though 15 to 20 minutes have passed.
Persons: CNN —, Brandon Peters, , ” Peters, Cathy Goldstein, Goldstein, , Alicia Roth, a.m, Roth, Peters, ” Goldstein, you’re Organizations: CNN, Virginia Mason Franciscan Health, Disorders, University of Michigan Medical School Locations: Virginia, Seattle, Michigan, Ohio,
“I really gravitated towards the sugary ultraprocessed foods — it was like a physical drive, I had to have it,” he said. While many people addicted to food will say that their symptoms began to worsen significantly in adolescence, some recall a childhood focused on ultraprocessed food. The Institute of Food Technologists, an association of food professionals and technologists, does not agree with the research on ultraprocessed food addiction. “Children who eat a lot of ultraprocessed foods could well be malnourished.”According to the International Food and Beverage Alliance, however, there is no clear, objective, reliable or scientifically validated definition for “ultraprocessed” food. “Each time I would pray, ‘Please be it, please make this the answer.’ But I would ultimately start binging on ultraprocessed foods,” Odwazny said.
Persons: Jeffrey Odwazny, , , Ashley Gearhardt, Ann Arbor, Gearhardt, ” Gearhardt, David Wiss, Bryan Hitchcock, Rocco Renaldi, Odwazny, ” Odwazny, , ’ ”, Jeffrey Odwazny “, “ I’ve, ” Wiss, Sugar, Alexandra DiFeliceantonio, DiFeliceantonio, salivates, Laura Oliverio, , Kimberly Dennis, Dennis, ‘ That’s, Kimmy Organizations: CNN, Chicago, Yale, University of Michigan, National Survey, Los, The, Food Technologists, World Health, International Food and Beverage Alliance, Food and Agriculture Organization, United Nations, Virginia Tech, Center, Health, Nutrition, University of Illinois Chicago College of Medicine, Locations: United States, Ann, Los Angeles, Blacksburg, Chicago,
CNN —The confrontation in Atlanta between Joe Biden and Donald Trump Thursday night has a good chance of becoming the most fateful presidential debate in US history. The momentous nature of this debate can only be fully understood against the backdrop of the unprecedented politics of the times. But the tension surrounding this year’s first debate in June, rather than in September or October as usual, is palpable. “The closer the election, the greater the chance that a debate could influence it,” said Aaron Kall, director of debate at the University of Michigan, who has conducted an in-depth study of every presidential debate. Biden has raised the stakes for himself heading into the debate higher than those any modern president faced.
Persons: Joe Biden, Donald Trump, it’s Biden’s, he’s, Sen, John F, Kennedy, Richard Nixon, John Kerry, George W, Bush, Mitt Romney, Barack Obama, Douglas Brinkley, CNN’s Wolf Blitzer, Biden, Trump, , Al Gore’s, George H.W, , Aaron Kall, David, Ohio Sen, J.D, Florida Sen, Marco Rubio, He’s, David Biden’s, Ron Klain, ” Biden, Hunter, Bob Bauer, Dana Bash, Jake Tapper, It’s, they’ve, assail Biden, ” Trump, it’s, Terry Szuplat, ” Szuplat, CNN’s Kasie Hunt Organizations: CNN, Massachusetts Gov, University of Michigan, Biden, Ohio, White House, Trump, GOP, Truth Locations: Atlanta, America, New York, Vance, Florida, Maryland
Tyrian purple was a highly prized pigment developed in the Bronze Age, and it retained its status into the late medieval period. Several pottery fragments had residue of Tyrian purple pigment, the research team revealed. The well-preserved pigment could be used to dye textiles today, lead study author Dr. Lydia Berger said. Once collected, the snails had to be kept alive until the purple dye makers were ready to crush them and extract the mollusk’s mucus glands. The process came with a fishy odor, one that the researchers recognized when they came across the purple pigment residue in the recent excavation at Kolonna, she added.
Persons: Lydia Berger, Berger, , Maria Melo, Dye, Melo, Rena Veropoulidou, Veropoulidou, Julius Caesar, Jesus Christ, ” Veropoulidou, Organizations: CNN, Paris Lodron University of Salzburg, University of Michigan, Nova University of Lisbon, Hellenic Ministry of Culture, CPA Media Locations: Byzantine Empire, Aegina, Austria, Tyre, Lebanon, Phoenicia, Portugal, Kolonna, Greece, Rome
Americans felt shakier about the economy in June
  + stars: | 2024-06-25 | by ( Alicia Wallace | ) edition.cnn.com   time to read: +1 min
CNN —US consumer confidence teetered slightly in June as Americans grew a little more wary about the future, new data released Tuesday showed. The Conference Board’s latest consumer confidence index dipped to a reading of 100.4 in June from 101.3 in May. Readings of Americans’ confidence are typically closely watched, as consumer spending accounts for nearly 70% of US economic activity. Although the two indexes typically track similarly over time, the consumer confidence index is more influenced by employment and labor market conditions, while the Michigan sentiment index has a greater emphasis on household finances and the impact of inflation. The Michigan index’s preliminary reading for June, released earlier this month, showed sentiment levels were at a seven-month low.
Persons: Dana Peterson, Organizations: CNN, Conference Board, University of Michigan’s, Michigan Locations: Michigan
The latest research on the prevalence of aspirin use to prevent cardiovascular disease suggests that in 2021, nearly a third of adults 60 or older without cardiovascular disease were still using aspirin. Among adults 60 or older, nearly 30% reported taking aspirin to prevent cardiovascular disease, and around 5% of all adults 60 or older reported using aspirin without medical advice. Among those regularly taking aspirin, 89% reported taking a low-dose aspirin, according to the survey, while 11% indicated they take regular strength aspirin, which makes their risk of excessive bleeding even higher. The other alarming aspect is that many individuals are taking aspirin without the guidance of a healthcare provider,” Montgomery said. Regardless, any patient taking aspirin regularly should discuss that behavior with their physician, Weintraub said.
Persons: It’s, it’s, , , Mohak Gupta, who’ve, Aspirin, ” Gupta, Donald Lloyd, Jones, ” Lloyd, Lloyd, “ I’ve, Dave Montgomery, ” Montgomery, Dr, Howard Weintraub, Sanjay Gupta, Weintraub, ” Weintraub Organizations: CNN, American College of Cardiology, American Heart Association, US Preventive Services, Internal, US Centers for Disease Control, Cleveland Clinic, University of Michigan, Healthy, Northwestern University, , Piedmont Healthcare, NYU Langone Health, CNN Health Locations: United States, Atlanta, New York
Then Apple’s “By the Seaside” alarm sound went off. Moktan chose the jaunty, cheerful tune available as a ringtone and alarm on many of Apple’s devices, thinking that the song’s easygoing melody would make waking up a peaceful experience. Gyaltsen Moktan, a 26-year-old English teacher in Tokyo, says that "By the Seaside" reminds him of horror movie music. Courtesy Gyaltsen Moktan“By the Seaside” is perhaps Apple’s most polarizing alarm and ringtone, evoking comparisons to nails on a chalkboard, the word “moist” and screaming children on a plane. Boston Flake, a 15-year-old high school student in Utah, is in a love-hate relationship with the controversial alarm tune.
Persons: Gyaltsen Moktan, Moktan, , Gyaltsen, Carlos Xavier Rodriguez, Levi Hutchins, Antoine Redier, Seth Thomas, Boston, I’ll, ” Apple, Rodriguez, There’s, Rodrigo, Adele, Ryan Meadows, Krystal Roxas, Roxas, , ” Moktan, Bill Withers, Grover Washington, Jr’s “ Organizations: New, New York CNN, YouTube, University of Michigan School of Music, Theatre & Dance, Boston, Showbiz, CNN Locations: New York, Tokyo, Japan, , knocker, Britain, United States, Concord , New Hampshire, French, Utah, San Bruno , California
America’s housing crisis continues to worsen
  + stars: | 2024-06-23 | by ( Bryan Mena | ) edition.cnn.com   time to read: +6 min
Washington CNN —Homeowners in America aren’t the only ones struggling with an unaffordable housing market. A report from Harvard University’s Joint Center for Housing Studies released last week showed that both homeowners and renters in recent years have become increasingly burdened by climbing housing costs. That’s all part of a broader struggle in the US housing market, and recent data shows that it hasn’t gotten any better. But there’s a problem: ChatGPT — soon to be integrated into Siri — is banned in China, reports my colleague Samantha Murphy Kelly. The Chicago Fed releases its National Activity Index for May.
Persons: ” Lael Brainard, , , Brainard, Biden, ” Brainard, ChatGPT —, Siri —, Samantha Murphy Kelly, OpenAI, Siri, ChatGPT, Read, Christopher Waller, Lisa Cook, Michelle Bowman, General Mills, Levi Strauss, Tom Barkin Organizations: CNN Business, Bell, Washington CNN — Homeowners, America aren’t, Harvard University’s, for Housing Studies, Harvard, , White, Economic Council, Urban Institute, Administration, Apple, Apple Intelligence, Microsoft, Google, Meta, Samsung, Cyberspace Administration, FedEx, Chicago Fed, Global, Index, Board, Micron, General, US Commerce Department, Federal Reserve, Nike, McCormick, Walgreens, US Labor Department, National Association of Realtors, Richmond Fed, University of Michigan Locations: Washington, America, Congress, China
Americans could be on a tight budget this summer
  + stars: | 2024-06-20 | by ( Krystal Hur | ) edition.cnn.com   time to read: +6 min
New York CNN —Americans tend to shell out in the summer as they venture outdoors, book trips and step away from their desks. Consumers plan to spend less on away-from-home entertainment and vacations this summer, according to the 2024 KPMG Consumer Pulse Survey released Tuesday. That’s a contrast to last year when Americans shelled out on the “Barbenheimer” phenomenon, Taylor Swift and Beyoncé concert tickets and getaways. Retailers that offer Americans more bang for their buck including Ross Stores, TJ Maxx and HomeGoods-parent TJX, Dollar General and Walmart have benefitted. Americans are also feeling worse about the economy as they struggle with elevated inflation and high borrowing rates.
Persons: Taylor Swift, It’s, , Duleep Rodrigo, TJ Maxx, Mark Thompson, Henley, ” Hannah White, , OpenAI’s Organizations: CNN Business, Bell, New York CNN, Pulse Survey, Commerce Department, Federal Reserve, Retailers, Ross Stores, Walmart, Abercrombie, Fitch, Williams, University, Michigan’s, Millionaires, Labour, Henley & Partners, Institute for Government, City of, Henley Private Wealth, Nvidia, Microsoft, Apple Locations: New York, Sonoma, Britain, United Kingdom, City of London
The biggest divide in our politics isn’t between Democrats and Republicans, or even left and right. It’s between people who follow politics closely, and those who pay almost no attention to it. If you’re in the former camp — and if you’re reading this, you probably are — the latter camp can seem inscrutable. As the 2024 election takes shape, this bloc appears crucial to determining who wins the presidency. An NBC News poll from April found that 15 percent of voters don’t follow political news, and Donald Trump was winning them by 26 points.
Persons: Donald Trump, , Ezra Klein, She’s, John Barry Ryan, , I’ve, Biden Organizations: Republicans, NBC, Apple, Spotify, Amazon Music, YouTube, University of Michigan, Trump Locations: America
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