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☆ The dollar’s decline is yet another positive for the broad market — including AI stocks
▼ + stars: | 2023-07-22 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

A weaker dollar will continue to support a broad stock market rally that has already seen an extraordinary run-up this year. Since topping out in late last September, the ICE U.S. Dollar Index has fallen about 13%. A weaker dollar "starts to set into motion a few different dynamics," said Yung-Yu Ma, chief investment officer at BMO Wealth Management. .DXY 1Y mountain ICE U.S. Dollar Index over past year A weaker dollar typically lifts large-cap stocks that are more likely to have an international footprint. What's more, emerging market companies more easily pay back dollar-denominated debt when the greenback is weaker.

Persons: it's, Yung, Yu Ma, Shannon Saccocia, Riley Financial's Art Hogan, Hogan, Neuberger Berman's Saccocia, Saccocia, We've Organizations: ICE, BMO Wealth Management, Federal Reserve, Bank of Canada, Bank of England, European Central Bank, Vanguard FTSE Emerging

☆ Wall Street rides high into next week as traders brace for a major Fed decision and key earnings
▼ + stars: | 2023-07-21 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

The recent streak of gains in markets could be in jeopardy next week as traders come up against a big Federal Reserve meeting and earnings shift into high gear. However, markets are ramping up just ahead of several catalysts next week that could roil markets. According to the CME FedWatch Tool, 83% of traders expect monetary policymakers will be done at that point. 'Floodgate' of earnings season including tech The biggest week for earnings season is also up ahead, with results having been mixed thus far. Personal Consumption Expenditure index (June) 10 a.m.: Consumer sentiment (July final) Earnings: Exxon Mobil , Chevron , Procter & Gamble , T. Rowe Price

Persons: Jerome Powell, Hogan, Powell, Shannon Saccocia, Jackson, Yung, Yu Ma, that's, Saccocia, Northrop Grumman, Rowe Price Organizations: Reserve, Dow Jones, Riley Wealth Management, BMO Wealth Management, Big Tech, Microsoft, Chicago, P Global, PMI, GE, GE HealthCare, GM, Boeing, Hess, ADP, CME Group, eBay, Honeywell, Hershey, McDonald's, Mastercard, Northrop, Royal, Enphase Energy, Mobile, Ford Motor, Intel, Mondelez, Exxon Mobil, Chevron, Procter, Gamble Locations: Royal Caribbean

☆ How a Record-Setting Giant Fish Could Help Save Its Home River
▼ + stars: | 2023-07-21 | by ( Rachel Nuwer | ) www.nytimes.com time to read: +1 min

Researchers may have solved a big mystery surrounding a very big fish. Around the world, freshwater fish are in trouble. The fish, a female, weighed 661 pounds, or about 300 kilograms, and set a record for the heaviest freshwater fish ever caught. The discovery was surprising because the species, known as the giant freshwater stingray, like many of the other big fish of the Mekong, is listed as endangered. “It’s a shock and also opens the door to so many questions.”Nearly a third of freshwater fish worldwide are threatened with extinction.

Persons: Moby Dick, ”, Zeb Hogan, “ Organizations: University of Nevada Locations: Reno

The tech-heavy Nasdaq (.IXIC) lagged Wall Street peers in the previous session as earnings reports from Tesla (TSLA.O) and Netflix (NFLX.O) failed to dazzle. The NYSE FANG+TM index (.NYFANG), that houses the megacap growth names, rose 0.5 on Friday, after falling 4.6% in the previous session and posting its worst day in 2023. American Express (AXP.N) fell 5.0% after the credit card giant missed quarterly revenue expectations and kept its forecast for full-year profit unchanged, which unnerved investors. SLB (SLB.N) shed 2.3% as the top oilfield services firm missed quarterly revenue expectations due to moderating drilling activity in North America. The S&P index recorded 26 new 52-week highs and no new lows, while the Nasdaq recorded 51 new highs and 22 new lows.

Persons: AmEx, Dow, Johnson, Hogan, Bansari Mayur Kamdar, Johann M, Shinjini Organizations: Dow, Nasdaq, Johnson, Riley, Tesla, Netflix, NYSE, Dow Jones, American Express, Investors, Thomson Locations: North America, Bengaluru

The government said it was imposing the ban after retail rice prices climbed 3% in a month as late monsoon rains damaged crops. While a late monsoon caused a major shortfall of rain up to mid-June, heavy rains since have caused significant damage. India accounts for more than 40% of world rice exports but low inventories mean any cut in shipments will fuel food prices driven up by Russia's invasion of Ukraine last year and erratic weather. His administration has extended a ban on wheat exports after curbing rice shipments in September 2022. "India would disrupt the global rice market with far greater velocity than Ukraine did in the wheat market with Russia's invasion," B.V. Krishna Rao, president of the Rice Exporters Association told Reuters.

Persons: Rice, Narendra Modi, Krishna Rao, Rao, El, Michael Hogan, Jan Harvey, David Evans, Conor Humphries Organizations: Rice, Association, Reuters, El, Farmers, El Nino, Thomson Locations: India, Ukraine, DELHI, Asia, Thailand, Vietnam, New Delhi, Punjab, Haryana, Rice, West Bengal, Bihar, Chhattisgarh, Andhra Pradesh, Telangana, China, Philippines, Hamburg

☆ How Serious is No Labels? - The New York Times
▼ + stars: | 2023-07-20 | by ( Katherine Miller | ) www.nytimes.com time to read: +3 min

No Labels is this last refuge, a resting place inside and outside the two parties and a half-finished Washington dreamscape. This fact is the firm but vibrating floor beneath the No Labels project and the panic it has produced — the recognition that we’re approaching a 2024 election that will make American voters unhappy. Unhappy enough to vote for a mystery unity ticket, only on the principle of their unhappiness? I don’t know that the electoral effects of No Labels are as clear as people say. And No Labels is here to take advantage of that sadness with a half-finished idea.

Persons: Brad Schneider of, “, Brad Schneider, ”, Huntsman, I’ve, They’re, That’s, ’, ‘ I’ve, there’s, Manchin, Larry Hogan, Biden Organizations: U.S . Rep, Washington dreamscape, Republican, Republican Party, Biden, Trump, Mr Locations: Brad Schneider of Illinois, China, Russia, New Hampshire, Atlanta, Colorado, Maryland, America

☆ Third-party No Labels will not be a 'spoiler' in 2024 election, chair says
▼ + stars: | 2023-07-16 | by ( David Morgan | ) www.reuters.com time to read: +3 min

Lieberman, a former U.S. senator and unsuccessful vice presidential candidate, said No Labels hopes to offer a legitimate "third choice" candidate. "We're not in this to be spoilers," Lieberman told ABC's "This Week" program. Former Democratic Senator Doug Jones said a third-party No Labels candidate could not secure the 270 Electoral College votes needed to win. But he said a No Labels candidate could help Trump regain the White House he lost to Biden in 2020. Republican presidential candidate Chris Christie rejected the group's approach outright on Sunday.

Persons: Joe Lieberman, Lieberman, We're, ABC's, we're, John Hope Bryant, Benjamin Chavis Jr, Larry Hogan, Pat McCrory, Joe Manchin, Joe Biden, Donald Trump, Ross Perot, Bill Clinton, Ralph Nader, George W, Bush, Doug Jones, Trump, Jones, Chris Christie, Al Gore's, David Morgan, Howard Goller Organizations: Democratic, Republican, North Carolina, Democrats, Former Democratic, Electoral, Biden, ABC, U.S . Capitol, New, Senate, Thomson Locations: U.S, New Hampshire, New Jersey

☆ Paid canvassers for DeSantis are showing up 'a little stoned' in neighborhoods, knocking on doors, and ignoring 'no solicitation' signs, WaPo reports
▼ + stars: | 2023-07-15 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +2 min

The Washington Post reported that paid canvassers are supporting Ron DeSantis' presidential campaign. In one conflict, captured via Ring camera, a door knocker told a voter he was "a little stoned" as he worked. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. In another incident, a paid DeSantis canvasser didn't even look up from his phone to speak with a homeowner whose door he had knocked on. DeSantis' presidential campaign representatives declined to comment on the canvassers' behavior.

Persons: Ron DeSantis, canvassers, DeSantis, combatively, South Carolina indignantly, canvasser, Mike Hogan, Donald Trump, Steve Cortes Organizations: Washington Post, Service, Post, PAC, GOP, Politico Locations: Wall, Silicon, Florida, South Carolina

Alphabet shares were outperforming the broader market, with the S&P 500 (.SPX) up 0.6%, boosted by data showing signs of cooling inflation. Clearly they've been able to reassure European regulators about those issues, which just paves the way for further advantage really," said Hewson. Alphabet shares, which have seen a huge boost from investor excitement around generative artificial intelligence since February, are up around 41% so far this year. Microsoft shares are up 42% so far in 2023. Also on Thursday, TD Cowen raised its price target for Alphabet shares to $140 from $130 citing expectations of better growth in its search business.

Persons: Bard, watchdogs, Danni Hewson, AJ Bell, they've, Hewson, Art Hogan, Riley, TD Cowen, Bansari Mayur, Sinéad Carew, Conor Humphries Organizations: Inc, European Union, Google, Microsoft Corp, Microsoft, Thomson Locations: Europe, Brazil, Bengaluru, New York

☆ Paddleball Paul’s Lonely War on Pickleball
▼ + stars: | 2023-07-13 | by ( Allie Conti | Lanna Apisukh | ) www.nytimes.com time to read: +1 min

4, right in the middle of the pickleball hive, there was a man by himself who seemed to be in some distress. But really, he was a man who needed to use the bathroom. He was about to serve against a wall to himself when a young blond woman approached. He would have loved an opponent, sure, but what he really needed was somebody to hold the court while he ran to the men’s room. He knew that the moment he stepped away, some pickleballer would set up a net in his space.

Persons: Hulk Hogan Locations: Central Park

☆ Tod's creative director Walter Chiapponi to step down
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of Tod's is seen in a shop in downtown Rome, Italy February 10, 2016. REUTERS/Tony Gentile/File PhotoMILAN, July 12 (Reuters) - Italian luxury fashion group Tod's (TOD.MI) said on Wednesday that creative director Walter Chiapponi was leaving the company "by mutual agreement" after four years. Chiapponi will present his last Tod's Spring Summer 2024 women's collection in September at the Milan Fashion Week, the group said in a statement. Tod's did not name a replacement but said that a "new creative direction" would be announced in the coming months. The designer's departure was first reported by Women's Wear Daily (WWD) on Wednesday, citing unnamed sources.

Persons: Tony Gentile, MILAN, Walter Chiapponi, Chiapponi, Tod's, Women's, Walter, Diego Della Valle, Fay, Hogan, Roger Vivier, Elisa Anzolin, Keith Weir Organizations: REUTERS, Milan, Tod's, Thomson Locations: Rome, Italy

SummaryCompanies JPMorgan gains on Jefferies' upgrade ahead of earningsMegacaps recover after dip ahead of Nasdaq 100 rebalanceFutures up: Dow 0.02%, S&P 0.11%, Nasdaq 0.16%July 11 (Reuters) - U.S. stock index futures inched higher on Tuesday ahead of key inflation data that could support a sooner-than-expected end to the Federal Reserve's rapid interest-rate hikes. "The big-cap Nasdaq index is going to adjust weightings vs. a full addition or deletion. Also, far more money tracks the S&P 500, which is why S&P 500 component changes get a lot more attention than Nasdaq 100 moves." The S&P 500 banks index (.SPXBK) has shed 9% so far this year in the aftermath of the biggest crisis since 2008 that pummeled regional lenders. The sub-index is underperforming the benchmark S&P 500 index (.SPX), which has notched a 14.9% gain.

Persons: Joshua Warner, Hogan, Jefferies, Johann M Cherian, Shinjini Ganguli, Arun Koyyur Organizations: JPMorgan, Jefferies, Nasdaq, Dow, Federal, Fed, Index, Treasury, Nasdaq Inc, Riley, Dow e, JPMorgan Chase, Zions Bancorp, Truist, Thomson Locations: U.S, Bengaluru

That compares with a 14.8% gain for the benchmark S&P 500 (.SPX). Microsoft (MSFT.O), Apple (AAPL.O), Nvidia (NVDA.O), Amazon.com (AMZN.O) and Tesla (TSLA.O) combined account for 43.8% weight in the index, according to Refinitiv data as of Monday's close. The special rebalancing may be conducted at any time if the aggregate weight of companies, each having more than 4.5% weight in the index, tops 48%, according to Nasdaq. COULD THE S&P 500 FOLLOW SUIT? Apple and Microsoft are the only two firms with weight over 4.5% in the S&P 500.

Persons: Hogan, Cameron Lilja, Dow, Wells, Sam Stovall, Sruthi Shankar, Medha Singh, Bansari, David Randall, Shounak Dasgupta Organizations: Nasdaq, Microsoft, Apple, Nvidia, Riley, U.S . Securities, Exchange, Dow Jones, Tesla, Booking Holdings, Gilead Sciences, Devices, CFRA, Thomson Locations: Wells, Gilead, Bengaluru, New York

☆ Britain to ease EU rule on charging asset managers for stock picks
▼ + stars: | 2023-07-10 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

The five-year old "unbundling" rule is part of an EU securities law known as MiFID II that Britain kept after Brexit. A report headed by Hogan Lovells lawyer Rachel Kent recommends giving the "optionality" to rebundle, given it is allowed on Wall Street, and the EU is also reviewing the rule. The report recommends creating a new research platform to promote, source and distribute research on smaller companies looking to list. "The recommendations in Rachel Kent’s Independent Research Report will be accepted by the Government... It also sets the path for potentially removing the unbundling rules," the finance ministry said in a statement.

Persons: Hogan Lovells, Rachel Kent, Kent, Rachel, Huw Jones, Sharon Singleton Organizations: Union, Britain, Government, Financial, Authority, FCA, Thomson Locations: Britain, London, EU

☆ UK set to ease stock market listing rules
▼ + stars: | 2023-07-07 | by ( ) www.reuters.com time to read: +2 min

Hunt will also seek to roll back a European Union-era securities law, Treasury said. UK is set to approve recommendations in Rachel Kent's Independent Research Report, paving the way for a new "Research Platform" to provide a one-stop-shop for firms looking for research experts, the statement added. UK had last year announced the launch of the Investment Research Review - an independent review of financial services investment research and its contribution to UK capital markets competitiveness, headed by Kent. The approval also sets the way for potentially removing unbundling rules – an inherited EU law that requires brokers to charge a separate fee for research. "We will not countenance tax cuts if they make the battle against inflation harder," the newspaper quoted Hunt as saying.

Persons: Jeremy Hunt, UK's, Hunt, Rachel, Hogan Lovells, Rishi Sunak's, Nilutpal, Chris Reese, David Gregorio, Shri Organizations: Finance, UK's Treasury, Treasury, Investment Research, Financial Times, Aviva Plc, Phoenix Group Holdings, City of London Corporation, FT, Thomson Locations: Union, Kent, Bengaluru

☆ June inflation data will be closely watched by investors in the week ahead
▼ + stars: | 2023-07-07 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

Investors are turning their attention to inflation data in the week ahead, following this week's hot jobs data, to further clarify the path of future monetary policy. Market participants are hoping next week's release of the June consumer price index on Wednesday, as well as last month's producer price index on Thursday, will show a downward trajectory in inflation after this week's strong ADP data spurred investor fears of further rate hikes ahead. Broadly speaking, investors are pricing in another quarter point rate hike at the July meeting. Of note, stocks tumbled Thursday after hotter-than-expected ADP data suggested the Federal Reserve has further to go in its tightening campaign. FactSet data shows analysts expect S & P 500 earnings fell 7% in the second quarter against the same quarter a year ago.

Persons: James Ragan, Davidson, Hogan, Rhys Williams, Williams, you've, Davidson's Ragan, Citigroup startegists, Wells, UnitedHealth, Michael Barr Organizations: Traders, Federal Reserve, Riley, Dow Jones Industrial, Treasury, Asset Management, JPMorgan, Citigroup, JPMorgan Chase, BlackRock, Dow, PepsiCo, Delta Air, Conagra, Delta Air Lines, Fastenal Locations: Wells Fargo, Cintas, UnitedHealth

☆ Hogan Lovells partner explains why predictability is so important for dealmakers
▼ + stars: | 2023-07-03 | 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 EmailHogan Lovells partner explains why predictability is so important for dealmakersWilliam Curtin, partner at Hogan Lovells, discusses the outlook for mergers and acquisitions in the current market.

Persons: Hogan, William Curtin, Hogan Lovells

Tesla (TSLA.O) gained 7.4% to hit a nine-month high, a day after its car deliveries topped market estimates on the back of incentives and steeper discounts. The consumer discretionary sector (.SPLRCD) that includes Tesla rose 1.5%, leading gains among the top 11 S&P 500 sectors, while healthcare stocks (.SPXHC) declined. Fidelity National Information Services (FIS.N) added 5.4% as buyout groups weighed bids for a majority stake in Worldpay, co-owned by the financial services firm, according to a Financial Times report. Advancing issues outnumbered decliners by a 2.02-to-1 ratio on the NYSE and a 1.53-to-1 ratio on the Nasdaq. The S&P index recorded 12 new 52-week highs and no new low, while the Nasdaq recorded 42 new highs and 33 new lows.

Persons: Hogan, Investors, Li Auto, Bansari Mayur Kamdar, Johann M, Pooja Desai, Vinay Dwivedi Organizations: Dow, Nasdaq, Riley, General Motors, Ford, EV, Rivian Automotive, Traders, Apple, Microsoft, Dow Jones, Fidelity National Information Services, Financial, NYSE, Thomson Locations: Worldpay, Bengaluru

June 30 (Reuters) - Apple Inc's (AAPL.O) stock market value ended a trading session above $3 trillion for the first time on Friday, lifted by signs of improving inflation and bets that the iPhone maker will successfully expand into new markets. Shares of the world's most valuable company jumped 2.3% to $193.97, giving it a market capitalization of $3.05 trillion, Refinitiv data showed. Reuters Graphics Reuters GraphicsThe Cupertino, California company's market capitalization briefly peaked above $3 trillion in intraday trading on Jan. 3, 2022 before closing the session just below that mark. Apple's $3 trillion milestone follows the June 5 launch of a pricey augmented-reality headset, its riskiest bet since the introduction of the iPhone more than a decade ago. Four other U.S. companies have valuations of more than $1 trillion - Alphabet Inc (GOOGL.O), Amazon.com Inc (AMZN.O), Nvidia and Microsoft Corp (MSFT.O), which follows Apple with a market value of $2.5 trillion.

Persons: Hogan, Riley, Tiyashi Datta, Noel Randewich, Anil D'Silva, Richard Chang Organizations: Apple, Reuters Graphics Reuters, Nvidia Corp, Tesla Inc, Commerce Department, Amazon.com Inc, Nvidia, Microsoft Corp, Tesla, Inc, Thomson Locations: Cupertino , California, Apple's, Bengaluru, Oakland, Calif

☆ MLB roundup: Astros demolish Cardinals 14-0
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +8 min

Tucker hit a two-run single and a three-run homer as the Astros won their second straight game to claim the three-game series. Houston starting pitcher J.P. France (3-3) blanked the Cardinals on four hits over seven innings. In the big third inning, Eloy Jimenez hit a two-run single, Yasmani Grandal and Clint Frazier each chipped in with RBI singles, and Remillard capped the scoring with a two-run single. Shohei Ohtani hit a two-run homer in the ninth inning for the Angels, his major-league-leading 29th long ball of the season. Jurickson Profar had three hits for Colorado, and Elias Diaz knocked in all three runs with a sacrifice fly and a two-run single.

Persons: Mauricio Dubon, Kyle Tucker, Gary A, Vasquez, Alex Bregman, Tucker, Jose Abreu, Jose Altuve, J.P, Adam Wainwright, Taijuan Walker, Bryce Harper, Kyle Schwarber, Walker, Zach Remillard, Tim Anderson, Eloy Jimenez, Yasmani Grandal, Clint Frazier, Remillard, Shohei Ohtani, Los Angeles, Mickey Moniak, Mike Moustakas, Hunter Renfroe, Victor Caratini, William Contreras, Adrian Houser, Brett Baty, Brandon Nimmo, Houser, Devin Williams, Tommy Pham, Spencer Torkelson, Reese Olson, Olson, Josh Smith, Ezequiel Duran, Leody Taveras, Martinez, Jason Heyward, Freddie Freeman, Max Muncy, Emmet Sheehan, Jurickson Profar, Elias Diaz, Josh Donaldson's, Clarke Schmidt, Isiah Kiner, Falefa, Domingo German's, Schmidt, Hogan Harris, Seth Brown, Brayan Bello, Bello's, Jon Berti's, Jazz Chisholm, Jesus Luzardo, Andrew Nardi, Puk, Bello, Vladimir Guerrero Jr, Chris Bassitt, Guerrero, Jordan Romano, Francisco's Patrick Bailey, Keaton Winn, Freddy Fermin, Jose Ramirez, Aroldis Chapman, Ramirez, Salvador Perez, Nicky Lopez, Emmanuel Clase, Drew Waters, Henry Davis, Jack Suwinski, Luis Ortiz, Dauri Moreta, David Bednar, Trent Grisham, Seong Kim, Joe Musgrove, Tim Hill, Wander Franco, Luke Raley, Raley, Harold Ramirez, Brandon Pfaadt, Corbin Carroll Organizations: Houston Astros, Los Angeles Dodgers, Dodger, Louis Cardinals, Astros, Houston, Cardinals, Phillies, Cubs, Philadelphia, White Sox, Angels, Chicago, Brewers, Mets, Milwaukee, Tigers, Rangers, Detroit, Texas, Dodgers, Rockies, Los Angeles, Colorado, Yankees, Athletics, Oakland, Marlins, Red Sox, Boston, Miami, Blue Jays, Giants, Toronto, San, Royals, Cleveland, Kansas City, Pirates, Padres, Pittsburgh, Rays, Diamondbacks, Arizona, Tampa Bay, The Rays, National League, Thomson Locations: Los Angeles , California, USA, France, Philadelphia, Anaheim , Calif, Los, Milwaukee, New York, Arlington , Texas, Torkelson, Angeles blitzed Colorado, Denver, York, San Francisco, Kansas, San Diego, Tampa, Phoenix, Arizona

☆ Low water again hampers Rhine river shipping in Germany
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +1 min

HAMBURG, June 28 (Reuters) - Low water levels after recent dry weather are again preventing cargo vessels from sailing fully loaded on the Rhine river in Germany with surcharges added to the usual freight prices, commodity traders said on Wednesday. Low water is hampering shipping on most of the river south of Duisburg and Cologne, including the chokepoint of Kaub, traders said. Dry weather in early June meant the river became too shallow, hindering shipping before rain raised water levels. But rain forecast in river catchment areas in Germany from Thursday into the weekend could help raise water levels, traders said. German companies faced supply bottlenecks and production problems in summer 2022 after a drought and heatwave led to unusually low water levels on the Rhine.

Persons: surcharges, Michael Hogan, Jason Neely Organizations: Thomson Locations: HAMBURG, Germany, Duisburg, Cologne

☆ Here's why the market is ignoring a tell-tale sign that a recession is coming
▼ + stars: | 2023-06-26 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

For just shy of a year now, the bond market has been signaling that a recession is on the horizon. And for the better part of the past six months, the stock market has been ignoring it. "The market's certainly not acting like it would if this 'Waiting for Godot' recession was right around the corner. "I would say it's much more about what started this conundrum, the combination of pandemic policy, pandemic reopening and hyperaggressive monetary policy. A key narrative from those looking for recession is the lag effects that Fed policy will have.

Persons: Godot, Hogan, Nicholas Colas, Colas, There's, Jeremy Siegel, Siegel Organizations: Riley Wealth Management, Federal Reserve, Treasury, New York Fed, DataTrek Research, Wharton Business Locations: It's, U.S

☆ 10 Things in Tech: Titan sub debris, tough questions at Microsoft, and kei trucks
▼ + stars: | 2023-06-23 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +4 min

Scott Guthrie, Microsoft's executive VP of cloud and AI, oversees Azure and Microsoft 365 cloud software. Microsoft's cloud boss faces tough questions about pay and low morale, leaked messages show. Microsoft employees blasted the company's decision to pause pay raises and cut bonuses and stock awards ahead of a cloud meeting. Son told the company's annual shareholder meeting he believed his firm will be a winner in the AI race thanks to its investments. The tiny Japanese trucks are about 11 feet long and are typically limited to 25 miles an hour.

Persons: Nathan Rennolds, let's, Scott Guthrie, Stephen Lam, he'd, Satya Nadella, Kathleen Hogan, Dimitrios Kambouris, Twitter hasn't, Larry Ellison, Elon Musk's, David Tinson, Masayoshi Son, Son, Ziwei Li, Deb Liu, Elon, Mark Zuckerberg, Zuckerberg, Musk, it's, Read, Jack Sommers Organizations: US Navy, Microsoft, Twitter, Oracle, FIFA, Lyft, Getty, Meta Locations: London, Lyft, Japan

☆ Market momentum wanes heading into the final week of June after monster rally in the first half
▼ + stars: | 2023-06-23 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

Against this backdrop, investors will head into the final week of June with a relatively light economic calendar. However, those few data sets could provide investors with clues on how the market will fare going into the second half. Key inflation data ahead Of note next week is the core personal consumption expenditures index, the Fed's preferred inflation gauge. Reports to watch out for include Tuesday's new home sales and Thursday's pending home sales data, both for May. Elsewhere, BTIG's Jonathan Krinsky warned this week the downside for tech names could be as "equally impressive" as their rally.

Persons: Jerome Powell, annualized, Dow Jones, Terry Sandven, Sandven, that's, Megan Horneman, Stephen Suttmeier, BTIG's Jonathan Krinsky, Art Hogan, Hogan, Mills, Paychex Organizations: Dow Jones, Nasdaq, Federal, Bank of England, Global Wealth Management, Americas, UBS, U.S, Bank Wealth Management, Verdence Capital Advisors, Bank of America, Dow, Riley Wealth Management, Fed, Walgreens, Micron, Nike, Constellation Brands

☆ Senator Rick Scott Has Been Weighing a Presidential Run
▼ + stars: | 2023-06-22 | by ( Jonathan Swan | Maggie Haberman | ) www.nytimes.com time to read: +1 min

Should he enter the race, Mr. Scott, Florida’s former governor, would be challenging both the front-runner, Mr. Trump, as well as the distant-second rival, Ron DeSantis, the state’s current governor. Mr. Scott would also join Mr. Trump, Mr. DeSantis and Mayor Francis X. Suarez of Miami as the fourth Republican presidential candidate from Florida. Mr. DeSantis in particular could see his support erode further if Mr. Scott adds to an already crowded field of Trump alternatives. Like other recent entries, Mr. Scott appears to be assessing a G.O.P. field in which Mr. DeSantis, with whom Mr. Scott has had a difficult relationship, has lost some support after a series of missteps and unforced errors.

Persons: Rick Scott of, Donald J, Trump, Scott, Ron DeSantis, DeSantis, Francis X, Suarez, Mr, Larry Hogan, ” Organizations: Republican, Florida Republican, Suarez of Miami, CBS Locations: Rick Scott of Florida, Florida, Maryland

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