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CNN —Narendra Modi has raised India’s stature on the global stage like no other recent leader of the world’s most populous country. But the election results also place Modi in a radically different position from the one he enjoyed during his first decade in power. Now, Modi’s BJP will need to answer the interests of its coalition allies – and face stronger checks from a resurgent opposition, which could dampen its Hindu-nationalist agenda. In the meantime, some observers suggest that while the election results may not have boosted Modi, they are already a boon for India’s global clout. “India coming back as a proper democracy is good for the world order in many senses,” he added.
Persons: CNN — Narendra Modi, , Modi, , T.V, Paul, , Nehru, ” Modi, Joe Biden, Pete Marovich, that’s, Washington, Farwa Aamer, assertiveness –, Justin Trudeau, Nasir Kachroo, Pakistan –, Sushant Singh, Fahd Humayun, India’s Organizations: CNN, Bharatiya Janata Party, BJP, Reuters, Japan, South Asia, Asia Society Policy, Modi . Canadian, Canadian, Yale University, Indian, Tufts University, , McGill University Locations: India, Delhi, United States, China, Pakistan, Australia, New York, New Delhi, Washington, Russia, Canada, Indian, American, Jammu, Kashmir, Modi’s BJP, BJP, Islamabad
Emerging markets investors have had a bumpy week after surprising election results seem to have caught at least some traders off guard. Between now and Nov. 5 are almost all negative potential risks in Mexico," Joshi added. Elsewhere in the world There are other lingering political issues that could affect emerging market investing. And for investors in broad emerging markets funds, even positive developments in some of these countries can be overshadowed by what happens in China. "It's a very large weight so it's going to drive the emerging market index quite a bit.
Persons: Narendra Modi, Modi, Aastha Gudwani, Angus Shillington, Shillington, Adam Turnquist, We've, Turnquist, Claudia Sheinbaum, Andres Manual Lopez, Morgan Stanley's Nikolaj Lippmann, Arif Joshi, Joshi, Sheinbaum, Lopez, Claudia, Polina Kurdyavko, Javier Milei, Alejandra Grindal, Ned Davis, Grindal, — CNBC's Michael Bloom Organizations: Indian, Bank of America India, CNBC, LPL, Lazard Asset, RBC Global Asset Management, Ned, Ned Davis Research, Federal Reserve Locations: India, Mexico, South Asia, VanEck, U.S, Morena, South Africa, Argentina, China
CNN —In what is thought to be the first encounter of its kind to be witnessed by scientists, a tiger shark has been spotted vomiting up a dead echidna whole off the coast of an Australian island. He said it is “rare” that tiger sharks throw up their food, although they can when stressed. A different shark that the team caught and tagged also made a “surprising” regurgitation, throwing up half a dugong, according to the release. Tiger sharks have gluttonous appetites, a habit of scavenging and are reputed for man-eating. Tiger sharks are found in warm oceans worldwide.
Persons: , Nicolas Lubitz, , , “ I’ve, Lubitz Organizations: CNN, James Cook University, Foundation Locations: Australia, North Queensland, Windward Oahu, Hawaii
Indian Prime Minister Narendra Modi gestures, at the Bharatiya Janata Party (BJP) headquarters in New Delhi, India, June 4, 2024. Adnan Abidi | ReutersThis report is from this week's CNBC's "Inside India" newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big businesses behind its meteoric rise. Far from rewarding Prime Minister Narendra Modi's party with a supermajority — as polls had predicted — Indians elected 240 BJP lawmakers to India's 543-seat Parliament, which falls short of a simple majority for Modi's party. However, as the largest party, the BJP will form a coalition government thanks to its alliance with smaller parties ahead of the elections. This "radical transformation" is expected to lead to a significantly more efficient economy and help India's currency, according to Sullivan.
Persons: Narendra Modi, Adnan Abidi, Narendra Modi's, Modi, Gavekal, Tom Miller, Udith Sikand, Malcolm Dorson, Aastha Gudwani, who's, India's, Morgan, Ridham Desai, Will, Goldman Sachs, Abhiram Eleswarapu, Eleswarapu, Tanvir Gill, Sri Jegarajah, Sumathi Bala, Seema Mody, Amala Balakrishner, Vinay Dube, could've, James Sullivan, Sullivan Organizations: Indian, Bharatiya Janata Party, BJP, Reuters, CNBC, Global, of America, Gavekal Research, India Active, BNP, CNBC Pro, JPMorgan, U.S . Federal Locations: New Delhi, India, CNBC's
Super Heavy landed in the Gulf of Mexico minutes after lift-off. A screengrab from SpaceX's livestream of the June 6, 2024 launch shows Starship sitting atop its Super Heavy booster on the launchpad. One of the engines on SpaceX's Super Heavy booster was not lit during its fourth launch. SpaceX reaches a major new milestone by landing its Super Heavy booster in the Gulf of Mexico. SpaceXOn its next flight, SpaceX might attempt to catch the Super Heavy booster with giant "chopsticks" on its Texas launch tower.
Persons: , Elon Musk's, Musk, Starship Organizations: Service, Super, Business, SpaceX, Starship, Starship's, of, NASA Locations: Gulf, Mexico, SpaceX's, Texas, Gulf of Mexico, Boca Chica , Texas
However, the spacecraft was visibly falling apart on SpaceX's livestream as it screamed through Earth's atmosphere. Falling back to Earth is extremely intenseA screengrab from SpaceX's livestream shows the fin at the beginning of Starship's fall, before it shredded. A screengrab from SpaceX's livestream of the June 6, 2024 launch shows Starship sitting atop its Super Heavy booster on the launchpad. The Super Heavy booster also practiced and successfully achieved its first soft water landing, after it separated from Starship on Thursday. SpaceX reaches a major new milestone with landing its Super Heavy booster in the Gulf of Mexico.
Persons: , Elon Musk's, SpaceX's livestream, livestream, Musk Organizations: Service, Business, SpaceX Viewers, SpaceX, Starship, Super Locations: Elon, SpaceX's, Gulf of Mexico, Mars
“We saw that with the mRNA (messenger RNA) vaccines that it can be a good messenger,” says Cech. The Catalyst by Thomas R. Cech W W NortonYou mentioned in “The Catalyst” that research on RNA has been around since the ‘50s. What is something that most people get wrong about mRNA vaccines, such as the Covid-19 ones? Thomas R. Cech in a lab in 1984, five years before he won the Nobel Prize in Chemistry. How does this apply to DNA, RNA, mRNA and CRISPR?
Persons: you’re, , Thomas R, Cech, ” Cech, Sidney Altman, he’s, Norton, It’s, Thomas R . Cech, Organizations: CNN, Pfizer, DNA, University of Colorado, Denver Post, Rotary Clubs, Lions Locations: Moderna, University of Colorado , Boulder, Boulder , Colorado, China, Cambridge , Massachusetts, United States, Germany
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The growth is in part thanks to a shift in supply chains and investment flows as companies try to stop relying solely on China. India's stock markets tanked on the shock election results, with the benchmark Sensex index crashing over 5% in one day on Tuesday following the news. Despite the knee-jerk reaction, most analysts are optimistic about India's economic outlook given that Modi is still in charge. He said India will do better to capitalize on its services industry, especially since so many Indians are English speakers.
Persons: , Narendra Modi's, Modi, Atman Trivedi, China, Council's Trivedi, Vishnu Varathan, Raghuram Rajan, NPR's, It's, Rajan Organizations: Service, Indian, Business, Bharatiya Janata Party, , Atlantic, Asia Center, Centre, Monitoring, Coalition, Albright, Group, Mizuho Bank, United Nations Population Fund, University of Chicago Booth School of Business, Central Bank of India, International Monetary Fund Locations: China, India, Communist China, Asia, Japan
When I was 16, my grandma started to forget things like turning off the stove and mistaking sugar for salt. Memory loss is one of the earliest symptoms of dementia and is often noticed first by other people besides the affected individual. My mom would visit my grandma daily while my sister and I accompanied her on weekends. It struck me that, although she couldn't remember my name, she never forgot about the value of getting an education. Despite everything, some memories remain intactThe weekend before my 17th birthday, my grandma was receiving palliative care at a hospital for pneumonia.
Persons: , Anand, it's, Nandini, it's Nan, I've, Nandini Maharaj Organizations: Service, Business, CDC Locations: cardigan, Trinidadian
We have discovered the earliest evidence of fresh water and representative evidence for dry land above the sea,” he added. The research indicates that the Earth’s water cycle — when water moves between land, oceans and atmosphere through evaporation and precipitation — was operating at that point in time. The earliest widely agreed upon evidence of life — and fresh water — comes from stromatolites, fossilized microbes that formed mounds in hot springs 3.5 billion years ago, Gamaleldien said. Two zircon crystals showed isotopic evidence of meteoric or fresh water; one was 4 billion years old, while the other was 3.4 billion years old, he said. What’s more, land and fresh water, which likely would have fallen as rain, would have provided the essential ingredients for the origin of life, he said.
Persons: , Hamed Gamaleldien, ” Gamaleldien, Gamaleldien, … landmasses, Hugo Olierook, Hamed, , John Valley, Geochemist Beth Ann Bell, wasn’t, ” Bell Organizations: CNN, Nature, , Curtin University’s School of, Planetary Sciences, Khalifa University, United Arab, Curtin’s School of, geoscience, University of Wisconsin Locations: Australia, United Arab Emirates, Western Australia, Jack, John, Madison
New York CNN —Anchor Brewing, America’s oldest craft brewer, closed last summer after more than 127 years in business. Anchor closed in July 2023 and its former parent company Sapporo USA put it up for sale after facing years of declining sales. Despite Ulukaya’s excitement about reviving the 127-year-old brand, the craft beer business has been in decline as drinkers shift to spirits and cheaper alternatives. “The brand struggled because it kept relevance with longtime, committed craft beer enthusiasts, but rarely registered with young people or casual drinkers,” Roth said. “Focusing on Anchors legacy, stature, and part of American craft beer history could help the brewery form new emotional connections with drinkers.”
Persons: it’s, Hamdi Ulukaya, Brewing’s, Ulukaya, , Anchor’s, Jose Sarmento Matos, there’s, ” Bryan Roth, ” Roth Organizations: New, New York CNN, Brewing, LinkedIn, San, Sapporo, Bloomberg, Getty, San Francisco, Feel Goods Company, CNN Locations: New York, San Francisco, California, Sapporo USA, Sapporo, Potrero Hill
But now, for a growing cohort of Gen Zers and millennials, it's their card, too. According to the company, millennials and Gen Z consumers made up 60% of its new customer acquisitions worldwide, and 75% of its new platinum and gold accounts were opened by millennial and Gen Z members. Related storiesAmex has implemented a number of tactics to pull off its youth revolution and cement its place as a status symbol among relatively affluent millennial and Gen Z consumers. For many young consumers, having an Amex rewards card is sort of like having a good, varied subscription service that runs them less than $60 a month. AdvertisementAll that aside, the Amex Platinum Card seems neat.
Persons: Gen Zers, youngs, it's, they'd, Amex, Zers, Gen X, Z, Steve Squeri, Jim Cramer, Gen Zs, Michael Miller, Uber, Miller, Daisy Hernandez, Guy, Stephen Biggar, Amex isn't, Chase Sapphire, I've, Emily Stewart Organizations: American Express, Express, Mastercard, Visa, American, CNBC, Morningstar Research, New York Times, Wall Street, Saks, Walmart, US, Argus Research, bodega, Business Locations: Coachella
The in-house AI model called MAI-1 is said to be trained using a public dataset and text from ChatGPT, a source told The Information. AdvertisementThe company has a text-to-image generator called Microsoft Designer, which launched last year after being tested in December 2022. MetaMeta has an AI assistant called Meta AI. NurPhoto/Getty ImagesMeta has an AI assistant called Meta AI, which is run on its open-source LLM, Llama. It also has an AI image generator called Imagine, which launched in December and was trained on public Facebook and Instagram photos.
Persons: , Microsft, OpenAI, it's, Mustafa Suleyman, Shane Jones, VASA, Satya Nadella, OpenAI OpenAI, Sundar Pichai, OpenAI might've, Scarlett Johansson, OpenAI's chatbot, Sam Altman, Meta Meta Organizations: Service, Microsoft, Google, Apple, Business, Microsoft Microsoft, Microsft Microsoft, Federal Trade Commission, MAI, Lumiere Meta, Google Google, Meta, Facebook, Titan, Anadolu Amazon's, Olympus, Web Services, Amazon Locations: ChatGPT, Anthropic
Read previewAnother US MQ-9 Reaper drone came down in Yemen, images appear to show, marking the third loss during the conflict with Houthi rebels in the last month, an Associated Press report said. pic.twitter.com/pNeRJ5Kkei — Megatron (@Megatron_ron) May 29, 2024Houthi spokesman Yahya Saree claimed his fighters shot dow the US Reaper drone in northern Yemen. AP said it was the third report of a downing of an expensive Reaper drone in the last month. The news agency also approached the CIA regarding the downing of the Reaper drone, but it declined to comment. "The MQ-9 Reaper may not be survivable in an environment characterized by large-scale combat operations."
Persons: , Houthis, Hou, tod, Rea, Ros Organizations: Service, Associated Press, US Navy, Business, dow, Uni, kr Locations: Yemen, Israel, Gaza
The S & P 500 is a mere 1.2% from its all-time high, yet only 60% of its member stocks are up for the year and just over 40% last week were above their 50-day moving average. .SPX YTD mountain S & P 500, 1-year We seem to undergo one of these periods of decrying a lack of market breadth every few months in recent years. Bespoke Investment Group last week looked at the small number of past instances when the S & P 500 was so close to a record yet most stocks were beneath a 50-day average. The 100-day correlation between the S & P 500 and the Dow Jones Industrial Average has hit its lowest level since the dot-com bust of the early 2000s, according to CNBC's Data & Analytics group. The S & P 500 at the highs hit 21-times forward earnings, and we've spent very little time above that outside the pandemic melt-up and the tech boom/bust a quarter-century ago.
Persons: Warren Pies, Dow, Scott Chronert, we've Organizations: Investment, 3Fourteen, Nvidia, Treasury, Microsoft, Apple, Dow Jones, Dell Technologies, Citi, UBS Locations: Banks
Read previewUS efforts to counterbalance Chinese imports could instead create unsteadiness in the country's fight against inflation, S&P Global Intelligence wrote. Advertisement"Yet economists say the new duties, and tariffs more broadly, may carry an unwelcome consequence: higher prices and a heightened probability of higher-for-longer interest rates," S&P wrote. Of the 14 categories under scrutiny, the top five accounted for just 3% of Chinese imports into the US in 2022, S&P cited. But for domestic manufacturers, tariffs can ease the pressure to lower prices, as Chinese competitors lose their low-cost advantage. In this sense, protectionism can boost economic growth in the long run, but not before fueling market inefficiencies and complicating inflation.
Persons: , Donald Trump, hasn't shied, Biden, he's, Ben Herzon Organizations: Service, P Global Intelligence, Federal Reserve, Business, P's Locations: China
Here's a rapid-fire update on all 33 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Below $200 a share is the level we'd get interested in buying more Salesforce stock, Jim said. The industrial name will continue to be a beneficiary of the AI trade due to Eaton's booming data center business. Alphabet : If this mega-cap name experiences a move lower, investors should scoop up shares, Jim said. Nvidia : There's not much more to say about Nvidia in light of another blowout earnings report and the strong guidance accompanying it.
Persons: Jim Cramer's, Jim, Apple's, Goldman Sachs, Salesforce, We've, Danaher, he'd, Walt Disney, We're, Estee Lauder, Eaton, Ford, Motors, Mary Dillon's, It's, Linde, Eli Lilly, Mark Zuckerberg's, Morgan Stanley, we're, Stanley Black, we've, Wynn, Jim Cramer, Michael M Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Abbott Laboratories, Abbott Labs, Amazon Web Services, Broadcom, Dell, Samsung, Costco Wholesale, Coterra Energy, DuPont De Nemours, DuPont, The, Eaton, Ford, GE Healthcare, Honeywell, Jim, Linde, Microsoft, Nvidia, Palo Alto Networks, Palo Alto, Change, Procter & Gamble, Constellation Brands, Constellation, Modelo, Corona, Federal Reserve, TJX, Marshalls, Wynn Resorts, Jim Cramer's Charitable, Traders, New York Stock Exchange, Santiago, Getty Locations: China, Dover, Eaton, U.S, Maxx, HomeGoods, Wells Fargo, Macau, New York City
Bottom Line This was a better-than-feared quarter from Best Buy. Services are an area that Best Buy can lean into and leverage to differentiate from online retailers like Amazon . Importantly, she noted that not only will Best Buy have the largest assortment of AI-enabled PCs but over 40% of that assortment will be exclusive to Best Buy. Going back to how Best Buy can compete with the likes of Amazon, Best Buy is working closely with vendors on marketing strategies and demonstrations to offer a "unique educational and interconnected digital shopping journey." Bimal Tandel photographs Bhavin Tandel and Dinesh Tandel, crew members on the Klara Oldendorff, in front of a Best Buy in Timonium, Maryland, U.S., March 29, 2024.
Persons: Corie Barry, we're, Barry, FactSet, Jim Cramer's, Jim Cramer, Jim, Bimal, Bhavin Tandel, Dinesh Tandel, Klara Oldendorff, Julia Nikhinson Organizations: LSEG, Services, Amazon, Computer, Target, Walmart, Costco, Barry, Apple, CNBC Locations: Timonium , Maryland, U.S
The Hong Kong and Beijing governments have repeatedly denied the national security law is suppressing freedoms, arguing it has ended chaos and “restored stability” to the city. Since the national security law came into effect in 2020, civil groups have disbanded, and independent media outlets have been shut down. They are the first defendants to be acquitted in a national security law trial in Hong Kong. But that strategy is in doubt after another local national security law enacted earlier this year curtailed access to reduced sentences for guilty pleas. “It’s absolutely clear that the national security law reduced the independence and the autonomy of the judiciary.
Persons: Hong Kong’s, Hong, Gwyneth Ho, Leung Kwok, , Lawrence Lau, Lee Yu, , , Joshua Wong, Benny Tai, Claudia Mo, Eric Lai, John Burns, Hong Kong Organizations: Hong Kong CNN, Beijing, British, Hong, Hong Kong’s Legislative, Georgetown Center, Asian Law, Communist Party, city’s, University of Hong Locations: Hong Kong, Hong, Beijing, Hong Kong’s, China, University of Hong Kong
The S&P 500 is primed to rise 4% in June, according to Fundstrat's Tom Lee. AdvertisementThe stock market is poised to rise another 4% in June after jumping 5% in May, according to a Tuesday note from Fundstrat's Tom Lee. Lee said the S&P 500 could jump to 5,500 within the next month, driven by five positive market catalysts. Such a gain would send the S&P 500 to new all-time highs. But Nvidia's blowout earnings results last week could jolt investors to finally put that cash to work and buy stocks, according to Lee.
Persons: Tom Lee, Lee, Organizations: Service, PCE, CPI, Bank of America
Nvidia is now a $2.8 trillion company, an eyewatering figure that places the graphics processing unit maker just behind Apple ($2.9 trillion) and Microsoft ($3.2 trillion) in the S & P 500. At the same time, however, more investors wonder if Nvidia is overvalued and they should start taking profits, especially as the broader market comes under pressure from higher Treasury yields. Nvidia has surged above its 50-day and 200-day moving averages, and it now boasts a price-to-earnings (P/E) ratio of 66. A move toward the upper band could mean the stock is overbought. Correction: A previous version of this article misstated the values of Nvidia, Apple and Microsoft.
Persons: Josh Brown, BTIG's Jonathan Krinsky, Krinsky, Wolfe, Rob Ginsberg, Ginsberg Organizations: Nvidia, Apple, Microsoft, Walmart, Netflix, Wealth, Bollinger
The Supreme Court, Tatel wrote, has “kicked precedent to the curb” and become “a tragedy” for civil rights and the rule of law. He said she revealed early dealings among justices that eventually led to the milestone 2013 Shelby County v. Holder decision undermining the Voting Rights Act. ‘John Stevens didn’t step down until he was ninety,” Tatel wrote. He served as director of the Chicago Lawyers’ Committee for Civil Rights Under Law and then as director of the National Committee. During the Jimmy Carter administration, he led the Office of Civil Rights at the Department of Health, Education and Welfare.
Persons: David Tatel, , John Roberts, Bill Clinton, Tatel, Roberts, Ruth Bader Ginsburg, Holder, Ginsburg, , , ‘ John Stevens didn’t, ” Tatel, , Ruth, Hillary Clinton, Donald Trump, Obama, , Trump, Amy Coney Barrett, Roe, Wade, Dobbs, Justice Ginsburg, “ I’ve, Jimmy Carter, Clinton, ” Roberts, Dick Cheney, “ …, Scalia, Cheney, , David, Joe Biden, I’ve Organizations: CNN, Democrat, Jackson, Health Organization, Chicago Lawyers ’, Civil, Law, National Committee, Department of Health, Education, Welfare, DC Circuit, US Department of Justice, Northwest Austin, Civil Rights Movement, Court, Supreme Locations: County, Washington, Shelby County, Northwest, Northwest Austin
Detrick: Upward market bias is still intact
  + stars: | 2024-05-28 | 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 EmailDetrick: Upward market bias is still intactRyan Detrick, Chief Market Strateigst at the Carson Group, discusses the new trading day and week.
Persons: Ryan Detrick Organizations: Carson Group
“Mom was saying, ‘Kolya, Kolya.’ I shouted, ‘Mom, I’m alive.’”He said he frantically scraped the dust from his face and eyes. And I was shouting, ‘Mother, mother, it’s just a dream, a horrible dream.’” Mykola had a similar nightmare days earlier, and felt it might be recurring. Hours earlier, the family had a barbecue, and Mykola senior drank one beer too many and talked passionately about enlisting. In the pitch black, his son clambered outside, the front of their comfortable family home beyond recognition, its gates torn clean away. Video Ad Feedback CNN witnesses Ukrainian soldiers being treated after blast hits dugout 02:04 - Source: CNNThey were quickly tended to.
Persons: Eastern Ukraine CNN — Mykola, Larisa, Mykola Glushko, , , , , it’s, ’ ” Mykola, Mykola, clambered, Mick Krever, CNN Mykola, gurney, Ivan Organizations: Eastern, Eastern Ukraine CNN, CNN, Russian, quicken, 93rd Locations: Eastern Ukraine, Pokrovsk, Ukraine, Workers, Moscow, Kharkiv, , Bakhmut, Russia
The immediate takeaway from the landmark $2.8 billion settlement that the N.C.A.A. and the major athletic conferences accepted on Thursday was that it cut straight at the heart of the organization’s cherished model of amateurism: Schools can now pay their athletes directly. But another bedrock principle remains intact, and maintaining it is likely to be a priority for the N.C.A.A. : that players who are paid by the universities are not employed by them, and therefore do not have the right to collectively bargain. That stance came under greater legal and political scrutiny in recent years, leading to the settlement, which still requires approval by a judge.
Persons: ” John I, Jenkins Organizations: University of Notre Dame
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