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Uncovering a lost Maya city in the jungle
  + stars: | 2023-07-29 | by ( Ashley Strickland | ) edition.cnn.com   time to read: +6 min
Once upon a planetShown here are the remains of a building with a staircase that once stood within the ancient city of Ocomtún on the Yucatán Peninsula. Ivan Šprajc/ZRC SAZUA lost Maya city abandoned more than 1,000 years ago has been found in the jungles of Campeche on Mexico’s Yucatán Peninsula. Other worldsThis illustration shows what the Nancy Grace Roman Space Telescope will look like in orbit. These cold, faint worlds are incredibly difficult to detect — but not for the Nancy Grace Roman Space Telescope. Across the universeThe James Webb Space Telescope captured a high-resolution image of Herbig-Haro 46/47, an actively forming pair of stars.
Persons: Indiana Jones, Ivan Šprajc, Juan Carlos Fernandez, Diaz, Fernandez, Nancy Grace, NASA’s, James Webb, Webb, — Carl Sagan’s, Ludwig van Beethoven, , Ashley Strickland, Katie Hunt Organizations: CNN, “ Raiders, SAZU, University of Houston, Slovenian Academy of Sciences and Arts, Hubble, Telescope, NASA, James Webb Space, DePasquale, ESA, Medical University of Vienna, CNN Space, Science Locations: Ocomtún, Campeche, Mexico’s Yucatán, Vietnam, Southeast Asia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRep. French Hill: Digital assets bills will provide regulatory framework and clarity to the marketsHouse Financial Services Committee vice chair and chair of the Digital Asset Committee Rep. French Hill (R-Ark.) joins 'Squawk Box' to discuss two new digital assets bills crafted by the Agriculture and Financial Services Committees, which seeks to establish a regulatory framework for crypto and spur innovation while protecting consumers and market participants, possible impeachment inquiry into President Biden, and more.
Persons: Biden Organizations: Rep, Financial, Digital, Agriculture
CNBC Daily Open: Let’s talk about the Dow
  + stars: | 2023-07-24 | by ( Yeo Boon Ping | ) www.cnbc.com   time to read: +5 min
Michael M. Santiago | Getty Images News | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. For the second half, the bank thinks GDP will grow 1.3%, compared with 0.6%. "India and China combined will make up 2 million barrels a day of demand pick-up in the second half of this year," he said. The bottom lineLet's talk about the Dow Jones Industrial Average and why it did better than the S&P 500 and the Nasdaq Composite last week.
Persons: Michael M, Tesla, Wood, Morgan Stanley, Joe Biden's, Ellen Zentner, Joseph McMonigle, McMonigle, Sarah Min, Dow, Goldman Sachs, Gamble Organizations: New York Stock Exchange, Santiago, Getty, CNBC, Nasdaq, KE Holdings, Joe Biden's Infrastructure Investment, Jobs, International Energy, Federal Reserve, Dow Jones Industrial, JPMorgan Chase, Apple, Microsoft, Nike, Procter, Nvidia, UnitedHealth, Dow Locations: New York City, China, U.S, India
A truck driver who assaulted a police officer with a flagpole at the Capitol on Jan. 6, 2021, was sentenced on Monday to 52 months in federal prison. The attack by the driver, Peter Stager, produced one of the most disturbing images to emerge from the Capitol attack. Mr. Stager, 44, of Conway, Ark., was captured on video beating the officer, Blake Miller, with the flagpole in a fit of rage as Officer Miller lay facedown in a mob of other rioters with “no means of defending himself,” prosecutors wrote in court papers. Officers who fell victim to attacks in a tunnel on the terrace and on the steps there have repeatedly likened the violence to the hand-to-hand combat of a medieval battle. After assaulting Officer Miller, prosecutors say, Mr. Stager was caught on video pointing at the Capitol, and declaring: “Everybody in there is a disgrace.
Persons: Peter Stager, Stager, Blake Miller, Miller, , Carter Moore, Andrew Wayte Organizations: Capitol, Officers Locations: Conway, West Terrace
A World Transformed by 5 Percentage Points
  + stars: | 2023-07-23 | by ( Sam Goldfarb | ) www.wsj.com   time to read: 1 min
The music stopped when surging inflation caused rates and bond yields to jump. Cathie Wood’s ARK Innovation ETF, crowded with shares of futuristic businesses from gene-editing companies to Tesla, has lost around 70% since its peak in February 2021. ARK Innovation ETF, price change since the end of 2018Source: FactSet
Organizations: Innovation
Did the world need Arizona Iced Tea-branded Adidas sneakers marketed for 99 cents? Did they attract so many potential buyers that the New York Police Department had to shut the sale down at the pop-up store selling them? The “Barbie” marketing team absolutely understands this, and the absurd brand-collaboration drops have spread with the speed of the 1854 cholera outbreak in London. There’s a real-world Barbie dream house on Airbnb, Barbie Krispy Kreme doughnuts, Barbie rugs and a Barbie Xbox. Surprisingly, there is no Barbie Pepto Bismol, which seems like a natural fit in terms of existing I.P.
Persons: Robert Oppenheimer, Taylor Swift, Barbie, There’s, Oppenheimer, Barbie ”, “ Oppenheimer, launders Organizations: “ Raiders, Adidas, New York Police Department Locations: Arizona, London
HONG KONG/TAIPEI, July 21 (Reuters) - Investors are putting aside geopolitical tensions to pile in to Taiwan stocks, with foreign inflows the biggest in years, thanks to soaring artificial intelligence and chipmaking stocks. Rather, investors say it's all the more sturdy as the bogged-down conflict deters Chinese action and risks can be managed by keeping positions liquid with one eye on a possibly quick exit. "A potential escalation of events in the Taiwan Strait down the line is less relevant for these investors," he said. "So that makes Taiwan’s AI supply chain very attractive for foreign investors, and we believe their fund inflows will continue to be strong throughout the year." Investors say Taiwan's market is uniquely positioned to benefit because it is exposed to the sector's growth from applications to components, where demand is rebounding.
Persons: Carlos Casanova, Warren Buffett, we've, Frank Benzimra, Hai, Andrew Swan, Goldman Sachs, Clarence Chan, Summer Zhen, Kim Coghill Organizations: Nasdaq, Union Bancaire, Taiwan Semiconductor Manufacturing, Societe Generale ., Accton Technology, Hai Precision Industry, Wistron Corp, Alchip Technologies, Ark Investment Management, Vanguard, PineBridge Investments, Mellon Investment Management, Thomson Locations: HONG KONG, TAIPEI, Taiwan, Asia, Ukraine, Taiwan Strait, China, Taipei, Japan, PineBridge Investments Asia, Alchip, Asia Pacific, Hong Kong
Ark Invest's Cathie Wood said her flagship innovation fund has reduced its China exposure to zero as the developing market faces an economic slowdown. ARKK used to own shares in Chinese tech giant Tencent and property site KE Holdings . The innovation investor said she changed her stance on China after Beijing started to tighten its grip on the economy by cracking down the ultrawealthy and the tech sector. ARK Fintech Innovation ETF (ARKF) still owns a small stake in Chinese e-commerce company JD.com , but it has dumped other Chinese names like Pinduoduo and Tencent. Her flagship fund has had a banner year so far as her top holdings rebounded from sharp losses triggered by rising rates.
Persons: Cathie Wood, Tesla, Wood, ARKK, China's, she's Organizations: Ark, CNBC, New York Stock Exchange, Innovation, KE Locations: China, Beijing
'Struggling for clarity' in the spot bitcoin ETF pursuit
  + stars: | 2023-07-20 | by ( Kevin Schmidt | ) www.cnbc.com   time to read: +1 min
As applications for a spot bitcoin exchange-traded fund head to the SEC for review, cryptocurrency experts remain cautious as to whether proposed surveillance-sharing agreements will be the key to the approval process. "We'll keep giving more information to our regulators," Cboe CEO Ed Tilly told CNBC's Bob Pisani on "ETF Edge" on Monday. Cboe has several applications for bitcoin ETFs to list on its exchange, including funds from WisdomTree, VanEck and Ark. This week the Securities and Exchange Commission acknowledged submissions from several firms including VanEck and WisdomTree, with those proposals appearing Wednesday on the Federal Register. "I just think it's a bad ruling, but we'll ultimately see how that plays out," he said.
Persons: Ed Tilly, CNBC's Bob Pisani, Cboe, Tilly, Michael Green, Pisani, Green, we'll Organizations: SEC, Securities and Exchange Commission, VanEck, Federal, of Locations: WisdomTree, Southern, of New York
SAN FRANCISCO, July 19 (Reuters) - Tesla (TSLA.O) Chief Executive Elon Musk on Wednesday set new targets for artificial intelligence products including self-driving software and using humanoid robots in factories, though he acknowledged he's been optimistic before. The electric vehicle maker is in early talks with a major automaker to license its full self-driving technology, Musk added. The value of Tesla vehicles would rise in perhaps "the single biggest step change in history" once regulators approved self-driving, he said at an earnings briefing. Musk has also said that Tesla robots, in pilot phase, could become a huge product. But Musk said Tesla will keep pushing to expand sales volume at the cost of profit margins, betting on the long-term value from FSD.
Persons: Elon Musk, he's, Musk, Tesla, Tesla's, Tasha Keeney, I've, Abhirup Roy, Peter Henderson, Sam Holmes Organizations: FRANCISCO, Twitter, Thomson Locations: San Francisco
Watch CNBC's full interview with Gene Munster and Tasha Keeney
  + stars: | 2023-07-19 | 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 EmailWatch CNBC's full interview with Gene Munster and Tasha KeeneyTasha Keeney, Director of Investment Analysis & Institutional Strategies at ARK Invest, and Gene Munster, Deepwater Asset Management, join 'Fast Money' to talk Tesla earnings.
Persons: Gene Munster, Tasha Keeney Tasha Keeney Organizations: Investment, ARK Invest, Deepwater Asset Management
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTesla's Cyber Truck might be late but there should be a stock boost when it comes out: Gene MunsterTasha Keeney, Director of Investment Analysis & Institutional Strategies at ARK Invest, and Gene Munster, Deepwater Asset Management, join 'Fast Money' to talk Tesla earnings.
Persons: Gene Munster Tasha Keeney, Gene Munster Organizations: Investment, ARK Invest, Deepwater Asset Management
When it comes to Tesla stock, the only reason to buy has nothing to do with its electric vehicle business. But according to a Wednesday note from DataTrek Research co-founder Nicholas Colas, there's only one reason to buy Tesla stock at its current levels, and it has nothing to do with its EV business. The car industry is difficult to compete in, as evidenced by the current stock prices of legacy automakers, he observed. So when it comes to Tesla stock, don't just look at its EV sales, according to Colas. The remaining $200 billion to $300 billion of Tesla's current market valuation is assigned to the company's EV business, which is comparable to Toyota's current market valuation.
Persons: Tesla, Nicholas Colas, Ark, Elon Musk, Colas, Musk Organizations: General Motors, Ford, Honda, Mercedes, Service, DataTrek Research, Toyota Locations: Wall, Silicon
Cathie Wood’s ARK Writes Down Twitter Stake by 47%
  + stars: | 2023-07-17 | by ( Jack Pitcher | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/cathie-woods-ark-writes-down-twitter-stake-by-47-407b83d4
Persons: Dow Jones
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBinance considers thousands of layoffs, and ARK sells more Coinbase stock: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Kevin Dinino of KCD PR discusses how crypto companies are marketing themselves after 2022's meltdown.
Persons: explainers, Kevin Dinino Organizations: CNBC Crypto, CNBC, KCD
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBig Technology's Alex Kantrowitz weighs in on the tech news of the dayBig Technology Founder Alex Kantrowitz discusses news from Microsoft and Sony, Tesla's cybertruck, and Cathie Wood's ARK Innovation ETF.
Persons: Alex Kantrowitz, Tesla's cybertruck Organizations: Big Technology, Microsoft, Sony
Ark Invest has marked down its Twitter valuation by 47% since it was taken over by Elon Musk, the Wall Street Journal reported. Musk had recently tweeted that Twitter's advertising revenue has been cut in half since he took over the company. Given Musk purchased Twitter for $44 billion late last year, the markdown would put the company's current valuation at about $23 billion, based on Ark's estimate. "We're still negative cash flow, due to ~50% drop in advertising revenue plus heavy debt load," Musk said of Twitter on Twitter. We also think that longer term, Elon and team are very serious that they're going to turn this into an everything app," Wood said.
Persons: Elon Musk, Musk, Cathie Wood, Wood, Elon Organizations: Elon, Wall Street Journal, Service, Wall Street, Invest's Venture, Twitter, Fidelity, Ark, Nvidia, Nasdaq Locations: Wall, Silicon
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailARK Invest CEO Cathie Wood believes outflows are the result of investors taking gainsCNBC's Deirdre Bosa joins 'TechCheck to discuss investors abandoning the ARKK ETF, the strength of ARK's asset retentions, and investor portfolio rebalancing following gains.
Persons: Cathie Wood, outflows, Deirdre Bosa
CNBC's Jim Cramer on Monday stressed his belief that diversification is key to a successful portfolio. Cramer looked at the strategies of ARK 's Cathie Wood and BlackRock 's Larry Fink to explain why he thinks diversification is usually the best strategy for long-term gains. Cramer said Wood's primary investment style is to get a few stocks she feels have the highest potential. "That's the danger of running an undiversified portfolio: You have to be right every time, or else your investors, they get obliterated," Cramer said. Fink, however, prioritizes diversification, Cramer said, adding that BlackRock is the world's largest asset manager, with $9.4 trillion in holdings.
Persons: CNBC's Jim Cramer, Cramer, Wood, Larry Fink, she's, Tesla, haven't, Fink, That's Organizations: BlackRock, Nasdaq
Investors Are Bailing on Cathie Wood’s Popular ARK Fund
  + stars: | 2023-07-16 | by ( Jack Pitcher | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/investors-are-bailing-on-cathie-woods-popular-ark-fund-dbf5d801
Persons: Dow Jones
Chinese military-run hospital ship arrives in Kiribati
  + stars: | 2023-07-16 | by ( Yew Lun Tian | ) www.reuters.com   time to read: +1 min
BEIJING, July 16 (Reuters) - A Chinese military-run hospital ship has arrived in Kiribati for the first time, as China vies with the United States for influence in the Pacific region. The ship docked at Kiribati on Saturday to start a seven-day visit that includes humanitarian medical assistance, the Chinese defence ministry said on its official WeChat account on Sunday. While medical crew from the ship will see patients at the local hospital and other places, the Chinese commanding officer will meet with Kiribati leaders including the president, health minister, transport minister and police chief. The ship is also due to visit Tonga, Vanuatu, the Solomon Islands and East Timor. Reporting by Yew Lun Tian; Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.
Persons: Yew Lun, Hugh Lawson Organizations: Kiribati, Thomson Locations: BEIJING, Kiribati, China, United States, Pacific, Taiwan, Tonga, Vanuatu, Solomon Islands, East Timor, Australia, New Zealand
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailARK's Cathie Wood: Nvidia is an incredible A.I. play and is priced accordinglyCathie Wood, Ark Invest CEO, join's Tech Check to talk the A.I. space, ARK's ETF hitting an 11-month high and what stocks she is watching in the tech space.
Organizations: Nvidia, Ark Invest
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailARK's Cathie Wood: The market is starting to look to the other side of the rate hike cycleCathie Wood, Ark Invest CEO, join's Tech Check to talk the A.I. space, ARK's ETF hitting an 11-month high and what stocks she is watching in the tech space.
Organizations: Ark Invest
The Invesco QQQ Trust (QQQ) , which has even heavier exposure to Big Tech names, has brought in $5.8 billion of its own. "It's not really the overconcentration in the big names that worries me. It's actually the concentration in the big names compared to their earnings contribution," said Oktay Kavrak, director of communications and strategy at Leverage Shares. Whether you're passive or active, you probably have enough exposure to Nvidia and Apple and Microsoft," said Todd Sohn, ETF strategist at Strategas. There's a whiff of it, a scent of it," Sohn said, pointing out that money market funds attracted more cash than equity funds last week.
Persons: Matthew Bartolini, Bartolini, It's, Oktay Kavrak, Todd Sohn, . Sohn, Kavrak, Sohn, Cathie Wood's Organizations: Vanguard, Big Tech, SPDR, Street Global Advisors, Microsoft, Nvidia, Nasdaq, RSP, Apple, Trust, Technology, Index, Fund, The Vanguard FTSE Locations: SPDR Americas, Europe
NEW YORK, July 12 (Reuters) - The flagship fund of star stockpicker Cathie Wood hit an 11-month high Wednesday, extending a rally that has been powered by bets that inflation would fall rapidly and benefit the sort of speculative technology stocks she is known for. The $8.4 billion ARK Innovation ETF (ARKK.P) rose 0.6% in morning trading Wednesday to its highest level since August 2022. Wood's fund was among the worst-performing U.S. equity funds overall in 2022 as she continued to downplay the impact of inflation and said that deflation would be the larger issue driving markets. Lower interest rates help unprofitable or other early-stage companies by lowering their borrowing costs and increasing the value of future profits. "Anything that puts interest rate hikes at bay is definitely positive for any small-cap or speculative tech stock," he said.
Persons: stockpicker Cathie Wood, Jamie Cox, David Randall Organizations: YORK, Coinbase Global Inc, Sciences, Commerce Department, Federal Reserve, Harris Financial Group, Thomson
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