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☆ Crypto stocks like Coinbase and MicroStrategy soar, mirroring rally in bitcoin
▼ + stars: | 2024-07-15 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +2 min

The Securities And Exchange Commission has filed a lawsuit against cryptocurrency exchange Coinbase for allegedly violating securities laws by acting as an exchange, a broker and a clearing agency without registering with the Securities and Exchange Commission. (Photo Illustration by Justin Sullivan/Getty Images)Coinbase , MicroStrategy and Riot Platforms surged Monday as investors piled into crypto companies following bitcoin's rally to a two-week high. Bitcoin is up about 6% in the past 24 hours, trading at around $63,500 as of early Monday afternoon. Bitcoin accounted for 33% of trading volume on the platform in the first quarter, by far the biggest amount for any cryptocurrency. On Thursday, the company announced a 10-for-1 stock split, in order "to make MicroStrategy's stock more accessible to investors and employees."

Persons: Justin Sullivan, Donald Trump, Trump, Bitcoin, bitcoin Organizations: Securities, Exchange, Securities and Exchange Commission, Republican, Marathon, Miners Locations: CALIFORNIA, San Anselmo , California, Nashville , Tennessee, U.S

☆ The shock from the Trump assassination attempt has turned to scrutiny of the Secret Service
▼ + stars: | 2024-07-15 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

The US is still coming to grips with the assassination attempt on former President Donald Trump. In today's big story, we examine the scrutiny the Secret Service is facing and what former special agents are saying about the tragedy . But that's not to say the Secret Service has avoided controversy over the last 40-plus years since the Reagan shooting. Secret Service agents converge on former President Donald Trump onstage at his Pennsylvania campaign rally. AdvertisementUltimately, another former Secret Service agent said the entire event represents a failure for Trump's security detail , BI's Matthew Loh and Cameron Manley report.

Persons: —, Donald Trump, Jenny Chang, Rodriguez, Joe Biden, Insider's Brent D, Griffiths, Katherine Tangalakis, Lauren Edmonds, Saturday, Ronald Reagan, that's, Reagan, Brent, Jabin, Thomas Matthew Crooks, BI's Rebecca Rommen, Crooks, BI's Laura Italiano, Kenneth Niemeyer, Matthew Loh, Cameron Manley, Trump, Corey Comperatore, Kirill Kudryavtsev, Yuriy Gorodnichenko, Goldman Sachs, Michael M, Tyler Le, Jensen Huang, Elon Musk, Sam Altman's, Altman, Rebecca Zisser, Mickey Mouse, Hannah Montana, David, Nvidia's Goliath, Dan DeFrancesco, Jordan Parker Erb, Lisa Ryan, Jack Sommers, Annie Smith, Amanda Yen Organizations: Service, Business, Secret Service, Washington, Getty, FBI, UC Berkeley, NDR, Nvidia, Elon, European, Swedish, Disney, YouTube, GOP, Convention Locations: Colombia, Pennsylvania, Trump, Russia, New York, London

☆ Live updates: Trump officially becomes the Republican nominee as delegates vote
▼ + stars: | 2024-07-15 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +1 min

Editor's note: This is a developing story and will be updated throughout the day. Former President Donald Trump on Monday officially received the 1,215 delegates required to become the official GOP presidential nominee at the Republican National Convention in Milwaukee. The designation came moments after Trump on Truth Social announced Sen. JD Vance, R-Ohio, to be his running mate, solidifying the Republican ticket for November. The convention kicks off days after Trump's attempted assassination at a Pennsylvania rally on Saturday where one rally attendee was killed, and two others were critically injured. From Monday to Thursday, over 80 of Trump's closest allies, big-ticket donors and other lawmakers are expected to speak.

Persons: Donald Trump, Trump, Sen, JD Vance, Trump's, Thomas Matthew Crooks, Corey Lewandowski, Marjorie Taylor Greene, Amber Rose, David Sacks, South Carolina Sen, Tim Scott, Kristi Noem Organizations: Monday, Republican National Convention, Truth Social, Republican, RNC, Trump, decibel, Georgia, South, South Dakota Gov Locations: Milwaukee, R, Ohio, South Carolina, City

☆ The stars have aligned for this corner of the stock market as the US economy enters its 'Goldilocks' era, BofA says
▼ + stars: | 2024-07-15 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The bank said the Federal Reserve can shift its focus to economic growth after the cool June CPI report. "Slowing GDP + accelerating EPS has been the best backdrop for stocks," Bank of America said. AdvertisementThe cooler-than-expected June CPI report is fueling a "Goldilocks" economy that should benefit one specific corner of the stock market: cyclicals. We think the economy is moderating not rolling over, but we expect our view to evolve with the data," Kwon said. "Slowing GDP + accelerating EPS has been the best backdrop for stocks," Kwon said.

Persons: —, Ohsung Kwon, Kwon Organizations: Bank of America, Federal, Service, Fed, Apple, Microsoft, Nvidia, Tesla

☆ J.D. Vance Is Closely Aligned With Trump on Key Issues
▼ + stars: | 2024-07-15 | by ( Adam Nagourney | ) www.nytimes.com time to read: +1 min

Vance of Ohio, Donald J. Trump’s newly chosen running mate, has made a shift from the Trump critic he was when he first entered politics to the loyalist he is today. It was a shift both in style and substance: Now, on topics as disparate as trade and Ukraine, Mr. Vance is closely aligned with Mr. Trump. Here’s a look at where the senator stands on the issues that will most likely dominate the campaign ahead and, should Mr. Trump and Mr. Vance win in November, their years in the White House. AbortionMr. Vance opposes abortion rights, even in the case of incest or rape, but says there should be exceptions for cases when the mother’s life is in danger. As he ran for Senate in 2022, a headline on the issues section of his campaign website read simply: “Ban Abortion.”That said, Mr. Vance, like Mr. Trump, opposes a national abortion ban, saying the issue should now be left to the states.

Persons: J.D, Vance of Ohio, Donald J, Trump’s, Vance, Trump, Roe, Wade, ” Organizations: Trump, Mr, U.S, Supreme, USA, Network Locations: Ukraine, “ Ohio, California, New York

☆ A famed economist who called the 2008 recession shares 5 signs the US is on the brink of a downturn — all while the stock market shows concerning weakness beneath the surface of record highs
▼ + stars: | 2024-07-13 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

But don't bet on a soft landing outcome for the US economy as the Fed gets set to cut rates, says famed economist David Rosenberg. AdvertisementRosenberg ResearchRosenberg's downbeat views on the labor market come amid his skepticism about the impressive rallies in major stock-market indexes like the Nasdaq 100 and the S&P 500. Still, as Rosenberg points out, some say the Fed needs to act urgently as the labor market weakens. Waiting too long to lower interest rates to support the economy will only increase the odds of the job market breaking down." Rosenberg has been consistently bearish on the US economy in recent months, while the labor market has continued to prove him wrong.

Persons: —, David Rosenberg, Rosenberg, Merrill Lynch's, Eli Lilly, Russell, Neil Dutta, Dutta Organizations: Service, Fed, Rosenberg Research, Business, Bureau of Labor Statistics ', Survey, Nasdaq, Nvidia, Microsoft, Meta, Macro

☆ The Olympics have long promoted safe sex. Now it wants to focus on pleasure.
▼ + stars: | 2024-07-13 | by ( Jessie Gretener | ) edition.cnn.com time to read: +7 min

Rather, when it comes to sex, pleasure takes first place. They will also have numerous sexual health testing centers on site for athletes, in addition to the sexual health awareness messaging. Rather, she says the most productive way to encourage safe sex is to flip the script from the beginning by focusing on why people have sex. Philpott told CNN that the need to shift the narrative in safe sex conversations is as urgent as ever. The scheme to which he contributes, known as “Moving The Goalposts,” works directly with community leaders, fathers, and young boys to provide resources on sexual health, sexual rights, gender, and positive masculinity.

Persons: Ed, Buda Mendes, Terrence Higgins, Anne Philpott, ” Philpott, Philpott, “ There’s, it’s, Deogratia Okoko, ”, ” Okoko, “ Organizations: CNN, Paris, Olympic, World Health Organization, Olympics, Seoul Games, International Olympic, Paralympic Village, Getty, Terrence Higgins Trust, Wellcome Locations: Love, United States, COVID, Kilifi, Kenya

☆ Opinion: This film is chilling reminder of how ‘not sorry’ Louis C.K. is
▼ + stars: | 2024-07-12 | by ( Opinion Sara Stewart | ) edition.cnn.com time to read: +8 min

CNN —“Sorry/Not Sorry,” in theaters Friday, revisits the 2017 comedy-world firestorm involving five women’s accounts of sexual misconduct by comedian Louis C.K. only to be shut down; and Abby Schachner, a comic and writer who went public with her account of C.K. Then it was followed by C.K.’s Grammy-winning 2022 album “Sincerely Louis C.K.,” in which he joked about the behavior as a sexual hangup rather than abuse. “There are dozens of Russell Brands,” was the headline of one Guardian piece on female comics. I want a world where female comics have a workplace where they feel they’ll be supported — and, more importantly, employed — if they speak out about abuse.

Persons: Sara Stewart, CNN —, Louis C.K, ” Sara Stewart Todd Thompson, Caroline Suh, Cara Mones, Jen Kirkman, Megan Koester, Abby Schachner, Rolling, Suh, C.K, ’, it’s, Tig Notaro, Timm Sharp, Stephanie Allyne, Notaro, she’d, haven’t, they’re, …, Dave Chappelle, Olivia Cathcart, Maria Bamford, Bamford, Russell Brand, Brand, ” Organizations: CNN, New York Times, C.K, Toronto, Hollywood, New York, Paste Magazine, Russell Brands Locations: Pennsylvania, Mississippi

☆ Wholesale prices rose 0.2% in June, slightly hotter than expected
▼ + stars: | 2024-07-12 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

A measure of wholesale prices rose more than expected in June as Wall Street assesses when the Federal Reserve will feel comfortable cutting interest rates. The producer price index rose 0.2% last month, the Labor Department's Bureau of Labor Statistics reported on Friday. The PPI is a gauge of prices that producers can get for their goods and services in the open market. Friday's report comes shortly after the June consumer price index came in cooler than expected on Thursday. The Fed's preferred inflation reading is the personal consumption expenditure price index.

Persons: Dow Jones Organizations: Port, Federal, Labor Department's Bureau of Labor Statistics, PPI, Traders Locations: Port of Los Angeles, San Pedro , California

The takeaway was a split decision: Biden rambled and misspoke several times, but also displayed the confidence and depth of knowledge that his supporters had hoped to hear. Yet for many donors and Democratic officials, the performance wasn’t enough to settle the debate over whether he should stay in the race. Biden demonstrated his command of foreign policy at the news conference. Biden made two headline-making flubs: calling Vice President Kamala Harris “Vice President Trump,” and saying he followed the advice of his “commander in chief” — his own title — about military aid to Ukraine. (Earlier in the day, he introduced President Volodymyr Zelensky of Ukraine as “President Putin” before quickly correcting himself.)

Persons: Biden’s, Biden rambled, Biden, Kamala Harris “, Trump, ” —, Volodymyr Zelensky, Putin ” Organizations: NATO, Democratic Locations: Russia, China, Ukraine, Gaza

☆ Here's why the cooler consumer inflation we wanted flipped the stock market on its head
▼ + stars: | 2024-07-11 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

It also gave investors the green light to rotate out of this year's tech winners and into rate-sensitive stocks. In other words, we're right back to the market expecting as many as three cuts by the end of the year. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Jim Cramer, toolmaker Stanley Black, Decker, Jim, Price, That's, We've, we've, Jim Cramer's, Eric Thayer Organizations: Federal Reserve, CNBC, PPI, Walmart, Costco, PepsiCo, CPI, U.S, Nasdaq, Jim Cramer's Charitable, Aldi, Bloomberg, Getty Locations: Alhambra , California

☆ Stock market today: Tech drags indexes lower, small-caps soar after inflation data boosts rate-cut bets
▼ + stars: | 2024-07-11 | by ( Max Adams | ) www.businessinsider.com time to read: +3 min

Tech stocks tumbled Thursday, weighing on the broader market after the June CPI report. AdvertisementUS stocks slid on Thursday, weighed down by tech names like Nvidia and Microsoft as the Nasdaq tumbled 2%. Here's where US indexes stood at the 4:00 p.m. closing bell on Wednesday:Inflation clocked in at 3% last month, cooler than expected and marking the second month of encouraging data after a tough first quarter. AdvertisementCommentators were quick to call a September rate cut as all but assured, and the odds of a cut at this month's policy meeting crept up slightly as well. "A September rate cut should be a done deal at this point.

Persons: —, Russell, Ed Yardeni, Ron Temple Organizations: Service, Nvidia, Microsoft, Nasdaq, Federal Reserve, Lazard, Fed

☆ Inflation cooled off more than expected in June
▼ + stars: | 2024-07-11 | by ( Madison Hoff | ) www.businessinsider.com time to read: +1 min

The consumer price index increased 3.0% in June from a year earlier. It was expected to cool off slightly — from a year-over-year increase of 3.3% to 3.1%. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe consumer price index rose 3.0% year-over-year in June, the lowest headline year-over-year rate in a year. The expected increase noted on Investing.com was 3.1%.

Persons: — Organizations: Service

☆ Shares of 6 mega-cap companies that run the economy should dominate the stock market
▼ + stars: | 2024-07-11 | by ( Zev Fima | ) www.cnbc.com time to read: +13 min

The market is only driven by a handful of massive tech stocks – and therefore, it's built on a weaker foundation than a market advancing on a broader swath of its constituents. Companies don't lose dominance or stock leadership because they were dominant the last time we had a bull market. We trimmed Nvidia, Meta Platforms, Palo Alto Networks , and five other tech stocks at the beginning of the year. Would the market suddenly become more investible if we broke up the Super Six into say 15 different companies and stocks? However, we don't think they are a reason to bail entirely on any of these names.

Persons: it's, Jim Cramer, Jim, they've, we've, we're, Jim Cramer's, Spencer Platt Organizations: Club, Super, CNBC, Apple, Microsoft, Meta, Nvidia, Fed, Barclays, Big Tech, IBM, Palo Alto Networks, Palo Alto, United Parcel Service, Google, Facebook, Gmail, Amazon, Services, Jim Cramer's Charitable, The New York Stock Exchange, Nasdaq, Getty Locations: Eaton, Dover, 2Q24, U.S, Manhattan, New York City

☆ The Nasdaq looks ugly, giving many stocks in the broader market their time in the sun
▼ + stars: | 2024-07-11 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

However, most stocks were up with about 6 to 1 advancers to decliners on the New York Stock Exchange. The reverse happened Thursday as those stocks became a source of funds to buy the rest of the market, especially the housing stocks, solar stocks, real estate stocks, utilities, cyclical, and small caps. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. Traders work on the floor of the New York Stock Exchange (NYSE) on July 11, 2024 in New York City.

Persons: Jim Cramer, Russell, Banks, Wells, Morgan Stanley, Jim Cramer's, Jim, Spencer Platt Organizations: CNBC, Nasdaq, New York Stock Exchange, Meta, Palo Alto Networks, Big Tech, FedWatch, CPI, PPI, JPMorgan, Citigroup, Jim Cramer's Charitable, Traders, Getty Locations: decliners, Wells Fargo, New York City

☆ Thursday was a historically strange day in the stock market. That may be good news
▼ + stars: | 2024-07-11 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Wall Street saw a dramatic shift in market trends on Thursday, with winning and losing stocks swapping places for a day. The Russell 2000 small-cap index, which has struggled to find its footing all year, jumped more than 3% on Thursday. Thursday was just the second day since 1979 when the Russell 2000 rose more than 3% while the S&P 500 declined. The Nasdaq Composite underperformed the Russell 2000 by more than 5 percentage points in what appears to be biggest daily gap on record. "Today's an important day," Ed Yardeni of Yardeni Research said on CNBC's "Closing Bell.

Persons: Russell, Ed Yardeni, Jerome Powell Organizations: Nvidia, Apple, Nasdaq, Investment Group, Pfizer, Yardeni Research, Federal Reserve

We've compiled everything you need to know about how to buy UFC 304 tickets. UFC 304 will see Leon Edwards and Belal Muhammad fight for Edwards' welterweight champion title, following their 2021 UFC Fight Night bout that ended in no contest after Muhammad sustained an eye injury, leaving him unable to continue. Below, we'll show you everything you need to know about how to get UFC 304 tickets. How to buy UFC 304 ticketsOriginal standard UFC 304 tickets are sold through Ticketmaster. The cheapest original standard UFC 304 tickets start at £255.70, which comes to about $328.39.

Persons: it's, We've, Leon Edwards, Belal Muhammad, Edwards, Muhammad, Tom Aspinall, Curtis Blaydes, Blaydes, Aspinall, Bobby Green, Paddy Pimblett, Muhammad Mokaev, Manel Kape, Arnold Allen Organizations: Business, UFC, Ticketmaster, Vivid Locations: Manchester, England

☆ French quant firm Capital Fund Management is expanding in the US. Its president tells us where the $15.3 billion manager sees opportunities.
▼ + stars: | 2024-07-10 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +4 min

Read previewDespite its French headquarters, Capital Fund Management has long been connected to the US. Advertisement"There's no way around the US" as a quant fund, he explained, which use a vast amount of data and historical trends to inform computer-driven investment strategies. Alternative managers have turned to the private wealth channel for capital increasingly in recent years, mostly driven by large private equity firms like Blackstone, Apollo, and KKR. Tiger cubs like Tiger Global and Coatue have had long-standing relationships with JPMorgan's private wealth unit. Quant funds operate in a similar fashion, he said, and the firm thinks this can be translated to a broader audience than just longtime hedge-fund allocators.

Persons: —, Philippe Jordan, Jordan, Stifel, Blackstone, Bobby Jain's, Goldman Sachs, Morgan Stanley, there's Organizations: Service, Capital Fund Management, Business, CFM, Stratus, Apollo, KKR, Products, Abu, Abu Dhabi Investment Authority, UBS, HSBC, Bloomberg Locations: New York, Chicago, London, America, Paris, Louis, Abu Dhabi

☆ Gold rangebound with spotlight on U.S. inflation reading
▼ + stars: | 2024-07-10 | by ( ) www.cnbc.com time to read: +2 min

Gold traded in a narrow price range on Wednesday as investors looked forward to a key U.S. inflation reading that could shed more light on the Federal Reserve's interest rates trajectory. Gold traded in a narrow price range on Wednesday as investors looked forward to a key U.S. inflation reading that could shed more light on the Federal Reserve's interest rates trajectory. Spot gold rose 0.2% to $2,367.79 per ounce by 0229 GMT. Non-yielding bullion's appeal tends to shine when interest rates are lower. That may weigh on gold, which could see prices fall back towards the $2,300 level of support," Yeap said.

Persons: Gold, Jerome Powell, Powell, Yeap Jun Rong, Yeap Organizations: Traders, Global, Gold Locations: U.S, Europe, Asia

Donors often operate behind the scenes and, according to sources, have grown increasingly anxious about Biden’s candidacy following his halting debate performance last month. CNN reached out to the Biden campaign for comment. In the immediate wake of Biden’s debate performance, organizers paused conversations on planning the fundraiser until after the July 4 holiday to allow the dust to settle. A spokesperson for the Biden campaign told CNN the event was not affiliated with their official fundraising schedule. Donors elsewhere in the country have told CNN their events are on hold until Biden’s path is clearer.

Persons: Joe Biden’s, Biden, George Clooney, Clooney, Nancy Pelosi’s, Pelosi, MSNBC’s, Joe ”, ”, he’s, Donald Trump, “, ” Biden, hasn’t, It’s, That’s, Phil Murphy’s, Terry McAuliffe, Damon Lindelof, Joe Biden, I’m, ” Lindelof, ’, Maggie Kulyk, ” Kulyk, Kulyk, Barack Obama, Joe “, wasn’t, ” Clooney, John Morgan, “ I’m, They’ve, Morgan, ” Morgan, it’s, “ I’ve, Peter Lowy, Lowy Organizations: Washington CNN, CNN, MSNBC, Democratic, Republican, New Jersey Gov, Gov, Democratic National Convention, House, Women, Northern California —, Biden, Democratic National Committee Locations: Hollywood, Virginia, Chicago, Windy City, “ Washington, Austin, Denver, California, Laguna Beach, Northern California, Florida, Washington

☆ AI Is Quietly Being Used to Pick Your Pocket With Personalized Pricing
▼ + stars: | 2024-07-09 | by ( Albert Fox Cahn | ) www.businessinsider.com time to read: +10 min

Under the long-standing law, companies can face ruinous penalties for price discrimination only if they're discriminating against other businesses. Tyler Le/BII say low-grade shock because at the time personalized pricing discrimination was far less widespread and harmful than it is today. And many of those that don't disclose using personalized pricing still do it. AI pricing also means that those who are the most desperate and most vulnerable will often pay the most. So much of AI pricing acts as a regressive tax, charging those with the most the least.

Persons: I'm, I'd, Robinson, Tyler Le, Price, Uber, might've, it's, you've, Tinder, Nikolas Guggenberger, Guggenberger Organizations: American Prospect, Walmart, Smart, Mozilla, Consumers International, University of Houston Law Center, Zephyr Locations: London, United States

☆ What the Mood Is Like in France After Surprise Election Results
▼ + stars: | 2024-07-08 | by ( Catherine Porter | ) www.nytimes.com time to read: 1 min

“And now, what do we do?” blared the front page headline of Le Parisien, a daily newspaper, as the shock of Sunday’s election results began to sink in. The day after a historic election, France awoke to final results that none of the polls had predicted. The left-wing coalition’s New Popular Front took the most seats in the National Assembly, but nowhere near enough to form a government, followed by President Emmanuel Macron’s centrist coalition, which lost scores of seats. Finally, in third place, was the party that pollsters and pundits alike had expected to lead — the far-right National Rally. Now the question gripping the country was who would govern France, and how.

Persons: Le Parisien, Emmanuel Macron’s Organizations: National Assembly Locations: France

☆ School's out, and parents' financial stress is in
▼ + stars: | 2024-07-08 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

Speaking of money and vacations: In today's big story, summer vacation means financial stress for parents looking to keep their kids busy while school is out without breaking the bank . The big storyThe cost of summeriStock; Rebecca Zisser/BISchool's out for summer, but the relief for kids is causing financial pain for their parents. Further complicating things is most camps don't cover the two-plus months parents need to fill for their kids. The result is sometimes a patchwork system of camps and part-time nannies that parents need to cobble together. AdvertisementThis year, skincare products proved to be a lightning rod for kids and parents at elite summer camps , writes BI's Anna Silman.

Persons: —, Rebecca Zisser, Juliana Kaplan, Madison Hoff, Kate Dehler, BI's Anna Silman, Anna, You've, Goldman Sachs, it's, Alyssa Powell, Gen, Vladimir Putin, Narendra Modi, Dan DeFrancesco, Jordan Parker Erb, Jack Sommers, Annie Smith, Grace Lett, Amanda Yen Organizations: Service, Business, Karma, Hindenburg Research, Adani, Bank of, Samsung, Indian, The Locations: What's, Al, Florida, Russian, New York, London, Chicago

☆ RNC panel approves new Trump-backed platform softening abortion and same-sex marriage language
▼ + stars: | 2024-07-08 | by ( Kristen Holmes | Daniel Strauss | ) edition.cnn.com time to read: +2 min

CNN —The panel charged with crafting and producing a platform for the Republican National Committee has adopted a scaled-back document that softened language on abortion and same-sex marriage, Donald Trump’s campaign announced Monday. The new party platform, which was quickly approved Monday by the RNC platform committee, reflects the former president’s broader policy agenda on a range of issues as the presumptive Republican nominee continues to reshape the party in his third run for the White House. Trump approved the updated platform earlier in the day, a source familiar with the matter told CNN. The new platform does not mention a national abortion ban, a policy some social conservatives wanted to see included, but which the former president has publicly said he opposes. The platform will be taken up at the full party convention, which begins in Milwaukee next week.

Persons: Donald Trump’s, Trump, Roe, Wade, ” Organizations: CNN, Republican National, RNC, Republican, White, SBA, America, Social Security Locations: United States, Milwaukee

☆ A key part of America’s economy has shifted into reverse
▼ + stars: | 2024-07-07 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

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

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