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☆ Stock futures open lower as investors await inflation data, earnings this week: Live updates
▼ + stars: | 2024-07-07 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Stock futures edged lower Sunday night as investors await key inflation data for further clues on the longevity of this year's market rally. S&P futures were down more than 0.1%, while futures tied to the Dow Jones Industrial Average lost 51 points, or 0.1%. Producer price index data will be released Friday. Last week, labor data reflected a slightly cooling labor market, spurring expectations of a rate cut. A slew of major banks, including Citigroup and JPMorgan Chase , will kick off second-quarter earnings season this week.

Persons: Greg Wilensky, Janus Henderson, JPMorgan Chase, Stocks, Dow Organizations: Dow Jones Industrial, Nasdaq, Federal, Traders, Janus, Janus Henderson Investors, Citigroup, JPMorgan, PepsiCo, Delta Air Lines, Nvidia Locations: U.S

In this next term, I’m going to make sure we got to — straighten out the tax system. STEPHANOPOULOS: The number of Americans who think you’re too old to serve has doubled since 2020. STEPHANOPOULOS: I’ve — I’ve questioned him and his allies as persistently as any journalist has. We have — I mean, I’m not seen what you’re — you’re proposing. He may bring me down, he may.”STEPHANOPOULOS: Mr. President, I’ve never seen a president 36 percent approval get re-elected.

Persons: Biden, George Stephanopoulos, GEORGE STEPHANOPOULOS, BIDEN, Nancy Pelosi, you’ve, I’m, You’ve, I’ve, ”, “, who’ve, what’s Biden, George, — BIDEN, —, “ You’re, Walter Reed, Madeleine Albright, Netanyahu, They’ll, ” BIDEN, Putin, it’s, I’d, Donald Trump, You’re, It’s, he’s, you’re, That’s, “ That’s, hadn’t, Nothing’s, They’re, Trump, — I’ve, oth, Hoover, Mark Warner, We’ve, Mark’s, Chuck Schumer, Hakeem Jeffries, “ We’re, Jim Clyburn, they’re, Almighty, “ Joe, ” I’d, Almighty’s, Hakeem, “ Oh, what’s, I’ll, George . Organizations: ABC, The New York Times, National Security Council, New York Times, The Washington Post, Street, NATO, Big Pharma, BIDEN, Putin, AUKUS, Senate, CBS Poll, NBC, Electoral College, Washington Post, Democratic Party, House Democrats, Senate Democrats Locations: Europe, Camp David, North Carolina, —, Georgia, The, England, Pacific, Ukraine, South Korea, United States, It’s, New York, China

☆ Here are 3 major reports that could drive the stock market in the week ahead
▼ + stars: | 2024-07-06 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Three of the four big money center banks report this coming Friday, including Club name Wells Fargo . Economic data : The June consumer price index (CPI) is out on Thursday morning, and the June producer price index (PPI) is out on Friday morning. Earnings season : Within the portfolio, net interest income (NII) guidance is going to be a key watch item when Wells Fargo reports its quarter this coming Friday. However, other factors like muted loan demand have prevented Wells Fargo from raising its outlook this year. Wells Fargo – and our other bank name Morgan Stanely – both passed, indicating they have strong capital positions with excess money to return to shareholders.

Persons: May's, You'll, Wells, Michael Santomassimo, Morgan Stanley, We're, Wells Fargo, Morgan Stanely –, JPMorgan Chase, Jim Cramer's, Jim Cramer, Jim, Beata Zawrzel Organizations: Dow Jones Industrial, Nasdaq, Apple, Broadcom, Club, Meta, Energy, Constellation Brands, Corona, Modelo, Federal Reserve, Manufacturing, PMI, Fed, Wells, PPI, CPI, PepsiCo, Delta Air Lines, DAL, Conagra Brands, JPMorgan, Citigroup, Jim Cramer's Charitable, CNBC, U.S, New York Stock Exchange, Nurphoto, Getty Locations: Wells Fargo, FactSet, Wells, Wells Fargo –, New York, United States, America

☆ Inflation will be in focus in the week ahead as stocks attempt to sustain all-time highs
▼ + stars: | 2024-07-05 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

Some key inflation readings in the week ahead could bolster the case for a September interest rate cut, as investors deliberate how long stocks can sustain their rally to record highs. After a rocky start to the year, a recently improving inflation picture has investors hopeful the Federal Reserve could soon start to lower rates. Stubborn inflation patches The June consumer price index is expected to show a slight improvement in the headline number. In May, for example, shelter inflation rose 0.4% on the month and 5.4% on the year, while other key items declined. Monday, July 8 3 p.m. Consumer Credit (May) Tuesday, July 9 6 a.m. NFIB Small Business Index (June) Wednesday, July 10 10 a.m. Wholesale Inventories final (May) Thursday, July 11 8:30 a.m. Consumer Price Index (June) 8:30 a.m.

Persons: nonfarm payrolls, Mark Malek, FactSet, there's, Ross Mayfield, Baird, Mayfield, David Kelly, CNBC's, Wells, Price, JPMorgan Chase Organizations: Reserve, Dow Jones, Nasdaq, CPI, PPI, FactSet, University of Michigan, Asset Management, Citigroup, JPMorgan Chase, PepsiCo, Delta Air Lines, Consumer Credit, Treasury Budget, Air Lines, Conagra, JPMorgan, Bank of New York Mellon Locations: U.S, Wells Fargo, Michigan, Fastenal

☆ Want to cash in on the AI boom? Buy these 2 lesser-known stocks, portfolio manager says
▼ + stars: | 2024-07-03 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +2 min

Carey, a portfolio manager at the U.S.-headquartered investment advisory firm which manages around $4 billion, estimates that returns from AI will be across "multi-years [and] decades." AI companies have a very, very large moat, not only on the hardware side, but also, on the software side. Among the names Carey is bullish on is power management company Eaton . Shares of the U.S. power management company have had a bumpy ride over recent days, but remain up nearly 30% year-to-date and 54.4% in the last 12 months. He noted the "strong demand" for the small-cap's packaged solutions and products.

Persons: Carnegie Investment Counsel's Christopher Carey, Carey, Eaton, Powell Organizations: Carnegie Investment, Nvidia, Amazon, Microsoft, Broadcom, Powell Industries Locations: U.S

LONDON — European stocks closed higher Wednesday, as sentiment remains on edge ahead of two major elections. The index provisionally closed 0.8% higher, with most sectors in the green led by mining stocks, up 2.3%. Maersk shares ticked 3.8% higher after the shipping giant withdrew from sales talks with logistics firm DB Schenker. It comes as figures showed softening in the U.S. labor market. ADP data showed less private payroll growth than expected in June, while weekly jobless claims numbers came in higher than forecast.

Persons: Vincent Clerc, Jerome Powell Organizations: Maersk, DB Schenker, Labour Party, Reuters, U.S, Federal Locations: France, Asia, Pacific, U.S

☆ A growing club led by Xi and Putin to counter the US is adding a staunchly pro-Russia member
▼ + stars: | 2024-07-02 | by ( Nectar Gan | ) edition.cnn.com time to read: +8 min

After adding Belarus, it will boast 10 members, representing more than 40% of the world’s population and roughly a quarter of the global economy. Growing ambitionsAs the SCO grows in international visibility and economic weight, it has also broadened in geopolitical ambitions. Putin speaks to Xi at the SCO summit two years ago in Samarkand, Uzbekistan. But the Belarus membership also creates big question marks that will hang over the organization, Gill said. After the summit in Astana, China is due to take up the rotating presidency of the SCO for a year.

Persons: Xi Jinping, Vladimir Putin, Narendra Modi, Moscow’s, ”, “, Eva Seiwert, Seiwert, Putin, Xi, Sergei Bobylev, Bates Gill, Gill, –, ” Gill, Modi, they’re Organizations: Hong Kong CNN —, Shanghai Cooperation Organization, Indian, SCO, Union, Mercator Institute for China Studies, ”, Putin, AP, National Bureau of Asian Research, “, Central, Modi, Astana –, Kremlin, Central Asia, NATO, European Union, Seven Locations: Hong Kong, China, Russia, Russian, Ukraine, Belarus, Astana, Kazakhstan, Beijing, Moscow, United States, Iran, Kyrgyzstan, Tajikistan, Uzbekistan, India, Pakistan, Afghanistan, Mongolia, Myanmar, Turkey, Berlin, “, Eurasia, Samarkand, Central Asia, New Delhi, Soviet, Xi’an

☆ Euro zone inflation eases to 2.5% as core print misses estimate
▼ + stars: | 2024-07-02 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

watch nowHeadline inflation in the euro area dipped to 2.5% in June, the European Union's statistics agency said Tuesday, while the closely watched core and services prints held steady. Core inflation, excluding the volatile effects of energy, food, alcohol and tobacco, stayed at 2.9% from the prior month, narrowly missing the 2.8% economists had forecast. Investors will now parse what the latest data means for the trajectory of interest rates in the 20-nation euro zone, following the European Central Bank's initial 25 basis point cut in June. Volatility in the consumer price index has long been expected this year, as choppy base effects from the energy market unwind. In June, year-on-year energy inflation in the euro zone was 0.2%, a sharp switch from earlier in the year when the sector had a strong disinflationary pull.

Persons: Luis de Guindos, CNBC's Annette Weisbach Organizations: Reuters, Inflation, Investors, Central, Tuesday, ECB, Central Banking Locations: Sintra , Portugal

☆ 10-year Treasury yield climbs as investors look to data in week ahead
▼ + stars: | 2024-07-01 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

The 2-year Treasury yield was last more than two basis points higher to 4.7453%. U.S. Treasury yields were higher on Monday as investors awaited key economic data due this week and digested the latest inflation insights. Investors considered the latest economic data and looked ahead to insights from the labor market expected this week. Further insights about the state of the economy are expected this week, when a series of labor market data is due. Should the numbers indicate an easing of the labor market, hopes for interest rate cuts could be boosted.

Persons: Dow Jones, ADP's Organizations: Treasury, U.S, Investors, Federal Reserve

☆ Work is getting really weird
▼ + stars: | 2024-07-01 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

The big storyBizarro workplaceLorenzo Matteucci for BILet's be honest: Work has gotten really weird. Workers hiring shadow stand-ins can be unqualified for their jobs, overwhelmed, greedy, or just lazy. Shadow stand-ins are typically paid a fraction of the salary earned by the actual employee. One employee also described to Rob struggling to deal with a shadow stand-in's sub-par work and eventually "firing" them. Getty Images; Alyssa Powell/BIMeanwhile, the people who are doing all the work themselves are having a tough time getting any recognition.

Persons: —, Lorenzo Matteucci, Rob Price, Rob, Alyssa Powell, BI's Aki Ito, Roaring Kitty, Bain, Chris Miller, Greg Peters, Ted Sarandos, Peters, Chelsea Jia Feng, Coach's, David Rosenberg, Donald Trump's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Grace Lett, Annie Smith, Amanda Yen Organizations: Service, Business, BI, Super, Facebook, Workers, Corporations, Getty, GameStop, McKinsey, Taiwan Semiconductor Manufacturing Company, Netflix, Walgreens, CVS, Rite, Wimbledon Locations: Chicago, India, Pakistan, China, Taiwan, New York, London

☆ Election Updates: Democrats use the weekend to help Biden get back on track after debate.
▼ + stars: | 2024-06-30 | by ( Maggie Astor | ) www.nytimes.com time to read: +7 min

President Biden knew immediately after stepping off the stage in Atlanta on Thursday night that the debate had gone wrong. In those first stricken moments after a raspy, rambling and at times incoherent performance, he turned to his wife, Jill Biden. “I really don’t know what he said at the end of that sentence,” Mr. Trump said when Mr. Biden blundered an answer on immigration. They acknowledge her unique influence and power in his life, but they say Mr. Biden is in control of his own campaign. But as long as Mr. Biden wants to run, advisers say, she will support him.

Persons: Biden, Jill Biden, Biden’s, They’d, they’ve, doesn’t, ”, Elizabeth Alexander, —, Jill, Valerie, John Morgan, Donald J, Trump, “, Ms, Alexander, Kamala Harris, Joe, Dr, ’, you’ve, Camp David, Mr, Hunter Biden, gingerly, Joe Biden, Harriet M, Hageman, Drudge, Matt Drudge, JILL, ” Ms Organizations: Democratic, Democratic Party, “, Camp, White, Republican, Mr Locations: Atlanta, foxholes, Manhattan, Wyoming, New York

☆ Biden’s family encourages him to stay in the race as they discuss whether top advisers should be fired
▼ + stars: | 2024-06-30 | by ( Mj Lee | Jeff Zeleny | ) edition.cnn.com time to read: +4 min

CNN —Joe Biden’s family on Sunday encouraged the president to stay in the 2024 race and privately discussed whether top aides should be fired on the heels of Biden’s stunningly poor debate performance, which has thrown his campaign into turmoil. Biden’s family, including first lady Jill Biden, son Hunter Biden and their grandchildren, convened at Camp David for a previously scheduled get-together and implored the president to keep fighting in his bid for reelection, Biden advisers told CNN. Biden, however, is known for being loyal to and protective of his close advisers, and does not like to fire aides. The admiration and support that Biden’s family showed the president Sunday mirrored the first lady’s effusive public praise for her husband in recent days. The opinion of Biden’s family would be crucial in determining his political future – even more so than the president’s famously insular inner circle of top advisers.

Persons: Joe Biden’s, Jill Biden, Hunter Biden, Biden, Donald Trump –, preemptively, –, Donald Trump, Annie Leibovitz, John Morgan, Anita Dunn, Bob Bauer, “ Biden, ” Morgan Organizations: CNN, Camp, Democratic, Biden, Camp David Locations: Atlanta, Florida

☆ Trump campaign pushes for pared-down GOP platform as allies fret over abortion stance
▼ + stars: | 2024-06-29 | by ( Steve Contorno | ) edition.cnn.com time to read: +4 min

CNN —Top advisers to Donald Trump are plotting an overhaul of the Republican Party platform that will dramatically slash its size and refocus the GOP around the former president’s agenda for a second term. A memo from Trump campaign managers Chris LaCivita and Susie Wiles dated Thursday criticized past platforms as too long and too heavily influenced by special interests and outside groups. A “clear, concise and easily digestible” platform will be easier for voters to understand and harder for political opponents to attack, they wrote. Trump’s campaign is especially aware of how Democrats have weaponized the GOP platform in the past and is seeking to avoid a lengthy document full of potential landmines for the former president to navigate. Already, Trump this year has ousted the party’s previous chair, Ronna McDaniel, and installed close allies atop the GOP — his daughter-in-law Lara Trump and North Carolina GOP leader Michael Whatley.

Persons: Donald Trump, Chris LaCivita, Susie Wiles, Trump’s, ”, Wiles, Trump, LaCivita, ” LaCivita, Ronna McDaniel, Lara Trump, Michael Whatley, Randy Evans, Russell Vought, Ed Martin, Phyllis Schlafly Eagles Organizations: CNN, Republican Party, Trump, “, The New York Times, Republican National Convention, Social Security, GOP, North, North Carolina GOP, Conservative, SPAN Locations: reapproved, Washington, Milwaukee, North Carolina, Luxembourg

☆ Election Updates: Biden looks to reassure donors and supporters at events this weekend.
▼ + stars: | 2024-06-29 | by ( Chris Cameron | Simon Levien | ) www.nytimes.com time to read: +7 min

☆ Insider Today: Delta's bougie new lounge
▼ + stars: | 2024-06-29 | by ( Joi-Marie Mckenzie | ) www.businessinsider.com time to read: +7 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. On the agenda:This story is available exclusively to Business Insider subscribers. The highly anticipated lounge — which comes in at nearly 40,000 square feet — offers high-class perks like a wellness center, terrace, and full-service restaurant. BI's reporter got a tour, and says it's the best lounge of its kind. AdvertisementMore of this week's top reads:The Insider Today team: Joi-Marie McKenzie, editor in chief of life, in New York.

Persons: —, Tyler Le, Lisa, Nicole, Malorie, bearable, Emily Stewart, BI's Madison Hoff, Ayelet Sheffey, Ben Wigert, Amy Hardison, She's, Bryan Johnson, Hardison, Gareth Cattermole, playbook Taylor Swift, Travis Kelce, It's, Taylor Swift, Taylor Rains, John F, Kate Dehler, niacinamide, Abanti Chowdhury, Celine Dion, Rebecca Zisser, Joi, Marie McKenzie, Jordan Parker Erb, Dan DeFrancesco, Lisa Ryan, Grace Lett, Amanda Yen Organizations: Service, Business, Creative, Air Lines, Kennedy International Airport, BI, Hulu, realtors, Shark Locations: newsrooms, New York City, London, New, Manhattan, New York, Chicago

☆ 'He must bow out': the media reacts to Biden's historically bad debate performance
▼ + stars: | 2024-06-28 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +6 min

Read previewPresident Joe Biden's historically bad debate performance on Thursday night was received so poorly that there's serious talk among America's commentariat that he could, or should, or needs to be replaced. AdvertisementLiz Peek, also writing for Fox News, described Biden's performance as shocking the nation and as "an astonishing disaster." It started with a devastating line: "The best that can be said of Joe Biden's stumbling debate performance was that it took place in June." Noah Smith, the American blogger, also offered a bleak assessment of the debate performance. AdvertisementAnd podcaster Joe Klein did not mince his words in his summary of Biden's debate performance.

Persons: —, Joe Biden's, Biden's, Brian Stelter, Biden, Thomas L, Friedman, Prez, Mark Penn, Joe, Liz Peek, Joe Biden, Stephen Collinson, KDAhZx2jyB, Molly Ball, Ball, Peggy Noonan, Ed Luce, pollster Nate Silver, what's, Noah Smith, Trump, Joe Klein Organizations: Service, Business, CNN, New York Times, The New York, Biden, Trump, Washington Post, Fox News Fox News, Fox News, CNN Politics, Street Locations: Afghanistan, Pakistan, Lisbon, York, Washington Post The Washington, ,

☆ Fed and European Central Bank could cut interest rates in September, Morgan Stanley strategist says
▼ + stars: | 2024-06-28 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

U.S. Federal Reserve Chair Jerome Powell delivers remarks during a press conference following the announcement that the Federal Reserve left interest rates unchanged, in Washington, U.S., June 12, 2024. The U.S. Federal Reserve and European Central Bank could move to cut interest rates in September as key data provides further signs that inflation is cooling in the U.S. and the euro zone, a Morgan Stanley strategist said Friday. "We're more optimistic that both the Fed and ECB will cut rates in September," he told "Squawk Box Europe." And I think, for the Fed, inflation is continuing to fall," he added. A majority of economists polled by Reuters now anticipate the Fed will cut interest rates from its current range of 5.25% to 5.50% this September, with a further trim projected later in the year.

Persons: Jerome Powell, Morgan Stanley, Andrew Sheets, Sheets Organizations: Federal, Federal Reserve, U.S . Federal Reserve, European Central Bank, CNBC, Fed, ECB, Reuters Locations: Washington , U.S, U.S, Europe

What do they do about their candidate for president, and their campaign to beat Donald Trump? Michelle Goldberg: I think Biden has to get out. As you know, I’ve been arguing since 2022 that he’s too old to run for re-election. But recently, when people have asked me about it, I’ve wondered, is it too late? And I think that’s rapidly becoming the consensus not just among panicky pundits, but among senior Democrats.

Persons: Patrick Healy, I’ve, Biden’s, Kamala Harris, Biden, ”, Donald Trump, Michelle, Michelle Goldberg, Hakeem Jeffries, “, Healy, Bret, “ Biden, It’s Organizations: Democratic National Convention, Associated Press, Biden, America, Democratic

☆ 'Biden stumbles, Trump lies': How the global media reacted to the presidential debate
▼ + stars: | 2024-06-28 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +3 min

Members of the media work during the first presidential debate with US President Joe Biden and former US President Donald Trump in Atlanta, Georgia, US, on Thursday, June 27, 2024. U.K.: 'Biden struggles ... Trump lies'In the U.K., the Guardian pointed to issues with both Biden and Trump at the debate, headlining its story: "Biden struggles to land lines as Trump lies in first presidential debate." Meanwhile, the BBC suggested Biden struggled with Trump's attacks, titling its live blog of the debate: "Biden stumbles in first presidential debate as Trump avoids key questions." Biden struggled repeatedly and Trump repeated falsehoods, it said, adding that the debate was "marked by personal attacks." In another story, the newspaper summarized the debate: "Biden disgraces himself, Trump wastes his chance, but the true losers of the first TV debate in the U.S. election campaigns are the Americans."

Persons: Joe Biden, Donald Trump, Eva Marie Uzcategui, China's CGTN, Biden, hesitantly, Trump, Joe Biden's, stammered, Trump's, Biden's, Biden disgraces Organizations: Bloomberg, Getty, China Global Television Network, China Morning Post, Global Times, Biden, BBC, ZDF, CNBC, Trump Locations: Atlanta , Georgia, China, India, Trump, London, Germany, U.S, France

☆ Key Fed measure shows inflation rose 2.6% in May from a year ago, as expected
▼ + stars: | 2024-06-28 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

May marked the lowest annual rate since March 2021, which was the first time in this economic cycle that inflation topped the Federal Reserve's 2% target. An important economic measure for the Federal Reserve showed Friday that inflation during May slowed to its lowest annual rate in more than three years. Including food and energy, headline inflation was flat on the month and also up 2.6% on an annual basis. Outside of the inflation numbers, the Bureau of Economic Analysis report showed that personal income rose 0.5% on the month, stronger than the 0.4% estimate. Shelter-related costs have proven stickier than Fed officials have anticipated and have helped keep the central bank from reducing interest rates as expected this year.

Persons: Dow Jones, Seema Shah Organizations: Dow, Commerce Department, Federal, Asset Management, Gross, Atlanta Fed Locations: PCE

The debate between Donald J. Trump and President Biden had analysts in Asia fretting. During Thursday night’s debate, President Biden told former President Donald J. Trump that the United States is the “envy of the world.”After watching their performance, many of America’s friends might beg to differ. In Europe and Asia, the back-and-forth between the blustering Mr. Trump and the faltering Mr. Biden set analysts fretting — and not just about who might win the election in November. Image Mr. Biden leaving the debate stage. Kasit Piromya, Thailand’s foreign minister from 2008 to 2011 and a former ambassador to the United States, lamented the state of American politics.

Persons: Donald J, Trump, Biden, ”, fretting —, ” Simon Canning, ” Sergey Radchenko, Vladimir Putin, Xi Jinping, “, Putin, “ I’ve, Mr, Kenny Holston, François Heisbourg, Trump’s, “ I’m, Heisbourg, Radoslaw Sikorski, Marcus Aurelius, Commodus, Sikorski, Joe Biden’s, Donald Trump, Joe Biden, Daniela Schwarzer, Bogdan Butkevych, “ Trump, Chan Heng Chee, Ms, Chan, Lee Byong, ’ ”, Koichi Nakano, Haiyun Jiang, Narendra Modi, Tara Kartha, —, Shen Dingli, don’t, Kasit, Damien Cave, Lee Wee, Choe Sang, Vivian Wang, Camille Elemia, Mujib Mashal, Ségolène Le Stradic, Marc Santora Organizations: Johns Hopkins School, International Studies, —, Mr, Russia, New York Times, Trump, Bertelsmann Foundation, Washington , D.C, Credit, Kremlin, Kyiv Independent, Biden unnerves, Institute for Far Eastern, Kyungnam University, Sophia University, The New York Times, Washington, National Security Council of, ”, Weibo Locations: Asia, Australian, United States, Europe, Australia, Washington, Russia, China, North Korea, Ukraine, Lebanon, Iran, Israel, Japan, South Korea, Gaza, Jerusalem, France, Washington ,, American, Ukrainian, North, Seoul, “, United, Tokyo, The New York Times India, National Security Council of India, New Delhi, Beijing, India, Communist, Shanghai, U.S, Southeast Asia

☆ Stock market today: Indexes cap stellar first half of 2024 with losses even after encouraging inflation report
▼ + stars: | 2024-06-28 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

US indexes ended the day lower, despite market excitement over the latest PCE data. The stock market closed 2024's first half strongly, with the S&P 500 up nearly 15%. "The soft inflation data will build the case that the Fed can start cutting rates in the coming months," LPL Financial chief economist Jeffrey Roach said. Currently, futures markets are pricing in the odds of twoThe soft inflation reading was not enough to keep the indexes in the green through Friday, but the stock market still strongly closed out the first half of 2024. Could these be harbingers of weakness to come, or will they take over as market leaders in the second half?"

Persons: —, Jeffrey Roach, that's, David Morrison, Dow, Russell Organizations: Service, Federal Reserve, Financial, Here's

“Hard to watch” is how multiple foreign diplomats described Thursday night’s debate between Biden and Trump to CNN. I had difficulties understanding what he was saying, and I understand English pretty well,” said a second European diplomat. Biden’s debate flop was front-page news across Europe, with left- and right-leaning newspapers excoriating the president – even in France, where the country has its own elections coming up this weekend. “There are many options that are discussed, but we don’t see, any that are self-evident,” the first European diplomat said. Moscow’s state TV station, Russia 1, lampooned Biden’s debate performance.

Persons: Joe Biden’s, Donald Trump, Trump, Biden, ”, “ Trump, “, –, Vladimir Putin, Putin, ” Trump, Radek Sikorski, “ Marcus Aurelius, Commudos, didn’t, Kamala, Harris, Trump’s, Volodymyr, Zelensky, Biden pilloried, Joe’Matosed ”, “ Biden, Biden’s, Emmanuel Macron’s, Ansa, Russia’s, Olga Skabeeva laughingly Organizations: CNN, Biden, NATO, Democratic Party, ”, “, strongmen, Arab, Financial Times, Sun, Guardian, Monde, TV Locations: Europe, East, Asia, European, Arab, Asian, France, Russia, Ukraine, Russian, Afghanistan, Polish, California, Israel, British, Atlanta, Greece’s, Italy, Puglia

☆ Asia-Pacific markets rise as investors assess Japan economic data and await U.S. inflation reading
▼ + stars: | 2024-06-28 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets climbed on Friday as investors assessed key economic data out of Japan and awaited U.S. inflation reading due later in the day. The core inflation rate —which strips out prices of fresh food — rose to 2.1% from 1.9% in May. Tokyo inflation data is widely considered to be a leading indicator for nationwide trends. The country's industrial production grew 2.8% month on month in May, beating expectations of 2% from economists polled by Reuters. On a year-on-year basis, industrial production rose 0.3%.

Persons: April's Organizations: Reuters Locations: Asia, Pacific, Japan, Tokyo, South Korea, Korea

☆ Stock futures are little changed as investors await inflation data with end of second quarter looming: Live updates
▼ + stars: | 2024-06-27 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Stock futures are near flat Thursday night as traders await closely followed inflation data. Dow Jones Industrial Average futures slipped 36 points, or 0.1%. S&P 500 futures ticked up 0.1%, while Nasdaq 100 futures added 0.2%. In after-hours action, Nike shares slipped more than 12% after the athletic retailer cut its full-year guidance. Excluding volatile food and energy prices, the core PCE is forecast to come in 0.1% higher on the month and 2.6% on an annualized basis.

Persons: Foot Locker Organizations: New York Stock Exchange, Stock, Dow Jones Industrial, Nasdaq, Nike, PCE, Dow, Federal, Fed

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