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☆ Jupiter’s Great Red Spot is the oldest vortex in the solar system
▼ + stars: | 2024-06-22 | by ( Ashley Strickland | ) edition.cnn.com time to read: +7 min

CNN —Jupiter’s iconic Great Red Spot is a massive storm that has swirled within the atmosphere of the largest planet in the solar system for years. The Great Red Spot is a massive vortex within Jupiter’s atmosphere that is about 10,159 miles (16,350 kilometers) wide, which is similar to Earth’s diameter, according to NASA. Vincenzo Pinto/AFP/Getty ImagesWhile the first two scenarios resulted in cyclones, they differed in shape and other characteristics witnessed in the Great Red Spot. But the researchers believe that the persistent atmospheric storm cell, which resulted from intense wind instability, produced the Great Red Spot. Previous research, published in March 2018, has shown that the Great Red Spot is growing taller as it shrinks in size overall.

Persons: Giovanni Domenico Cassini, Ann Ronan, Cassini, ”, Agustín Sánchez, Lavega, “, updrafts, Donato Creti, Vincenzo Pinto, Michael Wong, ” Wong Organizations: CNN, Research, NASA, University of, Visitors, Vatican Museum, University of California Locations: Italian, Basque, Bilbao, Spain, AFP, Berkeley

☆ After almost 30 years, Amazon's original book business is booming, leaked document shows
▼ + stars: | 2024-06-20 | by ( Eugene Kim | ) www.businessinsider.com time to read: +9 min

This is according to a detailed internal document obtained by Business Insider that reveals a host of new information and insights about Amazon's book business and the broader publishing landscape. Reliable data on this industry is limited or tightly controlled, so it's sometimes difficult to get handle on the scope of the book business. "Monopoly power"Amazon's book business has drawn antitrust scrutiny over the years. The company doesn't publicly disclose book sales, nor does it give a revenue breakdown of each retail category. The US accounts for over half of the salesThe document reveals a few staggering numbers that show how big Amazon's book business is.

Persons: —, John Warren, George Washington University's, doesn't, Lindsay Hamilton, Noble, Warren, Hamilton Organizations: Service, Business, Amazon, Federal, American Booksellers Association, FTC, Justice Department, BI, GMS, Barnes, Costco, Pew Research Center, George Washington University Locations: Germany, Japan, France, Italy, Spain, Australia

☆ AI could become a lawyer's greatest help in the courtroom
▼ + stars: | 2024-06-20 | by ( Matthew S. Smith | ) www.businessinsider.com time to read: +8 min

Courtesy of Danielle BeneckeA lawyer's copilotFounded in 1949, Baker McKenzie has over 6,500 lawyers working in 70 offices worldwide. The firm's work building generative AI to produce legal draft advice for high-volume employment-law questions recently won an award from Law.com. Courtesy of Jake HellerAI won't replace lawyersThere's another fear likely to push lawyers toward AI: other lawyers. Lawyers might also turn to AI to address a force meant to tame AI: regulation. "I think in three to five years, not using AI for legal work will be tantamount to refusing to use online search for legal work today," Ziniti said.

Persons: Michael Cohen, Donald Trump, Cohen, isn't, Danielle Benecke, Baker McKenzie, Benecke, Cecilia Ziniti, It's, copilot, Ziniti, Cecilia Ziniti Ziniti, CoCounsel, CoCounsel isn't, Jake Heller, Thomson, Heller, they'd, it's Organizations: Google, Law.com, Federal Trade Commission, Microsoft, AI's, IBM, CoCounsel, Thomson Reuters, Times, American Bar Association

☆ How the ‘song of the summer’ became a cultural phenomenon
▼ + stars: | 2024-06-20 | by ( Harmeet Kaur | ) edition.cnn.com time to read: +12 min

And in an age where social media and streaming platforms have fragmented the cultural landscape, does the song of the summer even exist anymore? “It’s not like people were walking around in 1925 and saying, ‘You think that’s the summer song this year? New York Magazine’s 1995 Summer Fun issue devoted an article to examining the summer song as a unifying force — per the magazine, a summer song should be 1) released in the summer, 2) uncomplicated and 3) unforgettable. MTV’s Video Music Awards introduced a song of summer category in 2013, with One Direction’s “Best Song Ever” nabbing the inaugural award. Even as the song of the summer has become increasingly debatable, the idea that a single song could encapsulate a given summer continues to have a hold over our culture.

Persons: David Hajdu, “, ”, Hajdu, Phil Edwards, George Gershwin's, George Gershwin’s, Harry James ’, “ It’s, that’s, ’ ” Hajdu, Young, ’, ” Hajdu, Michael Ochs, Martha, Lovin, Sly, Stone, Robert Thompson, Ann Powers, Ricky Martin's, Frank Micelotta, ” Thompson, Thompson, gatekeepers, Vulture, Rolling Stone, It’s, Jason Lipshutz, Morgan, SZA, Armando L, Sanchez, Morgan Wallen’s “, Lipshutz, Miley Cyrus, Kylie Minogue, — Organizations: CNN, Day, Labor, Vox, Washington Post, Billboard, Beach Boys, Michael Ochs Archives, Vandellas, . Radio, Bleier Center for Television, Culture, Syracuse University . New, Bills, Backstreet Boys, Nielsen, American, Rolling, Social, Chicago Tribune, Tribune, Service Locations: America, Washington, Syracuse University . New York, “

☆ Bank of England set to hold interest rates despite inflation hitting 2% target
▼ + stars: | 2024-06-19 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

But the print only served to further convince traders that an interest rate cut is not imminent. Money market pricing by 11 a.m. in London implied just a 5% probability of a trim of the Bank Rate during Thursday's BOE meeting — after recording stronger odds of such a step earlier in the week. Policymakers are equally focused on services inflation, key to understanding domestic price pressures in the country's services-oriented economy, which came in at 5.7% — higher than the 5.5% forecast by economists in a Reuters poll. "I think the most disturbing thing lots of economists like myself are looking at right now is what's happening in services inflation. And those numbers have been proving a good deal stickier than we would like," Sproule said, with the BOE targeting services inflation of around 3%.

Persons: BOE, —, We've, James Sproule, CNBC's, Sproule Organizations: Bank of England's, Bank of Locations: London, Bank of England

☆ UK inflation is promising but upward pressure could return, strategist says
▼ + stars: | 2024-06-19 | 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 EmailUK inflation is promising but upward pressure could return, strategist saysAzad Zangana, senior European economist and strategist at Schroders, weighs in on the latest U.K. inflation print, and the outlook for price rises going forward.

Persons: Azad Zangana Locations: European

☆ UK inflation falls to Bank of England's 2% target ahead of elections
▼ + stars: | 2024-06-19 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

Shoppers on the high street in the Kingston district of London, U.K.U.K. inflation fell to the Bank of England's target of 2.0% in May, the Office for National Statistics said Wednesday, in the last print of the key economic measure ahead of national elections in July. The headline reading declined from 2.3% in April and came in line with the 2% expectations of economists polled by Reuters. Core inflation, excluding energy, food, alcohol and tobacco, dipped to 3.5% from 3.9% in April. Unseasonably bad weather led to the slowest increase in grocery sales in two years, new figures from U.K. market research firm Kantar showed Tuesday. Grocery sales rose 1.0% in the four weeks to June 9, marking the sixteenth consecutive monthly decline in food inflation, according to the index.

Persons: Sterling, BOE, Kantar Organizations: Bank of, National Statistics, Reuters Locations: Kingston, London, —

☆ Europe stocks set to open mixed as investors look ahead to Bank of England decision later this week
▼ + stars: | 2024-06-17 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

Commuters crossing a junction near the Bank of England (BOE), left, in the City of London, UK, on Wednesday, May 8, 2024. Photographer: Hollie Adams/Bloomberg via Getty ImagesLONDON — European markets are set to open mixed as investors attempt to shake off negative sentiment from last week and look ahead to the latest interest rate decision from the Bank of England. Investors are looking ahead to the Bank of England's policy rate decision on Thursday. In Asia-Pacific, markets were mixed on Monday as the region assesses key economic data out from China. U.S. stock futures were little changed on Monday morning as traders start a holiday-shortened week.

Persons: BOE, Andrew Bailey, Hollie Adams, Emmanuel Macron's Organizations: Bank of England, City of, Bloomberg, Getty, CAC, Bank of, Reuters Locations: City, City of London, Italy, Asia, Pacific, China . U.S

☆ The rise of STEM influencers: 3 top takeaways from a conference that serves as an annual science fair for YouTubers
▼ + stars: | 2024-06-17 | by ( Amanda Perelli | ) www.businessinsider.com time to read: +8 min

All of this, and more, took place last week at Open Sauce, the annual STEM conference for makers and content creators. It also featured three large exhibit halls filled with unique inventions created by students, engineers, makers, and content creators. The conference offered sessions from dozens of YouTube's top STEM creators, including Osman, Adam Savage, Mark Rober, Astro Alexandra, and Nile Red. Related storiesHere are three key takeaways from this year's Open Sauce:YouTuber and engineer Mark Rober on stage at Open Sauce. Some industry attendees said Open Sauce felt similar to the early days of VidCon, the largest annual creator industry conference, because of its smaller, community feel.

Persons: —, William Osman, Osman, Amjad Hanif, YouTube's, Paul Bakaus, Alessandra Catanese, Adam Savage, Mark Rober, Astro Alexandra, Rober, Bakaus, Amanda Perelli, Derek Muller Organizations: Service, YouTube, Business, Smosh, Creators, Investment, Partners Locations: Cow, San Francisco, VidCon

☆ U.S. sues Adobe over subscription plan disclosures
▼ + stars: | 2024-06-17 | by ( ) www.cnbc.com time to read: +1 min

Adobe headquarters in San Jose, California, US, on Thursday, Nov. 30, 2023. The U.S. government on Monday sued Adobe , accusing the maker of Photoshop and Acrobat of harming consumers by enrolling them in its most lucrative subscription plans without clearly disclosing important terms. In a complaint filed in the San Jose, California, federal court, the government said Adobe failed to adequately disclose hefty early termination fees, sometimes reaching hundreds of dollars, when customers sign up for "annual, paid monthly" subscription plans. The government said Adobe hides important terms in fine print and behind textboxes and hyperlinks, clearly discloses the fees only when subscribers try to cancel, and makes canceling an onerous and complicated process. Adobe did not immediately respond to a request for comment.

Persons: Adobe Organizations: Adobe, Monday Locations: San Jose , California, U.S

☆ My dad had impeccable style. After he died, I started wearing his clothes to remember him.
▼ + stars: | 2024-06-16 | by ( Lola Méndez | ) www.businessinsider.com time to read: +4 min

As I sorted his clothes with my mom and sister, we selected items to keep. My sister kept a denim jacket and my mother his boina. My father was a foot taller than me, and wearing his clothes makes me feel protected, as if he's hugging me. Grief and nostalgia often go hand in hand. I often see the pair of Keen sandals he wore, and every time, I'm hit by a wave of grief.

Persons: Gina Moffa, I've, Moffa, He'd, Keen, I'm Organizations: Service, Business, Uruguayan, Rolex Locations: Uruguayan, Uruguay, Luxor, Egypt, Mexico

☆ In a Digital Age, High-End Outdoors Magazines Are Thriving in Print
▼ + stars: | 2024-06-16 | by ( John Branch | ) www.nytimes.com time to read: +1 min

In an ordinary industrial building off a busy Orange County street, a Seussian contraption, nearly 100 feet long, clattered to life. The room filled with the hum and squeaks of belts and machinery. Like passengers on a dark amusement ride, bundles of colorful magazine pages, printed a week earlier, began a wild, circuitous journey, through tunnels and up ramps, that lasted a few minutes. The long edge of each new 130-page sheaf was dipped into a pool of melting glue, then dropped into a U-shaped cover. After drying during a series of slow corkscrews, the new magazine’s edges were chopped smooth by guillotines and emerged through an opening.

Persons: Stephen Casimiro, ” Casimiro, ” Organizations: Geographic, Adventure Locations: Orange County

☆ JPMorgan says this data security stock is a great pick for the second half with AI tailwinds
▼ + stars: | 2024-06-14 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Varonis Systems is poised to make a comeback in the latter part of 2024 as data security demand picks up, according to JPMorgan. Analyst Brian Essex upgraded the stock to overweight from neutral and set a December 2025 price target of $54, up from $50. Shares have dropped 6.7% this year as data security stocks saw a broader decline, creating a compelling buying opportunity for investors heading into the second half of the year, the analyst wrote in a Friday note. According to Essex, data security demand is rising as ransomware attacks are expected to increase, with a breach likely to happen every two seconds in 2031. "Although elevated levels of demand are driving growing levels of competition across the data security space, we view Varonis as one of the best positioned to capitalize on data security demand with a Best of Breed Data Security platform," the analyst added.

Persons: Brian Essex, Essex, Varonis, FactSet Organizations: JPMorgan, Data Security, 4Q, Cybersecurity Ventures, Companies, Breed Data Locations: Thursday's, Essex

☆ Stocks making the biggest moves premarket: Adobe, Hasbro, GameStop and more
▼ + stars: | 2024-06-14 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

GameStop — The meme stock dipped 1.1% after Keith Gill, known as "Roaring Kitty," seemingly increased his ownership in GameStop. He appears to be holding 9.001 million GameStop shares and over $6 million in cash, according to a screenshot he posted to Reddit. JPMorgan upgraded shares to overweight from neutral on Friday, saying Adobe is poised for "smoother sailing ahead" after its strong quarterly print. Hasbro — Bank of America upgraded the toymaker to buy from neutral, sending shares 1.7% higher. On the other hand, the company saw $727 million in revenue, topping the $725 million estimate from analysts.

Persons: Keith Gill, Adobe, RH, LSEG, ZScaler, Alex Harring, Michelle Fox Theobald Organizations: GameStop, Adobe, JPMorgan, Hasbro — Bank of America, Wall, Boeing, New York Times, Federal Aviation Administration, Zero Trust Network Security

☆ Stock market today: US stocks climb as wholesale inflation data shows big cooldown in prices
▼ + stars: | 2024-06-13 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

The producer price index slid 0.2% month over month against forecasts of a 0.1% decrease. Tesla stock jumped as Elon Musk said on X his pay package was headed for approval. AdvertisementUS stocks continued their rally to record highs on Thursday after investors took in another cooler-than-expected inflation print. In May, the producer price index slid 0.2% month over month against forecasts of a 0.1% decrease. Tesla stock jumped more than 6% as Elon Musk said on X that his $56 billion compensation package was headed for shareholder approval.

Persons: Stocks, Elon Musk, —, Clark, Bellwether, DealBook Organizations: Service, Bloomberg, PPI, Federal Reserve, Treasury, Vanguard, BlackRock, Here's

☆ Neither Biden nor Trump is seriously addressing the safety net crisis
▼ + stars: | 2024-06-13 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +9 min

“They’re both promising not to tackle the debt,” Ryan said, coming back to the issue that has animated his political career. Trump wants to extend all of the tax cuts, which could further explode the debt without corresponding spending cuts. When Trump and Republicans enacted the current tax structure, they made individual tax cuts temporary and most of the corporate tax cuts permanent. Biden has proposed additional taxes on those making more than $400,000 to address Medicare’s solvency, among other ideas, but does not have a detailed Social Security plan. The dirty little secret in all of this is, Medicare and Social Security are going insolvent on their own.

Persons: Donald Trump, Paul Ryan, he’ll, Trump, ”, Ryan, Republican –, “, ” Ryan, Sen, Mitt Romney, “ They’re, Joe Biden, Biden, Barack Obama, CNN’s Tami Luhby, What’s, won’t, Alan Greenspan, Obama, Republican Sen, Alan Simpson, Erskine Bowles Organizations: CNN, Trump, Republican, Fox News, Social Security, Democrats, Affordable, Biden, Republicans, Democratic, American, Treasury, Medicare, Fox, Federal, White House, National Commission Locations: Wisconsin, Trump, Luhby

The bank also raised its price target to $160 from $115, suggesting 18% upside from Wednesday's close. — Michelle Fox 7:59 a.m.: KeyBanc raises Netflix price target Netflix's growth isn't going to slow down any time soon, according to KeyBanc Capital Markets. — Pia Singh 7:23 a.m.: Bank America raises price target on Boeing Bank of America is weighing the challenges and opportunities Boeing has to make a turnaround. She kept her $38 price target, which implies shares could drop just slightly from its latest close. — Pia Singh 5:45 a.m.: Jefferies names Microsoft a top pick Microsoft is "going for AI gold," according to Jefferies.

Persons: Jefferies, Christine Cho, — Jesse Pound, Clark, Anna Lizzul, Kimberly, — Michelle Fox, Justin Patterson, Patterson, — Pia Singh, Ronald Epstein, Epstein, Oppenheimer, Ulta, Rupesh Parikh, Parikh, Morgan Stanley downgrades Corning, Corning, Morgan Stanley, Meta Marshall, Marshall, Tom O'Malley, O'Malley, AVGO, JPMorgan's Harlan Sur, Timothy Arcuri, Brent Thill, Fred Imbert Organizations: CNBC, Microsoft, Barclays downgrades NextEra Energy Partners, NextEra Energy Partners, Barclays, Bank of America, Clark Bank of America, KeyBanc, Markets, Netflix, Bank America, Boeing Bank of America, Boeing, Broadcom, VMware, Google, UBS, Jefferies Locations: Kimberly, F2H25

☆ Opinion: The complicated ethics of the secret Alito recording
▼ + stars: | 2024-06-12 | by ( Opinion David Zurawik | ) edition.cnn.com time to read: +6 min

CNN —As a journalist and professor who teaches media ethics, I have long been against the kind of undercover secret recording activist Lauren Windsor made of Supreme Court Justice Samuel Alito and his wife, as well as Chief Justice John Roberts. Join us on Twitter and FacebookWhat Windsor discovered does not tell me as much as ProPublica and The New York Times have about the secrecy and shocking lack of ethics in the Supreme Court. But she did make me think Alito is even farther to the religious right than I thought. But while the approach was similar, Maryland has a law against secret recordings; two-person consent is required. But she broke no law in taking us behind closed doors and a little further into the mind of Alito.

Persons: David Zurawik, Lauren Windsor, Samuel Alito, John Roberts, David Zurawik Mich Rouse, Alito, “, ” Alito, Windsor, James O’Keefe, Hannah Giles, ”, ethicist, Donald Trump Organizations: Goucher College, Baltimore Sun, CNN, Supreme, Project Veritas, ACORN, Journalists, Capitol, New York Times, Windsor, Catholic, The New York Times, Twitter, Facebook, Veritas Locations: Windsor, there’s, Baltimore, Maryland, Washington, DC

☆ China is now facing 'a tale of two economies': Morgan Stanley economist
▼ + stars: | 2024-06-12 | 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 EmailChina is now facing 'a tale of two economies': Morgan Stanley economistRobin Xing, chief China economist at Morgan Stanley, says the country's inflation print is a "great example" of the economy's "unbalanced growth."

Persons: Morgan Stanley, Robin Xing Organizations: China Locations: China

☆ Ernest Shackleton’s ‘last ship’ Quest found on ocean floor
▼ + stars: | 2024-06-12 | by ( Taylor Nicioli | ) edition.cnn.com time to read: +5 min

CNN —Shipwreck hunters have found the vessel Quest — once captained by renowned Antarctic explorer Ernest Shackleton — largely intact on the ocean floor, 15 nautical miles off the coast of Canada, the Royal Canadian Geographical Society has announced. Quest carries not only the history of his voyages, but potentially artifacts from expeditions that continued until 1962, when the vessel sank, experts say. Quest sank on May 5, 1962, after being crushed by ice in the Labrador Sea off of Canada, according to the news release. The Quest sank on May 5, 1962, after being crushed by ice in the Labrador Sea off of Canada. “He’s just an excellent example of a leader who made himself and his team capable of making the impossible possible.”It is noteworthy that a handful of men on Shackleton’s Quest expedition were also on Endurance’s expedition turned survival mission, Koehn said.

Persons: —, Ernest Shackleton —, Shackleton, Sir Ernest Shackleton, ”, John Geiger, “ Shackleton, David Mearns, Quest, Ernest Shackleton, ” Geiger, Mearns, “, Ernest Shackleton’s, Nancy Koehn, “ He’s, Koehn, we’re Organizations: CNN, Royal Canadian Geographical Society, Quest, South Atlantic, Central Press, Hulton, Harvard Business School Locations: Canada, Antarctica, Georgia, South, Rowett, Cape Town, South Africa, London, Norwegian, Labrador, Weddell, South Georgia

☆ Here are Wednesday's biggest analyst calls: Nvidia, Apple, Skechers, Tesla, GameStop, Birkenstock, Valvoline & more
▼ + stars: | 2024-06-12 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Morgan Stanley upgrades Ciena to overweight from equal weight Morgan Stanley sees "upside potential" for the networking company. Morgan Stanley downgrades Pure Storage to equal weight from overweight Morgan Stanley downgraded the stock mainly on valuation. Goldman Sachs downgrades Birkenstock to neutral from buy Goldman downgraded Birkenstock mainly on valuation. Wells Fargo initiates Skechers at overweight Wells said it's bullish on shares of the footwear company. Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's possible that Tesla could make a phone.

Persons: Piper Sandler, Piper, it's, Edward Jones, Morgan Stanley, Goldman Sachs, Birkenstock, Goldman, Wells, Wedbush, Needham, HAE, TD Cowen, Cowen, Tesla, Oppenheimer, Salesforce Organizations: Products, Devices, AMD, Paramount, Citi, DAR, Barclays, FI, GameStop, McCormick, Procore Technologies, UBS, Nvidia, hyperscalers, Bank of America, Apple, Fortinet Inc Locations: VVV

☆ European markets head for positive open ahead of Fed decision, U.S. inflation data
▼ + stars: | 2024-06-12 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

Traders work on the floor of the New York Stock Exchange during afternoon trading on June 03, 2024 in New York City. LONDON — European stocks are expected to open higher Wednesday ahead of the latest U.S. Federal Reserve decision and inflation reading. The U.K.'s FTSE index is seen 29 points higher at 8,169, Germany's DAX 36 points higher at 18,408, France's CAC 40 up 13 points at 7,803 and Italy's FTSE MIB up 66 points at 33,946, according to IG. Investors have grown increasingly concerned that the recent strong jobs report and sticky inflation support a higher-for-longer interest rate environment. U.S. stock futures hovered near the flatline Tuesday night, while Asia-Pacific markets were mixed as investors assessed inflation data from around Asia.

Persons: Germany's DAX Organizations: New York Stock Exchange, LONDON, Federal, CAC, IG, U.S Locations: New York City, Asia, Pacific

☆ My family of 4 moved to France. My child started school at age 3 and gets healthy meals for lunch.
▼ + stars: | 2024-06-11 | by ( Jane Ridley | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. My wife, Kristi, and I were inspired to move to France after watching a documentary about British people who'd relocated there. This story is available exclusively to Business Insider subscribers. Kids start school at 3The education system in France is superior. Do you have an interesting story about living away from your native country that you'd like to share with Business Insider?

Persons: —, Phil Coley, Kristi, who'd, Alicia, Haydn, pats, I've, they've Organizations: Service, Business, ex, pats Locations: France, Limoges, It's, —, French

☆ UK unemployment nears three-year high, wage growth firm as election looms
▼ + stars: | 2024-06-11 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

A staff wanted sign in the window of a restaurant in the Soho district of London, U.K., on Tuesday, Sept. 7, 2021. LONDON — U.K. unemployment unexpectedly rose to its highest level in two and a half years, data showed Tuesday, amid a heated general election campaign in which the economy is a key battleground. Simultaneous strong wage growth divided opinions from market-watchers mulling the timing of an interest rate cut from the Bank of England. While market pricing on Tuesday suggested next to no chance of a rate cut at the BOE's June meeting, and a 36% shot in August, that probability rises to nearly 60% for the September deliberations. Consultancy Capital Economics said that, while the stickiness of wage growth would be a "lingering concern" for the BOE, the rate should soon be on a "firm downward path" as unemployment rises.

Persons: Richard Carter, Cheviot, BOE, Capital's, Ruth Gregory, Rishi Sunak, Keir Starmer, Sunak, We've, it's, Starmer Organizations: LONDON, Bank of England, National Statistics, Reuters, Consultancy Capital Economics, Conservative Party, Labour, Conservatives Locations: Soho, London

☆ Stock futures are little changed ahead of Fed's rate decision, consumer inflation data: Live updates
▼ + stars: | 2024-06-11 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Stock futures oscillated near the flatline Tuesday night as investors awaited the Federal Reserve's interest rate decision and May's consumer inflation data. S&P 500 futures inched lower by 0.01%, while Nasdaq 100 futures were little changed. During Tuesday's trading, investors' rotation into Apple helped lift the S&P 500 and the Nasdaq Composite to fresh closing highs. Investors are looking to Wednesday's conclusion of the Fed's two-day policy meeting, which will feature an rate policy decision and a subsequent press conference with Fed Chair Jerome Powell. Investors have grown increasingly concerned that the recent strong jobs report and sticky inflation support a higher-for-longer interest rate environment.

Persons: Dow, Jerome Powell, Quincy Krosby Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Oracle, Google, Apple, LPL

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