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In front of a fire station in Palm Springs, Calif., residents crowded around a pit of sand on Saturday afternoon under gray clouds, using shovels to fill bag after bag. Every 15 minutes or so, a tractor would dump more sand in the pit. “I’m exhausted,” said Greg Tormo, a real estate agent, who had just finished filling 10 sandbags and was taking a break after carrying most of them to his car. “I’m gathering the energy to take the last three.”Although Mr. Tormo was grateful for his sandbags, he was worried about how effective they would be in protecting his home from flooding. “I think everyone is trying to do the right thing to prepare, but no one really knows what the right thing is,” he said.

Persons: I’m, ”, Greg Tormo, Tormo Locations: Palm Springs, Calif

☆ Hurricane Hilary expected to strengthen to Category 4 before weakening, dumping rain over California and Southwest US this weekend
▼ + stars: | 2023-08-18 | by ( Elizabeth Wolfe | ) edition.cnn.com time to read: +5 min

CNN —Hurricane Hilary is expected to intensify into a lashing Category 4 storm as it nears Mexico’s Baja Peninsula on Friday and then weaken over the weekend, bringing rain and flooding to parts of the Southwest US. The storm strengthened to a Category 3 hurricane Thursday evening and is likely to build into a powerful Category 4 on Friday, the advisory said. Southern swaths of California and Nevada could see 3 to 5 inches of rain with isolated amounts of up to 10 inches. Smaller amounts of 1 to 3 inches are expected across central parts of those states as well as across western Arizona and southwest Utah. Parched Southwest may see brief reliefAs the rainfall passes through the Southwest, it may help combat prolonged drought and recharge depleted groundwater.

Persons: Hilary, “, ” Daniel Swain Organizations: CNN, Southwest, National Hurricane Center, Southwestern, National Weather Service, National Oceanic, Atmospheric Administration, US Drought Monitor, University of California Locations: Peninsula, Cabo San Lucas, Mexico, Baja California Sur, California, Southwestern United States, Southern California, Nevada, Arizona, Utah, San Diego, Los Angeles, New Mexico, Valley , California, Death, floodwater

☆ Markets should brace for a turbulent few weeks as slow motion rate shock continues, DataTrek says
▼ + stars: | 2023-08-17 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

That's partly because the Fed is unlikely to stop its quantitative tightening regime. The Fed has reduced its balance sheet aggressively over the past year, which could weigh on stocks. As of last week, the Fed has already reduced its balance sheet around $700 billion from the first quarter of 2022, down to $8.2 trillion from $8.9 trillion. Aggressive balance sheet tightening was one of the factors that weighed heavily on stocks last year, with the S&P 500 shedding 20% to notch its worst performance since 2008. "The current slow-motion long-term rate shock has a way to go, in our view, and equity markets will struggle as it evolves.

Persons: DataTrek, Nicholas Colas, Colas Organizations: Fed, Service, Reserve, Treasury Locations: Wall, Silicon

☆ Automakers are facing an uphill battle as inventory piles up and workers threaten to go on strike
▼ + stars: | 2023-08-17 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

After a few years of smooth-sailing, Detroit automakers are coming up against several challenges. A possible UAW strike, supply chain hurdles, and inventory building up threaten carmakers' peace. The peace that Detroit automakers have had over the past several months is getting interrupted — and car buyers and investors should brace themselves. Between dealer tensions, a potential United Auto Workers strike, and parts makers struggling, automakers face a rough time ahead. Second, Detroit 3 union workers are gearing up for a strikeA strike could threaten those companies' success in the latter half of the year.

Persons: carmakers, COVID, Ford, Martin French, Kelley, Peter Maithel Organizations: UAW, Morning, Detroit, Dealers, United Auto Workers, Cox Automotive, Chrysler, Dodge, GM, GMC, Buick, EV, Ford, Deutsche Bank Locations: Detroit

☆ US stocks fall as Fed minutes show officials think hot inflation could still require more rate hikes
▼ + stars: | 2023-08-16 | by ( Max Adams | ) www.businessinsider.com time to read: +3 min

US stocks closed lower on Wednesday after Fed minutes showed officials remain worried about inflation. Markets have been confident in their belief that the July rate hike was the last of the Fed's cycle. "The Fed wants to talk tough on inflation, but it's obvious they are done with rate hikes. "The July 26 rate hike was most likely not a one and done as the latest round of data suggests." The Fed will have another inflation report and another jobs report to sift through before it makes another policy decision.

Persons: Jamie Cox, Quincy Krosby Organizations: Service, Reserve, Harris Financial, LPL, Fed, Dow Jones, Nasdaq Locations: Wall, Silicon

☆ TikTok influencers want to rent you a very cool home. Just don't call them landlords.
▼ + stars: | 2023-08-16 | by ( James Rodriguez | ) www.businessinsider.com time to read: +15 min

While live-in landlords are far from a novel concept, the pandemic-era fever around passive income and real-estate investing has sparked a rise in the popularity of house hacking. While Turner's initial strategy emphasized small multifamily buildings, some house hackers applied the concept to single-family homes. In 2019, he published a book called "The House Hacking Strategy: How to Use Your Home to Achieve Financial Freedom." And I think house hacking is one obvious way to eliminate, or at least drastically reduce, what likely is your largest expense." "Yeah, it's called 'house hacking," the owner and roommate, also played by Jarman, who has 4 million followers, replies.

Persons: Kelly Clark, Clark, scoffed, TikTok, Zers, Brandon Turner, Turner, Ryan Lehman, Lehman, Brandon, I'm, Craig Curelop, BiggerPockets who's, Curelop, influencer Addison Jarman, renter, it's, Jarman, Jay Parsons, John Liang, TikToker, Liang, —, It's, doesn't, Insider's Daniel Geiger, she'd, James Rodriguez Organizations: Federal Housing Administration, BiggerPockets, Census, YouTube, RealPage Locations: Spokane , Washington, Silicon, millennials, Seattle, Spokane

☆ Maui Wildfire Death Toll Climbs to 99 as Lahaina Residents Brace for More Victims
▼ + stars: | 2023-08-15 | by ( Alyssa Lukpat | Alicia A. Caldwell | ) 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/maui-fire-death-toll-lahaina-hawaii-f43c36bc

Persons: Dow Jones Locations: maui, lahaina, hawaii

People walk to a Royal Canadian Air Force transport plane while being evacuated from an approaching wildfire in Hay River, Northwest Territories, Canada August 14, 2023. “We are working closely with the Government of the Northwest Territories to ensure communities have the support they need," Canadian federal Emergency Preparedness Minister Harjit Sajjan said in a statement. Yellowknife is the capital of the Northwest Territories and sits 450 km (280 miles) south of the Arctic Circle. Over the weekend, residents of most communities in the South Slave region of the Northwest Territories, situated along the Alberta border, were ordered to evacuate. Northwest Territories has so far had 265 wildfires this year, much higher than its 10-year annual average of 185.

Persons: Harjit Sajjan, Rebecca Alty, Ismail Shakil, Jyoti Narayan, David Ljunggren, Alistair Bell Organizations: Royal Canadian Air Force, Canadian Forces, REUTERS Acquire, Canada's Northwest Territories, Government of, Emergency Preparedness, Northwest, CBC News, Thomson Locations: Hay River, Northwest Territories, Canada, City, Yellowknife Follow OTTAWA, Yellowknife, Alberta, Enterprise, Territories, Ottawa, Bengaluru

☆ Maui Wildfire Death Toll Climbs to 96 as Lahaina Residents Brace for More Victims
▼ + stars: | 2023-08-14 | by ( Alyssa Lukpat | Alicia A. Caldwell | ) www.wsj.com time to read: 1 min

Persons: Dow Jones Locations: maui, lahaina, hawaii

☆ US Steel receiving acquisition offers as company promises to maximize stockholder value
▼ + stars: | 2023-08-13 | by ( Jennifer Korn | ) edition.cnn.com time to read: +2 min

New York CNN —United States Steel Corp. (X) is considering a sale after fielding acquisition offers, according to a news release Sunday from the company. The steel producer is under a formal review process after “receiving multiple unsolicited proposals” for both specific assets and the entire firm, the release announced. The company and the rest of the domestic steel industry were supposed to get help from a 25% tariff on steel imports put in place in 2018 by the Trump administration. Prices retreated and problems returned to the industry thanks to stockpiling, as well as slowdowns in the auto, energy and construction sectors. The drop in demand, combined with the increased American production, caused a glut in supply and a sharp drop in prices leaving the steel industry hurting in the years since.

Persons: ” David Burritt, Goldman Sachs, Milbank, Wachtell, Lipton, Katz, Donald Trump, Trump, we’ve, Burritt Organizations: New, New York CNN — United States Steel Corp, “, Steel’s, CNN, Barclays Capital, Rosen, US Steel Corp, US Steel Locations: New York, China

☆ Ronaldo wins first title at Al-Nassr with brace in Arab Club Champions Cup final
▼ + stars: | 2023-08-12 | by ( ) www.reuters.com time to read: +2 min

Aug 12 (Reuters) - Cristiano Ronaldo guided 10-man Al-Nassr to their first ever Arab Club Champions Cup title after scoring twice in a 2-1 extra-time win over fellow Saudi side Al-Hilal on Saturday. The tournament is played by top Arab clubs in the region and included teams from Saudi Arabia, Qatar, the United Arab Emirates, Iraq, Morocco, Tunisia and Algeria. The star-studded Al-Nassr side had many chances to score in the first half with close season signings Sadio Mane, Seko Fofana and Marcelo Brozovic all denied by goalkeeper Mohammed Alowais. To rub salt into their wounds, the 27-year-old even produced the Ronaldo goal celebration as he ran to the corner flag and leapt into the air. Ronaldo then doubled the lead in the first half of extra time when he pounced on a rebound off the crossbar and headed home with the goalkeeper off his line.

Persons: Cristiano Ronaldo, Nassr, Ronaldo, Sadio Mane, Seko Fofana, Marcelo Brozovic, Mohammed Alowais, Hilal's Malcom, Michael, Sultan, Ghannam, Abdulelah Al, Amri, Nawaf Boushal, Angelica Medina, Rohith Nair Organizations: Saudi, Saturday, Saudi Pro League, United Arab, King Fahd Sports City, Portugal, Al, Thomson Locations: Al, Hilal, Saudi Arabia, Qatar, United Arab Emirates, Iraq, Morocco, Tunisia, Algeria, Sultan Al, Mexico City, Bengaluru

☆ Haaland back in the groove with double as Man City win at Burnley
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +3 min

Haaland, who bagged a Premier League season-record 36 goals and a total of 52 in all competitions for treble winners City last season, slotted his side in front after four minutes. POACHER'S GOALHaaland's opening goal was a typical poacher's effort, pouncing to jab a shot past goalkeeper James Trafford after Rodri headed a De Bruyne cross back into the area. Burnley recovered from that early setback quite well and almost punished City for some sloppiness when Lyle Foster curled a shot past the far post. The second half was a lessen in game management by City who were content to run the legs out of Burnley. Haaland was substituted late on while City also offered a late cameo to new defensive signing Josko Gvardiol.

Persons: Erling Haaland, Haaland, Kevin de Bruyne, Rodri, Vincent Kompany, Anass Zaroury, Kyle Walker, Craig Pawson, Guardiola, James Trafford, Lyle Foster, De Bruyne, Mateo Kovacic, Julian Alvarez teeing, Josko Gvardiol, City's Rico Lewis, Martyn Herman, Ken Ferris Organizations: City Rodri, Turf Moor City, Premier League, BURNLEY, Manchester City, Burnley, Turf, City, Champions League, Thomson Locations: England, Norwegian, Burnley, City's

☆ US stocks fall as investors brace for July CPI report
▼ + stars: | 2023-08-09 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

US stocks traded mixed on Wednesday as investors awaited the July CPI report. Markets are hoping cooler inflation will push the Fed to end its rate hike campaign. August has been a tough month so far for stocks, with the summer rally losing steam. Investors are hoping that cooler inflation data could influence the Federal Reserve to end its rate hike campaign, which would likely be a boon for stocks. In the meantime, investors have their eye on The Walt Disney Company, which is set to report earnings after the closing bell.

Persons: Dow Jones Organizations: Service, Cleveland, Investors, Federal Reserve, Walt Disney Company Locations: Wall, Silicon

☆ Treasury yields are little changed as investors brace for inflation print
▼ + stars: | 2023-08-09 | by ( Jenni Reid | ) www.cnbc.com time to read: 1 min

U.S. Treasury yields were flat Wednesday, as investors prepared for key inflation data later this week and digested diverging commentary from Federal Reserve officials on the path of rates. ET, the yield on the 10-year Treasury was down by less than 1 basis point at 4.016%. The 2-year Treasury was steady at 4.758%. Yields and prices have an inverted relationship. One basis point equals to 0.01%.

Organizations: Treasury, Federal Reserve

☆ France coach Renard says pressure will be on Australia in quarter-finals
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +2 min

France cruised into the quarter-finals with an easy 4-0 win over Morocco in Tuesday's last-16 match. "We're hoping to put Australia through exactly what France went through when they were the host country in 2019." France played Australia less than a month ago, a 1-0 loss to the Matildas on July 14th in Melbourne in their last game before the World Cup kicked off. There's nothing to fear here, but we will respect Australia because Australia has a lot of qualities." "I remember in 2016 when the women's team was actually set up.

Persons: Herve Renard, Carl Recine ADELAIDE, Les Bleues, Renard, We're, Eugenie Le Sommer, Kadidiatou Diani, Kenza Dali, Corinne Diacre, you've, Morocco's, Lori Ewing, Christian Radnedge Organizations: Soccer Football, FIFA, World, REUTERS, Australia, France, Morocco, French, Hindmarsh, Morocco's men's, Moroccan, Thomson Locations: New Zealand, France, Morocco, Adelaide, Australia, Tuesday's, United States, Paris, Melbourne, Sydney

☆ Le Sommer scores brace in France's 4-0 last-16 win over Morocco
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +2 min

Kadidiatou Diani's fourth goal of the tournament, a header in the 15th minute, sparked an eight-minute three-goal Les Bleues blitz, with Kenza Dali and Le Sommer also scoring at Hindmarsh Stadium, ending the North African side's fairytale run. Le Sommer increased her all-time leading goalscoring record for France to 92, while the game marked the first time Les Bleues had scored four goals in a World Cup knockout game. Le Sommer was able to get a boot on the ball for her first goal in the 23rd minute after Diani pressured a Moroccan defender. This World Cup marked the first time three African nations made the last 16 in Morocco, South Africa and Nigeria. Nouhaila Benzina had also made history as the first player to wear a hijab in the Women's World Cup.

Persons: Eugenie Le Sommer, Vicki Becho, Carl Recine ADELAIDE, Kadidiatou, Kenza Dali, Le Sommer, Les Bleues, Khadija, Dali, Diani, Nouhaila Benzina, Le, Lori Ewing, Christian Radnedge Organizations: Soccer Football, FIFA, debutants, Hindmarsh, Australia, South, Panama, Lyonnais, France, Thomson Locations: New Zealand, France, Morocco, Adelaide, Australia, debutants Morocco, Brisbane, Germany, South Korea, Colombia, Moroccan, South Africa, Nigeria, Sydney

Containers are seen at the Yangshan Deep-Water Port in Shanghai, China October 19, 2020. REUTERS/Aly Song/File PhotoAug 8 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. China's July trade data top a heavy regional economic calendar on Tuesday, with current account, bank lending and household spending reports from Japan, current account data from South Korea and Australian consumer sentiment also on tap. But for the world's manufacturing and factory engine, focus is on the alarming weakness in exports. At -54.7, it is at its 'highest' level since June 30, but will soon be heading lower again if Tuesday's trade data disappoint.

Persons: Aly, Jamie McGeever, swatted, John Williams, Dow, Japan's Organizations: REUTERS, Wall, Treasury, New, Nasdaq, Equity, Nikon, Mazda, Thomson, Reuters Locations: Shanghai, China, Asia, Japan, South Korea, Beijing, U.S, Australia

☆ Gold off 3-week lows as investors brace for U.S. inflation data
▼ + stars: | 2023-08-07 | by ( ) www.cnbc.com time to read: +2 min

Gold prices dipped on Monday as the U.S. dollar climbed ahead of U.S. inflation data this week. Still, bullion was off three-week lows after slowing U.S. job growth knocked bond yields from their recent highs. Markets also took stock of labor department data showing solid wage gains and a decline in the unemployment rate that suggested continued tightness in labor market conditions. Data on U.S. consumer prices, due on Thursday, will be in focus to assess whether more rate hikes are needed to tame inflation. Non-yielding gold is often sought as a safe investment against inflation but tends to lose its sheen when rates rise.

Persons: Yeap Jun Rong, Edward Meir Organizations: U.S, Treasury, IG, Fed, U.S . Locations: Moscow, U.S

☆ Kerr expected to return as Australia brace for Denmark test
▼ + stars: | 2023-08-06 | by ( ) www.reuters.com time to read: +2 min

Australia's place in the tournament was on the line in their final group game against Olympic champions Canada, and they stepped up to win 4-0 and top Group B. Caitlin Foord said Australia will need that same intensity against Denmark. "That (Canada) game was do or die for us and this is the exact same," Foord said. "We need to bring everything that we brought to the Canada game to put us in the best spot to get the result we need to move forward." Australia have played Denmark twice since coach Tony Gustavsson took charge, losing 3-2 in 2021 and winning 3-1 last year. "We're going to have our own party if we succeed in ruining a party, and that part is fine by me," Denmark coach Lars Sondergaard said.

Persons: Sam Kerr, Kerr, Caitlin Foord, Foord, We'll, Tony Gustavsson, Danes, Lars Sondergaard, Keira Walsh, Randy Waldrum, Hritika Sharma, Ed Osmond Organizations: SYDNEY, Star, Ireland, Olympic, Canada, Denmark, England, Thomson Locations: Australia's, Denmark, Sydney, France, Morocco, Australia, Canada, Brisbane, Nigeria, Hyderabad

☆ Bonmati scores brilliant brace to lead Spain into quarter-finals
▼ + stars: | 2023-08-05 | by ( ) www.reuters.com time to read: +2 min

The Spaniards will now play the winner of Sunday's round of 16 game between the Netherlands and South Africa. The 20th-ranked Swiss matched their best World Cup finish. They also bowed out in the round of 16 in their only other World Cup appearance in 2015. Spain finished second in Group C, beating Costa Rica and Zambia by a combined 8-0 before being run ragged in a surprise 4-0 loss to Japan on Monday. Bonmati netted her second in the 36th minute with some exquisite footwork that sent two defenders and keeper Gaelle Thalman the wrong way.

Persons: Switzerland's Lara Marti, Spain's Ona Batlle, David Rowland AUCKLAND, Aitana Bonmati, Bonmati, Alba, Laia Codina, Jenny Hermoso, Cata Coll, Jorge Vilda, Maria Rodriguez, Codina, Ona, Redondo, Gaelle, Hermoso, Gaelle Thalmann, Lori Ewing Organizations: Soccer Football, FIFA, Spain, La Roja, Swiss, C, Roja, Thomson Locations: New Zealand, Switzerland, Spain, Eden, Auckland , New Zealand, Spain's Ona Batlle REUTERS, Netherlands, South Africa, Costa Rica, Zambia, Japan, Coll, Swiss, Redondo, Hermoso, Sydney

☆ Spain thrashes Switzerland at Women’s World Cup despite bizarre own goal, while Japan beats Norway
▼ + stars: | 2023-08-05 | by ( Ben Morse | ) edition.cnn.com time to read: +5 min

Women’s World Cup 2023: Live scores, fixtures, results, tables and top scorersCNN —Spain overcame a bizarre long-range own goal to thrash Switzerland 5-1 and advance to the Women’s World Cup quarterfinals on Saturday, while Japan continued to impress in a 3-1 victory over Norway. Ingrid Syrstad Engen’s own goal gave Japan a well-deserved lead early on before Norway equalized soon after through Guro Reiten’s header. On paper, Norway – a team with world-class talent – looked a tricky opponent but Japan was comfortably the better side throughout. Alessandra Tarantino/APAda Hegerberg came on as a substitute in an attempt to provide Norway with some attacking thrust – but the Norwegians struggled to break down an organized Japan team. Even when it created a good opening, it found Japan goalkeeper Ayaka Yamashita in inspired form as she somehow clawed away Karina Sævik’s powerful header in the game’s dying moments.

Persons: CNN —, Laia Codina’s, Bonmatí, Ingrid Syrstad Engen’s, Risa Shimizu’s, Hinata Miyazawa, Japan's, Amanda Perobelli, –, Codina’s, Codina, Cata Coll, Saeed Khan, Gaëlle Thalmann, Redondo, bamboozling, Jennifer Hermoso, Aurora Mikalsen, – Shimizu, Vilde Bøe Risa, old’s, Miyazawa’s, Alessandra Tarantino, Ada Hegerberg, Ayaka Yamashita, Karina Sævik’s Organizations: CNN, Japan, Norway, New Zealand –, Roja, Switzerland, Getty, Alba Redondo, Norway –, Aurora Locations: CNN — Spain, Switzerland, Japan, Norway, Spain, Wellington, Netherlands, South Africa, Sweden, Melbourne, Eden, New Zealand, AFP, Reiten’s

☆ Oceans temperatures soared to the highest level on record this week
▼ + stars: | 2023-08-04 | by ( Laura Paddison | ) edition.cnn.com time to read: +3 min

But what’s clear, she said, is “that current sea surface temperatures are exceptionally and unseasonably warm” and bringing wide-ranging implications, “especially for complex ecosystems such as coral reefs.”Gregory C. Johnson, an oceanographer at NOAA, said sea surface temperatures have soared this year. Surface temperatures tend to remain high from August through to September before starting to decline, said Johnson. “There’s still room to have warmer sea surface temperatures” this year. In the Florida Keys, a marine heat wave has pushed ocean temperatures to record-breaking, “hot tub” levels, leaving multiple coral reefs now completely bleached or dead. Some scientists are concerned that the ocean temperature records set this year could mark the start of an alarming trend for ocean heat.

Persons: El Niño, Kaitlin Naughten, Copernicus, ”, Gregory C, Johnson, “ There’s, –, Samantha Burgess, “ We’ve, ” Johnson Organizations: CNN, Antarctic Survey, Oceanic, NOAA, North Atlantic, Ireland Locations: Florida, North, North Atlantic

☆ Typhoon Khanun eases off Japan's Okinawa, but islands brace for return
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +2 min

A screengrab from a handout video shows an aftermath of a typhoon along a street in Nakagami, Okinawa Prefecture, Japan August 3, 2023. TOKYO, Aug 4 (Reuters) - Typhoon Khanun barely moved on Friday in the East China Sea, with predictions that it will approach Japan's Okinawa islands again, raising fears of sustained damage in areas already battered by heavy rain and strong winds over the past two days. In northern Taiwan, land warnings were lifted on Friday and businesses and schools that were shut on Thursday due to the typhoon reopened. In the capital Taipei, more than 200 trees and street signs were downed, but no major damage was reported. Reporting by Satoshi Sugiyama in Tokyo; Additional reporting by Yimou Lee in Taipei; Editing by Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

Persons: Khanun, Satoshi Sugiyama, Yimou Lee, Sonali Paul Organizations: Yuma Nagahama, REUTERS, TOKYO, Japan Meteorological Agency, Okinawa Electric, Naha Airport, Authorities, Thomson Locations: Nakagami, Okinawa Prefecture, Japan, Yuma, Handout, East China, Okinawa, Okinawa's Miyako, Japan's, Naha, Taiwan, Taipei, Tokyo

☆ Morning Bid: Markets brace for BOE as China PMI cheers
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +3 min

The BOE is leaning toward a 25 basis point hike after the inflation gods took some pity on the UK last month. Investors and economists will be sure to inspect the BOE's growth and inflation forecasts for indications of just how sticky the central bank thinks inflation has become. Not to be overshadowed by monetary policy, earnings reports roar back into focus on Thursday with Apple (AAPL.O) at the forefront. China kicks off a long line of PMI releases today with better-than-expected services activity, giving markets a bit of good news after disappointing data on Monday. In Japan, the stock market continued to feel the drag from U.S. chip firms on Thursday morning, with the Nikkei (.N225) seeing broad-based losses.

Persons: Hollie Adams, Brigid Riley, BOE, Jerome Powell isn't, hasn't, Stryker, Fed's Barkin, Jacqueline Wong Organizations: Bank of England, City of, REUTERS, Bank of, CPI, Reuters Graphics, ECB, Apple, Moderna, PMI, HK, Nikkei, Royce, Infineon, Adidas AG, BMW, Fed's, Thomson Locations: City, City of London, Britain, United States, China, Japan, U.S, Expedia, France, Italy, Sweden, Spain, Germany, Euro

☆ A veteran chartmaster warns stocks will crash 11% from their peak as the remarkable market rally loses steam — but these 7 investments look destined for further gains
▼ + stars: | 2023-08-03 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

US stocks have defied all odds this year, and the market rally only strengthened in July. After two months of nearly nonstop gains for the S&P 500, a long-time chartmaster warns that the weakness that markets displayed in early August is just the beginning. As expected, the S&P 500 rallied after October when that headwind passed, and finished 2022 with a bang. Charts that Keller studies also indicate that this market rally has reached its late innings. Exchange-traded funds (ETFs) tracking those sectors include the Energy Select Sector SPDR Fund (XLE), the Financial Select Sector SPDR Fund (XLF), the Industrial Select Sector SPDR Fund (XLI), and the Materials Select Sector SPDR Fund (XLB).

Persons: David Keller, Keller, chartmaster, Stocks, headwind, Brace, we've, StockCharts.com, Keller doesn't Organizations: Energy, P Oil & Gas Exploration, Production, Commodities

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