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☆ Analysis: What Putin got from his North Korea visit
▼ + stars: | 2024-06-19 | by ( Clare Sebastian | ) edition.cnn.com time to read: +5 min

CNN —Vladmir Putin’s first visit to North Korea in nearly a quarter of a century has been intensely scrutinized around the world. If this is a collective defense pact, does Russia’s nuclear deterrent now extend to North Korea’s and vice versa? “But definitely I would say this clause is very alarming.”Russia's President Vladimir Putin was given a rapturous welcome in Pyongyang. “The West admits terrible concern around Putin’s visit to North Korea” read the headline in Moskovsky Komsomolets, a national daily newspaper Tuesday. Russia also needs weapons to keep up its strategy of exhausting and destroying Ukraine into surrender.

Persons: Vladmir, Putin, Kim Il, ”, “, ” Putin, Korea’s, Kim, Jo Bee, yun, Vladimir Putin, Vladimir Smirnov, North Korea ”, Vladimir Solovyov, Kim Jong Organizations: CNN, International Criminal Court, Kremlin, Korea Institute for Defense, UN, Kim Jong UN Locations: North Korea, Russia, Ukraine, Pyongyang, China, United States, North, Moscow, Komsomolets

☆ UK inflation is finally back at 2%. Here’s why rate cuts are still ‘off the table’
▼ + stars: | 2024-06-19 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

That suggests the Bank of England won’t follow the European Central Bank in cutting interest rates when it meets Thursday. A rate cut in August, when UK policymakers meet next, is now also less likely. Other economists, including analysts at Nomura, thought an August rate cut was still possible if pay rises and the price of services cooled further. “For an August rate cut, we will need other economic news to play ball,” the analysts wrote in a note. UK inflation peaked at 11.1% in October 2022, driven to a 41-year high by surging food and energy costs.

Persons: ”, Zara Noakes, Rebecca Florisson, Jake Finney Organizations: London CNN —, Bank of, Bank of England, European Central Bank, JPMorgan Asset Management, Nomura, “ Workers, Work Foundation, Lancaster University, PwC Locations: United Kingdom, England, United States, Europe

☆ 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 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, —

☆ Caitlin Clark Is a Rorschach Test for Sports Fans
▼ + stars: | 2024-06-19 | by ( Lindsay Gibbs | ) www.businessinsider.com time to read: +9 min

But nothing that Clark does — or that is done to Clark — is treated as normal. That was just the latest bulletin in a months-long news cycle trailing everything Clark does. ESPN's Stephen A. Smith said WNBA players should go easier on Clark in games if they want to keep up record viewership: "Protect the golden goose." Related storiesThese days, watching Caitlin Clark play basketball has become a Rorschach test for a deeply divided country. Four years ago, WNBA players actually helped flip a Senate seat in Georgia.

Persons: Caitlin Clark, —, Clark, Clark —, Angel Reese, ESPN's Stephen A, Smith, Nikki Haley, Cathy Engelbert, Wilson, Michael Jordan Michael Hickey, she's, we've, Megan Rapinoe, Donald Trump, Brittney Griner, Matt Leinart, Reese, Pat McAfee, Eminem, Chennedy Carter, Carter, That's, I'm, Dijonai Carrington, Carrington vocalized, Emilee Chinn, Sabrina Ionescu, Breanna Stewart, A'ja Wilson, Clark Caitlin Clark, — infantilize, James Boyd Organizations: WNBA, Business, Chicago, CNN, Fox News, ESPN, Olympic, GOP, Chicago Sky, That's, Connecticut Sun, Getty, Black, Nike, The Locations: Iowa, Hollywood, Indiana, America, Georgia, Russia, Chicago, Washington ,, Connecticut

☆ Opinion | Why Israel Is in Existential Danger Today
▼ + stars: | 2024-06-18 | by ( Thomas L. Friedman | ) www.nytimes.com time to read: +2 min

On Nov. 4, 2022, just after the current far-right Israeli government coalition won election, I wrote a column with this headline: “The Israel We Knew Is Gone.” It was meant to be a warning flare about just how radical this coalition is. I believe events have proved them wrong — and the situation is now even worse: The Israel we knew is gone, and today’s Israel is in existential danger. Israel is up against a regional superpower, Iran, that has managed to put Israel into a vice grip, using its allies and proxies: Hamas, Hezbollah, the Houthis and Shiite militias in Iraq. Right now, Israel has no military or diplomatic answer. But Israel is led by a prime minister, Benjamin Netanyahu, who has to stay in power to avoid potentially being sent to prison on corruption charges.

Persons: Benjamin Netanyahu, — Organizations: West Bank, Palestinian Authority Locations: Israel, Iran, Iraq, Gaza, Lebanon, Oslo, Jordan

☆ Hardware is Wall Street's new favorite bet
▼ + stars: | 2024-06-17 | by ( Dan Defrancesco | ) 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. In today's big story, we're looking at the Apple-Google partnership that shows why hardware has become Wall Street's new favorite bet . The big storyHardware is hotGetty Images; Chelsea Jia Feng/BISoftware may still eat the world, but only with the help of some serious hardware. But generative AI has put a considerable spotlight on a less sexy part of tech: hardware. That's playing out in the stock market, where hardware tech stocks have outperformed software tech stocks by 30 percentage points this year , writes BI's Matthew Fox.

Persons: —, Chelsea Jia Feng, Marc Andreessen's, Hugh Langley, That's, BI's Matthew Fox, it's, Steve Schwarzman, Jon Gray, Brian Ach, Tyler Le, Andy Sieg, Merrill Wealth, Dan Sundheim, Chris Tuite, Trump, Elon Musk, hasn't, Jimmy Simpson, they're, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Annie Smith, Amanda Yen Organizations: Service, Elon, Apple, Business, Apple Intelligence, OpenAI, Google, Microsoft, Amazon, Oracle, Street, Nvidia, Broadcom, Blackstone, Merrill, D1 Capital, YouTube, Netflix, BI, Cannes Lions, advertising's Locations: That's, New York, London

☆ 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

☆ Meet the Professors Whose Porn Careers Cost Them Their Jobs
▼ + stars: | 2024-06-16 | by ( Hallie Lieberman | ) www.businessinsider.com time to read: +28 min

The porn videos had titles like "Juicy Anniversary" and "Bedroom Shenanigans." In search of a man for Wilson, Gow sought advice from his therapist, who suggested joining a swingers club. In the background, Video Gow is moaning "Oh yeah" as IRL Gow says, "I've always had some ED issues." As the video ends with the big finale — the money shot, as it's known in the industry — Video Gow stands above kneeling Video Wilson, arms outstretched. The termination letter said he had failed to properly report his income from the porn videos and had violated "prohibitions for using one's public position for private benefit."

Persons: Joe Gow, Carmen Wilson, Gow, isn't, " Gow, Wilson, Bruce Springsteen, we've, It's, I'm, Simone Lueck, BI Gow, hadn't, Wilson's, Nina Hartley, Danny Mountain, who'd, We've, Cal Berkeley, Lauren Phillips, Phillips, mischievously, We’ll, We'll, Barack Obama, Geri, Jay Hart, IRL Gow, I've, she'd, Barack Obama's, Hartley, Raymond Cross, Cross, Hartley dustup, Stills, —, Tony Tomich, Moberg doesn't, Gow's, demurely, Starr, Socrates, Eugene Volokh, Roe, Diane, wouldn't, aren't, They've, Wilson wouldn't, Hallie Lieberman, She's Organizations: University of Wisconsin, selfies, CNN, The, BI, UW, La, Sony, Higher, MIT, USC, Cal, Dickinson State University, Food Network, IRL, Dartmouth, La Crosse Tribune, La Crosse, University of, FTI Consulting, Easton Moberg, Press, Stanford, Court, eBay, Sssh.com Locations: La Crosse, London, India, Gaza, Gow, Rock, San Francisco, Wisconsin, Chicago, Los Angeles, North Dakota, Arizona, Communist China, City, San Diego

☆ What Mitch McConnell's truce with Trump means
▼ + stars: | 2024-06-15 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +7 min

Read previewFormer President Donald Trump and Senate Minority Leader Mitch McConnell have decided to play nice, again. According to reports at the time and since then, the longest-serving GOP Senate leader came close to voting to convict Trump of inciting the violence. Now, the longest-serving Senate leader in history, McConnell has said he will step down from the role after the election. AdvertisementAmid his pique, Trump pushed Sen. Rick Scott of Florida to challenge McConnell for the right to lead Senate Republicans. "Well, as the Republican leader of the Senate, it should not be a front-page headline that I will support the Republican nominee for president," McConnell said.

Persons: —, Donald Trump, Mitch McConnell, Trump, Kevin McCarthy, McConnell, McCarthy, Alex Burns, Jonathan Martin's, Biden, Sen, Mitt Romney, @realDonaldTrump, Ky, Tim Scott, Doug Mills, There's, Axios, he's, Marjorie Taylor Greene, Elaine Chao, Chao, Joe Biden, Rick Scott of, 5Z2RX4DTbI — Jonathan Swan, Jonathan Swan Organizations: Service, Capitol, Business, America's, Republican, GOP, Politico, National Republican, Democratic, Trump, US, Republicans, Senate GOP, Labor Locations: Trump, Utah, Milwaukee, Ukraine, Israel, Taiwan, Montana and Ohio, Georgia, Rick Scott of Florida

☆ A famed economist who called the 2008 recession shares 3 ways stocks resemble some of the biggest bubbles in history — and warns 2 'bona fide' recession signals showed up in May's jobs data
▼ + stars: | 2024-06-15 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

Investors are currently reveling in the 'better', as an ongoing eight-month melt-up once again pushed the S&P 500 to fresh highs this week. But sooner or later, the 'worse' will come, warns David Rosenberg, the founder of Rosenberg Research, who famously called the 2008 recession while working as Merrill Lynch's chief economist. AdvertisementAnother sign the market is out over its skis is the performance divergence between the market cap-weight and the equal-weighted S&P 500 indexes. On June 12, the Dow underperformed the S&P 500 by 0.94%, one of only 71 trading days since 1982 where that's happened, according to Rosenberg's technical analysis consultant, Walter Murphy. AdvertisementIn addition to concerning market technicals, fundamentals could also be in a troubling place in the form of labor market weakness, Rosenberg said.

Persons: —, David Rosenberg, Merrill Lynch's, Rosenberg, Bob Farrell, Walter Murphy, Murphy, — Rosenberg, it's, Louis Fed, Piper Sandler Organizations: Service, Rosenberg Research, Business, Tech, Dow Jones, Dow, Nvidia, Microsoft, Apple, Federal Locations: lockstep

☆ The unloved stock market rally: Why so many investors find it hard to embrace this run to records
▼ + stars: | 2024-06-15 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

The S & P 500 has made an all-time high on nearly thirty days this year, four of them this past week. The main S & P is up more than 3% in the second quarter while its median stock is off 5% quarter to date. .SPX mountain 2024-03-29 S & P 500 quarter to date The S & P 500 has added $5.5 trillion in market capitalization in 2024, with roughly half kicked in by the Big Three. Wall Street strategists as a group project no upside for the S & P 500 in the second half , their average and median targets both below Friday's closing level. The weekly American Association of Individual Investors survey shows the spread between bulls and bears narrowing lately even with the S & P grinding higher.

Persons: we've, FANG, That's, It's, Jerome Powell's, Chris Verrone, I've Organizations: Microsoft, Apple, Nvidia, Investment, Treasury, Federal Reserve, Citi U.S, CPI, Fed, American Association of

☆ Alex Jones’ personal assets to be sold to help pay Sandy Hook debt as judge decides Infowars’ fate
▼ + stars: | 2024-06-14 | by ( ) www.cnbc.com time to read: +6 min

A federal judge on Friday ordered the liquidation of conspiracy theorist Alex Jones′ personal assets and was still deciding on his company's separate bankruptcy case. Judge Christopher Lopez approved converting Jones' proposed personal bankruptcy reorganization to a liquidation. He was still set to rule on whether Jones' company, Austin, Texas-based Free Speech Systems, also should be liquidated. It wasn't immediately clear what will happen to Free Speech Systems, which is Infowars' parent company. If Free Speech Systems' case is dismissed, the company could return to the same position it was in after the $1.5 billion was awarded in the lawsuits.

Persons: Alex Jones, Infowars, Senate's Dirksen, Jack Dorsey, Jones, Sandy, Christopher Lopez, Sandy Hook, Chris Mattei, Jesse Lewis, — Organizations: U.S, Intelligence, Capitol, Elementary, Speech Systems, Free Speech Systems, Systems Locations: Washington , U.S, Austin , Texas, Austin, Texas, Newtown , Connecticut, Connecticut, Texas and Connecticut

☆ Taylor Swift's London Eras Tour could delay Bank of England rate cut, analysts say
▼ + stars: | 2024-06-14 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

Taylor Swift performs on stage during during "Taylor Swift | The Eras Tour" at Anfield on June 13, 2024 in Liverpool, England. LONDON — Taylor Swift's record-shattering Eras Tour is continuing to supercharge consumer spending as it enters it U.K. leg, suggesting that the Bank of England may not be out of the woods yet in its fight against inflation. The Bank of England is expected to soon begin lowering its Bank Rate from a 16-year high of 5.25%, with all but two of 65 economists polled by Reuters anticipating a cut in August, while financial markets are pricing in September. However, a possible clash between one of Swift's August tour dates and a key inflation index day could skew the data enough to make the bank rethink its path, the analysts said. "A surge in hotel prices then could be material, temporarily adding as much as 30bps to services inflation (+15bps on headline)," Krishnan and Rossiter wrote.

Persons: Taylor Swift, Taylor, BoE, Lucas Krishnan, James Rossiter, Krishnan, Rossiter Organizations: Anfield, Bank of England, Securities, MPC, Monetary, Reuters, CNBC Locations: Liverpool, England, London

☆ Treasury yields slide once again as traders weigh this week's U.S. inflation data
▼ + stars: | 2024-06-14 | by ( Katrina Bishop | ) www.cnbc.com time to read: +2 min

Yields and prices move in opposite directions and one basis point is equivalent to 0.01%. The 10-year Treasury yield was trading around 4.211% at 6:29 a.m. The 2-year Treasury note yield was down 1 basis point at 4.679%. U.S. Treasury yields fell again on Friday as data released this week pointed to easing inflation. Correction: A previous version misstated the magnitude of a decline in the 10-year Treasury note yield.

Persons: Henry Allen, — Jeff Cox Organizations: U.S, Treasury, Rabobank, Deutsche Bank, U.S . Federal, US, University of Michigan

☆ What is the ‘hot rodent’ trend, and how do men feel about it?
▼ + stars: | 2024-06-14 | by ( Leah Dolan | ) edition.cnn.com time to read: +4 min

It began, seemingly, with a few innocuous social media posts comparing Mike Faist, co-star of the titillating tennis throuple film “Challengers,” to a dormouse. No, he’s Stuart Little, if Stuart Little was hot. “How ‘hot rodent’ men became Hollywood’s sexiest heartthrobs: Gen Z fans are going wild for actors with unusual features including Barry Keoghan, Kieran Culkin and Jeremy Allen White,” read the headline. How do these men — heartthrobs of the moment, even — feel about being categorized as “hot rodents”? “It was clearly not meant as an insult and even though some people would take it as an insult, I mostly felt it was a way of saying that I was cute.”While by no means exhaustive, these responses suggest men feel mostly fine with the “hot rodent” trend.

Persons: Mike Faist, ”, he’s Despereaux, he’s Stuart Little, Stuart Little, Lucy Ford, Faist’s, Josh O’Connor, Barry Keoghan, Timothée Chalamet, Jeremy Allen White, Glen Powell, Kieran Culkin, —, Powell, Jimmy Fallon, “, ” stewart, dooney, “ She’s, Gustav Organizations: CNN, Daily Mail, New York Times, Guardian, London Times, NBC Locations: capybaras

☆ USA makes history in advancing to next stage of men’s T20 Cricket World Cup after game against Ireland is abandoned
▼ + stars: | 2024-06-14 | by ( Ben Morse | ) edition.cnn.com time to read: +1 min

CNN —The USA achieved a historic milestone after advancing to the next stage of the men’s T20 Cricket World Cup after its game against Ireland on Friday was abandoned due to a wet outfield, according to the International Cricket Council. It was a momentous point for USA, which saw its qualification for the Super 8 stage of the tournament confirmed, a remarkable achievement given the team is appearing in its first ever T20 World Cup. One of the co-hosts for the T20 World Cup, the USA opened up its campaign with a convincing victory over Canada and finishes its Group A stage on five points. The four teams in those two groups will play one another in a round-robin format, with the top two advancing to the semifinal stage. The Super 8 stage begins on June 19, with all 12 games in the second round of the T20 World Cup being played across four Caribbean islands in Antigua, Barbados, St. Lucia and St. Vincent.

Persons: St, Vincent Organizations: CNN, USA, Ireland, International Cricket Council, Pakistan, Canada Locations: Lauderhill , Florida, India, USA, Pakistan, Antigua, Barbados, St, Lucia

☆ Opinion: It’s ok to mock Biden and Trump for their age? Why that’s dangerous
▼ + stars: | 2024-06-13 | by ( Opinion Arick Wierson | ) edition.cnn.com time to read: +7 min

Editor’s Note: Arick Wierson is an Emmy Award-winning television producer and former senior media adviser to former New York Mayor Michael Bloomberg. The Guardian, for example, ran a headline, “Trump is too old and incited a coup. Yet any meaningful conversation about how we, as Americans, need to revisit our prejudices around age have been notably absent in this election. While the benefits are still unevenly distributed, new technologies continue to improve the quality of health care and Americans are once again living longer (after a slight dip during the pandemic.) Americans are not only living longer but better than ever before.

Persons: Michael Bloomberg, Read, ageism, Joe Biden, Donald Trump, “ Trump, Biden, Barack Obama, America’s, Trump Organizations: New York, CNN, Guardian, Los Angeles Times, . North Dakota, American Psychological Association, Fortune, Social Security Administration Locations: United States, America, Africa, . North

☆ Senate GOP blocks bill to guarantee access to IVF nationwide
▼ + stars: | 2024-06-13 | by ( Clare Foran | Ted | ) edition.cnn.com time to read: +5 min

CNN —Senate Republicans voted Thursday to block a bill put forward by Democrats that would guarantee access to in vitro fertilization nationwide. They want to get rid of IVF, they’re afraid to say it.”Biden attacked Senate Republicans after the vote. “And just last week, Senate Republicans blocked nationwide protections for birth control. Last week, Senate Republicans voted to block a Democrat-led bill that would guarantee access to contraception. Cruz and Britt attempted to pass their IVF legislation on the Senate floor Wednesday through a unanimous consent request, but Democrats blocked the effort.

Persons: Republican Sen, John Cornyn of, Roe, Wade, Chuck Schumer, MAGA, Dobbs, ” Schumer, CNN’s Erin Burnett, ” Biden, “, Democratic Sens, Patty Murray, Tammy Duckworth of, Cory Booker of, Lisa Murkowski, Susan Collins of, Katie Britt, Alabama, Ted Cruz of, Joni Ernst of, Cruz, Britt, Murray, CNN’s Kaanita Iyer, Sam Fossum, Morgan Rimmer Organizations: CNN, Democrat, Republican, Republicans, Democratic, Tammy Duckworth of Illinois, Southern Baptist, Joni Ernst of Iowa, GOP Locations: John Cornyn of Texas, Washington, Cory Booker of New Jersey, Alaska, Susan Collins of Maine, Ted Cruz of Texas

☆ Here are Thursday's biggest analyst calls: Nvidia, Netflix, Broadcom, Dell, Meta, Roblox, Tesla, Boeing, Microsoft & more
▼ + stars: | 2024-06-13 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Bank of America reiterates Broadcom as buy Following Broadcom's earnings report, Bank of America said the company has "potential to join the trillionaires club." Morgan Stanley downgrades Corning to equal weight from overweight Morgan Stanley downgraded Corning mainly on valuation. Bank of America reiterates Dell as buy Bank of America said it sees several positive catalysts ahead for Dell. Morgan Stanley reiterates Amazon, Alphabet, Meta, Microsoft and Adobe as overweight Morgan Stanley named several tech stocks that it said are well positioned for AI. " Morgan Stanley reiterates Colgate-Palmolive as a top pick Morgan Stanley said it sees a "pet inflection on the horizon" for Colgate.

Persons: it's, Oppenheimer, Ulta, Jefferies, OpenAI, Bernstein, Goldman Sachs, Goldman, Morgan Stanley, Goodyear, Wolfe, Bill Brown, Morgan Stanley downgrades Corning, TD Cowen, Cowen, KeyBanc, Dell, Clark, Wells, Fortnite, Stephens, Wedbush, Tesla, Elon Musk Organizations: Deutsche Bank, Nike, Bank of America, Broadcom, Citi, Royal, TEAM, Microsoft, OpenAI, Nvidia, Starbucks, Goodyear Tire, Civitas Resources, Netflix, Media Survey, Dell, " Bank of America, underperform Bank of America, Adobe, Colgate, Palmolive, Technology, Barclays, NextEra Energy Partners, NextEra Energy, Boeing, of America Locations: Royal Caribbean, Corning, Texas

☆ 'Clear path to a soft landing': Here's what Wall Street sees for Fed rate cuts after May inflation came in cool
▼ + stars: | 2024-06-12 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Investors cheered a soft May inflation report, which could pave the way for Fed easing this year. Rate cuts in September are "overwhelmingly likely," one economist said. AdvertisementSome Wall Street analysts predict the Fed's first cut could come as soon as July, though most see a rate cut in September as the most likely scenario. "But rate cuts starting by September should now be cemented as overwhelmingly likely." Investors are waiting for Fed Chair Jerome Powell to speak later Wednesday afternoon, which should give markets more guidance on the path of rate cuts.

Persons: —, Skyler Weinand, Regan Capital, Preston Caldwell, Morningstar's, Ryan Severino, BGO, Jerome Powell, Weinand, David Russell Organizations: Service, of Labor Statistics, Federal Reserve, Fed

☆ Inflation unexpectedly cools off as the Fed decides its next move
▼ + stars: | 2024-06-12 | by ( Madison Hoff | ) www.businessinsider.com time to read: +4 min

Meanwhile, the gas index rose 2.2% from May 2023 to this past May, higher than the 1.2% year-over-year increase in April. The food index rose 2.1% for the 12 months ending May after it was consistently seeing year-over-year increases of 2.2%. More specifically, the food at home index rose 1.0% for the 12 months ending May after a 1.1% increase. Meanwhile, the food away from home index rose 0.4% in May from the preceding month and 4.0% year over year in May. Inflation measures like the CPI suggest US inflation is still too high although these rates look a lot better than back in 2022.

Persons: —, it's, Elizabeth Renter, David Kelly Organizations: Service, Index, Bureau of Labor Statistics, Business, CPI, BLS, Housing, Morgan Asset Management

☆ Inflation slows in May, with consumer prices up 3.3% from a year ago
▼ + stars: | 2024-06-12 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

The consumer price index showed no increase in May as inflation slightly loosened its stubborn grip on the U.S. economy, the Labor Department reported Wednesday. The monthly rate rose 0.3% in April while the annual rate was 3.3%. Though the top-line inflation numbers were lower for both the all-items and core measures, shelter inflation increased 0.4% on the month and was up 5.4% from a year ago. Housing-related numbers have been a sticking point in the Federal Reserve's inflation battle and make up a heavy share of the CPI weighting. Though the Fed doesn't use the CPI as its main inflation indicator, it still figures into the calculus.

Persons: Dow Jones, Price, Robert Frick, Joseph LaVorgna, FOMC Organizations: department's Bureau of Labor Statistics, Labor Department, Treasury, Dow Jones, Navy Federal Credit Union, Federal Reserve, CPI, Nikko Securities, Commerce Locations: U.S

☆ From banks to beauty: Fund manager says AI is giving these companies 'phenomenal' uplift
▼ + stars: | 2024-06-12 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +2 min

Liontrust Asset Management's Clare Pleydell-Bouverie is looking beyond the headline-makers, however, to other companies set to gain from AI adoption. She said AI is set to remove "a lot of waste out of people's jobs," and bring about a "phenomenal productivity uplift." 'Higher customer conversion' Pleydell-Bouverie also said consumer-facing companies like French beauty and cosmetics label L'Oreal stand to gain from the adoption of AI. "They've pioneered beauty tech as an industry," she said, adding that the company's generative AI beauty assistant system has a 60% higher customer conversion than in-store advisors. The analysts have an average price of $450.25 on L'Oreal, giving it slightly downside potential.

Persons: Clare Pleydell, CNBC's, Bouverie, They've Organizations: Big Tech, Amazon, Nvidia, Meta, Microsoft, Liontrust Global Technology Fund, Technology, JPMorgan Chase, JPMorgan, L'Oreal, Euronext Locations: Euronext Paris, U.S

☆ Goldman believes the drop in this utility stock is a buying opportunity
▼ + stars: | 2024-06-12 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

NextEra stock dropped more than 5% after its investor conference, but Goldman Sachs sees a buying opportunity as the power company is forecasting robust growth for the foreseeable future. NextEra told investors Tuesday that power demand should increase by 38% over the next two decades in the U.S., which will be a significant shift compared with previous decades. The power company expects much of the demand to be met by renewable generation and battery storage. The stock remains up nearly 20% year to date. NEE YTD mountain NextEra shares year to date NextEra is planning 42 gigawatts of renewable development over the next three years.

Persons: Goldman Sachs, Carly Davenport, NextEra, Goldman, Davenport Locations: U.S

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