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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
Fitch's downgrade of the US government's credit score on Tuesday has come as a shock to markets. Here's how 8 top voices have reacted, including Jamie Dimon, Warren Buffett and Larry Summers. But the decision of a credit rating agency today, as the economy looks stronger than expected, to downgrade the United States is bizarre and inept," Summers said in a post on X. Fitch rating services down grades US credit rating from AAA to AA+. I strongly disagree with Fitch's decision, and I believe it is entirely unwarranted," Yellen said.
Persons: Jamie Dimon, Warren Buffett, Larry Summers, Fitch, Berkshire Hathaway, Treasurys, Buffett, Dimon, Jeenah, Summers, Mohamed El, Erian, Paul Krugman, Krugman, Robert Kiyosaki, Rich Dad, Brace, Janet Yellen, Patrick Semansky, Yellen, Mark Haefele, Haefele Organizations: AAA, Service, Biden, Wall, Berkshire, CNBC, JPMorgan, Allianz, Fitch, AA, Fed, Treasury, AP, UBS Global Wealth Management Locations: Wall, Silicon, U.S, United States, States
Investors should brace for an epic "crash landing" to hit markets and the economy, Robert Kiyosaki said. The "Rich Dad Poor Dad" author pointed to Fitch's move to slash the US credit rating from AAA to AA+. "Brace for crash landing. Kiyosaki has been sounding the alarm for a steep recession and an epic stock market crash for years, calling for the greatest market crash in world history in 2021. Many economists, meanwhile, are warming to the idea that the US will see a soft landing of its economy.
Persons: Robert Kiyosaki, Dad, Kiyosaki, Rich Dad, , Fitch, " Brace, He's ramped, didn't, DataTrek, Nicholas Colas, Larry Summers, Warren Buffett, Jamie Dimon Organizations: AAA, AA, Service, Fed, Treasury Locations: Wall, Silicon
Private Equity, Hedge Funds Brace for Coming SEC Overhaul
  + stars: | 2023-08-02 | by ( Paul Kiernan | ) www.wsj.com   time to read: 1 min
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Persons: Dow Jones
Echoing patterns in prior years, coronavirus infections are slowly ticking up in parts of the country, the harbinger of a possible fall and winter wave. But the numbers remain low for now, and are unlikely to reach the horrific highs seen in previous winters, experts said in interviews. Wastewater analyses point to the highest increases in the Northeast and the South, followed by the West and Midwest. After hitting a trough at the end of June, hospitalizations are inching upward again, but fortunately very slowly. Test positivity has risen to 7.6 percent, a level last seen in November 2021, and that summer, just before the Delta variant swept the nation.
Persons: hospitalizations Organizations: West Locations: Northeast, Midwest
REUTERS/Bing Guan/File PhotoAug 1 (Reuters) - A U.S. regulation restricting ownership of gun accessories known as pistol braces is likely illegal, a federal appeals court ruled Tuesday, a victory for a gun rights group challenging the rule. Circuit Court of Appeals found that U.S. Bureau of Alcohol, Tobacco, Firearms and Explosives finalized the rule in January without giving the public a meaningful chance to comment on it. The court did not immediately block enforcement of the rule, instead sending the case back to U.S. District Judge Reed O'Connor in Fort Worth, Texas. Pistol braces were first marketed in 2012 as a way of attaching a pistol to the shooter's forearm, stabilizing it and making it easier to use for disabled people. The disputed rule classifies some guns equipped with pistol braces as short-barrel rifles, based on several factors including their size and weight and the manufacturers' marketing materials.
Persons: Dimitri Karras, Bing Guan, District Judge Reed O'Connor, O'Connor, Joe Biden's, Cody Wisniewski, Jerry Smith, Don Willett, Stephen Higginson, Smith, Willett, Ronald Reagan, Donald Trump, Higginson, Barack Obama, , Higginson ‘, , Brendan Pierson, David Gregorio, Gerry Doyle Organizations: Alcohol, Firearms, Tobacco, REUTERS, Circuit, Appeals, . Bureau, Explosives, District, Coalition, ATF, U.S . Department of Justice, Fifth, Congress, Republican, Democratic, Thomson Locations: Oceanside , California, U.S, New Orleans, Fort Worth , Texas, New York
Australia crush Canada 4-0 to reach World Cup knockouts
  + stars: | 2023-07-31 | by ( Ian Ransom | ) www.reuters.com   time to read: +3 min
MELBOURNE, July 31 (Reuters) - Hayley Raso scored a first half brace and Mary Fowler struck after the break as Australia crushed Canada 4-0 on Monday to storm into the last 16 of the Women's World Cup and send the Olympic champions spinning out of the tournament. Australia topped Group B on six points, one ahead of Nigeria, who also advanced after a 0-0 draw against Ireland. They almost made it 2-0 minutes later, but Raso's shot was well saved by goalkeeper Kailen Sheridan. It scarcely mattered as five minutes later, Raso was celebrating her second strike after Sheridan failed to clear the ball from a set-piece. But another Australian raid minutes later ended with Fowler slotting in a cross from Caitlin Foord to blow out the lead.
Persons: Hayley Raso, Mary Fowler, Raso, Sam Kerr, Fowler, Steph Catley, Kerr, Canada's talismanic, Christine Sinclair, Bev Priestman, Kailen Sheridan, Sheridan, Sophie Schmidt, Caitlin Foord, Jessie Fleming clattered, Katrina Gorry, Ian Ransom, Christian Radnedge Organizations: MELBOURNE, Olympic, Melbourne, Australia, Ireland, Raso, Thomson Locations: Australia, Canada, Denmark, Nigeria, Melbourne
Women's World Cup roundup: Australia routs Canada
  + stars: | 2023-07-31 | by ( ) www.reuters.com   time to read: +2 min
[1/4] Soccer Football - FIFA Women’s World Cup Australia and New Zealand 2023 - Group B - Canada v Australia - Melbourne Rectangular Stadium, Melbourne, Australia - July 31, 2023 Australia's Hayley Raso celebrates scoring their second goal REUTERS/Asanka Brendon RatnayakeJuly 31 - Hayley Raso recorded a first-half brace on Monday as Australia advanced to the knockout round with a 4-0 victory over Canada in a Group B clash at the Women's World Cup in Melbourne, Australia. Kailen Sheridan made two saves for Canada (1-1-1), which was unable to take advantage of a 5-4 edge in corner kicks. The Japanese will face Norway in the knockout round on Saturday in Wellington. Misa Rodriguez made one save for Spain (2-1-0), which will challenge Switzerland on Saturday in Auckland, New Zealand. Zambia 3, Costa Rica 1Lushomo Mweemba, Barbra Banda and Racheal Kundananji each scored a goal to lift Zambia to its first-ever win at the Women's World Cup at Hamilton, New Zealand.
Persons: Hayley Raso, Asanka Brendon Ratnayake, Raso, Mary Fowler, Steph Catley, Kailen Sheridan, Nnadozie, Uchenna Kanu, Courtney Brosnan, Hinata Miyazawa, Miyazawa, Riko Ueki, Mina Tanaka, Misa Rodriguez, Mweemba, Barbra Banda, Racheal Kundananji, Catherine Musonda, Melissa Herrera Organizations: Soccer Football, FIFA, REUTERS, Canada, Australia, Ireland, Brisbane, Japan, Spain, Costa Rica, Thomson Locations: New Zealand, Canada, Melbourne, Australia, Nigeria, Japan, Spain, Wellington , New Zealand, Norway, Wellington, Auckland , New Zealand, Zambia, Costa Rica, Hamilton , New Zealand
Women’s World Cup 2023: Live scores, fixtures, results, tables and top scorers. CNN —Australia is through to the round of 16 of the Women’s World Cup thanks to an emphatic 4-0 win over Canada, eliminating the reigning Olympic champion in the process. Nigeria’s goalless draw with the Republic of Ireland in Group B’s other match ensured the Super Falcons progressed in second place, a point ahead of Canada, to reach the last 16 for the second World Cup in a row. Hayley Raso’s first-half brace, a second-half goal for Mary Fowler and a Steph Catley penalty secured an eye-catching victory for the co-host and thrilled a raucous crowd of 27,706 inside the Melbourne Rectangular Stadium. More to follow…
Persons: Hayley Raso’s, Mary Fowler, Steph Catley Organizations: CNN —, Canada, Olympic, Republic of Ireland, Super Falcons Locations: CNN — Australia, Republic of, Canada, Melbourne
"You're coming into a very difficult group (B at the World Cup). And I think that's the difference ... it's belief and pressure for me." FINAL APPEARANCEMonday marked the final appearance for Sophie Schmidt, who said she will retire after this, her fifth World Cup. Canada's 40-year-old talisman Christine Sinclair, the world's leading international scorer with 190 goals, was never a threat and substituted at the break for what was likely her final World Cup appearance. Priestman believes Canada can learn and grow from their disappointing World Cup performance.
Persons: Bev Priestman, I'm, Priestman, you've, Australia's Hayley Raso, I've, Sophie Schmidt, Christine Sinclair, Christine Sinclair's, that's, Lori Ewing, Ken Ferris Organizations: MELBOURNE, Melbourne, Olympic, Nigeria, Ireland, Australia, Thomson Locations: Tokyo, Canada, Australia
As of 7:15 a.m. (23:15 GMT) Typhoon Doksuri, categorised at the second-strongest typhoon level by Taiwan's weather bureau, headed towards China's southeastern province of Fujian after crossing the Taiwan Strait with maximum winds of 191 kmh (118 mph). Businesses and schools were shut for the second day in southern counties of Taiwan including the major port city of Kaohsiung amid warnings of landslides and floods. The storm had cut power to more than 186,000 homes across Taiwan and downed hundreds of trees in Kaohsiung. Rainfall of more than 1 metre was recorded in the mountainous eastern and southern parts of the island. More than 300 domestic and international flights were suspended and railway services between southern and eastern Taiwan were halted.
Persons: Doksuri, Yimou Lee, Michael Perry Organizations: Thomson Locations: TAIPEI, Taiwan, China, China's, Fujian, Taiwan Strait, Kaohsiung, Penghu, Philippine, Manila, Philippines
The week ahead: Investors brace for week of earnings
  + stars: | 2023-07-28 | 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 EmailThe week ahead: Investors brace for week of earningsCNBC's Dominic Chu looks ahead to what are likely to be next week's top business and financial stories.
Persons: CNBC's Dominic Chu
A heat advisory indicates potentially dangerous conditions for older and other vulnerable people; an excessive heat warning indicates anyone may be at risk. Although New Yorkers are no strangers to sweltering in summertime, the current hot spell is somewhat unusual: The Weather Service last issued an excessive heat warning for the area in August 2021, Mr. Ramunni said. The heat and humidity were expected to remain oppressive through Saturday evening, when thunderstorms are likely to move through. Central Park was a bit cooler, with the temperature peaking at 92 degrees and the heat index hitting 99. The city’s pools, which open at 11 a.m., will stay open for an extra hour, until 8 p.m., on Friday and Saturday.
Persons: Ramunni, Eric Adams Organizations: Weather Service Locations: New York, United States, New England, Newark , N.J
Gold prices brace for biggest weekly decline in five
  + stars: | 2023-07-28 | by ( ) www.cnbc.com   time to read: +2 min
At Agosi AG in Pforzheim, freshly cast gold granules are on display that have a fine gold content of 99.99 percent. Gold prices held near two-week lows on Friday after strong U.S. economic data spurred the dollar and bond yields in a high interest rate environment that dragged the non-interest-bearing metal towards its biggest weekly decline in five. Bullion has declined 0.4% so far in the week, heading for its biggest weekly fall since June 23. "Any confirmation of an adjustment at the upcoming meeting will bring about upside risks to global bond yields and weigh on the non-yielding yellow metal further." Higher U.S. interest rates and Treasury bond yields raise the opportunity cost of holding gold.
Persons: Bullion, Yeap Jun Rong Organizations: Agosi AG, Bank of Japan, IG, U.S, Fed, Higher Locations: Pforzheim, Baden, Württemberg, U.S
With its latest 25 basis point interest rate increase now in the books, the Fed has raised the benchmark overnight interest rate by 525 basis points since March 2022 to a level last seen before the 2007 housing market crash in a fight to bring down inflation. Still, some fixed income investors have remained on edge over how long the Fed can keep interest rates at restrictive levels without sparking an economic downturn. Meanwhile, Fed funds futures traders saw increased probability of another interest rate increase in September. To be sure, investors had badly overestimated the chances for recession at the beginning of this year and could be wrong again. Over the past year the unemployment rate has remained stubbornly low and growth has run consistently above trend.
Persons: Jerome Powell, Gurpreet Gill, Goldman Sachs, Powell, Kristy Akullian, It's, Adam Hetts, Janus Henderson, Mike Sanders, Blair Shwedo, Davide Barbuscia, David Randall, Ira Iosebashvili Organizations: YORK, Federal Reserve, Fed, Goldman Sachs Asset Management, Barclays, BlackRock, Investment, Treasury, Janus, Janus Henderson Investors, Madison Investments, U.S . Bank, Thomson
July 25 (Reuters) - Lionel Messi scored two first half goals and assisted on another in the second to lead Inter Miami to a 4-0 dismantling of Atlanta United and advance to the knockout stage of the Leagues Cup on Tuesday. After coming off the bench to score a dramatic game winner in his debut on Friday night, the World Cup champion from Argentina wasted no time in his first start with the MLS side. Messi slotted home a second in the 22nd minute on a diving cross from teammate Robert Taylor, who notched a brace of his own on a hot night in Miami. After scoring, Messi stopped and pointed from the field at the team co-owner David Beckham, who was watching the game. Messi and fellow Argentinian Almada hugged when Messi was subbed out in the 78th minute and the pair exchanged jerseys after the match.
Persons: Lionel Messi, Sergio Busquets, Messi, Robert Taylor, David Beckham, Atlanta's, Thiago Almada, Drake Callender, Almada, subbed, Curz Azul, Ballon, Rory Carroll, Christian Schmollinger Organizations: Inter Miami, Atlanta United, Leagues, MLS, Manchester United, Miami, Curz, Liga, Thomson Locations: Argentina, Barcelona, Miami, Saudi Arabia, Los Angeles
[1/2] Model of a Pratt & Whitney GTF engine is displayed at the 54th International Paris Air Show at Le Bourget Airport near Paris, France, June 20, 2023. Hawaiian Airlines warned it might have to adjust its capacity, but said it was too early to assess the impact. Spirit Airlines previously cut 2023 capacity estimates due to a lack of working GTF engines. A spokesperson said the New York-based carrier was working with Pratt to assess the impact of the latest problem. In a regulatory filing, the company previously warned it was "vulnerable to significant problems" associated with Pratt & Whitney's GTF engines.
Persons: Pratt & Whitney, Benoit Tessier, Pratt, Addison Schonland, RTX, Schonland, Peter Ingram, Scott Haralson, Whitney's, Wizz, Rajesh Kumar Singh, Tim Hepher, Valerie Insinna, Ben Klayman, Jamie Freed Organizations: Pratt &, International Paris Air, Le, REUTERS, Airline, Pratt & Whitney, Pratt, Airbus, Carriers, Spirit Airlines, JetBlue Airways, Hawaiian Airlines, Wizz, JetBlue, Thomson Locations: Le Bourget, Paris, France, PARIS, Pratt, Florida, New York, New York City, Chicago, Washington
The Fed is set to raise rates again but people are still splashing the cash. North Korea rolls out the red carpet for Russia and China. Plus, striking Bryan Cranston sends Hollywood bosses a message as the United States’ summer of strikes rolls on. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. Further ReadingNorth Korea to welcome China and Russia with military display after pandemic isolationMorning Bid: Markets brace for Fed decision, earnings floodUPS, union avert strike with planned 5-year deal, more payOur Standards: The Thomson Reuters Trust Principles.
Persons: Taylor Swift, Bryan Cranston Organizations: Apple, Google, Reuters, Hollywood, Thomson, Reading Locations: North Korea, Russia, China, United States, Reading North Korea
Morning Bid: Markets brace for Fed decision, earnings flood
  + stars: | 2023-07-26 | by ( ) www.reuters.com   time to read: +2 min
Investors will be listening carefully to Chair Jerome Powell for indications of whether or not another interest rate hike is in the pipeline. The Fed's communication could set the tone for markets ahead of policy decisions from the European Central Bank (ECB) on Thursday and the Bank of Japan (BOJ) on Friday. Reuters GraphicsEuro zone June M3 annual growth and lending data on Wednesday are unlikely to affect markets ahead of the ECB's decision. Chinese stock markets were mostly lower on Wednesday following a steep rally the day before. China's blue-chip CSI300 (.CSI300) index was down 0.3% while the CSI 300 Real Estate index gained 0.2%.
Persons: Brigid Riley, Jerome Powell, HSI, Sonali Desai, Edmund Klamann Organizations: Federal Reserve, Federal, Market, European Central Bank, Bank of Japan, ECB, Reuters, Fisher, Union Pacific Corp, eBay, Boeing, Microsoft, Carrefour, Danone, GSK, CSI, CPI, Reserve Bank of Australia, U.S, Fed, Thomson Locations: United States, U.S, Europe, France, Asia, China
Asia-Pacific markets are set to fall as investors brace for the U.S. Federal Reserve's rate decision on Wednesday. The Fed is expected to approve what would be the 11th interest rate increase since March 2022. That would push the upper boundary of the federal funds rate to its highest level since January 2001. In Australia, futures for the S&P/ASX 200 were at 7,313, lower than the index's last close of 7,339.7, ahead of its inflation figures for June. The inflation print comes ahead of the Reserve Bank of Australia's rate decision on August 1, and will be a key consideration for the central bank.
Organizations: U.S, Reserve Bank, Nikkei Locations: Asia, Pacific, U.S . Federal, Australia, Japan, Chicago, Osaka
SAO PAULO, July 25 (Reuters) - Consumer prices in Brazil fell by more than expected in the month to mid-July, data from statistics agency IBGE showed on Tuesday, as markets brace for an interest rate cut when the central bank monetary policy committee meets next week. In Latin America's largest economy, the IPCA-15 consumer price index fell 0.07% in the period, down from 0.04% in the previous month and below the 0.01% drop expected by economists polled by Reuters. That took 12-month inflation in the country to 3.19%, while economists had projected it to come in at 3.26%. The annual figure remains below the central bank's inflation target of 3.25% for this year, although an uptick is expected from this month because of unfavorable base effects. IBGE said the deflation in the month to mid-July was mainly driven by lower housing and food and beverage costs, whose declines were partially offset by an increase in transportation prices.
Persons: IBGE, Gabriel Araujo, Steven Grattan Organizations: SAO PAULO, IBGE, Reuters, Thomson Locations: Brazil
July 26 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. China's blue chip equity index rose nearly 3% for its best day this year, and Chinese property stocks surged 8% for their biggest rise this year too. Hong Kong's main property stocks index jumped 14%, the biggest rise since March last year. The mainland property index is still down 13% this year and the Hong Kong-based index is down 25%. All this comes ahead of the first of three major central bank policy decisions this week - the Federal Reserve is expected to raise rates 25 basis points on Wednesday, followed by a similar move from the European Central Bank on Thursday and the Bank of Japan holding the line on Friday.
Persons: Jamie McGeever, It's Organizations: MSCI's, Big Tech, Microsoft, Federal Reserve, European Central Bank, Bank of Japan, Thomson, Reuters Locations: China, Hong, Hong Kong, MSCI's Asia, Japan, Asia, Australia, Singapore
Women’s World Cup 2023: Live scores, fixtures, results, tables and top scorersCNN —The 2023 Women’s World Cup is now in full swing with teams entering the second round of fixtures from the group stage phase. Hinata Miyazawa scored a brace for the 2011 World Cup winner with Jun Endō, Mina Tanaka and Riko Ueki also kickstarting their Women’s World Cup goal tally. Spain vs. ZambiaOne of the early favorites for the 2023 Women’s World Cup is Spain, particularly after its strong showing against Costa Rica. The Iberian nation was totally in control of its World Cup opener and, despite winning 3-0, the result could have been even better. Canada vs. Republic of IrelandBoth Canada and the Republic of Ireland made disappointing starts to their 2023 Women’s World Cup campaigns.
Persons: Hinata Miyazawa, Jun Endō, Mina Tanaka, Riko Ueki, Maja Hitij, Roja, Spain's Esther González, Amanda Perobelli, Christine Sinclair, Steph Catley Organizations: CNN, Fox, Fox Sports, Telemundo, Peacock, Seven Network, Optus Sport, BBC, ITV, FIFA, Japan, Costa Rica Japan, Zambia, Costa, Reuters, Zambia –, Spain, Canada, Republic of Ireland, Sinclair Locations: Japan, Spain, Costa Rica, Zambia, Canada, Republic of Ireland, Australia, United Kingdom, Costa, Nigeria, Republic of
Morning Bid: Big Tech litmus test as Fed gather
  + stars: | 2023-07-25 | by ( ) www.reuters.com   time to read: +4 min
The wider blue-chip CSI 300 Index (.CSI300) snapped a six-day losing streak to pop 3% and buying from state banks propped the yuan. Both oil and Treasury yields gave back some of those gains again today, however, with year-on-year crude price declines still tracking more than 21%. There was little ostensible reaction to the formal rebalancing of the Nasdaq 100 (.NDX) index that pared weightings of several of the big caps to reduce "over-concentration". The approach of Wednesday's Fed decision may limit market moves until then. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Persons: Mike Dolan, sagged, Dow Jones bluechips, Alphabet's, Clark, Chubb, Paccar, Sherwin, Williams, Archer, Ed Osmond Organizations: Big Tech, Microsoft, Federal Reserve, European Central Bank, ebbing, Nasdaq, Google, Texas, NextEra Energy, Visa, GE, GM, Dow, Verizon, Universal Health, Daniels, Richmond Fed, Philadelphia Fed, Federal, Market, Monetary Fund, Treasury, Reuters, Thomson Locations: U.S, Hong, Europe, China, Danaher, Corning, Kimberly, Biogen, Dover, Nucor, Midland
Asia shares brace for trio of rate meetings, China steps
  + stars: | 2023-07-24 | by ( Wayne Cole | ) www.reuters.com   time to read: +4 min
China's Politburo meeting this week could see more stimulus announced, though investors have so far been underwhelmed by Beijing's actions. S&P 500 futures and Nasdaq futures were little changed ahead of a wave of earnings this week. The U.S. dollar eased a touch to 141.37 yen , having jumped 1.3% on Friday following the report on the BOJ. The rise in the dollar pulled gold back to $1,961 an ounce and away from last week's peak of $1,987. Oil prices ran into profit-taking early on Monday having climbed for four straight weeks amid tightening supplies.
Persons: Jerome Powell, Christine Lagarde, Powell, John Briggs, Goldman Sachs, Brent, Wayne Cole, Shri Navaratnam, Christopher Cushing Organizations: Nikkei, Fed, ECB, SYDNEY, U.S . Federal Reserve, European Central Bank, NatWest Markets, Bank of Japan, Reuters, Japan's Nikkei, HK, Nasdaq, Intel, Microsoft, GE, Boeing, Exxon Mobil, Coca Cola, Ford, Google, U.S, Thomson Locations: Europe, United States, Asia, Pacific, Japan, Coca, Spain
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