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☆ Stock market today: US stocks rise to records ahead of key June inflation report
▼ + stars: | 2024-07-08 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks jumped to record highs ahead of key economic data releases this week. AdvertisementUS stocks jumped to record highs on Monday ahead of key economic data scheduled for this week. Investors will be keenly focused on the June consumer price index report on Thursday, with Core CPI expected to rise 3.1% year-over-year, compared to May's CPI report of 3.3%. More inflation data will be released on Friday with the release of the June PPI report, which is expected to rise 0.1% on a month-over-month basis. The new inflation data will help inform investors and the Federal Reserve about the path of interest rates for the rest of this year.

Persons: Powell, —, Jerome Powell, Wells, Katie Stockton, Stockton Organizations: PPI, Service, Federal Reserve, Fed, Fed Governors, JPMorgan, Citigroup, Here's Locations: Wells Fargo

☆ 'We're in a slow-motion melt-up': 3 reasons why the bull market in stocks will continue, according to Ed Yardeni
▼ + stars: | 2024-07-08 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

The stock market will continue to hit record highs driven by reasonable valuations and continued earnings growth, according to Ed Yardeni. AdvertisementThe record rally in the stock market isn't close to being over, according to market veteran Ed Yardeni. Forward earnings expectations riseAnalysts' forward earnings expectations hit a record high last week, illustrating that the market rally is supported by what matters the most: profits. Market breadth will improveWhile the stock market rally has been driven mostly by a concentrated handful of companies, improving earnings breadth should lead to improving market breadth, according to Yardeni. There's a lot of companies that are benefiting from AI," Yardeni said.

Persons: Ed Yardeni, —, Yardeni, Corning, let's Organizations: Service, CNBC

☆ Zelensky blasts Modi meeting with Putin the same day Russian attack devastates Ukraine hospital
▼ + stars: | 2024-07-08 | by ( Helen Regan | ) edition.cnn.com time to read: +7 min

Two people were killed and at least 16 others were injured in the strike on Kyiv’s Okhmatdyt hospital. Rescuers work at Ohmatdyt Children's Hospital that was damaged during a Russian missile strikes, in Kyiv, Ukraine July 8, 2024. Reducing the trade imbalance would be a “matter of priority” in Modi’s discussions with Putin, he said, ahead of the trip. Russian Presidential Aide Yury Ushakov said the Kremlin attaches “primary importance” to Modi’s visit, Russian state-run news agency TASS reported. Biden called Russian missile strikes in Kyiv – including on the children’s hospital – a “horrific reminder of Russia’s brutality,” in a statement Monday evening.

Persons: Volodymyr Zelensky, ”, Narendra Modi, Vladimir Putin, Putin, ” Zelensky, Gleb Garanich, Iryna Filimonova, Volker Turk, Modi, ” Putin, “, Modi’s, Matthew Miller, Randhir, Yury Ushakov, Joe Biden, Biden, ” Biden Organizations: CNN, Indian, Ohmatdyt, United, Kremlin, US State Department, UN, United Nations, NATO, Russian Locations: Moscow, Russian, Kyiv, Novo, Ogaryovo, Russia, Ukraine, Dnipro, Kryvyi, United Nations, Ukrainian, India, Delhi, China, Western, United States, Washington

☆ Wimbledon day 8: Will Rybakina break cycle? Did we see the most chaotic match-up?
▼ + stars: | 2024-07-08 | by ( Charlie Eccleshare | Matthew Futterman | ) www.nytimes.com time to read: +20 min

Follow live coverage of Wimbledon 2024Welcome to the Wimbledon briefing, where The Athletic will explain the stories behind the stories on each day of the tournament. On day eight of Wimbledon 2024, Elena Rybakina stepped up to her new billing, the ATP made a germy decision, and there was chaos on Court One. Elena Rybakina is one of three players left in the women’s field who has won a Grand Slam title before. Rybakina plays with a big serve and with flat power that keeps her ball low. More importantly, do we too often discount the data point of winning a tournament on grass the week before Wimbledon?

Persons: Elena Rybakina, Rybakina, Julian Finney, ”, Anna Kalinskaya, “, Elina Svitolina, She’s, Jelena Ostapenko, Barbora, Krejcikova, It’s, “ it’s, ” Matt Futterman, Yulia Putintseva, Ostapenko, Putintseva’s, Putintseva, 😂😂, ould, Fritz, ryo, aylor Fritz, Finney, Getty, bea, Rafael Nadal,, ” “Th, is ano, bec, hird, D., 🇪, 🇦 L., 🇸 A., Alves (Q, 🇹, B., Marte, J, Choi, 🇵, Nishiok, Goff, iva, J., 🇸 R., 🇷 L., 🇸 J., rin, Safi, T omlj, R, 🇸 R. M, Gade, 🇧 H., Tom o, 🇸 M., Zhan, 🇸, 🇳, Wang, 🇧, 🇦 28 D. Y, Bouzas, Su, D. Y, 🇷, ina, vito Organizations: Wimbledon, ATP, All England, Getty, WTA Tour, rte, acc, 🇨🇱, 🇬, 🇷, avon, 🇸, ritz, 🇺, ub, 🇧, (Q), 🇴 I. Begu, 🇴, Collins, Saville, Keys, uc Locations: Wimbledon, Ukraine, French

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin's slump continues amid government selling pressures, Mt. Gox repayments: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Matthew Sigel, head of digital assets research at VanEck, weighs in on the recent decline in crypto prices.

Persons: explainers, Matthew Sigel Organizations: CNBC Crypto, CNBC

☆ An Iranian frigate was seen capsizing at port while next to merchant ships, in another black mark for the country's record of naval mishaps
▼ + stars: | 2024-07-08 | by ( Matthew Loh | ) www.businessinsider.com time to read: +1 min

An Iranian frigate capsized while undergoing repairs at Bandar Abbas, a coastal city in the Strait of Hormuz. State media reported that it took on water and lost balance due to a "technical failure." AdvertisementSeveral people were admitted to hospital after an Iranian warship capsized at the port city of Bandar Abbas on Sunday, Iran's state media reported. The Sahand, a domestically produced Moudge-class frigate, was undergoing repairs when it lost balance and partially sank, per the Mehr News Agency. The mishap was due to a "technical failure," Mehr reported.

Persons: —, Bandar, Mehr Organizations: Service, Mehr News Agency Locations: Iranian, Bandar Abbas, Strait, Hormuz, State, , Bandar Abbas

☆ ‘We don’t want to leave people behind’: AI is helping disabled people in surprising new ways
▼ + stars: | 2024-07-08 | by ( Clare Duffy | ) edition.cnn.com time to read: +7 min

But advancements in AI technology are already beginning to remove the need for volunteer helpers on the other end. Applications for blind users are just one area where AI is helping to advance what’s known as “assistive technology,” tools designed to help people who are disabled or elderly. New generative AI tools are especially promising for accessibility applications because they’re designed to understand and produce information in various formats, including text, audio, photos and videos. The effort, called the Speech Accessibility Project, involves collecting recordings from volunteers with conditions such as Parkinsons, Down Syndrome, ALS and other disabilities that can affect speech. “We don’t want to leave people behind … technology in general has the ability to level the playing field,” Andersson said.

Persons: Matthew Sherwood, Sherwood, Chris, OpenAI, ” Sherwood, Eve Andersson, Google’s, ” Andersson, ”, Clarion Mendes, ” Mendes Organizations: New, New York CNN, Google, Apple, Tech, CNN, Big Tech, Microsoft, University of Illinois, Clarion Locations: New York, University of Illinois Urbana, Champaign

☆ Stock market today: Nvidia pushes Nasdaq, S&P 500 to record highs
▼ + stars: | 2024-07-08 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

The S&P 500 index and Nasdaq closed at record highs, driven by a 2% gain in Nvidia. UBS raised Nvidia's price target to $150 due to strong demand for its chips and a reasonable valuation. Investors are awaiting June's CPI inflation report Thursday and comments from Fed Chairman Jerome Powell. AdvertisementThe S&P 500 index and Nasdaq closed at record highs on Monday, driven by a nearly 2% gain in Nvidia stock. The AI darling rose after UBS raised its price target to $150 per share in a Monday note.

Persons: Jerome Powell, —, Price, Jeremy Siegel Organizations: Nasdaq, Nvidia, UBS, Service, Nvidia's, Blackwell, Federal, Wharton School

☆ Multibillion-Dollar Fraud Trial Against Archegos Founder Nears Its End
▼ + stars: | 2024-07-08 | by ( Matthew Goldstein | ) www.nytimes.com time to read: +1 min

During closing arguments, Andrew Thomas, the prosecutor, said that Mr. Hwang had defrauded the banks and other traders in the market by artificially inflating stock prices to pump up the size of Archegos. Barry Berke, a lawyer for Mr. Hwang, said the government was criminalizing his client’s high-risk trading only because it caused losses for the banks that had lent him billions of dollars. Hwang bet on companies he believed in,” Mr. Berke said. “That is not manipulative.”Mr. Hwang, 60, is charged with 11 counts of securities fraud, wire fraud, conspiracy, racketeering and market manipulation. If convicted on all counts, he could spend the rest of his life in prison.

Persons: “, Bill Hwang, Andrew Thomas, Mr, Hwang, Barry Berke, ” Mr, Berke Organizations: Archegos Capital Management Locations: Manhattan

☆ Abolish HOAs: Homeowner Associations Make It Harder to Own a House
▼ + stars: | 2024-07-08 | by ( Ned Resnikoff | ) www.businessinsider.com time to read: +10 min

These private quasi-governments are called homeowner associations, or HOAs. While California has the most HOAs of any state (50,000), Florida has far more HOA residents as a percentage of its population. The association also provided its residents with "the usual privileges of a citizen in any free state," Tullock wrote. Readers will not be shocked to learn that Clarke and Freedman also found that HOA residents were more likely to be white or Asian than non-HOA residents. (Cashin observed that several states, including New Jersey and Texas, had laws allowing HOA residents to subtract the cost of privately provided infrastructure from their taxes.)

Persons: Norman Rockwell, Ron DeSantis, HOA, Quinn Slobodian, HOAs —, Gordon Tullock, Tullock, it's, Jim Crow, Wyatt Clarke, Matthew Freedman, Clarke, Freedman, Robert Reich, Sheryll Cashin, Cashin, HOAs Organizations: Gov, Guardian, HOAs, George Mason University, HOA Locations: An, HOA, Florida, While California, Rossmoor , California, America, Pima County, New Jersey, Texas, That's

Support for left-wing parties surged unexpectedly in nationwide legislative elections on Sunday, pushing the nationalist, anti-immigration National Rally into third place. The electoral map showed enduring divisions — with Paris and its suburbs voting for the left and center, and the regions in the far north and south along the Mediterranean voting for the far right. The country’s political outlook appeared more muddled than before, with three large political blocs, each with a vastly different vision and plan for the country.

Organizations: Rally Locations: Paris

☆ The stock market will drop 32% in 2025 as the Fed fails to save the economy from a recession, research firm says
▼ + stars: | 2024-07-07 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

The S&P 500 will plunge 32% in 2025 as a recession finally hits the US economy, BCA Research predicts. The firm said the Fed will fail to prevent a recession as it takes its time cutting interest rates. And perhaps most importantly, the Fed's plan to blunt any economic decline via interest rate cuts simply won't work. For example, the average mortgage rate paid by consumers is around 4%, compared to current mortgage rates of around 7%. That means even if the Fed cuts interest rates and mortgage rates decline, the average mortgage rate paid by consumers will continue to rise.

Persons: —, Peter Berezin, Berezin Organizations: BCA Research, Service, Federal, Wall

☆ Coco Gauff out of Wimbledon after Emma Navarro shock on Centre Court
▼ + stars: | 2024-07-07 | by ( Matthew Futterman | ) www.nytimes.com time to read: +3 min

WIMBLEDON — The ball whistled past Coco Gauff’s shoulder, and seconds later her hand was over her mouth. 1, and one of the current favorites for the Wimbledon title that will be handed out on Saturday July 13. Navarro, who shows little emotion regardless of the numbers on the scoreboard, kept her cool and stayed steady. Gauff was the only player to make it to at least the semifinals of the last three Grand Slams. AdvertisementAnother forehand error from Gauff earned Navarro a third match point.

Persons: Gauff’s, Emma Navarro, Iga Swiatek, Brad Gilbert, Navarro, isn’t, Gauff, Clive Brunskill, Naomi Osaka, “, Jasmine Paolini — “, ” Navarro, Henry Nicholls Organizations: WIMBLEDON, NCAA, Wimbledon, U.S, All England Club, Getty

☆ Wimbledon recap day 7: Carlos Alcaraz’s highlight reel and Lulu Sun’s story
▼ + stars: | 2024-07-07 | by ( Charlie Eccleshare | Matthew Futterman | ) www.nytimes.com time to read: +19 min

Welcome to the Wimbledon briefing, where The Athletic will explain the stories behind the stories on each day of the tournament. On day seven of Wimbledon 2024, Carlos Alcaraz showed off his tennis diet, Lulu Sun kept building her story, and Daniil Medvedev set up a rematch. To really feel good on a tennis court, Carlos Alcaraz needs to play points that get the crowd off their seats. He lost the third set 6-1 and went on a run of losing four service games in a row. Even in an international sport like tennis, Wimbledon quarterfinalist Lulu Sun has quite some heritage.

Persons: Carlos Alcaraz, Lulu Sun, Daniil Medvedev, Ugo Humbert, Alcaraz, Humbert, Spaniard, Tommy Paul, — Charlie Eccleshare, Emma Raducanu, Sun, She’s, Julian Finney, Donna Vekic, Zhu Lin, Charlie Eccleshare Will Daniil Medvedev, Jannik, hadn’t, We’ll, Sinner, Medvedev, Adam Pretty, Grigor Dimitrov, Ben Shelton, he’ll, — Charlie Eccleshare Will Jasmine Paolini’s, Keys, Rob Newell, Camerasport, Paolini, Emma Navarro, — James Hansen, Paula Badosa’s, 🇷 F., Paul, 🇸 P., 🇪, 🇷 M., 7 🇦🇷 F, Dani e, C. O, A. T, 🇸 J. Muna, Du, L. N, J, 🇵 Y, Cobo, Mun, i tz 🇩, 🇧 F. J, Ker, B., C. Tau, Carl e, 🇸, Fernandez, 🇳 10 O. J, Golub, Boult e r 7 7 🇩, Mari, 🇴, eva, 🇷, 🇿 26, 🇷 16 E. J, Maia, 🇿, Wang, 🇧 E. R, ina, LL, odon, K, M., D., 🇸 19 E., Coll, Ry Organizations: Wimbledon, Getty, Madison Keys, Shelton, 🇬, Monfils, rgs, Walton, 🇰, 🇺, 🇸, Alcaraz 6, 🇷, 🇱 A. Rus, Navarro Locations: —, Croatian, New Zealand, Switzerland, Devon, Melbourne

☆ Hurricane Beryl: Damaging winds and storm surge could hit South Texas this weekend
▼ + stars: | 2024-07-06 | by ( Dalia Faheid | ) edition.cnn.com time to read: +10 min

CNN —Tropical Storm Beryl will strengthen as it tracks toward the Texas-Mexico border this weekend, bringing a risk of damaging winds, life-threatening storm surge and dangerous flooding to Texas beginning late Sunday. • Hurricane and storm surge watches issued: Hurricane and storm surge watches were extended eastward along the Texas coast Friday night. • Beryl expected to slam South Texas: Beryl is forecast to make landfall over South Padre Island, Texas, close to the Texas-Mexico border, as a Category 1 hurricane late Sunday night, according to the National Hurricane Center. • At least nine dead due to Beryl: Beryl became the earliest Category 5 hurricane in the Atlantic on record earlier this week. Randy Brooks/AFP/Getty Images Brad Reinhart, senior hurricane specialist at the National Hurricane Center in Miami, tracks Hurricane Beryl on Monday.

Persons: It’s, • Beryl, Beryl, Barra el Mezquital, Gov, Dan Patrick, “, ” Patrick, ClimaMeter, Vincent, Everton Evanks, Elizabeth, Joe Raedle, Hurricane Beryl, Fernando Llano, Collin Reid, Leo Hudson, Simone Francis, Hurricane, Paola Chiomante, Marco Bello, Jose Luis Gonzalez, Arthur Daniel, Samir Aponte, Ricardo Hernandez, Winston Alleyne, Lucanus, Ricardo Mazalan, Sylvia Small, Matthew Dominick, Chandan Khanna, Randy Brooks, Brad Reinhart, Gilbert Bellamy, Beryl’s, Patrick, Greg Abbott, Rudy Madrid, Connie Scott, Paulette Guajardo, Guajardo Organizations: CNN, National Hurricane Center ., Texas Gulf, National Hurricane Center, Everton, Hurricane, Getty, AP, National, Reuters, Wednesday, Reuters Workers, AP Homes, Petite Martinique, Bridgetown Fisheries, NASA, Gov, Texas Coast, Texas Gov, Sargent, Residents, Facebook, Loyola Beach, National Weather Service, Corpus Christi, Sunday, Corpus Locations: Texas, Mexico, of Mexico, Corpus Christi , Texas, Yucatan, South Texas, The Texas, Rio, San Luis Pass, High, Harris County, Barra el, Rio Grande, South Padre Island , Texas, National Hurricane Center . Texas, Gulf Coast, Texas Gulf Coast, Gulf, Caribbean, Jamaica, Venezuela, Grenada, Saint Vincent, Grenadines, St, Barbados, Elizabeth Parish, Tulum, Kingston , Jamaica, Hurricane, Kingston, Old Harbor, Cancun , Mexico, Playa del Carmen, Union, Kingstown, Lucanus, Petite, Cumanacoa, Santo Domingo, Dominican Republic, Bridgetown, Oistins, Hastings, AFP, Miami, Matagorda County, Matagorda, Palacios, Aransas, RVs, Kleberg County, Baffin Bay, City, Kingsville . Nueces, Corpus, Houston

☆ Stock market today: US stocks close at record highs after dovish June jobs report
▼ + stars: | 2024-07-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The June jobs report showed 206,000 jobs added to the economy, slightly above estimates. "To us, the message is the labor market is slowing," Fundstrat's Tom Lee said of the June jobs report. AdvertisementUS stocks closed at fresh record highs on Friday after a dovish June jobs report. Both indexes finished the week at record highs, while the Dow Jones Industrial Average has yet to hit its record high reached in May. AdvertisementThe April jobs report was also revised lower to 108,000 jobs added that month, down from the initial reading of 165,000.

Persons: Tom Lee, —, Steven Blitz, Lombard, JPMorgan's David Kelly Organizations: Service, Nasdaq, Dow Jones, Federal Reserve, Fed, GlobalData

☆ China-made military drones similar to the MQ-9 Reaper were disguised as wind turbines in shipments to Libya: Italian officials
▼ + stars: | 2024-07-05 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

Read previewItaly has seized parts for two combat drones disguised as wind turbines in containers en route from China to Libya, customs and maritime authorities said on Tuesday. AdvertisementFootage of Italian authorities intercepting components of two Chinese Wing Loong II UAVs disguised as wind turbines that were heading to Libya. AdvertisementItalian officials stand next to drone parts disguised as wind turbines. Guardia di FinanzaAs a long-endurance and remotely controlled weapons platform, the Wing Loong-2 is often compared to the US-made MQ-9 Reaper, though its maximum speed and altitude are inferior to the latter. AdvertisementThe UN report and a BBC investigation found that Wing Loong-2 drones were likely supplied by the United Arab Emirates, which has long been accused of backing Haftar.

Persons: —, Gioia Tauro, Loong, ALY7IBwRaA, WeKoW0i7Rs, Khalifa Haftar, Haftar's, Muammar, he's Organizations: Service, Financial Police, Business, Investigators, MSC Arina, MSC Apolline, Libyan, Financial Guard, Guardia, Times, Guard, United Nations, Libyan National Army, UN, United Arab Emirates Locations: Italy, China, Libya, London, Benghazi, Beijing, Muammar Gaddafi's, Russia, Moscow, Tripoli, Canada

☆ As Europe teeters further to the far right, the UK is doing the opposite
▼ + stars: | 2024-07-05 | by ( Matthew Loh | ) www.businessinsider.com time to read: +6 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Sunak, who conceded defeat on Friday morning UK time, will likely be replaced by Labour Party leader Keir Starmer. Labour's rise, largely telegraphed by pre-election polls, makes the UK a clear outlier in this year's political shifts in Western Europe. Still, the far-right faction there, Vox, struggled to gain a foothold, with only 9.6% of the vote, down from 12.4% in 2019. Reform UK party leader Nigel Farage on July 3, 2024.

Persons: —, it's, Rishi Sunak's, Keir Starmer, Starmer, Jeremy Corbyn, he's, Germany's Scholz, Alice Weidel, Tino Chrupalla, Chancellor Olaf Scholz's, Sean Gallup, Scholz, France's, Emmanuel Macron, Macron, FRANCOIS LO, Le, Giorgia, Massimo Di Vita, Archivio Massimo Di Vita, Spain's, Pedro Sanchez's, Vox, Geert Wilders, Nigel Farage's, Farage, Nigel Farage, Dan Kitwood, Richard Wike Organizations: Service, Conservative Party, Labour Party, Business, European Union, Parliamentary, Chancellor Olaf Scholz's Social Democratic Party, Marine, FRANCOIS LO PRESTI, Getty, Italy, June's, Democratic Party, Spain's People's Party, Party for Freedom, Nigel Farage's Reform, Reform, Pew Research Center Locations: Western Europe, Germany, Berlin, France, AFP, Italy, Europe, Netherlands, Clacton

☆ Bitcoin plummets as $9 billion Mt. Gox payout begins and government selling adds pressure
▼ + stars: | 2024-07-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Gox bitcoin recipients and government wallets. Gox still holds about 140,000 bitcoin and has started to repay creditors and former customers. The sharp decline has been accompanied by a wave of selling by notable bitcoin holders, including the defunct Mt. Fairlead Strategies highlighted $60,000 as a key support level that has since been broken. The decisive breakdown puts bitcoin's next support level target at around $51,500.

Persons: Bitcoin, Gox, —, Blockworks Organizations: Service, Bitcoin, Arkham Intelligence Locations: Mt, Gox, bitcoin, Germany

☆ Gina Gershon on Her Best Movie Roles: 'Bound,' 'Showgirls,' 'Killer Joe'
▼ + stars: | 2024-07-05 | by ( Caralynn Matassa | ) www.businessinsider.com time to read: +15 min

On defying her agents to star in 'Bound' and finding Corky's look in San Francisco lesbian barsJennifer Tilly and Gina Gershon in "Bound." I was hesitant to take on any role coming off of "Showgirls," just because, honestly, I was pretty burnt out. When the script for "Bound" was sent to us, my agents were pretty clear saying, "Listen, you are not doing this movie. On her 'Showgirls' PTSD and why she's come around on the movieGina Gershon in "Showgirls." I'm really into it."

Persons: Gina Gershon, —, It's, Gershon, Louie, who's, she's, Paul Verhoeven's, Corky, Jennifer Tilly's femme, Violet, Jennifer Tilly, Lana, Lilly Wachowski, They've, I've, Susie Bright, Jennifer, Tilly, Susie, couldn't, I'm, Let's, Elizabeth Berkley's, Lili Anolik, Paul, Verhoeven, Chekhov, I'd, That's, you've, she'd, Matthew McConaughey, Joe, Matthew McConaughey's, Tracy Letts, William Friedkin, Billy wasn't, Billy, Matthew, Nicolas Cage, Nicolas, John Woo …, John Woo, Nick Cassavetes, John, Jason Guerrasio, Cate Blanchett, Jamie Lee Curtis, Kevin Hart Organizations: Business, Pride, LD Locations: San Francisco

☆ Why Nvidia just got a rare stock downgrade
▼ + stars: | 2024-07-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Nvidia stock was downgraded to 'Neutral' by NewStreet Research on valuation concerns. AdvertisementNvidia stock got a rare downgrade on Wall Street on Friday. Ferragu said that while Nvidia still has the strongest AI franchise amongst its competitors, a "more prudent view on the stock" is necessary after its year-to-date rally of 157%. Downbeat opinions on Nvidia are rare among Wall Street analysts, with 89% of the 72 analysts who cover the company rating the stock a "Buy," according to data from Bloomberg. AdvertisementFerragu's $135 price target falls in-line with the average 12-month price target on the stock at $134.77.

Persons: Pierre Ferragu, —, Ferragu Organizations: NewStreet Research, Service, Nvidia, NewStreet, Wall Street, Bloomberg

☆ Carlos Alcaraz beats Frances Tiafoe at Wimbledon in five-set escape
▼ + stars: | 2024-07-05 | by ( Matthew Futterman | ) www.nytimes.com time to read: +5 min

Carlos Alcaraz nearly crashed out at Wimbledon on Friday at the hands of a familiar foe. 3 Alcaraz came alive, running away with the fourth-set tiebreak and the fifth set to prevail 5-7, 6-2, 4-6, 7-6(2) 6-2. Tiafoe played his best tennis of the year, or maybe even two. But with his hopes for the tournament resting on the outcome of a fourth-set tiebreak, it was Alcaraz who came alive. Tiafoe played with the fearlessness and confidence that has been missing.

Persons: Carlos Alcaraz, Frances Tiafoe, Alcaraz, “, ” Alcaraz, Tiafoe, Alcaraz’s, Jannik Sinner, American Brandon Nakashima, Ugo Humbert, Novak Djokovic, Ben Shelton, Matteo Arnaldi, Glyn Kirk, unreturnable, ”, Zac Goodwin Organizations: Wimbledon, U.S ., That’s, Alcaraz, U.S, Getty, Croatian Borna, Court Locations: American, —

☆ Stock market today: Indexes test record highs as dovish jobs report sends bond yields lower
▼ + stars: | 2024-07-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks tested record highs on Friday after the June jobs report sent bond yields tumbling. The US economy added 206,000 jobs in June, but the unemployment rate ticked higher to 4.1%. The higher unemployment rate raised hopes for imminent interest rate cuts from the Federal Reserve. AdvertisementUS stocks tested record highs on Friday after the June jobs report sent bond yields lower. The April jobs report was also revised lower to 108,000 jobs added that month, down from the initial reading of 165,000.

Persons: —, Quincy Krosby, Krosby, Brent, Bitcoin Organizations: Federal Reserve, Service, Federal, Treasury, Manufacturing, PMI Locations: Texas

☆ The AI boom will push America's shaky power grid to its limit
▼ + stars: | 2024-07-04 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

The artificial intelligence boom is straining America's power grid. All three trends have sparked ongoing concerns about the power-hungry nature of new technologies as they push America's shaky power grid to the limit. And with hundreds of millions of users already interacting with AI tools like ChatGPT, the power demand for AI technologies is only set to rise. Bank of America put into perspective the challenges faced by the power grid as it grapples with surging demand from AI data centers. AdvertisementSome eye-opening stats about the US power grid cited by Bank of America include:"The US grid produces 1,250 gigawatts (GW) of electricity from 9,200 generating units.

Persons: Baird, Ted Mortonson, —, Mortonson, Goldman Sachs Organizations: Service, Bank of America, Oracle, Wall Street Journal, Constellation Energy, Xcel Energy, NextEra, Southern Co Locations: Michigan, Pennsylvania, East, NextEra Energy

United Kingdom 2024 Election: Live ResultsThe first results are expected after 6:30 p.m. Eastern. % Seats 0 0.0 % 0 0 0.0 % 0 0 0.0 % 0 0 0.0 % 0 + Show moreBritain is voting in a parliamentary general election that could fundamentally realign its politics. Polling suggests a return to power for the center-left Labour Party, whose promises include ending a tax exemption for private schools and bringing most rail companies into public ownership. Winner No dataBut even as some forecasts indicate a crushing majority for Labour, this is increasingly far from a two-party race. Winner by ConstituencyThis table shows the results from the 2024 election in each constituency grouped by the party that won it in the last general election.

Persons: Boris Johnson, Labour’s Organizations: Labour Party, Labour, Liberal Democrats, Greens, New York Times Locations: Scotland, Wales

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