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☆ Dow falls by more than 600 points as markets continue to fret about a rate cut
▼ + stars: | 2024-05-23 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +2 min

New York CNN —The Dow tumbled by more than 600 points Thursday afternoon as all three major indexes moved lower, even after AI-darling Nvidia delivered stellar quarterly earnings and announced a 10-for-1 stock split. Chipmaker Nvidia soared more than 9% as the wider market dropped lower, highlighting a lack of market breadth. The S&P 500 and Nasdaq Composite, which began the day at new intraday highs, fell by 0.8% and 0.5%, respectively. “I think we’re set up for stickier inflation.”“The bond market set the dour mood that we see across much of the market,” wrote Interactive Brokers chief strategist Steve Sosnick on Thursday. “Coming on the back of yesterday’s ‘higher for longer’ Fed Minutes, bond traders were in no mood to hear about a strengthening economy,” wrote Sosnick.

Persons: Dow, ”, Louis Navellier, Goldman Sachs, David Solomon, “ I’m, “, Steve Sosnick Organizations: New, New York CNN, Nvidia, Nasdaq, “ Tech, Navellier, NVIDIA, Federal Reserve, resurging, Boston College, Interactive Brokers, Treasury, ’, ” Boeing Locations: New York

My condolences go out to the families that lost a loved one during yesterday’s severe weather event,” Gonzalez said. Over 531,000 customers in Harris County remain without power early Saturday following the line of storms, according to PowerOutage.us. “Isolated to scattered severe thunderstorms appear possible across portions of the Southeast and Carolinas on Saturday, and parts of the Upper Midwest,” the center said. The greatest chances for severe weather are across parts of Nebraska and Kansas, with a slight level 2 of 5 risk of severe thunderstorms issued by the Storm Prediction Center. By the end of the weekend, thunderstorm chances will diminish for most of the Southeast and Mid-Atlantic, the weather service said.

Persons: Samuel Peña, Harris County Sheriff Ed Gonzalez, Gonzalez, ” Gonzalez, David J, Phillip, –, Houston Mayor John Whitmire, ” Whitmire, Logan Riely Organizations: CNN, Houston Fire, Harris County Sheriff, Authorities, CenterPoint Energy, National Weather Service, Houston Mayor, Carolinas, Storm Prediction Locations: Houston, Southeast, Gulf, Harris County, Cypress , Texas, City, Texas, Louisiana, Houston , Texas, Mexico, Carolinas, Midwest, Plains, Nebraska, Kansas

☆ Berlin senator attacked in library amid spate of violence against German politicians
▼ + stars: | 2024-05-08 | by ( Stephanie Halasz | ) edition.cnn.com time to read: +3 min

CNN —A Berlin senator was attacked while visiting a library on Tuesday, amid what appears to be an increasing trend of violence against politicians in Germany. Franziska Giffey, Berlin senator for economy, was hit over the head with a bag containing hard material as she visited the library in her district in the German capital Tuesday afternoon, the Berlin prosecutor’s office said in a statement. Giffey, a former Berlin mayor, described the moment of the attack on Instagram, saying “I suddenly felt a hard blow to my head and neck from behind. The Green party in Saxony wrote on X that its members would continue campaigning, and would not be intimidated. It also said it would support a draft law to increase legislation around protection against attacks on politicians.

Persons: Franziska Giffey, “, Chancellor Olaf Scholz’s, Giffey, ” Scholz, Ursula von der Leyen, ” Organizations: CNN, Chancellor Olaf Scholz’s Social Democratic Party, SPD, Green Locations: Berlin, Germany, Dresden, Saxony

☆ A tech investor got brutally roasted after he shared the detailed Notion database he uses to manage his marriage. He says the haters don't get that he's just being organized.
▼ + stars: | 2024-04-12 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

Related story"I would say I'm definitely the one who drives the structure of the page and how we use Notion," Lang said. So I figured what I would do is, I would just make a parody of their responses," Lang told BI. On April 9, Lang posted a screenshot of what he said was an updated copy of his Notion template. Here’s the next iteration of my Notion template for couples. "They could be thinking, 'Oh, there's this couple who are controlled by this Notion page and it's how they live their life every moment.'

Persons: —, Ben Lang, Lang, There's, — Ben Lang, one's, “, Trung Phan, that's Organizations: Service, Business, BI

☆ A Situation Room scramble, daily calls and political intrigue: Inside the White House response to the Key Bridge collapse
▼ + stars: | 2024-04-05 | by ( Kayla Tausche | ) edition.cnn.com time to read: +8 min

ET, overnight staffers in the White House Situation Room began frantically reaching out to senior officials to notify them of the collision – and collapse – of Baltimore’s Francis Scott Key Bridge. Jen Daskal, the deputy homeland security adviser, began preparing a briefing for President Joe Biden. Two Oval Office meetings were convened as staff at various levels began trickling into the White House. Seven barges and nine tugboats have deployed to the area, according to Tom Perez, the White House director of intergovernmental affairs. In another case – that of Moore and Perez – the two have already opposed each other on the ballot.

Persons: Pete Buttigieg, Dali, Baltimore’s Francis Scott Key, Buttigieg, ” Buttigieg, Wes Moore, Baltimore Mayor Brandon Scott, Jeff Zients –, Jen Daskal, Joe Biden, “, ”, Johnny Olszewski – Biden, ” Olszewski, Biden, “ I’ve, ” Biden, –, Tom Perez, ” Perez, Perez, “ It’s, we’ve, Natalie Quillian, Moore, Perez –, that’s, ” CNN’s Donald Judd Organizations: Baltimore CNN —, US Coast Guard, CNN, Maryland Gov, Baltimore Mayor, White House, Baltimore, Coast Guard, Department of Transportation, Maryland, White, Administration, Democratic Locations: Wyoming, Montana, Maryland, Baltimore County, Washington, Delaware, Baltimore, Patapsco, synchrony, Federal, White, United States

And when Russia invades Ukraine, he immediately decided it was time for World Central Kitchen to step into a war zone. michael barbaroAfter the break, my colleague Adam Rasgon on what happened to the World Central Kitchen workers in that caravan. So Adam, what ends up happening to this convoy that our colleague Kim Severson just described from World Central Kitchen? adam rasgonSo what we know is that members of the World Central Kitchen had been at a warehouse in Deir al-Balah in the Central Gaza Strip. michael barbaroAnd so what is the reaction from not just World Central Kitchen, but from the rest of the world to this airstrike?

Persons: michael barbaro, ” I’m Michael Barbaro, Kim Severson, Adam Rasgon, Kim, kim, José Andrés, you’re, kim severson, tapas, He’s, severson, he’s, kim severson He’s, Hurricane Sandy, Hurricane Harvey, Maria, Hurricane Maria, José, he’d, Goya, couldn’t, Nobody, there’s, they’ve, — michael barbaro, Chef Olivier, We’re, we’ve, Michael Jordan, Adam, adam rasgon, Al Rashid, Israel, adam rasgon There’s, adam rasgon President Biden, —, David Cameron —, david cameron, adam rasgon —, benjamin netanyahu, adam rasgon — Benjamin Netanyahu, Herzi Halevi, WCK, rasgon, that’s, michael barbaro Adam, it’s Organizations: The New York Times, Hurricane, Army, Federal Emergency Management Agency, FEMA, National Guard, Kitchen, Central, Central Kitchen, Gaza, UN, Red Crescent, White, British, IDF, Jerusalem Bureau Locations: Gaza, Haiti, Spanish, America, Washington ,, New York, DC, Miami, Hurricane, Houston, Puerto Rico, José, Russia, Ukraine, Poland, Lviv, Israel, North Gaza, Great Britain, Asia, Central America, Deir al, Rafah, Palestine, Jerusalem, Cyprus

☆ Deaths of World Central Kitchen workers touches off fury inside Biden White House
▼ + stars: | 2024-04-02 | by ( Mj Lee | ) edition.cnn.com time to read: +2 min

Biden’s statement Tuesday evening that mourned the deaths of the seven workers included some of the most fiery and blunt language from the president since the start of the Israel-Hamas war in October. He explicitly blamed Israel for failing to protect aid workers and civilians, and he said, “Incidents like yesterday’s simply should not happen.”The strike on the World Central Kitchen workers has been a “standout incident” as far as the Biden White House is concerned, the official said, prompting serious consternation and concern in what had already been a moment of high tensions between the US and Israel. The president discussed the deaths of the workers with a small group of Muslim community leaders at the White House Tuesday, according to one of the attendees. Some of the participants were doctors who have spent time in Gaza and have seen first-hand the plight of the Palestinian civilians there. One of them, CNN reported, walked out of the meeting early in a show of protest.

Persons: Joe Biden, “, ”, –, Biden, Israel, Salima Suswell Organizations: CNN, Central, Biden White, White, Black Muslim Leadership Council Locations: Israeli, Gaza, Israel

The steel frame of the Francis Scott Key Bridge sits on top of the container ship Dali after the bridge collapsed on Tuesday. After the 1980 collision, he argued, more substantial dolphins or a fendering system should have been added to the Key Bridge. “You knock out one of the support posts, the entire bridge collapses.”The Key Bridge is hardly unique among large bridges in its age. Some other bridges that cross major shipping routes are designed with more extensive protections than the Key Bridge’s. In the wake of the Key Bridge collapse and with the rise of larger container ships, some experts said that engineers should reassess necessary bridge safety features.

Persons: Baltimore’s Francis Scott Key, It’s, Dali, Francis Scott Key, Jim Watson, ”, Rick Geddes, Wes Moore, That’s, Jean, Paul Rodrigue, Martin Bernetti, “, Mark Wilson, Hussam Mahmoud, Rod Sullivan, Arthur Ravenel Jr, Savannah’s Talmadge, Los Angeles ’ Vincent Thomas Bridge, ” Geddes, Barzin Mobasher, Mobasher, ” CNN’s Daniel Medina, Majlie, Puy, Yahya Abou, Ghazala Organizations: CNN, Getty, Cornell University’s Program, National Research, Evening Sun, Coast Guard, Sun, Maryland Gov, Texas, M University, Galveston, National Research Council, Maryland Transportation Authority, Francis Scott Key Bridge, Colorado State University, Sunshine Skyway, Tampa Tribune, New, Bridge, Arizona State University Locations: Bridges, Baltimore, AFP, Nagoya, Dali, Panama, United States, Panama City, Baltimore , Maryland, Tampa, Florida, Charleston , South Carolina, Los Angeles

CNN —At least 12 Palestinians drowned off the northern Gaza coast near Beit Lahia on Monday while trying to reach airdropped parcels that had landed in the sea, according to local paramedics. Abu Mohammad, who witnessed the incident, told CNN the aid was dropped far from the coast into the sea, after which multiple men “who don’t know how to swim drowned” while trying to retrieve it. Aid parcels are dropped onto the shores of Gaza. Palestinians retrieve an aid parcel from the sea. These humanitarian aid drops occur over water and the wind causes the bundles to drift over to land.

Persons: Abu Mohammad, “, ”, haven’t, Al, airdrops, ” Israel, Washington, Israel Katz, Sabrina Singh, Beit, ” Abu Mahmoud al, Nather Organizations: CNN, Hamas, Oxfam, Human Rights Watch, UN Security Council, Security, Amnesty International, Israel Defense Forces, Pentagon Locations: Gaza, Beit Lahia, Al Shati, Gaza City, UN, Israel, Israeli, Egypt, Germany, US, Singapore, UAE, Jordanian

☆ The Election is Set
▼ + stars: | 2024-03-06 | by ( Nate Cohn | ) www.nytimes.com time to read: +1 min

It’s Biden vs. Trump. The general election is about to begin. He’s an incumbent president with a strong economy and an opponent facing trial for multiple alleged crimes. Yet according to the polls, Trump begins the general election campaign in the lead. This is not what many expected from a Biden-Trump rematch, especially after Democrats were resilient in the midterms and excelled in special elections by campaigning on issues like democracy and abortion.

Persons: It’s Biden, It’ll, Biden, He’s, Trump Organizations: Trump, Biden Locations: Michigan , Nevada , Arizona, Georgia

☆ Despite Japan’s economic recession, Asian stocks rise
▼ + stars: | 2024-02-16 | by ( Diksha Madhok | Juliana Liu | ) edition.cnn.com time to read: +3 min

Hong Kong/New Delhi CNN —Japan’s stock market defied gloomy economic data to rally Friday, lifting broader Asian shares and ending the week on a buoyant note. Japan’s benchmark Nikkei 225 index closed above 38,000 points for the second day in a row, just a whisker off its historic peak reached in December 1989. “If anything, the window of opportunity created by the weak yen is encouraging international investors, as they suspect it will close soon,” he added. The MSCI’s broadest index of Asian shares excluding Japan closed more than 1% higher. On Wall Street, the S&P 500 closed at a record high of 5,029.73 Thursday as US stocks bounced back from steep losses earlier this week.

Persons: ”, Neil Newman, Stephen Innes, Austan Goolsbee, Innes, Korea’s Organizations: Hong Kong / New Delhi CNN, Analysts, Japan, Dow, Nasdaq, Federal Reserve, Fed, Chicago Fed Locations: Hong Kong / New Delhi, Tokyo, United Kingdom, Asia, Pacific, New York, China

☆ South African innovator’s medicine-dispensing lockers win prestigious prize
▼ + stars: | 2024-02-01 | by ( Nell Lewis | ) edition.cnn.com time to read: +5 min

London CNN —A South African entrepreneur who designed a smart locker system that improves access to healthcare has won a major award for African engineering. In June, the usual iteration of the Africa Prize will also go ahead, during which four finalists will battle it out for a £25,000 ($31,600) prize. “There isn’t enough funding available for African startups,” she tells CNN. “We don’t want all the funding to come in the form of grants, as we see in the Africa Prize. We want investors to start to believe that they can also make money by investing in African startups.

Persons: Pelebox, King Charles III’s, Anne, James Oatway, Royal Academy of Engineering Hutiri, ’, ”, Aisha Raheem, Farmz2U, Samuel Njuguna, Rebecca Enonchong, It’s, That’s, “ Organizations: London CNN, UK’s Royal Academy of Engineering, Africa, Engineering Innovation, Academy, SMS, Royal Academy of Engineering, “, CNN, Chura, The Academy Locations: African, London, South Africa, Namibia, Botswana, Africa, Nigerian, Kenya, Nigeria, Egypt

CNN —Belarus has conducted mass raids, interrogations and arrests of dozens of friends and relatives of political prisoners, a Belarusian human rights group said, in the regime’s latest crackdown on dissent. The Belarusian KGB reportedly came to the homes and workplaces of the friends and family of political prisoners, interrogating around 100 people and arresting at least 26 others. Maryna Adamovich, the wife of political prisoner and former presidential candidate Mikalai Statkevich, was sentenced to 15 days in prison for “petty hooliganism,” the human rights group said. Norway’s Foreign Ministry said it was “deeply concerned by yesterday’s arrest of Maryna Adamovich, other human rights defenders and their family members.” It called for all political prisoners to be released immediately. “Over the past year, Belarusian authorities doubled down to create an information vacuum around raging repressions by cutting political prisoners off from the outside world and bullying their lawyers and families into silence,” the group said.

Persons: ”, Viasna, ” Viasna, Maryna Adamovich, Mikalai Statkevich, Sviatlana Tsikhanouskaya, ” Tsikhanouskaya, Alexander Lukashenko, “, Maryna Organizations: CNN, Belarusian State Security Committee, Belarusian KGB, Human Rights, Belarusian State Security, Ministry, Dutch Foreign Ministry, Rights Watch Locations: Belarus, Belarusian

☆ Hybrid Cars Enjoy a Renaissance as All-Electric Sales Slow
▼ + stars: | 2024-01-17 | by ( Lawrence Ulrich | ) www.nytimes.com time to read: +1 min

As Teslas and other electric vehicles dazzled car buyers with futuristic technology and dreams of a gasoline-free future, hybrid cars began to seem like yesterday’s news. Now, a slowdown in the growth of electric car sales has led General Motors, Ford Motor and Volkswagen to walk back ambitious targets for those vehicles. “Consumers want the same experience they’ve had” with a combustion engine car, said Stephanie Valdez Streaty, director of industry insights for Cox Automotive. But hybrid sales rose even faster, up 65 percent to more than 1.2 million, lifting their market share to 8 percent from 5.5 percent, according to Edmunds. Throw in plug-in hybrids, and nearly one in 10 new cars pairs a gasoline engine with electric motors to save fuel and boost performance.

Persons: they’re, they’ve, Stephanie Valdez Streaty, Price, Cox, Edmunds Organizations: Toyota Prius, Motors, Ford Motor, Volkswagen, Cox Automotive

☆ North Korea’s Kim vows to dismantle father’s unification arch as he declares South Korea ‘principal enemy’
▼ + stars: | 2024-01-16 | by ( Brad Lendon | Gawon Bae | ) edition.cnn.com time to read: +6 min

The Kim family, beginning with Kim Il Sung, has ruled North Korea since its post-World War II founding in 1948. It symbolizes the efforts of Kim Jong Il and Kim Il Sung to set guidelines for uniting North and South Korea. South Korea not backing offOn Tuesday, South Korean leader Yoon Suk Yeol said his government will not be cowed by Kim’s latest threats. “If North Korea provokes, we will punish them multiple times as hard,” Yoon said at a Cabinet meeting in Seoul. Yoon, who has taken a much harder line on North Korea than his predecessors, said the South’s quarrel was with the Kim regime, not the people of North Korea.

Persons: Kim Jong Un, ”, Kim, Kim Jong Il, Kim Il, Kim Il Sung, “, Kim Jong, Jeong Eun, National Reunification ’ …, ’, ” Kim, KCNA, Leif, Eric Easley, “ Kim, ” KCNA, Yoon Suk Yeol, ” Yoon, Yoon Organizations: South Korea CNN — North, People’s Assembly, North Korean, Korea Institute for National Unification, National Reunification, Ehwa University, Democratic People’s, North, CNN, National Economic Cooperation Bureau, Kumgangsan, Tourism Administration, ROK, DPRK, United Nations, NLL Locations: Seoul, South Korea, Pyongyang, North Korea, North, Democratic People’s Republic of Korea, DPRK, North Korea’s, Republic of Korea, Korean, Korea, South

☆ Trump Left Iowa With Momentum and a Court Date
▼ + stars: | 2024-01-16 | by ( Matthew Cullen | ) www.nytimes.com time to read: +1 min

The Iowa caucuses could hardly have gone better for Donald Trump. Now the race moves on to New Hampshire, where next week’s primary is perhaps the last clear chance for one of Trump’s rivals to slow him. Nikki Haley has banked on independents there, and one poll this month showed her at 32 percent, just seven points behind Trump. But her third-place showing in Iowa suggested that Ron DeSantis would continue challenging her, despite lacking a clear path forward. His decision to appear, under no obligation, reflected his effort to use the legal threats against him to energize his supporters.

Persons: Donald Trump, Nikki Haley, Ron DeSantis, there’s, Shane Goldmacher, Trump, Jean Carroll Organizations: Republican, Trump Locations: Iowa, New Hampshire, Manhattan

☆ DeSantis is fighting for his political life along Iowa’s icy campaign trail
▼ + stars: | 2024-01-14 | by ( Stephen Collinson | ) edition.cnn.com time to read: +10 min

But on the eve of the caucuses, DeSantis is on the brink in a state where he’s banked his entire campaign. Big donors soon discovered that the Florida governor could be a flat and uninspiring candidate. It was a cringeworthy moment that could become a pitiful emblem of busted hopes if the Florida governor doesn’t mount a comeback on Monday. “If the number that we have is anywhere close to reality, he’s going to have a very, very good night,” Vander Plaats said. An Iowa defeat for DeSantis would be especially bitter, because after months on the trail, he’s a far more polished candidate.

Persons: Ron DeSantis, Donald Trump, DeSantis, Nikki Haley, Trump, “, ” DeSantis, he’s, – Jeb Bush, Marco Rubio, Scott Walker, Haley, ”, Jake Tapper, It’s, Trump’s, Anthony Fauci, invigorated, weaponizing, she’s, DeSantis remorselessly, Ron, doesn’t, Mike Huckabee, Pennsylvania Sen, Rick Santorum, Texas Sen, Ted Cruz, Bob Vander Plaats, ” Vander Plaats, He’s, “ Donald Trump, Steve Deace, “ Ron DeSantis, ” Deace, postmortems, “ He’s, That’s, I’m, Fox, Bob Rommel Organizations: Des Moines , Iowa CNN, Florida Gov, Republican, GOP, Republicans, Des Moines Register, NBC, South Carolina Gov, PAC, Wisconsin Gov, South, Trump, Iowa, Walt Disney Company, Yale, Harvard, Elon, Twitter, CNN, West, Arkansas Gov, Texas, Fox News, Fox Locations: Des Moines , Iowa, Florida, Iowa, South Carolina, New Hampshire, “ State, Texas, West Des Moines, Pennsylvania, Urbandale , Iowa, Naples

WASHINGTON (AP) — While the scandals in the cryptocurrency industry seem to never end, Washington policymakers appear to have little interest in pushing through legislation to codify the structure of the industry. The latest shoe to drop is Binance’s multibillion dollar settlement with U.S. authorities and the resignation of its CEO this week. When cryptocurrencies collapsed and a number of companies failed last year, Congress considered multiple approaches for how to regulate the industry in the future. Brown has been highly skeptical of cryptocurrencies as a concept and he’s been generally reluctant to put Congress’ blessing on them through legislation. Yesterday’s development marks the same inflection point that we saw earlier at the intersection of the .com and post-.com eras.”

Persons: Sam Bankman, cryptocurrencies, Janet Yellen, Changpeng Zhao, Zhao, Binance, General Merrick Garland, — Binance, Debbie Stabenow, John Boozman, Sen, Sherrod Brown, Brown, He’s, ” Brown, Fried, can’t, ”, Dennis Kelleher, Yiannis Giokas Organizations: WASHINGTON, Treasury, White, Biden Administration, Binance, U.S . Treasury, U.S, Securities and Exchange Commission, Coinbase, SEC, PayPal, Futures Trading Commission, Agriculture Committee, U.S ., Financial Services, Senate, Consumer, Better, Moody’s Analytics, U.S . Authorities Locations: Washington, United States, Cayman Islands, Ohio, stablecoins, U.S

☆ A Left Turn for Democrats in New Hampshire?
▼ + stars: | 2023-11-22 | by ( Louis Jacobson | ) www.usnews.com time to read: +8 min

Since their narrow victories in 2016, Democrats have won every federal race in New Hampshire – and have done so by widening margins. But Sununu, the scion of a New Hampshire Republican dynasty, decided not to run for a new term in 2024. Depending on vacancies and special elections, the Democrats might be able to flip control of the chamber even before the 2024 election. Under Biden, Democrats changed the order of their primaries to place New Hampshire tied for second, rather than first. Regardless, the unusual nature of the 2024 primary could have negative consequences for Democrats, Galdieri said.

Persons: Hillary Clinton, Donald Trump, Maggie Hassan, Republican Sen, Kelly Ayotte, Trump, Republican Party –, Joe Biden, Louis Jacobson, It’s, Kenneth M, Johnson, Dante Scala, Andrew Smith, Smith, ”, Chris Galdieri, Karoline Leavitt, Bob Burns, Don Bolduc, ” Galdieri, Biden, Biden’s, Robert F, Kennedy Jr, Cornel West, Ron DeSantis, Nikki Haley, Chris Sununu, Republicans ’, Sununu, “ Donald Trump, ” Sununu, “, He’s, there’s, Dean Phillips, Phillips, Galdieri, Barack Obama Organizations: MANCHESTER, Republicans, Republican, Republican Party, GOP, New Hampshire –, Democrats, Democratic, U.S . News, New, University of New, Anselm College in, Biden, Trump, CNN, Emerson College, South Carolina Gov, New Hampshire Republican, New Hampshire, New Hampshire Democratic Locations: N.H, New Hampshire, Massachusetts, University of New Hampshire, Anselm College in Manchester, New England, Hampshire, Israel, Gaza, New, Minnesota

The board of OpenAI, the company behind hit product ChatGPT, on Friday pushed out its high-profile CEO Altman, sending shock waves across the tech industry. These discussions, and options regarding our path forward, are ongoing this morning," Lightcap wrote in the memo. "We can say definitively that the board’s decision was not made in response to malfeasance or anything related to our financial, business, safety, or security/privacy practices," he wrote. "This was a breakdown in communication between Sam and the board." Reporting by Anna Tong in San Francisco; editing by Kenneth Li and Franklin PaulOur Standards: The Thomson Reuters Trust Principles.

Persons: Sam Altman's, Sam, Brad Lightcap, Altman, Mira Murati, Greg Brockman, Brockman, Szymon Sidor, Lightcap, Anna Tong, Kenneth Li, Franklin Paul Organizations: Microsoft, Reuters, Franklin Paul Our, Thomson Locations: San Francisco

Underscoring the frustration, Economy Minister Robert Habeck, a member of the pro-spending Greens, called the verdict "a huge blow to industrial policy". Speaking to parliament, Habeck warned the court ruling put at risk support for the steel sector, which is counting on subsidies to decarbonise and stay competitive. Finance Minister Christian Lindner meanwhile said it was too early to discuss the consequences of the court ruling. "The steel industry alone can contribute to reducing a third of total industrial emissions - and thus has enormous leverage to save millions of tons of CO2 in the coming years." "The political bottom line is that many coalition disputes will reopen as serious budget constraints kick in.

Persons: Olaf Scholz, Christian Lindner, Robert Habeck, BERLIN, Wednesday's, Chancellor Olaf Scholz, Habeck, Yesenn, DBRS Morningstar, hawkish Lindner, Lindner, Bernhard Osburg, Carsten Brzeski, Eurointelligence, Maria Martinez, Christian Kraemer, Andreas Rinke, Markus Wacket, Tom Kaeckenhoff, Matthias Williams, Alexandra Hudson, Susan Fenton Organizations: Finance, Climate, Economy, Greens, CHANGE, Budget, European Central Bank, Thomson Locations: United States, Berlin, Germany

The Labor Department reported Wednesday that its producer price index — which measures inflation before it hits consumers — dropped 0.5% in October from September, the first decline since May and biggest since April 2020. On a year-over-year basis, producer prices rose 1.3% from October 2022, down from 2.2% in September and the smallest gain since July. The year-over-year gain in core producer prices was the smallest since January 2021. The wholesale price of goods fell 1.4% from September to October, pulled down by a 15.3% drop in the price of gasoline. Year-over-year wholesale inflation, for instance, has dropped since hitting 11.7% in March 2022.

Persons: —, Matthew Martin Organizations: WASHINGTON, —, Labor Department, Oxford Economics, CPI Locations: U.S

Good news for global marketsYesterday’s impressive rally in U.S. stocks and bonds has gone worldwide this morning, as investors see central banks making gains in their fight against inflation. Adding to the good news was a breakthrough in the House last night that could avert a government shutdown. The question now is whether this represents a false dawn on inflation, or the start of a durable decline in rising costs — and interest rates. President Biden, whose poll ratings have been hurt by inflation, also cheered the numbers. And consumer spending and industrial output in China rebounded last month, a hopeful sign for the world’s No.

Persons: Biden Locations: Britain, China

Yesterday’s elections went well for the Democratic Party. Andy Beshear won re-election in normally red Kentucky, 53 percent to 48 percent, by emphasizing his support for abortion rights and the economic benefits of Biden administration policies. In increasingly red Ohio, voters overwhelmingly passed a constitutional amendment that keeps abortion legal until roughly 23 weeks of pregnancy. Since the Supreme Court overturned Roe v. Wade, all seven states to have voted on abortion rights have chosen to protect or expand them. Miles Coleman, an election analyst at the University of Virginia, said of abortion.

Persons: Andy Beshear, Biden, Roe, Wade, Glenn Youngkin’s, ’, ” J, Miles Coleman, “ It’s, ” Organizations: Democratic Party, Gov, State Senate, Youngkin, University of Virginia Locations: Kentucky, Ohio, Virginia

☆ Rise in yield isn’t over yet, says Damped Spring’s Andy Constan
▼ + stars: | 2023-10-13 | 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 EmailRise in yield isn’t over yet, says Damped Spring’s Andy ConstanAndy Constan, Damped Spring Advisors, joins ‘Fast Money’ traders to discuss digging in on rates and the impact of yesterday’s auction.

Persons: Andy Constan Andy Constan Organizations: Advisors

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