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Some business owners have started stockpiling popular products — specifically tequila, which can be made only in Mexico — and taking other actions to help stave off potential price hikes. At this stage, the tariffs are technically still just talk, with plenty of caveats and scenarios strewn about. Meximodo, a restaurant in Metuchen, New Jersey, holds a Guinness World Records title for its collection of tequila, mezcal and agave spirits. In 2023, the US imported $5.69 billion of beer and $4.81 billion of alcohol from Mexico, according to International Trade Administration data. The Grupo Modelo factory in Mexico City, Mexico, on May 15, 2020.
Persons: CNN —, they’re, Donald Trump, , Dave Williams, Bump, Noble, Chris Carey, Williams, , Meximodo, TJ Pingitore, Le Malt’s, Alexander Lewis, ” Pingitore, ” Saurabh Abrol, Abrol, Hector Vivas, it’s, Chris Swonger, ” Swonger, Swonger, Katie Marisic, Justin Sullivan, Marisic Organizations: CNN, CNN — Beer, Modelo, Bump Williams Consulting, Constellation Brands, Le Malt Hospitality, North, USA, International Trade Administration, Trade Administration, Grupo Modelo, European Union, Brewers Association, Trump, “ Breweries Locations: Canada, Mexico, Corona, Wells Fargo, Mexican, Metuchen , New Jersey, Meximodo, North America, New York, China, United States, Mexico City, American, San Carlos , California
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCrowdStrike is well-positioned for recovery next year after July outage caused some customer churnAndrew Nowinski of Wells Fargo discusses CrowdStrike business outlook after reporting earnings for "the most challenging" quarter ever.
Persons: Andrew Nowinski Locations: Wells
To counter that, Jim Cramer has said investors should not lose sight of what can go right for their stocks. Smooth chip updates: AMD needs to successfully carry out its annual release cycle for AI chips. That needs to be sustained to justify Meta's heavy spending on AI chips. Nevertheless, correcting this dynamic should translate into faster revenue growth rates. Palo Alto Networks Bigger deals: Cybersecurity is a secular growth market: As the number of bad actors grows, companies can't afford to not invest in defense.
Persons: Jim Cramer, Abbott, Donald Trump, Trump, Joe Biden, Eaton, Eli Lilly, Eli Lilly's GLP, Lilly, Hurricanes Helene, Milton, Elliott Management's, Elliott, Jim, Linde, Morgan Stanley Lower, Morgan, Biden, , Jensen Huang, Palo, Stanley Black, Brian Niccol's, Wells, Jim Cramer's, Timothy A, Clary Organizations: Abbott, Devices, Microsoft, AMD, Nvidia, Justice Department, Services, Trump, Apple, Apple Intelligence, Federal, Bristol Myers Squibb, Bristol Myers, Broadcom, Constellation Brands, Modelo, Costco, U.S, Netflix, Coterra Energy, LNG, DuPont, GE Healthcare, GE, Hurricanes, Honeywell Business, Honeywell, Linde, Meta, Facebook, Federal Reserve, GOP, Nvidia's, Industry, Palo Alto, Decker, Starbucks, Walt Disney Parks, TJX, Jim Cramer's Charitable Trust, CNBC, Traders, New York Stock Exchange, Getty Locations: U.S, BlackRock, Corona, China, Dover, , New York City
AdvertisementDonald Trump's proposed tariffs could raise car prices, impacting US and European automakers. Tariffs may cost carmakers 17% of annual earnings and lead to credit downgrades, per S&P Global. President-elect Donald Trump's new tariff proposals could hit American and European carmakers hard — and could push prices up for your next car. AdvertisementHigher tariffs could hit General Motors, Jaguar Land Rover, Stellantis, and Volvo hardest, S&P Global said. These tariffs could push car prices higher and lead Americans to dig deeper into their wallets for another vehicle.
Persons: Donald Trump's, Kelley, Trump, Joe Biden's, Claudia Sheinbaum, Justin Trudeau, Sheinbaum, Trudeau, Friday Organizations: P Global, General Motors, Rover, Volvo, EU, Motors, BMW, Ford, Hyundai, Mercedes, Benz, Trump, Commerce Department, Business, Canada's Locations: European, Canada, Mexico, Wells, United States
AdvertisementDonald Trump said he'd put in place 25% tariffs on Mexican and Canadian imports upon taking office. This would push up prices for US-assembled cars by an average of $2,100, according to Wells Fargo. President-elect Donald Trump's proposed tariffs on Mexico and Canada would drive up the price of cars assembled in the US by an average of $2,100, according to estimates made by analysts at Wells Fargo. "Autos are stuck in the middle of Trump's geopolitics," the analysts said in a note on Wednesday, per Fortune. AdvertisementHowever, he said doing so may be more difficult than Trump expects due to massive US investments in Mexico.
Persons: Donald Trump, he'd, Donald Trump's, Trump, Wells Fargo, Wells, Claudia Sheinbaum Pardo, Sheinbaum, Colin Lewis, Marcelo Ebrard Organizations: , Motors, Ford Motor Company, Ford, London School of Economics, Trump, Ebrard, ~$ $ Locations: Wells Fargo, Mexico, Canada
Wendy Williams has become “cognitively impaired and permanently incapacitated,” according to a memo filed by her guardian’s lawyers. Williams was diagnosed in 2023 with primary progressive aphasia and frontotemporal dementia, her team said in a statement in February. The filing is part of a lawsuit Morrissey filed against A&E Television Networks, Lifetime Entertainment Services, and others in connection with the release of the docuseries “Where is Wendy Williams?” in February. Williams hosted the “The Wendy Williams Show” from 2008 to 2021. Sherri Shepherd took over the time slot in 2022, before “The Wendy Williams Show” was eventually canceled.
Persons: Wendy Williams, Sabrina Morrissey, Williams, Morrissey, , Morrissesy, ” Williams, Graves, Sherri Shepherd, Wells Fargo, TODAY.com, Wendy Organizations: Mayo Clinic, E Television Networks, Lifetime Entertainment Services, , Variety, NBC, NBC News Locations: New York, Wells Fargo, Wells
AdvertisementElon Musk says he wants to eliminate the Consumer Financial Protection Bureau. The CFPB was created after the 2008 crisis to protect consumers from financial abuses. "Delete CFPB," Musk wrote on X early Wednesday of the Consumer Financial Protection Bureau. The agency investigates consumer complaints related to credit cards, loans, bank accounts, and debt collection and enforces consumer protection laws. Earlier this year, the CFPB also limited credit card late fees to $8 a month, compared to the average $32 fee charged by issuers in 2022.
Persons: Elon Musk, Musk, Vivek Ramaswamy, Dodd, Frank, Democratic Sen, Elizabeth Warren, Barack Obama, Warren, Wells Fargo, who've, , Clarence Thomas Organizations: Financial, Bureau, Elon, Consumer Financial, Trump, Government, Trump Administration, Congress, Democratic, Harvard Law School, Personnel Management, Bank of America, of America, Apple, Google, Federal Locations: Wells Fargo, Wells
In today's big story, the world reacts to Donald Trump's latest trade plans , which could be a massive negotiation tactic . Michael M. Santiago/Getty ImagesThe man who dubbed himself a master negotiator is upending the global trade market with his latest tactic. AdvertisementThe world is reacting to President-elect Donald Trump's new trade proposals targeting China, Mexico, and Canada. There's a lot to unpack, so let's break it down:So, Trump finally gave us an update on his tariff plans. He's telegraphed his plans for hammering Chinese imports, but a 25% tax on Canadian and Mexican goods was a shock.
Persons: Donald Trump's, Trump, Michael M, He's, Will, Justin Trudeau, Claudia Sheinbaum's, Jenny Chang, Rodriguez, Goldman, Scott Wren, Wells Fargo's, They've, Elon Musk's, Omead Afshar, Afshar, Prince Williams, Bill Clark, Astrida Valigorsky, Alyssa Powell, Kendrick Lamar, Drake, Dan DeFrancesco, Grace Lett, Ella Hopkins, Hallam Bullock, Amanda Yen, Milan Sehmbi Organizations: Business, Affordable, Canadian, Trump, US, Companies, Getty, JPMorgan, Deutsche Bank, BI, Tesla, North, Spotify, Universal Music, Wall Street Locations: China, Russia, Mexico, Canada, Canada's, East, New York, Chicago, London
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPost-election rally not a rotation based on fundamentals, says Wells Fargo's ChristopherPaul Christopher, Wells Fargo Investment Institute head of global investment strategy, joins CNBC's 'The Exchange' to discuss market outlooks.
Persons: Wells Fargo's Christopher Paul Christopher Organizations: Wells Fargo Investment Institute Locations: Wells Fargo
President-elect Donald Trump has called for cutting the corporate tax rate – and a slate of companies could stand to benefit, according to an analysis from Wolfe Research. That would be a reduction from the current corporate tax rate of 21%. A corporate tax rate of 18% would increase S & P 500 earnings per share by $5, while a 15% rate would lift earnings per share by $10, he said. Senyek's team identified companies that could see the greatest impact on their earnings per share from a lower tax rate. Wolfe also highlighted Amazon in its list of companies that could benefit from a lower corporate tax rate.
Persons: Donald Trump, Chris Senyek, Wolfe, Peter Supino, Biden, Supino, LSEG, Wells, Ken Gawrelski, AMZN, Fiserv, Goldman Sachs, Trump Organizations: Wolfe Research, Trump, White House, Republicans, GOP, US, Warner Bros, Discovery, Warner, White, ., Bank of America Locations: China, Wells Fargo
CrowdStrike delivered a very good quarter after Tuesday's closing bell, with management raising its full-year outlook on sales, operating income, and earnings. Mortgage rates dropped last week, pushing home loans for purchases up 12% week over week and 52% year over year. Best Buy shares were steady Wednesday morning after their nearly 5% post-earnings drop in the previous session. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .
Persons: CrowdStrike, Wells, Donald Trump, Kevin Hassett, Hassett, Stanley Black, Decker, Jim Cramer, We're, — CNBC's Zev Fima, Jim Cramer's, Jim Organizations: Dow, Nasdaq, Street, RBC, Dell, HP, Wall Street, National Economic Council, of Economic Advisers, Apple, Financial Times, Citi, holding's, Disney, Comcast's Universal, Paramount, Comcast, NBC Universal, CNBC, Jim Cramer's Charitable Locations: Wells Fargo, China
Packages of Modelo Especial beer are displayed for sale in a grocery store on June 14, 2023 in Los Angeles, California. Shares of Constellation Brands fell 4% in morning trading after President-elect Donald Trump announced plans to place a 25% tariff on Mexican imports once he's inaugurated. Constellation imports all of its beer from Mexico, including Modelo and Corona. To offset the tariffs, Constellation would likely raise prices. Thanks to an antitrust settlement between Anheuser-Busch InBev , Grupo Modelo and the Department of Justice in 2013, AB InBev had to sell Modelo's U.S. business to Constellation.
Persons: Donald Trump, he's, Trump's, Chris Carey, Bud Light, Roth, Bill Kirk, Trump Organizations: Modelo Especial, Constellation Brands, Constellation, Modelo, Corona . Beer, Wells Fargo Securities, Anheuser, Busch InBev, Grupo Modelo, Department of Justice, InBev, General Motors Locations: Los Angeles , California, Mexico, Corona, Wells Fargo, U.S, Canada, China
While economists say this holiday shopping season could ultimately be the most normal one (sales-wise) since before the pandemic, it’s also decked out with plenty of uncertainty. While it would set a new record as well (keep in mind, those figures aren’t adjusted for inflation), this holiday season might be a little more muted than last. A shortened holiday seasonA short shopping season, however, may force the hands of retailers who are looking to hold back on deep promotions. This year, there are 26 days between Thanksgiving and Christmas, marking the shortest holiday shopping season possible. Courtesy Dan MarshallMarshall remains quite optimistic that Mischief will enjoy yet another strong Black Friday, Small Business Saturday and, ultimately, holiday season.
Persons: It’s, it’s, , Neil Saunders, “ it’s, Frederic J . Brown, TJ Maxx, Scrooge ‘, Saunders, ” Franklin Bracken, Locker, Bing Guan, ” Bracken, Jeffrey Davidson, , ” Davidson, Shannon Grein, “ It’s, Seth Wenig, TransUnion, Charlie Wise, TransUnion’s, Wise, Brendan McDermid, Dan Marshall, Marshall, Dan Marshall Marshall, “ We’re, , they’ll Organizations: CNN, B Department, Jersey Shore, National Retail Federation, GlobalData, Getty, Walmart, Target, Goldman, Global Retailing Conference, Bloomberg, Black, University of Michigan, Reuters, November’s University of Michigan, University of Locations: Jersey, Las Vegas , Nevada, AFP, New York, New Jersey, Wells Fargo, Ramsey , New Jersey, Wells, New York City, Oxford, St, Paul , Minnesota
Eli Lilly shares soared Tuesday on a one-two punch of good news. The second positive development for Eli Lilly comes from Amgen , which reported mid-stage trial results for its experimental obesity treatment known as MariTide. Big picture The prospect of across-the-board coverage of obesity drugs for Medicare and Medicaid enrollees would be a financial win for Eli Lilly, particularly on the Medicare front. For its part, Eli Lilly has said regulators could expand Zepbound's label to cover obstructive sleep apnea by year-end. An Eli Lilly & Co. Zepbound injection pen arranged in the Brooklyn borough of New York, US, on Thursday, March 28, 2024.
Persons: Eli Lilly, Jim Cramer, Biden, Lilly, didn't, Wegovy, Zepbound, Biden administration's, Donald Trump, Wells, Robert F, Kennedy Jr, Trump, Kennedy —, Kennedy, Novo, Leerink, Eli Lilly's tirzepatide, Piper Sandler, tirzepatide, Piper, Jim, Amgen's, retatrutide, Jim Cramer's, Shelby Knowles Organizations: Novo Nordisk, Medicaid, NBC News, White, Medicare, Centers, Services, STOP, Alliance, Wells Fargo, of Health, Human Services, Food and Drug Administration, Senate, Biden, Club, CNBC, Bloomberg, Getty Locations: New York, Texas, Amgen, Lilly, Brooklyn
The i Shares MSCI USA Momentum Factor ETF (MTUM) is an fund with more than $13 billion in assets under management, according to FactSet. The changes include adding AT & T , T-Mobile and Oracle , while removing Coca-Cola , Lockheed Martin and NextEra Energy , according to Harvey. "With the sector changes ... the largest factor changes in the new MTUM index include: (1) higher beta; (2) lower profitability; and (3) higher leverage," Harvey said. Other notable changes include the addition of AbbVie and the removal of Eli Lilly . How it works MTUM officially tracks the MSCI USA Momentum SR Variant Index, a tweaked version of MSCI's regular USA momentum index.
Persons: Wells Fargo's Christopher Harvey, Lockheed Martin, Harvey, Eli Lilly, MTUM, rebalance, Robert Hum, It's, it's Organizations: Mobile, Oracle, Lockheed, NextEra Energy, Beta Locations: BlackRock
Here are the biggest calls on Wall Street on Tuesday: Wells Fargo upgrades Eastman Chemical to overweight from equal weight Wells Fargo says the chemical company is "attractive." HSBC downgrades Goldman Sachs & Morgan Stanley to hold from buy HSBC said the risk/reward is a less attractive. KeyBanc reiterates Nvidia as overweight The firm says it sees "limited competitive risks" for Nvidia shares. Wells Fargo reiterates Starbucks as overweight Wells raised its price target on the stock to $115 per share from $110. Redburn Atlantic Equities reiterates Amazon as buy The firm raised its price target on the stock to $235 per share from $225.
Persons: Wells Fargo, HSBC downgrades Goldman Sachs, Morgan Stanley, Baird, Bernstein, KeyBanc, it's bullish, TD Cowen, Pinterest, Cowen, Wells, Guggenheim, Michael Kors, UAL Organizations: Eastman Chemical, UBS, HSBC, Royal Caribbean, Nvidia, Bank of America, Citi, Chevron, ExxonMobil, SPX, JV, China, Guggenheim, Capri Holdings, Barclays, Apple, and Department of Justice, Google, DoJ, UBS reinstates United, Alaska Airlines, Amazon Web Services, Anheuser, Busch InBev, GAP Locations: Caribbean, China, Delta, DAL
Shoppers walk along 5th Avenue on Black Friday in New York, US, on Friday, Nov. 25, 2022. Bloomberg | Bloomberg | Getty ImagesRetailers hype Black Friday sales, and it works. According to WalletHub's 2024 Best Things to Buy on Black Friday report, 41% of items at major retailers offer no savings compared with their pre-Black Friday prices. What not to buy on Black FridayTypically, Black Friday is a great time to find rock-bottom prices on fall clothing — including flannels, denim, coats and accessories — as well as televisions and consumer electronics. In-store Black Friday spending is expected to grow by 7.3 per cent in the UK this year.
Persons: Andrea Woroch, PIRG, Etsy, Adam Davis, Davis, Lauren Beitelspacher, Lululemon, Woroch, Leon Neal Organizations: Bloomberg, Getty, National, Wells, Wells Fargo Retail Finance, Finance, Babson College, Nike, Day, Labor, Oxford Circus Locations: New York, R.J, Wells Fargo, Oxford
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Meanwhile, HSBC downgraded Morgan Stanley stock to a hold from buy Monday evening. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Donald Trump's, Jim, Stanley Black, Decker, Wells, Charlie Scharf's, Wells Fargo, Morgan Stanley, Jim Cramer's Organizations: CNBC, Nasdaq, Dow Jones, Trump, Wells, Reuters, Federal Reserve, HSBC, Morgan Locations: Canada, Mexico, China, U.S, Wells Fargo
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStrategist: Take the laddered approach to slowly build duration in U.S. treasury holdingsPaul Christopher of Wells Fargo Investment Institute expects only 2 Fed rate cuts between now and the end of 2025. He says most inflation risks from Trump's policies will come at the end of 2025.
Persons: Paul Christopher Organizations: Fargo Investment Institute Locations: Fargo
You may not know it by looking at sticker prices in grocery aisles, but Thanksgiving dinner is more affordable than it has been in years. “If your dollar had the same overall purchasing power as a consumer in 1984 … this would be the least expensive Thanksgiving meal in the 39-year history of the AFBF Thanksgiving survey, other than the outlier of 2020,” the authors wrote. Target is offering a $20 Thanksgiving meal for four, including a small turkey, canned vegetables and stovetop stuffing mix. Walmart is promoting an “inflation-free Thanksgiving” meal of 29 items that can serve eight people for $56. “Don’t be afraid to check out multiple retailers.”Some Thanksgiving meal packages offer more ingredients, but that could mean preparing more dishes from scratch.
Persons: TJ Maxx, , Robin Wenzel, “ Don’t, ” Wenzel Organizations: American Farm Bureau Federation, , Walmart, TJ, Target, Aldi, Food Institute, Wells Fargo’s, Consumer Locations: U.S, ” Turkey, Wells, West
Doug Burgum, Trump's nominee for Secretary of the Interior and "energy czar," won praise from pro-housing advocates from both parties earlier this year when he made the case for denser, more walkable, mixed-use communities. Advertisement"He's been a champion of zoning reform and parking reform and transportation reform," Chuck Marohn, the founder of the urbanism nonprofit Strong Towns, told Business Insider. Doug Burgum — President-elect Donald Trump's pick to lead the US Department of Interior — reflects the growing bipartisanship around deregulating housing. At the same time, the housing shortage has begun to impact communities across the country rather than just large coastal metros. While Republicans use language about private property rights, free markets, and deregulation to make a case for YIMBY policies, Democrats talk about racial equity and environmental sustainability, Nolan Gray, research director for California YIMBY said.
Persons: Doug Burgum, Donald Trump's, Burgum, Chuck Marohn, it's, Doug Burgum —, US Department of Interior —, Scott Olson, Marohn, millennials, It's, Bryan Caplan, Nolan Gray, California YIMBY, Gray, Emily Hamilton Organizations: North Dakota Gov, homebuilding, US Department of Interior, George Mason University, Democrats, Republican Locations: Fargo, Bismarck, Strong, California
5 ways to make Thanksgiving more affordable
  + stars: | 2024-11-24 | by ( John Towfighi | ) edition.cnn.com   time to read: +8 min
CNN —Thanksgiving means football, food and, for some, crazy family reunions. Almost half of people hosting Thanksgiving dinner are concerned about cost, according to a survey by Deloitte published on November 19. Here are five ways to make Thanksgiving dinner more affordable. People shop for frozen turkeys for Thanksgiving dinner in Mount Prospect, Illinois, on November 17, 2021. Consider a bundle dealRetailers across the country are offering deals for Thanksgiving dinner, competing to be a part of your holiday meal.
Persons: CNN Max, Billy Roberts, ” CoBank’s Roberts, Nam, they’ll, Josh Koebert, ” Koebert, Koebert, CoBank’s Roberts, Wells, Robin Wenzel, Wenzel, ” Wenzel, , William Masters, , ” Masters Organizations: CNN, America ’, American Farm Bureau Federation, Deloitte, CoBank, Food Institute, Walmart, Wells Fargo’s, Bureau of Labor Statistics, Friedman, of Nutrition Science, Tufts University, Shoppers Locations: New York, Chicago, Houston, America, Turkey, Mount Prospect , Illinois, Wells, Wells Fargo, Midwest
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrump's tariffs would pose modest stagflationary shock to economy, says Wells Fargo's Jay BrysonJay Bryson, Wells Fargo chief economist, joins CNBC's 'The Exchange' to discuss macro outlooks, expectations for how tariffs could impact the economy, and more.
Persons: Wells Fargo's Jay Bryson Jay Bryson, Wells Locations: Wells Fargo
After hitting two-decade highs nearing 8% late last year, mortgage rates have fallen, dipping nearly as low as 6% in September. Mortgage rates are expected to stay stuck above 6% for at least the next two years, according to economists and recent forecasts. Home sales are on track for their worst year since 1995 due to home-price growth and elevated mortgage rates. Mortgage rates are closely tied to the 10-year US Treasury yield. Billionaire investor Paul Tudor Jones last month said a swelling national debt under Trump would be frowned upon by the bond market.
Persons: Freddie Mac, ” Lawrence Yun, , Wells, Fannie Mae, Donald Trump’s, Trump, ” Bernard Baumohl, Paul Tudor Jones, “ We’re, , Nick Dus, “ They’ve, Dus, NAR’s Yun, Yun, ” Yun, Samantha Delouya Organizations: Washington CNN, National Association of Realtors, Federal, Treasury, Economic Outlook, Billionaire, Trump, CNBC, CNN, Fed Locations: Wells Fargo, Evansville , Indiana
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Jim Cramer pointed out that the speculative trade is on — as investors pile into riskier bets. To be sure, JPMorgan does see Trump tariff risk for Best Buy since lots of electronics are made in China. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .
Persons: Jim Cramer, Jim, CrowdStrike, Wells, Stocks, Jim Cramer's Organizations: CNBC, Nvidia, JPMorgan, Club, Palo Alto Networks, Ross, PepsiCo Locations: China, Abbvie
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