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☆ US women’s gymnastics team’s history-making members inspiring gymnasts at home
▼ + stars: | 2024-07-28 | by ( Rikki Klaus | ) edition.cnn.com time to read: +6 min

CNN —The most diverse US women’s gymnastics team in history will begin competing this weekend at the Olympic Games, inspiring younger gymnasts in the process. But far from Paris, at James Jones Gymnastics Academy (JJGA) in Jonesboro, Georgia, everyone — from the eponymous Jones himself to his gymnasts – are Black. The gym owner and coach said seeing this year’s diverse Olympic team competing at the highest level in a sport where their race has been underrepresented is inspiring. “It makes me feel wonderful,” Jones told CNN. Jones said he had also seen the effect this Olympic team was having on his young gymnasts.

Persons: —, Jones, –, ” Jones, Simone Biles, Suni Lee, Jade Carey, Jordan Chiles, Hezly Rivera, ”, Zuri Norwood, Danielle Saxon, ” Zuri, Phoenix, Rogers, White, ” Phoenix, she’s, Onnie Rogers, “, there’s, ” Rogers, ‘, Betty Okino, didn’t, that’s, Brown, ” Corrinne Tarver, we’ve, ’ ”, Tarver, “ We’re, ” Tarver, ” Zuri’s, Cruz Norwood Organizations: CNN, Olympic Games, USA, James Jones Gymnastics Academy, Olympic, Tokyo Games, Team USA’s, Norwood, Phoenix Rogers, NCAA, UCLA, of Comparative, University of Chicago, Fisk University Locations: Paris, Jonesboro , Georgia, Chicago, Georgia

☆ 16 cities with hot job markets where homes cost $150,000 less than the national average
▼ + stars: | 2024-07-27 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

Read previewAffordable homes are already rare in this cutthroat housing market, so finding a fairly priced property in a city with promising job prospects may seem like an impossible task. While property prices are no longer surging, they're still elevated, as are mortgage rates. "In-demand, affordable markets, such as those on the Wall Street Journal/Realtor.com Housing Market Ranking list, have seen prices climb, especially high relative to pre-pandemic prices." Homes in those standout cities also cost 6% more than last year, while the rest of the US had flat home prices. Within that group, there were 16 real-estate markets where homes were at least $150,000 less than the national average that also had an unemployment rate at or below 4%.

Persons: —, Realtor.com, Hannah Jones, Danielle Hale, Jones, Hale Organizations: Service, Business, Street Journal, National Association of Realtors, Wall Street Locations: Realtor.com

☆ Most people don't really care about COVID anymore. That's good — and bad.
▼ + stars: | 2024-07-27 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +9 min

Healthcare professionals told BI that the public's more relaxed attitude toward COVID is ultimately a good thing. AdvertisementThe long COVID scareRelaxed attitudes are not necessarily a bad thing, according to doctors. On the one hand, people are generally not getting as sick as they once did when ill with COVID, medical professionals told BI. AdvertisementMedical professionals are doing their best to understand long COVID, but admit that there's still much to learn. "When I treat people with long COVID, they are always masked," Chopra said.

Persons: —, Joe Biden, Anita Chopra, Eric Chow, Edward Jones, Lopez, Chow, we've, Jessica Bender, Bender, Chopra, Long, ROBYN BECK Organizations: Service, Business, University of Washington, Public Health Seattle, Yahoo, Keck Medicine, University of Southern, Centers for Disease Control, UW, Getty, National Library of Medicine Locations: King County, University of Southern California, Seattle

☆ Why do women’s haircuts cost more than men’s?
▼ + stars: | 2024-07-27 | by ( Anna Cooban | ) edition.cnn.com time to read: +7 min

Last year, the average cost for a standard women’s haircut was $51.71 compared with $34.56 for a men’s haircut across the United States, according to transaction data provided exclusively to CNN by Square, a payment systems provider. A man gets his hair cut in a barber shop in Colchester, United Kingdom. That report found the average cost of a women’s haircut ranging between $45 and $75 across the country, while men’s toggled between $25 and $50, though it did not specify whether the typical women’s haircut included extra services such as a blow dry. “When you go to cosmetology school to become a hair stylist, you learn to how to cut hair,” they told CNN. Goldie x Bob is one such hair salon that, five years ago, threw out its gender-based price list.

Persons: London CNN —, YouGov, ” Matthew Smith, Carl Court, Fred Jones, I’m, ”, Jones, “, Tara Farmer, ” Farmer, Raychel Brightman, Newsday, Caroline Larissey, ” Larissey, ‘, Kristin Rankin, Rankin, ” Rankin, Goldie, Bob, Liz Burns, Ashlie, Burns Organizations: London CNN, CNN, Square, Professional Beauty Federation of California, Getty, & Beauty Federation, “ Locations: United States, South Dakota, Colchester, United Kingdom, West Babylon , New York, New York City, Denver, Ashlie Heath

☆ The Olympics Have Arrived
▼ + stars: | 2024-07-27 | by ( Melissa Kirsch | ) www.nytimes.com time to read: +2 min

It has been only three years since the last summer Olympics: the 2020 Tokyo Games, you’ll recall, were held in the summer of 2021. Now the Olympics return with untold opportunities to geek out on sports you haven’t thought about for several years, or ever. Broadcast coverage of the Olympics makes this transformation easy. I’m a total sucker for a hyperemotional documentary featurette on that gymnast whose family sacrificed everything for her Olympic dreams. “One of the strangest things I’ve ever seen an animal do,” Alex had told me, and I concurred.

Persons: Bruce Springsteen …, I’ve, Katie Ledecky’s, she’s, Alex Marshall, Jagerbomb, ” Alex, Tom Jones, Alex wasn’t Organizations: YouTube Locations: Tokyo, Paris

☆ Trump will no longer send out his statements of worth
▼ + stars: | 2024-07-27 | by ( Laura Italiano | ) www.businessinsider.com time to read: +7 min

"Based on discussions with the Trump Organization, my understanding is that the Trump Organization does not intend to develop any estimations of value for any entity, the Trump Organization as a whole, or the guarantors' collateral," Jones wrote. Donald Trump no longer intends to calculate his own net worth for financial statements, this excerpt from a new report reveals. He has issued these net-worth statements — 20- to 30-page balance sheets formally called Statements of Financial Condition — since at least 2004. The firm declared the whole previous decade's worth of net-worth statements unreliable in 2022, saying it would stop preparing them. New York attorney general's officeThroughout the decade's worth of net-worth statements, Trump ignored generally accepted accounting principles, the AG and judge found.

Persons: —, Letitia James, Donald Trump, Trump, Barbara Jones, Jones, Arthur Engoron, James, Donald Trump's, Forbes, it's, Engoron, James ' Organizations: Service, New York, Business, Trump Organization, Trump, Forbes, Buffalo Bills, Deutsche Bank, Mazars, Post Locations: Washington ,, Mazars USA, Miami, Chicago, Manhattan, . New York, New York

☆ Food delivery fees are rising, and everyone's feeling the pinch
▼ + stars: | 2024-07-27 | by ( Justine Fisher | ) www.cnbc.com time to read: +11 min

Third-party food delivery is becoming the norm for American consumers, as delivery apps like Grubhub, DoorDash and Uber Eats take hold in day-to-day dining. It's also presenting customers and restaurants with an increasingly complicated equation of service fees, delivery costs and worker tips. San Francisco resident Zainab Batool, who said she orders delivery from either Uber Eats or DoorDash weekly, called the added fees "insane." The share of consumers choosing third-party delivery services over direct restaurant delivery is rising, up from 15% in 2020 to 21% in 2024, according to Technomic's 2024 Delivery & Takeout Consumer Trend Report. But using their delivery services instead of paying for in-house delivery is worth it for a business on the smaller side, he said.

Persons: Luiz C, Ribeiro, Uber, It's, Zainab Batool, Batool, Gordon Haskett, Grubhub, it's, DoorDash, Covid, Spencer Platt, they've, Shelle Santana, Lindsey Nicholson, Tony Scardino, Pizza, He's, Scardino, Meredith Sandland, Ann, Phillis Engelbert, Engelbert, Gabby Jones Organizations: Ribeiro | New York Daily News, Tribune, Service, Getty, Gordon Haskett Research Advisors, Companies, U.S . Mobility, Uber, Bentley University, Grubhub Marketplace, UCG, Amazon, Bloomberg Locations: Manhattan, Ribeiro |, Francisco, Amsterdam, California, New York City, U.S, Canada, Illinois, Chicago, Ann Arbor , Michigan, Detroit

☆ Asia-Pacific markets mixed after sell-off as investors assess Tokyo CPI, await U.S. inflation data
▼ + stars: | 2024-07-26 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets were mixed on Friday after Thursday's sell-off saw some indexes in the region hit their lowest level in months. "There's a changing of the guard happening on Wall Street. In Asia, traders assessed July inflation data out of Japan's capital city of Tokyo, which is widely considered a leading indicator of nationwide trends. Tokyo's headline inflation slowed slightly to 2.2% in July from 2.3% in May, while its core inflation rate — which strips out prices of fresh food — remained unchanged at 2.2%, in line with expectations. The so called "core-core" inflation rate, which strips out prices of fresh food and energy and is watched by the Bank of Japan, fell to 1.5% from 1.8%.

Persons: Thursday's, Adam Sarhan Organizations: Nasdaq, Dow Jones, Investments, Bank of Japan, greenback Locations: Asia, Pacific, Tokyo

☆ WNBA hopes to cash in on rising popularity with media rights reevaluation after 2028 season
▼ + stars: | 2024-07-26 | by ( Alex Sherman | ) www.cnbc.com time to read: +3 min

The WNBA's new media rights deal includes a price reevaluation after the 2028 season to account for the league's rising popularity, according to people familiar with the agreement. The WNBA deal has been negotiated within a broader $77 billion NBA agreement with media partners announced earlier this week. Instead, the NBA worked with Endeavor Group's media consulting team, led by Karen Brodkin and Hillary Mandel, to assess the value of WNBA rights, said the people. The media partners aren't forced to pay more based on the conclusion of the reevaluation, but they will be incentivized to do so, the people said. A little more than halfway through its current season, the WNBA has already had 16 nationally televised games break the 1 million viewership mark — a league record.

Persons: Brionna Jones, Los Angeles, Cameron Brink, —, Karen Brodkin, Hillary Mandel, Caitlin Clark, Angel Reese, aren't, Cathy Engelbert, Ion, — CNBC's Lillian Rizzo, Jess Golden Organizations: Connecticut Sun, Los, Los Angeles Sparks, Sparks, Sun, Mohegan Sun Arena, WNBA, — Disney, NBA, Endeavor, Amazon, Scripps, CNBC Locations: Connecticut, Uncasville , CT

☆ K Street Pivots for a Possible Harris Administration
▼ + stars: | 2024-07-26 | by ( Kenneth P. Vogel | ) www.nytimes.com time to read: +1 min

Vice President Kamala Harris has forsworn direct donations from lobbyists, but they are welcoming her candidacy and finding other ways to support it. In the days since President Biden dropped his re-election campaign and Ms. Harris moved swiftly to lock up the Democratic Party’s nomination, Washington’s influence industry has quietly jockeyed to position itself with her team. They have briefed clients about her policy positions, the composition of her inner circle and the pool of possible running mates. Some lobbying firms have highlighted their connections to Ms. Harris, drawing the ire of allies seeking to avoid the perception that she is beholden to special interests. “Human nature is such that anybody that ever walked past somebody on the street would try to capitalize,” said former Senator Doug Jones, an Alabama Democrat who is close to Ms. Harris.

Persons: Kamala Harris, Biden, Harris, ”, Doug Jones, “ Organizations: Democratic, Alabama Democrat Locations: Alabama

☆ 2-year Treasury yield dips as investors look to key inflation data
▼ + stars: | 2024-07-26 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was up by less than one basis point at 4.2563%. The 2-year Treasury yield was last at 4.4307% after falling by over one basis point. U.S. Treasury yields were little changed on Friday as investors awaited the release of key inflation data ahead of the Federal Reserve's upcoming monetary policy meeting next week. Those are some of the last key economic data releases before the Fed meets next week to discuss monetary policy. The inflation figures come after economic data throughout the week have given mixed signals about the state of the economy.

Persons: Dow Jones Organizations: Treasury, Federal, PCE, Fed, U.S, PMI

☆ An ugly earnings report from a competitor is good news for Abbott Labs
▼ + stars: | 2024-07-26 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. In the wreckage of Dexcom 's second-quarter earnings report, there's good news for Club holding Abbott Laboratories . 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, Stocks, Stanley Black, Decker, Abbott, Dexcom, salesforce, Jim Cramer's, ABT, DOV, Jim Organizations: CNBC, Dow Jones, Nasdaq, Federal, U.S, Club, Abbott Laboratories, Dover, Mizuho Securities Locations: Dover

☆ Fed’s key inflation gauge rose 2.5% in June from a year ago, in line with expectations
▼ + stars: | 2024-07-26 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Fed officials use the PCE measure as their main baseline to gauge inflation, which continues to run above the central bank's 2% long-range target. An important gauge for the Federal Reserve showed inflation eased slightly from a year ago in June, helping to open the way for a widely anticipated September interest rate cut. Core inflation, which excludes food and energy, showed a monthly increase of 0.2% and 2.6% on the year, both also in line with expectations. Goods prices fell 0.2% on the month, while services increased 0.2%. The report also indicated that personal income rose just 0.2%, below the 0.4% estimate.

Persons: Dow Jones Organizations: Commerce Department, Federal Reserve, Fed

Here's what fans need to know about how to buy 2024 Outside Lands tickets, from original tickets to verified retailers, including StubHub and VividSeats. Outside Lands Music Festival 2024 scheduleOutside Lands is a three-day event in Golden Gate Park, San Francisco. How to buy tickets for Outside Lands 2024Festival goers can visit Outside Lands with either a single-day ticket or a three-day pass. How much are Outside Lands Music Festival tickets? Who is performing at the Outside Lands Music Festival?

Persons: Sabrina Carpenter, Sturgill Simpson, Post Malone, Grace Jones, Chappell Roan, Idris Elba, Victoria Monét, Dolores, Daniel Caesar, Reneé Rapp, Knock2, Kevin, Shiba, Freyr, Joe Kay, Jared Jackson, Darius, Shaboozey, Rocco, Kasablanca, Marsh, Billy Woods, Rochelle Jordan, Odie Leigh, Yulia Niko, Miles, Valencia Grace, Jackie Hollander, Chris Lake, Schoolboy Q, Fletcher, Charley Crockett, Madonna, Romy, STRFKR, Allen Stone, Tsha, Ryan Beatty, Sofia Kourtesis, Mimi Webb, Kaleena, Anish Kumar, Lady Wray, Chuck Gunn, Kaytranada, Teddy, Victoria Monét, Slowdive, Mike, Ben Howard, Paul Cauthen, Seth Troxler, Uncle Waffles, Corinne Bailey Rae, Elyanna, Chance Peña, Jaden Thompson, Katie Pruitt, OGI, Dan SPencer, Lael Neale Organizations: Business, Planet Entertainment, Postal Service, Party, Gate, Golden, Purchasing, Shiba San, CID, The Postal Service, Channel Tres, Amyl, AG Club, TV Locations: Francisco, San Francisco ., Tyla, Slowdive, San Francisco, Real, K.Flay, Roosevelt, CMAT

☆ European stocks head for mixed open as selloff eases; U.S. inflation data due
▼ + stars: | 2024-07-26 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Traders work on the floor of the New York Stock Exchange as a picture of Vice President Kamala Harris is displayed on a television screen, on July 22, 2024. Overall, Stoxx losses have eased from last week, when the regional index recorded its worst performance since October. LONDON — European markets are heading for a mixed open Friday, as a global stock selloff eases and investors await U.S. inflation. The biggest item on the data front Friday is the U.S. personal consumption expenditures price index, due at 8:30 a.m. Asia-Pacific markets largely rebounded Friday, as Tokyo's headline inflation slowed slightly to 2.2% in July from 2.3% in May.

Persons: Kamala Harris, Wall, Dow Jones, Mercedes, Stellantis Organizations: New York Stock Exchange, LONDON, Mercedes Benz Locations: U.S, Asia, Pacific, .

☆ Apple and Microsoft are among the 'Magnificent Seven' stocks set to report next week. Here's what that means
▼ + stars: | 2024-07-26 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

On Friday, the tech-heavy S & P 500 and Nasdaq Composite ended the week with losses, down 0.8% and 2.1%, respectively. However, the bulk of Magnificent Seven results is set for release in the week ahead. As it is, all seven of the Magnificent Seven companies closed out the week with losses. FOMC meeting, July jobs report Elsewhere, investors will also be reviewing the latest Federal Reserve interest rate decision set for release on Wednesday. Traders will also get insight into the labor market next week, with the release of the July jobs report on Friday.

Persons: Russell, Ryan Grabinski, John Belton, Tesla, Belton, FactSet, Stanley Black, Decker, Lam, Kraft Heinz, Ingersoll Rand Organizations: Nasdaq, Dow Jones Industrial, Microsoft, Facebook, Apple, Nvidia, 2H, 3Q, Gabelli, Traders, Dallas Fed, Semiconductor, Nation Entertainment, Electronic Arts, Starbucks, Match Group, Caesars Entertainment, Corning, Howmet Aerospace, Procter, Gamble, Pfizer, Merck, Co, PayPal, ADP, Civilian Workers, Chicago PMI, MGM Resorts International, Allstate, Lam Research, eBay, Qualcomm, Western, Cruise Line Holdings, Hess, Boeing, Mobile, Marriott International, GE Healthcare Technologies, Generac Holdings, Mastercard, Labor, PMI, Manufacturing, Intel, Holdings, Motorola Solutions, Technology, Air Products, Chemicals, Jobs, Exxon Mobil, Chevron Locations: Chicago, Albemarle, Kellanova, Hershey, Moderna

☆ OpenAI's new SearchGPT prototype is a declaration of war against Google
▼ + stars: | 2024-07-25 | by ( Jyoti Mann | Ana Altchek | ) www.businessinsider.com time to read: +5 min

The AI company announced "SearchGPT" on Thursday, an early version of a search product that shows the company is one step closer to launching its own search engine. In a blog post, OpenAI said it's "testing SearchGPT, a temporary prototype of new AI search features that give you fast and timely answers with clear and relevant sources." A screenshot of search results from OpenAI's new SearchGPT prototype, which is in the testing phase. OpenAIOpenAI has Google in its crosshairsWith SearchGPT, OpenAI is clearly positioning itself against Google's Search Generative Experience (SGE) and AI startup Perplexity's search feature. AdvertisementOpenAI's announcement comes after The Information in February that the company had been quietly developing its own web search product.

Persons: —, OpenAI, Sam Altman, OpenAI OpenAI, Google's SGE, Microsoft's Bing, Bing, Satya Nadella, OpenAI didn't Organizations: Service, Business, Google, Microsoft, Department of Justice, DOJ Locations: boone north carolina, SearchGPT

☆ Get a first look at Goldman Sachs' logo and website revamp that's been years in the making and is estimated to have cost millions
▼ + stars: | 2024-07-25 | by ( Emmalyse Brownstein | Reed Alexander | ) www.businessinsider.com time to read: +9 min

Two of these people said the aim of the years-long redesign — which also includes a fresh look for the Goldman website — was to give the firm's marketing materials a more "premium" feel. The photo was recently posted on Goldman's LinkedIn page Screenshot from Goldman Sachs' LinkedIn page"The Goldman Sachs wordmark is a piece of custom typography inspired by our heritage," the brand guidelines obtained by BI say. These people say they understand the changes cost Goldman Sachs millions of dollars. A screenshot of Goldman's website redesign plan with the G and the S joined on the right. Now fresher, brighter, and optimized for digital, the new Goldman Sachs blue is the only Goldman Sachs blue."

Persons: —, Goldman Sachs, Sachs, Emmalyse, David Solomon, Goldman Sachs wordmark, Goldman, Fiona Carter, Jones Knowles Ritchie —, Burger, Marcus, Reed Alexander Organizations: Service, Business, Goldman, BI, Goldman's, GS, Apple Locations: Goldman, Sachs, British

☆ Opinion: I’m a former Olympic swimmer who almost drowned as a child. It’s a preventable danger
▼ + stars: | 2024-07-25 | by ( Opinion Cullen Jones | ) edition.cnn.com time to read: +6 min

In the 1960s, many public pools were filled with concrete or destroyed to avoid allowing Black Americans to swim in them. In fact, park managers opted to shut down the Historic Audubon Park Natatorium in New Orleans, the largest public pool in the South, rather than see it integrated. Black children ages 10-14 years drown in swimming pools at a rate that is almost 8 times higher than White children. Third places are incredibly important for public health and wellbeing however because they give people a place to socialize and build community. We also need better national data about our public pool system that goes beyond project- or funding-specific tracking.

Persons: Cullen Jones, Cullen Jones Maddie Meyer, Paris —, Heather McGhee, Prosper Organizations: USA, Foundation, CNN, Olympics, Rutgers Aquatic Center, ”, White Americans, Black, Historic Audubon, Disease Control, Prevention, Trust, Community Locations: @CullenJones, Philadelphia, Paris, Newark , New Jersey, ”, United States, New Orleans, White

☆ Stock futures rise slightly as investors prepare for Fed’s preferred inflation gauge: Live updates
▼ + stars: | 2024-07-25 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Stock futures rose modestly on Thursday evening as the major averages head for weekly losses and investors anticipated a reading of the Federal Reserve's preferred inflation gauge. Futures tied to the Dow Jones Industrial Average advanced 42 points, or just over 0.1%. S&P 500 futures and Nasdaq 100 futures climbed about 0.1% each. The activity seemed to be part of a broader rotation into small caps and more cyclical areas of the market. ET, traders will watch for the June reading of the personal consumption expenditures report, an inflation reading that's preferred by central bank policymakers.

Persons: Kamala Harris, Dexcom, Adam Turnquist, Dow, Dow Jones Organizations: New York Stock Exchange, Federal, Dow Jones Industrial, Nasdaq, Dow, Bristol Myers Squibb, Colgate, Palmolive, 3M Locations: New York City, Stock, Michigan

He told CNN he wasn’t notified of the minors program embargo. The couple flew to Atlanta, Georgia, from Spokane, Washington, on a Delta flight and encountered no issues, they told CNN. Travelers wait for their luggage at the Delta baggage claim at Hartsfield-Jackson Atlanta International Airport (ATL) in Atlanta, Georgia, US, on Tuesday, July 23, 2024. “There should be some kind of compensation for this.”He told CNN the issues have cost him a significant amount of money. Bastian also told Delta passengers in a note on Sunday that the airline would “continue to offer meal vouchers, hotel accommodations and transportation where available.

Persons: CNN —, “ Delta, ”, Reed, wasn’t, Delta, He’s, Pete Buttigieg, Jeremy, Kaylee Jones, Lucia, ” Jones, Ed Bastian, Christian Monterrosa, Dylan Steele, Steele, “, Arthur Ginolfi, I’ve, Ginolfi, Bastian, we’re Organizations: CNN, Delta, “, LaGuardia, Delta Air Lines, Atlanta’s Hartsfield, Jackson International Airport, Hartsfield, Jackson Atlanta International, Bloomberg, Getty, Jackson Airport, Delta Airlines Locations: Delta, Atlanta, Charlotte, New, Orlando, New York, Florida, St, Atlanta , Georgia, Spokane , Washington, Delta’s, South Georgia, Washington, Jackson, Philadelphia, New Jersey

☆ Stock market today: US stocks trade mixed as tech losses deepen and investors await PCE
▼ + stars: | 2024-07-25 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

US stocks gave back gains to trade mixed on Thursday amid more tech weakness. GDP grew 2.8% in the second quarter, according to advanced estimates from the Commerce Department, well-above the 2.1% growth economists had expected. PCE inflation rose 2.6%, down from the prior reading of 3.7%. Mega-cap tech stocks continued to slide after Tesla and Alphabet delivered disappointing results for the second quarter. Alphabet was down for a second day, dropping another 3% on Thursday.

Persons: —, Neil Dutta Organizations: PCE, Service, Dow Jones, Treasury, Commerce Department, Fed, Macro, Meta, Microsoft, Here's

☆ U.S. economy grew at a 2.8% pace in the second quarter, much more than expected
▼ + stars: | 2024-07-25 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Real gross domestic product , a measure of all the goods and services produced during the April-through-June period, increased at a 2.8% annualized pace adjusted for seasonality and inflation. Economists surveyed by Dow Jones had been looking for growth of 2.1% following a 1.4% increase in the first quarter. Economic activity in the U.S. was considerably stronger than expected during the second quarter, according to an initial estimate Thursday from the Commerce Department. The so-called chain-weighted price index, which takes into account changes in consumer behavior, increased 2.3% for the quarter, below the 2.6% estimate. There also is pressure in the housing market: Sales are declining while home prices continue to climb, putting pressure on first-time homebuyers.

Persons: Dow Jones Organizations: Commerce Department, Stock, Federal Reserve, Fed, Philadelphia Federal Locations: U.S

☆ Tom Aspinall: From ‘one of the lowest points’ of his life to interim UFC heavyweight champion, the rise of British fighter
▼ + stars: | 2024-07-25 | by ( Ben Morse | ) edition.cnn.com time to read: +8 min

CNN —Five wins to open his UFC career had Tom Aspinall on course for a title shot. A kick from Aspinall connected with Blaydes’ leg and the British fighter dropped to the canvas, clutching his knee in pain, with the fight ending prematurely. The UFC is seen as the pinnacle of MMA and therefore comes with increased attention, but Aspinall was unfazed. Aspinall says it will be "great" co-headlining UFC 304, an event featuring British fighters competing in each bout. Aspinall says that he feels like "the best in the world" despite holding the interim heavyweight title.

Persons: Tom Aspinall, Curtis Blaydes, Aspinall, Blaydes, ”, ” Aspinall, Julian Finney, I’ve, I’m, Curtis, Tom, Chris Unger, it’s, ” ’, “, …, you’ll, he’s, ’, ’ ” Aspinall, Marcin Tybura, Jon Jones, Stipe Miocic, Jones, Sergei Pavlovich, Pavlovich, Henry Cejudo, Georges, Pierre, ” Cejudo, “ What’s, doesn’t, Cooper Neill, Aspinall’s, Leon Edward’s, Belal Muhammad, It’s, You’re Organizations: CNN —, UFC, O2, CNN Sport, “, Manchester, British, YouTube, ” CNN Locations: London, British, New York’s, Manchester

☆ Japan's Nikkei tumbles more than 2% as Asia-Pacific markets fall, tracking Wall Street sell-off
▼ + stars: | 2024-07-25 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets saw a sell off on Thursday, tracking losses on Wall Street as the S&P 500 and Nasdaq Composite saw their worst days since 2022. The broad market index lost 2.31%, closing at 5,427.13, while the tech-heavy Nasdaq slid 3.64% to end at 17,342.41. Meanwhile, Tesla shares declined 12.3% — their worst day since 2020 — on weaker-than-expected results and a 7% year-over-year drop in auto revenue. Over in Asia, investors will assess South Korea's advance second-quarter GDP numbers, which came in slightly below expectations. South Korea's GDP grew 2.3% year on year, lower than the 2.5% expected by economists polled by Reuters.

Persons: — Organizations: Nasdaq, Dow Jones, Tech, Nvidia, Meta, Reuters Locations: Seoul . Asia, Pacific, Asia

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