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Why the stock market is going berserk today
  + stars: | 2024-08-02 | by ( Jennifer Sor | ) www.businessinsider.com   time to read: +4 min
The stock market is in shambles on Friday, with all three major indexes falling more than 2%. AdvertisementThe US stock market has plunged into chaos as investors digest a streak of negative economic data and disappointing mega-cap-tech earnings. Months ago, signs of a slowing economy would bolster expectations for Fed rate cuts, which are seen as rocket fuel for stocks. "Pressure will escalate on the Federal Reserve as market interest rates will continue the attempt to force their hand." She added: "A September rate cut is in the bag and the Fed will be hoping they haven't, once again, been too slow to act."
Persons: They're, , John Lynch, Seema Shah, Ryan Detrick, Carson Organizations: Amazon, Service, Investors, Intel, Comerica Wealth Management, Federal Reserve, Asset Management, York Fed Locations: New York
But Republican voters slammed Mr. Richer when he said, correctly, that the election had not been stolen from former President Donald J. Trump. Mr. Heap galvanized that anger and mistrust while not actually declaring whether he believed the 2020 election had been stolen. He said he would restore Republican voters’ confidence in the system. Another conservative Republican challenger, Don Hiatt, had flatly declared that the past two elections in Arizona were stolen. Mr. Heap is now expected to face Timothy Stringham, a Democrat and military veteran, in the general election in November.
Persons: Richer, Jan Brewer, Doug Ducey, Donald J, Trump, Shelby Busch, Mr, Heap, Don Hiatt, ” Mr, Timothy Stringham Organizations: Republican, Maricopa County Republican Locations: Maricopa County, Arizona
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChip investors are looking for cheaper alternatives to Nvidia, investment firm saysEric Lynch, managing director at Scharf Investments, explains why Samsung's stock might be attractive.
Persons: Eric Lynch, Scharf Organizations: Nvidia, Scharf Investments
Laura Dern dropped out of UCLA to film "Blue Velvet," her breakout role. Dern said the former head of UCLA's film department said it was "insane" to drop out for the film. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementLaura Dern said a former head of her college film department once called her plan to leave college to film "Blue Velvet" "insane." David Lynch's "Blue Velvet" is widely regarded as one of the greatest movies of all time, but when it premiered in 1986, critics disagreed on whether it was good.
Persons: Laura Dern, unsupportive, Dern, , David Lynch's Organizations: Service, Business Locations: UCLA
As for sectors, financials has seen the highest average annual returns in presidential election years at about 11%. Comerica data shows health care gains just under 6% during presidential election years. The sector has also lagged the S & P 500 in two of the last three presidential election years. What's different this time The biggest difference between 2024 and other presidential election years is the S & P 500's massive year-to-date gains. Tech, for example, is up 25% in 2024, outperforming its historical averages for a presidential election year.
Persons: Donald Trump, Joe Biden, Biden, Kamala Harris —, Harris, John Lynch, Quincy Krosby, Consumer Staples, Comerica's Lynch, Lynch, Riley, Art Hogan, Hillary Clinton – Organizations: Democratic, Biden, Trump, CNBC, Comerica Wealth Management, Energy, Comerica, Technology, Tech, Health, Consumer, Riley Wealth Locations: Washington, Strategas
Biscuit Basin – located about 2 miles northwest of the famed Old Faithful geyser in Wyoming – was shuttered for the rest of the summer out of concern for visitor safety, according to park officials. This map shows the major thermal features in Biscuit Basin at Yellowstone National Park. Officials say Grand Loop Road, which surrounds Biscuit Basin and other notable sites in the park, remains open to vehicles. Biscuit Basin and other popular geysers have experienced similar explosions in the past, officials said. Additionally, a small hydrothermal explosion occurred from Wall Pool, in Biscuit Basin, in 2009, according to officials.
Persons: , CNN’s Jamiel Lynch Organizations: CNN, Yellowstone, National Park Service, Geological Survey, Google, Survey, ” Geologists, Porcelain Locations: Wyoming, Sand, Norris, Porcelain Terrace, Wall, Yellowstone
“Hydrothermal explosions are violent and dramatic events resulting in the rapid ejection of boiling water, steam, mud, and rock fragments,” according to the US Geological Survey. “Porkchop Geyser, in Norris Geyser Basin, experienced an explosion in 1989, and a small event in Norris Geyser Basin was recorded by monitoring equipment on April 15, 2024. Hydrothermal explosions like that of today are not a sign of impending volcanic eruptions, and they are not caused by magma rising towards the surface.”Large hydrothermal explosions occur on an average of every 700 years, the USGS says. “Although large hydrothermal explosions are rare events on a human time scale, the potential for additional future events of the sort in Yellowstone National Park is not insignificant. Based on the occurrence of large hydrothermal explosion events over the past 16,000 years, an explosion large enough to create a 100-(meter)- (328-ft-) wide crater might be expected every few hundred years,” it added.
Persons: Organizations: CNN, Geological Survey Locations: Yellowstone, Wyoming, Norris, Norris Geyser
Bank of America strategist says it's time to get bearish
  + stars: | 2024-07-22 | by ( Ganesh Rao | ) www.cnbc.com   time to read: +3 min
As stocks pull back from all-time highs, a top Bank of America strategist warned investors to be cautious, citing a series of economic indicators that have historically signaled the end of a rally. "Historically, whenever the unemployment rate has started to rise, it has never gone down again. The unemployment rate unexpectedly climbed to 4.1% in June , tied for the highest level since October 2021. The strategist added that such conditions typically lead to higher risk premiums and lower asset prices, especially given the current elevated market levels. The Bank of America strategist also expressed concern about consumer confidence, which he described as "collapsing."
Persons: Sebastian Raedler, Raedler, Hani Redha, Redha, Peter Lynch Organizations: Bank of America, . Treasury, University of Michigan, Pine, Investments Locations: U.S
In today's big story, President Joe Biden ended his reelection bid . The president ended his reelection campaign on Sunday, the culmination of mounting pressure from his party after a disastrous debate last month. Meanwhile, former President Donald Trump said in a post on Truth Social that "Crooked Joe Biden was not fit to run for President." Biden's reelection campaign has quickly pivoted to serve Harris, making it an uphill battle for any Democrat looking to challenge her , writes Business Insider's Brent D. Griffiths. Many have made comparisons to the 1968 Democratic convention , which was a contested convention after President Lyndon B. Johnson ended his reelection campaign earlier that year.
Persons: , Joe Biden, Biden, Alyssa Powell, BI Joe Biden, Elon Musk, Reid Hoffman, Donald Trump, Kamala Harris, Harris, Jared Siskin, Biden's, Insider's Brent D, Griffiths, Hillary Clinton, BI's Bryan Metzger, Lyndon B, Johnson, Hubert Humphrey, Humphrey, Richard Nixon, Brent, Here's, Sieg, Merrill Lynch, Abanti Chowdhury, Andy Sieg, Warren Buffett's, Buffett, Paul Chinn, Andrew Caballero Reynolds, Marc Andreessen, he'd, Andreessen, Trump, BI's Adam Rogers, OpenAI, Sam Altman's, slowdowns, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Business, BI, Democratic, Madison, Park Conservancy, Citi Wealth, BI Citi Wealth, Bank of Montreal, Buffett Locations: Park, Plenty, Washington, Chicago, Southern, New York, London
Read previewDavid Duchovny said a director used a megaphone to tell him when to orgasm as he filmed the first sex scene of his career for the 1991 movie, "The Rapture." Duchovny's experience filming his first sex scene for "The Rapture" sheds light on the haphazard way they often filmed. AdvertisementRecalling shooting the scene, Duchovny said in an interview for Business Insider's Role Play series: "Forget about intimacy coordinators. Fine Line FeaturesDuchovny did not clarify whether director Michael Tolkin or another crew member used the megaphone. How's everybody going to be safe?
Persons: , David Duchovny, Sharon, Mimi Rogers, Randy, Duchovny, David Lynch's, Fox Mulder, I'm, Stéphanie, Michael Tolkin, Tolkin, Alicia Rodis, Hank Moody, we're Organizations: Service, Business, HBO Locations: Santa Monica
CNN —An Illinois woman was fatally shot inside her home this month by a sheriff’s deputy who responded to her 911 call, and the deputy is now charged with murder in the case, a prosecutor said this week. Sangamon County sheriff’s Deputy Sean Grayson and another deputy responded to the call around 12:50 a.m., authorities said. The sheriff’s office said the deputies, who were not injured, reported the shooting around 1:20 a.m. Crump’s office has said Massey was unarmed. When the two responding deputies encountered Massey, she “appeared to be calm, perhaps unwell, not aggressive,” the court document said. Sean Grayson has been fired from his job as a Sangamon County sheriff's deputy and faces murder and other charges in Sonya Massey's death, officials said.
Persons: Sonya Massey, Ben Crump, Sean Grayson, Grayson, Massey, … Grayson, John Milhiser, Milhiser, WICS, Crump, Sonya Massey’s, Sonya’s, ” Crump, , Grayson “, ‘ I’m, Sonya Massey's, JB Pritzker, “ Sonya Massey, ” Pritzker, CNN’s Jamiel Lynch Organizations: CNN, Sangamon, An Illinois State Police, WICS, , Massey, Sangamon County sheriff's, Illinois Gov Locations: An Illinois, Springfield, Sangamon County, Massey’s
View at Amazon What we like Check mark icon A check mark. View at Amazon What we like Check mark icon A check mark. View at Amazon What we like Check mark icon A check mark. View at Amazon What we like Check mark icon A check mark. View at Amazon What we like Check mark icon A check mark.
Persons: Reddit, Dyson, We've, It's, we've, Anker, Philips Organizations: Business, Amazon, nutritionists, Apple, Pro, SBC, AAC SBC, Philips
Some of the best iPhone 15 cases and best iPhone 15 screen protectors we've tested are on sale for the lowest prices we've seen, like the OtterBox Defender XT case (47% off) and the Zagg Glass Plus screen protector (37% off). Top 3 iPhone 15 case and screen protector dealsThe best Amazon Prime Day iPhone 15 and iPhone 15 Plus case and screen protector dealsWe're seeing great deals on a range of top iPhone 15 and 15 Plus cases, including 47% off the Otterbox Symmetry case for the iPhone 15. View at AmazonThe best Amazon Prime Day iPhone 15 Pro case and screen protector dealsThere are some superb deals on cases and screen protectors for the iPhone 15 Pro and iPhone 15 Pro Max, like 52% off a stylish Kate Spade case, and 29% off the Zagg Glass Elite Screen Protector. The best iPhone 15 Pro Max cases protect your phone against whatever your lifestyle throws at it. One of our favorites, the OtterBox Symmetry Series for iPhone 15 Pro Max, is almost 50% off this Prime Day.
Persons: we've, you'll, it's, MagSafe, Max, Kate Spade, It's Organizations: Business, OtterBox, Apple, Amazon Prime Locations: OtterBox, PopSockets, kickstand, York
The best Prime Day deals are the ones that let you fill a need in your life while saving a few bucks. Read on for our editor's personal picks from this year's sale, and catch the remaining sales in our main Prime Day deals hub. Amazon Prime Day deals our experts bought themselvesI'm moving from a huge home in Kansas to a tiny apartment in New York City. I used Prime Day as an opportunity to downsize to a smaller model that was recommended by our air fryer expert. Check out our roundup of all of the best Prime Day deals, or browse Amazon's website for more.
Persons: you've, Read, fryer, — Lauren Savoie, I've, It's, Samantha Crozier, Gabrielle Chase, Sam, Sally Kaplan, TCL, Brendan Griffiths, Anker, — James Brains, — Sally Kaplan, Dot, — Christopher Meinck, They're, it's, — Jaclyn Turner, Lauren Savoie, I'm, I'd, — John Lynch, They've, Mandolines, NoCry, Les Shu Organizations: Business, Amazon Prime, Sony, Microsoft, Taco Bell, Lenovo, Echo, Commerce, JW, JW PEI, Love Locations: Kansas, New York City, Taco, Crystal City, Hawaii, Brooklyn, Europe
You can grab some of the best deals of the year on gaming laptops from Alienware, Asus, and MSI. View at AmazonThe best Prime Day Apple MacBook dealsIf you're looking to buy any of Apple's MacBook laptops, now would be the time to do it. Apple's M3 MacBook Air offers the best bang for the buck for most people with fantastic performance and quality. Most people don't need the M3 Pro or M3 Max models, unless you want them for graphically intensive work. For gaming, even though Apple has made great strides in gaming performance, there's realistically only one option — a Windows gaming machine.
Persons: it's, Apple Organizations: Business, Asus, Max, Samsung, HP, Dell, Acer, Google, Amazon, MSI, Apple MacBook, Air, MacBook, Apple, MacBook Air, Intel, AMD, AAA, Amazon Prime
MacBook laptops can enjoy deals here and there throughout the year, but Prime Day offers the best guarantee of a deal if not the best deal. Right now, you can take $200 off the new 13-inch MacBook with the M3 processor or grab the latest M3 Pro 16-inch MacBook Pro model at an all-time low price. M1 users will notice a considerable improvement, and if you're still using an Intel MacBook Pro, this will basically blow your socks off. If you like larger displays without spending MacBook Pro money, there's a 15-inch model of the M3 MacBook Air, too. If you're looking for ultimate value, Apple still sells the M2 MacBook Air, which introduced Apple's long-overdue design refresh to the MacBook Air series.
Persons: it's, there's Organizations: Business, Air, MacBook, Apple, Pro, Max, Amazon Prime
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Persons: we've, OnePlus Organizations: Business, Samsung, Samsung Galaxy, Galaxy, Google, Amazon Samsung, OnePlus, Amazon Prime
On Friday, he went to a shooting range where he was a member, and practiced firing, a law enforcement official told CNN. Yet nearly 48 hours after the shooting, investigators are struck by the lack of leads they’re finding about Crooks’ mindset and possible motives. Investigators parsing through his online search history haven’t found any indication of him researching how to make home-made explosives, law enforcement officials said. While investigators had hoped that breakthough would help them understand what drove him to attempt to assassinate Trump, they’re still struggling to make sense of it, law enforcement officials said. But they didn’t seem to know much about what was going on in his life recently, law enforcement sources said.
Persons: Donald Trump, Thomas Matthew Crooks, Crooks, scrutinizing Crooks, haven’t, Matthew Crooks, Rob Bootay, Trump, ” Bootay, ” Crooks, Bruce Piendl, , Rebecca Droke, they’re, CNN’s Isabelle Chapman, Majlie, Puy Kamp, Curt Devine, Kyung, Jamiel Lynch, Gianluca Mezzofiore, Anna, Maja Rappard Organizations: CNN, Pittsburgh, Hyundai, Trump, Pennsylvania State Police, Clairton, , Allegheny Arms, Gun, Home Depot, Police, FBI, Getty Locations: Butler , Pennsylvania, Crooks, Pittsburgh, Bethel Park, Bethel Park , Pennsylvania, AFP
But don't bet on a soft landing outcome for the US economy as the Fed gets set to cut rates, says famed economist David Rosenberg. AdvertisementRosenberg ResearchRosenberg's downbeat views on the labor market come amid his skepticism about the impressive rallies in major stock-market indexes like the Nasdaq 100 and the S&P 500. Still, as Rosenberg points out, some say the Fed needs to act urgently as the labor market weakens. Waiting too long to lower interest rates to support the economy will only increase the odds of the job market breaking down." Rosenberg has been consistently bearish on the US economy in recent months, while the labor market has continued to prove him wrong.
Persons: , David Rosenberg, Rosenberg, Merrill Lynch's, Eli Lilly, Russell, Neil Dutta, Dutta Organizations: Service, Fed, Rosenberg Research, Business, Bureau of Labor Statistics ', Survey, Nasdaq, Nvidia, Microsoft, Meta, Macro
Monte Kiffin: Longtime NFL and college coach dies at 84
  + stars: | 2024-07-12 | by ( Jacob Lev | ) edition.cnn.com   time to read: +2 min
CNN —Longtime NFL and college coach Monte Kiffin has died at the age of 84, the University of Mississippi announced on Thursday. Kiffin passed away peacefully in Oxford, Mississippi, surrounded by friends and family, the school said. The Buccaneers-owning Glazer family said Monte was a “beloved and iconic member” of the organization. “As a coach, Monte was a true innovator who got the best out of his players and helped create one of the signature defenses of the early 2000s,” the Glazer family said in a statement. Lane has been the head coach of Ole Miss since 2020 where Monte has been an analyst on the staff.
Persons: CNN —, Monte Kiffin, Kiffin, , Knox, ” Kiffin, Glazer, Monte, Hall, Warren Sapp, Derrick Brooks, John Lynch, Ronde Barber, Robin, Lane, Chris, Heidi, Lane’s, Ole Miss, Organizations: CNN, CNN — Longtime NFL, University of Mississippi, NFL, Tampa Bay Buccaneers, Minnesota Vikings, New, New Orleans Saints, Dallas Cowboys, Tampa, Buccaneers, Oakland Raiders, Super Bowl, Hall of Famers, University of Tennessee, University of Southern, Florida Atlantic University Locations: Oxford , Mississippi, New Orleans, University of Southern California
Read previewThe talk show host Ellen DeGeneres has long been considered a beloved celebrity for her friendly and funny public demeanor. "Maybe I'm being naive, but I expected them to welcome me with confetti: Welcome to 'The Ellen DeGeneres Show'!" Next thing we know, we literally hear Steve Jobs pick up and say, 'Hi, Ellen' … Ellen told him the iPhone should have a bigger font," the producer said. I have been getting calls asking me about the Ellen Degeneres Show and I would like to address the time I spent there. AdvertisementPaytas appeared on "The Ellen DeGeneres Show" in 2010 when she was 22 years old to showcase her speed-reading talent during an audience talent segment.
Persons: , Ellen DeGeneres, Nikkie de Jager, DeGeneres, NikkieTutorials, vlogger, de Jager, hadn't, van, Sebastian Williams, van Nieuwkerk, YouTuber, De Jager, Pop Crave, Ellen, Jonas, Kevin T, Porter crowdsourced, you've, Portia de Rossi, wouldn't, didn't, X weren't, I've, Kevin Winter, Stagehands, Jimmy Kimmel, John Oliver, Samantha Bee, Ellen DeGeneres's, Jordan Strauss, Tom Majercak, Majercak, de Rossi, Steve Granitz, Steve Jobs, Jobs, Jane Lynch's, Katy Perry, Chris Pizzello, Ellen Show, Neil Breen, Breen, Richard Wilkins, she'll, Richard, you'll, Neil, She'll, I'd, I'm, Raymond, Brad Garrett, Garrett, Lea Thompson, Scooter Braun, Kevin Mazur, Braun, Justin Bieber, Ariana Grande, Andy Lassner, James Corden, Corden, Hedda Muskat, Joshua Blanchard, Patrick McMullan, Ed Glavin, Mary Connelly, Muskat, Glavin, Ed, Tony Okungbowa, Okungbowa, Ellen Degeneres, Tony okungbowa, Dakota Johnson, Johnson's, Johnson, that's, Craig, Trisha Paytas, Christopher Polk, YouTuber Trisha Paytas, H3H3, Ethan Klein, Paytas, Ashton Kutcher, Kutcher, De Rossi, Ryan Phillippe, haven't, Jim Spellman, WireImage, Thompson, Phillippe, Jennifer Aniston, Billie Eilish, Greyson Chance, Gaga's, Chance, Stone, she'd, Rolling Stone, would've, It's, Tasos Katopodis, SFGate, Libby Torres Organizations: Service, Business, C Magazine, YouTube, Los Angeles Regional Food Bank, Variety, Warner Bros, Television, ABC, Fox News, New York Post, New York, Producers, AP, BuzzFeed, The Hollywood, British, Twitter, Sun, NBC, Getty, CDC, Centers, Disease Control, West Hollywood, Netflix Locations: Dutch, California, Australian, Melbourne, Dakota, West
“We look at this 1-year-old as our miracle baby, (because) he was still alive,” Calcasieu Parish Sheriff Stitch Guillory said this week. Detectives eventually learned the 4-year-old had last been seen on Saturday with his mother, Aaliyah Jack, 25, of Lake Charles, and his 1-year-old brother, the sheriff’s office said. The 1-year-old was found near mile marker 10 – about 9 miles from the rest stop where his brother had been found dead the day before, the sheriff’s office said. He was taken to a hospital and later released to the state Department of Children and Family Services, Calcasieu Parish Sheriff’s Office spokesperson Kayla Vincent told CNN. In this still from a video, truck driver Reginald Walton speaks to CNN affiliate KADN.
Persons: Hurricane, Stitch Guillory, Beryl, Aaliyah Jack, , Reginald Walton, ’ ” Walton, KADN, Walton, ” Walton, Kayla Vincent, Jack –, Guillory, , , , Jack, Aaliyah Jack’s, Conswella Jack, , Conswella, Lake Charles, CNN’s Taylor Ward Organizations: CNN, Police, KADN, Department of Children, Family Services Locations: Louisiana, Mississippi, Gulf Coast, Calcasieu, Louisiana’s Calcasieu Parish, Texas, Lake Charles, Meridian , Mississippi, Calcasieu Parish, Houston, Lake
CNN —A historically hot summer in the United States is on a July killing spree and the toll will only grow with the hottest days yet to come. It’s been the hottest summer on record to date for around 100 US cities from Maine to California. Nine were over the age of 65, the county medical examiner told CNN. At least 10 suspected heat deaths are being reported in Oregon. The region is still typically quite hot in July even without heat reaching record levels daily.
Persons: It’s, Hurricane Beryl, , Nebraska –, Etienne Laurent, ” David S, Jones, ” Jones, Rachel Ramirez, Sara Smart, Jillian Sykes, Sarah Dewberry, Raja Razek, Chris Boyette, Jamiel Lynch, Cheri Mossburg, Amanda Musa Organizations: CNN, Phoenix Police Department, Phoenix, Getty, National Park Service, Harvard University, Center Locations: United States, Maine, California, Santa Clara County , California, Santa Clara, Southeast Texas, Arizona, Georgia, Texas, Nebraska, Phoenix, Maricopa County, Oregon, Portland’s Multnomah County . Portland, Valley, Mesquite, Death, Furnace, Southern California, West
The Galaxy Ring is designed as a discreet health-tracking wearable for your finger, with features powered by Samsung's Galaxy AI, which we detail below. Samsung says the index finger is preferred for the Galaxy Ring, but this show unit could only fit my pinky. The Galaxy Ring's charging dock case can hold 1.5x the charge of the Galaxy Ring itself. AdvertisementAI-backed featuresSamsung's Galaxy AI for its latest wearables, including the Galaxy Ring, the Galaxy Watch 7, and the Galaxy Watch Ultra, focuses on two new features — Energy Score and Wellness Tips. The Galaxy Ring supports Samsung's Galaxy AI for two major features, including Energy Score and Wellness Tips.
Persons: pinky, Antonio Villas, It'll Organizations: Business, Samsung, Samsung's Galaxy, Galaxy, Boas, Galaxy Watch, , Samsung Health, Energy, Galaxy AI
Learn moreSamsung announced its new Galaxy Z Flip 6 and Galaxy Z Fold 6 foldable phones on July 10, which the company claims are the most durable Galaxy Z series devices yet. AdvertisementSamsung Galaxy Z Flip 6: FeaturesThe Galaxy Z Flip 6 has a large cover screen that lets you do more without having to unfold the phone. Antonio Villas-Boas/Business InsiderThe Galaxy Z Flip 6 carries over the larger 3.4-inch cover screen from the previous generation, one of the best upgrades to the Galaxy Z Flip series. AdvertisementSamsung Galaxy Z Fold 6: FeaturesThe Galaxy Z Fold 6 has a 7.6-inch tablet display. AdvertisementSamsung Galaxy Z Flip 6 and Z Fold 6: Specs
Persons: Antonio Villas, you'll Organizations: Business, Samsung, Qualcomm, Galaxy, Boas, Samsung Care, Navy Locations: Amazon, Pink
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