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☆ JPMorgan says the carry trade that pummeled markets is only half done
▼ + stars: | 2024-08-06 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The unwinding of the carry trade that's battered stocks in recent days isn't done, JPMorgan says. It says that trade is probably only half over, as Japan looks poised to continue raising rates. AdvertisementThe "carry trade" unwind that helped spark the bloodbath in US stocks over the past few days likely isn't close to over, a JPMorgan strategist says. Market commentators say that's been partly stoked by a surprise 15-basis-point interest-rate hike in Japan, which triggered some investors to unwind a trade that's become popular in recent years. In this trade, investors borrow cheap yen and deploy the cash into higher-yielding assets elsewhere, like US stocks.

Persons: —, Arindam Sandilya, that's, Sandilya Organizations: JPMorgan, Service, FX, Bloomberg, Bank of Locations: Japan, Bank of Japan

The GOP’s 2024 party platform calls for the repeal of President Joe Biden’s executive order on AI, which Republicans say "hinders AI innovation." Senate Majority Leader Chuck Schumer speaks to NBC News from the balcony of his Capitol office on Thursday, Aug. 1. “We have lots of AI proposals in the defense bill because AI has national security concerns,” Schumer told NBC News. It would require federal agencies to assess the potential risks of using AI before purchasing or deploying AI systems. But it also has real problems,” Schumer said, referring to the Future of AI bill.

Persons: Chuck Schumer, Elon Musk, Donald Trump, Kamala Harris, Schumer, Trump, ” Schumer, ”, “ We’re, “, Joe Biden’s, “ Donald Trump, Frank Thorp V, TikTok, Sen, Mitt Romney, Brian Schatz, chatbot ChapGPT, Schumer —, —, Mark Zuckerberg, Bill Gates, Sundar Pichai, Sam Altman, Jensen Huang, Martin Heinrich, Todd Young, Mike Rounds, Rounds, ” Rounds, Gary Peters, Thom Tillis Organizations: New, New York Democrat, NBC News, Republican, Democratic, Republicans, NBC, Big Tech, National Defense, Senate, 118th, National Institute of Standards, Technology, NIST, Senate Homeland Security, Star Locations: WASHINGTON, Harris, New York, eyeing, Republic, Congress, China, U.S, R, Utah, Hawaii, Sens

☆ Here's what Wells Fargo Investments' Sameer Samana is eyeing these days
▼ + stars: | 2024-08-05 | 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 EmailHere's what Wells Fargo Investments' Sameer Samana is eyeing these daysSameer Samana, Wells Fargo Investment Institute senior global market strategist, joins 'Money Movers' to discuss his thoughts on equity performance today, the sectors Samana would like to add allocation to, and more.

Persons: Sameer Samana Organizations: Wells Fargo Investments, Wells Fargo Investment Institute Locations: Wells Fargo, Samana

☆ China moon samples reveal water molecules in groundbreaking discovery, scientists say
▼ + stars: | 2024-08-05 | by ( Jessie Yeung | ) edition.cnn.com time to read: +9 min

NASA and Indian spacecraft have spotted what they believe to be water on the moon’s surface, and Chinese scientists last year found water trapped in glass beads strewn across the moon. But people didn’t always know there was water on the moon, though scientists theorized about its existence for hundreds of years. “I think it has lots of potential, this new finding that we can extract molecular water directly from lunar soils,” Qian said. After the latest study, many Weibo users raised the possibility of growing plants or crops on the moon using the molecular water found in soil. “We can’t work behind closed doors – it would be best to attract all of their scientists to China,” one wrote.

Persons: China’s Chang’e, ”, David A, Ren Junchuan, Yuqi Qian, didn’t, NASA’s, Luna, Qian, ” Qian, “, Xi Jinping’s, it’s, ” Kring, hasn’t, Bill Nelson, Weibo Organizations: Hong Kong CNN, NASA, Indian, Planetary Institute, University of Hong, China National Space Administration, Xinhua, CNN, “, International Space, Weibo Locations: China, Hong Kong, ULM, Texas, Xinhua, University of Hong Kong, Soviet, SOFIA, United States

☆ North Carolina AG office eyes Elon Musk's pro-Trump PAC after voter data complaint
▼ + stars: | 2024-08-05 | by ( Brian Schwartz | ) www.cnbc.com time to read: +4 min

The America PAC is supporting Republican presidential nominee Donald Trump in the 2024 election against Vice President Kamala Harris, the de facto Democratic nominee. Wheeler alleged America PAC has broken state laws, according to a copy of the complaint reviewed by CNBC. "The America PAC is pretending to be running an online voter registration drive," Wheeler wrote. Representatives for the North Carolina State Board of Elections did not return requests for comment on Wheeler's complaint against America PAC. America PAC has spent over $100,000 on digital advertisements targeting voters in Pennsylvania since early July, according to AdImpact.

Persons: Elon Musk, Chuck Schumer, Donald Trump, Kamala Harris, Musk, Josh Stein, Stein, Jocelyn Benson, Benson's, CNBC's, David Wheeler, Wheeler, Madison Cawthorn, Lauren Boebert, Al Schmidt Organizations: Intelligence, Senate, U.S, Capitol, North Carolina Attorney General's, CNBC, Musk's America PAC, The America PAC, Democratic, SpaceX, PAC, North Carolina, Michigan, Sunday, America PAC, America, North Carolina Board, American, Republican, Rep, Colorado . Representatives, North Carolina State Board, Department Locations: Washington , U.S, America, North Carolina, Michigan, Georgia, Wisconsin, Colorado, Pennsylvania

☆ Suni Lee wins bronze in uneven bars; Kaylia Nemour earns Africa's first gymnastics medal
▼ + stars: | 2024-08-04 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Kaetlyn-Liddy-Byline-Jm.Jpg | Kaetlyn Liddy | ) www.nbcnews.com time to read: +3 min

Suni Lee held down the fort as the only American in Sunday's uneven bars final, earning a bronze and successfully defending her podium finish in Tokyo. Lee had very specific goals in mind for her Olympic encore: a team gold medal, an all-around podium finish, a bars medal and a gold medal on the balance beam. Her gold is the country's first Olympic medal in gymnastics and the first Olympic gymnastics medal for an African nation. The conflict involved contentions over where the uneven bars prodigy would train and allegations that Nemour’s coach was overworking the 17-year-old. Lee and Simone Biles will contend for a beam medal Monday, which is the final day of gymnastics in Paris.

Persons: Suni Lee, Kaylia Nemour, Qiu Qiyuan, Lee, Simone Biles, she's, ” Lee, “, finals.Belgium’s Nina Derwael Organizations: Olympic Games, Nemour, Paris, Games Locations: Tokyo, China, Paris, France, Algeria, French

☆ Here are 4 things we're watching closely in the stock market this week
▼ + stars: | 2024-08-04 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

Stocks had a rough week, topped off with a pummeling Friday after the July jobs data came in weaker than expected. Until then, bad economic news was good news for the stock market, because it meant the Federal Reserve would start cutting interest rates sooner. On Thursday, a drop in U.S. manufacturing activity for July and a jump in initial jobless claims dragged down the market. Next week is light on economic data, so expect earnings reports and CEO commentaries to drive the market action. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Stocks, Dow Jones, Jim Cramer, would've, Eli Lilly, Mounjaro, Berkshire Hathaway, Krystal, Tyson, BAX, Owens, Walt, Oscar Health, CRON, Krispy, Papa, Jim Cramer's, Jim Organizations: Nasdaq, Dow, Reserve, Broadcom, Devices, Palo Alto, PMI, Wynn Resorts, Investors, Wynn, Wynn Palace, U.S . Disney, Management, and Drug Administration, Carlyle Group, Krystal Biotech, Tyson Foods, TSN, Alpha Metallurgical Resources, BioCryst Pharmaceuticals, Axsome Therapeutics, Technologies, Clover Health, Realty Income Corp, Avis Budget Group, CSX Corp, CSX, Simon Property Group, Sterling Construction Company, Teradata Corp, Yum China Holdings, ZoomInfo Technologies, Holdings, Caterpillar, Baxter International, Vulcan Materials Company, Allegheny Technologies Incorporated, Constellation Energy Group, Marathon Petroleum Corp, Owens Corning Inc, Duke Energy Corp, GXO Logistics, Brands, Builders, Wynn Resorts Ltd, WYNN, Rivian Automotive, Devon Energy Corp, GigaCloud Technology Inc, Lumen Technologies, VF Corp, Walt Disney Co, Novo Nordisk, CVS Health, Aurora Cannabis Inc, Emerson Electric Co, Sony Group Corporation, SONY, Inc, ODP Corporation, Icahn Enterprises, MannKind Corp, ACM Research, Brink's Company, AppLovin Corporation, Digital Turbine, Sarepta Therapeutics, Occidental Petroleum Corp, Bros, SolarEdge Technologies, Aspen, Coeur D'Alene Mines Corp, Co, Vistra Energy, Cheniere Energy, Cronos, Himax Technologies, Properties Trust, Papa John's, Paramount Global, Trade, Lab, B2Gold Corp, Honest Company, Gilead Sciences, Growth, Nikola Corporation, Embraer, New Fortress Energy, Construction, Jim Cramer's Charitable, CNBC, Disney, Pixar Locations: Palo, Macau, Las Vegas, Boston, Vegas, Wynn Macau, China, Novo, Coeur, Gilead

☆ Blue-collar entrepreneurs say it's getting harder to turn a profit as competition for 'sweaty startups' heats up
▼ + stars: | 2024-08-03 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +13 min

Sweaty startups are blue-collar businesses, often in unglamorous or laborious fields like septic services, car washes, or lawn care. It's what your grandparents would've just called a small business, but it was a tongue-in-cheek answer to the Silicon Valley-style entrepreneurship being glorified in culture at that time. Still, some small businesses look to private equity to scale their businesses in different markets, even if that means overhauling operations in some cases. "Small businesses partner with private-equity firms because they provide access to capital and organizational support to help companies grow," Drew Maloney, the council's president and CEO, told BI. Alejandro FlorezBoth of his parents were janitors, and when he was a senior in high school he started a small cleaning company that he grew by knocking on doors and cold-calling.

Persons: —, Patrick Hocker, Hocker, he'd, Nick Huber, would've, Huber, he's, Drew Maloney, Stan Chen, Chen, Alejandro Florez, Florez, Chris Salisbury, BuzzFeed — Salisbury, Salisbury Organizations: Service, Business, Bluebird Pest Solutions, Pest, Alpine Investors, American Investment Council, BlackRock, America Locations: Virginia, Pest, Boston, San Francisco, America, Bradenton , Florida, Jacksonville, Orlando, nuDoors, Brooklyn , New York

☆ We're buying more of this tech name and eyeing 6 more stocks as the market drops
▼ + stars: | 2024-08-02 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

Following the trade, Jim Cramer's Charitable Trust will own 260 shares of PANW, increasing its weighting to 2.46% from 2.18%. One way we like to think about buying into a sea of red is remembering what our approach would be if the market was in rally mode. So with stocks selling off, we're looking to do some light buying of high-quality companies with great long-term prospects that we've been waiting for the stock prices to come down. Outside of these tech names, there are some other stocks we may have our eyes on next week. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jim Cramer's, we've, Nikesh Arora, — it's, Jim Cramer, Jim Organizations: Palo Alto Networks, PANW, Nvidia, Web Services, DuPont, Federal Reserve, Jim Cramer's Charitable, CNBC Locations: DuPont, Dover, Wells Fargo

☆ What to watch at Olympics today: Simone Biles, Summer McIntosh look to add to their legacies
▼ + stars: | 2024-08-01 | by ( Lukas Weese | Mark Cooper | ) www.nytimes.com time to read: +6 min

On Thursday, Biles and Lee will both return to Bercy Arena eyeing an individual medal in the event. Biles, the 2016 all-around gold medalist in Rio de Janeiro, led the U.S. women to their first team gold since Brazil on Tuesday. She led the individual all-around competition after qualifying and enters as a heavy favorite to capture her sixth gold medal. McIntosh, 17, won her first Olympic gold medal Monday in the grueling women’s 400-meter individual medley. Marchand, 22, has won gold in all three of his events in Paris, with the 200-meter individual medley remaining.

Persons: —, Simone Biles, A’ja Wilson, Katie Ledecky, Pierre Mauroy, Sunisa Lee, Biles, Lee, Brazil’s Rebeca Andrade, Jordan Chiles, Breanna Stewart, You’re, Diana Taurasi, “ We’re, Stewie Kiefer, Scruggs, Patrick Smith, Lee Kiefer, Lauren Scruggs, Kiefer, United States hasn’t, McIntosh, Summer McIntosh, American Regan Smith, Ledecky, Jenny Thompson, Scottie Scheffler, Rory McIlroy, Ludvig Åberg, Xander Schauffele, Viktor Hovland, Jon Rahm Organizations: Paris Games, Bercy, La Defense, NBC, Olympics, USA, Belgium, WNBA, USA’s, ”, Olympic, United, Le, Tokyo Olympics Locations: Paris, Lille, Nanterre, American, Rio de Janeiro, U.S, Brazil, Japan, “, ” Belgium, Germany, United States, China, Canadian, Saint, Quentin, Yvelines, France

☆ Katie Ledecky becomes most decorated female US Olympian of all-time
▼ + stars: | 2024-08-01 | by ( David Close | ) edition.cnn.com time to read: +2 min

Paris CNN —American superstar swimmer Katie Ledecky on Thursday etched her name into the US history books – again. By winning a silver medal in the women’s 4x200m freestyle relay, Ledecky became the most decorated female US Olympian of all-time with 13 total medals. The result came a day after Ledecky won her first gold of the Paris Games. Ledecky won going away in Wednesday’s 1,500-meter freestyle, her signature race in which she owns the 20 fastest times in history. Speaking to reporters after Wednesday’s race, Ledecky said she doesn’t get caught up in the history.

Persons: Katie Ledecky, –, Ledecky, doesn’t, “, ”, ” Ledecky, Ariarne, hasn’t Organizations: Paris CNN —, Australia, US, Paris Games, Games Locations: Paris CNN — American, China, Wednesday’s, Australia, Los Angeles, LA

☆ Yen braces for BOJ decision with risk events aplenty
▼ + stars: | 2024-07-31 | by ( ) www.cnbc.com time to read: +4 min

That is followed by inflation readings in France and the wider euro zone later in the day, alongside the Federal Reserve's policy decision, which takes center stage. With plenty of risk events to mark the month-end, currency moves were largely subdued in early Asia trade as investors were hesitant to take on fresh positions. "We anticipate that the BOJ will increase interest rates to around 0.25% at the upper limit." "A rate hike could help stabilize the yen's current levels, whereas the absence of a rate hike may trigger renewed selling pressure driven by carry trades." The yen similarly made headway against other currencies, with the euro falling 0.07% to 165.07 yen and the Australian dollar slipping 0.12% to 99.80 yen.

Persons: Gregor Hirt, Sterling eked, Julien Lafargue Organizations: Bank of Japan, Federal, CIO, Allianz Global Investors, Traders, Barclays Private Bank, New Zealand Locations: Bank, France, Asia

☆ Washington, D.C., attorney general sues StubHub, alleging deceptive pricing
▼ + stars: | 2024-07-31 | by ( Jessica Golden | ) www.cnbc.com time to read: +3 min

Washington, D.C., Attorney General Brian Schwalb sued the online ticket exchange platform StubHub on Wednesday, alleging deceptive and unfair pricing. The lawsuit claims StubHub uses deceptive advertising of low ticket prices to lure consumers who pay vastly more after an arduous checkout process. "This is no accident — StubHub intentionally hides the true price to boost profits at its customers' expense," Schwalb said in a statement. In its lawsuit, the attorney general's office said that from 2014 to 2015, StubHub used "all-in pricing," in which the advertised price included mandatory fees. The complaint alleged that StubHub did a testing period where it randomly assigned consumers to one of the two models.

Persons: Brian Schwalb, Schwalb, StubHub, Eric Baker, Viagogo Organizations: San Francisco . Washington , D.C, Labor, of Columbia, Washington , D.C, eBay Locations: San Francisco . Washington ,, Washington ,

☆ Self-driving tech company WeRide accelerates global expansion as transportation industry adopts AI
▼ + stars: | 2024-07-30 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +4 min

(Photo by Jia Tianyong/China News Service/VCG via Getty Images) China News Service | China News Service | Getty ImagesSelf-driving technology firm WeRide is accelerating its global expansion as the artificial intelligence boom boosts adoption of machine learning in transportation. Things are moving relatively fast because of the development of AI right now," said Sebastian Yee, Singapore director of business development at WeRide. In June, the firm began safety testing for "Robosweepers" in Singapore, following similar rollouts in multiple cities in China. watch now"WeRide is the only company which has [driverless] permits from the U.S., China, UAE and Singapore. Some [companies] just have permits from one or two countries, but we have four countries," said Kerry Xu, Singapore general manager of WeRide.

Persons: WeRide, Jia Tianyong, Sebastian Yee, Kerry Xu, Xu, Yee Organizations: SAE, China News Service, Getty Images, Getty, Logistics, Renault, Nissan, Mitsubishi, GAC Group, Nasdaq, U.S, SEC, Changi Airport Locations: BEIJING, CHINA, Beijing, China, Singapore, WeRide, Silicon Valley, Guangzhou, U.S, UAE, Japan, Europe, Cayman Islands, Southeast Asia

☆ Temu and Shein's soaring popularity has Wall Street eyeing China's influence on tech earnings
▼ + stars: | 2024-07-29 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +9 min

The topic of Temu and Shein's growth will hover over tech earnings this week, as Amazon reports second-quarter results alongside Meta, eBay and Etsy. watch nowIn Amazon's report on Thursday, the company is expected to show revenue growth of about 11% to $148.6 billion, according to LSEG. That's where Temu and Shein come into play, as merchants now have new ways to get products to American consumers. Amazon has continued to highlight its delivery prowess and its focus on speed in the face of growing competition from Temu and Shein. However, while it's long touted itself as the "lowest-priced U.S. retailer," Amazon has shown that it's well aware of Temu and Shein's increasing popularity.

Persons: Stefani Reynolds, David Zapolsky, Zapolsky, it's, Shein, Andy Jassy, Jassy, It's, Angus Mordant, Temu, Meta, Susan Li, Jamie Iannone, Etsy, Amazon, Amazon's Zapolsky Organizations: Apple, CNBC, Afp, Getty, eBay, Meta, Etsy, Tech, YouTube, Microsoft, Intel, Qualcomm, Google, PDD Holdings, Amazon, European Union, Bloomberg, Barclays, Finance, EBay, Bank of America, Walmart Locations: U.S, China, Temu, New York, Asia, Pacific, San Francisco, Singapore

☆ Here are JPMorgan's top drug stock picks into earnings
▼ + stars: | 2024-07-29 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

JPMorgan is eyeing a few drug manufacturers ahead of their earnings reports as investors continue to sell out of major technology firms. This backdrop has analyst Chris Schott reviewing JPMorgan's top pharmaceutical and biotechnology stocks, which includes "stories that have clear upside potential to longer-term estimates" like Eli Lilly and Merck. Eli Lilly Pharmaceutical company Eli Lilly made the list. Schott said the firm is somewhat below consensus Wall Street estimates for Eli Lilly heading into second-quarter results on Aug. 8. LLY YTD mountain Eli Lilly stock.

Persons: Johnson, Merck —, Chris Schott, Eli Lilly, Merck, Schott, —, Regeneron Organizations: JPMorgan, Dow Jones, Johnson, Merck, US Major Pharma, Schott, FactSet, Pharmaceuticals Locations: Mounjaro, Novo

☆ Museums closed Native American exhibits 6 months ago. Tribes are still waiting to get items back
▼ + stars: | 2024-07-29 | by ( Associated Press | ) edition.cnn.com time to read: +6 min

NEW YORK AP —Tucked within the expansive Native American halls of the American Museum of Natural History is a diminutive wooden doll that holds a sacred place among the tribes whose territories once included Manhattan. The doll, also called Nahneetis, is just one of some 1,800 items museum officials say they’re reviewing as they work to comply with the requirements while also eyeing a broader overhaul of the more than half-century-old exhibits. We need them close.”Sean Decatur, the New York museum’s president, promised tribes will hear from officials soon. The American Museum of Natural History, he noted, is one of New York’s major tourism draws and also a mainstay for generations of area students learning about the region’s tribes. He suggests museums use replicas made by Native peoples so that sensitive cultural items aren’t physically on display.

Persons: ”, Joe Baker, ” Sean Decatur, Lance Gumbs, ” Gumbs, “ There’s, ” Gordon Yellowman, ” Yellowman, “, Bridgette Russell, Todd Mesek, Nicole Rura, Chuck Hoskin, Baker, ” Baker Organizations: American Museum of, American, Protection, Lenape, York, Eastern, Northwest Coast Hall, Cheyenne, Arapaho Tribes, New, Field, Repatriation, Cleveland Museum, Harvard, Peabody Museum’s, Cherokee Nation, Peabody, Cherokees, Delaware Nation Locations: Manhattan, Delaware, Eastern Woodlands, Great, Decatur, New, Oklahoma, New York, Nebraska, Chicago, America, Ohio, Alaska, American, “, Ontario

☆ SoftBank-backed Ola Electric aims to raise $734 million in India's biggest IPO this year
▼ + stars: | 2024-07-29 | by ( ) www.cnbc.com time to read: +3 min

The new Ola electric scooters displayed during its launch at the Ola headquarters in Bangalore on August 15, 2021. With e-scooter prices starting at around $900, Ola Electric has become the biggest player in a country where adoption of clean vehicles is still low, but rising rapidly. In the IPO, Ola will issue new shares to raise $657 million while existing investors offload their stake of about $77 million to IPO investors, the term sheet showed. Aggarwal and investors such as SoftBank and Matrix Partners will sell part of their stakes in the IPO. Monday's newspaper ad showed 10% of the IPO will be reserved for retail investors, with proceeds going to fund capital expenditure and research and development efforts.

Persons: Manjunath Kiran, MANJUNATH KIRAN, Ola Electric, Narendra Modi's, Tesla, Ola, Bhavish Aggarwal Organizations: Ola, Getty, Tata Motors, TVS, Hyundai, West, Temasek, Fidelity, Nomura, Norges Bank, Reuters, Financial Express, Matrix Partners Locations: Bangalore, India

☆ Meet a boomer living off of $2,700 a month in retirement who plans on moving abroad for cheaper living and political stability
▼ + stars: | 2024-07-28 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +6 min

"I always tried to put a little bit aside, like change and dollar bills and whatnot. That's a problem that's going to stick around, as female "peak boomers" — Americans turning 65 between 2024 and 2030 — have, on median, $185,086 in retirement assets. Men in that group, comparatively, have $268,745, according to the Alliance for Lifetime Income and the Retirement Income Institute. "It looks like something that I could afford to live a little bit more, a little bit better; my income would stretch a little bit more," she said. However, after connecting with a friend who's made the move and found community, Dee is ready to move forward once again.

Persons: —, she's, I've, Dee —, Dee, would've, That's, She's, who's, it's, I'm Organizations: Service, Business, Social Security, Alliance for Lifetime, Income, Central America Locations: Georgia, chemo

☆ Blinken meets China’s top diplomat in Laos as global giants keep communication lines open
▼ + stars: | 2024-07-27 | by ( Nectar Gan | Kylie Atwood | ) edition.cnn.com time to read: +6 min

Russia’s invasion of Ukraine, as well as China’s increasingly assertive moves in the South China Sea and threats toward Taiwan, have in recent years soured the Washington-Beijing relationship. In contrast, both Putin and Russia’s top diplomat Sergei Lavrov have been greeted in Beijing multiple times since the invasion. against a backdrop of increasingly violent clashes between Manila and Beijing in the South China Sea. “We are pleased to take note of the successful resupply today of the Second Thomas Shoal, which is the product of an agreement reached between the Philippines and China,” Blinken said. His running mate JD Vance has advocated halting military aid to Ukraine in favor of focusing on Taiwan’s defense.

Persons: Antony Blinken, Blinken, Wang Yi, Joe Biden’s, China’s, Xi Jinping’s, Russia’s Vladimir Putin, Wang, Dmytro Kuleba, Beijing “, ”, Putin, Sergei Lavrov, Kuleba, Lavrov, Russia …, “, ” Lavrov, Ferdinand Marcos Jnr, Beijing’s, Shoal, Thomas, ” Blinken, Biden, Donald Trump, JD Vance, Kamala Harris Organizations: Hong Kong CNN, United, Foreign, ASEAN, Laos –, North American Aerospace Defense Command, NATO, Ukraine, European Union, Ukrainian Foreign, South China, Republican, Democratic Locations: Hong Kong, China, Laos, Asia, Vietnam, Japan, Philippines, Singapore, Mongolia, Ukraine, South, Taiwan, Washington, Beijing, Alaska, Russia, Moscow, Russia’s, Southeast Asia, South Korea, Manila, South China

☆ Stock market today: Nasdaq suffers worst day since 2022 as weak earnings spark steep sell-off
▼ + stars: | 2024-07-24 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

US stocks dropped Wednesday, with the Nasdaq seeing its steepest single-day loss since 2022. AdvertisementUS stocks dropped on Wednesday, led by a steep sell-off in the tech sector after the first batch of mega-cap earnings disappointed investors. Tesla shares dropped 12% after the carmaker missed earnings estimates and logged a big drop in auto revenue. AdvertisementOther mega-cap tech stocks also tumbled in Wednesday's session as investor sentiment soured. Investors are waiting on more mega-cap tech earnings, with Meta, Apple, and Amazon set to report their financials next week.

Persons: — Organizations: Nasdaq, Service, Dow Jones Industrial, YouTube, Nvidia, Meta, Tech, Apple, Here's Locations: Tech

☆ Stock market today: US stocks slide as high-profile earnings disappoint
▼ + stars: | 2024-07-24 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

US stocks tumbled on Wednesday as traders digested weak tech earnings. Tesla missed on earnings last quarter, while Alphabet said YouTube ad revenue fell short. AdvertisementUS stocks continued their slide on Wednesday, led by a decline in tech stocks after Alphabet and Tesla reported earnings for the second quarter. Investors mulled a disappointing round of earnings reports on Tuesday, with Tesla missing earnings estimates and Alphabet reporting that its YouTube ad revenue fell short the last quarter. Investors are eyeing a slew of coming high-profile earnings, with Meta, Apple, and Amazon on deck to report their financials next week.

Persons: Tesla, —, David Morrison, Will today's Organizations: Service, YouTube, Elon, Trade, Meta, Apple, Here's

Wiz has walked away from a $23 billion deal to be acquired by Google, in what would have been the search giant's largest-ever deal, telling employees it would pursue an initial public offering as it initially planned. The deal would have nearly doubled the $12 billion valuation of the startup from its most recent round of funding. Alphabet's cloud segment has been under pressure to grow amid competition from frontrunners Microsoft and Amazon, something the Wiz deal would have helped with. The shift benefited Wiz, which can flag security issues for applications and data on the Amazon, Google, Microsoft and Oracle public clouds. In an interview with CNBC's Sara Eisen and Carl Quintanilla at the New York Stock Exchange last year, Eisen asked Rappaport if he wants to take the startup public.

Persons: Sundar Pichai, Wiz, Assaf Rappaport, Rappaport, Thomas Kurian, Brendan Burke, It's, Doug Leone, Covid, Sid Trivedi, CNBC's Sara Eisen, Carl Quintanilla, Eisen Organizations: Alphabet Inc, Government, Society, Google, CNBC, Microsoft, Index Ventures, Insight Partners, Lightspeed Venture Partners, Sequoia, PitchBook, Intuit, Ventures, Sequoia Capital, Wiz's, Wiz, Oracle, Foundation Capital, Motorola, Lenovo, New York Stock Exchange Locations: Stanford , California, Sequoia

☆ I'm an American mom who raised my kids in Spain. They considered going to the US for college but changed their minds.
▼ + stars: | 2024-07-23 | by ( Erin Liam | ) www.businessinsider.com time to read: +5 min

But the more we compared the European college experience to that of the US, the more we were drawn to Europe. Going to college in Europe, however, would allow him to meet people of different backgrounds. After taking a gap year in 2021, Gavin decided to pursue a degree in Culinary Entrepreneurship at Technological University Dublin in Ireland. AdvertisementAs a Wyoming resident, Gavin would have paid $5,190 for tuition at the University of Wyoming, excluding other costs. However, he considered the University of New Hampshire, where tuition costs $36,170 yearly for out-of-state students, excluding housing and other fees.

Persons: —, Jackie Baxa, Gavin, Baxa, Kaden, he's, we've, It's, He's, We've, Erin, eliam@businessinsider.com Organizations: Service, Business, Entrepreneurship, Technological University, European Union, Technological University of Dublin, Housing, University of Wyoming, University of New Locations: Spain, Seville, Europe, Jackson Hole , Wyoming, Technological University Dublin, Ireland, Dublin, Milan, Amsterdam, Wyoming, University of New Hampshire

☆ Kamala Harris' ascent puts California back in the driver's seat of national politics
▼ + stars: | 2024-07-23 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

Biden won California by 29 points in 2020, and Harris will surely win the deep blue state in her own right. Along the way, Harris' political trajectory opened up doors to places that other candidates eyeing the White House have to fly across the country to reach. AdvertisementAs a presidential candidate, Harris won't be a stranger to the tech giants that fueled so much growth in her state. And should Harris win the White House, there'd be a familiar face influencing policy and legislation on relevant tech issues for the foreseeable future, which is something that doesn't come along everyday. Harris hasn't secured the Democratic nomination yet, but if she does, California could be in for some of its sunniest days yet.

Persons: —, Nancy Pelosi, Kevin McCarthy, Pelosi, McCarthy, Kamala Harris, Joe Biden, Harris, Biden —, Hillary Clinton, Mike Levin, there'd, Harris hasn't Organizations: Service, US, Capitol, Business, Democratic, Biden, California, Senate, White Locations: San Francisco Bay, California, Delaware, Golden State, Los Angeles County, Orange County, Orange, San Diego, Oakland, San Francisco, Francisco's, Hollywood, Silicon, Los Angeles

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