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☆ US housing starts surge in boost to economy
▼ + stars: | 2023-08-16 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

The sharp rebound in groundbreaking on single-family housing units reported by the Commerce Department on Wednesday was another sign of the economy continuing to defy dire forecasts of a recession. Single-family housing starts, which account for the bulk of homebuilding, jumped 6.7% to a seasonally adjusted annual rate of 983,000 units last month. The increase in groundbreaking was led by the West, where single-family starts soared 28.5%. Overall housing starts increased 3.9% to a rate of 1.452 million units in July. TIGHT SUPPLYDespite the rise in starts, housing supply is likely to remain tight.

Persons: Mike Blake, homebuilding, Christopher Rupkey, Freddie Mac, Nancy Vanden, Daniel Silver, Goldman Sachs, Lucia Mutikani, Chizu Organizations: REUTERS, WASHINGTON, Commerce Department, Federal, National Association of Home Builders, Reuters, Oxford Economics, Treasury, Realtors, U.S, Fed, JPMorgan, Thomson Locations: San Marcos , California, U.S, New York, homebuilding, Nancy Vanden Houten, Midwest

☆ Typhoon Lan Knocks Out Power for Thousands in Western Japan
▼ + stars: | 2023-08-15 | by ( Hikari Hida | More About Hikari Hida | ) www.nytimes.com time to read: +1 min

Typhoon Lan pummeled western Japan on Tuesday, prompting local officials to issue evacuation warnings, knocking out power to thousands of homes, canceling hundreds of flights and disrupting summer traditions like a nationwide baseball tournament. Moving in from the Pacific Ocean, the tropical storm had maximum sustained winds of 67 miles per hour, with gusts of 89 m.p.h. All commercial flights out of Kansai airport had been suspended for the day, with more than 800 canceled nationwide. Train and bus services in the region had also been suspended. Tornado warnings were issued for central Shizuoka Prefecture just before noon by the Japan Meteorological Agency, which warned of thunderstorms, wind gusts, and hail.

Persons: Lan Organizations: Japan Meteorological Agency Locations: Japan, Shionomisaki, Wakayama Prefecture, Akashi, Hyogo Prefecture, Kansai, Shizuoka Prefecture

☆ Investors pummeled by tech in 2022 make new bets on sector in second quarter
▼ + stars: | 2023-08-14 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +2 min

Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. The deadline for so-called 13-F filings for the second quarter is on Monday. 2023 has been a better year for investors, with the S&P 500 (.SPX) stock market index up 16% in the first half after a 20% drop in full-year 2022. IPhone maker Apple (AAPL.O), retailer Amazon, electric vehicle maker Tesla (TSLA.O), chip maker Nvidia and technology company Meta are among the group that accounted for 73% of the market's gains. Second-quarter filings suggest many hedge funds ramped up their bets on technology stocks that suffered last year.

Persons: Mike Segar, Meta's, Philippe Laffont, Svea Herbst, Bayliss, Matthew Lewis Organizations: Wall, New York Stock Exchange, REUTERS, Amazon.com, Meta, Coatue Management, Microsoft, Tiger Global Management, Nvidia, Investment, Securities and Exchange, Apple, Svea, Thomson Locations: Manhattan, New York City , New York, U.S, New York

☆ Harlem, Pummeled by the Pandemic, Experiences a Tourism Revival
▼ + stars: | 2023-08-08 | by ( Kate King | Photographs Yuvraj Khanna For The Wall Street Journal | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/harlem-pummeled-by-the-pandemic-experiences-a-tourism-revival-f58ca260

Persons: Dow Jones Locations: harlem

☆ ‘Going Concern,’ Going Bust
▼ + stars: | 2023-08-04 | by ( Jason Karaian | ) www.nytimes.com time to read: 1 min

A going concern is a company that will continue to operate for at least a year. But the term is rarely brought up unless a company is in trouble — that is, in cases where it has doubts it could continue as a going concern. If managers or auditors believe that a company is at risk of going bust within 12 months, they are required to formally express that doubt in their financial accounts. The dreaded warning, usually buried in the fine print, often leads to sharp declines in a company’s stock price, angst for creditors and worries among employees. As companies have been upended by the pandemic, high inflation and pummeled by rising interest rates, going-concern warnings in company filings have spiked, according to Audit Analytics, a research firm.

☆ China's capital Beijing battered by heaviest rainfall in 140 years
▼ + stars: | 2023-08-02 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

Massive rescue and relief efforts are underway in response to typhoon-induced torrential rains in Beijing. China's capital Beijing has been pummeled by the heaviest rainfall in 140 years, leaving at least 20 dead. China has been buffeted by heavy storms as Typhoon Doksuri swept north after slamming southern Chinese provinces. Doksuri made landfall in China's Xiamen and Quanzhou on Monday morning, and caused "severe flooding in Beijing," according to a report by the NASA Earth Observatory. The typhoon was one of the worst storms to hit northern China in years, and the torrential rain in Beijing has killed at least 20 people as of Tuesday.

Persons: Doksuri Organizations: Beijing Meteorological Bureau, NASA, Observatory Locations: Beijing, China, Doksuri, China's Xiamen, Quanzhou

☆ Eleven Dead and 27 Missing, as Heavy Rains Batter Beijing
▼ + stars: | 2023-07-31 | by ( Chris Buckley | More About Chris Buckley | ) www.nytimes.com time to read: +1 min

The intense rain prompted Beijing to close tourist attractions like the ancient Forbidden City. On Tuesday, the Beijing government announced that, in addition to the 11 killed in the flooding — including two rescue workers — another 27 were missing, implying that the death toll could rise significantly. Most of the fatalities were in the outer parts of Beijing, including Mentougou District, where video shared by local news outlets on Monday showed cars being swept down a swollen river. Chinese television later showed footage of residents in the district walking through muddy streets strewn with cars that had been washed away. The Beijing government said 13 of the missing were in Mentougou, and another 10 were in Changping, another semi-rural district.

Locations: Beijing, city’s, Mentougou, Changping

☆ These are the states in America that are the least prepared for extreme weather
▼ + stars: | 2023-07-28 | by ( Scott Cohn | ) www.cnbc.com time to read: +11 min

Some states are in good shape to handle whatever the climate throws at them, but these are the states most at risk. 2023 Infrastructure score: 228 out of 390 points (Top States grade: B) Climate Extremes Index: 21.16% Properties at risk: 45.2% Renewable energy: 10.6%9. 2023 Infrastructure score: 165 out of 390 points (Top States grade: D) Climate Extremes Index: 8.7% Properties at risk: 2.8% Renewable energy: 12%8. Connecticut is home to the nation's first "green bank," which uses public dollars to leverage private investment in renewable energy. 2023 Infrastructure score: 227 out of 390 points (Top States grade: B) Climate Extremes Index: 21.16% Properties at risk: 61% Renewable energy: 12.5%1.

Persons: Jeremy Porter, York Snow, Joed Viera, Kelly Giddens, Daniel Hinton, Jessica Mcgowan, wades, Tim Boyle, Tony Evers, Scott Olson, Josh Edelson, Gavin Newsom, —, Marcellus, Tom Wolf, Josh Shapiro, Ida, Brendan McDermid, Hurricane Ida, Richard Bunting, Alex Hamilton, Hurricane Irene, Mark Wilson, Joe Biden's, Ted Shaffrey, Hurricane Nicole, Paul Hennessy, Marco Bello Organizations: Street Foundation, CNBC, Business, First, Oceanic, Atmospheric Administration, NOAA, U.S, Department of Energy, Afp, Getty, National Weather Service, Micron Technology, Alabama, University of Alabama, Illinois —, Badger State, Gov, Carolina, Carolinas, AFP, EQT Corp, Bloomberg, Reuters, Garden, State, Anadolu Agency, Sunshine State, Farmers Insurance, AAA Locations: States, York, Buffalo , New York, Empire, New York, Syracuse, Alabama TUSCALOOSA, AL, Cedar, Tuscaloosa , Alabama, Texas, Oklahoma, Alabama, Gulf, Wisconsin, Prairie du Chien , WI, Hurricane, Charleston , South Carolina, Florida, Georgetown , South Carolina, South Carolina, California, Oroville, Oroville , California, , California, Pennsylvania, Washington Township , Pennsylvania, U.S, Jersey, Oakwood, Elizabeth , New Jersey, Garden State , New Jersey, New Jersey, Delaware, Lewes , Delaware, Rhode, Connecticut, New Haven , Connecticut, Wilbur, , Florida, Louisiana, Kenner , Louisiana

CNN —Italy is facing multiple kinds of extreme weather at once, with southern parts of the country scorched by blistering heat, while the north is battered by deadly storms. On Tuesday alone, extreme weather killed at least three people, according to Italian authorities. Fabrizio Radaelli/EPA-EFE/ShutterstockAs storms disrupt the north, the south is sweltering under an extreme heat wave. Ufficio Stampa Gesap via ReutersMost budget airlines have been diverted to Trapani airport, according to the Palermo airport authority. Catania has also been affected by power and water supply cuts in part because of the extreme heat, according to Reuters.

Persons: Fabrizio Radaelli, Palermo’s Falcone, Falcone, Borsellino, Stampa, Nello Musumeci, ” Musumeci Organizations: CNN, Firefighters, SkyTG24, Stampa Gesap, Reuters, Twitter Locations: Italy, Veneto, Sicily, Palermo, Trapani, Catania

CNN —Ukraine’s Defense Minister Oleksii Reznikov says that Ukraine will continue carrying out attacks on Russian-occupied Crimea and the Kerch Bridge that connects it to the Russian mainland, while also admitting that Ukraine’s plan for its sluggish counteroffensive is behind schedule. As Russia has pummeled the southern port city of Odesa and the surrounding region over the past week, Ukraine has continued to carry out strikes inside Crimea. On Tuesday, Ukrainian drones hit an ammunition depot, just a week after seaborne drones struck the Kerch bridge. If Ukrainian forces can successfully puncture Moscow’s sizeable defense lines along Ukraine Sea of Azov coastline that links Crimea to Donbas, Reznikov said it would be “a good result” for Kyiv. Ukraine has gained “real combat experience – how to deter Russians, to defeat them, to beat them with using NATO standard weaponry,” he added.

Persons: CNN —, Oleksii Reznikov, ” Reznikov, Reznikov, CNN’s Alex Marquardt, “, ”, ‘, Volodymyr Zelensky, “ ” Organizations: CNN, CNN — Ukraine’s, Senior, Ukrainian, Ukrainian Armed Forces, Reuters, Western, Kyiv, NATO Locations: Ukraine, Crimea, Kerch, Russian, Russia, Odesa, Moscow, “, Ukrainain, Reuters Moscow, Kyiv, Reuters Ukrainian, Donbas, Kherson, Kharkiv, United States, France, Germany, Europe, Lithuanian, Vilnius, NATO, Washington

The S&P 500 banking index (.SPXBK) added 1.5%, but was still down 1.8% this year in the aftermath of a banking crisis that took down three lenders and pummeled the regional banking sector. The benchmark S&P 500 index (.SPX) has notched a 19.2% gain in the same period. Elevance Health (ELV.N) advanced 5.1% and was among top gainers on the S&P 500 after the health insurer forecast an upbeat annual profit. Halliburton(HAL.N) shed 2.8% after posting disappointing quarterly revenue, while Baker Hughes(BKR.O) edged up 0.5% after beating quarterly earnings expectations. The S&P index recorded 36 new 52-week highs and no new lows, while the Nasdaq recorded 117 new highs and 42 new lows.

Persons: Goldman, Goldman Sachs, Mike Loewengart, Dow, Baker Hughes, Bansari Mayur Kamdar, Johann M, Saumyadeb Chakrabarty, Maju Samuel Organizations: T Bank, Dow, Nasdaq, Big, Morgan Stanley Global Investment, Citizens, U.S, U.S . Federal, US Bancorp, Dow Jones, Netflix, IBM, Verizon, Elevance, Halliburton, NYSE, Thomson Locations: Big U.S, U.S ., Minneapolis, Bengaluru

Big U.S. lenders rallied on Tuesday after they said higher interest rates had helped boost profits in the second quarter. The S&P 500 banking index (.SPXBK) has fallen 3.4% this year in the aftermath of a banking crisis that took down three lenders and pummeled the regional banking sector. The benchmark S&P 500 index (.SPX) has notched an 18.6% gain in the same period. Among other lenders, Citizens Financial(CFG.N) and M&T Bank(MTB.N) beat Wall Street estimates for second-quarter profit, benefiting from the U.S. Federal Reserve's rapid rate hikes. ET, Dow e-minis were up 7 points, or 0.02%, S&P 500 e-minis remained unchanged, and Nasdaq 100 e-minis were up 22.5 points, or 0.14%.

Persons: Goldman Sachs, Goldman, Dennis Dick, noteholders, Bansari Mayur Kamdar, Johann M, Saumyadeb Chakrabarty, Maju Samuel Organizations: T Bank, Dow, Nasdaq, Street, Big, Triple D, Citizens, U.S, U.S . Federal, Dow e, Credit Suisse, Netflix, IBM, Microsoft, Verizon, Elevance, VMware, Federal Reserve, Thomson Locations: Big U.S, U.S ., Bengaluru

☆ MLB roundup: D-backs best Braves in 29-run game
▼ + stars: | 2023-07-19 | by ( ) www.reuters.com time to read: +11 min

Emmanuel Rivera homered and Ketel Marte had three hits and three RBIs for Arizona, which snapped a four-game losing streak. The D-backs prevailed in the wild contest despite the efforts of Atlanta's Austin Riley, who homered twice and had a career-high seven RBIs. Arizona tied the game at 13-13 with two outs in the eighth when Dominic Canzone delivered an RBI single for his first career hit. Jonathan India homered and fell just a triple shy of the cycle for the Reds, who lost their fifth straight game. Rockies 4, Astros 3Kris Bryant and Ryan McMahon hit consecutive home runs in the first inning and Colorado beat Houston in Denver.

Persons: Christian Walker, Brett Davis, Geraldo Perdomo, Emmanuel Rivera, Ketel Marte, Miguel Castro, Kevin Ginkel, Atlanta's Austin Riley, Orlando Arcia, Sean Murphy, Dominic Canzone, Perdomo, Raisel Iglesias, Marte, Alex Kirilloff, Bailey Ober, Edouard Julien, Kyle Farmer, Carlos Correa, Eugenio Suarez, Bryan Woo, Wilmer Flores, Flores, Monday's, Barry Bonds, Joey Votto, Jake Fraley, Will Benson, Christian Encarnacion, Strand, Joc Pederson, Pederson, Brett, Michael Conforto, Ian Gibaut, Tyler Rogers, Camilo Doval, Jonathan India, Ryan Noda, JJ Bleday, Luis Medina, Sam Long, Shintaro Fujinami, Sam Moll, Trevor May, Joe Jacques, Noda, Aledmys Diaz, Bleday, Patrick Wisdom's tiebreaking, Seiya Suzuki, Suzuki, Miguel Amaya, Mike Tauchman, Nico Hoerner, Miles Mastrobuoni, Lane Thomas, Corey Dickerson's, Francisco Alvarez, Brett Baty, DJ Stewart, Jeff McNeil, Tommy Pham, Francisco Lindor, Pete Alonso, Yasmani Grandal, Jake Burger, Tim Anderson, Josh Naylor, Josh Bell, Logan Allen, Amed Rosario, Myles Straw, Allen, Connor Joe, Mitch Keller, Kyle Schwarber, Bryson Stott, Schwarber, Julio Teheran's, Aaron Nola, Andruw Monasterio, Brice Turang, Mickey Moniak, Patrick Sandoval, Shohei Ohtani, Domino, Gleyber Torres, Juan Soto, Joe Musgrove, Manny Machado, Gary Sanchez, Trent Grisham, Musgrove, Bo Bichette, Alek Manoah, Jason Heyward, Michael Grove, Will Smith, Freddie Freeman, Aaron Hicks, Tyler Wells, Baltimore's, Nolan Arenado, Brendan Donovan, Louis, Jordan Montgomery, JoJo Romero, Edward Cabrera, Jon Berti, Dairon Blanco, Maikel Garcia, Edward Olivares, Spencer Torkelson, Javier Baez, Marcus Semien, Corey Seager, Nathan Eovaldi, Taj Bradley, Travis Jankowski, Randy Arozarena, Brandon Lowe, Kris Bryant, Ryan McMahon, McMahon, Fernando Abad, Justin Lawrence, Alex Bregman Organizations: Arizona Diamondbacks, Atlanta Braves, USA, Arizona, Mariners, Minnesota, Seattle, Twins, Giants, Reds, Cincinnati, San Francisco, Athletics, Red Sox, Oakland, Boston, Cubs, Nationals, Chicago, Pittsburgh Pirates, Washington, Mets, White Sox, New, Pirates, Cleveland pummeled, Guardians, Phillies, Brewers, Philadelphia, Milwaukee, Yankees, Padres, Blue Jays, Diego, Toronto, Dodgers, Orioles, Los Angeles, Baltimore, Marlins, Cardinals, Royals, Tigers, Kansas City outslugged, Rangers, Rays, Texas, Tampa Bay, Astros, Colorado, Houston, Rockies, Thomson Locations: Atlanta , Georgia, USA, Truist, Arizona, Seattle, Francisco, San Francisco, Medina, Washington, New York, Cleveland pummeled Pittsburgh, Angeles, Anaheim , Calif, Sandoval, St, Miami, Kansas City outslugged Detroit, Arlington , Texas, Semien, Denver

Bank of America (BAC.N) rose marginally in premarket trading after the lender posted a 20% surge in second-quarter profit, while Morgan Stanley's (MS.N) shares pared early gains after the bank's profit slipped 18%, hurt by a deal-making drought. The S&P 500 banks index (.SPXBK) has fallen 5.2% so far this year, underperforming the S&P 500 index (.SPX) which has notched a 17.8% gain after the biggest banking crisis since 2008 earlier this year took down three lenders and pummeled the sector. Overall earnings across industries are expected to decline 8.1% for the quarter, according to Refinitiv data. ET, Dow e-minis were down 18 points, or 0.05%, S&P 500 e-minis were down 3.75 points, or 0.08%, and Nasdaq 100 e-minis were down 26.25 points, or 0.17%. Pinterest (PINS.N) gained 3.3% as Evercore ISI upgraded its rating on the stock to "outperform" and Marvell Technology (MRVL.O) climbed 1.1% after Bank of America added the chipmaker to its U.S. No.1 list.

Persons: Morgan Stanley, Morgan Stanley's, Sam Stovall, Wells, Lockheed Martin, Bansari Mayur Kamdar, Johann M, Nivedita Bhattacharjee Organizations: Bank of America, Dow, Nasdaq, CFRA Research, JPMorgan Chase, Bank of New York Mellon, PNC Financial Services, Lockheed, Dow e, Federal Reserve, ISI, Marvell Technology, U.S, Thomson Locations: New York, Bengaluru

Shares of Charles Schwab jumped 13.2%, leading gains on the S&P 500 (.SPX), and those of PNC rose 2.6%. The S&P 500 banks index (.SPXBK) has fallen 3.9% so far this year, in the aftermath of a banking crisis that took down three lenders and pummeled the sector, underperforming the S&P 500 index (.SPX) that has notched a 17.8% gain in the same period. ET, the Dow Jones Industrial Average (.DJI) was up 141.63 points, or 0.41%, at 34,726.98, the S&P 500 (.SPX) was up 3.12 points, or 0.07%, at 4,525.91, and the Nasdaq Composite (.IXIC) was down 43.61 points, or 0.31%, at 14,201.34. Eight of the top 11 S&P 500 sectors advanced with industrials (.SPLRCI) leading gains, while technology stocks (.SPLRCT) fell 0.6%. The S&P index recorded 20 new 52-week highs and no new lows, while the Nasdaq recorded 65 new highs and 33 new lows.

Persons: Morgan Stanley, Lockheed Martin, MS.N, Robert Pavlik, Wells, Charles Schwab, Bansari Mayur Kamdar, Johann M, Nivedita Bhattacharjee Organizations: Bank of America, Lockheed, Dow, Nasdaq, Dakota Wealth ., . Federal, JPMorgan Chase, PNC Financial Services, PNC, Dow Jones, industrials, Wall, U.S . Federal Reserve, ISI, NYSE, Thomson Locations: ., Bengaluru

☆ Morning Bid: China falls short and oil ebbs but banks impress
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: +4 min

Sub-forecast and sharply slowing retail sales growth for June likewise offset a more upbeat industrial output readout for the months. Even though falling import and export prices in June reinforced the disinflation picture, two-year Treasury yields recouped some of the week's steep declines. LUXURY FIRMSU.S. stock futures were little changed ahead of Monday's open, but two-year Treasury yields edged back lower to 4.72%. Elsewhere, shares of Richemont (CFR.S) dropped nearly 7% after the world's second-biggest luxury firm reported a miss in its sales and amid the China growth dampener. U.S. Treasury Secretary Janet Yellen said she was working with India on energy transition and "eager" to work with China on debt workouts.

Persons: Mike Dolan China's, Wells, Morgan Stanley, Janet Yellen, Mike Dolan, Alison Williams Organizations: Hong, Reserve, Nasdaq, Treasury, JPMorgan, Citi, Bank of America, Tesla, Netflix, York Federal, governor's, . Treasury, Reuters, Thomson Locations: U.S, China, Hong Kong, Tokyo, Asia, Shanghai, Wall, Richemont, India, Russia, China . U.S

☆ South Korea flood death toll rises to 39 as Yoon orders all-out effort
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: +1 min

SEOUL, July 17 (Reuters) - South Korean President Yoon Suk Yeol ordered on Monday an all-out effort to handle the devastation caused by days of torrential rain, as the death toll grew to 39 on Monday, including a dozen people found dead in a submerged underpass. The rains have pummeled the country's central and southern regions since Thursday, as the rainy season starting in late June reaches its peak, with the interior ministry also reporting nine people missing and 34 injured. Among the casualties, 12 deaths occurred in a tunnel in the central city of Cheongju, where some 16 vehicles, including a bus, were swamped by a flash flood on Saturday after a levee of a nearby river collapsed. Yoon convened an intra-agency meeting on disaster response and called for authorities to make the utmost effort to rescue victims and vowed support for recovery work, including designating affected areas as special disaster zones. Reporting by Hyunsu Yim Editing by Ed DaviesOur Standards: The Thomson Reuters Trust Principles.

Persons: Yoon Suk Yeol, Yoon, Hyunsu Yim, Ed Davies Organizations: Thomson Locations: SEOUL, Cheongju

Dnipro, Ukraine CNN —The much-anticipated and controversial American-made cluster munitions that the United States agreed to supply to Kyiv are now in Ukraine, according to a Ukrainian general and the Pentagon. On Thursday afternoon the Pentagon confirmed the presence of the munitions in country, saying “There are cluster munitions in Ukraine at this time.”Tarnavsky is commander of the “Tavria” Joint Forces Operation, which is operating on a large section of the southern Ukraine front. But they are very worried.”Eyebrows were raised at the US delivery of these cluster munitions, which are banned in over 100 countries. The general says Ukraine is carrying out “large scale offensives,” while also admitting Ukrainian troops have made modest gains, especially in the south. Russian lossesA rising star in the Russian military, Lt. Gen. Oleg Tsokov, was injured and killed in the Russian-occupied city of Berdyansk, on the Azov Sea.

Persons: Oleksandr Tarnavsky, Tarnavsky, Defense Lloyd Austin, CNN’s Wolf Blitzer, “, ”, ” ‘, ” Tarnavsky, Oleg Tsokov, Tsokov, Tarnavskiy, He’s, Wagner, Yevgeny Prigozhin, Vladimir Putin Organizations: Ukraine CNN, Pentagon, CNN, ”, Forces, Russian, Defense, ” Kyiv, Russian Telegram, Military Locations: Dnipro, Ukraine, United States, Kyiv, Ukrainian, ” Brig, Austin, Russian, Berdyansk, Azov

SummaryCompanies JPMorgan gains on Jefferies' upgrade ahead of earningsMegacaps recover after dip ahead of Nasdaq 100 rebalanceFutures up: Dow 0.02%, S&P 0.11%, Nasdaq 0.16%July 11 (Reuters) - U.S. stock index futures inched higher on Tuesday ahead of key inflation data that could support a sooner-than-expected end to the Federal Reserve's rapid interest-rate hikes. "The big-cap Nasdaq index is going to adjust weightings vs. a full addition or deletion. Also, far more money tracks the S&P 500, which is why S&P 500 component changes get a lot more attention than Nasdaq 100 moves." The S&P 500 banks index (.SPXBK) has shed 9% so far this year in the aftermath of the biggest crisis since 2008 that pummeled regional lenders. The sub-index is underperforming the benchmark S&P 500 index (.SPX), which has notched a 14.9% gain.

Persons: Joshua Warner, Hogan, Jefferies, Johann M Cherian, Shinjini Ganguli, Arun Koyyur Organizations: JPMorgan, Jefferies, Nasdaq, Dow, Federal, Fed, Index, Treasury, Nasdaq Inc, Riley, Dow e, JPMorgan Chase, Zions Bancorp, Truist, Thomson Locations: U.S, Bengaluru

All eyes will be on U.S. inflation data this week that will feed into the Federal Reserve's interest rate decision later in the month. A Reuters poll of economists showed they suspect that growth in consumer prices likely slowed in June. Most megacap technology and growth stocks, valuations in which come under pressure when borrowing costs rise, eased in premarket trading, with Apple (AAPL.O) and Alphabet (GOOGL.O) down 0.7% each. Overall, earnings for the S&P 500 constituents are expected to fall 5.7% in the second quarter, Refintiv data showed. ET, Dow e-minis were up 19 points, or 0.06%, S&P 500 e-minis were down 4.5 points, or 0.1%, and Nasdaq 100 e-minis were down 41.25 points, or 0.27%.

Persons: Carl Icahn, Wall, JPMorgan Chase, Ipek Ozkardeskaya, Li Auto, Johann M Cherian, Saumyadeb Chakrabarty Organizations: Citigroup, Dow, Nasdaq, Traders, Apple, JPMorgan, Swissquote Bank, Dow e, China Association of Auto Manufacturers, Ichan Enterprises, Thomson Locations: China, U.S, Bengaluru

☆ Opinion | The Tale of Two Invasions: What the Last Attack on Jenin Tells Us About Israel Now
▼ + stars: | 2023-07-10 | by ( Tareq Baconi | ) www.nytimes.com time to read: +3 min

Like Jenin, the Gaza Strip also has a history of resistance against Israeli occupation. Alongside food restriction policies and an economic chokehold, this took the form of devastating military assaults. In the time between the two invasions of Jenin, Palestinians throughout the West Bank have been systematically funneled — through land expropriation, home demolitions and expansion of settlements — into isolated urban centers surrounded by land occupied by Israel. Just like Gaza, most urban centers in the West Bank can now be, overnight, entirely severed from the ecosystem around them, as was witnessed in Jenin. “We have to settle the land of Israel and at the same time need to launch a military campaign, blow up buildings, assassinate terrorists.

Persons: Sharon, naïvely, Israel, B’Tselem, Itamar Ben Gvir, ”, “ Organizations: West Bank, Bank Locations: Israel, Gaza, Jenin, Egypt, Palestine, pummeled, Today

Torrential rainfall and widespread flooding wreaked havoc in the river valleys and mountain towns of Vermont and New York State on Monday, ravaging communities and drawing comparisons to the devastation of Tropical Storm Irene more than a decade ago. The storm caused a night of chaos in New York on Sunday, particularly in the Hudson Valley, where up to eight inches of rain fell in some areas and one person died. But its center had shifted to Vermont by Monday, putting the landlocked and mountainous state — and particularly a number of tiny, isolated towns along rivers and creeks, just as when Irene struck — in the cross hairs for major flooding. “What’s different for me is that Irene lasted about 24 hours,” he said at a news conference on Monday. “We’re getting just as much rain, if not more, and it’s going on for days.

Persons: Irene, —, Phil Scott of Vermont, “, ”, “ We’re, It’s Organizations: New York State, Gov Locations: Vermont, New York, Hudson

☆ The US is close to approving the supply of ATACMS to Ukraine, a report said. Here's why Kyiv need them to win the 'deep battle.'
▼ + stars: | 2023-07-02 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +5 min

The US is considering providing ATACMS to Ukraine, according to a WSJ report. Kyiv has long sought its ballistic missiles, which could strike targets far beyond the front lines. "ATACMS is a long-range guided missile that gives operational commanders the immediate firepower to win the deep battle," says its manufacturer, Lockheed Martin. The Pentagon said on Thursday that it was not aware of any imminent decision to send ATACMS to Ukraine following the Wall Street Journal report, per Reuters. However, US and European officials say that behind the scenes, the tone in Washington has recently shifted, and there appears to be a greater appetite to send Ukraine more advanced weapons, per the Journal report.

Persons: Biden, —, Sergei Shoigu, HIMARS, Ben Wallace, Lockheed Martin, Putin, Volodymyr Zelensky, Joe Biden, Brendan Smialowski, ATACMS, Abrams, James Risch, General Kyrylo Budanov Organizations: Kyiv, Washington DC, Service, Wall Street Journal, Army Tactical Missile, Russian, The Telegraph, British Storm Shadow, US High Mobility Artillery, Lockheed, White, Getty, Politico, US, Pentagon, Foreign Affairs, Reuters, Military Intelligence Locations: Ukraine, Crimea, Kherson, Kerch, Russia, Washington , DC, Washington

☆ Argentina economic activity slumps 4.2% in April as drought hit farming
▼ + stars: | 2023-06-30 | by ( Hernan Nessi | ) www.reuters.com time to read: +1 min

3 for corn and an important wheat supplier, but the most recent harvest was pummeled by one of the country's worst droughts in history. Government data showed that agriculture and fishing had the worst results for the month, with the former the main driver of the overall activity decline. The 'EMAE' activity index is a useful early indicator of likely economic growth. "These two sectors contributed four percentage points to the year-on-year drop in the EMAE," INDEC said. Argentina is battling inflation of over 100% and a weak peso currency, with around four-in-10 people living in poverty.

Persons: INDEC, Hernan Nessi, Carolina Pulice, Aida Pelaez, Fernandez Organizations: International Monetary Fund, Reuters, Thomson Locations: BUENOS AIRES, Argentina

☆ UK says the Storm Shadow missiles it gave Ukraine have been wreaking havoc on Russian targets and are accurate 'almost without fault'
▼ + stars: | 2023-06-27 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +4 min

The air-launched Storm Shadow missile is being used to great effect in Ukraine, the UK said. UK defence minister Ben Wallace said in a statement to the House of Commons that "the Storm Shadow missile has had a significant impact on the battlefield." The Storm Shadow's impact on the Russian army in Ukraine has been primarily around its logistics, and command and control, Wallace said. The UK announced in May that it would send an undisclosed number of Storm Shadow missiles to Ukraine. A hole in the Chonhar bridge that connects Russian-held Kherson to Crimea, which Russia says was caused by a Storm Shadow missile strike.

Persons: Ben Wallace, —, MBDA, Wallace, HIMARS, Ukraine's, Sergei Shoigu, Vladimir Saldo Organizations: Shadow, Service, of, Storm, MBDA Systems, US, Wall Street Journal, Reuters, Russian, Telegraph, Storm Shadow Locations: Ukraine, Russia, Kherson, Crimea, Russian, United States, Britain

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