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☆ Despite shakeup at the Fed, a rate hike in September is likely
▼ + stars: | 2023-07-17 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Fed Chair Powell has said the Fed still has more work to do, and he himself hasn’t ruled out back-to-back rate hikes. But he also suggested that the Fed prefers to get rate hikes over with as soon as possible. The Fed is overwhelmingly expected to raise its key federal funds rate later this month after it paused in June after 10 straight rate hikes. If core inflation continues to moderate only slightly, Fed officials might just want to get the second rate hike over with. The FOMC next meets on July 25-26, with an announcement on rate hikes due at 2 p.m.

Persons: Louis, James Bullard, Adriana Kugler, Powell, hasn’t, Christopher Waller, ” Waller, ”, weren’t, Kugler, That’s Organizations: DC CNN, Federal Reserve, Fed, Louis Fed, Market Committee, “, New York University Locations: Washington, April’s

☆ James Bullard, president of St. Louis Fed, to step down
▼ + stars: | 2023-07-13 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +2 min

New York CNN —St. Louis Federal Reserve President James Bullard announced Thursday he is stepping down from his position in mid-August. “It has been both a privilege and an honor to be part of the St. Louis Fed for the last 33 years, including serving as its president for the last 15 years,” Bullard said in a statement released Thursday afternoon. With the exception of the president of New York Fed, four regional bank presidents from the remaining 11 branches serve one-year terms on the Federal Open Market Committee on a rotating basis. Kathleen O’Neill Paese, the St. Louis Fed’s first vice president and chief operating officer, was confirmed Thursday by the bank’s board and assumed Bullard’s duties “immediately” in the interim, according to the statement. The St. Louis Fed said it is hiring “a national executive search firm” to help identify Bullard’s permanent successor.

Persons: James Bullard, Louis Fed, ” Bullard, Bullard, Purdue University’s Mitchell E, Daniels, Jr, Jerome Powell, won’t, Kathleen O’Neill Paese, Louis Fed’s, “, Bullard’s Organizations: New, New York CNN, Louis Federal Reserve, Purdue, School of Business, Fed, New York Fed, Federal, Seven, Governor Locations: New York, St

☆ Key US inflation gauge cooled last month to the lowest level in nearly three years
▼ + stars: | 2023-07-13 | by ( Alicia Wallace | ) edition.cnn.com time to read: +4 min

The PPI index, a key inflation gauge that tracks the average change in prices that businesses pay to suppliers, has cooled significantly since peaking at 11.2% in June 2022 and has now declined for 12 consecutive months. Annual producer price inflation is at its lowest level since August 2020, BLS data shows. “It’s definitely a good month for inflation,” Pelle told CNN. Starting in March 2022, the central bank rolled out 10 consecutive interest rate hikes to tame inflation, finally hitting pause last month. Doves tend to favor looser monetary policy and issues like low unemployment over low inflation, while hawks favor robust rate hikes and keeping inflation low above all else.

Persons: Price, Watchara, —, Alex Pelle, It’s, ” Pelle, “, That’s, Pelle, ” Organizations: Minneapolis CNN —, Bureau of Labor Statistics, La, MediaNews, The Press, Enterprise, Getty, BLS, PPI, Mizuho Securities, CNN, ”, CPI, Federal Reserve Locations: Minneapolis, La Reina, San Bernardino , California

☆ Larry Summers warns US deficits have never looked as ominous as they do now and are on a 'completely unsustainable path'
▼ + stars: | 2023-07-12 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Former Treasury Secretary Larry Summers said US deficits are on an unsustainable trajectory. Deficits are stoking inflation and forcing the Fed to raise rates more than it would otherwise, he told the Atlantic. "I don't think there's ever been a moment when the trajectory looks nearly as ominous as it does now." During the Great Financial Crisis, he was among the top voices in the Obama administration to support federal deficit spending to jump start the economy and avoid long-term stagnation. For Summers, there's no reason the government should continue to run massive deficits, noting that the economy is growing at a healthy pace.

Persons: Larry Summers, Summers, Obama, Trump, there's Organizations: Fed, Service, Republican, Social Security, Medicare, Federal Reserve Locations: Wall, Silicon

"There's no real consensus at the moment about the increase in interest rates among economic actors," Jeremie Delecourt, chief operating officer at French private equity fund Ardian, told Reuters. In the euro zone, the peak is near after a combined 4 percentage points rise in the past year, ECB policymaker and French central bank governor Francois Villeroy de Galhau said on a panel at the conference. But he also said that rates would be left high for as long as necessary to ensure that inflation is headed back to the European Central Bank's 2% target by 2025. The ECB raised interest rates to their highest level in 22 years last month and promised another hike this month, with possibly another in September. "I see quite a bit of optimism in the short term, but I see a lot of downside risks if there is a policy mistake, especially from the central banks," she added.

Persons: Jeremie Delecourt, Francois Villeroy de Galhau, Jean, Louis Girodolle, Lazard, Mario Draghi's, Somersan Coqui, Daniel Barneix, Barneix, Veronika Grimm, Leigh Thomas, Alexander Smith Organizations: Reuters, ECB policymaker, Central, ECB, Atlantic, Allianz Trade, Thomson Locations: PROVENCE, France, United States, Europe, Aix, Provence

☆ The chip wars are heating up. This Chinese stock rose 30% in five days
▼ + stars: | 2023-07-09 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

China is starting to show what sway it has in the semiconductor supply chain, and stocks are only starting to react. About a week ago on July 3 , China's Commerce Ministry announced export restrictions on germanium and gallium would take effect on Aug. 1. WestSummit claims about 20 billion yuan ($2.77 billion) in assets under management. China's latest export curbs follow sweeping U.S. export restrictions in October to limit Chinese businesses' access to advanced semiconductor technology. One of Delta's investments, Shanghai New Vision Microelectronics, raised just over 1 billion yuan in an initial public offering on Shanghai's Star board on June 1.

Persons: Bo Du, Du, WestSummit, Greg Ye, Ye, Wei Jianguo, Wei didn't, Brian Tycangco, Tycangco Organizations: China's Commerce Ministry, . Geological Survey, WestSummit Capital Management, CNBC, Delta Capital, Shanghai New Vision Microelectronics, Shanghai's Star, Stansberry Research, Materials, Earth Holdings Locations: China, Yunnan, U.S, Shenzhen, Shanghai, Washington, Beijing

☆ World War III Will Be Fought With Viruses
▼ + stars: | 2023-07-07 | by ( Richard A. Muller | ) www.wsj.com time to read: 1 min

Review and Outlook: Beijing’s war hawks are making it harder to improve relations with the U.S. But World War III may not be what you expect. The current paradigm of escalating nuclear conflict was articulated 60 years ago by physicist Herman Kahn , founder of the Hudson institute, but other technologies have come a long way since then. Conventional guns, bombs, missiles or troops may not figure in World War III at all. Biological and computer viruses are likely to be the weapon of choice.

Persons: Mark Kelly Vladimir Putin’s, Herman Kahn Organizations: Getty, Wagner Group, Hudson Locations: Ukraine, Russian

☆ Cluster munitions: US to send munitions banned by over 100 nations to Ukraine after months of debate
▼ + stars: | 2023-07-07 | by ( Natasha Bertrand | ) edition.cnn.com time to read: +6 min

Over 100 countries, including the UK, France, and Germany, have outlawed the munitions under the Convention on Cluster Munitions, but the US and Ukraine are not signatories to the ban. Ryder said the Russians have been using cluster munitions with a dud rate of as high as 40%. Biden reluctant at firstBiden was reluctant at first, officials told CNN, given how many countries worldwide have banned the munitions. It is not clear whether the heavy amount of artillery ammunition the Ukrainians have been expending day-to-day would be sustainable without the cluster munitions if the counteroffensive drags on, officials and military analysts said. Russia’s Ambassador to Belarus Boris Gryzlov said the US decision was “a move of desperation.”“As part of the continued assistance to the Kiev regime, Washington is considering the possibility of sending cluster munitions to Ukraine.

Persons: Jake Sullivan, Biden, “ I’m, ” Sullivan, “, It’s, Joe Biden, Colin Kahl, Boris Pistorias, ” Biden, Patrick Ryder, Kahl, Ryder, Belarus Boris Gryzlov, ”, ” Gryzlov Organizations: CNN, National, Patriot Missile, Pentagon, Defense Department, Munitions, Ukraine, Cluster Munitions, Rights Watch, Foreign, Department of Defense Locations: Ukraine, Russia, France, Germany, Berlin, China, U.S, United States, Belarus, Kiev, Washington, Russian, Ukrainian

☆ Reaction: June US jobs growth cools, but wages won't comfort Fed
▼ + stars: | 2023-07-07 | by ( ) www.reuters.com time to read: +6 min

Nonfarm payrolls increased by 209,000 jobs last month, the Labor Department said on Friday. "Today's numbers confirm the job market is still strong... and this report gives the green light to the Fed to raise rates. "If anything, it probably confirms this idea that the Fed has had that they are making progress in the right direction." "It's not like this is a sudden vast improvement in the labor market." The hours worked numbers are rising slower than the payrolls numbers.

Persons: Nonfarm, payrolls, CANDICE, GOLDMAN, BEN JEFFERY, “, PETER CARDILLO, we're, STUART COLE, JASON PRIDE, MICHAEL BROWN, ”, ” BRIAN JACOBSEN, MENOMONEE Organizations: YORK, Labor Department, Reuters, Treasury, BMO, NFP, Fed, Global Finance, Markets, Thomson Locations: GOLDMAN SACHS, PHILADELPHIA, WISCONSIN

☆ 4 things making it harder for Janet Yellen to repair the US-China relationship
▼ + stars: | 2023-07-06 | by ( Laura He | ) edition.cnn.com time to read: +9 min

The global economy stands to gain if Washington and Beijing can mend fences, but analysts say this appears unlikely. Here are four things likely to make it harder for Yellen to repair US-China ties, and one thing keeping the relationship going. Sequoia’s executives said in a statement that it has become “increasingly complex” to run a decentralized global investment business. On Wednesday, US pharmaceutical firm Moderna (MRNA)signed a deal to make its first major investment in China. “Both sides are ramping up commercial restrictions in the name of national security and national interests,” she said.

Persons: Janet Yellen, China, ” Wei Jianguo, ”, Anna Ashton, Biden, Beijing’s, Wei, Capvision, Xi Jinping’s, “, Li Qiang, Xi, Alex Capri, ” Ashton, —, Jennifer Hansler, Wayne Chang, Bryan Mena Organizations: Hong Kong CNN, Eurasia Group, Micron Technology, China Daily, Analysts, China, Capvision, Bain & Company, Group, Forrester Research, Ontario, Republicans, Hawks, Shanghai Cooperation Organization, Xinhua, US Commerce Department, “, National University of Singapore Business School, Moderna Locations: Hong Kong, Beijing, United States, China, Chinese, Washington, Japan, Europe, Shanghai, New York, decouple, Moscow, Ukraine, Russia, Taiwan, Tianjin

☆ Premarket stocks: Does the Fed have the labor market all wrong?
▼ + stars: | 2023-07-06 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

New York CNN —The labor market just won’t quit, but this could be another case of “good news is bad news” for the Federal Reserve. But while job growth is a sign of a healthy economy, Fed Chair Jerome Powell has said that he wants to see more slack in the labor market in order to bring inflation down. But in April, the unemployment rate reached 3.4%, with the 12-month average of unemployment reaching a record low of 3.6%. Plus, the mass retirement of baby boomers, slowing of immigration rates and long-term health impacts of Covid have also permanently altered the labor market. Why it matters: These changes have led many economists to say that the labor market doesn’t matter anymore, said Kathryn Rooney Vera, chief market strategist at StoneX.

Persons: won’t, Jerome Powell, ”, Joe Brusuelas, Kathryn Rooney Vera, boomer, we’ve, “, Vera, Sam Stovall, Bryan Mena, Stovall, Jordan Valinsky Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Gross, RSM, Labor, Fed Fed, CFRA Research, Federal, CNN, Handil Holdings Locations: New York, “

☆ Morning Bid: Fed hawks, China tensions keep markets under pressure
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +2 min

A look at the day ahead in European and global markets from Kevin BucklandU.S. policymakers are stealing the spotlight in the markets today, after the Fed cemented its hawkish credentials overnight and Janet Yellen started a trip to China just as Beijing restricts chip-making metal exports. APAC investors clearly took notice, sending stocks sliding and bond yields higher in a signal that Europe should brace for the same. The key takeaway from minutes of the Fed's June meeting overnight is that the unanimous decision to hold wasn't so unanimous after all, with the hawks just biding their time. Traders see a July hike as pretty much assured, but it's still a coin toss whether there will be another after that. Britain will report construction PMIs for June later in the day, as will Germany, which also has factory order figures for May on the release schedule.

Persons: Kevin Buckland, Janet Yellen, wasn't, it's, It's, Mark Zuckerberg, Elon Musk, Zuckerberg, Yellen, Edmund Klamann Organizations: Fed, Traders, Friday's U.S, U.S, Treasury, Reuters Graphics, Thomson Locations: China, Beijing, Europe, United States, Japan, Netherlands, Britain, Germany, UK, PMIs

☆ Morning Bid: Minutes meted, China crunch
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +4 min

A look at the day ahead in U.S. and global markets from Mike DolanAs U.S. markets return from Independence Day, the Federal Reserve's slightly awkward deliberations are laid bare again just as China's markets shrink from more unnerving economic signs. The Fed minutes out later will sketch out how close that is to the thinking in Washington. Going into the release, futures markets are 80% priced for another quarter-point policy rate rise to 5.5-5.75% this month and have 33 basis points of hikes pencilled in by November. The dollar (.DXY) was steady to firmer, with China's offshore yuan reversing all of Tuesday's gains. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Mike Dolan, Janet Yellen, HSI, Goldman Sachs, John Williams, Christina Fincher Organizations: Independence, U.S, Treasury, Bank, Reserve Bank of Australia, Federal, New York Fed, Reuters Graphics Reuters, Reuters, Thomson Locations: U.S, China, Shanghai, Hong Kong, Beijing, Washington, Monday's, Saudi Arabia, Russia

☆ Russia's Medvedev says standoff with West to last decades, Ukraine conflict 'permanent'
▼ + stars: | 2023-07-03 | by ( Andrew Osborn | ) www.reuters.com time to read: +3 min

Medvedev, once seen in the West as a liberal moderniser, has emerged as one of Russia's most outspoken hawks since Moscow launched what it called a "special military operation" in Ukraine last year. A nuclear war was "quite probable" but was unlikely to have any winners, said Medvedev, who has repeatedly said Western support for Ukraine increases the chances of nuclear conflict. Medvedev said Moscow was still committed to stopping Ukraine join NATO. Given NATO's rule about not admitting countries entangled in territorial conflicts, he said the conflict with Ukraine could become "permanent" given its existential nature for Moscow. The only way to de-escalate tensions between Russia and the West was to enter into tough negotiations, he said.

Persons: Dmitry Medvedev, Russia's, Medvedev, Andrew Osborn, Guy Faulconbridge, Frank Jack Daniel Our Organizations: NATO, LONDON, West, Security Council, Gazeta, Thomson Locations: Russia, Cuban, Moscow, Ukraine, Kyiv, United States

☆ Americans are growing optimistic about inflation
▼ + stars: | 2023-06-30 | by ( Bryan Mena | ) edition.cnn.com time to read: +3 min

Washington, DC CNN —With inflation continuing to slow, US consumers are taking notice — and they’re feeling more optimistic. That was due to inflation’s steady retreat in recent months and consumers feeling more cheery about the economy’s future. Consumers’ economic outlook for the year ahead jumped 28% over last month. More action from the Fed is centered on core inflation remaining stubbornly high and not decelerating as fast as the headline number. The optimism reflected in the survey means US consumers have faith that inflation will eventually slow to a sustainable level, which the Fed defines as 2% inflation.

Persons: ”, Joanne Hsu, Brian Moynihan, Joe Biden’s, Jerome Powell, Powell Organizations: DC CNN, University of Michigan, Consumers, Commerce Department, Federal, Bank of America, CNN, European Central Bank, Market Committee, Fed Locations: Washington, April’s, ”

☆ There's blood in the water after Prigozhin's revolt shattered the façade of Putin's invincibility
▼ + stars: | 2023-06-29 | by ( Jason Corcoran | ) www.businessinsider.com time to read: +13 min

It represented the most significant affront to President Vladimir Putin's 23-year reign. It has also fed paranoia and put a spotlight on Aleksey Dyumin, Putin's ex-bodyguard turned governor. A brief and ultimately aborted attempt at a coup d'état by Russian mercenary chief Yevgeny Prigozhin represented the most significant affront to President Vladimir Putin's 23-year reign. President Vladimir Putin (L) and Aleksey Dyumin, the governor of Tula and Putin's former personal bodyguard, in Moscow in 2016. Russian President Vladimir Putin (R) and Tula Governor Aleksey Dyumin visit Russian writer Lev Tolstoy's former home in 2016.

Persons: Yevgeny Prigozhin, Vladimir Putin's, Aleksey Dyumin, Putin's, —, Vladimir Putin —, Prigozhin, Vladimir Fesenko, trundling, Sergey Shoigu, Valery Gerasimov, There's Prigozhin, Wagner, Putin, Belarus —, defenestration, Dyumin, Shoigu, Vladimir Putin, Mikhail Svetlov, Igor Girkin, Alexander Lukashenko —, Dyumin's, Dmitry Peskov, Boris Yeltsin, Viktor Yanukoyvch, Girkin, Andrei Gurulyov, Russia's, Lev Tolstoy's, Tatiana Stanovaya, Alexandra Prokopenko, Prokopenko, Sergei Surovikin, Surovikin, Viktor Zolotov, Zolotov, Alexander Lukashenko, Chris Weafer Organizations: Service, Kremlin, Kommersant, Angry Patriots, Russia's First Channel, Prigozhin, Carnegie Russia Eurasia Center, Central Bank, Washington Post, New York Times, Defense Ministry, Moscow Times, National Guard, Ministry, Macro Locations: Russian, Russia, Rostov, Ukraine, Moscow, Voronezh, Lipetsk, St, Petersburg, Minsk, Belarus, Russia's Tula, Kremlin, Tula, Dyumin's Tula, St Petersburg, Prigozhin, Crimea, Berlin, Novosibirsk, Osipovichi, Africa, Syria

☆ Mike Pence meets with Volodymyr Zelenskyy in surprise trip to Ukraine
▼ + stars: | 2023-06-29 | by ( Dasha Burns | Abigail Brooks | ) www.cnbc.com time to read: +5 min

Pence has been outspoken about his support for Ukraine, and the move sends a resounding message that he believes the U.S. should play a leading role in the country's fight against Russia. Former Vice President Mike Pence made a surprise visit to Ukraine on Thursday, becoming the first Republican presidential candidate to meet with Ukrainian President Volodymyr Zelenskyy during the campaign. One of Zelenskyy's top advisers, Mykhailo Podolyak, said Pence "understands absolutely clearly what Russia is." The future of U.S. support for the Ukrainian war effort is in question, and the voters Pence is trying to woo in the Republican primary aren't eager to aid the country. And the GOP front-runner in the polls, former President Donald Trump, initially praised Putin when he invaded Ukraine, saying he was "very savvy."

Persons: Pence, Moshchun, Irpin, —, Vladimir Putin, Wagner, group's, Mike Pence, Volodymyr Zelenskyy, Mykhailo Podolyak, Podolyak, we've, they've, it's, Ronald Reagan, Reagan, Ron DeSantis, Putin, Donald Trump, Trump Organizations: NBC, Ukraine, Russia, GOP, Republican, NBC News, Republicans Locations: —, Irpin, U.S, Ukraine, Kramatorsk, Russia, United States, Russian, Soviet Union, Florida

☆ Nvidia's chips fuel A.I. — here's why the U.S. worries about China's access
▼ + stars: | 2023-06-28 | by ( Lauren Feiner | ) www.cnbc.com time to read: +1 min

Jensen Huang, president and CEO of Nvidia, speaks during the Computex Show in Taipei on May 30, 2017. Nvidia's powerful semiconductors have taken on particular importance as their capacity to fuel artificial intelligence has become increasingly sought after. That's why the Commerce Department is reportedly considering new limits on the export of such chips to China, The Wall Street Journal reported Tuesday. Nvidia had already created a version of the A100, its popular AI chip, that it could sell to the Chinese market. But the new limits reportedly being considered by the Biden administration would restrict even those sales without a license.

Persons: Jensen Huang, what's, authoritarians, Eileen Donahoe, Biden Organizations: Nvidia, Human Rights Council, Stanford, Global, NBC, U.S, Commerce Department, Street Locations: Taipei, China, U.S

☆ Opinion: DeSantis is trying to climb the Trump wall
▼ + stars: | 2023-06-28 | by ( Opinion Patrick T. Brown | ) edition.cnn.com time to read: +7 min

The DeSantis plan, rolled out at a press conference at the Texas border Monday, lays out steps that should satisfy most Republican border hawks. His immigration plan showcases a candidate interested in effective policymaking beyond pure sloganeering, even if some major questions surround a few key details. The former President noted the similarities — “His plan is my plan,” Trump told Semafor and ABC News on Tuesday. Then, there are the ideas in DeSantis’ plan that have a harder time standing up to scrutiny. Similarly, cutting federal funding to non-governmental organizations that provide aid to those who cross the southern border would be less effective than it sounds.

Persons: Patrick T, Brown, Ron DeSantis, Donald Trump, DeSantis, ” Trump, Semafor, “, ”, —, Trump, parry, isn’t, doesn’t Organizations: Public Policy Center, Economic, Twitter, CNN, Florida Gov, Trump, Republican, Sunshine State, ABC, Republicans, PBS, NPR, Marist, Sun, Group, American, Facebook Locations: Washington , DC, Texas, Iowa, South Carolina, Florida, Mexico

☆ ECB's Kazaks sees rate hikes past July even as economy softens
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +3 min

SINTRA, Portugal, June 27 (Reuters) - The European Central Bank will likely keep raising interest rates after its next meeting even as the economy slows because inflation remains too high, ECB policymaker Martins Kazaks said on Tuesday. But Kazaks, the Latvian central bank governor, said he expected the euro zone economy to simply slow or stagnate, rather than contract, and this should not stop the ECB in its fight against high inflation. "I think rates will need to be raised past July but when and by how much will be data dependent." But Kazaks pushed back against market bets on rate cuts by the ECB in the first half of next year. "And not at the end of the forecast period but towards the middle of the forecast period."

Persons: ECB policymaker Martins Kazaks, Kazaks, we’ll, Francesco Canepa, Shri Navaratnam Organizations: European Central Bank, ECB policymaker, ECB, Reuters, Thomson Locations: SINTRA, Portugal, Germany, Latvian, ECB's

☆ The Terror of Threes in the Heavens and on Earth
▼ + stars: | 2023-06-26 | by ( William J. Broad | ) www.nytimes.com time to read: +1 min

But they also cite a number of three-body lessons from nature — starting with Newton’s — that illuminate the issue and suggest possible ways forward. “We have a conceptual problem,” said Ernest J. Moniz, a physicist who as the secretary of energy in the Obama administration oversaw the U.S. nuclear arsenal. “Anything that helps in understanding that is great.”Security-minded hawks want to expand the American arsenal in response to China’s nuclear rise and the threat of Beijing’s closing ranks with Moscow. Jake Sullivan, the national security adviser, argued that the American response should focus less on the quantity of the nation’s nuclear arms than on their quality. To deter attacks successfully, he said in a speech, the American military has no need for arms that “outnumber the combined total of our competitors.”

Persons: Newton’s, Newton, “, ”, Ernest J, Moniz, Obama, “ We’ve, Biden, Jake Sullivan Organizations: U.S, National Science Foundation, ” Locations: ” France, Moscow, Washington

☆ Jim Cramer: Here's my outlook on stocks for the rest of 2023 — and how I'm playing it
▼ + stars: | 2023-06-25 | by ( Jim Cramer | ) www.cnbc.com time to read: +13 min

A 6% solution to no inflation from the stock market. But not enough, again, because of the wave of money that's now flowing through the sand of the economy. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: —, Jensen Huang, Jensen, ChatGPT, Leonardo Da Vinci, Tesla, Elon, let's, Jerome Powell, Powell, Joseph Stalin, dismissively, FANG, That's, Wall, LEN, Salesforces, Cook, Zuckerberg, Huang, Jim Cramer's, Jim Cramer, Jim, Jim Cramer Rob Kim Organizations: Apple, Microsoft, Nvidia, Treasury, Federal Reserve, Tesla, Fed, Boeing, Devices, Adobe, Toll, Royal, Holdings, Musk, Jim Cramer's Charitable, CNBC Locations: Ukraine, Royal Caribbean

☆ California birdwatchers watched a bald eagle adopt a baby hawk — a behavior that's been recorded in the wild only 4 other times
▼ + stars: | 2023-06-24 | by ( Katie Hawkinson | ) www.businessinsider.com time to read: +2 min

A female bald eagle abducted Tuffy, a baby hawk, from his nest and began caring for him as her own. This behavior has only been spotted in the wild four other times, the Los Angeles Times reports. This behavior — strange, according to experts, because eagles prey on hawks — is even more exciting for bird enthusiasts because it has only been seen in the wild four other times, the Los Angeles Times reports. Doug Gillard — former Olympian hammer thrower turned birdwatcher — was the first to spot the strange family in a Bay Area forest, and has nicknamed the baby hawk Tuffy. He now lives with his adoptive parents and their child, whom Gillard nicknamed Lola, according to the Los Angeles Times.

Persons: Tuffy, —, Doug Gillard —, birdwatcher —, Gillard, Lola Organizations: Los Angeles Times, Service, Tuffy Locations: California

☆ 2023 NBA draft: How to watch the next wave of basketball talent find their new teams
▼ + stars: | 2023-06-22 | by ( Ben Morse | ) edition.cnn.com time to read: +7 min

CNN —It marks the dawn of a new generation of basketball talent; the NBA draft is here and its more exciting than ever. How to watchThe 2023 NBA draft takes place on Thursday, June 22 at Barclays Center in Brooklyn, New York, and is scheduled to begin at 8 p.m. To see who is selected by which team, fans can watch the draft on ABC, ESPN or via the NBA league pass. Two-time NBA MVP Jokić is what all general managers are stiving for, a late round pick who blossoms into a superstar player. First round draft orderHere is who will pick where in the first round of the 2023 NBA draft:1.

Persons: Victor Wembanyama, Wembanayama, he’s, “, ”, ” Wembanyama, Wembanyama, Gregg Popovich, Brandon Miller, Scoot Henderson, Henderson, Miller –, Miller, Damian Lillard, Lillard, Thompson, Ausar Thompson, Amen Thompson, Dale Zanine, Cam Whitmore, Jarace Walker, Taylor Hendricks, Nikola Jokić, Jokić Organizations: CNN, NBA, Barclays Center, ABC, ESPN, San Antonio Spurs, Spurs, Morning, of Fame, Charlotte Hornets, Portland Trail Blazers, Miami Heat, AP, City, G League, City Reapers, USA, Sports, Reuters, Villanova, UCF, Denver Nuggets, Houston Rockets, Detroit Pistons, Orlando Magic, . Indiana Pacers, Washington Wizards, Utah Jazz, Dallas Mavericks, Oklahoma City Thunder, Toronto Raptors, New Orleans Pelicans, Atlanta Hawks, Los Angeles Lakers, Golden State Warriors, Brooklyn Nets, Sacramento Kings, Memphis Grizzlies, Indiana Pacers, LA Clippers Locations: Brooklyn , New York, Europe, “ San Antonio, “, Morning America, San Antonio, Alabama, LaMelo, Portland, Houston, Serbian

☆ Dollar dips as Powell testimony disappoints hawks
▼ + stars: | 2023-06-21 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

Powell told lawmakers the fight against inflation still "has a long way to go" and that despite a recent pause in interest rate hikes officials agreed borrowing costs would likely need to move higher. While noting that inflation remains very far from the Fed's target, Powell said it may make sense to still raise rates, at a more moderate pace. The dollar index , which measures the currency against six rivals, fell 0.43% to 102.07 following Powell's testimony to the House Financial Affairs Committee. Investors broadly expect rate hikes to resume at the Fed's July meeting, though financial market indicators reflect doubts that the Fed will deliver more increases beyond that. YEN UNDER PRESSURE, STERLING SEESAWSThe euro was 0.62 % higher against the dollar at $ 1.0985 .

Persons: Jerome Powell's, Powell, Karl Schamotta, Schamotta, Michael Brown, STERLING, Kazuo Ueda, Charles Schwab, Saqib Iqbal Ahmed, Tom Westbrook, Farouq Suleiman, Sam Holmes, Kim Coghill, Sharon Singleton, Alex Richardson, Richard Chang Organizations: YORK, U.S, Fed, House Financial, Committee, Investors, Bank of Japan, Reserve Bank of Australia's, Fidelity, Citadel Securities, Thomson Locations: Beijing

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