Gold rises, oil choppy after Iran attacks Israel
==========

Gold prices rose on Monday as safe haven bids increased after Iran's retaliatory attack on Israel. Iran launched explosive drones and missiles at Israel in retaliation for a suspected Israeli attack on its consulate in Syria on April 1. The threat of open warfare between the two countries and the potential involvement of the United States has left the region on edge. Oil prices were choppy in response to the attack. Gold rose 0.7% to $2,359.92 an ounce, while oil prices were volatile. U.S. stock futures ticked higher after major indexes ended lower on Friday. The dollar held steady, and U.S. Treasury yields edged slightly lower. The market is closely watching for further developments and potential counter-responses from Israel.

#Gold #Oil #Iran #Israel #MiddleEast #Conflict

https://www.investing.com/news/economy/gold-rises-oil-choppy-after-iran-attacks-israel-3377423 

 Despair makes young US men more conservative ahead of US election, poll shows
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A global survey by Glocalities showed a surge in despair and disillusionment with established politics, particularly among young American men. Young US men were the only population group in the US or seven EU member states to have become more conservative since 2014. The study also highlighted a sharp difference between young men and young women, with young women growing more liberal and anti-patriarchal. The report suggested that social media algorithms were magnifying the trend by drawing moderately conservative young men towards more extreme and radical conservative male role models and world views.

#UsElection #Poll #Conservatism #Despair #YoungMen #Glocalities

https://www.investing.com/news/world-news/despair-makes-young-us-men-more-conservative-ahead-of-us-election-poll-shows-3376030 

 Despair makes young US men more conservative ahead of US election, poll shows
==========

A global survey by Glocalities showed a surge in despair and disillusionment with established politics, particularly among young American men. Young US men were the only population group in the US or seven EU member states to have become more conservative since 2014. The study also highlighted a sharp difference between young men and young women, with young women growing more liberal and anti-patriarchal. The report suggested that social media algorithms were magnifying the trend by drawing moderately conservative young men towards more extreme and radical conservative male role models and world views.

#UsElection #Poll #Conservatism #Despair #YoungMen #Glocalities

https://www.investing.com/news/world-news/despair-makes-young-us-men-more-conservative-ahead-of-us-election-poll-shows-3376030 

 Delta rockets retired with launch of US reconnaissance satellite
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The U.S. Space Force and a Boeing-Lockheed joint venture sent a secret reconnaissance payload to orbit on Tuesday atop a Delta IV Heavy rocket, the last flight of a workhorse launch vehicle brand that has logged nearly 400 missions dating back to 1960. The United Launch Alliance-owned rocket, standing roughly 23 stories tall, blasted off from Cape Canaveral Space Force Station in Florida around 1 p.m. EDT (1700 GMT), 12 days after a previous launch attempt was scrubbed at the last minute due to a technical glitch. The flight was intended to deploy a satellite for the National Reconnaissance Office (NRO), a U.S. defense intelligence agency, on a classified mission designated as NROL-70. The Space Force field command confirmed hours later that the launch had successfully delivered the payload to orbit. It marked the 16th and final flight of a Delta IV Heavy and the last of any of the Delta family of rockets, a space launch dynasty that originated from a modified intermediate-range ballistic missile and grew to include about two dozen increasingly powerful variants. Since the Thor-Delta rocket was introduced in 1960 at the dawn of the Space Age, the Delta brand has logged 389 launches, with payloads ranging from the world's first weather and GPS satellites to NASA science missions including eight spacecraft to Mars. The world's first passive communications satellite, Echo 1A, and first active communications satellite, Telstar 1, which enabled transatlantic television transmission, were launched by Thor-Deltas in 1960 and 1962, respectively. Among other space science missions, Delta II rockets launched the twin Mars rovers Spirit and Opportunity in 2003, and a Delta IV sent the Parker Solar Probe to space in 2018. ULA, a partnership of aerospace giants Boeing and Lockheed, is retiring Delta and Atlas rockets in favor of its newly developed Vulcan rocket, which made its inaugural flight in January carrying a privately funded moon lander.

#DeltaIvHeavy #UnitedLaunchAlliance #NationalReconnaissanceOffice #SpaceForce #Nrol70 #VulcanRocket

https://www.investing.com/news/general/delta-rockets-retired-with-launch-of-us-reconnaissance-satellite-3375993 

 US to close 'gun show loophole' and require more background checks
==========

The U.S. Justice Department has finalized a rule requiring gun dealers to obtain federal licenses and conduct background checks regardless of where they sell guns, closing the 'gun show loophole.' The rule will impact an estimated 23,000 individuals engaged in unlicensed gun dealing in the United States and will affect tens of thousands of gun sales per year. The number of children killed by guns in the U.S. hit a high in 2021, and the country has higher rates of gun death than other wealthy nations. The rule does not constitute a universal background check and certain firearms transfers among family members will still be allowed without a background check. Gun rights groups are likely to challenge the rule in court.

#GunControl #BackgroundChecks #GunShowLoophole #UsJusticeDepartment

https://www.investing.com/news/world-news/us-to-close-gun-show-loophole-and-require-more-background-checks-3374331 

 More produce, less dairy for low-income families under US nutrition program changes
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Nearly 7 million low-income women and children will be able to purchase more fruits and vegetables but less dairy after the U.S. Department of Agriculture finalized changes to the Special Supplemental Nutrition Program for Women, Infants and Children (WIC). The updates align the program's food packages with the latest nutrition science, increasing allowances for fruits, vegetables, and seafood, and decreasing the amounts of juice, dairy, and cheese. Non-dairy options like plant-based and lactose-free milk will also be added. The changes were criticized by dairy promotion groups, but the USDA expects dairy purchases through WIC to rise by as much as $400 million by 2025 due to increased participation.

#NutritionProgram #LowincomeFamilies #UsDepartmentOfAgriculture #Wic #Fruits #Vegetables #Dairy #Seafood #PlantbasedMilk #LactosefreeMilk

https://www.investing.com/news/economy/more-produce-less-dairy-for-lowincome-families-under-us-nutrition-program-changes-3374183 

 Analysis-Unraveling US rate cut bets spur investor portfolio shifts
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Investors are adjusting their portfolios as expectations for US interest rate cuts diminish. Strong economic reports and fears of rebounding inflation have led investors to believe that the Federal Reserve may lower borrowing costs prematurely. Futures markets now show that investors expect rates to fall by just 40 basis points this year, compared to the 150 basis points priced in at the start of 2024. This fading prospect of rate cuts has caused some investors to readjust their portfolios, with equity investors seeking insurance in the options market or investing in inflation hedges such as energy stocks. Bond investors are also repositioning their portfolios amidst a selloff that has hammered Treasury prices. The fading prospect of rate cuts presents a dilemma for market participants who had previously bet on policy easing.

#UsInterestRates #Inflation #FederalReserve #Investors #PortfolioShifts

https://www.investing.com/news/economy/analysisunraveling-us-rate-cut-bets-spur-investor-portfolio-shifts-3374171 

 Analysis-Funds selling options help temper US stock swings
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Assets under derivative income ETFs have grown to about $71 billion from $33 billion at the end of 2022. Some options-selling strategies have tempered stock gyrations and contributed to a long period of market calm. Options-selling ETFs generate income by selling out-of-the-money call options against their stock holdings. Market makers often hedge their exposure to these contracts by selling stock index futures. When markets grind higher, the ETFs buy back the call options they sold, prompting market makers to close their own hedges by buying index futures, thereby supporting stocks. While these strategies moderate market moves, they alone would probably not prevent a selloff if the outlook for stocks radically changes. The presence of volatility-selling funds has been one moderating force in keeping volatility low over the last few years. However, if these strategies were to be hastily unwound, it could lead to increased volatility and uncertainty in the market.

#UsStockMarket #OptionssellingStrategies #Volatility #Etfs #MarketMakers

https://www.investing.com/news/economy/analysisfunds-selling-options-help-temper-us-stock-swings-3372419 

 Deutsche Telekom AG sells $91.66 million of T-Mobile US stock
==========

Deutsche Telekom AG, a major shareholder and director of T-Mobile US, Inc., has sold approximately $91.66 million worth of T-Mobile US stock. The sales were conducted over several days, with prices ranging from $160.1248 to $161.7908 per share. The transactions were carried out under a pre-arranged 10b5-1 trading plan. Deutsche Telekom AG's ownership of T-Mobile US stock has decreased as a result of these sales, but it still retains a significant number of shares. Investors monitor insider transactions like these for insights into the company's financial health and future performance.



https://www.investing.com/news/company-news/deutsche-telekom-ag-sells-9166-million-of-tmobile-us-stock-93CH-3372286 

 Biden says he is examining power to shut US border on his own
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President Joe Biden is considering whether he has the authority to shut down the US-Mexico border on his own, as bipartisan legislation on the matter has been stalled by Republicans in Congress. Biden stated that he is examining whether he has the power to do so without legislation, but there is no guarantee. Migration is a central issue in the upcoming presidential campaign, with former President Donald Trump accusing Biden of mishandling border issues.



https://www.investing.com/news/world-news/biden-says-he-is-examining-power-to-shut-us-border-on-his-own-3372253 

 Biden holds 4 point lead over Trump, Reuters/Ipsos poll shows
==========

U.S. President Joe Biden has marginally widened his lead over Donald Trump ahead of the November presidential election as the Republican candidate prepares for the start of the first of four upcoming criminal trials, a new Reuters/Ipsos poll found. Some 41% of registered voters in the five-day poll, which closed on Monday, said they would vote for Biden, a Democrat, if the election were held today, compared with 37% who picked former President Trump. The survey has a 4 percentage point margin of error for registered voters and many voters remain on the fence seven months before the Nov. 5 election.



https://www.investing.com/news/world-news/biden-holds-4-point-lead-over-trump-reutersipsos-poll-shows-3371873 

 Fedspeak, TSM's new high, HSBC disposal - what's moving markets
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Federal Reserve speakers continue to voice their opinions over potential interest rate cuts ahead of the release of key inflation data. Taiwan Semiconductor Manufacturing has hit a new high, while HSBC is set to suffer a big pretax loss as it sells its Argentina unit. Fed funds futures contracts for December reflect expectations of around 60 basis points in rate cuts this year. TSMC shares surged to a record high after receiving a $6.6 billion subsidy for an advanced semiconductor plant. HSBC is selling its Argentina business for $550 million, resulting in a $1 billion pretax loss. Oil prices edged higher on raised uncertainty over a possible ceasefire in the Israel-Hamas conflict.



https://www.investing.com/news/economy/fedspeak-tsms-new-high-hsbc-disposal--whats-moving-markets-3370653 

 Special counsel urges US Supreme Court to reject Trump immunity bid
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The special counsel pursuing federal criminal charges against Donald Trump for his efforts to overturn his 2020 election loss filed a U.S. Supreme Court brief on Monday urging the justices to reject the former president's bid for immunity from prosecution on the principle that 'no person is above the law.' The case is due to be argued before the justices on April 25. Trump has appealed a lower court's rejection of his request to be shielded from the criminal case brought by Special Counsel Jack Smith because he was serving as president when he took the actions at the center of the case. In his last filing before the arguments, Smith told the justices that Trump's actions that led to the charges, if he is convicted, would represent 'an unprecedented assault on the structure of our government.' Trump, the first former president to be criminally prosecuted, is the Republican candidate challenging Democratic President Joe Biden in the Nov. 5 U.S. election. Biden defeated Trump in 2020. Trump has pleaded not guilty in this case and the three other criminal cases he faces, seeking to paint them as politically motivated.

#DonaldTrump #UsSupremeCourt #ImmunityBid #SpecialCounselJackSmith #CriminalCharges #2020Election #NoPersonIsAboveTheLaw

https://www.investing.com/news/world-news/special-counsel-urges-us-supreme-court-to-reject-trump-immunity-bid-3370394 

 Pelosi joins call for Biden to stop transfer of US weapons to Israel
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Representative Nancy Pelosi, a key ally of Joe Biden, has signed a letter along with dozens of congressional Democrats urging a halt to weapons transfers to Israel. The letter called on the Biden administration to conduct its own probe into an Israeli airstrike that killed seven staff of the aid group World Central Kitchen. Pelosi's spokesperson clarified that she was sympathetic to the thoughts in the letter and wanted an independent investigation into the killing. The Israeli military has dismissed two officers and reprimanded senior commanders after an inquiry into the aid workers' deaths found serious errors and breaches of procedure. The United Nations has warned of looming famine in Gaza.

#NancyPelosi #JoeBiden #AntonyBlinken #Israel #WeaponsTransfers #Gaza #WorldCentralKitchen #Hamas #UnitedNations

https://www.investing.com/news/world-news/pelosi-joins-call-for-biden-to-stop-transfer-of-us-weapons-to-israel-3370331 

 US Republicans urge Ukraine aid vote, after 'Russian propaganda' warnings
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Former U.S. President Donald Trump's secretary of state, Mike Pompeo, has joined other prominent Republicans in calling for the passage of billions of dollars in aid for Ukraine. The aid request, which includes $95 billion for Ukraine, Israel, and other allies, has already passed the U.S. Senate with 70% support but has been stalled in the House of Representatives. Republican House Speaker Mike Johnson has refused to allow a vote on the aid package. Pompeo issued a public letter urging Johnson to bring up the bill for a vote. Some Republican lawmakers have accused aid opponents of succumbing to Russian propaganda, with Representative Michael McCaul stating that Russian propaganda has infected a good chunk of his party's base. Representative Mike Turner also confirmed that Russian propaganda is influencing party members and making it more difficult to see the conflict between Russia and Ukraine as an authoritarian versus democracy battle.

#Ukraine #Republicans #RussianPropaganda #MikePompeo #MikeJohnson #JoeBiden

https://www.investing.com/news/economy/us-republicans-urge-ukraine-aid-vote-after-russian-propaganda-warnings-3370306 

 Consumer inflation in the U.S. in focus amid uncertainty over interest rates
==========

This week, all eyes are on consumer inflation data in the United States, following a surprisingly strong payroll employment report that indicated a hot labor market. Consensus forecasts predict a monthly increase of 0.3% in March for both the headline CPI and the core CPI. ING aligns with the consensus but cautions that the data is still around double the rate that would bring the YoY rate down to the 2% target. Bank of America expects energy prices to rise slightly faster than seasonal trends. Economists worldwide are eagerly awaiting US inflation data for further clues about the future direction of American monetary policy. Thomas Monteiro, chief strategist at Investing.com, suggests that the recent surge in several commodities makes the data release even more critical for the market. Andrea Damico, chief economist at Armor Capital, highlights that services experienced a rebound in January, followed by a deceleration in February. The situation for goods is different and somewhat troubling, according to Damico. She predicts renewed pressure on the goods side in the March data.

#ConsumerInflation #InterestRates #UsEconomy

https://www.investing.com/news/economic-indicators/consumer-inflation-in-the-us-in-focus-amid-uncertainty-over-interest-rates-3370055 

 Consumer inflation in the U.S. in focus amid uncertainty over interest rates
==========

This week, all eyes are on consumer inflation data in the United States, following a surprisingly strong payroll employment report that indicated a hot labor market. Consensus forecasts predict a monthly increase of 0.3% in March for both the headline CPI and the core CPI. ING aligns with the consensus but cautions that the data is still around double the rate that would bring the YoY rate down to the 2% target. Bank of America expects energy prices to rise slightly faster than seasonal trends. Economists worldwide are eagerly awaiting US inflation data for further clues about the future direction of American monetary policy. Thomas Monteiro, chief strategist at Investing.com, suggests that the recent surge in several commodities makes the data release even more critical for the market. Andrea Damico, chief economist at Armor Capital, highlights that services experienced a rebound in January, followed by a deceleration in February. The situation for goods is different and somewhat troubling, according to Damico. She predicts renewed pressure on the goods side in the March data.

#ConsumerInflation #InterestRates #UsEconomy

https://www.investing.com/news/economic-indicators/consumer-inflation-in-the-us-in-focus-amid-uncertainty-over-interest-rates-3370055 

 Stocks climb after sizzling US jobs report
==========

The US labor market continues to perform well, with nonfarm payrolls rising by 303k in March, surpassing forecasts. The unemployment rate fell even as labor force participation rose, suggesting that new workers entering the labor market were easily absorbed. The increase in labor supply diminishes the risk of wage-fueled inflation and could help shield economic growth. Investors scaled back their bets on the timing and depth of Fed rate cuts following the employment report. The dollar initially jumped but erased gains as stock markets soared, driven by optimism that a booming labor market could lead to stronger corporate earnings. Oil prices retreated while gold reached a new record high. Looking ahead, a crucial US inflation report and three central bank meetings are expected to fuel volatility in most assets.

#UsJobsReport #LaborMarket #NonfarmPayrolls #UnemploymentRate #WageGrowth #FedRateCuts #Dollar #StockMarkets #CorporateEarnings #OilPrices #GoldPrices #InflationReport #CentralBankMeetings

https://www.investing.com/analysis/stocks-climb-after-sizzling-us-jobs-report-200647450 

 US stock futures creep higher with inflation, earnings on tap
==========

US stock index futures rose after Wall Street bounced past hotter-than-expected payrolls data. Traders scaled back expectations that the Federal Reserve will cut interest rates by as soon as June. S&P 500 Futures rose 0.1% to 5,258.0 points, while Nasdaq 100 Futures rose 0.1% to 18,318.50 points. Dow Jones Futures rose 0.16% to 39,286.0 points. Wall Street indexes ended higher on Friday despite the stronger-than-expected payrolls data. Focus is now on CPI data for March, due on Wednesday. The reading is expected to show some cooling in inflation but remain well above the Federal Reserve's 2% annual target. Q1 earnings season begins this week, with major U.S. lenders and asset managers reporting. Inflation is expected to rise for a third time since December. Weekly charts point to a recession/black swan event. Institutions have been selling into the rally harder than in the past 3 years. Wednesday's CPI Index estimate is at 312.18, up from 310.33, equating to an annual inflation rate of +7.15%.

#UsStockFutures #Inflation #Earnings #FederalReserve #Cpi #Q1EarningsSeason

https://www.investing.com/news/stock-market-news/us-stock-futures-creep-higher-with-inflation-earnings-on-tap-3368609 

 Morning Bid: Markets eye consolidation, not capitulation
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Asian markets are optimistic after forecast-busting U.S. job growth figures sparked a rise on Wall Street. Japan's Nikkei 225 aims to bounce back from a 2% slide on Friday. Geopolitical tensions continue to push gold to a record high of $2,330 an ounce. U.S. Treasury Secretary Janet Yellen completed a four-day visit to China, discussing economic growth and bilateral relations. The Philippine central bank is expected to keep its key policy rate on hold at 6.50%. Key developments on Monday include the Philippines central bank policy meeting, Japan trade and current account figures, and Malaysia industrial production.

#AsianMarkets #UsJobGrowth #WallStreet #Japan #Nikkei225 #Gold #UsTreasurySecretary #JanetYellen #China #PhilippineCentralBank

https://www.investing.com/news/economy/morning-bid-markets-eye-consolidation-not-capitulation-3368592 

 Man arrested for setting fire to US Sen. Bernie Sanders' office door in Vermont
==========

A man named Shant Soghomonian, 35, was arrested for setting fire to the office door of US Senator Bernie Sanders in Burlington, Vermont. Soghomonian entered the building on Friday and was recorded on security cameras spraying a liquid near the door and setting it alight. Sprinklers went off on multiple floors as he left the building. There were no injuries, but the door and surrounding areas were damaged. Sanders is a long-serving independent senator from Vermont.

#BernieSanders #Arson #Vermont

https://www.investing.com/news/world-news/man-arrested-for-setting-fire-to-us-sen-bernie-sanders-office-door-in-vermont-3368591 

 US Powerball jackpot grows to $1.3 billion ahead of Saturday draw
==========

The US Powerball jackpot has grown to $1.3 billion, making it the eighth largest lottery jackpot in US history. The drawing is set for Saturday night at 11 p.m. EDT. The last Powerball winner hit the jackpot on New Year's Day, and the chances of winning are one in 292.2 million. The prize is the fourth-largest Powerball jackpot and is a little more than half of the largest ever in US lottery jackpot history. Powerball tickets are sold in 45 states, the District of Columbia, the US Virgin Islands, and Puerto Rico.



https://www.investing.com/news/general/us-powerball-jackpot-grows-to-13-billion-ahead-of-saturday-draw-3368471 

 Trump says $50 million raised from biggest fundraiser yet
==========

Former President Donald Trump's campaign raised $50.5 million from a major fundraiser in Florida, his biggest fundraiser yet, as he seeks to replenish his campaign funds for his rematch against Democrat Joe Biden. The event, hosted at billionaire hedge fund manager John Paulson's Palm Beach home, included co-hosts such as hedge-fund investor Robert Mercer, his daughter Rebekah, investor Scott Bessent, and casino mogul Phil Ruffin. The money raised will be allocated to a fundraising group that has spent tens of millions of dollars on Trump's legal fees. Trump's campaign emphasized that the amount raised was double what Biden raised last month in a star-studded fundraiser. The numbers will be confirmed when filings are submitted to the Federal Election Commission. Trump's campaign previously stated that it would be unable to match Biden's fundraising totals this year.

#DonaldTrump #Fundraiser #CampaignFunds #JoeBiden #JohnPaulson #RobertMercer #RebekahMercer #ScottBessent #PhilRuffin

https://www.investing.com/news/economy/trump-eyes-43-million-haul-from-biggest-fundraiser-yet-3368422 

 US, Japan, Australia and Philippines to hold South China Sea exercises
==========

The defense forces of the U.S., Japan, Australia, and the Philippines will conduct maritime cooperative activity on April 7 in the South China Sea. The one-day exercises will involve communication activities and officer of the watch maneuvers in Manila's exclusive economic zone. The participating countries aim to support a free and open Indo-Pacific amid China's growing assertiveness in the waterway. The activity will strengthen the interoperability of the countries' armed forces doctrines, tactics, techniques, and procedures. The four nations have reaffirmed their position that the 2016 South China Sea Arbitral Tribunal Award is final and legally binding. The maritime activity takes place days before a summit between the leaders of Japan, the U.S., and the Philippines, which will include a discussion of recent incidents in the South China Sea.



https://www.investing.com/news/world-news/us-japan-australia-and-philippines-to-hold-south-china-sea-exercises-3368388 

 US on high alert for Iran threat in region after Israeli strike in Syria
==========

The United States is on high alert and preparing for a possible attack by Iran targeting Israeli or American assets in the region in response to Israel's strike on the Iranian embassy in Syria. Suspected Israeli warplanes bombed Iran's embassy in Damascus on Monday, killing an Iranian military commander. Iran has said it reserves the right "to take a decisive response." U.S. President Joe Biden discussed the threat from Iran in a phone call on Thursday with Israeli Prime Minister Benjamin Netanyahu.

#Us #Iran #Israel #Syria #Attack #Tensions

https://www.investing.com/news/world-news/us-on-high-alert-against-iran-threat-after-israeli-strike-in-syria-3368282 

 Apple asks US appeals court to reverse Apple Watch import ban
==========

Apple has asked the US Court of Appeals for the Federal Circuit to overturn a ban on the import of some Apple Watches imposed by the US International Trade Commission (ITC) in a patent dispute with medical-monitoring technology company Masimo. Apple argues that the ITC's decision was based on flawed patent rulings and that Masimo failed to demonstrate investment in competing US products. Masimo had accused Apple of hiring its employees and stealing its pulse oximetry technology. The ban, which temporarily halted sales of the watches, was reinstated in January.

#Apple #AppleWatch #ImportBan #PatentDispute #Masimo #UsInternationalTradeCommission

https://www.investing.com/news/stock-market-news/apple-asks-us-appeals-court-to-reverse-apple-watch-import-ban-3368287 

 Why a near-miss cyberattack put US officials and the tech industry on edge
==========

German software developer Andres Freund discovered that the latest version of the open source software program XZ Utils had been deliberately sabotaged by one of its developers, a move that could have carved out a secret door to millions of servers across the internet. Security experts say it’s only because Freund spotted the change before the latest version of XZ had been widely deployed that the world was spared a digital security crisis. The developer who introduced the backdoor, Jia Tan, is believed to be a pseudonym for an expert hacker or group of hackers working on behalf of a powerful intelligence service. The incident has raised concerns about the safety of open source software and the need to protect it. Government officials are also considering the implications of the near-miss and discussing how to protect open source code. The Cybersecurity and Infrastructure Security Agency (CISA) is urging tech companies to contribute resources back to the open source communities that build and maintain the software.

#Cyberattack #UsOfficials #TechIndustry #OpenSourceSoftware #XzUtils #Backdoor #JiaTan #IntelligenceService #CybersecurityAndInfrastructureSecurityAgency #Cisa

https://www.investing.com/news/world-news/why-a-nearmiss-cyberattack-put-us-officials-and-the-tech-industry-on-edge-3367357 

 Morning Bid: All eyes on the jobs market
==========

Federal Reserve Chair Jerome Powell is awaiting new numbers on weekly jobless claims, with economists expecting the number to come in at 214,000. On Friday, March's nonfarm payroll employment data will be released, with analysts predicting the addition of 200,000 jobs. The Institute for Supply Management's gauge of the service sector came in weaker than expected, causing the dollar to decline. European stocks were up slightly, while oil traded at a five-month high. Euro zone inflation dropped to 2.4% in March, lower than expected. US March consumer price inflation data is due next week.

#JobsMarket #FederalReserve #JeromePowell #WeeklyJoblessClaims #NonfarmPayrollEmploymentData #InstituteForSupplyManagement #ServiceSector #Dollar #EuropeanStocks #Oil #EuroZoneInflation #UsConsumerPriceInflation

https://www.investing.com/news/economy/morning-bid-all-eyes-on-the-jobs-market-3365244 

 Ex-Marine facing extradition in Australia says wasn't US citizen at time of offence
==========

A former U.S. Marine Corps pilot, Daniel Duggan, who is facing extradition from Australia to the United States, will argue that he was no longer a U.S. citizen at the time of two of the alleged offences, including training Chinese pilots. Duggan, a 55-year-old Australian citizen, was arrested in October 2022 and is facing charges of money laundering and breaking U.S. law by training Chinese military pilots to land on aircraft carriers. His barrister stated that Duggan renounced his U.S. citizenship in January 2012, while the U.S. government claims he didn't lose his citizenship until 2016. Duggan's family is seeking government aid to continue his legal defense after spending A$800,000 on legal fees. The hearing on Duggan's eligibility for extradition is scheduled for May 24.



https://www.investing.com/news/world-news/exmarine-facing-extradition-in-australia-says-wasnt-us-citizen-at-time-of-offence-3364958 

 US Senate to consider nomination of NTSB chair for new term
==========

The U.S. Senate Commerce Committee will hold an April 10 hearing on the nomination of Jennifer Homendy to serve a new term as chair of the National Transportation Safety Board. Homendy, who has served on the board since 2018 and has been chair since August 2021, was renominated by President Joe Biden last month. She was the on-scene board member for last week's Baltimore bridge collapse and the Jan. 5 Alaska Airlines Boeing 737 MAX 9 mid-air emergency prompted by a door panel blowout. Homendy has also urged action after a series of near-miss aviation safety incidents and pushed for new train safety measures after the February 2023 derailment of a train in East Palestine, Ohio. She has criticized Boeing's lack of cooperation in the door plug probe and the National Highway Traffic Safety Administration for failing to ensure driver assistance systems are safe.

#UsSenate #Ntsb #JenniferHomendy #TransportationSafety #AviationSafety #TrainSafety #Boeing #NationalHighwayTrafficSafetyAdministration

https://www.investing.com/news/stock-market-news/us-senate-to-consider-nomination-of-ntsb-chair-for-new-term-3364864 

 Citi, JPMorgan, RBC to give new climate metric in deals with New York City
==========

Citigroup, JPMorgan, and Royal Bank of Canada (RBC) have agreed to disclose a new climate metric under agreements with New York City Comptroller Brad Lander. The banks will disclose their ratio of financing for low-carbon energy projects compared with their financing for fossil fuel projects. In return, retirement funds overseen by Lander have withdrawn shareholder resolutions calling for the disclosures. The new transparency will help investors measure the banks' commitment to climate goals. The forthcoming reports should cover equity and debt underwriting, syndicated lending, and project finance. JPMorgan and RBC have expressed their commitment to developing a decision-useful approach to disclosing a clean energy financing ratio. Citi's Chief Sustainability Officer, Val Smith, stated that the new metric will add to the bank's existing suite of climate reporting metrics.

#Citigroup #Jpmorgan #RoyalBankOfCanada #ClimateMetric #NewYorkCity #BradLander #LowcarbonEnergyProjects #FossilFuelProjects #RetirementFunds #ShareholderResolutions #Transparency #ClimateGoals #EquityUnderwriting #DebtUnderwriting #SyndicatedLending #ProjectFinance #CleanEnergyFinancingRatio #DecisionusefulApproach #CitiChiefSustainabilityOfficer #ValSmith #ClimateReportingMetrics

https://www.investing.com/news/stock-market-news/citi-jpmorgan-rbc-to-give-new-climate-metric-in-deals-with-new-york-city-3364798 

 BlackBerry reports surprise profit on demand for cybersecurity services
==========

Canada's BlackBerry reported a surprise profit for the fourth quarter, with an adjusted net profit of 3 cents per share, beating analysts' average estimate of a loss of 3 cents. The company's quarterly revenue stood at $173 million, beating analysts' average estimate of $154.78 million. Revenue in the cybersecurity unit rose 5% year-on-year to $92 million, while revenue from its internet of things (IoT) business jumped 25% to $66 million. BlackBerry expects first-quarter revenue in the range of $130 million to $138 million, below analysts' estimate of $151.12 million. The company expects full-year 2025 revenue in the range of $586 million to $616 million and adjusted loss per share of 3 cents to 7 cents.

#Blackberry #Cybersecurity #Profit #Revenue #Iot

https://www.investing.com/news/stock-market-news/blackberry-reports-surprise-profit-on-demand-for-cybersecurity-services-3364792 

 Google plans to charge for AI-powered search engine, FT reports
==========

Google is considering charging for premium features on its AI-powered search engine, according to the Financial Times. The tech giant is exploring options to incorporate AI-powered search features into its premium subscription services, while keeping its traditional search engine free and ad-supported. This move marks Google's first attempt to put one of its core products behind a paywall as it seeks to compete in the fast-growing AI space. Alphabet's shares dipped about 1% in extended trade.



https://www.investing.com/news/stock-market-news/google-plans-to-charge-for-aipowered-search-engine-ft-reports-3364674 

 Morning Bid: Bond selloff pauses on Powell, dollar wilts
==========

A pause in the global bond market selloff, stabilization on Wall Street, and a softer dollar should all help support Asian markets on Thursday. Federal Reserve Chair Jerome Powell reiterated that policymakers can take their time deliberating over when to deliver their first rate cut. U.S. Treasury Secretary Janet Yellen is visiting China as evidence mounts that the economy may finally be emerging from its post-lockdown funk. The recent whittling away of U.S. rate cut expectations has recently begun to squeeze bond and stock markets around the world. China's tentative recovery is also supporting the continued rise in global commodity prices. Investors will be wary of further aftershocks following a 7.2 magnitude earthquake that rocked Taiwan on Wednesday. India's services PMI figures will be closely watched to see if they match the strength of the manufacturing PMI earlier this week.

#BondMarket #AsianMarkets #FederalReserve #RateCut #JanetYellen #China #CommodityPrices #Earthquake #India #Pmi

https://www.investing.com/news/economy/morning-bid-bond-selloff-pauses-on-powell-dollar-wilts-3364663 

 Samsung profit likely biggest in six quarters on higher chip prices
==========

Samsung Electronics is expected to post a near nine-fold increase in first-quarter profit from a year earlier as rebounding semiconductor prices lift earnings from a low base caused by a severe chip downturn. Operating profit likely rose to 5.7 trillion won ($4.24 billion) in the quarter ended March 31, the highest since Q3 2022. The chip division is expected to report its first quarterly profit in five quarters of about 750 billion won. Memory chip prices have rebounded, with DRAM chips up 20% and NAND Flash chips up 23-28% in Q1. Samsung's mobile business likely reported an operating profit of around 3.8 trillion won, with an estimated 57 million smartphones shipped in Q1, up 8% from the previous quarter. The average selling price of Samsung smartphones also likely rose 30% to $340 quarter-on-quarter.

#SamsungElectronics #SemiconductorPrices #ChipDivision #MemoryChipPrices #SmartphoneSales

https://www.investing.com/news/stock-market-news/samsung-profit-likely-biggest-in-six-quarters-on-higher-chip-prices-3364653 

 US FDA approves Basilea Pharmaceutica's antibiotic
==========

The U.S. Food and Drug Administration (FDA) has approved Basilea Pharmaceutica's antibiotic ceftobiprole for the treatment of bacterial infections, including multidrug-resistant strains. The Switzerland-based company sought approval for the treatment of Staphylococcus aureus bacteremia, acute bacterial skin and skin structure infections, and community-acquired bacterial pneumonia. The approval provides additional options for patients who have developed resistance to currently available antibiotics. The antibiotic, sold under the brand name Zevtera, is an advanced-generation cephalosporin antibiotic that works against a wide range of Gram-positive and Gram-negative bacteria, including methicillin-resistant strains.

#Fda #BasileaPharmaceutica #Antibiotic #Ceftobiprole #BacterialInfections #MultidrugresistantStrains #StaphylococcusAureusBacteremia #AcuteBacterialSkinAndSkinStructureInfections #CommunityacquiredBacterialPneumonia #GrampositiveBacteria #GramnegativeBacteria #MethicillinresistantStrains

https://www.investing.com/news/economy/us-fda-approves-basilea-pharmaceuticas-antibiotic-3364318 

 Senior US diplomat links AUKUS submarine pact to Taiwan
==========

The State Department's No. 2 diplomat, Kurt Campbell, suggested that the AUKUS submarine project between Australia, Britain, and the U.S. could help deter any Chinese move against Taiwan. The project involves Australia acquiring nuclear-powered attack submarines as part of the allies' efforts to push back against China's growing power in the Indo-Pacific region. Campbell made a rare linkage between Taiwan and AUKUS, stating that the new submarine capabilities would enhance peace and stability, including in the strait that separates China and Taiwan. China has called the AUKUS pact dangerous and warned it could spur a regional arms race. U.S. President Joe Biden has sought to step up partnerships with allies in Asia, including Japan and the Philippines, amid China's military build-up and territorial assertiveness.

#Aukus #SubmarinePact #Taiwan #China #Indopacific #Diplomacy

https://www.investing.com/news/world-news/senior-us-diplomat-links-aukus-submarine-pact-to-taiwan-3364312 

 Biden to speak with Netanyahu on Thursday, US official says
==========

U.S. President Joe Biden will speak by phone with Israeli Prime Minister Benjamin Netanyahu on Thursday, three days after Israel launched an attack in which seven World Central Kitchen aid workers were killed, a U.S. official said. The White House has described Biden as outraged and heartbroken by the attack but the president has made no fundamental change in the United States' steadfast support for Israel in its conflict in Gaza.

#JoeBiden #BenjaminNetanyahu #Israel #Gaza #WorldCentralKitchen

https://www.investing.com/news/world-news/biden-to-speak-with-netanyahu-on-thursday-us-official-says-3364303 

 Top tech analyst shares a list of his favorite chip stocks
==========

Analysts at Mizuho highlighted their favorite semiconductor chip stocks in a note to clients this week, saying that "semi investors tend to like and favor signs of a trough or bottom and that is signaled to be 2024." The firm stated they remain bullish on memory and HDDs overall and still like Micron Technology, and Silicon Motion Technology despite the strong outperformance as of late. Mizuho noted a recent article that claimed Samsung could raise SSD pricing as much as 25% quarter-on-quarter in the second quarter, and that strong demand and lack of supply could result in an "out of stock" situation in SSDs for Samsung. "That would be very good for MU and WDC and SIMO in terms of ASPs for their businesses," added Mizuho.



https://www.investing.com/news/stock-market-news/top-tech-analyst-shares-a-list-of-his-favorite-chip-stocks-3364132 

 Nvidia supplier SK Hynix to invest $3.87 billion in US chip packaging plant
==========

SK Hynix, the world's second-largest memory chip maker, will invest $3.87 billion to build an advanced packaging plant and research and development facility for AI products in Indiana. The new plant will include an advanced chip production line to mass-produce next-generation high bandwidth memory (HBM) chips, currently used in graphic processing units that train artificial intelligence systems. Mass production is planned to start in the second half of 2028. The facility will also house a packaging R&D line. SK Hynix pledged in 2022 to invest $15 billion in the semiconductor industry through R&D programs, materials, and the creation of an advanced packaging and testing facility in the US.

#SkHynix #Nvidia #ChipPackagingPlant #Investment #SemiconductorIndustry #AiChips

https://www.investing.com/news/stock-market-news/nvidia-supplier-sk-hynix-to-invest-387-billion-in-us-chip-packaging-plant-3364283 

 U.S. private employers add 184,000 jobs in March - ADP
==========

Private sector employment in the U.S. increased by 184,000 jobs in March, surpassing economists' forecast of 148,000 jobs. This marks the largest increase in hiring since July and is led by the leisure and hospitality sector. Job gains were strong across industries except for professional services. Year-over-year pay gains for job-stayers remained flat at 5.1%, while gains for job-changers rose to 10%. The ADP numbers serve as a precursor to the non-farm payrolls report, which is expected to show that the U.S. economy added 205,000 jobs in March. The unemployment rate is forecast to remain unchanged at 3.9% and annual wage growth is expected to slow to 4.1% from 4.3% in February.

#UsPrivateSector #Employment #Jobs #Adp #Economists #LaborMarket #NonfarmPayrolls #UnemploymentRate #WageGrowth

https://www.investing.com/news/economic-indicators/us-private-employers-add-184000-jobs-in-march--adp-3363681 

 Lenz Therapeutics' eye disease drugs meet main goal of late-stage study
==========

Lenz Therapeutics announced that its experimental drugs to treat loss of near vision met the main goal of a late-stage study. The lead product candidate, LNZ100, showed statistically significant improvement in patients' ability to see details at a distance of 20 feet at three hours post-treatment. The other drug, LNZ101, also showed similar results but did not show superiority to LNZ100. Lenz plans to submit a marketing application for LNZ100 in the United States in mid-2024.

#LenzTherapeutics #EyeDiseaseDrugs #LatestageStudy #Lnz100 #Lnz101 #VisionLoss #Treatment #MarketingApplication

https://www.investing.com/news/stock-market-news/lenz-therapeutics-eye-disease-drugs-meet-main-goal-of-latestage-study-3363544 

 Reliance acquires American Alloy Steel to boost portfolio
==========

Reliance, Inc. has acquired American Alloy Steel, a specialty steel distributor based in Houston, Texas. The acquisition is part of Reliance's strategic initiative to enhance its value-added processing and fabrication capabilities and expand its specialty carbon steel plate product offerings. American Alloy Steel reported annual net sales of approximately $310 million for the year ending December 31, 2023. The existing management team of American Alloy will continue to lead the company. Reliance, headquartered in Scottsdale, Arizona, operates as the largest metals service center company in North America with a network of over 315 locations across 40 states and 12 countries. The acquisition is expected to be immediately accretive to Reliance's operations.



https://www.investing.com/news/stock-market-news/reliance-acquires-american-alloy-steel-to-boost-portfolio-93CH-3363414 

 Innospec COO announces retirement plans for 2025
==========

Dr. Philip Boon, the Executive Vice President and Chief Operating Officer of Innospec Inc., has announced his retirement on March 31, 2025. Dr. Boon will continue to provide consultancy services to the company after his retirement. The company has not yet named a successor for Dr. Boon. Investors will be monitoring how Innospec manages this leadership change.



https://www.investing.com/news/stock-market-news/innospec-coo-announces-retirement-plans-for-2025-93CH-3363318 

 MarketAxess reports record trading volumes in key sectors
==========

MarketAxess Holdings Inc. has reported a substantial increase in trading volumes across several categories for the first quarter ended March 31, 2024. The company witnessed a record total credit average daily trading volume (ADV) of $15.0 billion, marking a 9.2% rise from the previous year. Significant growth was observed in U.S. high-grade ADV, which surged by 18.0% to reach a record $7.5 billion. Emerging markets also experienced a notable uptick with a 17.3% increase in ADV, totaling a record $3.6 billion. The Eurobonds sector also reached a new high with a 10.6% increase in ADV to $2.0 billion. However, U.S. high-yield ADV fell by 29.4% to $1.4 billion. MarketAxess CEO Chris Concannon noted the record levels of ADV across product areas and the role of the new MarketAxess X-Pro in increasing client engagement.

#Marketaxess #TradingVolumes #CreditTrading #EmergingMarkets #Eurobonds #HighyieldTrading

https://www.investing.com/news/stock-market-news/marketaxess-reports-record-trading-volumes-in-key-sectors-93CH-3363362 

 Quhuo reports revenue surge from vehicle exports
==========

Quhuo Limited, a gig economy platform in China, has reported a significant surge in revenues from its vehicle export solutions. For the second half of 2023, vehicle export revenues reached RMB 142.5 million, accounting for 81.3% of the revenue from mobility solution services and contributing to a year-over-year increase of 239.6%. The full-year figures were equally strong, with vehicle export revenues reaching RMB 154.5 million, representing 66.1% of mobility solution services revenue and marking a year-over-year increase of 116.4%. Quhuo's net income for the latter half of the year was RMB 11.7 million, up 15.0% from the previous year, and for the entire year, the net income was RMB 6.0 million, a significant improvement from a net loss of RMB 16.4 million in 2022. The company's Chairman and CEO, Mr. Leslie Yu, expressed satisfaction with the fiscal year's strong financial and operational results, highlighting the strategic expansion into vehicle export solutions and SaaS+ services as part of the company's growth curve and profitability enhancement strategy initiated in 2021. Quhuo aims to leverage China's manufacturing capabilities and its expertise in internet operation and last-mile delivery to expand its global footprint and capture emerging opportunities.

#Quhuo #China #RevenueSurge #VehicleExports #MobilitySolutionServices

https://www.investing.com/news/stock-market-news/quhuo-reports-revenue-surge-from-vehicle-exports-93CH-3363312 

 Morgan Stanley drops Echostar share price target, eyes capital strategy amid industry challenges
==========

Morgan Stanley has adjusted its outlook on Echostar Holdings, reducing the share price target to $14.00 from $14.25. The firm retained its Equalweight rating on the stock. The revision reflects concerns about Echostar's focus on capital raising and cash preservation in 2024. Echostar's efforts to decrease operational expenditure are being closely monitored as the company faces tough revenue trends in its Pay-TV and Wireless segments. The Pay-TV and Wireless sectors of Echostar's business are currently experiencing challenging conditions. Morgan Stanley's commentary highlights the importance of Echostar's strategy in effectively managing its capital and reducing expenses without negatively impacting revenue. Echostar's market capitalization stands at $3.54 billion, and its financial health is under scrutiny with a negative P/E ratio and concerns about profitability. The company's Price/Book multiple is notably low at 0.18, potentially indicating undervaluation. However, Echostar's short-term obligations exceed its liquid assets, and it is burning through cash quickly. Morgan Stanley's adjustment of the share price target reflects broader evaluation of Echostar's financial strategies and market challenges.



https://www.investing.com/news/stock-market-news/morgan-stanley-drops-echostar-share-price-target-eyes-capital-strategy-amid-industry-challenges-93CH-3363144 

 Roth/MKM raises Virtra share price target on strong Q4 revenue and AEBITDA growth
==========

Roth/MKM has increased Virtra's price target to $19.00, up from $14.50, while maintaining a Buy rating. Virtra's Q4 2023 results showed a modest revenue surplus and satisfactory Adjusted EBITDA (AEBITDA) performance. The company's bookings more than doubled year-over-year, contributing to a growing backlog. Virtra's financial growth in 2023 included a 34% revenue increase and a more than threefold rise in AEBITDA. Roth/MKM's positive outlook reflects confidence in Virtra's operational progress and financial trajectory.



https://www.investing.com/news/stock-market-news/rothmkm-raises-virtra-share-price-target-on-strong-q4-revenue-and-aebitda-growth-93CH-3363135 

 Guggenheim downgrades Endeavor Group stock following Silver Lake's take-private deal
==========

Guggenheim downgraded Endeavor Group Holdings Inc (NYSE:EDR) stock from Buy to Neutral and revised the price target to $27.50 from $36.00. The downgrade comes after Silver Lake, Endeavor's largest shareholder, reached an agreement to take the company private at $27.50 per share, representing a 55% premium over the unaffected share price. The acquisition has been recommended by a Special Committee of Endeavor's Independent Directors and approved by majority stockholders. The deal is expected to be finalized by the end of Q1 2025. The analyst noted that the one-year timeline for the deal's closure is likely linked to the gaming licenses held by Endeavor's subsidiary, OpenBet. TKO, which is not involved in the transaction, stands to benefit as it remains a publicly traded company. The analyst also mentioned that concerns about TKO's balance sheet being used for Endeavor's privatization were unfounded, and a capital return program for TKO could now be more probable.



https://www.investing.com/news/stock-market-news/guggenheim-downgrades-endeavor-group-stock-following-silver-lakes-takeprivate-deal-93CH-3363132 

 Primo Water stock downgraded by Raymond James amid strong year-to-date gains
==========

Raymond James downgraded Primo Water stock from Strong Buy to Outperform, with a price target of $21.00. The company's shares have seen a 19% increase since the beginning of the year. Positive developments for Primo Water include the sale of its European operations to Culligan, a reduction in debt, an expanded share buyback program, and a third consecutive annual dividend increase. However, Raymond James believes that most of the "easy money" has been made with Primo Water's stock and that the company lacks operational catalysts under the new CEO. The potential for mergers and acquisitions is noted as the only significant catalyst on the horizon. Raymond James suggests that an increase in M&A activities would be needed to revise its target price for Primo Water.



https://www.investing.com/news/stock-market-news/primo-water-stock-downgraded-by-raymond-james-amid-strong-yeartodate-gains-93CH-3363114 

 US Dollar Uptrend Under Threat as Rate Cut Bets Rise; EUR/USD in a Prize Squeeze
==========

Speculation surrounding a potential Fed interest rate cut in June gained traction, fueled by expectations of up to three rate reductions this year. The upcoming NFP data, due at the end of the week, will be closely monitored as it could significantly impact the dollar index. EUR/USD is experiencing a price squeeze, with expectations that the Fed may cut rates in June while the ECB may cut rates in May. The euro's performance against the dollar will depend on the dynamics between the Fed and the ECB.

#UsDollar #Eur/usd #InterestRateCuts #Fed #Ecb

https://www.investing.com/analysis/us-dollar-uptrend-under-threat-as-rate-cut-bets-rise-eurusd-in-a-prize-squeeze-200647256 

 Austria's RHI Magnesita to buy US-based alumina producer Resco
==========

Austria's RHI Magnesita plans to acquire Resco Group, a US-based producer of alumina and refractories, for an enterprise value of up to $430 million. The acquisition will support RHI Magnesita's growth in alumina-based refractories and improve its product range for US customers. The cash consideration for the acquisition is expected to be around $324 million, funded by RHI Magnesita's existing liquidity and a new committed facility of 200 million euros. The acquisition is subject to customary closing conditions and is expected to be completed in the second half of this year.



https://www.investing.com/news/stock-market-news/austrias-rhi-magnesita-to-buy-usbased-alumina-producer-resco-3359444 

 US futures rise at start of Q2, fresh record for gold- what's moving markets
==========

US stock futures traded higher as Q2 begins, following a market holiday on Friday. Gold prices surged to a fresh record on bets for rate cuts from the Federal Reserve. The second quarter is expected to continue the strong start to the year for the US stock market. Gold prices rose to a record high on Monday, as a softer US inflation reading cemented bets that the Fed would deliver its first interest rate cut of the year in June. Microsoft will sell its chat and video app Teams separately from its Office product globally. Oil prices ticked higher on Monday, building on recent gains as upbeat factory data out of China supported the demand outlook while concerns over tight supplies also underpinned prices.

#UsFutures #GoldPrices #FederalReserve #Q2 #Microsoft #OilPrices

https://www.investing.com/news/economy/us-futures-rise-at-start-of-q2-fresh-record-for-gold-whats-moving-markets-3358972 

 Tesla lifts US prices of Model Y vehicles by $1,000
==========

Tesla has increased the prices of its Model Y vehicles in the United States by $1,000. The starting price of the base variant is now $44,990, while the long-range and performance variants are priced at $49,990 and $53,490, respectively. This price hike aligns with Tesla's previous announcement in March. Analysts have revised their delivery forecasts for Tesla downwards for the first quarter, citing concerns over electric vehicle demand and the competitive landscape in China. Tesla is set to release its first-quarter production and delivery figures later this week.

#Tesla #ModelY #ElectricVehicles #PriceIncrease

https://www.investing.com/news/stock-market-news/tesla-lifts-us-prices-of-model-y-vehicles-by-1000-432SI-3358963 

 Morning Bid: China's positive PMIs set bullish tone
==========

Asian markets are expected to start the new quarter on a positive note following evidence of a 'soft landing' in the US and positive manufacturing and service sector activity in China. The trading volume on Monday will be lighter than usual due to the Easter holiday in Europe, but US stock and bond markets are open. Key indicators to watch in Asia include manufacturing purchasing managers index reports from several countries, South Korean trade data, Indonesian inflation figures, and Japan's tankan business conditions surveys. The exchange rates of Japan's yen and China's yuan will also be under scrutiny. China's unofficial Caixin manufacturing PMI figures will be released on Monday. Investors will also be looking for evidence of economic momentum and recovery in domestic demand in Japan's tankan survey. Indonesian consumer inflation is expected to rise due to higher meat and food prices. Other highlights include more PMIs, inflation data from South Korea and the Philippines, and the latest monetary policy decision and guidance from the Reserve Bank of India.

#AsianMarkets #China #Us #Manufacturing #ServiceSector #TradingVolume #EconomicIndicators #ExchangeRates #CaixinManufacturingPmi #TankanSurvey #Inflation #Pmis #ReserveBankOfIndia

https://www.investing.com/news/economy/morning-bid-chinas-positive-pmis-set-bullish-tone-3358686 

 Mexican authorities investigate death of eight Chinese migrants
==========

Mexican authorities are investigating the death of eight Chinese migrants who died when their boat capsized off the coast of the Mexican state of Oaxaca. The incident occurred on Friday, and the only survivor, a man, stated that the boat was steered by a Mexican and that they had departed from Tapachula in Chiapas state on Thursday. Tapachula is a border city with Guatemala and a common departure point for migrants hoping to reach the United States. The other migrants on the boat, seven women and one man from China, all died. The Mexican authorities have not officially identified the victims. The incident is being investigated as part of the increasing number of Chinese migrants attempting to reach the United States due to difficulties in obtaining visas and the economic impact of COVID-19 lockdowns.

#MexicanAuthorities #ChineseMigrants #BoatCapsized #Investigation #Tapachula #UnitedStates #Visas #Covid19Lockdowns

https://www.investing.com/news/world-news/mexican-authorities-investigate-death-of-eight-chinese-migrants-3358681 

 Texas federal judge blocks updated fair lending rules
==========

A federal judge in Texas has blocked the enforcement of new regulations adopted during the Biden administration that sought to overhaul how lenders extend loans and other services to low- and moderate-income Americans. U.S. District Judge Matthew Kacsmaryk sided with banking and business groups, finding that the new rules ran afoul of the Community Reinvestment Act of 1977. The judge issued a preliminary injunction blocking their enforcement before they could take effect on Monday. The Federal Reserve, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency updated their rules last year to enforce the fair lending law, which seeks to ensure banks lend in their local communities. The new rules broadened the geographies in which lenders were required to extend loans and other services to low-income Americans, but the judge agreed with the business and banking groups that the regulations went beyond what the 1977 law authorized.

#FairLendingRules #Texas #CommunityReinvestmentAct #Banking #BusinessGroups

https://www.investing.com/news/stock-market-news/texas-federal-judge-blocks-updated-fair-lending-rules-3358335 

 US pension fund CalPERS votes for Peltz, Rasulo in Disney boardroom fight
==========

The California Public Employees Retirement System (CalPERS) has voted to elect activist investment firm Trian Fund Management's two director candidates, Nelson Peltz and Jay Rasulo, to the board of Walt Disney Co. CalPERS, which owned 6.65 million shares in Disney at the end of December, believes the company will benefit from fresh eyes on its board of directors.

#Calpers #TrianFundManagement #NelsonPeltz #JayRasulo #WaltDisneyCo #BoardOfDirectors

https://www.investing.com/news/stock-market-news/us-pension-fund-calpers-votes-for-peltz-rasulo-in-disney-boardroom-fight-3358313 

 Texas appeals court blocks state from probing transgender kids' parents
==========

A Texas appeals court has upheld a lower court's injunction blocking the state from investigating parents who provide their transgender children with gender-affirming medical treatments. Governor Greg Abbott had ordered the state Department of Family Protective Services (DFPS) to carry out child abuse investigations into families whose children were receiving puberty-blocking treatments in February 2022. The appeals court's ruling is a victory for LGBTQ groups, medical professionals, and civil liberties advocates opposing moves by conservative politicians in dozens of states to criminalize gender-transitioning treatments for trans youth.

#Texas #TransgenderRights #CourtRuling #ChildAbuseInvestigations #Lgbtq #MedicalTreatments

https://www.investing.com/news/world-news/texas-appeals-court-blocks-state-from-probing-transgender-kids-parents-3358289 

 U.S. Commerce updates export curbs on AI chips to China
==========

The Biden administration has revised rules aimed at making it harder for China to access U.S. artificial intelligence chips. The rules, released in October 2023, seek to halt shipments of advanced AI chips designed by Nvidia and others to China. The Commerce Department is making clarifications and corrections effective April 4.

#UsCommerceDepartment #ExportCurbs #AiChips #China #Nvidia

https://www.investing.com/news/stock-market-news/us-commerce-updates-export-curbs-on-ai-chips-to-china-3358266 

 US Congress bans staff use of Microsoft's AI Copilot, Axios reports
==========

The U.S. House has set a strict ban on congressional staffers' use of Microsoft's Copilot, the company's generative AI assistant, Axios reported on Friday.



https://www.investing.com/news/stock-market-news/us-congress-bans-staff-use-of-microsofts-ai-copilot-axios-reports-3358200 

 New US inflation data 'along the lines' of what Fed wants, Powell says
==========

Federal Reserve Chair Jerome Powell stated that the latest US inflation data is 'along the lines' of what the Fed wants. The personal consumption expenditures (PCE) price index data for February, released on Friday, showed an increase at a 2.5% annual rate, slightly higher than expected. Powell stated that the data is in line with the Fed's baseline outlook and does not warrant an overreaction. He also emphasized that the economy is strong and there is no need to rush into interest rate cuts. Powell will have another opportunity to discuss the monetary policy outlook in a public appearance next week.

#UsInflation #FederalReserve #JeromePowell

https://www.investing.com/news/economy/powell-to-update-views-on-policy-as-inflation-remains-sticky-3358046 

 Haley voters, Trump doesn't want you, new Biden ad says
==========

President Joe Biden's reelection campaign is appealing directly to supporters of former Republican presidential candidate Nikki Haley, who was the last major opponent to Donald Trump before she withdrew from the race earlier this month. Biden released a new ad stating that Trump doesn't want the votes of Haley voters and that there is a place for them in his campaign. The ad includes video clips of Trump criticizing Haley. Almost 570,000 voters in three key battleground states - Nevada, North Carolina, and Michigan - voted for Haley in the Republican nominating contest. Many Haley voters have questioned if they still have a place in the Republican Party, which has rallied around Trump despite his false claims about the 2020 election and the January 6th Capitol riot. Biden, who is 81 years old, will need as much support as possible for his reelection campaign, as recent polls show his approval rating at 40% and a tight race with Trump, who is 77 years old.

#UsPresidentialElection #NikkiHaley #DonaldTrump #JoeBiden

https://www.investing.com/news/world-news/haley-voters-trump-doesnt-want-you-new-biden-ad-says-3358182 

 Automakers urge White House to oppose US Steel sale to Cleveland-Cliffs
==========

A group representing major automakers has urged the White House to oppose any effort by steelmaker Cleveland-Cliffs to buy rival U.S. Steel, warning that a deal could result in anti-competitive pricing for vehicles. The group, which includes General Motors, Volkswagen, and Hyundai, stated that a consolidation of the two companies would place 65 to 90% of steel used in vehicles under the control of a single company. President Joe Biden has previously stated that U.S. Steel must remain a domestically-owned U.S. firm. The automaker group also warned that a deal could drive up the cost of steel and electric vehicle (EV) production, ultimately increasing the cost of finished vehicles for American consumers. Cleveland-Cliffs has said it would consider another bid for U.S. Steel if the deal with Japan's Nippon Steel falls apart.

#Automakers #WhiteHouse #UsSteel #Clevelandcliffs #VehiclePricing

https://www.investing.com/news/stock-market-news/automakers-urge-white-house-to-oppose-us-steel-sale-to-clevelandcliffs-3358169 

 Judge orders scrapping New Jersey controversial ballot design for Senate primary
==========

A federal judge has ordered the scrapping of New Jersey's controversial ballot design for the June Senate primary. The design, which gave party-backed candidates an advantage, will be replaced with office block ballots where candidates are placed together by the office they seek. The preliminary injunction was sought by Democratic U.S. Representative Andy Kim and two congressional candidates. New Jersey's primaries will be held on June 4. The decision aims to eliminate the so-called county line, which gives local party leaders excessive influence over elections. Democrats are strongly favored to hold the Senate seat in November, as New Jersey has not elected a Republican to the Senate since 1972. Senator Bob Menendez's seat is up for reelection in November and more than a dozen people have filed to run. Menendez has faced charges of taking bribes and obstruction of justice, but has pleaded not guilty to all charges. The judge's decision comes as Democrats and independents currently hold a narrow 51-49 majority in the Senate.

#NewJersey #SenatePrimary #BallotDesign #DemocraticParty #Elections

https://www.investing.com/news/world-news/judge-orders-scrapping-new-jersey-controversial-ballot-design-for-senate-primary-3358166 

 US finalizes tougher new tailpipe emissions limits for heavy duty vehicles
==========

The U.S. Environmental Protection Agency (EPA) has finalized stringent new tailpipe emissions standards for heavy-duty vehicles, including semi-trucks and buses. The new rules, which apply to the 2027 through 2032 model years, are expected to avoid 1 billion tons of greenhouse gas emissions and provide $13 billion in annualized net benefits to society. Heavy-duty vehicles account for 25% of all greenhouse gas emissions from the transportation sector in the U.S. The EPA stated that the standards are technology-neutral and performance-based, allowing manufacturers to choose the emissions control technologies that best suit their needs. The new standards apply to various types of vehicles, including delivery trucks, garbage trucks, public utility trucks, transit, shuttle, and school buses, and tractor-trailer trucks. The EPA also mentioned that the final rule provides more time in the early model years for the development of vehicle technologies and the deployment of charging and refueling infrastructure, as well as flexibilities to assist manufacturers in meeting the standards in the early years. Last week, the EPA also finalized emissions rules for light and medium-duty vehicles through 2032, reducing its target for U.S. electric vehicle adoption from 67% to as little as 35% by 2032.

#UsEnvironmentalProtectionAgency #TailpipeEmissions #HeavydutyVehicles #GreenhouseGasEmissions #TransportationSector #EmissionsStandards

https://www.investing.com/news/stock-market-news/us-finalizes-tougher-new-tailpipe-emissions-limits-for-heavy-duty-vehicles-3358030 

 Factbox-Major cases before the US Supreme Court this term
==========

The U.S. Supreme Court's current term features major cases involving former President Donald Trump's ballot disqualification, his claim of immunity from prosecution, the abortion pill, gun rights, the power of federal agencies, social media regulation, and Purdue Pharma's bankruptcy settlement. The court has already ruled on cases involving Trump's ballot disqualification and the immunity claim. Cases still to be argued include abortion pill access, Idaho's abortion law, bump stocks, the National Rifle Association's free speech rights, domestic violence gun curbs, South Carolina's electoral map, fish conservation program, consumer watchdog agency's funding, SEC in-house enforcement, social media and government officials, social media content moderation, Purdue Pharma's bankruptcy settlement, homeless encampments, tax on foreign earnings, and a trademark dispute involving the phrase 'Trump Too Small.'

#UsSupremeCourt #DonaldTrump #Abortion #GunRights #FederalAgencies #SocialMediaRegulation #PurduePharma

https://www.investing.com/news/stock-market-news/factboxmajor-cases-before-the-us-supreme-court-this-term-3357973 

 US probes Stellantis 2022 RAM truck models over K1 snap ring transmission failures
==========

The U.S. Office of Defect Investigations (ODI) has opened a preliminary evaluation of a failure of the K1 snap ring in Stellantis' 2022 RAM 3500, 4500, and 5500 trucks. The investigation was announced by the National Highway Traffic Safety Administration. The probe is focused on the transmission failures in the trucks. Stellantis is the parent company of Chrysler. The investigation is in its preliminary stage and no recall has been issued yet.

#Stellantis #RamTrucks #K1SnapRing #TransmissionFailures #OfficeOfDefectInvestigations #NationalHighwayTrafficSafetyAdministration

https://www.investing.com/news/stock-market-news/us-probes-stellantis-2022-ram-truck-models-over-k1-snap-ring-transmission-failures-3357965 

 Gold prices in sight of record highs; copper rebounds on China cues
==========

Gold prices steadied in Asian trade, sitting near record high as traders bought into the yellow metal ahead of more cues on U.S. inflation and interest rates. Copper prices rebounded from recent losses, moving back towards 11-month peaks after reports showed that Chinese copper smelters were proposing output cuts. Gold prices steadied at $2,195.34 an ounce, while expiring in April steadied at $2,215.80 an ounce. Spot prices were just below a record high of $2,222.90 an ounce hit last week. Focus was now squarely on PCE price index data- the Fed’s preferred inflation gauge- which is due on Friday. Any signs of cooling inflation are likely to trigger strong gains in metal markets, given that they increase the chances of early interest rate cuts. Along with the PCE data, separate addresses from Fed Chair Jerome Powell and FOMC member Mary Daly are also due on Friday. Any signals from the two on interest rate cuts will be closely watched, after other Fed officials struck a somewhat hawkish tone this week. Three-month copper futures on the London Metal Exchange rose 0.5% to $8,913.0 a ton, while one-month U.S. copper futures rose 0.4% to $4.0303 a pound. Major Chinese copper smelters were considering output cuts, and had also set no guidance for copper prices in the second quarter. Reports of Chinese production cuts, which herald tighter markets for refined copper, had triggered sharp gains in copper prices earlier in March, putting them at 11-month highs. But these gains were offset by data showing Chinese copper inventories remained robust, which in turn suggested that markets may not be as tight as initially expected.

#Gold #Copper #China #Inflation #InterestRates

https://www.investing.com/news/commodities-news/gold-prices-in-sight-of-record-highs-copper-rebounds-on-china-cues-3356109 

 Asian stocks skittish ahead of more US rate cues; Nikkei slides
==========

Asian stocks were skittish ahead of key U.S. inflation data and addresses by Federal Reserve officials. Japan's Nikkei 225 fell more than 1% as several heavyweight stocks traded ex-dividend. Australia's ASX 200 rose as much as 1% to a record high of 7,901.20 points. The index was boosted by broad-based gains and a less hawkish outlook for the Reserve Bank of Australia. Broader Asian stocks kept to a tight range, with Shanghai Shenzhen CSI 300 and Hong Kong's Hang Seng index recovering mildly from recent losses. South Korea's KOSPI fell 0.1% as a rally in technology stocks cooled. India's Nifty 50 index pointed to a mildly negative open.

#AsianStocks #UsRateCues #Nikkei #InflationData #FederalReserve #Asx200 #ReserveBankOfAustralia #ShanghaiShenzhenCsi300 #HangSeng #Kospi #Nifty50

https://www.investing.com/news/stock-market-news/asian-stocks-skittish-ahead-of-more-us-rate-cues-nikkei-slides-3356065 

 US stock futures edge lower as hawkish Waller cools rate cut hopes
==========

US stock index futures fell slightly in evening deals on Wednesday after hawkish comments from Federal Reserve Governor Christopher Waller saw markets run out of steam, following a strong session on Wall Street. Waller said there was no hurry for the Fed to cut interest rates now, citing a slew of hotter-than-expected inflation readings in recent months. Overall trading volumes were somewhat muted ahead of the Good Friday holiday. S&P 500 Futures fell 0.1% to 5,304.75 points, while Nasdaq 100 Futures fell 0.1% to 18,485.75 points by 19:16 ET (23:16 GMT). Dow Jones Futures fell 0.1% to 40,119.0 points.

#UsStockFutures #RateCutHopes #ChristopherWaller

https://www.investing.com/news/stock-market-news/us-stock-futures-edge-lower-as-hawkish-waller-cools-rate-cut-hopes-3356004 

 Impact of the Recession in Germany on the Economies of the EU and Asia
==========

Germany's recession has historically highlighted the country's economic resilience and vulnerability. The recession affects consumer spending, production, and unemployment. Germany's economy is pivotal in the EU and a crucial trade partner to Asian countries. Intra-EU exchanges constitute 53% of Germany's exports, while China is a major non-EU trading partner. A German recession could disrupt trade flows within the EU and send shockwaves through European financial markets. Asian economies with strong ties to Germany could experience decreased exports and disruptions in supply chains. The interconnectedness of global economies highlights the need for vigilant monitoring and adaptive strategies to navigate the complex web of financial relationships.

#Germany #Recession #Eu #Asia #Trade #Economy

https://www.investing.com/analysis/impact-of-the-recession-in-germany-on-the-economies-of-the-eu-and-asia-200647171 

 US supply chain task force to discuss Baltimore bridge collapse
==========

A U.S. federal supply chain task force will meet on Wednesday to assess the Baltimore bridge collapse and port closure. The Francis Scott Key bridge in Baltimore, Maryland, collapsed on Tuesday after a freight ship crashed into it, leaving six construction workers presumed dead after falling into the frigid water below. U.S. Treasury Secretary Janet Yellen said the Biden administration did not want financing concerns to hold up bridge reconstruction and that insurance payments would likely be made to cover the costs. The supply chain task force, set up to ease COVID-19-era port blockages, will review the latest information on the Baltimore port situation.

#UsSupplyChain #TaskForce #BaltimoreBridgeCollapse #PortClosure #FrancisScottKeyBridge #FreightShip #ConstructionWorkers #JanetYellen #BidenAdministration #FinancingConcerns #InsurancePayments #SupplyChainTaskForce #Covid19 #PortBlockages

https://www.investing.com/news/world-news/us-supply-chain-task-force-to-discuss-baltimore-bridge-collapse-3355498 

 US court keeps Texas border security law on hold in win for Biden
==========

A U.S. appeals court has kept on hold a Republican-backed Texas law that would let state authorities arrest and prosecute people suspected of illegally crossing the U.S.-Mexico border. The law, formally called S.B. 4, has become a flashpoint in a broader battle between Texas and the Biden administration over border security and immigration. The 5th Circuit panel's action was the latest of three rapid-fire rulings on the status of the law. The Biden administration's lawsuit argued that the measure violates the U.S. Constitution and federal law by interfering with the U.S. government's power to regulate immigration. The 5th Circuit panel is scheduled to hear arguments on the merits of the state's appeal on April 3.

#Texas #BorderSecurity #BidenAdministration #Immigration

https://www.investing.com/news/world-news/us-court-keeps-texas-border-security-law-on-hold-in-win-for-biden-3354574 

 Column-Nagging thoughts of a stock market correction :Mike Dolan
==========

Trot out almost any macro market metric you care to think of these days and there appears to be a positive twist - at least for record high stock markets that have clocked up more than 10% gains for a first quarter that was marked at the outset by much investor angst and trepidation. U.S. stocks are expensive but not at extremes, it's argued, and earnings forecasts for next year are rising smartly to near 14%. U.S. economic growth is slowing a bit but recession this year now seems far fetched. Still-high interest rates are set to start falling over the summer as somewhat sticky inflation subsides again. And implied volatility gauges in stock, bond and currency markets are unusually subdued. The picture outside the United States may be patchier, but stocks in Europe or Japan are cheaper too and the economic growth nadir in both areas may already have passed. European rates may even start falling before U.S. equivalents. From the trough of last October's bond-related shakeout, the benchmark S&P500 has gained 25% in just 5 months. But the equal-weighted version of the index - which corrects for the outsized performance of leading megacaps - has jumped 23% in that time, Russell 2000 small caps have rebounded 26% and Japanese and euro zone blue chips are up 28% and 25% respectively in dollar terms. The most recent Bank of America global fund manager survey has stock allocations at two-year highs and the highest 'risk appetite' gauges since November 2021. Swiss asset manager Julius Baer's chief investment officer Yves Bonzon said he is starting to wobble on his still-overweight equities position - fearing a combination of herding consensus, a seasonal lull in equity demand over the summer and the upcoming U.S. election uncertainty. A 10-15% correction could happen at any time and would, I'd argue, be healthy. The assumption is that cash stash is there until the Fed finally starts to cut short-term interest rates - and futures have that penciled in for June. Then it starts to stream out to either bonds or equity. If the Fed were to hesitate in easing in the second quarter, then it could be a bumpy summer. AXA Investment Managers' Chris Iggo points out the average return of the S&P 500 in U.S. Presidential election years has been around 11%. And that's what it's done already in 2024. But 'if we are now in a benign growth cycle – then financial market returns could be more like their long-term averages,' he wrote. 'That means slightly higher for bonds than in recent years and slightly less for equities than over the last year. But good overall.'

#StockMarket #Correction #Equities #InterestRates #EconomicGrowth #Volatility #Investors

https://www.investing.com/news/economy/columnnagging-thoughts-of-a-stock-market-correction-mike-dolan-3354313 

 Exclusive-Russia struggles to collect oil payments as China, UAE, Turkey raise bank scrutiny
==========

Russian oil firms are facing delays of up to several months in receiving payments for crude and fuel as banks in China, Turkey, and the UAE increase their scrutiny due to U.S. secondary sanctions. Several banks in these countries have raised their sanctions compliance requirements, resulting in delays or rejections of money transfers to Moscow. The banks are asking their clients to provide written guarantees that no person or entity from the U.S. SDN list is involved in the deal or is a beneficiary of a payment. The payment delays reduce revenue to the Kremlin and make them erratic, allowing the U.S. to disrupt money going to the Kremlin while not interrupting global energy flows. The increased scrutiny by banks in China, UAE, and Turkey is in response to a U.S. Treasury executive order published on December 22, 2023, warning of the possibility of secondary sanctions on Russia. Chinese, UAE, and Turkish banks have increased checks, asked for extra documentation, and trained more staff to ensure compliance with the price cap imposed by the West on Russian oil. The delays in payments have caused problems for Russian oil firms, with one source reporting a delay of two months for a payment. The payment delays have made it tough for both dollar and direct yuan-rouble transactions to be executed, taking weeks to process.

#Russia #OilPayments #China #Uae #Turkey #BankScrutiny #Sanctions #SecondarySanctions

https://www.investing.com/news/commodities-news/exclusiverussia-struggles-to-collect-oil-payments-as-china-uae-turkey-raise-bank-scrutiny-3354283 

 'Civil War' movie set in near-future US poses questions about politics and journalism
==========

The movie 'Civil War' is a tense thriller set in a near-future United States. It follows a group of journalists, including fictional Reuters photographer Lee (played by Kirsten Dunst) and reporter Joel (played by Wagner Moura), as they document societal collapse and chase a scoop in a conflict-torn country. The film explores the role of journalists and the decline of good journalism, as well as the rise of polarized populist politics. Director Alex Garland wrote the film during the COVID-19 pandemic and the lead-up to the 2020 U.S. presidential election. 'Civil War' will be released globally on April 10.

#CivilWar #Movie #Politics #Journalism #AlexGarland #KirstenDunst #WagnerMoura

https://www.investing.com/news/world-news/civil-war-movie-set-in-nearfuture-us-poses-questions-about-politics-and-journalism-3354236 

 Oil prices fall for a second day as US crude inventories increase
==========

Oil prices fell for a second day after US crude inventories surged by 9.3 million barrels. Gasoline stocks, however, fell by 4.4 million barrels. The Organization of the Petroleum Exporting Countries and allies (OPEC+) is unlikely to make any oil output policy changes until a full ministerial gathering in June. OPEC+ members agreed to extend their output cuts of about 2.2 million barrels per day to the end of June. Russia has ordered companies to cut their output to comply with the target. Iraq's oil ministry also said it would reduce its exports to compensate for earlier overproduction. Traders are watching OPEC members for any sign they may be altering their stance on production quotas.

#OilPrices #UsCrudeInventories #Opec+

https://www.investing.com/news/commodities-news/oil-prices-fall-for-a-second-day-as-us-crude-inventories-increase-3354214 

 US artist Richard Serra, known for enormous steel sculptures, dead at 85
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American artist Richard Serra, known for his enormous steel sculptures, has died at the age of 85. Serra, born in San Francisco in 1938, grew up visiting marine shipyards and worked in steel mills in his youth. He was considered a minimalist artist, focusing on the dimensions of his art relative to the viewer. Serra gained recognition in 1969 when he was included in an exhibition at the Solomon R. Guggenheim Museum. His work was especially appreciated in Spain, where he had a retrospective at the Reina Sofia museum and an exhibit at the Guggenheim museum in Bilbao. Serra's death was attributed to pneumonia.

#RichardSerra #SteelSculptures #MinimalistArt

https://www.investing.com/news/world-news/us-artist-richard-serra-known-for-enormous-steel-sculptures-dead-at-85-3354213 

 Gold’s Long-Term Bullish Trend Still Intact Despite Recent Pullback
==========

Gold's strong trend weakened due to a strong US dollar, causing mild bearish price action. Dollar's strength, driven by external factors and positive US economic indicators, weighed on gold. Despite short-term setbacks, gold's long-term trend remains bullish, with potential for record highs in the future.



https://www.investing.com/analysis/golds-longterm-bullish-trend-still-intact-despite-recent-pullback-200647075 

 Stocks in for Wild Trading Week as Economic Data Tests Fed's Rate Cut Resolution
==========

This week is expected to be volatile for stocks as economic data tests the Federal Reserve's rate cut resolution. On Friday, a PCE report is expected to show a gain of 0.4% in February, pushing the 3-month rate of change up to 3.5% and the 6-month rate of change up to 2.9%. Atlanta Fed Governor Bostic now only sees one rate cut in 2024, down from his previous expectations of 2. The Fed's promise of rate cuts may be more than what is likely to be given, and they may walk back those rate cuts over time. The inflation swaps market is pricing in hotter CPI prints for April and May. Investment grade spreads and high yield spreads are rising, indicating potential tightening of financial conditions. The S&P 500 index is at the upper end of its rising channel and may move lower. The Nasdaq 100 index is in an ascending broadening wedge pattern. It is important to monitor these factors closely.

#Stocks #Trading #EconomicData #FederalReserve #RateCut #PceReport #Inflation #InvestmentGradeSpreads #HighYieldSpreads #S&p500 #Nasdaq100

https://www.investing.com/analysis/stocks-in-for-wild-trading-week-as-economic-data-tests-feds-rate-cut-resolution-200647060 

 S&P 500 Earnings: 1 Week Left in Quarter, Q1 '24 Earnings Appear in Good Shape
==========

The forward-quarter S&P 500 EPS estimate for Q1 '24 was $242.89, down from last week's $243.31 and January 1's $243.98. The erosion on the forward estimate over the last 90 days has been less than 1%. The PE ratio for the S&P 500 this week was 21.5x, compared to 21x last week and early January '24. The S&P 500 earnings yield fell almost every week in Q1 '24. The Q4 '23 bottom-up S&P 500 EPS estimate has risen from $54.69 in early January '24 to $57.11. The Q1 '24 bottom-up S&P 500 EPS estimate is expected to start around $54.90 - $55 per share. Consumer discretionary, real estate, technology, and communication services sectors have seen positive revisions in their growth rates for Q1 '24. Q1 '24 revenue expectations range from +6.9% for real estate to -4.9% for basic materials. Technology, consumer discretionary, and communication services comprise 50% of the S&P 500 by market cap. Q1 '24 earnings results for the S&P 500 are expected to be solid. The US economy is in reasonably good shape, and S&P 500 earnings are expected to remain in the 5% - 10% growth range. Q4 '23 earnings grew 10.1% instead of the expected 4%. There are no warning flags for Q1 '24 earnings yet.

#S&p500 #Q12024 #Earnings #Estimates #RevenueGrowth #Sectors

https://www.investing.com/analysis/sp-500-earnings-1-week-left-in-quarter-q1-24-earnings-appear-in-good-shape-200647065 

 Asian stocks skittish ahead of data packed-week, Japan’s Nikkei falls
==========

Asian stocks were skittish ahead of a data-packed week, with Japan's Nikkei 225 falling 0.7% from record highs. The Nikkei surged to new peaks last week despite the Bank of Japan's first interest rate hike in 17 years, but the prospect of more tightening in Japanese monetary policy weighed on the index. Chinese stocks also fell amid fears of increased US export restrictions and positive government signals. Most other Asian markets were muted, with South Korea's KOSPI falling 0.1% and Malaysian stocks leading losses in Southeast Asia with a 0.5% decline. The ASX 200 in Australia was an outlier, rising 0.6% on strength in mining and bank stocks.

#AsianStocks #Japan'sNikkei #DatapackedWeek #BankOfJapan #InterestRateHike #ChineseStocks #UsExportRestrictions #SouthKorea'sKospi #MalaysianStocks #Asx200

https://www.investing.com/news/stock-market-news/asian-stocks-skittish-ahead-of-data-packedweek-japans-nikkei-falls-3350781 

 Top 5 things to watch in markets in the week ahead
==========

Investors will be looking ahead to data due out when markets are closed on Friday for the latest read on U.S. inflation. Several Federal Reserve officials, including Chair Jerome Powell, are slated to speak and their comments will be closely watched after last week’s dovish remarks by the Fed head. The U.S. is to release the core personal consumption expenditures price index, the Fed’s preferred gauge of underlying inflation when markets are closed for Good Friday. The index, which excludes food and energy costs, is forecast to rise 0.3% in February after posting its biggest monthly increase in a year the prior month. The economic calendar also features data on durable goods orders and the weekly report on initial jobless claims. Fed Chair Jerome Powell, Atlanta Fed president Raphael Bostic and Fed governors Lisa Cook and Christopher Waller are among some of the Fed officials due to make appearances during the coming week.



https://www.investing.com/news/economy/top-5-things-to-watch-in-markets-in-the-week-ahead-3350677 

 Yen flounders near four month low, Fed in spotlight
==========

The yen is near a four-month low against the US dollar and a 16-year low against the euro following the Bank of Japan's decision to end its negative interest rate policy. The central bank expects to maintain accommodative conditions, keeping pressure on the yen due to US-Japanese rate differentials. The yen weakened to a four-month low of 151.34 per dollar and was last off 0.30% at 151.28. Against the euro, the yen weakened to 164.35, its lowest since 2008. The focus is on the Federal Reserve's decision due later on Wednesday.

#Yen #UsDollar #Euro #BankOfJapan #InterestRates #FederalReserve

https://www.investing.com/news/economy/yen-flounders-near-four-month-low-fed-in-spotlight-3345149 

 FVCBankcorp director Schwartz sells over $295k in company stock
==========

Lawrence W. Schwartz, a director at FVCBankcorp, Inc., sold 24,413 shares of common stock at an average price of $12.10 per share, totaling approximately $295,397. Schwartz also acquired the same number of shares through the exercise of stock options at $5.56 per share, costing a total of $135,743. The transactions were disclosed in a regulatory filing with the Securities and Exchange Commission. The stock options were exercised on March 14, 2024, the same day the shares were sold. Following the sale, Schwartz's direct ownership in FVCBankcorp stands at 7,626 shares of common stock.

#Fvcbankcorp #StockSale #LawrenceW.Schwartz

https://www.investing.com/news/stock-market-news/fvcbankcorp-director-schwartz-sells-over-295k-in-company-stock-93CH-3342754 

 Yellen says US moving to ensure domestic EV maker success despite China's exports
==========

U.S. Treasury Secretary Janet Yellen stated that the Biden administration is taking steps to ensure the success of the domestic electric vehicle (EV) industry in the face of China's growing exports and heavy government subsidies. Yellen mentioned that President Biden has made a commitment to support the domestic industry. Currently, U.S. tariffs of 25% on all Chinese vehicles imposed by former President Donald Trump effectively keep Chinese EVs out of the U.S. market. However, China's largest producer, BYD, has started exporting to Mexico and is exploring locations for a Mexican factory.

#JanetYellen #JoeBiden #ElectricVehicles #China #Tariffs #Byd #Mexico

https://www.investing.com/news/economy/yellen-says-us-moving-to-ensure-domestic-ev-maker-success-despite-chinas-exports-3336787 

 Biden's $7.3 Trillion Budget Blueprint: A Bold Economic Overhaul for America
==========

President Joe Biden has unveiled a $7.3 trillion budget proposal aimed at reshaping the economic landscape by increasing taxes on corporations and the wealthy. The budget includes social welfare and infrastructure initiatives such as enhanced childcare support, housing development, and law enforcement funding. However, the budget faces resistance from Republicans who criticize it as an overreach in government spending. Biden's budget outlines tax reforms targeting an increase in corporate tax rates and imposing a minimum tax on the ultra-wealthy. The proposed budget is unlikely to be adopted in its current form by Congress. The budget proposal is also a strategic move to establish a contrast with Trump's economic policies, particularly in the areas of tariff increases and deregulation. The budget aims to reduce deficit spending by $3 trillion over the next decade and presents a long-term vision for the U.S. economy. Some analysts suggest that the proposed measures do not go far enough in addressing the fundamental challenges facing the U.S. economy.

#JoeBiden #BudgetProposal #EconomicOverhaul #TaxReforms #CorporateTaxRates #Wealthy #SocialWelfare #Infrastructure #Republicans #Congress #Trump #TariffIncreases #Deregulation #DeficitSpending #U.s.Economy

https://www.investing.com/news/stock-market-news/bidens-73-trillion-budget-blueprint-a-bold-economic-overhaul-for-america-3332915 

 Beware: Animal Spirits Are Running Loose Again
==========

Animal spirits are running loose in the market, with Bitcoin reaching all-time highs and NFTs selling for high prices. Investors are not focusing on macro factors such as balance sheets or earnings growth. In 1999 and 2007, animal spirits were also running loose, and it did not end well. The article discusses upcoming macro events, including US macro data and the Fed's reaction function. The US job market report showed positive outcomes, but there are concerns about the U6 underemployment rate. The article also mentions potential risks such as the Fed's shift to a 1995-style cutting cycle, the ECB's reluctance to cut rates, and the potential impact of a Bank of Japan hawkish tilt. The European economy is flat, and there are concerns about ECB policy mistakes. Japanese authorities may try to exit from negative interest rates, which could lead to capital repatriation and impact global bond and FX markets. The article concludes that while animal spirits are hard to kill, there are several macro volatility events on the horizon.



https://www.investing.com/analysis/beware-animal-spirits-are-running-loose-again-200646691 

 Powell still sees rate cuts this year, ECB enters the spotlight
==========

Federal Reserve Chair Jerome Powell stated that rate cuts may be appropriate this year, while the European Central Bank (ECB) is in focus. The US dollar has declined against major currencies, with the yen rebounding on speculation of the Bank of Japan (BoJ) exiting negative interest rates. The Canadian dollar gained after the Bank of Canada (BoC) decided to keep interest rates unchanged but expressed concerns about high underlying price pressures. The ECB is expected to maintain its current rates despite economic slowdown and inflation concerns. Wall Street rebounded and gold reached a new record high following Powell's remarks. The market is closely watching Friday's jobs data for further clarity on the timing of rate cuts. The gold rally may continue even if the dollar rebounds. The article provides market analysis and opinions on the potential impact of rate cuts and central bank decisions.

#FederalReserve #EuropeanCentralBank #RateCuts #UsDollar #Yen #BankOfJapan #CanadianDollar #BankOfCanada #WallStreet #Gold

https://www.investing.com/analysis/powell-still-sees-rate-cuts-this-year-ecb-enters-the-spotlight-200646642 

 Alibaba bolsters US economy with cross-border trade growth
==========

Alibaba, a global e-commerce giant, has supported the American economy through cross-border trade with China. According to a report commissioned by Alibaba and conducted by NDP Analytics, sales of American products on Alibaba's online marketplaces to Chinese consumers reached $66.2 billion in 2022, contributing $52.9 billion to the US GDP and supporting over 403,000 jobs. The report also highlights the role of small businesses, which generated $6.7 billion in sales on Alibaba platforms. The positive impact extends beyond direct sales, with $41.3 billion in additional output for companies in the supply chain and the support of 232,044 jobs in related industries and communities.

#Alibaba #Cross-borderTrade #UsEconomy #China #Gdp #Jobs #SmallBusinesses

https://www.investing.com/news/stock-market-news/alibaba-bolsters-us-economy-with-crossborder-trade-growth-93CH-3326267 

 Oil extends fall as China's pledge to transform economy fails to impress
==========

Oil prices fell for a second day as China's pledge to transform its economy amid stuttering growth since the COVID pandemic failed to impress investors concerned about slower consumption. China vowed to "transform" its economic development model and curb industrial overcapacity while setting an economic growth target for 2024 of around 5%. Achieving that goal should boost fuel consumption, but it will be harder to reach this year compared to 2023. China also pledged to step up the exploration and development of oil and resources but vowed to tighten control over fossil fuel consumption. The Organization of the Petroleum Exporting Countries and its allies (OPEC+) extended their voluntary oil output cuts of 2.2 million barrels per day into the second quarter. The physical oil market has started to tighten, and tensions in the Middle East have increased the time oil is unavailable to the market. U.S. crude oil inventories are expected to have increased last week, according to a preliminary Reuters poll.

#OilPrices #China #Economy #FuelConsumption #Opec+

https://www.investing.com/news/commodities-news/oil-extends-fall-as-chinas-pledge-to-transform-economy-fails-to-impress-3323941 

 US fourth-quarter economic growth revised slightly lower
==========

The U.S. economy grew at a 3.2% annualized rate in the fourth quarter of 2023, slightly lower than the previously reported 3.3% pace, according to the Commerce Department's Bureau of Economic Analysis. The downward revision was due to a downgrade in private inventory investment. Inflation was mild, but revised slightly up from previous estimates. Retail sales, housing starts, durable goods orders, and factory production declined in January, indicating a loss of momentum. Economists are not forecasting a recession. Financial markets expect the Federal Reserve to start cutting interest rates in June. Since March 2022, the Fed has raised its policy rate by 525 basis points to the current range of 5.25%-5.50%.

#UsEconomy #GdpGrowth #FederalReserve #InterestRates

https://www.investing.com/news/economy/us-fourthquarter-economic-growth-revised-slightly-lower-3318612 

 Ascent Solar modules set for NASA summer mission
==========

Ascent Solar Technologies, Inc. (NASDAQ:ASTI) has been selected to supply solar products for NASA's Lightweight Integrated Solar Array and AnTenna (LISA-T) mission. The launch is scheduled for this summer and aims to showcase the deployment of large-area arrays on small, cost-effective spacecraft. Ascent's solar modules will provide three times more power than current alternatives within the same system envelope. Ascent Solar has a market capitalization of $2.31 million USD and operates with a significant debt burden. The company's stock price movements have been volatile and it is trading near its 52-week low.

#AscentSolarTechnologies #Nasa #Lisa-tMission #SolarModules #PowerGeneration #Public-privatePartnerships #SpaceMissions

https://www.investing.com/news/stock-market-news/ascent-solar-modules-set-for-nasa-summer-mission-93CH-3315185 

 Goldman Sachs lifts 2024 S&P 500 target to 5,200 on upbeat profit outlook
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Goldman Sachs has raised its year-end target for the S&P 500 to 5,200, reflecting a 4% upside from current levels. The increase is based on an improved earnings outlook for the index companies. The brokerage previously projected the index to end 2024 at 5,100 before raising the forecast from 4,700 in December. Goldman Sachs expects an 8% profit increase for S&P 500 companies this year, driven by an improved US economic outlook and stronger mega-cap profit margins. The Magnificent 7 stocks are expected to post the strongest earnings growth among S&P 500 sectors.

#GoldmanSachs #S&p500 #EarningsOutlook #ProfitIncrease #Mega-capStocks

https://www.investing.com/news/economy/goldman-sachs-lifts-2024-sp-500-target-to-5200-on-upbeat-profit-outlook-3307212 

 German investor morale improves, rate cut hopes have 'doping effect', ZEW says
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German investor morale improved more than expected in February, with the economic sentiment index rising to 19.9 points from 15.2 points in January, beating expectations of 17.5. Over two-thirds of respondents expect the European Central Bank to make interest rate cuts in the coming six months, and nearly three-quarters are anticipating imminent rate cuts by the U.S. central bank. However, financial markets have been scaling back their bets on rate cuts as inflationary pressures linger and U.S. economic data remains mostly strong. The assessment of the economic situation in Germany fell more than expected to -81.7 points in February from -77.3 points the month before, indicating that the German economy is in a bad place. Economists disagree on what the reading foretells, with one suggesting a recession is on the way and another saying that while the assessment is low, it no longer signals a recession. The German economy contracted by 0.3% in 2023 due to persistent inflation, high energy prices, and weak foreign demand.

#GermanInvestorMorale #InterestRateCuts #Zew #EconomicSentimentIndex #EuropeanCentralBank #U.s.CentralBank #Inflation #GermanEconomy #Recession

https://www.investing.com/news/economy/german-investor-morale-improves-rate-cut-hopes-have-doping-effect-zew-says-3301903 

 Dow Jones, Nasdaq, S&P 500 weekly preview: January CPI report takes the central stage
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The Dow Jones Industrial Average (DJI) ended the week flat, while the Nasdaq Composite Index (IXIC) surged 2.3% to close in on a new record high above the 16000 mark. The S&P 500 rose 1.4% last week to deliver its first ever weekly close above the 5000 handle. The likelihood of a rate cut in March has diminished, with the market consensus now shifting towards a possible cut no sooner than May. The Consumer Price Index (CPI) inflation data for January is due and is highly anticipated as it could significantly influence the Federal Reserve's monetary policy decisions. Key economic data releases this week include updates on consumer sentiment, retail sales, and the housing market. Earnings season continues, with 67% of S&P 500 companies reporting their Q4 2023 results. The blended earnings growth rate for the S&P 500 stands at 2.9% for Q4 2023. The forward 12-month P/E ratio for the S&P 500 is currently at 20.3, which is elevated compared to historical standards. Analysts have varying views on the market, with some highlighting the favorable backdrop and others cautioning about potential risks.

#DowJones #Nasdaq #S&p500 #CpiReport #Inflation #FederalReserve #MonetaryPolicy #EconomicData #ConsumerSentiment #RetailSales #HousingMarket #EarningsSeason

https://www.investing.com/news/stock-market-news/dow-jones-nasdaq-sp-500-weekly-preview-january-cpi-report-takes-the-central-stage-432SI-3300566 

 Dollar steady, US inflation data tops this week's bill
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The dollar was steady on Monday as a holiday in most major Asian markets subdued the start of what could turn into a busy week, with all eyes on U.S. inflation data for clues on when the Federal Reserve may start to cut rates. Strong jobs data earlier this month has largely taken a March Federal Reserve rate cut off the table, with markets currently seeing a move in May as more likely than not. Analysts expect U.S. core CPI to come in at 0.3% month on month in January, but a still elevated 3.8% year on year. On Wednesday, a reading of British CPI inflation will similarly influence opinion on when the Bank of England will start to cut interest rates - it is currently seen lagging the Fed and European Central Bank.

#Dollar #UsInflation #FederalReserve #InterestRates

https://www.investing.com/news/economy/dollar-steady-us-inflation-data-tops-this-weeks-bill-3300320 

 Dollar steady, US inflation data tops this week's bill
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The dollar was steady on Monday as a holiday in most major Asian markets subdued the start of what could turn into a busy week, with all eyes on U.S. inflation data for clues on when the Federal Reserve may start to cut rates. Strong jobs data earlier this month has largely taken a March Federal Reserve rate cut off the table, with markets currently seeing a move in May as more likely than not. Analysts expect U.S. core CPI to come in at 0.3% month on month in January, but a still elevated 3.8% year on year. On Wednesday, a reading of British CPI inflation will similarly influence opinion on when the Bank of England will start to cut interest rates - it is currently seen lagging the Fed and European Central Bank.

#Dollar #UsInflation #FederalReserve #InterestRates

https://www.investing.com/news/economy/dollar-steady-us-inflation-data-tops-this-weeks-bill-3300320 

 BAT shores up US heated tobacco prospects as competition grows
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British American Tobacco (BAT) has submitted an application to market its Glo Hyper Pro device as a reduced-risk product in the United States. This is BAT's first movement in years on heated tobacco in the world's biggest market for smoking alternatives. BAT had previously applied to market Glo in the U.S. in 2021 but has yet to receive approval. Chief Executive Tadeu Marroco said that while BAT's perspective on heated tobacco in the U.S. had not changed, the company had submitted a modified risk tobacco product application for Glo Hyper Pro to the U.S. Food and Drug Administration in December. BAT's competitors, including Philip Morris International and Altria International, have plans to launch their own heated tobacco devices in the U.S. market. If BAT's application is granted, it would allow the company to make certain health claims about Glo in its U.S. marketing, such as that it is lower risk or reduces exposure to harmful chemicals compared with smoking.

#BritishAmericanTobacco #GloHyperPro #HeatedTobacco #SmokingAlternatives #UnitedStates #Reduced-riskProduct #Competition

https://www.investing.com/news/economy/bat-shores-up-us-heated-tobacco-prospects-as-competition-grows-3297326 

 Nasdaq Eyes 16K, S&P 500 Whisker Away From 5k, Dow Jones Lags Behind: What's Next?
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Major U.S. indexes are breaking new historic records, with the S&P 500 just a hair away from 5,000 points. The bull market continues, supported by a soft landing in the U.S. economy and a positive Q4 earnings season. However, potential headwinds include the potential spark of the next banking crisis and scrutiny of the commercial real estate sector. From a technical perspective, the S&P 500 is approaching the 5,000-point level, while the Nasdaq is approaching the 16,000 mark. The Dow Jones Industrial Average has not reached new highs but remains in a strong upward trend. The article also mentions the AI-powered ProPicks stock selection tool and encourages readers to subscribe.

#StockMarket #S&p500 #Nasdaq #DowJones #TechnicalAnalysis #BullMarket #BankingCrisis #CommercialRealEstate #Ai #Propicks

https://www.investing.com/analysis/nasdaq-eyes-16k-sp-500-whisker-away-from-5k-dow-jones-lags-behind-whats-next-200645892 

 Marketmind: Record S&P500 eyes 5,000, China deflated
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The S&P500 is on track to reach a record high of 5,000 points for the first time, buoyed by strong earnings and calmer bond markets. The index has risen 21% since late October, with US economic growth above 3%, unemployment below 4%, and annual profit growth above 8%. However, China's economy is facing deflationary risks, with consumer prices falling at their steepest pace in over 14 years in January. The MSCI World index of developed economy stocks hit a record high, excluding China's market. Hong Kong's Hang Seng Index fell 1.3% after Alibaba missed revenue estimates. The Federal Reserve is in a 'wait and see' mode, with futures pricing in an 80% chance of a rate cut by May. Weekly jobless claims and speeches by central bank officials will be closely watched.

#S&p500 #China #Economy #Deflation #Earnings #BondMarkets #MsciWorldIndex #HangSengIndex #Alibaba #FederalReserve #RateCut #JoblessClaims

https://www.investing.com/news/commodities-news/marketmind-record-sp500-eyes-5000-china-deflated-3297008