Investor’s Business Daily (July 19)
“Magnificent Seven stocks dumped more than $1.3 trillion in market value in a week…. Former do-no-wrong AI company Nvidia (NVDA) is the No. 1 culprit” behind the “epic implosion.” Shares in Nvidia “have plunged more than 11% from July 10. That effectively wiped out more than $417.3 billion in shareholders’ wealth — or roughly a third — of the Mag 7’s dollar-value loss in that time.”
Tags: $1.3 trillion, AI, Culprit, Epic implosion, Magnificent Seven, Market value, Nvidia, Plunged, Shareholders, Stocks, Wealth
Investment Week (July 19)
“UK retail sales volumes dropped by 1.2% in June,” marking a reversal of May’s stronger figures. Retailers are blaming “election uncertainty, along with poor weather and low footfall.” On the plus side, however, “falling UK wage growth boosts chances of August rate cut across most sectors.”
Tags: Election uncertainty, Footfall, June, May, Poor weather, Rate cut, Retail sales, Retailers, Reversal, UK, Volumes, Wage growth
CNN (July 19)
“Computers and tech systems around the world went down Friday.” The ensuing “chaos” was brought about by “a single cybersecurity company.” While “software updates are a critical function in society to keep computers protected from hackers,” it is absolutely “crucial” to get the process “right” and “safeguard” it from potential tampering. On Friday, our “trust in that process was punctured.”
Tags: Chaos, Computers, Critical, Cybersecurity, Hackers, Protected, Safeguard, Society, Software updates, Tampering, Tech systems
Wall Street Journal (July 17)
“A clearer outlook on interest rates is giving bankers hope that dealmaking is emerging from a two-year slowdown.” Though up about 8% from a year ago, Q2 global M&A volumes “are still below those of the deal boom coming out of the pandemic,” with M&A activity “unlikely to kick into full gear until interest rates come down.”
Tags: 8%, Bankers, Boom, Clearer, Dealmaking, Emerging, Interest rates, M&A, Outlook, Pandemic, Q2, Slowdown
The Guardian (July 16)
“What the world needs is a period of stability after the repeated blows of recent years.” But that’s unlikely if Donald Trump prevails in November. “Anybody wondering what the next big economic shock might be… need look no further than the frontrunner to be in charge of the world’s biggest economy in six months’ time.”
Tags: Blows, Economic shock, Economy, Frontrunner, November, Prevails, Stability, Trump, World, World's biggest
Forbes (July 16)
“A double-barreled system of heat waves toppled daily record high temperatures across California, Arizona, Nevada and the Pacific Northwest, as well as some records in the Northeast over the past week, as more than 2,500 municipalities saw their daily heat records matched or broken—and more records are expected to fall as heat advisories remain in effect throughout the East Coast and the South.”
Tags: 2%, 500 municipalities, Arizona, California, Heat waves, High temperatures, Nevada, Northeast, Pacific Northwest, Record, Toppled
Straits Times (July 15)
“Thailand’s decades-long manufacturing-driven economic model is broken.” The nation “has witnessed nearly 2,000 factory closures in the last year, upending its manufacturing sector that contributes nearly a quarter of its gross domestic product (GDP).” The main drivers appear to be “cheap imports from China and a slide in industrial competitiveness due to factors including rising energy prices and an ageing workforce.”
Tags: Ageing workforce, Broken, Cheap imports, China, Economic model, Energy prices, Factory closures, GDP, Industrial competitiveness, Manufacturing, Thailand
Bloomberg (July 13)
“Bond traders are ramping up bets that the Federal Reserve will cut interest rates by half a percentage point in September instead of the standard quarter-point increment.”
Tags: 50 bp, Bets, Bond traders, Cut, Federal Reserve, Interest rates, Ramping up, September, Standard
Reuters (July 12)
“For Wall Street, the coming White House race, which currently pits Biden against former President Donald Trump, offers a singularly unappetizing menu. November’s election will present voters with a choice between two possible administrations, neither of which looks much like the moderate, business-friendly centrism under which the financial sector tends to thrive. It’s an unenviable choice.”
Tags: Biden, Business-friendly, Centrism, Election, Financial sector, Moderate, Thrive, Trump, Unappetizing, Voters, Wall Street, White House
The Guardian (July 11)
“China has 180 gigawatts (GW) of utility-scale solar power under construction and 15GW of wind power. That brings the total of wind and solar power under construction to 339GW, well ahead of the 40GW under construction in the US.”
Tags: 180 GW, 339GW, 40GW, China, Construction, Solar power, U.S., Utility, Wind power
