Michael Hartnett, a strategist at the Bank of America, is warning investors that the current market rally may not last long and could be followed by a large decline. The S&P 500 has risen by over 15 percent year-to-date as of June 16. Recently, the index rose 20 percent above its low hit on Oct….
‘Big Rally’ Before ‘Big Collapse’: BofA Strategist Does Not See a Bull Market
Is Mr. Bean Right About EVs?
June 17, 2023
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AustraliaBusiness & Marketseconomic policiesenergyInternationalmr beanOpinionrowan atkinsonUKViewpointsWorld
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Commentary Rowan Atkinson or as many of us know him: “The guy who played Mr. Bean,” has more experience with EVs than most. As an avid car owner and enthusiast, an early adopter of electric vehicles, and having previously studied electrical and electronic engineering (before his entirely unrelated career in entertainment), he surely has an…
Stock Market Today: Wall Street Slips, and Its Best Week Since March Comes to a Quiet Close
NEW YORK—Wall Street closed out its best week since March with a quiet finish on Friday, and stocks drifted to modest losses. The S&P 500 fell 16.25 points, or 0.4 percent, to 4,409.59 after wobbling through the day. It still closed out a fifth straight winning week for its longest such streak since November 2021,…
Closing Prices for Crude Oil, Gold, and Other Commodities (June 16)
June 16, 2023
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Benchmark U.S. crude oil for July delivery rose $1.16 to $71.78 a barrel Friday. Brent crude for August delivery rose 94 cents to $76.61 a barrel. Wholesale gasoline for July delivery rose 4 cents $2.68 a gallon. July heating oil rose 7 cents to $2.55 a gallon. July natural gas rose 10 cents to $2.63…
How Major US Stock Indexes Fared June 16
Wall Street closed out its best week since March on a quiet note. The S&P 500 fell 0.4 percent Friday after wobbling up and down through the day. The benchmark index still marked its fifth straight winning week, its longest such streak since November 2021. It’s also near its highest level since April 2022. The…
Democrats Warn That Congress Is Still Heading Toward a Shutdown Despite Agreement on Budget
June 16, 2023
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Democrats warn that Congress is still facing the threat of a shutdown at the end of the year, despite an agreement on the Federal budget. The agreement earlier this month between House Republicans and the Democrats was supposed to create a bipartisan framework for annual spending bills that would take a government shutdown off the…
Michael Jordan Selling Majority Ownership of Charlotte Hornets
Former basketball star Michael Jordan has reached a deal to sell his majority share of the Charlotte Hornets to an investment group led by Gabe Plotkin and Rick Schnall, the franchise announced Friday. In a press release, the NBA confirmed Jordan will keep a minority ownership stake with the Hornets once the transfer is completed….
Chinese Leader Xi Jinping Meets With Bill Gates Ahead of Blinken Visit
June 16, 2023
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Bill GatesBusiness & MarketsChinaChina NewsChinese RegimeCompaniesMedia & Big TechmeetingTechTech NewstechnologyUSUS NewsUS-China relationsXi Jinping
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BEIJING—Chinese leader Xi Jinping on Friday met with Microsoft Corp. co-founder Bill Gates in Beijing ahead of a visit by U.S. Secretary of State Antony Blinken at a time of strained relations. The state broadcaster CCTV showed Xi saying he was happy to see Gates, who he called an “old friend,” after three years without…
Business Sector Disappointed With South Australia’s Budget
Unions have applauded South Australia’s big spending budget, but the business sector has lamented the lack of support for local companies and traders amid a cost-of-living crisis. SA Treasurer Stephen Mullighan described the Labor government’s budget delivered on Thursday as “the largest package of cost-of-living relief measures ever deployed in South Australia”. The budget focused…
Meta’s Facebook, Instagram Down for Thousands of Users, Says Downdetector
Meta Platforms on Friday said it was aware of issues with its Ads Manager, its advertising tool that lets brands buy and create Facebook ads. “Our engineering teams are aware and are actively looking to resolve the issue as quickly as possible,” Meta said on its status page. The status update came just after thousands…
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