Over the last 11 months, the S & P 500 ‘s advance has been compared to various bull markets of the past: 2021, 2019, 2017, 2009, 1995-1999, etc. One year that hasn’t come up is 2022. Why would it? That was a harsh bear market, characterized by lower lows, raging inflation and historic rate hikes. That’s the complete opposite of now: the S & P 500 has been making higher highs, inflation has materially dropped from its peak and we’re about to get our first rate cut. However, under the surface, something has been happening that we haven’t seen in…
Author: usaeverydaylife
Cooper Union’s Foundational Building, left, and 41 Cooper Square facility, right, in New York’s Greenwich Village.Image source: Mario MorgadoIn a move years in the making, the Cooper Union for the Advancement of Science announced Tuesday a return to full-tuition scholarships for all graduating seniors.The New York City-based private college, founded in 1859, had long been tuition-free for all grade levels. But in 2014 it dialed back its longtime commitment that education be “as free as air and water” and began offering students only half-tuition scholarships.A few years later, the school presented a 10-year plan to restore full-tuition scholarships through saving,…
LONDON, UNITED KINGDOM – 2020/07/16: Storefront of the Burberry store in the prestigious New Bond Street. (Photo by Dave Rushen/SOPA Images/LightRocket via Getty Images)Sopa Images | Lightrocket | Getty ImagesLONDON — British luxury fashion house Burberry Group dropped out of the U.K.’s FTSE 100 stock market index on Wednesday, as waning sales and a slew of management changes have added to the mounting pressures facing the 168-year-old retailer.The company slipped into the FTSE 250 during September’s quarterly rebalancing, index provider FTSE Russell said in a statement, bringing its 15-year run in the U.K. large-cap FTSE 100 blue chip index to…
Ilya Sutskever, co-founder and chief scientist of OpenAI, speaks at Tel Aviv University in Tel Aviv, Israel, June 5, 2023.Jack Guez | AFP | Getty ImagesOpenAI co-founder Ilya Sutskever, who left the artificial intelligence startup in May, has raised $1 billion from investors for his new AI company, Safe Superintelligence, or SSI.The company announced in a post on X that investors included Andreessen Horowitz, Sequoia Capital, DST Global and SV Angel, as well as NFDG, an investment partnership co-run by SSI executive Daniel Gross.”We will pursue safe superintelligence in a straight shot, with one focus, one goal, and one product,” Sutskever wrote on…
NEW YORK — There are some nights when Frances Tiafoe turns Arthur Ashe Stadium into a rocking house party. His house. His music thumping from the loudspeakers. Nearly 24,000 friends, cousins, kings, queens, stars of the silver screen and hardwood, and of course an all-time tennis great or half a dozen. All of them bounce to his beat, shaking every level of the big tennis court by Flushing Bay. Tuesday night on Ashe was something else. Not better or worse, especially with Tiafoe rolling into the first all-American U.S. Open semifinal since 2005, when Andre Agassi defeated Robby Ginepri. The same party…
Critical chip equipment supplier ASML is set to face softer demand from buyers of its products in the coming years — and the artificial intelligence boom won’t be enough to offset these downside risks, according to analysts at investment bank UBS . In a fresh research note, UBS downgraded ASML to “neutral” and cut its price target on the stock to 900 euros ($997.16) from 1,050 euros previously, stating that it expects to see a “plateau in litho intensity,” or the percentage of cost associated with lithography tools versus other wafer fabrication equipment tools, in both logic and memory chips. Part…
Check out the companies making headlines in midday trading: Dollar Tree — Shares tumbled 20% after the discount retailer slashed its full-year outlook for net sales and adjusted earnings per share. Dollar Tree cited increasing pressures on middle- and higher-income customers. GitLab — The software developer’s stock soared 17% thanks to a strong third-quarter earnings outlook. The company forecasts earnings per share of 15 cents to 16 cents for the period, above the 11 cents that analysts surveyed by LSEG had estimated. GitLab’s full-year sales outlook also came in above expectations. Zscaler — The stock lost 18% after the cloud…
All eyes are on the August jobs report this week. The non-farm payrolls data coming out Friday could confirm for investors whether July’s disappointing report — which helped bring about the Aug. 5th market storm — was a one-off, or a cause for greater concern. Of course, the upcoming jobs report is expected to be a stronger one than the last. Economists polled by Dow Jones are forecasting the U.S. economy to have added 161,000 jobs in August, up from 114,000 in July. The unemployment rate is expected to have eased back to 4.2%, from 4.3%. But a miss has…
Coors beer is displayed on a store shelf on February 13, 2024 in San Rafael, California. Justin Sullivan | Getty ImagesMolson Coors is the latest addition to a growing list of companies reversing their diversity, equity and inclusion policies.In an internal memo sent Wednesday and obtained by CNBC, Molson Coors executives said the company will be getting rid of supplier diversity quotas, adding that they can be “complicated and influenced by factors outside of [the company’s] control.”But the brewer has said that it will continue to make sure its suppliers are representative of the company’s diverse consumer base.”We are ensuring our…
Anthropic on Wednesday rolled out Claude Enterprise, its biggest new product since its chatbot’s debut and a step up for businesses looking to integrate Anthropic’s artificial intelligence.The Amazon-backed AI startup, founded by former OpenAI research executives, is the company behind Claude — one of the chatbots that, like OpenAI’s ChatGPT and Google’s Gemini, has exploded in popularity in recent years.Since Anthropic released the first version of its chatbot Claude in March 2023, without any consumer access or major fanfare, it’s become one of the hottest AI startups, with backers including Google, Salesforce and Amazon, and a product that directly competes with ChatGPT in both…
