MARKETS: 'Chicken Littles' are going to get destroyed in September

Reuters
Microsoft's AI lead puts Amazon cloud dominance on watch
Upcoming quarterly reports from U.S. tech giants may show Microsoft is closing the gap on cloud-computing market leader Amazon.com as more businesses switch to its services, attracted by a clutch of generative AI features that are powered by OpenAI's technology. The Redmond, Washington-based software giant has beaten rivals Amazon and Google-parent Alphabet to the market with AI services including the Copilot, a set of genAI tools that work in Microsoft's business apps, that was rolled out in November for $30 a month. Its earnings on Thursday will be an indicator of AI adoption and could influence the movement of technology stocks as a rally in the sector eases this month amid worries that interest rates in the U.S. could stay high for longer.
13m ago
Associated Press
A blast near a ship off Yemen may mark a new attack by Houthi rebels after a recent lull
A ship near the strategic Bab el-Mandeb Strait saw an explosion in the distance Wednesday, marking what may be a new attack by Yemen's Houthi rebels through the crucial waterway for international trade. The explosion, reported by the British military's United Kingdom Maritime Trade Operations center, comes after a relative lull from the Houthis after they launched dozens of attacks on shipping in the region over Israel's ongoing war on Hamas in the Gaza Strip. The Houthis did not immediately claim responsibility for the blast, but suspicion fell on the group as they've repeatedly targeted ships in the same area.
13m ago
NBC News
New federal rule to guarantee hassle-free airline cash refunds, administration says
A federal rule announced Wednesday will require airlines to quickly give cash refunds — without lengthy arguments — to passengers whose flights have been canceled or seriously delayed, the Biden administration said.
16m ago
CBS News
At least 4 people injured as military horses run loose in central London
Two runaway military horses bolted through central London, leaving at least 4 people and the animals injured, officials said.
19m ago
AFP
EU lawmakers agree to exit energy treaty over climate fears
The European Parliament on Wednesday backed the EU's withdrawal from an international energy treaty over concerns it offers too much protection to fossil fuel companies.But the European Commission, the EU's executive arm, said in July it was necessary to withdraw from the treaty in a coordinated manner since it is "no longer compatible" with the bloc's "enhanced climate ambition".
21m ago
Yahoo Finance
Boeing beats on earnings after tumultuous quarter headlined by 737 Max crisis
Boeing is expected to report first quarter earnings before the bell on Wednesday, following a quarter that could be called rocky to say the least.
21m ago
Associated Press
Slovakia's government approves controversial overhaul of public broadcasting
Slovakia’s government on Wednesday approved a controversial overhaul of the country's public radio and television services, a move that critics say would result in the government taking full control of the media. Populist Prime Minister Robert Fico said the changes are needed because the public broadcaster, known as RTVS, is politically biased and “is in conflict with the Slovak government.” The Parliament, where the Fico’s coalition government has a majority, is expected to approve the changes in June.
25m ago
Associated Press
Boeing posts a $355 million loss as the plane maker tries to dig out from under its latest crisis
Boeing said Wednesday that it lost $355 million on falling revenue in the first quarter, another sign of the crisis gripping the aircraft manufacturer as it faces increasing scrutiny over the safety of its planes and accusations of shoddy work from a growing number of whistleblowers. Boeing's CEO said the company is in “a tough moment,” and its focus is on fixing its manufacturing issues, not the financial results. Company executives have been forced to talk more about safety and less about finances since a door plug blew out of a Boeing 737 Max during an Alaska Airlines flight in January, leaving a gaping hole in the plane.
26m ago
AFP
EU opens probe into China's medical device market
The European Union on Wednesday announced a probe into China's medical devices market, prompting an immediate accusation from Beijing that the bloc was engaging in "protectionism".China's medical devices market is the second largest after the United States, worth around 135 billion euros in 2022 ($145 billion), according to a 2023 report by China-focused think tank MERICS. The EU probe is the first under the bloc's International Procurement Instrument which seeks to promote reciprocity in access
32m ago
CNN
The extraordinary and ancient secret places hidden under Turkey
Turkey is rich with ancient wonders, and many of these are hidden below the surface, often only being discovered after centuries of being buried and forgotten.
39m ago
AFP
Israel pummels Gaza after US Congress approves military aid
Israel pounded Gaza with air strikes and artillery fire in its war against Hamas on Wednesday after the US Congress approved $13 billion in military aid.Early Wednesday, hospital and security sources in Gaza reported Israeli air strikes in Rafah, as well as the central Nuseirat refugee camp.
40m ago
Time
How to Be More Intuitive
Emma Seppälä writes about intuition, the gut feeling you probably ignore—but shouldn't.
41m ago
NBC News
Orphaned by an airstrike and saved from her dead mother’s womb, baby Sabreen brings hope to a Gaza family
Sabreen Alrouh Jouda was born an orphan in Gaza after her mother died in an Israeli airstrike. A posthumous c-section rescued her from her mother’s body.
42m ago
AFP
Russian deputy defence minister held over bribery accusations
A Russian deputy defence minister exposed in an investigation by late opposition leader Alexei Navalny's team was remanded in custody Wednesday on suspicion of taking large bribes.He faces up to 15 years in prison for bribe-taking "on a particularly large scale", it added.
47m ago
Associated Press
Surging auto insurance rates squeeze drivers, fuel inflation
Relentlessly rising auto insurance rates are squeezing car owners and stoking inflation. Auto insurance rates rose 2.6% in March and are up 22% from a year ago. Premium costs have been marching steadily higher since 2022, even as inflation at the consumer level steadily cooled from its 9.1% peak in the middle of that year.
47m ago
Reuters
How the West might use Russia's frozen reserves to help Ukraine
LONDON (Reuters) -The G7 group of nations are looking to use nearly $300 billion worth of Russian financial assets frozen by sanctions since 2022 to help support Ukraine, but how it will be done remains highly complex given it would set a controversial precedent. Washington continues to back the idea of seizing the immobilised Russian reserves in their entirety and handing them to Ukraine. Some top lawyers argue it can be done under a doctrine of international law known as "countermeasures".
49m ago
Associated Press
Cisco Systems joins Microsoft, IBM in Vatican pledge to ensure ethical use and development of AI
Tech giant Cisco Systems on Wednesday joined Microsoft and IBM in signing onto a Vatican-sponsored pledge to ensure artificial intelligence is developed and used ethically and to benefit the common good. Cisco Systems chief executive Chuck Robbins signed the document, known as the Rome Call, and met privately with Pope Francis, the Vatican said. The document was unveiled and signed at a Vatican conference on Feb. 28, 2020 — just before Italy locked down as a result of the COVID-19 pandemic — by Microsoft’s Brad Smith and IBM’s John Kelly III. Universities, U.N. agencies, private corporations and nongovernmental organizations have signed on as well.
52m ago
Yahoo Finance
Stock market today: Nasdaq futures pop, Tesla surges after earnings with more heavyweights on deck
Tesla's surge is putting Big Tech earnings center stage as investors look to megacaps to lift stocks.
53m ago
Yahoo Finance
A new law could ban TikTok in 2025. Here's what happens next.
The Senate advanced a landmark bill that gives China's ByteDance up to one year to divest TikTok or face a US ban on the app. The next stop is the desk of President Biden, who has promised to sign it.
57m ago
Reuters
Thermo Fisher lifts profit forecast as medical equipment demand improves
The medical equipment maker in January signaled that muted demand for its services used in the making of therapies and vaccines will extend at least into the first half of the year, but could pick up later. The Waltham, Massachusetts-based firm said it now expects annual adjusted profit of $21.14 to $22.02 per share, compared with its previous forecast of $20.95 to $22 per share. Analysts had estimated a profit of $21.53 per share for 2024, according to LSEG data.
1h ago

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