The selected text refers to a recent legislative change in Chile that is causing concern in the renewable energy market. The government is proposing to alter a pricing mechanism for small electricity generators, which has been a significant incentive for investment in renewable energy projects. This change is seen as a “dangerous precedent” because it could undermine investor confidence and potentially disrupt the market1.
Monday, August 26, 2024
Analysis-As US rate cuts near, economic 'soft-landing' odds could dictate stock performance
By Lewis Krauskopf
(Reuters) - With interest rate cuts virtually locked in, investors are ramping up their focus on economic data over the next few months as they game out whether the “soft landing” narrative that has helped drive U.S. stocks in 2024 can continue.
Federal Reserve Chair Jerome Powell on Friday said the “time has come” to begin lowering interest rates - a more dovish message than many investors had believed they would hear at the central bank’s annual conference in Jackson Hole, Wyoming. That process will likely begin next month, with a 25 basis-point cut at the Fed’s monetary policy meeting on Sept. 17-18.
The comments are far from an all-clear signal. With the S&P 500 up 18% on the year and equities richly valued, market participants will need to see continued evidence that the economy is gliding to a soft landing, where growth remains resilient while inflation cools.
"What the market wanted was to hear that the rate-cutting cycle is starting," said Alessio de Longis, senior portfolio manager and head of investments at Invesco Solutions.
However, “is the Fed telling us that they're actually worried about the economy now? And if that is the case, maybe the excitement about the cutting cycle should take a different perspective."
History shows that stocks tend to perform far better when rate cuts come against a background of resilient growth instead of during a sharp economic slowdown. Since 1970, the S&P 500 has climbed an average of 18% one year after the first rate cut in non-recessionary periods, according to Evercore ISI strategists. In recession periods, the index climbed an average of just 2% a year following the first cut.
In his speech, Powell said the Fed “did not seek or welcome” any further cooling in the labor market and wanted to prevent further erosion. Jobs will be in the spotlight when the U.S. publishes a closely watched employment report on Sept. 6, after weaker-than-expected labor market data at the beginning of August.
Other important upcoming data includes two monthly inflation reports: the personal consumption expenditures price index on Aug. 30 and the consumer price index on Sept. 11.
More signs of economic weakness could once again rattle stocks and shift expectations toward a 50 basis-point cut next month. Expectations for such a move were priced at around 35% on Friday afternoon, compared with about 29% before the speech, with the remaining expectations for a 25-bp cut, futures data showed.
“The Fed is easing with the economy not particularly weak (and inflation still above target), and it has the potential to ease substantially in response to any acute weakness,” wrote Rick Rieder, BlackRock’s chief investment officer of global fixed income, in a note on Friday.
Powell's signal of coming rate cuts completed a Fed shift that began in January when it acknowledged emerging job market risks, and now it has made countering those its top job.
The open question: Are a weakening job market and rising unemployment rate evidence of an economy settling into a healthy place of steady growth with little upside risk to the jobless rate or part of a slide that will gather speed?
The answer will appear in upcoming employment reports and shape how far and fast the Fed will have to cut rates to prevent what Powell called an "unwelcome further weakening in labor market conditions."
"We do not seek or welcome further cooling in labor market conditions," Powell said, remarks that seemed to set the current 4.3% unemployment rate as a level he would like to defend as he made the sour admission that "conditions are now less tight than those that prevailed before the pandemic."
The jobless rate was 4.1% and falling when Powell became chair in 2018, falling as low as 3.5% in 2019 without raising inflation concerns - conditions Powell said he hoped he could recreate after COVID-19 threw the economy into a tailspin.
Today's Fed rate of 5.25%-5.50% is seen as restricting the economy and putting jobs at risk and is well above officials' median estimate of 2.8% for the longer-term "neutral" rate. Assuming inflation continues ebbing towards the Fed's 2% target, job market changes will determine how fast officials head toward that neutral level and whether they need to go even lower to restore full employment.
Powell's signal of coming rate cuts completed a Fed shift that began in January when it acknowledged emerging job market risks, and now it has made countering those its top job.
The open question: Are a weakening job market and rising unemployment rate evidence of an economy settling into a healthy place of steady growth with little upside risk to the jobless rate or part of a slide that will gather speed?
The answer will appear in upcoming employment reports and shape how far and fast the Fed will have to cut rates to prevent what Powell called an "unwelcome further weakening in labor market conditions."
"We do not seek or welcome further cooling in labor market conditions," Powell said, remarks that seemed to set the current 4.3% unemployment rate as a level he would like to defend as he made the sour admission that "conditions are now less tight than those that prevailed before the pandemic."
The jobless rate was 4.1% and falling when Powell became chair in 2018, falling as low as 3.5% in 2019 without raising inflation concerns - conditions Powell said he hoped he could recreate after COVID-19 threw the economy into a tailspin.
Today's Fed rate of 5.25%-5.50% is seen as restricting the economy and putting jobs at risk and is well above officials' median estimate of 2.8% for the longer-term "neutral" rate. Assuming inflation continues ebbing towards the Fed's 2% target, job market changes will determine how fast officials head toward that neutral level and whether they need to go even lower to restore full employment.
Four US presidents never had a vice president.
A president without a vice president is like a captain without a first mate, but some U.S. presidents — four, to be precise — have nevertheless had to serve without one. They were John Tyler (1841-1845), Millard Fillmore (1850-1853), Andrew Johnson (1865-1869), and Chester A. Arthur (1881-1885), all of whom ascended to the presidency when their predecessors died in office. Because the 25th Amendment didn’t lay out an official process for naming a new VP in such an event until 1967, those four commanders in chief simply went without one. All four failed to win reelection; some even failed to secure their party’s nomination and therefore never had the chance to select a running mate.
72 Car Safety Tips For Drivers Of All Ages & Stages
Whether you’re just dropping the kids off at school or you have a 2-hour daily commute, you’ll find tips that apply to your driving situation. Read on to learn everything from car seat safety guidelines to defensive driving techniques to critical vehicle maintenance safety tips that can save you money and perhaps even save your life!
Child Car Seat Safety Tips
1. A 2017 study found 325 children under the age of 5 were saved by car seats. Always use a car seat to keep young children safe. Check out the NHTSA’s recommendations to find the right car seat for your young passenger.
Anthony Fauci, former top US disease expert, recovering from West Nile virus, media reports
Anthony Fauci, former top US disease expert, recovering from West Nile virus, media reports
Former top U.S. infectious disease expert Dr. Anthony Fauci is recovering from West Nile virus after being hospitalized with the mosquito-borne illness for nearly a week, he told Stat News on Saturday.
Fauci, 83, became the face of the U.S. government's efforts to contain the COVID-19 pandemic in 2020. He retired in December 2022 after 54 years at the U.S. National Institutes of Health (NIH) including 38 serving as director of the National Institute of Allergy and Infectious Diseases (NIAID).
In an interview with Stat News on Saturday, Fauci said he had spent six days in a hospital starting Aug. 16 while doctors tried to discern the source of his weakness, fever and chills. He then tested positive for West Nile virus, and he told the digital news outlet: "I've never been as sick in my life."
Reuters could not immediately reach him for comment.
The virus is spread by infected mosquitoes. There were about 2,500 cases reported in the U.S. last year and 182 deaths from the disease, according to the U.S. Centers for Disease Control and Prevention (CDC). There are no specific treatments or vaccine for the disease.
Fauci said he expects to make a full recovery although it may take several weeks for him to return to normal, Stat reported.
(Reporting by Gabriella Borter; Editing by David Gregorio)
Reuters
Fudge has been recalled from TJX Companies’
Fudge has been recalled from TJX Companies’ off-price clothes and goods chains Marshalls and T.J. Maxx for “potential mold-growth contamination,” according to the manufacturer. That’s in the FDA-posted recall alert for Montreal Fudge from Canada’s Authentik Fudge, based in Sainte-Julie, Quebec province.
Loneliness epidemic, health concerns grow as global survey shows widespread loneliness
Loneliness epidemic, health concerns grow as global survey shows widespread loneliness
Almost a quarter of the world's people feel lonely, according to US survey organization Gallup, whose pollsters warned of "serious physical and mental effects" as a result.
In Gallup's first global survey on this subject 23% of participants said they felt lonely "a lot of the day yesterday" and were in turn 36 percentage points more likely to "experience sadness" than others and 20 points more likely to feel angry.
Lonely people were 26 percentage points more likely to report being angry or be suffering from physical pain than others and were 31 and 30 points more likely to be worried and feel stressed.
Levels of loneliness varied across countries and age groups, with the over-50s more likely in general to report such feelings, but much less likely in China and the US, where younger adults appear to be lonelier than their elders.
The world's least lonely people are in Estonia, Vietnam, Kosovo and Kazakhstan, where only 1 in 10 reported feeling that way, with Iceland, Poland, Slovenia and Taiwan next best at 11%.
The findings come despite decades of technological advances, such as social media, which can help people to stay in touch with each other to a degree arguably unprecedented in human history.
However there have been indications that phone addiction and endless scrolling through messages and apps are contributing to unhappiness and mental health issues.
In 2023, US Surgeon General Vivek Murthy flagged "increasing concerns" that social media was harming young users.
The same year, Murthy warned of a wider "loneliness epidemic" in the US that was putting people at greater risk of cardiovascular disease, dementia, stroke, depression, anxiety and premature death. In late 2023, the World Health Organization (WHO) listed loneliness as a health concern.
Demographic and social changes in wealthy countries have, according to some studies, contributed to loneliness, with family sizes shrinking and older people increasingly likely to be put in care or nursing homes rather than be looked after in their dotage by family.
Harvard University doctors last month published research showing over-50s who "experienced chronic loneliness" were 56% more likely to get a stroke than other people of similar age.
Robot "companions" for lonely old people have been rolled out in countries such as Japan, South Korea and the US.
Last year the journal Science Robotics published a paper suggesting artificial intelligence bots could be added to such robots to enable them to 'chat' to their isolated owners.
Around the same time, however, a survey of workers in four countries found that those who used AI while on the job were more likely than others to be lonely and to have trouble sleeping
Musk's Neuralink says second trial implant went well, no thread retraction issue
Musk's Neuralink says second trial implant went well, no thread retraction issue
Elon Musk's brain technology startup Neuralink said its implant, designed to allow paralyzed patients to use digital devices by thinking alone, is working well in a second trial patient.
The company said the patient, identified as Alex, did not face issues of "thread retraction", unlike Noland Arbaugh, Neuralink's first patient who received the implant in January.
The tiny wires of the implant retracted post surgery for Arbaugh, resulting in a sharp reduction in the electrodes that could measure brain signals. The threads have stabilized for Arbaugh, Neuralink said.
Reuters had reported Neuralink was aware of this issue from its animal trials.
The company said on Wednesday it implemented measures such as reduction in the motion of the brain during surgery as well as limiting the gap between the implant and the surface of the brain to prevent similar issues in its second patient.
Neuralink is in the process of testing its device, which is intended to help people with spinal cord injuries. The device has allowed the first patient to play video games, browse the internet, post on social media and move a cursor on his laptop.
Last month, the company successfully implanted the device in the second patient, who has been using the device to play video games and learn how to design 3D objects.
(Reporting by Christy Santhosh in Bengaluru; Editing by Arun Koyyur)
Reuters
Sugar allergy?
Could it be a sugar allergy?
Many people probably don't think about it, but it's possible for a person to be allergic to sugar. If you see these signs after you consume sugar, especially if it's refined sugar, or sucrose, you may have an actual allergy.
Headaches
Depression
Anger
Skin rash similar to hives
Some Facts about Sugar
Refined sugar comes from the sugar cane plant. There are also naturally-occurring sugars found in fruits and some vegetables. There is even a form of sugar in milk, called lactose. It's the substance responsible for the milk intolerance seen in many adults. There is a big difference between the sucrose, or refined sugar you spoon into your coffee and the fructose, or fruit sugar, found in an apple. Fructose doesn't cause the insulin sugar spike that sucrose does, and also, that apple contains lots of fiber and other nutrients that affect the way your body will metabolize the sugar present in an apple or other type of natural fruit.
What is an Insulin Spike?
Insulin spike is caused by the consumption of refined sugar and foods with what is called a high glycemic index. This would include white rice and white potatoes. Foods with a high glycemic index, while not sweet themselves, will still break down once within the body into simple sugars. Simple sugars are quickly absorbed by the body and then trigger the pancreas to release insulin to metabolize them. When the insulin has metabolized all the sugar, the person can feel tired, and crave more sugar. It's a vicious circle.
Avoid Refined Sugar
If you notice the above symptoms after you eat sugar, especially processed foods with refined sugar, such as baked goods and ice cream and similar foods, you need to change your diet to eliminate refined sugar as much as possible. If you have a sugar allergy, you may also notice that you have a lot of gastric disturbance. This is because the sugar can act as a kind of food for bacteria present in your intestines, causing gas and bloating. The skin rash is an allergic response just like one produced by any other allergen. Headaches are known to be caused by tanking blood sugar levels.
Adjust your diet to avoid refined sugar. This isn't to say that you should avoid all sugar, but you should avoid refined sugars and sugars found in processed foods as much as possible. We have already seen that fruits and vegetables, although they contain sugar, are still healthy foods that offer fiber and vitamins. Moderate consumption is fine. Learn to read package labels, too, as there are a lot of hidden sugars in all kinds of foods.
Healthy Eating
Don't run out of the house in the morning without breakfast or with just a cup of sugared coffee. You need to eat something healthy in the morning. After fasting all night, your blood sugar will be lower. Whole wheat toast would be a good choice here. The whole grain will metabolize slowly to provide your body with energy without an insulin spike. Never eat white bread as it contains sugar and white flour, which is nearly devoid of nutrients. You will need to educate yourself on how to begin a regimen of healthy eating, but you will be glad you did when your symptoms go away and you feel better.
Consuming arsenic in food can have serious health effects, depending on the amount and duration of exposure:
Consuming arsenic in food can have serious health effects, depending on the amount and duration of exposure:
Short-term exposure: Ingesting large amounts of arsenic can cause symptoms similar to food poisoning, such as abdominal pain, nausea, vomiting, and diarrhea. Severe cases can lead to bloody diarrhea, fluid loss, and hypovolemic shock1.
Long-term exposure: Chronic exposure to lower levels of arsenic can lead to more serious health issues, including an increased risk of heart disease, diabetes, and certain cancers. It can also cause skin changes, such as darkening and the appearance of small “corns” or “warts” on the palms, soles, and torso23.
Other effects: Arsenic can decrease the production of red and white blood cells, cause abnormal heart rhythms, damage blood vessels, and create a pins-and-needles sensation in the hands and feet3.
If you have any concerns about arsenic in your diet, it’s a good idea to consult with a healthcare professional. They can provide personalized advice and help you manage your exposure
FDA warning: Arsenic found in apple juice
FDA warning: Arsenic found in apple juice
The U.S. Food and Drug Administration updated an apple juice recall with a more urgent classification after making its original announcement Aug. 15. The new classification said the affected product may temporarily cause adverse health consequences due to elevated levels of arsenic.
Walmart recalls apple juice sold in multiple states over high arsenic levels (msn.com)
Product Description:
Great Value; 8oz Apple Juice in 6 pack; 100% Juice; packaged in 8 oz. PET plastic bottles; UPC 0-78742-29655-5
Reason for Recall:
Product contains inorganic arsenic above action level set in industry guidance (13.2ppb)
Product Quantity: 9535 cases
Recall Number: F-1746-2024
Code Information: Best if Used by DEC2824 CT89-6
Classification: Updated Class II
Event Details
Event ID: 95170
Voluntary / Mandated: Voluntary: Firm initiated
Product Type: Food
Status: Ongoing
Distribution Pattern:
Retail locations in: AL, CT, DC, DE, FL, GA, IL, IN, KY, MA, MD, ME, MI, MS, NC, NH, NJ, NY, OH, PA, PR, RI, SC, TN, VA, VT, WV
Recalling Firm:
Refresco Beverages US Inc
8112 Woodlnd Ctr Blvd
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