Elon Musk says he doesn’t plan to donate to GOP super PACs

Elon Musk says he doesn’t plan to donate to GOP super PACs

Billionaire entrepreneur Elon Musk says he has no current plans to fund a Republican super PAC in the upcoming US elections, including any who oppose President Joe Biden in 2024. The Tesla and SpaceX CEO, who is listed by Forbes as the wealthiest person in the world, told CNBC in an email that he’s ruled … Read more

US economy could be heading to recession in next year, banks and economists say

Placeholder while article actions load The US economy could be heading for a recession in the next year, according to growing warnings from banks and economists, as a sudden bout of economic pessimism hammered financial markets that had been counting on sustained economic momentum. Although major swaths of the economy — including the job market … Read more

2 vulnerabilities with 9.8 severity ratings are under exploit. A 3rd looms

Getty Images Malicious hackers, some believed to be state-backed, are actively exploiting two unrelated vulnerabilities—both with severity ratings of 9.8 out of a possible 10—in hopes of infecting sensitive enterprise networks with backdoors, botnet software, and other forms of malware. The ongoing attacks target unpatched versions of multiple product lines from VMware and of BIG-IP … Read more

Dow Jones Futures Fall After Target Triggers Sell-Off; Market Rally Has 90% Chance Of Doing This

Dow Jones futures fell modestly overnight, along with S&P 500 futures and Nasdaq futures, amid weak revenue and guidance from Cisco Systems. The stock market rally sold off hard Wednesday, as a big Target (TGT) earnings miss raised major concerns about retailers, related sectors and the broader economy amid hot inflation and weakening demand. X … Read more

What Walmart, Target, Home Depot and Lowe’s tell us about the economy

How well is the American consumer holding up against sky-high inflation? It depends on whom you ask. Four major retailers — Walmart, Target, Home Depot and Lowe’s — reported quarterly financial results this week, and they each offered a different perspective on where and how people are spending their money. Walmart said some of its … Read more

Retail Stocks: Target Stock Dives On Big Miss After Walmart Earnings Fall Well Short

Target (TGT) reported first-quarter earnings that came in well below Wall Street estimates, a day after archrival Walmart (WMT) also came in well shy of EPS targets. Target stock plunged early Wednesday. WMT stock, which tumbled Tuesday, fell further before the open. X Target Earnings Estimate: Analysts expected Target to earn $3.07 per share, a … Read more

Dow Jones Futures: Stock Market Rally Shows Bullish Action; Broadcom Flashes Buy Signal

Dow Jones futures fell slightly overnight, along with S&P 500 futures and Nasdaq futures. The new stock market rally had strong gains Wednesday amid several bullish factors. Fed chief Jerome Powell said policymakers need to see “clear and convincing evidence” of cooling inflation before slowing the pace of Fed rate hikes, but he said a … Read more

$100 Million Film Studio to Rise From Rubble of Ex-Public Housing Site

NEWARK — With a made-for-television flourish, Newark’s mayor, Ras Baraka, climbed into an excavator earlier this year and punched the machine’s metal claw through a crumbling brick wall of the city’s first public housing site. The long-abandoned apartment complex would be replaced, he promised, with something better. On Tuesday, officials announced a grand new vision … Read more

Shanghai declares zero-Covid milestone but residents cast doubt on reopening

Hong Kong CNN — Shanghai officials on Tuesday said they had achieved “zero-Covid at the community level” in what appeared to be a turning point in a heavy-handed and costly campaign to tame an Omicron outbreak – but many residents remain skeptical the city will reopen anytime soon . “Zero-Covid at the community level” means … Read more