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Tuesday, August 20, 2024

Stocks will hit fresh highs in the next 4 weeks -- but investors should be careful around this key date, Goldman's trading desk says - Aug 20, 2024

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Stocks will hit fresh highs in the next 4 weeks -- but investors should be careful around this key date, Goldman's trading desk says  

\"SPX $6K - new highs in Q4, led by November and December months,\" Rubner said, adding that a record $7.3 trillion in US money market funds will flow into stocks and bonds after the US election in early November.


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Hillary Clinton hands baton to Kamala Harris: 'The future is here'  

Hillary Clinton, the first woman nominated for president by a major American political party, passed that baton to Kamala Harris on the first night of the Democratic National Convention, endorsing the vice president and her goal to become the nation's first female head of state.






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North Korean soldier crosses militarised border to defect to South ? report  

But after border controls eased in 2023, the number of defectors making it to the South almost tripled last year to 196, Seoul said in January, with more elite diplomats and students seeking to escape, up from 67 in 2022.


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AI Can Break Songs Into 'Music Stems' -- Here's Why That Matters  

Artificial intelligence tools are not only generating new songs (and artists), they're also raiding hits of the past for new earnings potential. Disney Music Group, for example, has agreed to let AI music startup AudioShake, which took part in the 2024 Disney Accelerator program, generate stems of its classic hits for use in new creative and marketing opportunities. 




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NT government missed opportunities to prevent 'horrific deaths' of four Indigenous women, inquest hears  

In Australia, the crisis support service Lifeline is 13 11 14. Children, young adults, parents and teachers can contact the Kids Helpline on 1800 55 1800. Help for Aboriginal and Torres Strait Islander people is available on 13YARN on 13 92 76.


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Another suit filed against FDA over lab-developed test rule - STAT (No paywall)  

It’s the second legal challenge to the rule, following the American Clinical Laboratory Association’s suit in May. The suit, filed in Texas by the Association for Molecular Pathology and University of Texas pathologist Michael Laposata, claims that the FDA overstepped its regulatory bounds when deciding to regulate lab-developed tests. 




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Trump Shares AI-Generated Taylor Swift Endorsement  

“I accept!” the former President posted on his social media platform Truth Social on Sunday, along with a collage of images from the internet—including some apparently generated by artificial intelligence—showing the TIME Person of the Year dressed as Uncle Sam and saying “Taylor wants you to vote for Donald Trump” as well as numerous Swift fans expressing their support for the Republican presidential nominee.


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The mysterious middle-men helping Russia's war machine - The Economist (No paywall)  

RUSSIA IS PLANNING for decades of Western sanctions, a senior foreign-ministry official, Dmitry Birichevsky, said last week. The evidence suggests that might not be too much of a problem. The economy is growing smartly, at an annualised rate of 4% in the second quarter, after a whopping 5.4% the quarter before, despite one of the toughest regimes ever imposed. Trade continues to flourish. How come?




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IRS Issues Guidance On Retirement Plan Matches Based On Student Loan Payments - Forbes (No paywall)  

The IRS has issued interim guidance for a new opportunity for taxpayers created under SECURE 2.0 that allows employers to make matching contributions to retirement plans based on employees' student loan payments. The match amount is calculated as if the employee contributed their loan amount to the plan even if they did not make any elective contributions.


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Biden urges voters to elect Harris in order to 'preserve democracy' in hopeful speech  

"I made a lot of mistakes in my career, but I gave my best to you," Biden said. "For 50 years, like many of you, I gave my heart and soul to our nation, and I've been blessed a million times in return with the support of the American people."




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What Barack and Michelle Obama will say Tuesday night at the Democratic National Convention  

The 44th president said he looks forward to joining party faithful to "share what's at stake in this election," and why Vice President Kamala Harris and Minnesota Gov. Walz, her running mate, should be elected.


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Highlights From Night 1 of the Democratic Convention  

Mr. Biden’s speech, and another earlier in the night from Hillary Clinton — who came closer than any other American woman to winning the White House — symbolized how Democrats are moving on from the old guard that has led their party for decades. The convention’s opening night also served to emphasize the historic nature of Ms. Harris’s candidacy, and to frame her as riding on the shoulders of civil rights icons and women who had run for president before her, as she seeks to defeat former President Donald J. Trump.




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Edgar Bronfman submits roughly $4.3 billion rival bid for Paramount Global, Reuters reports  

Bronfman has argued his offer is superior, because it would not involve a second step of the transaction in which Paramount would acquire Skydance, another source familiar with his rationale told Reuters. Paramount previously agreed to purchase Skydance in an all-stock transaction that values the independent media company at $4.75 billion, the companies have said.


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HP's latest gaming mic is the Las Vegas casino of microphones  

In addition to the Vegas casino of gaming mics, HP is launching a wireless keyboard that it claims has “the longest battery life on a backlit dual-wireless gaming keyboard” available. The HyperX Alloy Rise 75 offers 80 hours of gameplay with the backlighting on (more RGB!!). Alternatively, you can squeeze out “a staggering 1,500 hours with the backlighting off.” (At least your mic can compensate for the lack of backlighting under those conditions.)




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The Business Roundtable's Stakeholder Pledge, Five Years Later - Harvard Business Review (No paywall)  

Five years ago, the Business Roundtable issued a statement pledging to “lead their companies for the benefit of all stakeholders.” In the past five years, stakeholderism has gained wider acceptance and helped many corporate leaders see the value of taking the interests of their stakeholders seriously when planning, developing strategy, making decisions, assessing risks, allocating resources, and so on. But that is a far cry from replacing shareholder capitalism as the central organizing principle for U.S. companies. For that to happen, much more is required. Proponents will need to define more clearly what stakeholder capitalism is, strengthen its theoretical foundations, and develop a playbook for implementing it, including metrics for measuring performance and guidelines for making tradeoffs. They will also need to build an ecosystem of investors, executives, directors, advisors, and other professionals (lawyers, bankers, accountants, analysts, and so on) who understand and support it, embed its precepts in law and regulation, and educate future leaders in its tenets and practices.




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