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A new era of austerity Shares in tech companies are in retreat after investors got sobering news on Thursday about three of the industry’s giants — Alphabet, Amazon and Apple — including slowing demand for everything from iPhones to digital ads to cloud services. “You’re hearing that from, I would think, everybody ,” Tim Cook of Apple said of the challenging environment on CNBC. That outlook is largely responsible for Nasdaq 100 futures being down 1.4 percent this morning, eroding Thursday’s big tech stock gains after investors hoped that the Facebook parent Meta had shown tech how to operate in leaner times. Plenty of headwinds are hitting the tech sector. Central bankers this week reiterated that they’re not done raising interest rates (even if market participants don’t fully believe it ). Together with a slowing economy, that has led companies and consumers alike to spend less — a move toward austerity that tech companies have now embraced , after years of rocketing … [Read more...] about Tech Earnings Give a Wake-Up Call to Investors

close Video Pentagon says Chinese surveillance balloon over US does not pose direct threat The Pentagon recommends the president not to shoot down the balloon as Secretary of State Antony Blinken postpones his first trip to Beijing since COVID, reports Fox News’ Greg Palkot. EXCLUSIVE: House China Select Committee Chairman Mike Gallagher told Fox News Digital that the Chinese spy balloon flying over the continental United States is "not just an isolated incident," but an intentional violation and threat to American sovereignty. "The important thing that the American people need to understand, and what we are going to try to expose in a bipartisan fashion on this committee, is that the threat posed by the Chinese Communist Party (CCP) is not just a distant threat in East Asia, or a threat to Taiwan," Gallagher told Fox News Digital on Friday. CHINA CONFIRMS BALLOON IS THEIRS, AS SPOKESPERSON CLAIMS IT IS CIVILLIAN RESEARCH AIRSHIP … [Read more...] about China spy balloon is a ‘threat’ to American sovereignty and ‘not just an isolated incident,’ Gallagher says

Nets’ star Ben Simmons will likely miss his fourth straight game due to left knee soreness this Saturday against the Washington Wizards, head coach Jacque Vaughn said on a Zoom conference call on Friday. Simmons left Brooklyn’s Jan. 26 loss to the Detroit Pistons after sustaining what appeared to be a swipe toward the eye. The Nets later announced he would not return due to soreness in his left knee. Vaughn said Simmons received an MRI that came up clean. Reserve forward T.J. Warren is also expected to miss his fourth straight game after sustaining a left shin contusion in the loss to the Pistons. “So, Ben and TJ got on the court a little bit yesterday. They’ll probably, in about another half an hour or so, they’ll try to get on the court again,” Vaughn said from Brooklyn’s practice facility in Industry City on Friday. “You know, both are progressing. We’ll list them both as not available for Saturday’s game, and whether that is probable or questionable, we’ll see after … [Read more...] about Nets Notebook: Ben Simmons to miss fourth straight game with knee soreness and swelling

It is no secret that the stock market has been rocky since the start of the year. Tech giants like Apple, Microsoft, Google and Amazon have been no help at all. Their shares have all had double-digit percentage declines. So far in 2022, the S&P 500 is down more than 13 percent, and it briefly dipped more than 20 percent below its peak, putting stocks in bear market territory. Dismal as the stock market may be, the situation looks even worse if you are worried about the future of the planet. The fact is that only one broad stock sector has provided consistent returns over the last year: old-fashioned fossil fuel, and the companies that extract, refine, sell and service it. In fact, when I looked at a performance table of the top companies in the S&P 500 for 2022, I found that 19 of the top 20 spots belonged to companies connected, in one way or another, with fossil fuel. The best performer was Occidental Petroleum, with a gain of 142 percent. This isn’t just a U.S. … [Read more...] about Fossil-Fuel Shares Lead the Stock Market. How Awkward.

The news of a Chinese spy balloon floating through American airspace has bolstered Republican calls to focus on national security — including from Rep. Mary Miller (R-IL), who is proposing a foreign land purchase moratorium to protect U.S. food security and stabilize housing prices. Congresswoman Miller is set to reintroduce a bill on Monday entitled the ‘‘Saving American Farms from Adversaries Act.” The legislation would give the president power to prohibit the purchase of public or private real estate in the United States “by any foreign person,” including corporations and partnerships, for the five-year period after the enactment of the law. Breitbart News learned exclusively of the bill’s introduction on Friday, and was first to report the bill last year when Miller introduced it with now-retired Rep. Louie Gohmert (R-TX). “Our adversaries continue to rob our country of wealth and prosperity under Joe Biden’s weak leadership. Congress must respond to the critical … [Read more...] about Chinese Spy Balloon Renews GOP Push for Foreign Land Purchase Ban