Market Coverage – Tuesday July 12 Yahoo Finance

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Stocks opened Tuesday’s trading session higher as tech stocks looked to rebound from Monday’s decline and all eyes remained on the currency markets.

Shortly after the market open, the benchmark S&P 500 was up 0.3%, the Dow was up 0.1%, and the tech-heavy Nasdaq was higher by 0.7%. During Monday’s trading session, the Nasdaq lost more than 2.2%.

Overnight, the euro fell as low as 1.0004 against the dollar as all eyes remain on whether the currency will fall below parity — or a 1:1 ratio — with the dollar.

In energy markets, crude oil futures were off nearly 5% to trade below $100 as commodities remain under pressure amid investor fears of a global recession.

Tamara Basic Vasiljev, senior economist at Oxford Economics, said in a note Monday that all of the financial easing seen in advanced economies worldwide has been undone by this year’s surge in interest rates and decline in financial markets. In Vasiljev’s view, however, the recent slide in commodities suggests inflation pressures may have peaked, which could ease financial conditions going forward.

“Now that the commodity prices are falling again and inflation peak looks to be within reach it is likely that we are seeing the worst of financial conditions tightening,” Vasiljev wrote. “If so, conditions worsening is dire but the level is still more in favor of [an] orderly slowdown rather than a recession.”

Elsewhere in markets, crypto was under pressure again on Tuesday morning, with bitcoin (BTC-USD) falling below $20,000 once again after the world’s biggest cryptocurrency enjoyed its best week since last fall.

This week also marks the start of second quarter earnings season, with PepsiCo (PEP) the first major corporation to post results for the quarter before Tuesday’s market open.

The beverage and snack giant reported sales that beat estimates and raised its forecast for the full-year.

Elsewhere in corporate news, Walmart (WMT) and electric vehicle maker Canoo (GOEV) announced a deal Tuesday morning that included a deal for the retailer to buy 4,500 electric vehicles with an option to purchase an additional 100,000 vehicles.

A display for multinational retail corporation Walmart is seen at the Collision conference in Toronto, Ontario, Canada June 23, 2022. Picture taken June 23, 2022. REUTERS/Chris Helgren
A display for multinational retail corporation Walmart is seen at the Collision conference in Toronto, Ontario, Canada June 23, 2022. Picture taken June 23, 2022. REUTERS/Chris Helgren
Shares of Canoo more than doubled in early trade following this announcement. Shares of the company, which made their market debut via a SPAC merger in 2020, were down 70% this year through Monday’s close.

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VIP Minds CEO and Visionary Nora Abou Chakra Launches ‘Power Hearts,’ a Transformative Initiative Driving Social Change

CEOs revolutionizing philanthropy through inspiring charitable actions

Today marks the launch of "Power Hearts," an innovative initiative led by businesswoman and visionary Nora Abou Chakra. With each endeavor, Power Hearts embarks on a different mission, empowering CEOs to take direct action and make a tangible impact. Through immersive experiences and hands-on involvement, Power Hearts addresses pressing societal issues, fostering empathy and inspiring CEOs to become advocates for change within their organizations and communities.

Nora Abou Chakra, a respected entrepreneur known for her philanthropic endeavors, has once again demonstrated her commitment to driving social change with the launch of Power Hearts. Under this empowering initiative, CEOs from diverse industries come together to tackle pressing issues and create transformative solutions.

An example of these missions is hunger. Power Hearts combats hunger and alleviate the suffering of those affected by it. CEOs gather in a large-scale communal kitchen, where they actively participate in purchasing groceries and cooking meals for those in need.

The immersive experience provided by Power Hearts goes beyond the kitchen. CEOs physically hit the streets, personally distributing the freshly prepared meals to individuals experiencing hunger. This direct interaction with those in need further deepens their understanding of the issue, sparking a profound connection and a sense of shared humanity.

CEOs return to their organizations with a renewed perspective and a profound commitment to addressing the issue of hunger. They become ambassadors for change, leveraging their influence and resources to advocate for hunger relief initiatives within their respective communities and among their staff members.

Nora Abou Chakra, the driving force behind Power Hearts, expressed her enthusiasm for the initiative, stating, "Power Hearts aims to create a ripple effect of compassion and advocacy. By immersing CEOs in the realities of pressing social issues, we ignite a powerful drive for change that reverberates throughout their personal and professional spheres. Together, we can make a significant difference and create a more compassionate and equitable world."

Power Hearts represents Nora Abou Chakra's unwavering commitment to leveraging the influence and resources of business leaders for the greater good. By providing CEOs with transformative experiences, Power Hearts empowers them to become catalysts for change and advocates for social causes that resonate with their hearts.

For more information about Power Hearts and its upcoming initiatives, please visit or follow us on @power.hearts

Contact Information:
Stephanie Khalil
Executive Assistant to CEO

Original Source: VIP Minds CEO and Visionary Nora Abou Chakra Launches 'Power Hearts,' a Transformative Initiative Driving Social Change

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