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East-west pipeline allows oil company to circumvent the Strait of Hormuz and keep pumping
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Wall Street is glomming on to yet another acronym inspired in part by Mexican cuisine.
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All passengers on hantavirus-hit ship considered high-risk contacts, EU health agency says ReutersThe country where lethal hantavirus cases are on the rise. Experts blame climate change CNNCruise Ship Linked to Hantavirus Outbreak Arrives in Spain's Canary Islands for Disembarking The New York TimesHantavirus: Current Situation Centers for Disease Control and Prevention | CDC (.gov)
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China's Exports and Imports Set Records in April Amid High Energy Costs The New York TimesChinese Export Growth Rebounds as War Fails to Curb Trade Bloomberg.comChina April exports rebound strongly after sluggish March, trade surplus widens CNBCChina's exports jump 14% ahead of Xi Jinping-Donald Trump summit Financial Times
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Thunder vs Lakers Predictions, Picks, Odds for Game 3: The Inevitable OKC Avalanche Action NetworkThunder vs Lakers score, live updates: Highlights, how to watch Game 3 USA TodayThunder 125-107 Lakers (May 7, 2026) Game Recap ESPNThunder proved their inevitability extends beyond SGA: ‘They know how to win' - The Athletic The New York Times
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A belief in resilience underwritten by big lasting state support is keeping stocks high
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Selling in the stock market picked right back up Monday, and despite a brief mid-morning push into positive territory, the major indexes still ended lower.
"Despite a quiet global economic data front, this weekend and Monday morning have been anything but quiet as global yields are surging to record highs," said Stefanos Bazinas, execution strategist at the New York Stock Exchange. Indeed, both the 2-year Treasury yield ( 10.5 basis points to 4.319%) and the 10-year Treasury yield ( 20.3 basis points to 3.90%) continued to climb, hitting levels not seen in over a decade.
SEE MORE 19 Best Stocks to Buy Now for High Upside Potential
And this, Bazinas says, comes after the U.K. last week announced the biggest tax cuts in more than 50 years and indicated more were to come. This sent the British pound to an all-time low against the U.S. dollar earlier today. The dollar, for its part, hit its highest level since early 2002.
Most sectors finished lower, led by sharp losses for real estate (-2.7%) and utility (-2.4%) stocks. And while consumer discretionary (-0.2%) also ended in the red, its loss wasn't nearly as deep thanks to strength in Las Vegas Sands (LVS, 11.8%) and Wynn Resorts (WYNN, 12.0%). The casino stocks rallied after Macau, a huge destination for Asian gambling, said it is planning on relaxing COVID-related travel restrictions as soon as November.
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Two big outside investors in the Vision Fund, the $100 billion tech-investment fund managed by SoftBank, are worried transfers of stakes between SoftBank and the fund at high valuations could set up future losses.
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