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STOCKS
US Market- Inflation hit 9.1% in June, the highest since November 1981. That figure still isn’t stopping consumers from spending as usual, though. Many analysts believed that spending would’ve been cut by now as the talk of a recession strengthens. Banks tend to be windows to an economy. Here’s a look at recent reports by some of U.S. top banks.
A new round of bank results from Wells Fargo and Citigroup offered further insight into the state of the economy. Wells Fargo popped 6.4% even as quarterly profits declined 48% and the bank set aside funds for bad loans. Citigroup soared 11.2% as it beat estimates and benefited from a rising rate environment.
A day earlier, investors combed through troubling reports from JPMorgan Chase and Morgan Stanley, which kicked off major bank earnings, and also weighed the likelihood of larger interest rate hikes from the Federal Reserve and looming recession concerns.
source: CNBC
All this news is perhaps a hint to some investors that the Fed may not raise rates as high as anticipated. Some have taken action. The S&P 500 is up so far today. Companies like Meta, Amazon and even Pinterest are also up, indicating that investors are still hopeful on equities…at least for now.
Jamaican Market- News coming from companies on the Jamaica Stock Exchange:
The Limners and Bard Limited (LAB) has advised that the Third (3rd) Annual General Meeting (AGM) of the Company will be held on July 20, 2022, at 10:00 a.m. at Terra Nova All-Suite Hotel, 17 Waterloo Road, Kingston 10. The AGM will be held in a hybrid format in accordance with the Court Order dated May 31, 2021, in Claim No SU 2021 CD 00196. more details.
Productive Business Solutions Limited (PBS) has advised that a dividend was declared in the sum of $124,741,232.99 to the Cumulative Preference Shareholders on record as of June 30, 2022 payable on July 29, 2022. The ex-dividend date is June 29, 2022.
Portland JSX Limited (PJX) wishes to advise that its annual general meeting will be held at McNamara Corporate Services Inc., Bella Rosa Road, Gros Islet, Saint Lucia on Tuesday, October 4, 2022 at 10:00 a.m. (St. Lucia time).
source: JSE
TRICK
What do you use baking soda for? I use it when I’m making carrot cake, and that’s about it. It has a lot more purpose than that. Here are 22 ways to use baking soda.
OLD
The average person these days have tens or hundreds of selfie and can take one at any moment. Meet the guy who started it all, Robert Cornelius. He’s on record as the first person to have taken a selfie. Robert took the famous picture in the back of his family’s shop in 1839, using a Daguerreotype camera.
Cornelius took the image by removing the lens cap and then running into frame where he sat for a minute before covering up the lens again. On the back of the image he wrote "The first light Picture ever taken. 1839.”
source: publicdomainreview.org
NEW
Researchers recently discovered life in the deep-sea brine pools in the Gulf of Aqaba. Generally, you need energy from the sun and oxygen for living things to survive. In recent times though, sharks and other animals have been found in parts of the ocean that doesn’t have oxygen or sunlight.
It could also tell us how salty underwater lakes hold secrets into the way oceans on Earth formed millions of years ago and offer clues to life on other planets and even may hold potential cancer-fighting compounds. Bioactive molecules with potential anti-cancer properties have previously been isolated from brine pool microbes.
to read more on this story, visit: jpost.com
ENTERTAINING
In honor of this being Stone Email #007, I think it is fittingly appropriate that I highlight the James Bond movie collection. In the movies, Mr. Bond is known as agent #007. These movies have been filmed all over the world, from Jamaica to the U.K. Here’s a list of all the James Bond movies:
1962 - 1969
1971 - 1981
1983 - 1997
1999 - 2015
In keeping with the #007 theme here is a big tune from Jamaican artist, Desmond Dekker- 007 (Shanty Town).
That’s it for this week. If you haven’t subscribed as yet you may do so below. Stay safe and see you next week, God’s will.