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  • Forecasters Predict Record-Setting Celebrations for Long July 4 Holiday

    The Transportation Security Administration (TSA) expects to screen over 32 million passengers at U.S. airports between June 27 and July 8, marking a 5.4% increase compared to the 2023 Independence Day holiday. “We expect this summer to be our busiest ever, and summer travel usually peaks over the Independence Day holiday,” said TSA Administrator David Pekoske in a recent news release, adding that the agency is prepared for the surge in security lines.

    AAA predicts that 70.9 million Americans will travel 50 miles or more from home, with over 85% opting for road trips. Paula Twidale, senior vice president of AAA Travel, stated, “We anticipate this July 4th week will be the busiest ever, with an additional 5.7 million people traveling compared to 2019.” For those driving, check here for peak congestion times in major cities like Atlanta, Boston, and Seattle.

    In other crowded places news, Disney announced changes to its ride reservation service. The Genie+ system is being replaced by Lightning Lanes at Disneyland in California and Walt Disney World in Florida. Visitors staying at park hotels can book up to three attractions seven days in advance, while those staying off-site can book three days ahead. Get the details here.

    If record summer heat and crowds aren’t your thing, consider visiting the least-visited U.S. national parks for a quieter escape.

    READ ALSO: The Nvidia Spell Falters: What Lies Ahead

    For beachgoers, CNN Underscored has compiled the best beach bags and totes to help you pack for your seaside adventures.

    10 Best U.S. Towns to Visit in 2024

    If you’re looking for an urban experience without the crowds and expense of big cities, CNN Travel has compiled a list of America’s 10 Best Towns to Visit. These towns, spanning from New England and the South to the heartland and the West, offer small-town vibes, plenty of activities, and budget-friendly options. The list highlights the United States as a top destination for tourism, filled with communities committed to improvement for both residents and visitors.

    Transportation Mishaps and Misdeeds

    Travelers have faced various challenges recently. A power outage caused delays at one of the UK’s busiest airports. In Naples, Florida, a former customs official pleaded guilty to stealing cash from arriving passengers. In South Korea, flights at Incheon International were disrupted by balloons filled with trash launched by North Korea.

    READ ALSO: How Far Can Nvidia Stock Rise?

    In maritime mishaps, the world’s largest cruise ship caught fire while docked in Mexico. And although not exactly transportation, a video of people climbing off a roller coaster in California after a mid-ride emergency is worth a watch.

     Hurricane Forecast: Delicious!

    For a festive Fourth of July, bar owner Neal Bodenheimer demonstrates how to make a proper New Orleans Hurricane. Enjoy responsibly!

  • Possible Stock Market Crash in 2024? 3 Key Indicators Pointing to a Significant Downturn

     Three forecasting tools suggest a rocky path ahead for Wall Street.

    Historically, Wall Street has been a solid wealth generator, outperforming other asset classes like bonds and real estate with its average annual returns over more than a century.

    Currently, Wall Street is experiencing a robust bull market. Since the beginning of 2023, the Dow Jones Industrial Average (^DJI -0.12%), S&P 500 (^GSPC -0.41%), and Nasdaq Composite (^IXIC -0.71%) have risen by 18%, 43%, and 71%, respectively, as of June 27, 2024.

    However, stocks rarely move in a straight line. Despite the current bullish sentiment driven by artificial intelligence (AI) and stock-split enthusiasm, three indicators historically linked to market downturns suggest a potential stock market crash in 2024.

    A Historic Decline in U.S. M2 Money Supply

    While no metric can accurately predict short-term market movements, some indicators have been reliable in forecasting downturns. One such indicator is the U.S. M2 money supply.

    M2 includes M1 (cash, coins, and demand deposits) plus money market accounts, savings accounts, and small-denomination certificates of deposit (CDs). For nine decades, M2 has consistently expanded to support economic growth.

    However, since peaking in April 2022, M2 has significantly declined, dropping by 3.49% from its all-time high. Historically, substantial declines in M2 have correlated with periods of high unemployment and economic depressions, suggesting reduced consumer spending and potential recession.

    The Longest Yield-Curve Inversion of the Modern Era

    Another warning sign is the Treasury yield curve inversion. Typically, longer-term bonds have higher yields than short-term ones. Since July 5, 2022, the yield on two-year Treasury bills has surpassed that of 10-year bonds, marking the longest yield-curve inversion in modern times.

    Yield-curve inversions have preceded every U.S. recession since World War II, with around two-thirds of the S&P 500’s peak-to-trough declines occurring during recessions. While not all inversions lead to recessions, they indicate economic headwinds.

    Exceptionally High Stock Valuations

    The third warning comes from the Shiller price-to-earnings (P/E) ratio, which accounts for average inflation-adjusted earnings over the past 10 years. The S&P 500’s Shiller P/E ratio is currently at 35.70, more than double its historical average.

    Historically, when the Shiller P/E ratio exceeds 30, significant market downturns have often followed. While the timing varies, high valuations are typically not sustained, signaling potential bear markets.

    Time and Perspective

    Although these indicators suggest potential trouble, they don’t guarantee a market crash. Short-term predictions are inherently uncertain.

    However, taking a long-term perspective reveals that recessions and market corrections are normal parts of the economic cycle. Since World War II, most U.S. recessions have lasted less than a year, while periods of economic growth have been much longer.

    For example, from 1929 to 2023, the average bull market for the S&P 500 lasted 1,011 days, about 3.5 times longer than the average bear market of 286 days. Nearly half of these bull markets outlasted the longest bear markets.

    Additionally, data from Crestmont Research shows that all 105 rolling 20-year periods from 1919 to 2023 yielded positive returns for the S&P 500. This demonstrates that a long-term investment approach has consistently delivered positive outcomes, despite short-term volatility.

    In summary, while short-term indicators point to potential challenges, a long-term perspective and historical data suggest that the market will continue to grow over time.

  • 2024 Mid-Year Outlook and JD Power EV Study: Market Domination in Overtime

    Major Indexes Close Lower as Second Quarter Ends.

    On Friday, the major indexes (^GSPC, ^DJI, ^IXIC) closed lower, marking the end of the year’s second quarter. Both the S&P 500 and Nasdaq Composite had seen gains in seven of the previous nine months, with the Nasdaq also closing higher in nine of the past ten weeks. JPMorgan Private Bank released its 2024 mid-year outlook, titled “A Strong Economy in a Fragile World.” Joining the show, Ed Clissold, chief US strategist at Ned Davis Research, shared insights into recent economic data, takeaways from the first half of the year, and market predictions moving forward. Additionally, a J.D. Power study found significant issues troubling battery electric vehicles, with 266 problems per 100 EVs compared to 180 per 100 internal combustion engine vehicles.

    Video Transcript Summary

    The market closed down on Wall Street. Jared provided an update on the day’s action. The Dow was down by about 41 points (1/10 of 1%) for the week, with the S&P 500 dropping 4/10 of 1% and the Nasdaq down 7/10 of 1%. As the second quarter and first half of the year ended, traders adjusted their positions.

    Yields remained unchanged despite inflation data aligning with estimates, with the 10-year yield at 4.34%. Jared mentioned the NASDAQ 100, noting a lot of red in mega caps. Energy and communication services were the only sectors in the green, while utilities, materials, staples, and tech saw declines of 1% or more. Regional banks and solar energy stocks were among the best performers, while Bitcoin and cannabis stocks experienced declines.

    Ed Clissold discussed the market’s outlook, noting solid earnings growth and a low chance of recession. He mentioned the potential for a small correction but emphasized a generally positive outlook for the second half of the year. Valuations were slightly elevated but not a major concern unless earnings growth declines. Clissold also highlighted the relative valuations between stocks and bonds.

    On the political front, Alex Saunders from Citi Research discussed the impact of the recent presidential debate, noting that market reactions were mild. He emphasized that the current focus is on the rates market and the potential for a split Congress, which would be bond market-friendly.

    In the automotive sector, JD Power’s latest initial quality survey revealed significant issues with battery electric vehicles, with Tesla’s score dropping due to changes in the Model Y and Model 3.

    Jobs Report 

    The June Jobs report is due on Friday, with expectations of a slight decline in non-farm payrolls and hourly wages, while unemployment is expected to hold steady.

    Fed Chair Jerome Powell’s Speech

     Powell will speak at the European Central Bank Forum in Portugal on Tuesday.

    FOMC Meeting Minutes

     Minutes from the June FOMC meeting will be released on Wednesday.

    Constellation Brands Earnings

    Constellation Brands will report earnings on Wednesday, with a focus on the performance of its beer business.

  • UNILORIN Don makes case for women’s reproductive rights

    UNILORIN Don makes case for women’s reproductive rights

    A University of Ilorin don, Prof. Mahmud Kayode Adebayo, has recommended inclusion of women’s rights in the constitution, to promote reproductive health rights in our society.

    Prof. Adebayo made the call Thursday during the 265th inaugural lecture tagged “On The Reproductive Autonomy of My Right or Not My Choice”.

    FELLOW PRESS reports that Prof. Adebayo, who graduated with LL.B from University of Maiduguri, LL.M (University of Jos), Ph.D (University of Jos) and BL. (Lagos), is a professor of Private and Property Law.

    The don stressed that “I recommend the amendment of Chapter IV of the Constitution on Fundamental Human Rights to be made justiceable, or in the alternative, a new and separate chapter be created for these women’s rights in the proposed amendment to the constitution and tagged ‘Socio Cultural Rights’ and be made enforceable in our courts of law.”

    He further urged governmental and non-governmental organisations to partner and play “greater role in the critical areas of concern for women reproductive health rights”, while pointing out need to specifically address most needed reforms in the health sector.

    “Hence, I am recommending that there should be mandatory provision of government legislation on mental health services to protect women against disabilities arising from effect of female genital mutilation and other harmful traditional practices. In addition, women must have free and low-cost access to legal services.”

    The UNILORIN don further noted that “in order to promote, protect and enforce women’s reproductive health rights, all international legislations and policies on women’s reproductive health should be articulated and harmonized into single instrument and documented.

    Citing an instance, Prof. Adebayo said “all protocols, declarations, policies and chapters on women’s reproductive health rights; including rights to equality of life, liberty, security of persons, family planning, consent to marry, privacy, protection from discrimination, sexual violence, harmful traditional practices, cruel and inhuman degrading treatment, should be domesticated and implemented in line with Section 12 of the 1999 Constitution (as amended).”

  • Nike stock falls as it projects bigger deals decline than anticipated in 2025

     Nike (NKE) faced a significant drop in its stock price, plummeting nearly 14% in pre-market trading following a disappointing earnings report and guidance for fiscal 2025. 

    Nike revised its revenue outlook for fiscal 2025, now expecting a mid-single-digit decline overall, with a projected 10% drop in the first quarter. This was a stark contrast to previous expectations of growth for the year.

    Despite exceeding earnings per share (EPS) expectations with $0.99 versus an estimated $0.66, Nike’s quarterly revenue for the fourth quarter of fiscal 2024 fell short of Wall Street estimates at $12.61 billion, compared to an expected $12.86 billion. Direct-to-consumer sales also declined by 8% year-over-year to $5.1 billion.

    The stock market reacted negatively, with Nike’s stock price dropping by 14.65% in pre-market trading to $80.39. This decline reflects investor disappointment and concerns over Nike’s ability to generate growth amidst competitive pressures.

    Nike’s gross margins improved slightly to 44.7% from 43.6% a year ago but still fell short of analyst expectations of 45.3%. The company’s stock performance over the past year has been lackluster compared to broader market indices, reflecting investor skepticism about its growth prospects.

    The company is facing challenges in revitalizing its sales growth amid competition from rivals like Adidas, as well as newer players in the market such as On and Deckers’ Hoka brand. The company’s efforts to scale new products are seen as crucial in turning around its financial performance by the end of the year.

    Its latest financial results and guidance have disappointed investors, leading to a significant drop in its stock price. The company’s ability to execute its growth strategy and regain market confidence will be closely monitored moving forward.

  • Today’s Stock Market: Asian Shares Mostly Gain in Anticipation of U.S. Inflation Report

     Asian shares saw gains on Friday as investors anticipated a crucial inflation report that could impact the Federal Reserve’s future interest rate decisions.

    The Nikkei 225 in Japan surged 0.9% to 39,711.93 early in the trading session. Australia’s S&P/ASX 200 rose 0.6% to 7,803.50, while South Korea’s Kospi edged up nearly 0.3% to 2,790.97. Hong Kong’s Hang Seng added 0.8% to 17,860.79, and the Shanghai Composite jumped 1.0% to 2,976.26.

    In economic news, Japan reported an unchanged unemployment rate of 2.6% in May.

    On Wall Street, the S&P 500 posted a slight 0.1% gain, maintaining its position near last week’s all-time high. The Nasdaq composite also rose 0.3%, staying just below its peak, while the Dow Jones Industrial Average closed 0.1% higher.

    Retailers and communications services led gains, offsetting losses in consumer goods and financial sectors. Amazon.com rose 2.2% and Meta Platforms gained 1.3%. However, Walgreens Boots Alliance dropped 22.2%, the largest decline in the S&P 500, after reporting weaker-than-expected results and reducing its outlook. Levi Strauss fell 15.4% due to disappointing revenue results and earnings forecast.

    In positive news, McCormick rose 4.3% after surpassing earnings expectations, while Micron Technology fell 7.1% following a disappointing forecast.

    Bond markets saw Treasury yields decline, with the 10-year yield dropping to 4.28% and the two-year yield falling to 4.71%.

    Investors await Friday’s release of the personal consumption expenditures index (PCE), the Federal Reserve’s preferred measure of inflation. Economists expect a modest easing to 2.6% in May from 2.7% in April, reflecting a broader trend of inflation easing from its peak in mid-2022.

    The Federal Reserve’s decision on interest rates, currently at their highest level in over two decades, could hinge on these inflation figures. Markets anticipate potential rate cuts starting in September.

    Elsewhere, U.S. economic growth for the first quarter was revised slightly upward to 1.4%, reflecting ongoing challenges from inflation and high interest rates affecting consumer spending.

    Overall, the S&P 500 is set for its fourth consecutive weekly gain, up nearly 4% for June and approximately 15% year-to-date.

    In commodities, U.S. crude oil rose to $82.17 a barrel, while Brent crude climbed to $86.78 a barrel. The U.S. dollar strengthened against the yen and the euro, trading at 160.96 yen and $1.0695 respectively.

  • Empower Your Small Business for Success with These Essential Tips

     “Twenty years from now, you’ll regret the things you didn’t do more than the ones you did. So cast off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover.”

    Although this advice might seem like it’s from a modern-day podcaster, it actually came from Samuel Clemens, better known as Mark Twain, the 19th-century novelist and essayist.

    Many of Twain’s insights have proven timeless, particularly for today’s growing cohort of entrepreneurs. For myriad reasons, more and more individuals are leaving the traditional workforce behind and venturing into business ownership.

    Cynthia Kay is an ally to these aspiring business owners. As the author of “Small Business, Big Success: Proven Strategies to Beat the Odds and Grow a Great Business,” and the founder of an award-winning media production and communications consulting firm, Kay advises clients ranging from Fortune 100 companies to small businesses and non-profits. She has also served as board chair for the National Small Business Association.

    The disruptions in the workplace spurred by the Covid pandemic have nudged many towards entrepreneurship. Kay offers sage advice to those embarking on their own business journeys.

    “Having a great idea for a product or service is just the start,” she explains. “You need to conduct thorough research to determine if your idea is commercially viable. Whether you’re pioneering a new market or entering a competitive field, timing is crucial. Being ahead of the curve requires resources to generate demand, while in a crowded space, differentiation and value proposition are key considerations.”

    Kay emphasizes the importance of passion and perseverance in business ownership. “Passion fuels success,” she notes. “Owning a business demands dedication, especially in the initial five years. Be prepared to sacrifice personal time and financial security. If you’re driven and willing to put in the effort, take the plunge.”

    Additionally, Kay stresses the significance of having an exit strategy from the outset. “Many overlook this step in the rush to start a business,” she advises. “Knowing your exit strategy informs your operational decisions and growth plans. Whether building a lifestyle business or aiming for rapid growth, clarity on your end goal is essential.”

    To navigate potential partnership pitfalls, Kay recommends developing a “business prenup.” “Partnerships require candid discussions beyond ownership and structure,” she explains. “Understanding each other’s work styles, values, and personal traits upfront mitigates future conflicts.”

    Hiring the right team is critical, too. Kay suggests aligning hiring practices with company culture and operational needs. “Look beyond skills to traits like creativity, motivation, and problem-solving ability,” she advises. “These qualities are vital for individual and organizational success.”

    Reflecting on common pitfalls, Kay highlights underestimating startup costs, neglecting professional advice, and failing to define target customers as frequent missteps among aspiring entrepreneurs. “Documenting processes, leveraging technology, and prioritizing cybersecurity are essential for sustainable operations,” she adds.

    As for her own entrepreneurial journey, Kay expresses a desire to have started sooner. “I spent 13 years in corporate roles before taking the leap,” she reveals. “While it was a learning experience, I could have transitioned earlier.”

    In essence, entrepreneurship often means living differently now to achieve what most people cannot later. For more insights, you can follow Kay on Twitter or LinkedIn and explore her website and other work.

  • Surviving Your First Year as a Small-Business Owner: Insights from Successful Entrepreneurs

     Starting your first year as a small-business owner is a significant shift from a traditional 9-to-5 job. Entrepreneurs face new challenges and risks, but with careful planning, they can not only survive but thrive. GOBankingRates interviewed three successful small-business owners who shared their practical and creative tips for navigating your inaugural year as an entrepreneur. Here are their insights to help you succeed:

    Pay Attention to Numbers

       Bill Nishanian, owner of Nash Painting, emphasizes the importance of numbers in small business. He advises creating one, three, and five-year plans that outline necessary salaries and reverse engineer revenue, marketing, and metrics to achieve these goals. Nishanian also recommends securing access to cash through tools like an SBA line of credit, ensuring you only pay interest on what you borrow.

    Have a Cash Flow Forecast

       Jennifer Barnes, CEO of Optima Office, underscores the necessity of a cash flow forecast. This tool helps business owners manage current and future finances, focusing on quarterly projections and updating weekly or daily as needed. Maintaining a solid cash flow forecast ensures you can meet financial obligations, especially payroll.

    Set Realistic Expectations

       Margo Perkins, founder of Margo Paige, advises setting realistic expectations, especially in the first challenging year. Recognize that gaining traction takes time, and be prepared for unexpected setbacks. Keeping a long-term perspective helps navigate through obstacles with resilience.

    Focus On Your Vision

       Perkins stresses the importance of staying focused on your business vision. Clarity on your vision guides decision-making, goal setting, and upholding your core values. This clarity keeps you passionate about your business, even during challenging times.

    Don’t Let Small Issues Overwhelm You

       Jennifer Barnes advises against getting worked up over minor setbacks. Focus on issues that will impact your business in the long term, rather than letting smaller details derail your focus and productivity. Maintain a high-level perspective to prioritize tasks effectively.

    Take Care of Yourself

       Self-care is crucial for small-business owners to prevent burnout. Perkins emphasizes the importance of maintaining a healthy work-life balance, getting adequate rest, eating well, and engaging in activities that rejuvenate you. Your well-being directly influences your business’s success.

    By implementing these tips from seasoned entrepreneurs, you can navigate the challenges of your first year with confidence and set a solid foundation for future growth and success.

  • PDP Denies Offering Goodluck Jonathan 2027 Presidential Ticket

    PDP Denies Offering Goodluck Jonathan 2027 Presidential Ticket

    • Party says no formal invitation extended to ex-president for candidacy
    • Eligible candidates will emerge through party processes, PDP insists

    The Peoples Democratic Party (PDP) has refuted claims that it has invited former President Goodluck Jonathan to run for the presidency on its platform in the 2027 general election.

    Speaking to BBC Hausa, Ibrahim Abdullahi, the PDP’s deputy spokesperson, clarified that no offer has been made to the former president, contrary to widespread speculation.

    “There is no truth to the reports that the PDP has issued its presidential ticket to former President Goodluck Jonathan or invited him to contest the 2027 election,” Abdullahi stated.

    The deputy spokesperson explained that comments made during a recent interview had been misinterpreted.

    “In the interview, a journalist mentioned President Jonathan and asked for our opinion on his potential candidacy, given the reports that he is being urged to run,” Abdullahi said. “I simply responded that he is legally eligible to contest because he is a Nigerian citizen and has one term left under the law. However, this was misconstrued as an endorsement or an invitation.”

    Abdullahi emphasised that the PDP has several qualified individuals capable of running for the presidency, and the party remains committed to a transparent process in selecting its candidate.

    “The ticket will go to someone who formally declares their interest and meets the party’s criteria. We have not yet issued any ticket to anyone,” he added.

    Goodluck Jonathan, who served as Nigeria’s president under the PDP from 2010 to 2015, lost his re-election bid to former President Muhammadu Buhari in the 2015 general election.

    The clarification from the PDP comes amidst increasing speculation about Jonathan’s potential return to active politics and his eligibility to run for office. The party has reiterated its focus on ensuring fair and democratic processes in selecting candidates for the 2027 elections.

  • Nigerian Filmmaker Todimu Adegoke Champions Equity for Emerging Talent at Nigeria’s Biggest Film Summit

    Nigerian Filmmaker Todimu Adegoke Champions Equity for Emerging Talent at Nigeria’s Biggest Film Summit

    At the 2021 edition of the Nigerian International Film and TV Summit, one of Africa’s most significant gatherings of cinema professionals, filmmaker Todimu Adegoke delivered a powerful address that underscored the need for equitable access, financial support and institutional trust for the country’s rising generation of storytellers.

    Speaking during a high-profile panel titled “Next Generation Focus – The Industry, Opportunities and Exemptions”, Todimu Adegoke shared the stage with some of the most influential figures in the Nigerian film ecosystem and the international market. These included Joy Odiete, CEO of Blue Pictures Entertainment; Ben Flint, COO and co-founder of Vuulr; Moses Babatope, Group CEO of Nile Media Entertainment and Managing Director of FilmOne; Patrick Lee, Head of Operations at Viva Cinemas and former Chairman of the Cinema Exhibitors Association of Nigeria (CEAN); Ope Ajayi, CEO of Cinemax Distribution; and Michael Williams, General Manager of EbonyLife Place.

    While acknowledging the significant strides made in recent years—particularly in areas such as training, field practice, talent discovery, and international partnerships—Adegoke pointed out that many young filmmakers continue to face systemic barriers that hinder the realization of their creative ambitions.

    Todimu emphasized the need for dedicated “pitch-for-fund” platforms that allow young creators to present their ideas and secure financial backing

    “We’ve seen unprecedented benefits from the industry in recent years,” he said, “but we must now focus on building access to funding, collaboration and distribution in a way that’s fair and transparent for new voices.”

    Todimu emphasized the need for dedicated “pitch-for-fund” platforms that allow young creators to present their ideas and secure financial backing. He noted that while investors often support projects led by established filmmakers, a similar level of trust is rarely extended to emerging talents. “Collaboration isn’t just about who you know; it’s about who you believe in,” he said, calling on the industry to empower young filmmakers through angel investors, seed capital and shared risk-taking.

    “Collaboration isn’t just about who you know; it’s about who you believe in” 

    One of the key issues he raised was access to distribution—a cornerstone of commercial success in the film industry. Todimu Adegoke highlighted the gap in accessibility, pointing out that many TV projects receive funding and distribution commitments in their development stages, often from studios that remain unreachable to young creators. He urged these gatekeepers to actively support new voices in the same manner they do established names.

    The filmmaker also stressed the importance of transparency and fairness in the business side of filmmaking. For many young creators, success hinges not just on the ability to make a film, but on entering into honest, equitable partnerships. “It’s not enough to create,” he said. “The young want to rise.”

    Nigeria’s film industry continues to gain global recognition and expand its commercial reach

    His remarks struck a chord with attendees at the summit, which annually brings together stakeholders from all corners of the African and international film industries. By sharing the stage with industry leaders who have shaped distribution, exhibition and production across Nigeria and beyond, Adegoke’s call for inclusion carried both urgency and legitimacy.

    As Nigeria’s film industry continues to gain global recognition and expand its commercial reach, Adegoke’s intervention served as a reminder that the next generation of filmmakers must not be an afterthought, but a priority. His message was clear: the future of Nollywood depends on how it nurtures its future voices.

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