New York (CNN Business) The stock market is like that old slogan for Timex watches. It takes a licking but keeps on ticking. Sure, it's been a rocky start to the year on Wall Street following a stellar 2021. The Dow is down about 1% and the S&P 500 has fallen 2%. Trading has been volatile. But the Dow and S&P are still each just 3% below their all-time highs. Tech stocks have had a bit more of a wild ride. The Nasdaq is down 5% in 2022 and nearly 8% under its peak, putting it closer to a 10% drop known as a correction. Yet every time it looks like stocks could be heading for an even steeper drop, investors come rushing back in to buy the dips. Traders have so far mostly shrugged off temporary concerns about inflation and the Federal Reserve getting ready to raise interest rates , as well as fears over the impact that the Omicron variant of Covid-19 may have on the economy. Earnings growth has remained strong in spite of these … [Read more...] about Here’s what could rattle the stock market this year
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Cognac sales jump 31%, thanks to the US and China
Paris Cognac sales surged by nearly a third last year as American and Chinese drinkers guzzled old vintages, in the latest sign premium drink makers are putting the pandemic behind them. Sales of the brandy, produced in the Cognac region of France, rose by almost 31% in value to 3.6 billion euros ($4.1 billion), industry group BNIC said Monday. Volumes were up 16% to 223.2 million bottles. High-end Champagne shortage could ruin your New Year's Eve "This growth reflects a real recovery of cognac, as well as new consumption habits," BNIC said in a statement, noting sales had also risen compared with 2019, before the pandemic struck. The outlook should remain positive in the coming months for all destinations, BNIC added. Read More The news comes after France's champagne industry said last month it expected record sales in 2021, and follows strong results from several spirits companies. Cognac sales to its largest … [Read more...] about Cognac sales jump 31%, thanks to the US and China
Letter From Tupac To Madonna Set To Be Auctioned Off Starting At $100,000
A letter from Tupac to Madonna will be auctioned off after a legal battle. The letter is a three-page note Tupac wrote to Madonna while he was in prison in 1995, according to a report published Thursday by CNN . Madonna and Tupac reportedly secretly dated years before he died. Madonna’s ‘older white woman’ letter from Tupac will be sold https://t.co/IFkIpf8skl pic.twitter.com/hixKzNRxQ7 — Page Six (@PageSix) July 11, 2019 “I must apologize to you,” Tupac wrote in the letter. “Because like you said I haven’t been the kind of friend I know I am capable of being. Not because I am evil or because you weren’t worthy but at the risk of sounding over dramatic, the effects of racism make it difficult for a young black man to properly show affection for an older white woman.” Tupac died a year after he sent the letter to Madonna. (RELATED: Madonna Opens Up About 2015 Album Leak, Says She Felt ‘Raped’) The letter is a part of a group of Madonna’s personal … [Read more...] about Letter From Tupac To Madonna Set To Be Auctioned Off Starting At $100,000