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Share to Twitter Share to Linkedin Topline The warm-up jacket worn by Basketball Hall of Famer Willis Reed the day he played through a torn thigh muscle to help the New York Knicks clinch their first NBA championship in 1970 will head to auction for the first time Monday. Key Facts Reed wore the white, short-sleeved jacket adorned with orange details as he warmed up before the game, during the game when he wasn’t playing on the court and during locker room celebrations after the Knicks won Game 7 of the 1970 NBA Finals. The Knicks’ team captain had already been named the most valuable player for both the 1969-70 season and the 1970 All-Star Game, but it was unclear if he’d be up to help the New York Knicks in the momentous game against the Los Angeles Lakers after tearing a thigh muscle in Game 5 and being forced to sit out Game 6. Reed–who later recalled he didn’t want to “look at myself 20 years later and say, ‘I wish I had tried to … [Read more...] about Willis Reed’s Warm-Up Jacket From Landmark 1970 NBA Finals Up For Auction

Major Moves The 10-year Treasury yield (TNX) dropped to a new 52-week low today as traders moved more money out of riskier stocks and into the safety of Treasuries . This isn't a new trend for the TNX, but based on the previous pullbacks in the index, I'm starting to wonder if we may be nearing a bounce up off the downtrending support level that has been interacting with the TNX during the 2019 calendar year. The last time the TNX dropped down like this, it rallied at support in late-March, just like it did the time before in early January. Perhaps 2.25% could be the next rally point. Long-term Treasury yields can have a dramatic impact on the health of the U.S. economy. When they rise too high, they can limit growth because they make it too expensive to borrow money. Conversely, when they fall too low, they can encourage growth because they make it incredibly cheap to borrow money. If we can avoid further negative economic shocks from the trade war between the United … [Read more...] about Can Lower Interest Rates Save the S&P 500?

- A + A NEW DELHI (May 17): India is allowing “some relaxation” of its order restricting wheat exports to allow traders to meet prior commitments, according to the trade ministry. Futures fell as much as 3.8% in Chicago before paring losses. Wheat consignments that have been handed over to customs for examination, and registered in their systems on or before May 13, will be cleared for export, the ministry said in a statement. The government has also given the green light for a 61,500-ton shipment to sail from Kandla port to Egypt following a request from that government, it said. India, in a government order dated May 13, restricted wheat exports to avoid a domestic supply squeeze. In the notification, it made exceptions only for prior commitments made by private traders through irrevocable letters of credit, and for exports to countries that require wheat for food security needs, based on the requests of their governments. Shipments were curbed after record heat … [Read more...] about India tweaks wheat ban to let trade meet some commitments

New Delhi (CNN Business) A month ago, as Russia's war in Ukraine pushed the world to the brink of a food crisis, India's prime minister Narendra Modi offered to help countries facing shortages. "We already have enough food for our people but our farmers seem to have made arrangements to feed the world," Modi said in April. "We are ready to send the relief from tomorrow itself." The world's second biggest producer of wheat after China was already walking the talk. In the 12 months to March, India cashed in on soaring global prices, exporting a record 7 million metric tons of the grain. That was up more than 250% on the previous year's volumes. It had also set record export targets for the coming year. Now, those lofty goals have been abandoned and wheat exports banned as life-threatening heat waves in South Asia stunt output and push local prices to record highs. India bans wheat exports as heat wave hurts crop, … [Read more...] about India offered to help fix the global food crisis. Here’s why it backtracked

A version of this story first appeared in CNN Business' Before the Bell newsletter. Not a subscriber? You can sign up right here . You can listen to an audio version of the newsletter by clicking the same link. London (CNN Business) West Texas Intermediate crude, the reference point for US oil prices, usually trades at a discount of a few dollars to Brent crude, the global benchmark. But this morning, the near-term futures contracts for WTI and Brent are both roughly $115 per barrel — an indication of how the market has been scrambled by the pandemic and the war in Ukraine ahead of the busy summer driving season. "This is a significant development in my opinion," Jeffrey Halley, a senior market analyst at Oanda, told clients on Tuesday. Quick rewind: Oil prices have jumped over the past week. Both WTI and Brent are trading near two-month highs. The national average for regular gas in the United States hit a fresh record of $4.52 a gallon on … [Read more...] about American oil is usually a cheaper option. Not anymore

Earlier in the week, I wrote about Amazon's plans to hire 100,000 new workers to handle the surge in online shopping . Now Walmart has announced similar plans, except the company plans to go even further--adding 150,000 new employees between now and May. Those employees will staff up Walmart's stores, distribution centers, and online fulfillment centers, according to a company statement . Walmart will also pay its 1.4 million current employees an extra $550 million in bonuses starting April 2. Full-time employees will get a $300 bonus, and part-time employees will receive $150 each. The company's statement also said that it will pay its regular quarterly employee bonus a month early, at the end of April instead of May. At a time when companies in communities across America are shutting down and laying off employees, the fact that the world's largest retailer is adding to its workforce is welcome news. Especially following on Amazon's move to do the same. While … [Read more...] about Walmart Is Hiring 150,000 Workers and Giving Out $550 Million in Bonuses

Service members placed flags throughout Arlington National Cemetery in Arlington, Virginia, on Thursday ahead of Memorial Day, which honors men and women who died while serving in the U.S. military. (Photo by Anna Moneymaker/Getty Images) (Photo by MANDEL NGAN/AFP via Getty Images) For the first time in 20 years, all joint services worked together to place American flags at more than 260,000 headstones for the annual “Flags In” ceremony, a tradition that takes place ahead of Memorial Day, Fox News reported. (RELATED: Whisky Company Releases Special Bottle Honoring Military Members) (Photo by Anna Moneymaker/Getty Images) (Photo by Anna Moneymaker/Getty Images) In many of the photos, we see military members walking through the hallowed ground where our soldiers are laid who gave the ultimate sacrifice. (RELATED: Tom Cruise And Military Members Celebrate #TopGunDay With Great Photos And More) (Photo by Anna Moneymaker/Getty Images) (Photo by … [Read more...] about Service Members Place Flags Throughout Arlington National Cemetery Ahead Of Memorial Day

“The Outfit” is an outstanding film. The film with Mark Rylance, Dylan O’Brien and Zoey Deutch about organized crime in Chicago recently dropped on Peacock, and I fired it up Monday night after hearing several great reviews. (REVIEW: ‘ Westworld ’ Season 3 Ends With The Possible Deaths Of Multiple Characters) It didn’t disappoint at all. The film centers around an elderly man named Leonard Burling, who owns a custom suit shop frequented by an organized crime family in the 1950s. When it’s revealed somebody wiretapped the crime family and the boss’ son arrives at the store with a gunshot wound to the stomach, it’s immediately clear nothing is as it appears. From there, it was off to the races! It’s all about to unravel. #TheOutfit is only in theaters February 25, a new crime thriller from the Academy Award-winning screenwriter of The Imitation Game. pic.twitter.com/WK5Gox9JAE — The Outfit (@TheOutfitMovie) November 17, 2021 Without … [Read more...] about REVIEW: ‘The Outfit’ Is An Awesome Movie

Wheat sacks are loaded onto a truck at the grain market in Punjab. Wheat jumped by the exchange limit after India’s move to restrict exports, exposing just how tight global supplies are after the war in Ukraine and threatening to drive up food prices even more. The government will suspend overseas sales to manage its food security, according to a notification dated May 13. This drew criticism from the agriculture ministers of the Group of Seven nations, who said that such measures make the world’s crisis worse. Benchmark futures rose as much as 5.9% to $12.47 1/2 a bushel in Chicago, the highest in two months. Prices have surged about 60% this year, increasing the cost of everything from bread to cakes and noodles. The surprising thing is that India isn’t even a prominent exporter on the world stage. The fact that it could have such a major impact underscores the bleak prospect for global wheat supplies. War has crippled Ukraine’s exports, and now droughts, floods and … [Read more...] about Wheat soars in risk to food inflation as India restricts exports

Kourtney Kardashian posted photographs of her very private wedding on Instagram on Monday, and the simple, classic images reflected a very different perspective than fans are accustomed to seeing. Kardashian’s wedding was a seemingly stripped-down affair that was clearly about the vows and not at all about the material frills that many famous couples fixate on. Her photos , posted on Instagram in black-and-white, oozed classic vibes. Forever commemorating her wedding vows in a timeless manner, Kardashian strayed from the spectacle that most Kardashian weddings entail and seems to have successfully pulled off a low-key, intimate affair . She wore a Dolce and Gabbana mini-dress said to be worth $1,890, according to Page Six . View this post on Instagram A post shared by Kourtney ❤️ (@kourtneykardash) The photographs served as a candid catalog of the couples’ nuptials rather than the overly-posed, media-tailored … [Read more...] about Stripping Down Kourtney Kardashian’s Wedding