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Notre-Dame Cathedral Reborn: A Testament to Resilience and Restoration

  After five years of meticulous reconstruction, the iconic Notre-Dame Cathedral is set to reopen its doors to the public on December 8, 2024. The reopening ceremony will take place on December 7, marking a significant milestone in the cathedral's history. The fire on April 15, 2019, caused extensive damage to the historic cathedral, collapsing its iconic spire and causing significant harm to its roof, stained-glass windows, and interior artworks. Despite initial doubts and estimates that the restoration could take up to 40 years, French President Emmanuel Macron's ambitious goal to complete the reconstruction within five years has been achieved. The restoration project, costing around $737 million, was funded by donations from 340,000 individuals across 150 countries. The project involved the efforts of 2,000 artisans and 250 companies, who worked tirelessly to restore the cathedral to its former glory. The new roof and spire have been built using 1,500 trees, including the ta...
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Stock Market Today: Apple Earnings Boost Spirits Amid Soft Jobs Report

 



In a surprising turn of events, the stock market rallied today despite a weaker-than-expected jobs report. Here’s a brief overview of what happened:

  • Apple (AAPL) stole the spotlight with its upbeat earnings. The tech giant’s quarterly profit exceeded expectations, and it even surprised investors with better-than-estimated revenue from China. Notably, this came amidst reports of flagging iPhone sales.
  • CEO Tim Cook also discussed Apple’s plans for AI development, a key focus this earnings season. However, it was the announcement of a massive $110 billion stock buyback—the largest in US history—that truly captured the market’s attention.
  • As a result, Apple shares rose 7% in pre-market trading, significantly boosting the Dow Jones Industrial Average.

 Soft Jobs Report

  • The April jobs report painted a picture of a cooling US labor market. Employers added 175,000 jobs, falling short of the expected 240,000. Additionally, the unemployment rate unexpectedly jumped to 3.9%.
  • Traders responded by increasing bets on a sooner-than-expected rate cut by the Federal Reserve. According to the CME FedWatch tool, there’s now roughly a 50-50 chance of a rate cut at the July meeting.

Market Reaction

  • The Dow Jones Industrial Average futures jumped 1.3%, or more than 450 points, while S&P 500 futures rose 1.1%. Contracts on the tech-heavy Nasdaq 100 were up roughly 1.6%.
  • All three major indices are poised to build on sharp closing gains from Thursday.

Despite the soft jobs report, Apple’s strong performance and the prospect of a rate cut have buoyed investor confidence. Keep an eye on market developments as we navigate this dynamic landscape.


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