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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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Stocks Climb as S&P 500 Notches Best 3-Day Run of 2024

 S&P 500

Stocks closed near session highs on Monday, with the S&P 500 notching its best three-day run in a rip-roaring 2024. Wall Street continued to build on an end-of-week surge precipitated by a softer-than-expected jobs report that helped spur bets toward an earlier rate cut from the Federal Reserve.

  • The S&P 500 gained 1%, while the tech-heavy Nasdaq Composite rose 1.2%.
  • The Dow Jones Industrial Average increased almost 0.5%.

Stocks extended their rally from the end of last week, getting a boost from a “Goldilocks” jobs report that struck the balance in providing welcome news for both the markets and the Fed. More than two-thirds of bets are now on a September rate cut from the Fed, according to the CME FedWatch Tool. Most traders now expect at least two cuts by the end of the year.

Those bets could be influenced by the return of Fedspeak, now that free-speaking Fed officials are untethered from a pre-meeting blackout period. On Monday, New York Fed President John Williams said officials will make rate cut decisions based on the totality of incoming data. Williams assured that eventually “we’ll have rate cuts,” but for now, monetary policy is in “a very good place.”

Also on Monday, Federal Reserve Bank of Richmond President Thomas Barkin expressed optimism that inflation will come down to 2% as “the full impact of higher rates is yet to come.” Minneapolis’s Neel Kashkari is set to speak on Tuesday.

In corporate news, Disney (DIS) will take center stage this week as earnings season starts to wind down. Its stock is up more than 25% so far this year. After a 6% post-earnings rally on Friday, Apple (AAPL) shares lost around 0.9% after Berkshire Hathaway CEO Warren Buffett revealed over the weekend that the company had pared its holdings in the iPhone maker. Boeing (BA) sank more than 1% in afternoon trading after the Federal Aviation Administration said it has launched a new probe into the aircraft maker’s 787 Dreamliner. The company revealed to regulators last month that it may not have completed the required inspections. A Boeing spokesperson told Yahoo Finance, “we promptly notified the FAA, and this is not an immediate safety of flight issue for the in-service fleet.”

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