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Tech Surge Lifts Nasdaq as Inflation and Bank Earnings Weigh on Dow

  U.S. stocks traded mixed on Tuesday as investors digested fresh inflation data and the kickoff of bank earnings season. The Nasdaq Composite jumped 0.8% , powered by a rally in semiconductor stocks, while the Dow Jones Industrial Average slipped 0.3% amid concerns over rising prices and uneven financial sector results. Key Drivers: Nvidia (NVDA) soared nearly 5% after announcing plans to resume AI chip sales to China, following a green light from the U.S. government. The move sparked a broader rally in chipmakers, with AMD and Micron also posting strong gains. The Consumer Price Index (CPI) rose 0.3% month-over-month and 2.7% year-over-year in June, signaling a slight acceleration in inflation. Core CPI, excluding food and energy, climbed 2.9% annually. Bank earnings painted a mixed picture: JPMorgan and Citigroup beat expectations, while Wells Fargo fell short, cutting its net interest income forecast. BlackRock also reported record assets under management but saw its ...

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Major Media and Sports Entities Exit X Over Toxic Content and Hate Speech


In a significant move, Spain’s prominent newspaper La Vanguardia and German Bundesliga club St. Pauli have both announced their departure from the social media platform X, formerly known as Twitter, citing concerns over toxic content and hate speech.

La Vanguardia, Spain’s fourth most-read newspaper, declared its decision to stop posting on X, criticizing the platform for becoming an “echo chamber” of disinformation and conspiracy theories. The newspaper’s editor, Jordi Juan, highlighted the proliferation of bots and the lack of effective moderation as key reasons for their exit. This decision follows a similar move by the British newspaper, The Guardian, which also left the platform earlier this week due to disturbing content, including racism and conspiracy theories.

Similarly, St. Pauli, known for its alternative fan scene and left-wing supporter base, announced its withdrawal from X, labeling the platform as an “amplifier of hate” that could influence German politics. The club criticized Elon Musk’s management of the platform, accusing it of allowing unchecked spread of racism and conspiracy theories. St. Pauli will now communicate through the BlueSky platform, leaving its historical content on X but ceasing further updates.

These departures underscore growing concerns about the impact of social media platforms on public discourse and the spread of harmful content.


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