Chanakya Niti: Golden rules to follow before sleeping for good luck
Chanakya was one of the wisest men of ancient India. He created life rules known as Chanakya Neeti, which guide people on how to live a successful and wealthy life.
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Elon Musk bows to Trump: Tesla boss admits posts attacking the president 'went too far' in humiliating climb down after their spectacular feud
Elon Musk has said that he regrets some of the posts he made last week about Donald Trump in a humiliating climbdown from his online feud with the president. 'I regret some of my posts about President Donald Trump last week. They went too far,' Musk wrote in a message on his social media platform X on Wednesday. He did not say which specific posts he was talking about. Tesla shares in Frankfurt were up 2.44% after Musk's post. Trump and Musk exchanged insults last week after the former DOGE boss described the president's sweeping tax and spending bill as a 'disgusting abomination.' A full spat exploded in public as Trump said his relationship with Musk was over, threatening to take away government funding from Musk's SpaceX company. But Musk doubled down, escalating with a now-deleted post that claimed the president appears in documents related to the late sex offender Jeffrey Epstein. Trump rejected the allegations and told ABC News that Musk had 'lost his mind', making clear he has no immediate plans to reconcile. Musk has also since deleted a post signaling support for impeaching the president. Sources close to Musk had said his anger has started to subside, and that they believe he may want to repair his relationship with Trump. The abrupt volte-face comes after Trump threatened 'serious consequences' for Musk if he sought to punish Republicans voting in favour of the controversial spending bill. Some lawmakers who were against the bill had called on Musk to fund primary challenges against Republicans who voted for the legislation. Musk bankrolled a large part of Trump's 2024 presidential campaign. Trump named Musk to head an effort to downsize the federal workforce and slash spending. 'He'll have to pay very serious consequences if he does that,' Trump, who also branded Musk 'disrespectful,' told NBC News on Saturday, without specifying what those consequences would be. There were reports that said Trump planned to sell off the Tesla he purchased earlier this year. 'I haven't heard that, I mean, I may move the Tesla around a little bit,' Trump told reporters Monday. Musk's father said on Monday that the spat was triggered by months of intense stress on both sides, and that it needed to stop. Asked whether he thought his son had made a mistake by engaging in a public clash with the president, Errol Musk said people were sometimes unable to think as clearly as they should 'in the heat of the moment.' 'They've had five months of intense stress,' Musk told Reuters at a conference in Moscow organised by conservative Russian tycoons. Elon Musk was asked about The New York Times story during his May 30th going away event in the Oval Office alongside the president. He pushed back and mocked the newspaper for its 'Russiagate' coverage, but later denied the Times' report on his social media site, X 'With all the opposition cleared and two people left in the arena, all they have ever done is get rid of everything and now they are trying to get rid of each other - well that has to stop.' Asked how it would end, he said: 'Oh, it will end on a good note - very soon.' Musk's father told reporters he was standing by his son. 'Elon is sticking to his principles but you cannot always stick to your principles in the real world,' Musk's father said. 'Sometimes you have to give and take.' Trump has, in recent days, held back on criticising Musk and publicly wished him the best. On Monday, the president was asked about a New York Times report that said while campaigning for Trump, Musk had been doing so much ketamine it was affecting his bladder, while also taking Ecstasy and psychadelic mushrooms. Trump said: 'I really don't know, I don't think so, I hope not.' He then added, 'I wish him well ... I just wish him well, very well, actually.' He also said he'd keep Musk's Starlink system in place. Trump also said he never saw Musk get physical with Treasury Secretary Scott Bessent, which had also been alleged. 'No I didn't,' the president answered. 'They did have an argument, but I didn't see a lot of physicality there,' Trump said. Musk had roundly denied the allegations of drug use.
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CNBC
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The latest CPI report showed some softening in inflation. What investors are saying
Wall Street got a favorable inflation report on Wednesday, giving equities a boost. The consumer price index rose 0.1% in May , slightly less than the 0.2% increase economists polled by Dow Jones anticipated. So-called core CPI, which strips out volatile food and energy prices, increased by 0.1% — also less than expected. Stocks reacted positively, with S & P 500 futures erasing an earlier decline to trade about 0.2% higher. Some investors noted continued uncertainty around the Federal Reserve's interest rate outlook, despite the latest price report. Here's how some investors, economists and strategists reacted to the news: Chris Rupkey, chief economist at FWDBonds: "Net, net, the inflation shock wave from more costly imported goods has yet to arrive on American shores. Today's consumer inflation report is a real head-scratcher for economists as they ponder why the trade war hasn't set off another inflation outbreak yet with core goods prices sitting on store shelves seeing no change in May." Alexandra Wilson-Elizondo, global co-CIO of multi-asset Solutions at Goldman Sachs Asset Management: "Inflation in May was lower than anticipated, suggesting the tariffs aren't having a large immediate impact because companies have been using existing inventories or slowly adjusting prices due to uncertain demand. While we might see some price increases on goods later, service prices are expected to remain stable, suggesting any rise in inflation is likely to be temporary." Ian Lyngen, head of U.S. rates at BMO Capital Markets: "CPI surprised on the downside across the board. … The yield curve is bull steepening as the slower trajectory of inflation has firmed rate cut expectations for later this year. On the margin, it is also supportive of next week's [Federal Reserve Summary of Economic Projections] signaling 50 bp of cuts in 2025." Ryan Weldon, investor director and portfolio manager at IFM Investments: "The softer services inflation lends itself to a slowing economy in the face of continued tariff anxiety and will support the Fed to come out of their wait-and-hold approach sooner. However, the Fed will still want to see several months of consistent inflation and jobs data and have more clarity on the Trump administration's tariff policy before resuming cuts." Chris Zaccarelli, chief investment officer at Northlight Asset Management: "With lower-than-expected numbers across the board (with the exception of headline YoY, which stayed constant), and a trade deal with China that was agreed to in London, the narrative around tariff-induced inflation should subside. However, CPI remains above 2% and even though the tariff rates are going to be less than originally feared, after they are implemented they will further increase the cost of goods." Skyler Weinand, chief investment officer at Regan Capital: "Wednesday's weaker-than-expected CPI opens the door to a Fed rate cut in September, since it's clear that the inflation data continues to move in the right direction even as we deal with tariff uncertainty. While employment is strong and the economic effects from tariffs are yet to be determined, the Fed would like to start easing again in the not too distant future to get in front of a possible recession in 2026" Peter Boockvar, chief investment officer at Bleakley Financial Group: "Bottom line, a sigh of relief on the lower than expected inflation stats just as we search for where tariffs will work its way through the supply chain and end customer."
