Latest news with #Cardillo
Axios
21-05-2025
- Science
- Axios
Robert Cardillo: The world is "owned by those who ask"
Robert Cardillo, the chief strategist and chairman of the board at satellite imagery firmPlanet Federal, wants you to be rested and inquisitive. Asked in an interview with Axios what advice he'd give his younger self, he offered: "My quick answer is get more sleep. But I strongly believe the world is owned by those who ask." "If you keep that unasked question in your head, it's not doing anyone any good," he said. "Just the two words 'why not' or the one word 'why' can be very useful." Why he matters: Cardillo has decades of experience in national security. He's a former director of the National Geospatial-Intelligence Agency and former deputy director of the Defense Intelligence Agency. He's also a familiar face at the annual GEOINT Symposium, held this year in St. Louis. Q: When you hear "future of defense," what comes to mind? A: What comes to my mind is that we're able to reimagine the necessity to be secure, to protect life and liberties and pursuits in a way that leverages evolving technologies. It has frustrated me inside government with some of the barriers that we put up to that end. Now that I'm on the other side, on the industry side, I see those barriers from a different point of view. I'm generally an optimist, by my nature, and I remain optimistic about the future of defense. But, boy, it takes too long, and the system just sometimes can't get out of its own way. Q: When will wars be waged solely by robots? A: Well, I don't want to be around, and I wonder about humanity when that happens. I'm a big fan of the term "human on the loop." I thought "human in the loop" was one too high a bar, given the speed of technology. But I remain committed to my belief that the human has to be on the loop. If the robots are deciding to go to war, we have a much bigger problem. When are they going to decide to stop? Why would they stop with other robots? Et cetera. Q: What's a national security trend we aren't paying enough attention to? A: Water. I think people obviously understand the importance of water rights and the necessity to core human existence. I worry that we don't think hard enough about the security and stability implications of an eroding confidence in having access to water. Q: What region of the world should we be watching? Why? A: I'm a big believer that India is the next big thing. I have great admiration for the leap that they are in the midst of making. I think India's core democratic principles will advantage it going forward, to create a successful, long-term, enduring value proposition. A: A couple hundred? I unfortunately have a number of accounts. Personal. A couple of works. One nonprofit. So that's a problem.
CNA
30-04-2025
- Business
- CNA
US and global stocks slump on GDP decline, crude prices sink
NEW YORK : Wall Street stocks veered sharply lower, pulling their European counterparts down too as investor risk appetite waned following a negative U.S. GDP reading, a spate of disappointing economic data and mixed earnings reports. With no discernible progress in tariff negotiations, U.S. benchmark Treasury yields were headed for their seventh straight session of declines. The dollar strengthened, and crude oil prices headed lower. All three major U.S. stock indexes were deep in negative territory, with the tech-laden Nasdaq down the most. On the last day of April, all three U.S. stock indexes were on course for their third straight monthly losses. Economic data showed U.S. GDP contracted in the first three months of 2025. U.S. President Donald Trump blamed his Democratic predecessor, Joe Biden, and said his tariffs would eventually bring a booming economy. But Peter Cardillo, Chief Market Economist at Spartan Capital Securities in New York, placed the onus on Trump. "We got to these numbers because of Trump's policies," Cardillo said. "They've created uncertainty and when you create uncertainty, nobody's going to put their foot on the accelerator. "We're seeing that as the earnings come out," Cardillo added. "Guidance has been pulled back." Indeed, the ongoing, multi-front trade war continues to cloud U.S. corporate earnings season, with companies increasingly pulling or reducing guidance due to the fog of tariff uncertainties. Wall Street pared losses after the release of more upbeat economic indicators. Personal Consumption Expenditures (PCE) price index unchanged on a monthly basis and stronger-than-expected consumer spending. Two high-profile members of the "Magnificent Seven" group of artificial intelligence-related megacap companies, Meta Platforms and Microsoft, are expected to post results after the bell, and upbeat results would likely reverse Wednesday's selloff. "We think it's irrational for people to sell off, particularly tech stocks as hard when we got the real big kahunas reporting," said Jay Hatfield, portfolio manager at InfraCap in New York. "If we had this call tomorrow, we could be trying to explain why a market's up 2 per cent." The Dow Jones Industrial Average fell 466.73 points, or 1.15 per cent, to 40,061.02, the S&P 500 fell 83.29 points, or 1.50 per cent, to 5,477.54 and the Nasdaq Composite fell 343.74 points, or 1.97 per cent, to 17,117.58. European stocks erased previous gains following the U.S. GDP data. MSCI's gauge of stocks across the globe fell 8.10 points, or 0.97 per cent, to 823.21. The pan-European STOXX 600 index fell 0.12 per cent, while Europe's broad FTSEurofirst 300 index fell 3.70 points, or 0.18 per cent. Emerging market stocks rose 4.65 points, or 0.42 per cent, to 1,110.64. MSCI's broadest index of Asia-Pacific shares outside Japan closed higher by 0.78 per cent, to 580.07, while Japan's Nikkei rose 205.39 points, or 0.57 per cent, to 36,045.38. The dollar held its gains after a swath of mixed U.S. economic data. The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, rose 0.26 per cent to 99.42, with the euro down 0.19 per cent at $1.1363. Against the Japanese yen, the dollar strengthened 0.3 per cent to 142.75. Sterling weakened 0.5 per cent to $1.3339. The Mexican peso weakened 0.35 per cent versus the dollar at 19.626. The Canadian dollar strengthened 0.08 per cent versus the greenback to C$1.38 per dollar. After the weaker-than-expected read on first-quarter economic growth, the yield on benchmark U.S. 10-year notes fell 1 basis point to 4.164 per cent, from 4.174 per cent late on Tuesday. The 30-year bond yield rose 1.5 basis points to 4.6626 per cent from 4.648 per cent late on Tuesday. The 2-year note yield, which typically moves in step with interest rate expectations for the Federal Reserve, fell 4.5 basis points to 3.613 per cent, from 3.658 per cent late on Tuesday. Oil prices slid further, set for their largest drop in nearly 3-1/2 years as Trump's trade war eroded the demand outlook. U.S. crude fell 1.89 per cent to $59.30 a barrel and Brent fell to $63.22 per barrel, down 1.6 per cent on the day. Gold prices dipped in opposition to the dollar. Spot gold fell 0.39 per cent to $3,302.72 an ounce. U.S. gold futures fell 0.66 per cent to $3,297.00 an ounce.
