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Axios
2 hours ago
- Entertainment
- Axios
Twin Cities weekend: Giant pencil sharpening, Edina Art Fair, Prince celebration
It's that time of year again: The giant pencil at Lake of the Isles is getting its birthday sharpening. Context: Since its creation in 2022, owner John Higgins has thrown a massive annual party for the community to celebrate the 16-foot-tall pencil sculpture, carved from a tree in Higgins' front yard by chainsaw sculptor Curtis Ingvoldstad. Previous years have included "human pencil" dancers, a drum line, T-shirt cannons, professional pencil sharpener David Rees, speeches on scrolls presented by barristers and free ice cream. What to expect: The 4-foot-long giant pencil sharpener will make an appearance, but the rest of the programming is largely a mystery — though according to Higgins, the customary complimentary pencils handed out at the event will be purple in honor of Prince's birthday. 📍 Details: Saturday, June 7 from 1-2:30pm at 2217 E. Lake of the Isles Parkway, Minneapolis, rain or shine. Free! More things to do ... 💜 Remember Prince's legacy at Paisley Park and downtown Minneapolis' Celebration 2025 Thursday-Sunday. This year's event honors "the vibrant era of 1985" and includes access to panels, concerts, dance parties, exclusive listening sessions of unreleased audio and more. Packages for the four-day festival start at $752.75 🎨 The Edina Art Fair returns Friday-Sunday at 50th & France with over 250 local and national artists alongside live music, three beer and wine gardens, plenty of food trucks and a specialty culinary artisan marketplace. 🌈 Kick off Pride month in the suburbs this Saturday as Golden Valley and Anoka both hold their city-wide celebrations.
Yahoo
7 days ago
- Business
- Yahoo
Stocks lose steam as courts swing back and forth on Trump tariffs
euphoria over another possible tariff freeze dissipated on Thursday. Stocks closed modestly higher, pulled up by Nvidia's earnings, while bond yields fell. Investors are losing some of their jumpiness over tariff uncertainty. A rally that started early in the day sparked by a court decision invalidating most of the Trump administration's tariffs ran out of steam late in the day, just in time for an emergency appeals court ruling allowing Trump to keep collecting the duties, for now. The S&P 500 gained 0.4%, giving up most of its earlier gains. The Dow rose 0.15% and the Nasdaq gained 0.4%. Late Thursday, the Court of Appeals for the Federal Circuit granted an emergency motion from the Trump administration, allowing it to keep collecting tariffs on the argument they are 'critical for the country's national security.' The decision halts a ruling from the U.S. Court of International Trade on Wednesday that found President Trump didn't have authority to impose most of his tariffs. For now, 'there is still plenty of uncertainty about future tariffs on U.S. imports. So a really big boost to equities may not be on the cards,' wrote John Higgins, chief markets economist at Capital Economics. Policy analysts have noted that Trump can use other legal avenues to achieve tariffs, and the White House said it plans to appeal the court's ruling to the Supreme Court, which has allowed Trump wide latitude in his executive actions. 'Investors know this act by heart,' Stephen Innes of SPI Asset Management said earlier in a note seen by AP. 'The volatility is still there, but like a horror franchise on its fifth sequel, the jump scares are losing their bite.' Nvidia gained 2.8% after beating Wall Street's expectations for revenue on Wednesday, pulling the broad index along with it. E.l.f. Beauty gained 23% after acquiring direct-to-consumer makeup company Rhode. gained 24% after announcing a major Pentagon contract on Wednesday. This story was originally featured on
CNA
23-05-2025
- Business
- CNA
Global equity funds post their biggest weekly outflow in six weeks
Global equity funds have seen weekly outflows for the first time in six weeks, pressured by rising U.S. Treasury yields and mounting concerns over the U.S. debt burden and tax-cut legislation, following Moody's downgrade of the U.S. sovereign credit rating. According to LSEG Lipper, global equity funds saw $9.4 billion in net outflows, a sharp reversal from more than $20 billion in inflows the previous week. U.S. equity funds led the retreat, with $11 billion in redemptions, followed by $4.6 billion from Asian funds. European equity funds, on the other hand, received $5.4 billion in inflows. "We suspect investors will be more cautious about piling into the U.S. stock market after the turmoil in April, especially given concerns around fiscal policy," said John Higgins, chief markets economist at Capital Economics. "Those worries have coincided with another surge in long-dated Treasury yields this week following Moody's downgrade of the U.S.' sovereign credit rating and a poorly received 20-year auction," he said. The 30-year Treasury yield climbed to a 19-month high on Thursday, coming within a few basis points of its highest level since 2007, after the House of Representatives passed a tax-and-spending package that intensified debt concerns. In contrast to equities, global bond funds attracted $21.6 billion in inflows, indicating that investors see bonds as appealing at current yield levels. U.S. bond funds took in $7.6 billion, European bond funds added $11 billion, and Asian bond funds saw $1.8 billion in net inflows. By category, U.S. government bond funds received $2.8 billion, U.S. high-yield bond funds drew $1.2 billion, and European corporate bond funds gained $1.5 billion. Money market funds also rebounded, taking in $18.1 billion, following $34 billion in outflows the previous week. However, gold and precious metals commodity funds saw $1.7 billion in outflows, marking their third consecutive week of redemptions. Emerging market (EM) bond funds extended their winning streak with a fourth straight week of inflows, adding $403 million, while EM equity funds posted minor outflows. Still, EM equity funds have attracted $10.6 billion year-to-date, a 43 per cent increase from the same period last year. "The renewed interest in EM is partially due to the concern people have about the end of U.S. exceptionalism and lack of visibility with regards to U.S. ambition," said Alison Shimada, portfolio manager at Allspring Global Investments.
Yahoo
23-05-2025
- Business
- Yahoo
Global equity funds post their biggest weekly outflow in six weeks
(Reuters) -Global equity funds have seen weekly outflows for the first time in six weeks, pressured by rising U.S. Treasury yields and mounting concerns over the U.S. debt burden and tax-cut legislation, following Moody's downgrade of the U.S. sovereign credit rating. According to LSEG Lipper, global equity funds saw $9.4 billion in net outflows, a sharp reversal from more than $20 billion in inflows the previous week. U.S. equity funds led the retreat, with $11 billion in redemptions, followed by $4.6 billion from Asian funds. European equity funds, on the other hand, received $5.4 billion in inflows. "We suspect investors will be more cautious about piling into the U.S. stock market after the turmoil in April, especially given concerns around fiscal policy," said John Higgins, chief markets economist at Capital Economics. "Those worries have coincided with another surge in long-dated Treasury yields this week following Moody's downgrade of the U.S.' sovereign credit rating and a poorly received 20-year auction," he said. The 30-year Treasury yield climbed to a 19-month high on Thursday, coming within a few basis points of its highest level since 2007, after the House of Representatives passed a tax-and-spending package that intensified debt concerns. In contrast to equities, global bond funds attracted $21.6 billion in inflows, indicating that investors see bonds as appealing at current yield levels. U.S. bond funds took in $7.6 billion, European bond funds added $11 billion, and Asian bond funds saw $1.8 billion in net inflows. By category, U.S. government bond funds received $2.8 billion, U.S. high-yield bond funds drew $1.2 billion, and European corporate bond funds gained $1.5 billion. Money market funds also rebounded, taking in $18.1 billion, following $34 billion in outflows the previous week. However, gold and precious metals commodity funds saw $1.7 billion in outflows, marking their third consecutive week of redemptions. Emerging market (EM) bond funds extended their winning streak with a fourth straight week of inflows, adding $403 million, while EM equity funds posted minor outflows. Still, EM equity funds have attracted $10.6 billion year-to-date, a 43% increase from the same period last year. "The renewed interest in EM is partially due to the concern people have about the end of U.S. exceptionalism and lack of visibility with regards to U.S. ambition," said Alison Shimada, portfolio manager at Allspring Global Investments. (Reporting By Patturaja Murugaboopathy in Bengaluru)
Reuters
23-05-2025
- Business
- Reuters
Global equity funds post their biggest weekly outflow in six weeks
May 23 (Reuters) - Global equity funds have seen weekly outflows for the first time in six weeks, pressured by rising U.S. Treasury yields and mounting concerns over the U.S. debt burden and tax-cut legislation, following Moody's downgrade of the U.S. sovereign credit rating. According to LSEG Lipper, global equity funds saw $9.4 billion in net outflows, a sharp reversal from more than $20 billion in inflows the previous week. U.S. equity funds led the retreat, with $11 billion in redemptions, followed by $4.6 billion from Asian funds. European equity funds, on the other hand, received $5.4 billion in inflows. "We suspect investors will be more cautious about piling into the U.S. stock market after the turmoil in April, especially given concerns around fiscal policy," said John Higgins, chief markets economist at Capital Economics. "Those worries have coincided with another surge in long-dated Treasury yields this week following Moody's downgrade of the U.S.' sovereign credit rating and a poorly received 20-year auction," he said. The 30-year Treasury yield climbed to a 19-month high on Thursday, coming within a few basis points of its highest level since 2007, after the House of Representatives passed a tax-and-spending package that intensified debt concerns. In contrast to equities, global bond funds attracted $21.6 billion in inflows, indicating that investors see bonds as appealing at current yield levels. U.S. bond funds took in $7.6 billion, European bond funds added $11 billion, and Asian bond funds saw $1.8 billion in net inflows. By category, U.S. government bond funds received $2.8 billion, U.S. high-yield bond funds drew $1.2 billion, and European corporate bond funds gained $1.5 billion. Money market funds also rebounded, taking in $18.1 billion, following $34 billion in outflows the previous week. However, gold and precious metals commodity funds saw $1.7 billion in outflows, marking their third consecutive week of redemptions. Emerging market (EM) bond funds extended their winning streak with a fourth straight week of inflows, adding $403 million, while EM equity funds posted minor outflows. Still, EM equity funds have attracted $10.6 billion year-to-date, a 43% increase from the same period last year. "The renewed interest in EM is partially due to the concern people have about the end of U.S. exceptionalism and lack of visibility with regards to U.S. ambition," said Alison Shimada, portfolio manager at Allspring Global Investments.
