Latest news with #Ladner


New Straits Times
25-06-2025
- Business
- New Straits Times
Wall St rallies, S&P 500 nears record high as Middle East tensions cool
NEW YORK: Wall Street advanced on Tuesday as investors welcomed a fragile truce with Israel and Iran while parsing Federal Reserve Chair Jerome Powell's congressional testimony for clues regarding the US central bank's path forward. All three major US stock indexes were on track for their second straight session of solid gains following US missile strikes on Iran's uranium enrichment assets. The benchmark S&P 500 was less than 1 per cent below its all-time closing high reached on February 19. Late Monday, US President Donald Trump announced a cease-fire agreement, which Israel appeared to have violated. Still, investors viewed the cease-fire rhetoric as a sign of de-escalating tensions. "The market has learned very precisely over the last generation that any time there's a geopolitical flare-up in the Middle East that affects US financial markets, those effects will be short-lived," said Scott Ladner, chief investment officer at Horizon in Charlotte, North Carolina. "The cease-fire is just cementing that view," Ladner added. Crude prices slid on waning supply concerns related to the conflict, dragging energy shares lower. Powell, speaking before the US House of Representatives Financial Services Committee, reiterated his view that rate cuts can wait until the economic effects of tariff increases are better known, adding "we are well positioned to wait to learn more about the likely course of the economy before considering any adjustments to our policy stance." Financial markets have been pricing in a more than 20 per cent likelihood that the Fed will lower its key interest rate at the conclusion of its upcoming July policy meeting, and a near 70 per cent probability that its first rate cut will land in September. "We think September's very likely and we think while July is not a zero probability event, it's definitely a long shot," Ladner said. On the economic front, Consumer Confidence deteriorated this month, with pessimism toward the jobs market falling to its lowest level since March 2021. The Commerce Department is expected to release its final take on first-quarter GDP on Thursday, and on Friday its closely watched Personal Consumption Expenditures (PCE) report will shed light on inflation, consumer spending and income growth. The Dow Jones Industrial Average rose 513.96 points, or 1.21 per cent, to 43,095.74, the S&P 500 gained 71.64 points, or 1.19 per cent, to 6,096.94 and the Nasdaq Composite gained 305.28 points, or 1.56 per cent, to 19,936.25. Among the 11 major sectors of the S&P 500, Tech shares led the gainers, while energy stocks were the sole decliners. Among megacap stocks, Tesla shares shed 2.0 per cent. Airline stocks gained altitude amid cooling Middle East tensions. The S&P 1500 Airlines index advanced 2.3 per cent. But defense stocks lost ground, with Lockheed Martin and RTX Corp both off about 2.9 per cent. Shares of crypto companies rose after bitcoin hit a one-week high. Coinbase Global and Strategy advanced 11.7 per cent and 3.8 per cent respectively. Broadcom touched a record high, after HSBC raised the semiconductor manufacturer to "buy" from "hold". The stock was last up 3.4 per cent. Package delivery firm FedEx is expected to report quarterly results after the closing bell. Advancing issues outnumbered decliners by a 3.38-to-1 ratio on the NYSE. There were 195 new highs and 49 new lows on the NYSE. On the Nasdaq, 3,430 stocks rose and 1,007 fell as advancing issues outnumbered decliners by a 3.41-to-1 ratio. The S&P 500 posted 18 new 52-week highs and no new lows while the Nasdaq Composite recorded 109 new highs and 49 new lows.


Business Wire
24-06-2025
- Climate
- Business Wire
Pennsylvania American Water Provides Tips for Conserving Water This Summer
MECHANICSBURG, Pa.--(BUSINESS WIRE)--As summer temperatures rise and watering demands increase, Pennsylvania American Water is offering water conservation tips. 'With summer upon us, it's more important than ever to use water wisely,' said Justin Ladner, president of Pennsylvania American Water. "We encourage our customers and the public to reduce outdoor watering, especially after it rains, and to adopt smart irrigation practices. It's our collective responsibility to reduce water consumption and take proactive steps to protect our water supply.' Many people unintentionally water their lawns during peak evaporation times or use more water than necessary to maintain a healthy yard. According to the Environmental Protection Agency (EPA), an estimated 50% of outdoor water usage is wasted. This is why it's important to use water wisely, both indoors and outdoors. Doing so supports conservation efforts and helps ensure that safe, clean and reliable water is available for customers and future generations. From adjusting your watering schedule to fixing household leaks, every drop counts. Here are some helpful tips: Water early in the morning, later in the day or even at night to minimize evaporation. As much as 30% of water can be lost by watering during midday. Make use of rainwater by collecting it in rain barrels for use on outdoor plants and gardens. Check sprinkler heads to help ensure water isn't being wasted on pavement or unwanted areas. Use a broom instead of a hose to clean patios, driveways and sidewalks. Mulch garden beds to retain moisture and prevent weeds. A two- to three-inch layer is typically effective. Set your mower higher. Grass cut to 2.5 to 3.5 inches is more drought-resistant and healthier overall. Check for leaks. Even small leaks can waste thousands of gallons of water each year. 10% of homes have leaks that waste 90 gallons or more per day. Ladner added that reduced water usage can also help decrease water bills. 'Actively monitoring and making an effort to use less water in the warm weather months can also keep the usage portion of your water bills lower, helping customers to save money.' Pennsylvania American Water customers can monitor their water usage and find ways to use water more wisely online through their MyWater account. For more water saving tips, click here. For information about the company's H2O Help to Others customer assistance program, visit About American Water American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to more than 14 million people with regulated operations in 14 states and on 18 military installations. American Water's 6,700 talented professionals leverage their significant expertise and the company's national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders. For more information, visit and join American Water on LinkedIn, Facebook, X and Instagram. About Pennsylvania American Water Pennsylvania American Water, a subsidiary of American Water, is the largest regulated water utility in the state, providing safe, clean, reliable and affordable water and wastewater services to approximately 2.4 million people.
Yahoo
24-06-2025
- Climate
- Yahoo
Pennsylvania American Water Provides Tips for Conserving Water This Summer
MECHANICSBURG, Pa., June 24, 2025--(BUSINESS WIRE)--As summer temperatures rise and watering demands increase, Pennsylvania American Water is offering water conservation tips. "With summer upon us, it's more important than ever to use water wisely," said Justin Ladner, president of Pennsylvania American Water. "We encourage our customers and the public to reduce outdoor watering, especially after it rains, and to adopt smart irrigation practices. It's our collective responsibility to reduce water consumption and take proactive steps to protect our water supply." Many people unintentionally water their lawns during peak evaporation times or use more water than necessary to maintain a healthy yard. According to the Environmental Protection Agency (EPA), an estimated 50% of outdoor water usage is wasted. This is why it's important to use water wisely, both indoors and outdoors. Doing so supports conservation efforts and helps ensure that safe, clean and reliable water is available for customers and future generations. From adjusting your watering schedule to fixing household leaks, every drop counts. Here are some helpful tips: Water early in the morning, later in the day or even at night to minimize evaporation. As much as 30% of water can be lost by watering during midday. Make use of rainwater by collecting it in rain barrels for use on outdoor plants and gardens. Check sprinkler heads to help ensure water isn't being wasted on pavement or unwanted areas. Use a broom instead of a hose to clean patios, driveways and sidewalks. Mulch garden beds to retain moisture and prevent weeds. A two- to three-inch layer is typically effective. Set your mower higher. Grass cut to 2.5 to 3.5 inches is more drought-resistant and healthier overall. Check for leaks. Even small leaks can waste thousands of gallons of water each year. 10% of homes have leaks that waste 90 gallons or more per day. Ladner added that reduced water usage can also help decrease water bills. "Actively monitoring and making an effort to use less water in the warm weather months can also keep the usage portion of your water bills lower, helping customers to save money." Pennsylvania American Water customers can monitor their water usage and find ways to use water more wisely online through their MyWater account. For more water saving tips, click here. For information about the company's H2O Help to Others customer assistance program, visit About American WaterAmerican Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to more than 14 million people with regulated operations in 14 states and on 18 military installations. American Water's 6,700 talented professionals leverage their significant expertise and the company's national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders. For more information, visit and join American Water on LinkedIn, Facebook, X and Instagram. About Pennsylvania American WaterPennsylvania American Water, a subsidiary of American Water, is the largest regulated water utility in the state, providing safe, clean, reliable and affordable water and wastewater services to approximately 2.4 million people. View source version on Contacts Media Contact: David MisnerSenior Manager, External Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data


Irish Independent
07-06-2025
- Business
- Irish Independent
Irish shares hit all-time high despite tariff uncertainty
The Iseq 20 index of leading Irish shares hit a record high of 1963.01 yesterday, slipping back only slightly before closing at 1,956.02. The index is made up of the leading shares on the Euronext Dublin exchange, including heavyweights Ryanair, Kerry, Kingspan and Glanbia as well as AIB and Bank of Ireland. Shares hit their high after the European Central Bank (ECB) cut rates for an eighth time in 12 months on Thursday, a move that would traditionally be seen as a boost to investment, credit and consumer confidence. The MSCI global index, which draws on leading shares from across the developed world, hit an all-time high on Tuesday, boosted by particularly strong gains for Germany's Dax index. In Ireland, the Iseq 20 index only at the start of this year recovered to levels seen in 2007, at the peak of the Celtic Tiger, unlike most European and US markets where shares have long since pushed higher over the past decade. However, the composition of the Irish shares indices has also radically changed, not just since 2007 – when bank shares crashed – but in the past three years as heavyweight stocks like CRH, Flutter and Smurfit Kappa shifted their listings to the US, shrinking the potential size of the Irish index. The Irish high this week was in line with global and European trends. Wall Street rebounded yesterday after a generally upbeat employment report, and a bounce-back in Tesla shares helped put the indexes on track for weekly advances. In the US, jobs numbers yesterday were relatively weak but not as bad as feared, and markets shifted higher in response. This is a sigh of relief report The US economy added 139,000 jobs in May while the unemployment rate held firm at 4.2pc, according to the Labour Department. 'This is a sigh of relief report; people were really worried that this was going to be a kind of start of a downturn in the labour market and therefore start the downturn in the economy,' said Scott Ladner, chief investment officer at Horizon Investments in Charlotte, North Carolina. 'It came in pretty much on the screws and we've got a bit of a reprieve, at least for a month. That's leading to a pretty large relief rally,' Mr Ladner added. In Ireland and across the globe, investors are increasingly looking past the near-term risk of Donald Trump imposing further destabilising tariffs and anti-trade measures, and are focused on the underlying economy, which has so far shrugged off any real negative fallout. How long that can be sustained remains to be seen. Bank of America's influential strategist Michael Hartnett warned yesterday that global stocks are getting close to triggering a technical 'sell' signal, saying the market is running too hot after surging 20pc in just two months. He cited data points on fund flows and market breadth as evidence that investors have been rushing into risk assets and positioning is getting stretched. Traders often use that as a marker because it can theoretically indicate that the buying power in the market is likely to soon be exhausted, leaving prices vulnerable to a pullback. At the same time, the market is approaching 'overbought territory,' he said. The Bank of America data highlights a nervousness among traders about the rapid pace of recent stock gains. The combination of the Trump administration's tax-cut package to boost growth, plus a softer stance on tariffs and robust economic data, has fanned optimism. US equity futures rallied yesterday after the monthly jobs report came in stronger than expected. In Europe, the new German government's push to support industry as well as ECB easing of credit has fed into the rising stock markets. However, major risks are hovering close to the surface. Mr Trump has set a July 9 deadline for talks with the European Union to produce a trade deal, threatening a 50pc tariff on European goods if they fail. The White House has yet to lock in trade terms with China, Japan or Canada. Meanwhile, Mr Trump's public falling out with Elon Musk has been playing on stock markets as the main driver of swings in Tesla's share price, both higher and lower at different times this week.


CNBC
23-05-2025
- Business
- CNBC
Trump's trade war to weigh on markets again next week as investors struggle to move on
President Donald Trump's latest tariff threat again highlighted the challenge for investors eager to move on from a global trade war that can reassert itself at any moment. Stocks dropped Friday, after Trump in a Truth Social post said he would slap a 50% tariff on the European Union starting June 1, while separately warning Apple that it would have to start paying a 25% levy on iPhones not made in the U.S. The Dow Jones Industrial Average tumbled as much as 505 points, or 1.2%, before bouncing back. The S & P 500 and Nasdaq Composite were also lower on the day. The tariff rollercoaster is going to make investors lose their appetite for buying dips because every time the market rebounds, they get kicked in the teeth. President at ClientFirst Strategy Mitchell Goldberg Some investors are finding Trump's threats hard to take seriously, seeing them as a negotiating tactic for a president unhappy with the lack of progress made on trade talks with the EU — even as the latter was the U.S.'s largest trading partner by imports in 2024. "This reaction is probably not going to be as bad as the post-'liberation day' reaction, just because the market now kind of has as part of its assumption the idea that Trump will end up caving," said Scott Ladner, chief investment officer at Horizon Investments. "So, that's kind of part of the playbook at this point." Still, Trump's warning is a reminder that the overarching threat of tariffs, which investors had mostly left on the backburner, will continue to be an issue for the stock market, possibly for the duration of Trump's presidency. Tom Graff, chief investment officer at Facet Wealth, said Trump's instincts to "take a maximalist approach ... ratchets up the risk of a bad outcome." Since the April 7 intraday lows, the S & P 500 has soared more than 20%. On Friday, however, the broader index was headed for a weekly pullback of more than 2%, hurt by the latest trade headlines. Earlier in the week, U.S. deficit concerns drove a spike higher in bond yields that also added pressure to equities. .SPX 5D mountain SPX 5-day chart There are other complications. Horizon Investments' Ladner, who does not expect that stocks will retest the April lows, worries that negotiations with the EU will take longer than investors are currently anticipating. He cited Trump's long antipathy toward the region. Trump posted Friday that the EU was "formed for the primary purpose of taking advantage of the United States on TRADE." "I don't think he's gonna be as inclined to cave on the European thing that he was on the China situation, just because of his sort of personal feelings," Ladner said. "And we know that Trump shoots from the hip, and his personal feelings and instincts have a lot to do with his decision making process." "There is some chance the Trump will cave, but, you know, it probably is going to take longer than the China deal did to get some sort of resolution on this," Ladner continued. What's more, there's also the impact of Trump's repeated threats on weary investors who have repeatedly bought the dip throughout the tariff market chaos only to suffer through drops tied to the latest news on trade. "The tariff rollercoaster is going to make investors lose their appetite for buying dips because every time the market rebounds, they get kicked in the teeth," wrote Mitchell Goldberg, president at ClientFirst Strategy. Nvidia Nvidia is set to report earnings Wednesday after the bell. Investors are hoping that strong results and a hopeful outlook from the artificial intelligence darling could boost the recent outperformance in tech. Nvidia remains in negative territory for 2025 has rallied 20% this month. A stellar report could add to those gains, but any sign that the Jensen Huang-helmed company is struggling to deliver on its GPUs could dent investor confidence. "Nvidia, and everything surrounding Nvidia: I believe that these stocks can are the really the only ones that have that potential growth to really break us out of this sort of place where we have been, which is sort of struggling to get back to where we were, let's say, last November," said Mark Malek, CIO at Siebert Financial. Strong earnings from Nvidia would also come at an opportune time for the stock market, which has struggled over this week because of higher bond yields. On Friday, the major averages were headed for a losing week, with all three major averages lower by nearly 2%. — CNBC's Michelle Fox and Fred Imbert contributed to this report. Week ahead calendar All times ET. Monday, May 26 NYSE closed for Memorial Day holiday. Tuesday, May 27 8:30 a.m. Durable Orders preliminary (April) 9:00 a.m. FHFA Home Price Index (March) 9:00 a.m. S & P/Case-Shiller comp.20 HPI (March) 10:00 a.m. Consumer Confidence (May) 10:30 a.m. Dallas Fed Index (May) Earnings: AutoZone Wednesday, May 28 10:00 a.m. Richmond Fed Index (May) 2:00 pm. FOMC Minutes Earnings: Nvidia , HP , Synopsys , Agilent Technologies , Salesforce Thursday, May 29 8:30 a.m. Continuing Jobless Claims (05/17) 8:30 a.m. GDP second preliminary (Q1) 8:30 a.m. Initial Claims (05/24) 10 a.m. Pending Home Sales Index (April) Earnings: Costco Wholesale , Ulta Beauty , Dell Technologies , NetApp , Hormel Foods Friday, May 30 8:30 a.m. Core PCE Deflator (April) 8:30 a.m. PCE Deflator (April) 8:30 a.m. Personal Consumption Expenditure (April) 8:30 a.m. Personal Income (April) 8:30 a.m. Wholesale Inventories preliminary (April) 9:45 a.m. Chicago PMI (April) 10 a.m. Michigan Sentiment final (May)