Latest news with #MichaelGraham
CNBC
27-05-2025
- Business
- CNBC
How the stock market typically performs during the summer
Memorial Day weekend marked the unofficial start to summer in the U.S., a notable period for investors who like to, as the market adage goes, " sell in May and go away ." Interestingly, a look back over the last 50 years at the S & P 500 's performance shows the three-month stretch from the Friday before Memorial Day through to the Friday before Labor Day in September has mostly been positive for equities, according to Bespoke Investment Group. "The S & P 500's median performance during this period has been a gain of 3.7%, with positive returns 72% of the time," read a note from the firm. .SPX 6M mountain S & P 500, over 6 months In fact, a closer look at the numbers shows the gains are especially pronounced when the S & P 500 was already higher year to date heading into the period, with the benchmark notching a 4.3% gain on a median basis, with positive returns 74% of the time, the firm found. On the other hand, in the 15 years when the S & P 500 was lower on the year heading into the period, the index gained just 1.4% on a median basis, with gains 67% of the time. On a historical basis, at least, that suggests the summer months this year could be more challenging for stocks. On Friday, May 23, before the Memorial Day weekend, the S & P 500 closed lower on a year-to-date basis. On Tuesday, however, the broader index was last slightly higher for the year. Other Wall Street firms are already thinking gains could be capped this summer, given that investors won't be gaining any clarity around trade until the July tariff deadline. JPMorgan's Fabio Bassi, the bank's head of cross-asset strategy, said the S & P 500 could "remain rangebound, with limited short-term upside." However, others expect that means equity weakness is contained, especially if the stock market can get past some key hurdles around trade and the U.S. deficit. Canaccord Genuity's Michael Graham said he holds a neutral view on the short-term outlook for stocks, but said he sees "a pathway toward many of these risk factors dissipating later in the summer" if investors can avoid significant tariff volatility.
Daily Mail
24-05-2025
- Sport
- Daily Mail
Sunderland fans blasted as 'disgraceful' after leaving rubbish all over Trafalgar Square as thousands of fans party in London ahead of Championship play-off final
Sunderland fans have been branded 'disgraceful' after leaving rubbish all over Trafalgar Square. As has become tradition for Sunderland supporters when their team play at Wembley, fans gathered in central London. On Saturday afternoon Sunderland are taking on Sheffield United in the Championship play-off final as the Black Cats look to secure their return to the Premier League for the first time since 2017. However, Sunderland fans have come in for criticism ahead of the clash at Wembley. Footage emerged of social media of bottles, cans, plastic bags and other litter at Trafalgar Square. A Newcastle supporter wrote on X: 'Sunderland fans making themselves at home, literally, in Trafalgar Square. Disgraceful'. Sunderland fans making themselves at home, literally, in Trafalgar Square. Disgraceful — ToonGambit (@ToonGambit) May 24, 2025 When the police made people disperse around midnight, #SAFC fans offered to stay to tidy up. Police sent them away as the clean-up teams were already on their way. — Michael Graham (@Capt_Fishpaste) May 24, 2025 Journalist Michael Graham, who supports Sunderland, explained that fans had offered to help with clearing up the litter but were instructed not to do so by police. Graham wrote on X: 'When the police made people disperse around midnight, #SAFC fans offered to stay to tidy up. Police sent them away as the clean-up teams were already on their way.' Sunderland secured their place in the Championship play-offs by finishing in fourth place in the table. They beat Coventry 3-2 on aggregate in the play-off semi-final, with Daniel Ballard scoring a dramatic stoppage time winner. After being relegated from the top flight in 2017, Sunderland then went down to League One the following year. Sunderland eventually returned to the Championship in 2022 and are now pushing for another promotion. Regis Le Bris side will be aware that they will face a tough challenge against Sheffield United but will be hopeful that they can prevail.
Yahoo
20-05-2025
- General
- Yahoo
NTSB investigating sudden acceleration in deadly Brooklyn Bridge ship crash
May 20 (UPI) -- The National Transportation Safety Board, which is investigating Saturday's deadly crash of a Mexican Navy tall ship into New York's Brooklyn Bridge, is focused on the ship's guide tugboats and sudden acceleration. The NTSB told reporters Monday that it was still working with the Mexican government and had not gained access yet to the military ship, called the Cuauhtémoc. "We are optimistic we will have that access very soon," said NTSB board member Michael Graham. Investigators revealed they are looking into whether a New York tugboat, which was guiding the Mexican ship out of port as it headed to Iceland, may have released the vessel too quickly. According to the New York Police Department, the ship lost power before striking the bridge. Video of the crash shows a tugboat racing toward the ship as it drifted in the wrong direction. "We do have a bit of time where it was maintaining a constant speed of about 2 to 2.3 knots, and the speed began to increase," said investigator-in-charge Brian Young. "That's something we will be looking into as part of our engineering assessment." "At 8:24 p.m., the VHF radio broadcast was sounded requesting assistance from other tugboats in the area of the bridge," Young said, adding that the ship had reached a speed of about 6 knots. The collision -- 45 seconds later -- broke the ship's three masts, which were 30 feet higher than the underside of the Brooklyn Bridge. There was no structural damage to the bridge, investigators confirmed. The two crew members harnessed to the 147-foot masts for the ship's traditional departure performance were killed. They were identified as América Yamilet Sanchez, 21, and Adal Jair Marcos, 22. More than 20 others were injured. None of the 277 crew members on board fell into the water. The ship was taking part in a training cruise called the "Bicentennial of the Consolidation of the Independence of the Seas," to commemorate the 200th anniversary of the Mexican navy expelling Spain. The ship set sail on May 4 from Cozumel in the Yucatan Peninsula to New York. The 170-day cruise had been scheduled to stop at 22 ports in 15 countries.
Epoch Times
20-05-2025
- General
- Epoch Times
Mexican Navy Ship Hits Brooklyn Bridge: What We Know So Far
Many of the crew members on the Mexican navy tall ship that crashed into the Brooklyn Bridge have flown home from New York, according to federal officials on Monday. Federal investigators said during a The National Safety Transportation Board (NTSB) released additional details about Saturday night's collision that killed two people and injured at least 19 others. The investigation is still in its beginning stages, and investigators have just started collecting perishable evidence, according to the NTSB. Video 'This is the start of a long process,' NTSB member Michael Graham told reporters. 'We will not be drawing any conclusions. We will not speculate. We will also not be determining the probable cause while we're on scene.' Related Stories 5/19/2025 5/19/2025 The NTSB has assembled a Timeline Based on preliminary navigational data, federal officials shared a timeline of events that led up to the incident. The Cuauhtémoc arrived on May 13 at noon and docked at Pier 17, where it remained stationed for about three days. On May 17 at 8:20 p.m., the ship began backing away from the pier with the assistance of a tugboat. The intent was to sail south down the East River and head for sea. There were 'dusk conditions' at the time, officials said, with westerly winds of 10 knots and the current at 0.3 knots. After departing the pier, the vessel increased its speed to 6 knots. The ship sent out a total of three requests for help through a radio broadcast. At 8:24 p.m., the training vessel asked for assistance from other tugboats in the area. Two additional requests followed for the same assistance. At 8:25 p.m., the ship struck the underside of the Brooklyn Bridge and came to a complete stop at 8:27 p.m. Assets with the New York Police Department (NYPD) and the New York Fire Department (NYFD) were on scene by 8:30 p.m. Cause of the Crash The NYPD initially said that a power outage related to a mechanical problem was possibly to blame for the incident, but federal officials during Monday's press conference said they don't know where police received that data. New York City Mayor Eric Adams said in a The NTSB says it will explore whether engine failure contributed to the incident. 'We will look at the status of the engine. We'll look for any failures. We'll look for engine inspections. And we'll talk to the crew on what may have possibly occurred with the engine,' NTSB engineer Brian Young told reporters. Officials also said they don't know if there were any recording devices on the ship, such as a voyage data recorder (VDR). But the NTSB team will be looking for any physical evidence on the ship that may help its investigation into the deadly collision. What's Next The damaged ship is currently docked on the east side of Manhattan. Once the vessel is deemed structurally sound, it will be moved to a salvage yard for repair. Within 30 days, the NTSB will issue a preliminary report. Investigations typically take between 12 to 24 months. As part of its investigation, the NTSB will also explore the use of a tugboat to assist other vessels in these types of scenarios. The NTSB said it's working with the Mexican government to get access to sailors who were on the ship. No discussions with the crew on board at the time of the incident have happened yet, officials said. Meanwhile, investigators continue to canvass the shoreline for surveillance footage. Anyone who witnessed the incident and recorded video is encouraged to email From
Yahoo
20-05-2025
- General
- Yahoo
Investigators give timeline of Brooklyn Bridge ship crash that left 2 dead
After several days in New York, it took less than five minutes for a Mexican Navy ship to hit the city's iconic Brooklyn Bridge, snapping the masts like matchsticks and leaving two crew members dead and over a dozen injured as crowds watched in fear from the shore. The accident Saturday night raised a slew of questions about how the tall ship – a training vessel – was able to sail in the wrong direction up the East River, instead of out to sea, and the safety of US bridges and the risks they face. Authorities on Monday gave a preliminary timeline leading up to the fatal crash but stressed it's too early to speculate on a cause. 'This is the start of a long process. We will not be drawing any conclusions. We will not speculate. We will also not be determining the probable cause while we're on scene,' National Transportation Safety Board member Michael Graham said at a news conference Monday. The image of the tall ship, outfitted with long horizontal yards attached to billowing white sails, colliding Saturday night with the bridge against a shimmering Manhattan skyline left onlookers stunned. Those who died fell from a mast, a law enforcement official told CNN. They were a cadet and sailor, Mexican President Claudia Sheinbaum said as she offered her condolences to their families and expressed solidarity with the Mexican Navy. Twenty-two people were hurt, the Mexican Navy initially said. Nearly 200 cadets have returned to Mexico but 94 crew members remain aboard the vessel, New York City Emergency Management said Monday afternoon. Two crew members are still hospitalized, Aries Dela Cruz, a spokesperson for the agency, said in a social media post. The ship will likely be repaired at a New York shipyard and return to service with the Mexican Navy, Sheinbaum said at Monday's news conference. There was no visible damage to the bridge, which only temporarily closed. The crash caused no structural damage to the span, the NTSB and the New York City Department of Transportation, which manages the crossing, said Monday. Here's what we know: The Cuauhtémoc had been docked at the South Street Seaport Museum for five days of public viewing as part of a global goodwill tour. It arrived around noon on May 13 and left Manhattan's Pier 17 on Saturday around 8:20 p.m., the NTSB said. The ship began backing away from the pier with the help of a tugboat. As it pulled away from the pier, winds were at 10 knots – around 11-12 mph – and the current was 0.3 knots toward the bridge, Brian Young, the NTSB investigator in charge, said Monday. A westerly wind of 10 mph – gusting up to 16 mph – was reported at the same time at the Robbins Reef Lighthouse on the Upper Bay, south of the Brooklyn Bridge, in New Jersey. The ship maintained a speed of about 2 knots for 'a bit of time' before it increased to 6 knots, he said. But it started moving in the 'wrong direction,' a senior city official with knowledge of the investigation told CNN. At 8:24 p.m., someone made a VHF radio broadcast requesting assistance from other tugboats in the area of the bridge, Young said. It was followed by two other requests for assistance. At 8:24 and 45 seconds, the vessel's mast struck the underside of the Brooklyn Bridge, Young said. Soon, 911 calls about the crash started coming in, and authorities began responding around 8:26 p.m., a New York City Police Department spokesperson said. A crowd of people who had gathered on the Brooklyn side of the bridge to watch the ship screamed and ran for safety. 'At 8:27, the vessel came to a stop and at 8:30, both NYPD and FDNY assests were on scene,' Young said. More than 100 fire and emergency medical service personnel responded, the New York City Fire Department said. 'We could see some people being kind of dragged,' Flavio Moreira told CNN after seeing Saturday's crash. 'I believe it was some of the staff, they were on the top of the boat. And they were swinging around, back and forth as soon as the ship hit the bridge.' The NTSB team in New York includes experts in nautical operations, marine and bridge engineering and survival factors, Graham said earlier Monday. They'll be looking into three main areas: the crew, the condition of the ship and the environment, including the weather, wind and tide. The voyage data recorder likely will provide crucial information about what went wrong, including about the ship's mechanics, any 'control input' and when power may have been lost, said Mary Schiavo, CNN transportation analyst and former US Department of Transportation inspector general. It may also offer information about the river, such as the water's depth and its currents. Graham noted, however, that because investigators have not boarded the ship, it is unknown whether there were any data recorders aboard. The ship's propeller was going in reverse at the time of the crash, an official with knowledge of the investigation said Monday. The ship also had electricity, as is clear from the lit string lights that were lining the masts. But neither propulsion or electricity indicate the vessel could actually steer at the time, and that's something investigators are currently looking at. The NTSB is working with its Mexican counterparts to gain access to the ship and eventually interview the captain and crew. They'd been hoping to get on the ship to start the investigation Monday and weren't expecting a delay, an official with knowledge of the investigation told CNN. While they wait for the Mexican government to sign off, NTSB investigators want to speak with the docking pilot, who is American, the source said, and the tug boat captain. They're also looking for the person who made the VHF call for help, an official with knowledge of the investigation said Monday. The NTSB will also look at any possible problems with the ship's engine, Young said. The ship 'experienced a mechanical malfunction,' the NYPD said, citing a preliminary investigation by several agencies, though the NTSB said Monday it had not yet examined the engine and couldn't confirm whether a malfunction occurred. The Cuauhtémoc's captain told investigators he lost steering of the vessel after the rudder stopped working, the senior official with knowledge of the investigation said. 'They had some sort of mechanical issue, they lost power. So, without being able to use the rudder, they could not steer,' the official said, cautioning all information is preliminary and subject to change. The NTSB will also be looking into the 'policies and procedures' of the tugboat that helped the ship get off the pier and sailed alongside it leading up to the crash, Young said Monday. Investigators are working to access CCTV footage and security video from the time of the crash, and are asking anyone who has video of the incident to email witness@ The NTSB has 30 days to issue a preliminary report, and a full investigation takes 12 to 24 months to complete, Graham said. The families of the victims have been notified of the deaths and are working to make final arrangements to repatriate the bodies to Mexico, a spokesperson at the New York City Office of Chief Medical Examiner said Monday. Their deaths have been ruled accidental, the spokesperson said. The sailor who was killed was identified as Adal Jair Maldonado Marcos, according to the city council of San Mateo del Mar in neighboring Oaxaca state in southern Mexico. The council expressed its 'heartfelt condolences to his family and other loved ones,' it said on Facebook. América Yamilet Sánchez was the cadet who died, the governor of Veracruz announced, adding she 'deeply' laments the death of Sánchez, a native of Xalapa, the capital city of Veracruz. As family and friends gathered Sunday at Sánchez's home in Xalapa to honor the 21-year-old, her loved ones demanded answers. 'It's impossible for something so serious to not be thoroughly investigated,' Gael de la Cruz, a relative of Sánchez, told Reuters. 'What happened there is illogical. There must be someone responsible.' Sánchez's mother, Rocio Hernandez, is in communication with US authorities over the repatriation of her daughter's body, she told Reuters. 'The US coroner already told me that yes, everything is ready … and I'm waiting for that,' she said. Meanwhile, Mexican naval and diplomatic officials are supporting the injured and the military branch, Sheinbaum said. Of the 22 crew members who were injured, 18 have recovered enough to return to the port of Veracruz, while two remain in New York, where they are receiving specialized medical care, the Mexican Navy said Monday. The Cuauhtémoc crash happened 16 months after a massive cargo ship plowed into Baltimore's Francis Scott Key Bridge. That Singaporean-flagged container vessel, the Dali, lost power, veered off course and smashed into the bridge, killing six construction workers. After the Baltimore crash, the NTSB included the Brooklyn Bridge on a list of bridges whose owners 'are likely unaware of their bridges' risk of catastrophic collapse from a vessel collision and the potential need to implement countermeasures to reduce the bridges' vulnerability.' After that, the city Transportation Department 'completed the evaluation requested by the NTSB' and calculated the probability the Brooklyn Bridge would collapse in a given year at '0.000000,' the agency told CNN on Monday. The Cuauhtémoc, known as the 'Ambassador and Knight of the Seas,' is a training sailing ship of the Mexican Navy and a diplomatic symbol of Mexico abroad. Named after the last Aztec emperor, who was executed by the Spanish conquerors in 1525, it was built in Spain in 1981 and acquired by the Mexican Navy to train cadets and officers. It regularly takes part in major regattas around the world. The sailing ship was used for training by the Heroic Naval Military School, an elite military academy in Mexico, according to a news release. The ship, as of last year, had visited 212 ports in 64 countries with 756,085 nautical miles sailed, the latter equivalent to making 35 trips around the world, the release said. It was on its yearly training tour for the graduating class of 2025 and was due to head to Iceland next. CNN's Nouran Salahieh, Lauren Mascarenhas, Mauricio Torres, Chris Boyette, Gloria Pazmino, Diego Mendoza, Zenebou Sylla, Derek Van Dam and Helen Regan contributed to this report.
