In today’s Recap, Marcello talks about how both China and the US have issued stark warnings about potential dangers accompanying this coming eclipse. Meanwhile, concerns arise in the tech sphere as Google’s A.I. is found venturing into uncharted territories, prompting questions about its ethical boundaries. Amidst these developments, the financial markets witness a historic moment as gold prices soar to record highs, signaling potential shifts in global economic dynamics.
U.S. services industry growth slowed further in March, while a measure of prices paid by businesses for inputs dropped to a 4-year low, which bodes well for the inflation outlook. Services are the main driver of inflation, via higher wages.The Institute for Supply Management (ISM) said on Wednesday that its non-manufacturing PMI fell to 51.4 last month from 52.6 in February. It was the 2nd straight monthly decline in the index since rebounding in January. Data last week showed services inflation excluding energy & housing cooling considerably in February, after accelerating in January.
The gold market continues its unstoppable run to record highs, as it touches an all-time high of $2,350 an ounce ahead of the weekend. The latest rally comes after geopolitical tensions in the Middle East heat up because of Israel’s war with Hamas in Gaza.
A powerful earthquake rocked the entire island of Taiwan early Wednesday, collapsing buildings in a southern city & creating a tsunami that washed ashore on southern Japanese islands. Taiwan’s earthquake monitoring agency gave the magnitude as 7.2 while the U.S. Geological Survey put it at 7.5. The depth was about 35 kilometers (21 miles). The Japan Meteorological Agency forecast a tsunami of up to 3 meters (9.8 feet) for the southern Japanese island group of Okinawa.
A 4.8 magnitude earthquake recorded in New Jersey that shook residents in surrounding states & New York City on Friday morning was one of the strongest in state history. The temblor was reported about 5 miles north of Whitehouse Station, New Jersey, Friday, according to the U/S. Geological Survey. The epicenter was about 45 miles from NYC, where residents reported shaking furniture & floors. It is the strongest quake to hit NYC in 139 years. The last one was dated on August 10, 1884. It is the strongest in New Jersey in 240 years, last recorded in 1783. The earthquake and its aftershocks have been felt in multiple U.S. states.
Archaeologists are now investigating claims about a long-lost group of giant humans who supposedly stood up to 10 feet tall & lived in caves in the southwestern U.S. Supersized human skulls, 15-inch sandals & massive hand prints have been uncovered in excavations inside a cave in Lovelock, Nevada since 1912, that have continued to spark the curiosity of scientists & the public at large for more than a century.
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