Stock market today: Global shares trade higher after Wall Street rally takes S&P 500 near record
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NEW YORK — U.S. stocks coasted to the close of another winning week on Friday.
The S&P 500 rose 8.60 points, or 0.2%, to 5,222.68 to finish a third straight winning week following its mostly miserable April. It had been on pace for a bigger gain in the morning, but that mostly disappeared following a discouraging report on U.S. consumer sentiment.
The Dow Jones Industrial Average gained 125.08 points, or 0.3%, to 39,512.84, and the Nasdaq composite edged down by 5.40, or less than 0.1%, to 16,340.87.
The S&P 500 has climbed back within 0.6% of its record on revived hopes that the Federal Reserve may deliver cuts to interest rates this year. A flood of stronger-than-expected reports on profits from big U.S. companies has also helped support the market.
Gen Digital jumped 15.3% after reporting better profit for the first three months of 2024 than analysts expected. The cyber safety company, whose brands include Norton and LifeLock, also authorized a program to buy back up to $3 billion of its stock. It joined a lengthening list of companies announcing big such programs, which helps goose per-share earnings for investors.
Novavax nearly doubled and shot 98.7% higher after announcing a deal with Sanofi that could be worth more than $1.2 billion. The agreement includes a license to co-commercialize Novavax’s COVID-19 vaccine worldwide, with some exceptions. Novavax also reported a slightly smaller loss for the latest quarter than analysts expected.
They helped offset a drop of 11% for Akamai Technologies, which topped expectations for profit but fell short for revenue. The cloud-computing, security and content delivery company also gave some financial forecasts for the upcoming year that fell short of analysts’ expectations.
It said the strengthening of the U.S. dollar’s value against other currencies is slicing into its business, along with slowing traffic growth across the industry. That helped overshadow its own announcement of a program to buy back up to $2 billion of its stock.
In the bond market, Treasury yields rose following the discouraging preliminary report from the University of Michigan.
It suggested sentiment among U.S. consumers is weakening by much more than economists expected, and the drop was large enough to be “statistically significant and brings sentiment to its lowest reading in about six months,” according to Joanne Hsu, director of the survey of consumers.
Potentially even more discouraging is that U.S. consumers were forecasting inflation of 3.5% in the upcoming year, up from their forecast of 3.2% a month earlier. If such expectations spiral higher, the fear is that it could lead to a vicious cycle that worsens inflation.
It highlights how some companies have recently been describing increasing struggles among their customers, particularly their lower-income ones.
The yield on the 10-year Treasury rose to 4.50% from 4.46% late Thursday. But the movement was still relatively modest compared with its drop from 4.70% late last month.
Markets may remain on hold until Wednesday’s highly anticipated update on U.S. inflation at the consumer level, according to rates strategists at Bank of America. Traders are still largely penciling in one or two cuts to interest rates by the Federal Reserve this year, according to data from CME Group.
“Right now, the market is in a good mood thanks to a decent earnings season and a Fed that has a high bar to hiking,” according to Brian Jacobsen, chief economist at Annex Wealth Management. “That mood can change quickly.”
Last week, Federal Reserve Chair Jerome Powell helped pull yields lower after saying the central bank remains closer to cutting its main interest rate than hiking it, despite a string of stubbornly high readings on inflation this year. The Fed has been keeping its main interest rate at the highest level in more than two decades in hopes of getting high inflation fully under control.
A cooler-than-expected jobs report at the end of last week, meanwhile, suggested the U.S. economy could pull off the tricky balancing act of staying solid enough to avoid a bad recession but not so strong that it worsens inflation.
In stock markets abroad, London’s FTSE 100 rose 0.6% after the government reported the U.K. economy bounced back to growth at the start of the year. The performance was better than expected, and it snapped two straight quarters where the economy shrank.
In Japan, Tokyo’s Nikkei 225 rose 0.4% after a report showed strong auto exports whittled down the nation’s trade deficit and it racked up solid returns on overseas investments.
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AP Business Writers Yuri Kageyama and Matt Ott contributed.
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The Crew USA gymnastics coach like a flash took to the mat after a user commented on one amongst her posts implying the judges cheated so Jordan may maybe presumably get.
“I shouldn’t possess to present but I’ll ONCE,” Cecile answered on her August 6 Instagram put up. “Jordan’s easiest doable [start value] on floor identity a 5.9—At quals and team finals she got a 5.8 and we didn’t quiz it on story of we saw that now not the full parts were executed.”
Nonetheless as Cecile beforehand suggested reporters following the bottom final, throughout Jordan’s performance, Cecile and the team felt the 23-one year-veteran performed a tour jeté with a tubby flip—one thing she hadn’t executed in addition throughout qualifiers and within the team round—which is why they submitted the inquiry. (Inquiries will now not be allowed for execution rankings but will be submitted for challenge scoring.)
As she further defined within the observation, “Being placed fifth with nothing to lose, I sent the inquiry so I wouldn’t feel sorry about now not asking. I didn’t mediate it may maybe per chance presumably be authorized and at my surprise it modified into.”
Cecile—who’s an Olympian herself and competed within the 1996 Video games in Atlanta—made it clear, nonetheless, she modified into dazzling doing her job as a coach and that all the pieces that came about modified into above board.
Ezra Shaw/Getty Photography
“Jordan won this medal and didn’t defend cease one thing else from someone,” the 44-one year-veteran endured. “Attain I in fact feel corrupt for the Romanian athlete? For certain I manufacture! It modified into so sad and heartbreaking to sight but it indubitably is the sport!”
As Cecile concluded, “You don’t possess to prefer it but you manufacture possess to respect the tip consequence and more importantly respect Jordan and now not proceed her down on story of you disagree. She EARNED that bronze medal.”
The coach’s rationalization comes amid ongoing controversy surrounding the gathering of events. On August 5, the Romanian Olympic Committee submitted an charm of gymnast Sabrina Maneca-Voinea’s final rating within the bottom occasion, per a social media put up. (Whereas Sabrina and Ana both earned overall rankings of 13.700 throughout the final, Ana modified into placed above Sabrina attributable to a increased execution rating.)
Jamie Squire/Getty Photography
Sabrina had first and most important been given a deduction of 0.1 for stepping out of bounds, but replays apparently showed her final in.
President of the Romanian Olympic Committee Mihai Covaliu therefore urged the Worldwide Gymnastics Federation—the legitimate physique within the support of the gymnastics competitions—to reassess Sabrina’s rating, explaining an preliminary dispute had been rejected. There modified into no notice on whether Sabrina’s rating will be reevaluated today.
Within the meantime, Mihai wrote in an August 6 Fb put up, “The manner by which the rating modified into assessed and the refusal to fresh the tubby reasons/proofs for the rejection of the charm submitted throughout the level in time web web page by the rules seriously harms the image of world gymnastics, but in particular impacts the athlete, even jeopardizing their mental health.”
For more controversial moments from this one year’s Olympic Video games in Paris, support finding out.
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Multidomain attacks are on the verge of becoming a digital epidemic as nation-states and nicely-funded cybercrime attack groups survey to cash in on large gaps in digital estates’ defenses. Enterprises are having to deal with widening – and usually unknown – gaps between enterprise sources, apps, systems, recordsdata, identities and endpoints.
The lickety-split-rising tempo of attacks is riding a graph database fingers bustle across leading cybersecurity companies. Microsoft‘s Security Publicity Administration Platform (MSEM) at Ignite 2024 displays how fleet the fingers bustle is maturing and why its containment requires more progressed platforms.
“Three years ago, we had been seeing 567 password-connected attacks per 2d. As of late, that number has skyrocketed to 7,000 per 2d. This represents a broad escalation in the scale, tempo and class of contemporary cyber threats, underscoring the urgency for proactive and unified security methods,” Vasu Sakkal, Microsoft’s company vp of security, compliance, identity, management and privacy, urged VentureBeat at some level of a latest interview.
Microsoft goes all-in on their security vision at Ignite 2024
With every group experiencing more multidomain intrusion makes an try and tormented by undiscovered breaches, Microsoft is doubling down on security, pivoting its technique to graph-basically based completely defense in MSEM. Sakkal urged VentureBeat, “The sophistication, scale, and tempo of contemporary attacks require a generational shift in security. Graph databases and generative AI provide defenders the tools to unify fragmented insights into actionable intelligence.”
Cristian Rodriguez, CrowdStrike’s Americas Field CTO, echoed the importance of graph expertise in a latest interview with VentureBeat. “Graph databases allow us to arrangement adversary behavior across domains, identifying the subtle connections and patterns attackers exploit. By visualizing these relationships, defenders attach the contextual perception wished to seem forward to and disrupt complex, inferior-domain attack methods,” Rodriguez talked about.
Key announcements from Ignite 2024 encompass:
Microsoft Security Publicity Administration Platform (MSEM). At the core of Microsoft’s technique, MSEM leverages graph expertise to dynamically arrangement relationships across digital estates, in conjunction with gadgets, identities and recordsdata. MSEM attend for graph databases permits security groups to identify excessive-agonize attack paths and prioritize proactive remediation efforts.
Zero Day Quest. Microsoft is offering $4M in rewards to tell vulnerabilities in AI and cloud platforms. This initiative aims to compile researchers, engineers and AI red groups to take care of serious dangers preemptively.
Dwelling windows Resiliency Initiative. Specializing in zero belief principles, this initiative appears to be like to be to enhance machine reliability and recovery by securing credentials, imposing Zero Belief DNS protocols and fortifying Dwelling windows 11 against rising threats.
Security Copilot Enhancements. Microsoft claims that Security Copilot’s generative AI capabilities increase SOC operations by automating risk detection, streamlining incident triage and decreasing indicate time to resolution by 30%. Built-in with Entra, Intune, Purview and Defender, these updates present actionable insights, helping security groups tackle threats with bigger effectivity and accuracy.
Updates in Microsoft Purview. Purview’s progressed Knowledge Security Posture Administration (DSPM) tools form out generative AI dangers by discovering, protecting and governing handsome recordsdata in exact-time. Parts encompass detecting prompt injections, mitigating recordsdata misuse and combating oversharing in AI apps. The applying also strengthens compliance with AI governance requirements, aligning enterprise security with evolving guidelines.
Why now? The feature of graph databases in cybersecurity
John Lambert, company vp for Microsoft Security Be taught, underscored the serious importance of graph-basically based completely making an allowance for in cybersecurity, explaining to VentureBeat, “Defenders mediate in lists, cyberattackers mediate in graphs. As lengthy as this is correct, attackers ranking.”
He added that Microsoft’s technique to publicity management involves creating a comprehensive graph of the digital property, covering vulnerabilities, risk intelligence and attack paths. “It’s about giving defenders a full arrangement of their atmosphere, allowing them to prioritize the most serious dangers whereas working out the aptitude blast radius of any compromise,” Lambert added.
Graph databases are gathering momentum as an architectural technique for cybersecurity platforms. They excel at visualizing and inspecting interconnected recordsdata, which is serious for identifying attack paths in exact time.
Key advantages of graph databases encompass:
Relational Context: Draw relationships between sources and vulnerabilities.
Mercurial Querying: Traverse billions of nodes in milliseconds.
Chance Detection: Name excessive-agonize attack paths, decreasing false positives.
Knowledge Discovery: Consume graph AI for insights into interconnected dangers.
Behavioral Diagnosis: Graphs detect subtle attack patterns across domains.
Scalability: Integrate contemporary recordsdata functions seamlessly into current risk units.
Multidimensional Diagnosis:
The Gartner warmth arrangement underscores how graph databases excel in cybersecurity exercise cases cherish anomaly detection, monitoring and decision-making, positioning them as wanted tools in contemporary defense methods.
“Emerging Tech: Optimize Chance Detection With Knowledge Graph Databases,” Also can honest 2024. Source: Gartner
What makes Microsoft’s MSEM platform outlandish
The Microsoft Security Publicity Administration Platform (MSEM) differentiates itself from varied graph database-pushed cybersecurity platforms by its exact-time visibility and agonize management, which helps security operations heart groups preserve it up high of dangers, threats, incidents and breaches.
Sakkal urged VentureBeat, “MSEM bridges the outlet between detection and movement, empowering defenders to seem forward to and mitigate threats effectively.” The platform exemplifies Microsoft’s vision of a unified, graph-pushed security approach, offering organizations the tools to preserve sooner than contemporary threats with precision and tempo.
Built on graph-powered insights, MSEM integrates three core capabilities wished to war support against multi-domain attacks and fragmented security recordsdata. They encompass:
Attack Floor Administration. MSEM is designed to create a dynamic glimpse of a company’s digital property, enabling the identification of sources, interdependencies and vulnerabilities. Parts cherish automatic discovery of IoT/OT gadgets and unprotected endpoints safe particular visibility whereas prioritizing excessive-agonize areas. The applying inventory dashboard categorizes sources by criticality, helping security groups level of curiosity on the most urgent threats with precision.
Source: Microsoft
Attack Course Diagnosis. MSEM uses graph databases to arrangement attack paths from an adversary’s level of view, pinpointing serious routes they’ll exploit. Enhanced with AI-pushed graph modeling, it identifies excessive-agonize pathways across hybrid environments, in conjunction with on-premises, cloud and IoT systems.
Unified Publicity Insights. Microsoft also designed MSEM to translate technical recordsdata into actionable intelligence for both security professionals and industry chief personas. It helps ransomware protection, SaaS security, and IoT agonize management, guaranteeing focused, insightful recordsdata is supplied to security analysts.
Microsoft also announced the following MSEM enhancements at Ignite 2024:
Third-Birthday party Integrations: MSEM connects with Rapid7, Tenable and Qualys, broadening its visibility and making it a extremely efficient application for hybrid environments.
AI-Powered Graph Modeling: Detects hidden vulnerabilities and performs progressed risk path prognosis for proactive agonize reduction.
Historical Traits and Metrics: This application tracks shifts in publicity over time, helping groups adapt to evolving threats confidently.
Graph databases’ growing feature in cybersecurity
Graph databases own proven handy in tracking and defeating multi-domain attacks. They excel at visualizing and inspecting interconnected recordsdata in exact time, enabling quicker and more factual risk detection, attack path prognosis and agonize prioritization. It’s no shock that graph database expertise dominates the roadmaps of leading cybersecurity platform companies.
Cisco’s SecureX Chance Response is one example. The Cisco platform extends the utility of graph databases into network-centric environments, connecting recordsdata across endpoints, IoT gadgets and hybrid networks. Key strengths encompass an integrated incident response that’s integrated across the Cisco suite of apps and tools and network-centric visibility.”What we want to build is safe particular that we exercise AI natively for defenses since you are going to now not scramble out and fight these AI weaponization attacks from adversaries at a human scale. Or now not it’s some distance extremely predominant build it at machine scale,” Jeetu Patel, Cisco’s executive vp and CPO, urged VentureBeat in an interview earlier this one year.
CrowdStrike’s Chance Graph became as soon as presented at their annual buyer match, Fal.Con in 2022 and is mostly cited as an illustration of the vitality of graph databases in endpoint security. Processing over 2.5 trillion day-to-day events, Chance Graph excels in detecting dilapidated signals and mapping adversary behavior. Rodriguez emphasised to VentureBeat, “Our graph capabilities safe particular precision by specializing in endpoint telemetry, offering defenders with actionable insights quicker than ever.” CrowdStrike’s key differentiators encompass endpoint precision in tracking lateral movements and identifying anomalous behaviors. Chance Graph also helps behavioral prognosis dilapidated on AI to tell adversary tactics across workloads.
Palo Alto Networks (Cortex XDR), SentinelOne (Singularity) and Pattern Micro are among the many valuable gamers leveraging graph databases to enhance their risk detection and exact-time anomaly prognosis capabilities. Gartner predicted in the latest research demonstrate Emerging Tech: Optimize Chance Detection With Knowledge Graph Databases that their fashioned adoption will continue due to their ability to attend AI-pushed insights and decrease noise in security operations.
Graph databases will rework enterprise defense
Microsoft’s Lambert encapsulated the industry’s trajectory by stating, “Also can honest the most easy attack graph ranking. Graph databases are reworking how defenders mediate interconnected dangers,” underscoring their pivotal feature in contemporary cybersecurity methods.
Multi-domain attacks target the weaknesses between and inner complex digital estates. Discovering gaps in identity management is an net site nation-articulate attackers be unsleeping of and mine recordsdata to access the core enterprise systems of a company. Microsoft joins Cisco, CrowdStrike, Palo Alto Networks, SentinelOne and Pattern Micro, enabling and persevering with to pork up graph database expertise to identify and act on threats sooner than a breach occurs.
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