Money
US scientists score Nobel Prize for groundbreaking chilli sensory discovery
US researchers David Julius and Ardem Patapoutian score the top prize for their “profound discovery” on receptors and touch.
The Nobel Prize in Physiology or Medicine has been awarded for the discovery of receptors for temperature and touch.
The two winners, US scientists David Julius and Ardem Patapoutian were announced on Monday by the secretary-general of the Nobel committee.
Julius, born on November 4, 1955 is in affiliation with the University of California, San Francisco while Beirut-born researcher Patapoutian is an affiliate of the Howard Hughes Medical Institute in California.
The researches used chilli to identify the nerve sensors responsible for the skin responding to heat while other pressure-sensitive sensors were found that react to mechanical stimulation.
Such discoveries launched intense research into how heat, cold, and mechanical stimuli is sensed by the human nervous system.
Additionally, it’s helped enhance scientific understanding into the complex relationship between human senses and the environment.
Decades in the making
David Julius has been working on this research alongside his co-workers since the late 1990s.
Since then, he’s been trying to understand how the chemical compound capsaicin causes the burning sensation felt when coming into contact with chili peppers.
As part of the research, Julius and his fellow co-workers came up with a library of DNA fragments which matched to genes that are expressed in the sensory neurons.
A long, laborious search followed until a single gene that made cells capsaicin-sensitive was identified.
Julius and Patapoutian then underwent further research, contributing to the groundbreaking discoveries they’ve made today.
A discovery “crucial for survival”.
The Nobel committee says it’s a “profound discovery” that is “crucial for our survival”.
Their research is helping other researchers develop treatments for a wide range of disease conditions, including chronic pain.
The scientists were awarded a gold medal and more than 10 million Swedish kronor.
It’s the first Nobel prize this year, with more to come over the next week.
Written by Rebecca Borg
Money
Inflation rise reduces chances of Reserve Bank rate cut
Inflation spikes, drastically reducing chances of a Reserve Bank rate cut amid economic pressures and rising costs
Inflation spikes, drastically reducing chances of a Reserve Bank rate cut amid economic pressures and rising costs
– Rate cut likelihood by the Reserve Bank has decreased due to a rise in annual inflation to 3.2 per cent.
– Significant price increases in housing, recreation, and transport are raising concerns for the Reserve Bank.
The likelihood of a rate cut by the Reserve Bank has decreased significantly after a surge in annual inflation.
The Australian Bureau of Statistics reported that inflation for the year ending September rose to 3.2 per cent, reflecting a 1.1 per cent increase.
Trimmed mean inflation, a crucial measure for the Reserve Bank, was recorded at 1 per cent for the quarter and 3 per cent for the year. The bank anticipates inflation to reach 3 per cent by year-end, while trimmed mean inflation is expected to slightly decrease.
The quarterly rise of 1.3 per cent in September exceeded expectations. Governor Bullock noted that a deviation from the Reserve Bank’s projections could have material implications.
Financial markets reacted promptly, with the Australian dollar rising against the US dollar, while the ASX200 index fell.
The most significant price increases were observed in housing, recreation, and transport, indicating widespread price pressures that concern the Reserve Bank.
Despite the unexpected inflation rise, some economists believe the Reserve Bank may still consider rate cuts in December, viewing current price spikes as temporary due to the winding back of subsidies.
Economic Pressures
Broad-based economic pressures suggest that the Reserve Bank may not reduce interest rates at its upcoming meeting. Analysts highlight the need for ongoing support for households facing cost-of-living challenges.
Money
Wall Street hits record highs on low inflation
Wall Street hits record highs on cool inflation and strong earnings ahead of key Federal Reserve interest rate decision
Wall Street hits record highs on cool inflation and strong earnings ahead of key Federal Reserve interest rate decision
– U.S. stocks rose to record highs on Friday due to lower inflation and strong corporate earnings.
– Key earnings reports from major companies are expected next week, influencing market trends.
The Labor Department reported that the Consumer Price Index was slightly cooler than analysts’ predictions, easing concerns about inflation impacts from tariffs. This development suggests a likely interest rate cut by the Federal Reserve at its upcoming meeting.
Ryan Detrick from Carson Group noted the positive inflation news may facilitate forthcoming Fed rate cuts. Despite the ongoing government shutdown affecting data releases, this CPI report provided much-needed clarity.
Earnings reports are continuing, with 143 S&P 500 companies having reported results. Growth expectations for third-quarter earnings have risen to 10.4%. Detrick indicated a strong opening to the earnings season with a significant percentage of companies exceeding expectations.
This coming week, key earnings will be reported from Meta Platforms, Microsoft, Alphabet, Amazon, and Apple, alongside industrial companies like Caterpillar and Boeing.
The Dow rose 472.51 points to 47,207.12. The S&P 500 increased by 53.25 points to 6,791.69, while the Nasdaq gained 263.07 points, reaching 23,204.87.
Alphabet gained 2.7% following a deal expansion with Anthropic. Coinbase saw a 9.8% increase from a JPMorgan upgrade. In contrast, Deckers Outdoor’s shares fell 15.2% after lowering sales forecasts.
Market Trends
Advancing stocks on the NYSE outnumbered decliners by 2.18 to 1. The S&P 500 had 34 new highs, with the Nasdaq recording 124.
Trading volume was 19.04 billion shares, lower than the average of the past 20 days.
Money
US stocks face tests from Tesla, Netflix earnings
US markets brace for Tesla and Netflix earnings amid rising volatility and delayed inflation data
US markets brace for Tesla and Netflix earnings amid rising volatility and delayed inflation data
– Earnings reports from Tesla and Netflix might affect U.S. stock performance next week amid high inflation concerns.
– Increased market volatility arises from U.S.-China trade tensions and fewer S&P 500 stocks in an uptrend.
The S&P 500 entered its fourth year of growth amidst these fluctuations, having previously experienced a period of calm. Experts suggest market risks are intensifying as valuations reach peak levels.
Market Volatility
Concerns regarding U.S.-China trade relations escalated last week when the U.S. threatened to raise tariffs by November 1 over China’s rare-earth export policies. President Donald Trump is scheduled to meet with President Xi Jinping in two weeks to discuss these issues.
Despite these challenges, major stock indexes gained ground over the week, with the S&P 500 up 13.3% year-to-date. However, a noticeable decline in the number of S&P 500 stocks in an uptrend raises caution among investors about underlying market weaknesses.
The upcoming third-quarter earnings will be closely monitored, especially as the government shutdown halts economic data releases. Companies like Procter & Gamble, Coca-Cola, RTX, and IBM are due to report. The delayed U.S. consumer price index is also expected to provide crucial insights ahead of the Federal Reserve’s monetary policy meeting on October 28-29.
-
News3 days agoMarkets cautious as rate cut hopes fade
-
News3 days ago
US–China trade talks are a handshake, not a deal
-
News3 days ago
Trump orders Pentagon to resume nuclear testing immediately
-
News5 days ago
Meta and Amazon signal ‘AI efficiency era’
-
Tech11 hours ago
Xi proposes global AI governance at APEC summit
-
News5 days ago
December rate cut all but locked in
-
Money5 days ago
Inflation rise reduces chances of Reserve Bank rate cut
-
News4 days ago
Powell warns against further December interest rate cuts
