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Shares of cruise operators fell Monday as a Category 4 hurricane forced ships to reroute in the Atlantic Ocean, a potential early indicator of a dangerous hurricane season this year. 

Hurricane Beryl, reportedly the strongest hurricane on record to ever hit the Atlantic Ocean in the month of June, made landfall Monday in Grenada.

Some cruises slated to visit Caribbean islands are being rerouted, according to reports citing emails sent to customers. That could become a pattern this hurricane season, Royal Caribbean (RCL) Chief Meteorologist Craig Setzer warned Friday in a post on the social-media network X.

“The deep tropical Atlantic is very much alive very early in the season, and unfortunately is likely a harbinger of things to come this summer & fall,” Setzer wrote. 

Royal Caribbean shares sank more than 1.5% in Monday afternoon trading, while Carnival (CCL) fell nearly 5%, and Norwegian Cruise Line (NCLH) dropped about 5%. 

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The Federal Reserve's high interest rates are damping demand for manufacturing products, according to two data reports released Monday.

The manufacturing sector showed continued weakness in June, with tepid demand, limited output, and decreasing confidence among factory and fabrication executives. However, the surveys also indicated manufacturing costs were cooling, providing more data to show that inflation pressures may be easing. 

The Institute for Supply Management (ISM) reported a manufacturing Purchasing Managers’ Index (PMI)  of 48.5% in June, below May’s results. It was nearly a full percentage point lower than the increase economists surveyed by and expected.

It’s the third straight month of declines for the closely followed index, which has moved lower in 19 of the past 20 months. However, the readings still indicate the broader economy is expanding. 

New order levels in the ISM's PMI report for June still indicated a pullback from customers, while lower exports and backlog orders also demonstrated weakening demand.  High interest rates continue to be a problem for the manufacturing sector, said Timothy Fiore, chair of the ISM Manufacturing Business Survey Committee in a statement.

“Demand remains subdued, as companies demonstrate an unwillingness to invest in capital and inventory due to current monetary policy and other conditions,” Fiore said. 

The Federal Reserve has held its influential fed funds rate at a 23-year high for nearly 12 months, pushing up the cost of borrowing for businesses and consumers. The interest rates are designed to tame inflation by slowing spending throughout the economy, including in the manufacturing sector.

"The Fed wants the economy to keep running in low gear near-term," wrote Comerica Chief Economist Bill Adams. "They will see ongoing softness in manufacturing as contributing to their goal of less inflation."

A separate report from S&P Global Market Intelligence, released Monday, showed the slowdown may continue, as manufacturing business leaders' confidence touched a 19-month low.

“Factories have been hit over the past two years by demand switching post-pandemic from goods to services, while at the same time household and business spending power has been diminished by higher prices and concerns over higher-for-longer interest rates,” said Chris Williamson, S&P Global Market Intelligence chief business economist.

Another facet of high interest rates may in fact be a silver lining for manufacturers, however. The ISM survey showed the index measuring prices manufacturers paid for materials declined nearly 5 percentage points to 52.1% for last month.

"Price pressures have not gone away, but they have abated," wrote Wells Fargo Economists Tim Quinlan and Shannon Seery Grein.

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U.S. equities gained at midday Monday, as the third quarter and a holiday-shortened trading week kicked off, with the tech sector giving a boost to the Nasdaq.

Tesla (TSLA) shares surged ahead of its latest report on deliveries, due for release Tuesday, and after several Chinese rivals including Nio (NIO) posted strong results.

Boeing (BA) shares rose after the plane maker agreed to pay $4.7 billion to reacquire parts provider Spirit AeroSystems (SPR). Spirit Aero Systems shares also gained.

Shares Donald Trump’s Trump Media & Technology Group (DJT) climbed after it was announced that the owner of the Truth Social platform has been added to the Russell 3000 and Russell 1000 indexes as part of their annual adjustments. Separately, the Supreme Court also ruled that presidents have limited immunity from prosecution in a case involving the former president.

Cruise line stocks including Norwegian Cruise Line (NCLH) fell amid concerns about disruptions from Hurricane Beryl, which is heading through the Caribbean.

TH International (THCH) or Tims China shares lost ground after Restaurant Brands International (QSR) said it purchased its Popeyes China business and announced an investment in the firm. Restaurant Brands International shares also slid.

Oil futures rose and gold prices declined. The yield on the 10-year Treasury note climbed. The U.S. dollar was higher versus the pound and yen, but lost ground to the euro. Most major cryptocurrencies traded in the green.  

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Nio's (NIO) American Depositary Receipts (ADRs) jumped Monday after the Chinese electric vehicle (EV) maker reported a second-straight month of record deliveries.

The news lifted ADRs of Chinese rivals, as well as shares of American EV manufacturers.

Nio said it delivered 21,209 vehicles in June, a near-doubling from last June's number and a record high, topping the 20,544 set in May. The total consisted of 11,581 SUVs and 9,628 sedans, the company said.  

The company also posted record deliveries for the second quarter, delivering 57,373 EVs, a 144% year-over-year gain that was above its previous guidance. As of the end of June, Nio has delivered 537,020 vehicles.

Nio's U.S.-listed ADRs were recently up more than 5%. Those of Li Auto (LI) and XPeng (XPEV) also advanced as those EV firms announced deliveries of 47,774 and 10,668 vehicles, respectively.

Shares of Tesla (TSLA) and Rivian Automotive (RIVN) were also higher. Rivian secured a multibillion-dollar investment from Volkswagen last week.

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Actress Sharon Ooja Nwoke has ignores online farmers who are digging tirelessly for information as she gives her vote of thanks to those who attended her wedding and celebrated her.

She said thank you all for celebrating her and she is truly grateful she had an amazing wedding, truly

dreamy and she felt so blessed.

Now to end all her vote of thanks so we can get back to business!! Thanks to everyone who flew out from far and wide to celebrate with her and mine, they are grateful they are truly grateful they didn’t take it for granted

Thank you all for wishing her well may God raise an army to support you when you need one

SON forever

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