August 2022 – Page 867 – Michmutters

Month: August 2022

Categories
Sports

Australia’s beach volleyballers blow up

Australia's beach volleyballers blow up

(Ace Bill Lawry said on the Twelfth Man: “Canary yellow! That’s Australian gold my friend and don’t you f—ing forget it!” )

The second moment of controversy came in the second set when the referee penalized Clancy for a “carry”. In other words, she held onto the ball for too long when setting up Artacho del Solar for the money spike.

She eyeballed the ref and barked, “What was that? Are you kidding me?”

To his credit, he remained unmoved.

“They said I carried,” Clancy said afterwards. “I DO NOT CARRY. There’s always been a rule but they’re being all sensitive on it. That was not a carry. I was pretty cranky. I think I have very good hands, so I get very insulted.”

Artacho del Solar said: “I feel like he just wanted to get involved.”

They said this with cheeky smiles, bless them, but there is some serious business at hand here at the former flea market, where a Mexican wave between points was the closest thing to an actual wave.

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Clancy (who wears her Indigenous pride on her painted fingernails) and Artacho del Solar (who is originally from Peru) paired up just before the 2018 Commonwealth Games on the Gold Coast, where they claimed silver.

Then came their heroics last year in Tokyo, when they captured the hearts and minds of those of us in COVID-19 lockdown in Australia, claiming silver once more. A medal of a different hue is on the agenda here in Brum.

Has their profile increased since Toyko?

“I’m not going to lie — it has,” Clancy said. “I’m like, ‘Why do you know who I am? Why are you talking to me?’ Not in a bad way.”

Kerri Pottharst and Natalie Cook celebrate their gold at Bondi at the Sydney 2000 Olympics.

Kerri Pottharst and Natalie Cook celebrate their gold at Bondi at the Sydney 2000 Olympics.Credit:Getty

Do they cover the same attention as Kerri Pottharst and Natalie Cookwho won gold on Bondi Beach at the Sydney Olympics?

“Not at all,” Artacho del Solar said.

And with that, the pair turned left and did a samba down the runway of the mixed zone and into the afternoon.

What a shame it wasn’t a conga line. I would’ve joined in.

Their second pool match, against the pair from Trinidad and Tobago, is on Tuesday.

Bog standards

“Are you people of authority?” asked one female fan after the beach volleyball, looking at the accreditation lanyard around our necks.

No. We’re reporters. Not authority.

“Well, report on the fact there are two toilets for women and four for men,” she continued. “That’s discrimination.”

She has a point.

The queues for food at the Commonwealth Games in Birmingham have been a talking point.

The queues for food at the Commonwealth Games in Birmingham have been a talking point.Credit:Getty

Of equal concern are the enormous lines for food and drink at every venue. Then there’s the prices: $17 for “sausage and chips”. You don’t even get a piece of bread.

Football steals show

While Birmingham got around the Commonwealth Games, the rest of the UK got around England’s women’s football team in the final of the European championships.

England triumphed 2-1 after extra time in an epic final against Germany at Wembley.

The scene at the Craven Arms hotel was wild. “Well there’s the headlines tomorrow,” mused one local.

It was interesting to note that both captains wore rainbow-coloured armbands.

Amazing! Nobody died. Actually, nobody even spoke about it.

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THE QUOTE
“Bitter love triangle hits awkward Commonwealth Games squad — with links to Miley Cyrus.” — Good to see British tabloid The Daily Star has toned down its coverage since Kyle Chalmers’ impassioned plea for the media to leave him alone and be “positive”.

THUMBS UP
Australia’s women’s sevens team won gold after beating Fiji in the final. Good times, classic hits.

THUMBS DOWN
england cyclist Matt Walls crashed into the crowd during the final lap of the men’s 15km scratch race, leaving one young fan “covered in blood”. Walls was trying to avoid another crash. The race was abandoned and a second cyclist, Matt Bostock from the Isle of Man, was taken away on a stretcher.

Categories
Australia

Taxi driver allegedly threatens passengers with knife, hits one with vehicle over fare dispute

two knives in a plastic bag with a plastic ruler for measuring their length.

A Gold Coast taxi driver has been arrested after allegedly threatening passengers with a knife and later hitting one of them over a fare dispute.

Superintendent Geoff Sheldon said a member of the public called police after seeing the driver arguing with four male passengers on Hanlan Street in Surfers Paradise around 1:30 this morning.

“There was some sort of dispute in the taxi, a member of the public has seen that and alerted us and we’ve had them followed on CCTV camera,” Superintendent Sheldon said.

Police followed the vehicle’s movements via the council CCTV system to Cavill Avenue, where the driver allegedly struck one of the passengers.

“The person has ended up on the bonnet and the taxi driver reversed back and the person has fallen off,” Superintendent Sheldon said.

“He’s driven at another person nearby and didn’t strike the second person.”

The men received minor injuries.

The 35-year-old taxi driver was arrested a short time later at Macintosh Island and has been charged with dangerous driving and going armed so as to cause fear.

He was granted police bail and is due to appear in the Southport Magistrates Court on August 15.

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Categories
US

Man tries to rape woman as she walked her small dog in NYC

Man tries to rape woman as she walked her small dog in NYC

A fiend tried to rape a woman as she walked her small dog on a Brooklyn sidewalk Saturday morning, cops say.

Video footage released by the NYPD shows the attacker approaching his 30-year-old victim from behind around 8:30 am near Woodbine Street and Ridgewood Place in Bushwick and place her in a chokehold.

He then wrestles her to the sidewalk behind a parked car.

The woman’s dog can be seen frantically barking as the man gets on top of the woman, footage shows.

Police said the perp continued to strangle the victim and assault her over her clothing before he fled east on Woodbine Street.

“This scumbag literally placed her in a chokehold and pushed her to the ground and almost choked her unconscious,” a police source told The Post on Sunday.

The victim originally turned down medical attention but was later treated at Interfaith Medical Center, police said.

She sustained a cut to her neck and bruising and swelling to both eyes, a police source said.

Brooklyn man attempted rape
The victim was walking her dog before the suspect began to attack.
NYPD
brooklyn suspect
The man wrestles the woman to the ground attempting to rape her.
NYPD
Brooklyn man attempts rape
The man strangled the woman in daylight.
NYPD
Brooklyn man attempts to rape a woman
I have fled east on Woodbine Street.
NYPD

The suspect was described as about 30 years old and 5’8″ with a medium build, police said. He had his black hair in dreads, a mustache and chin hair, police said.

He was last seen wearing a black ball cap with a rose design on the front and also had on a black t-shirt, shorts and sneakers, according to authorities.

Anyone with information can call NYPD’s Crime Stoppers at 1-800-577-TIPS or for Spanish 1-888-75-PISTA.

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Categories
Business

Australian house prices fall fastest since GFC and 1980s crash

Sydney property prices have fallen their sharpest in 40 years as the national housing market nosedive picks up pace.

A market expert has labeled this downturn on par with the start of the Global Financial Crisis and the early 1980s crash.

The May interest rate rise was a trigger point, CoreLogic’s Home Value Index for July has been found.

The median national home value dropped 1.3 per cent over July, CoreLogic reveals, which is the third month in a row of price declines. Over the quarter, national prices are down 2 per cent. The national median value is now $747,812.

This sits against a period of blistering growth during the pandemic where values ​​rose 28.6 per cent.

READMORE: Nervous buyers drop out of auction race for $2.41m Dulwich Hill house

CoreLogic data real estate housing decline prices graph
CoreLogic’s House Price Index for July shows a record-breaking Sydney slump. (CoreLogic)

The glisten has also gone from the two-year long tree and sea-change price boom, with regional areas also in a value slide. However, capital growth outside of the metro areas is holding more tenaciously.

Although the Australian housing market is only three months into a decline, price tumbled have been aggressive. The property market cooldown is spreading beyond the high-value capitals of Sydney and Melbourne, according to the CoreLogic figures.

Five of the eight capital cities recorded price drops in July.

In Sydney, overall dwelling values ​​are down 2.2 per cent over the month, which represents a record-breaking slump (or 4.7 per cent over three months).

The declines are even deeper when broken down by houses, which have dropped 2.5 per cent in value over July, or 5.3 per cent over three months.

READMORE: Movie star David Wenham discreetly bought in Brisbane

An auction by The Agency, North Epping, in full flight. (Peter Ray)

CoreLogic research director Tim Lawless said housing values ​​had “weakened sharply” since the Reserve Bank lifted the nation’s cash rate in May, for the first time after a 12 year honeymoon.

“The rate of growth in housing values ​​was slowing well before interest rates started to rise. However, it’s abundantly clear markets have weakened quite sharply since the first rate rise on May 5,” he said.

“Although the housing market is only three months into a decline, the national Home Value Index shows that the rate of decline is comparable with the onset of the global financial crisis in 2008, and the sharp downswing of the early 1980s.

“In Sydney, where the downturn has been particularly accelerated, we are seeing the sharpest value falls in almost 40 years.

“Due to the record high levels of debt, indebted households are more sensitive to higher interest rates, as well as the additional downside impact from very high inflation on balance sheets and sentiment.”

READMORE: The shocking number of Australians at risk of mortgage stress

$30,000 Vaucluse rental
CoreLogic research director Tim Lawless said property values ​​had “weakened sharply” since rates started to lift. (Domain)

In Melbourne, values ​​dropped 1.5 per cent over the month and Brisbane reached a milestone of negative growth – down 0.8 per cent – for the first time since August 2020.

Brisbane had been considered a strong market even while the other eastern capitals had started to go backwards.

Hobart clocked at 1.5 per cent value drop and Canberra lodged at 1.1 per cent decline.

Perth, Adelaide and Darwin defied the downturn to register growth, but since interest rates have crept upwards, the speed of that growth is slowing down, CoreLogic found.

Perth clocked 0.2 per cent growth over July, Adelaide’s market rose 0.4 per cent and Darwin had 0.5 per cent growth.

READMORE: Melbourne’s Autumn House has been crowned Australia’s best home

6 Carrington Street Parramatta Sydney houses for sale Domain property market
The housing market decline has spread through regional areas as well, but metro has fared the worst. (Domain)

In regional areas, the combined dwelling median experienced its first decline since August 2000, sitting at 0.8 per cent less, month-on-month.

Regional Victoria (-0.7 per cent), New South Wales (-1.1 per cent), Tasmania (-0.6 per cent) and Queensland (-0.7 per cent) all experienced price declines. However, regional South Australia (up 1.1 per cent) and Western Australia (an increase of 0.1 per cent) were the exception and made capital gains.

CoreLogic found most regional centers close to capital cities, which attracted strong migration during the pandemic, have posted decreases in home values ​​in the three months to July, ending a two-year run of growth.

Categories
Technology

When will Mario Kart 8 Deluxe

mario kart 8 deluxe booster course wave 2

Mario Kart 8 Deluxe is getting eight shiny new courses this August, including a range of returning favourites. Of the tracks included, Waluigi Pinball, is perhaps the most beloved, but there are also some major surprises in Wave 2 as well – including a new-to-the-series track known as Sky-High Sundae.

Sydney, Australia is also making its mainline franchise debut with this wave. Sydney Sprint, a track that takes players around the city’s Luna Park, the Sydney Harbor Bridge, and an idyllic promenade, is being adapted from mario kart tour and will inject the game with a distinctly Aussie flavour.

Read: Please, please let Delfino Square join Mario Kart 8 Deluxe

Here’s every new track included in the second wave of the Booster Course Pass:

Turnip Cup

  • New York Minute (tours)
  • Mario Circuit 3 (Super)
  • Kalamari Desert (64)
  • Waluigi Pinball (DS)

Propeller Cup

  • Sydney Sprint (tours)
  • Snow Land (Super Circuit)
  • Mushroom Gorge (Wii)
  • Sky High Sundae

You can check out the snazzy new trailer for each track below:

frameborder=”0″ allow=”accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture” allowfullscreen>

When will Wave 2 of the Mario Kart 8 Deluxe track release?

No exact time has been confirmed for the release of the new Mario Kart 8 Deluxe tracks – although based on precedent, they will likely be available in the early morning of 5 August 2022.

Wave 1 of the Mario Kart 8 Deluxe tracks launched around 10:00 – 11:00 a.m. AEST in March, and we can expect similar timing for this lot. Your best bet is to check your Nintendo Switch console during your lunch break or morning tea.

Should the tracks be available, you’ll be able to manually push through a game update, and get racing. Even if you don’t purchase the Booster Course pack, you may be able to hop into the new tracks by racing others online and hoping a new course is picked.

Mario Kart 8 Deluxe – Booster Course Pass Wave 2 will be available for players on 5 August. If you haven’t already purchased the new pack, you can grab it from the Nintendo eShop.

Categories
Entertainment

Michael Pascoe and his journey to ‘The Summertime of Our Dreams’

Michael Pascoe and his journey to 'The Summertime of Our Dreams'

Last Tuesday was the 40th anniversary of my father’s death.

On Wednesday my book, The Summertime of Our Dreamswill be launched, the coincidental timing making the event even more emotional for me and my siblings.

The book’s title comes from my father’s eulogy. How my oldest brother described his memory of the childhood our parents provided.

“It felt like one long, golden summer,” he said, “the summertime of our dreams.”

The book has taken time to happen, as life does. It’s been a decade since I started writing it – off and on, much more off than on – with thoughts coalescing for untold years before that.

That has been a good thing, a necessary thing, allowing the book to evolve and grow with our times beyond the initial attempt of paying homage to country and acknowledging the gifts and opportunities my parents worked so hard to give their children.

(There is no force on earth more powerful than the desire of a mother to give her children a better chance in life than she had.)

The Summertime of Our Dreams It grew as it absorbed and was built around a year-long conversation with a dying friend who wanted to help other people deal with mortality, to assure them that it shouldn’t be taken too seriously. That much of what you consume our lives can be let go.

And other stuff happened – cancer and COVID and history and memory – the hilarity and frailties of age and what sort of legacy we are providing for the children and grandchildren that are our legacy.

Fatherhood, mateship and mortality – but I’m assured it’s not as bad as that might sound, particularly if you can feel this land and enjoy driving through it.

Along the drive to this Wednesday’s launch, I’ve also learned a bit about having a book published, from the passion book people have for their profession to how scruffy your signature is in danger of becoming as you sign a pile of 200 copies and how bloody hard it is to record the audio book version of something that was often very personal and emotional to write, to keep your act together.

The last paragraphs written – inserted during the proofing stage – came from an incident in the surf earlier this year, recorded that day when I came home from the beach:

A morning in the Sunshine Beach surf, a man and his daughter swimming near me out where waves of not inconsequential size were breaking. The girl quite young, but a little water nymph. Locals.

The girl talking away about treading water and swimming and how big the waves were, the dad calling when to dive under or ride over them before they curled. A slight note of urgency in his voice – just to be sure the call was heeded – as a bigger set looms, calling the dive a little early, to dive deep so a small body might not be plucked up and rolled and dumped by the ocean’s endless power rising, crashing.

The girl comfortable with it all, confident with her dad. She surfaces, picking up her chatter where she left off, says something about getting out of breath sometimes.

‘Maybe that’s because you’re always talking,’ says her father with a gentle smile. She ignores him and talks on.

I’d like to tell him to lock in this memory, these moments with his little girl diving under breakers in bright sunshine, the light shining through the advancing green walls; to photograph her from her smile from her in his mind from her, to never forget this perfect morning together whatever else happens in their lives, uncomplicated minutes forever happy in trust and love.

I don’t. It would be presumptuous, might be creepy, some old bloke saying stuff like that. Entirely hypothetical anyway – I wouldn’t be able to get those words out, just the thought threatening to tear me up. Dive down and further away from them, silently wish them well and know their magic will be lost in time, too. Tears under the ocean. Saudade.

I’m told the author is expected to read a little of the book at the launch on Wednesday. I will have to choose my paragraphs carefully.

The Summertime of Our Dreams by Michael Pascoe is published by Ultimo Press and available in bookstores and online from August 3.

Categories
Sports

Australian Jess Fox wins gold in extreme kayak final at canoe slalom world championships

Jess Fox poses for a photo with her world championship gold medal, a hat and plushie

Olympic champion Jess Fox has bolstered her medal haul, winning gold and silver on the final day of racing at the canoe slalom world championships in Germany.

The record-breaking Australian successfully defended her world title in the extreme slalom event after coming second in the women’s canoe earlier in the day.

Fox edged Great Britain’s Kimberley Woods while Andorra’s Monica Doria Vilarrubla claimed the bronze medal.

Extreme canoe slalom will premiere as an Olympic event at the Paris 2024 Olympic Games and with back to back world titles, Fox is firming as the favourite.

The Olympic C1 champion was pipped in that event for less than one second by German Andrea Herzog while Great Britain’s Mallory Franklin rounded out the podium.

Jessica Fox screams in celebration at the women's extreme kayak final
Jess Fox’s two Sunday medals took her world championships medal tally to three, after winning silver in the women’s kayak on Saturday.(Getty Images: Thomas Lohnes)

Those three paddlers were the medal winners at the Tokyo Olympics, although Fox then beat Franklin for gold.

The performances brought her overall world championships medal tally to three after already winning silver in the women’s kayak on Saturday.

“It’s been an amazing weekend here in Augsburg,” Fox said.

“I can’t quite believe I managed to pull that off in extreme and to back up the world title. I’m so pleased to come away with three medals.

“For the kayak and the canoe, it was always going to be really tough to beat the Germans on their home course and I wanted to give it the best shot I could.

“I’m really pleased with the way I raced.”

Fox was joined in the C1 final by her younger sister Noemie Fox, who finished a strong eighth.

In July, the 25-year-old won silver in the extreme slalom at the International Canoe Federation (ICF) World Cup in Poland.

Noemie Fox competes in the women's canoe heats run. She is pictured with a blue canoe and a top with Augsburg on the bottom
Noemie Fox — Jess’ younger sister — finished eighth in the C1 final.(Getty Images: Thomas Lohnes)

Tasmanian Kate Eckhardt narrowly missed the final in 13th place in her first ever world championships women’s canoe semi-final.

Tim Anderson completed Australia’s representation, placing eighth in the men’s extreme kayaking event.

With one gold and two silver medals Australia placed fourth on the overall medal rankings.

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Categories
Australia

John Barilaro given New York trade role after edited panel selection report, documents reveal

John Barilaro given New York trade role after edited panel selection report, documents reveal

This was compared with another candidate, whose name is redacted, that exceeded on all four metrics. The panel recommended the unknown candidate for the New York posting, and added Barilaro as well as two others to a talent pool.

In its assessment of the former deputy premier, the panel said it “came to the view that John did have some of the relevant capabilities and experience for the role”.

“However, he had not worked internationally in a role aligned to the experience expected for high level [Senior Trade and Investment Commissioner] it candidates said.

“His lack of business development networks would mean that he would have a considerable learning curve in the role.”

But a second version of the same panel report – dated June 15 – significantly edited Barilaro’s assessment to say he “exceeds” on all four categories, and nominated him as the preferred candidate. It relegated the other three candidates to the talent pool.

The new description of Barilaro said: “Following a review of references, which included the Australian Ambassador to the US [Arthur Sinodinos]the panel concluded that John had the right motivation, capabilities and experience for the role.

“While he has not lived internationally, he has successfully developed international businesses in both his roles… He has represented the state at the highest levels on visits to the US, China, Vietnam and in Europe in a Ministerial capacity.

“While he would have a learning curve on doing business in the US, he had a strong track record of building teams as well as operating in a dynamic environment and had deep understanding of the NSW Trade and Investment environment.”

Batting away mounting pressure from his Liberal colleagues, Ayres on Monday rejected any suggestion that recently released documents have placed him closer to the process.

“Once again, these decisions are decisions for the CEO [of Investment NSW Amy Brown] and I’ve said this on numerous occasions, I do not have the power to direct the CEO of Investment NSW on who they employ as senior executive officers,” he said.

Emails released under parliamentary order last week revealed Ayres recommended a shortlist of candidates to his department secretary and asked for a name – not Barilaro – to be added to the list.

The documents have been released amid an ongoing upper house inquiry examining the decision to appoint Barilaro US trade commissioner. He has since withdrawn from the role, granting his appointment to him was a “distraction” and untenable.

Ayres published a lengthy statement on social media on Sunday night, defending the process that resulted in Barilaro being appointed, insisting it was a decision of the public service in which he could not intervene.

“Not liking Mr Barilaro or his style of politics is not a suitable reason to reject his application, let alone not select him for the role,” it said.

Ayres wrote that “integrity and politics” were at the heart of the issue, and accused NSW Labor of attacking his personal integrity to target his seat of Penrith, which he holds on a wafer-thin margin.

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“[Labor] want you to think that I would park my values ​​and personal commitment to integrity and break the law,” the statement said.

“Every action I have taken has been to remove politics from the recruitment of these roles and put the people of NSW first.”

Barilaro declined to comment. He is scheduled to front the inquiry on August 8 and 12, book-ending the first parliamentary sitting week after the winter break.

More to eat.

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Categories
US

Donald Trump slams reported prisoner swap of Brittney Griner, Paul Whelan for arms dealer

Donald Trump slams reported prisoner swap of Brittney Griner, Paul Whelan for arms dealer

Former President Donald Trump slammed the reported plan to exchange a Russian arms dealer for the freedom of WNBA star Brittney Griner and former Marine Paul Whelan during an appearance on the Clay Travis & Buck Sexton Show on Friday, saying the deal “doesn’t seem like a very good trade.”

Driving the news: It was reported earlier this week that the Biden administration was exchanging Russian national Viktor Bout — currently serving a 25-year prison sentence for supplying weapons to a terrorist organization and conspiring to kill Americans — for Griner and Whelan’s release.

What they’re saying: Trump blamed Griner for her detention, repeatedly saying Griner went to Russia “loaded up with drugs.”

  • “They’re very vigilant about drugs. They don’t like drugs. And she got caught. And now we’re supposed to get her out,” Trump said.
  • “We’re supposed to get her out for an absolute killer and one of the biggest arms dealers in the world. Killed many Americans. Killed many people. And he’s gonna get a free card and we’re gonna get her,” Trump said , referring to Bout.
  • “She knew you don’t go in there loaded up with drugs, and she admitted it. I assume she admitted it without too much force because it is what it is, and it certainly doesn’t seem like a very good trade, it does Item?”
  • “He’s absolutely one of the worst in the world, and he’s going to be given his freedom because a potentially spoiled person goes into Russia loaded up with drugs,” Trump said.

The big pictures: Griner, who has been imprisoned since February, pleaded guilty earlier this month to drug charges in Russia that carry up to 10 years in prison.

  • However, Griner said that there was “no attempt” to break the law by bringing vape cartridges containing hashish oil into Russia.
  • Griner’s lawyers also earlier this month told a Russian court that doctors in the US prescribed Griner medical cannabis two years ago for chronic pain.

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Categories
Business

ASX starts higher after Wall Street closes bumper July with rally

ASX starts higher after Wall Street closes bumper July with rally

The tech-heavy Nasdaq rose 1.9 per cent, ending the month 12.4 per cent higher, while the Dow Jones Industrial Average rose 1 per cent and notched a 6.7 per cent gain for the month.

The latest rally came as investors weighed a mix of company earnings reports and new data showing inflation jumped by the most in four decades last month.

Stock gains in recent weeks have been fueled by better-than-expected corporate earnings reports and falling bond yields, which have pulled back after soaring much of this year on expectations of higher interest rates.

Wall Street just wrapped up its best month since late 2020.

Wall Street just wrapped up its best month since late 2020.Credit:Bloomberg

“You’ve had 10-year Treasury yields come down precipitously,” said Rob Haworth, senior investment strategist at US Bank Wealth Management. “With inflation so hot, I think the expectation is the Fed stays on path, but it’s damaging enough for the economy that they’re going to have to pivot in 2023.”

Weak economic data, including a report on Thursday showing that the US economy contracted last quarter and could be in a recession, have also spurred stocks higher by giving some investors confidence that the Federal Reserve will be able to dial back its aggressive pace of rate hikes sooner than expected.

The central bank raised its key short-term interest rate by 0.75 percentage points on Wednesday, lifting it to the highest level since 2018. The Fed is raising rates in a bid to slow the US economy and quell inflation.

An inflation gauge that is closely tracked by the Federal Reserve jumped 6.8 per cent in June from a year ago, the biggest increase in four decades, leaving Americans with no relief from surging prices. On a month-to-month basis, inflation accelerated to 1 per cent in June from May’s 0.6 per cent monthly increase, the Commerce Department said Friday.

The figures underscored the persistence of the inflation that is eroding Americans’ purchasing power, dimming their confidence in the economy and threatening Democrats in Congress in the run-up to the November midterm elections.

Some market watchers advised against placing too much emphasis on the June data, however.

“This inflation metric is for June and we know much has changed since then, especially gas prices, so investors should put this inflation report into historical context,” said Jeffrey Roach, chief economist for LPL Financial. “Looking ahead, July inflation rates will ease a bit from the previous month as food and energy costs should wane in July.”

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Exxon and Chevron posted record quarterly profits last quarter amid high oil and gas prices. The two companies made $US46 billion ($66 billion) last quarter and roughly four times the amount of money they made in the same period a year earlier. Chevron shares jumped 8.9 per cent to a six-week high, while Exxon rose 4.6 per cent.

Amazon surged 10.4 per cent for the biggest gain in the S&P 500 after the company posted a quarterly loss, but its revenue jumped sharply in the quarter.

Apple rose 3.3 per cent after its quarterly earnings came in better than Wall Street expected. The iPhone maker saw its profit for the April-June period decline by 10 per cent while revenue edged up 2 per cent as it grappled with manufacturing headaches and inflation pressures.