Art Cashin, UBS’ director of floor operations at the New York Stock Exchange who spent more than 60 years on Wall Street, has died aged 83.
“It is with a heavy heart that I inform you of the passing of ArthurCashin, Jr., a true giant in our industry, highly regarded market pundit,” Bill Carroll, head of sales and development at UBS Wealth Management USA, said in a memo to employees which was seen by Reuters on Monday.
Cashin, dubbed ‘Wall Street’s version of Walter Cronkite’ by The Washington Post, was a regular on CNBC, delivering stock market commentary and analysis to the business news channel’s viewers for more than 25 years.
He began his business career at Thomson McKinnon in 1959. In 1964, at age 23, he became a member of the NYSE and a partner of P.R. Herzig & Co.
In 1980, Cashin joined investment bank PaineWebber and managed their floor operation. PaineWebber was acquired by UBS in 2000.
At that time, the NYSE floor was the hub for the vast majority of all trading activity in the United States.
Cashin was one of three senior executive floor governors and also served as a member of the Bond Club of New York. He was also part of the high-IQ society Mensa.
In addition to his role at UBS, he is renowned for his daily newsletter, Cashin’s Comments, which has been published for over 25 years and reaches more than 100,000 readers daily. He has also been a regular on CNBC’s Art Cashin on the Markets, a segment airing several times a week, for more than two decades.
“It’s fair to say that over this time, Art Cashin became a household name for investors across the country, who benefited from his savvy insight on the markets, good humor and wit, while being one of UBS’s strongest brand ambassadors,” the memo said.
Cashin was born in Jersey City, NJ, in 1941, according to CNBC, which first reported on his death.
CNBC did not immediately respond to a Reuters request for comment. Cashin’s family could not be reached for comment.
Sir Keir Starmer has said stability in the Middle East is “a priority” following US strikes on Iran’s nuclear facilities, as the world reacted to the attack.
The prime minister also called on Iran to “return to the negotiating table” to “reach a diplomatic solution to end this crisis”.
The US struck three sites in Iran early on Sunday morning, with Donald Trump boasting the country’s key nuclear sites were “completely and fully obliterated” in an address to the nation from the White House. He warned there could be further strikes if Iran retaliates.
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2:30
US strikes on Iran explained
In a statement, Sir Keir said: “Iran’s nuclear programme is a grave threat to international security. Iran can never be allowed to develop a nuclear weapon, and the US has taken action to alleviate that threat.
“The situation in the Middle East remains volatile and stability in the region is a priority. We call on Iran to return to the negotiating table and reach a diplomatic solution to end this crisis.”
He said the UK was not involved in the attack but was informed about them in advance.
Sir Keir later told reporters there was a “risk of escalation” and added: “That’s a risk to the region. It’s a risk beyond the region, and that’s why all our focus has been on de-escalating, getting people back around to negotiate what is a very real threat in relation to the nuclear programme.”
The prime minister will chair a meeting of the government’s COBRA crisis committee on Sunday afternoon.
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Trump: Iran strikes ‘spectacular success’
Netanyahu praises Trump
Israel‘s Prime Minister Benjamin Netanyahu praised Mr Trump for the strikes, saying: “Your bold decision to target Iran’s nuclear facilities with the awesome and righteous might of the United States will change history.
“History will record that President Trump acted to deny the world’s most dangerous regime the world’s most dangerous weapons.”
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‘Trump’s bold decision will change history’
UN secretary-general ‘gravely alarmed’ by US attack
But UN secretary general Antonio Guterres said he was “gravely alarmed by the use of force” by the US against Iran.
“This is a dangerous escalation in a region already on the edge – and a direct threat to international peace and security. There is a growing risk that this conflict could rapidly get out of control – with catastrophic consequences for civilians, the region, and the world.”
Image: UN secretary-general Antonio Guterres. Pic: Reuters
European Union foreign policy chief Kaja Kallas urged all sides to step back and return to the negotiating table. “Iran must not be allowed to develop a nuclear weapon,” she said in a post on X.
“I urge all sides to step back, return to the negotiating table and prevent further escalation,” she said, adding that EU foreign ministers will discuss the situation tomorrow.
Image: EU foreign policy chief Kaja Kallas. Pic: Reuters
How the world reacted to the strikes
World leaders reacted to the strikes with calls for diplomacy and de-escalation, with some fearing they could push the region towards a wider conflict.
Russia’s former president and current deputy chair of its security council, Dmitry Medvedev, said on the Telegram messaging app: “Trump, who came in as a peacemaker president, has started a new war for the US.”
China strongly condemned the attack, with its foreign ministry saying the move seriously violates the UN charter and worsens tensions in the Middle East. It urged the parties involved to cease attacks as soon as possible and begin negotiations.
German Chancellor Friedrich Merz urged Iran to enter immediate talks with the US and Israel to find a diplomatic solution to the conflict, a government spokesperson said.
Image: German Chancellor Friedrich Merz. Pic: Reuters
France urged all sides to show restraint, with its foreign minister Jean-Noel Barrot saying Paris is “convinced that a lasting resolution to this issue requires a negotiated solution within the framework of the Non-Proliferation Treaty”.
Italy’s foreign minister Antonio Tajani said after the attack that his country’s government hopes “a de-escalation can begin and Iran can sit down at the negotiating table”.
Cuba’s President Miguel Diaz-Canel said on X: “We strongly condemn the US bombing of Iran’s nuclear facilities, which constitutes a dangerous escalation of the conflict in the Middle East. The aggression seriously violates the UN Charter and international law and plunges humanity into a crisis with irreversible consequences.”
Image: Cuba’s President Miguel Diaz-Canel. Pic: Reuters
Venezuela’s foreign minister Yvan Gil said his country’s government “condemns US military aggression” and “demands an immediate cessation of hostilities”.
NATO member Turkey said the strikes raised the risk of a regional conflict spreading globally, with the foreign ministry saying the spread of the conflict into a wider global war must not be allowed.
The Iraqi government condemned the strikes, saying they create a grave threat to peace and security in the Middle East.
Saudi Arabia expressed “deep concern” but stopped short of condemning the attack.
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Both Hamas in Gaza and the Houthis in Yemen – part of Iran’s so-called Axis of Resistance – condemned the strikes, with the Houthis vowing to support Iran in its fight against “the Zionist and American aggression”.
Lebanon’s Prime Minister Nawaf Salam said his country needs to stay away from any possible regional spillover from the conflict.
Image: Lebanese Prime Minister Nawaf Salam. Pic: Reuters
Qatar said it “regrets” the escalating tensions and its foreign ministry urged all parties to show restraint and “avoid escalation, which the peoples of the region, burdened by conflicts and their tragic humanitarian repercussions, cannot tolerate”.
The United Arab Emirates called for an immediate halt to the escalation to “avoid serious repercussions” in the region, with its foreign ministry warning they could lead the region to “new levels of instability”.
Oman condemned the strikes, with a spokesperson for its foreign ministry warning they threaten “to expand the scope of the conflict and constitute a serious violation of international law and the United Nations charter”.
Maryam Rajavi, the head of Iranian opposition group National Council of Resistance of Iran, said from Paris: “Now [Supreme Leader] Khamenei must go. The Iranian people welcome the end of the war and seek peace and freedom.
“Khamenei is responsible for an unpatriotic project that, in addition to costing countless lives, has cost the Iranian people at least $2trn (£1.5trn) – and now, it has all gone up in smoke.”
A powerful X1.9-class solar flare blasted out of the sun’s active region 4114 on June 19, peaking at 9:50 p.m. EDT (0150 GMT, June 20), and led to a shortwave radio blackout over the Pacific Ocean and, in large part, for Hawaii. Although the flare was accompanied by a sizable eruption of X-ray and ultraviolet light, it did not appear to be associated with a very powerful coronal mass ejection (CME), so there will be no auroras for hopeful skywatchers at this time. The energetic flare, however, destabilised a substantial magnetic filament in the southern hemisphere of the sun, hinting at more activity to come.
X1.9 Solar Flare From Sunspot 4114 Disrupts Radio Signals, Sparks Fears of Future Geomagnetic Storms
As per Space Weather Live and spaceweather.com reports, the electromagnetic radiation from the flare reached Earth within minutes, ionizing the upper atmosphere and disrupting shortwave radio communication below 25 MHz. In the Pacific region, ham radio operators reported an abrupt loss of signals following the peak of the flare. That happens due to a powerful solar disturbance that collides with the Earth’s ionosphere, increasing electron density and weakening the ability to absorb high-frequency signals. The outcome is signal attenuation or loss, as normally occurs during periods of intense solar activity.
Solar flares are ranked in strength, and X-class flares are the most intense ones. The flares from sunspot 4114 — rated at X1.9 — are one of the strongest in the current solar cycle. It follows an earlier eruption from the same region just days ago, rated at X1.2. The region has now drawn close monitoring due to its continued magnetic complexity and explosive potential.
Although no CME accompanied the latest flare, experts suggest future eruptions from region 4114 could be more geoeffective. If a CME is launched in subsequent flares, geomagnetic storms and auroral activity may follow.
Space weather forecasts and aurora updates are available on NOAA’s 3-day geomagnetic outlook and dedicated solar activity blogs.
LONG POND, Pa. — Dale Earnhardt Jr. might already be NASCAR’s most popular crew chief.
He’s certainly an undefeated one.
Pressed into unexpected service, Earnhardt called the shots for 18-year-old prospect Connor Zilisch in the No. 88 Chevrolet and they landed in victory lane Saturday in the second-tier Xfinity Series race at Pocono Raceway.
“We had a lot of things going our way,” Earnhardt said.
Earnhardt — who won NASCAR’s most-popular driver award 15 times — made a pit stop from his day job as team owner at JR Motorsports with normal crew chief Mardy Lindley suspended one race because of a lug nut infraction this month at Nashville.
Aside from his duties as team owner, Earnhardt also was at Pocono for his role on the Prime broadcast for the NASCAR Cup Series race Sunday.
“Lot of fun for me today,” Earnhardt said. “I missed the thrill of competition. I love broadcast, don’t get me wrong. But nothing compares to driving or just being part of the team. Being an owner doesn’t really deliver like this. This is a lot of fun.”
Earnhardt had his wife and two young daughters in tow with him as he made the celebratory walk to victory lane. Oldest daughter Isla Rose clutched the checkered flag while youngest Nicole Lorraine soaked in the scene from her dad’s arms.
The win continued a banner season for the NASCAR Hall of Fame driver – who swept two races at Pocono as a driver in 2014 – after JR Motorsports and reigning Xfinity Series champion Justin Allgaier qualified for the season-opening Daytona 500 and secured their Cup Series debut.
Earnhardt won two Daytona 500s, in 2004 and 2014, and 26 races overall.
His side hustle Saturday was made a bit easier with Zilisch behind the wheel. Zilisch, who turns 19 in July, raced to his second Xfinity victory of the season and third of his young career. He won his Xfinity debut last year at Watkins Glen International.
Earnhardt even pitched in during the race and tossed tires over the wall during pit stops.
Zilisch took the win down to the wire and finally passed Jesse Love with five laps left in the race. Love finished second.
“Dale Junior, not too bad on the box,” Zilisch said. “Pretty cool to have him up there. Getting him a 1-for-1 win as crew chief is pretty awesome.”