jump

10 minutes backstage with David Lee Roth at Coachella

David Lee Roth popped out at Coachella on Friday to sing Van Halen’s classic “Jump” with Teddy Swims. After the show, we grabbed a few minutes with the 71-year-old rock star, who wore a beaded vest and tight silver-and-black trousers and sipped from a red plastic cup.

Ted, Teddy, Theodore — what do you call Teddy swims?
I call him Teddy. Teddy Swims is one of the best names ever — everybody’s saying it. All around in the city here are visitors from Germany, Holland, Japan, China, and they all know that name. Something like Greenberg? Helfenbein? [Shrugs]

What if you’d been Dave Roth?
My full name is David Lee Roth — it’s an anagram. When I was born, I had a traumatic birth — I was backwards, I had the cord around, I was hyperactive. My grandfather, who was a 70-hour-a-week physician — graduated medical school in 1920 — took a look at me two hours after I was born and told my mom, “He’s gonna be trouble.” And Mom’s way of saying “Go schtup yourself,” she added the middle name Lee. If you reverse the letters, it comes out the devil.

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You ever been to Coachella before?
This is my first time on this stage, and it’s the most forgiving audience. What a colorful, noisy bunch.

A forgiving audience? What does that mean?
It means if you go to Kenny Chesney, you gotta have the hat — the girls have to have the cut-offs. There’s rules. If you go heavy metal, you gotta cut the sleeves off a black shirt — not blue.

And here it’s catch-as-catch-can?
It’s inventive, creative, imaginative without rules — the way artwork perhaps used to be in the middle ’80s. In 1985, graphic art, sculptural art, automotive art — there were no rules. Today, you’re not getting on any gallery walls without a political bias. And today, here, I’m not sure what the bias is. I can wear something like this and it’s like, “Too bad you showed up in your day clothes.”

What is this outfit?
This is Artemis moon mission. I’m vacuum-packed for your safety — kid-tested, mom-approved. She likes it because it’s good for ’em. I like it because it’s gonna taste so good.

“I got my back against the record machine,” from “Jump.” Could you explain to the kids what a record machine is?
It’s a jukebox. And it’s a visual — like Broadway: [Sings] “When you’re a jet, you’re a jet / All the way from your first cigarette…” Now, I know Tony like I know me — the playground is neutral territory.

Wait, who’s Tony?
West Side Story.”

What’s a jukebox have to do with “West Side Story”?
It suggests an image of a human being leaning against a jukebox saying, “I may not be the best thing in your mind today — but I’m the right tool for the job.”

Van Halen’s highest-charting single — what was it?
Either “Panama” or “Jump.”

It was “Jump” — a No. 1 hit in 1984. Remember what was No. 2 behind it?
Oh my God, “Boogie Oogie Oogie”?

Karma Chameleon,” Culture Club.
OK, that’s Boy George.

You ever meet Boy George?
Yes, I did. Boy George would have fit into Coachella perfectly. Where is he? A Boy George comeback at Coachella? Stop lying.

What’s the best Van Halen song?
It depends what verb you’re attaching.

You choose.
Pairing, for example, the right alcoholic beverage with the right firearm is important. A light Pilsner goes with that new Czech machine pistol we saw in the last John Wick movie. And a Benelli shotgun for Guinness stout. Van Halen music is the same thing: What verb are you participating in? Are you dancing? How long? The whole night. Are we running? Sure. Who with? The devil.

What’s in your cup here?
This is what made me what I am today — fat and unemployed.

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Stocks jump and oil drops as Trump renews hopes of Iran war ending

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Renewed optimism over a possible de-escalation in the Iran war, now in its fifth week, gave a strong boost to stock markets in Europe and Asia on Wednesday.


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At the time of writing, the Euro Stoxx 50 is up over 1%, while the broader pan-European Stoxx 600 is around 2.5% higher.

In London, the FTSE 100 has risen roughly 0.8% with Germany’s DAX 30 and France’s CAC 40 making equal moves to the upside. Italy’s FTSE MIB has jumped the most and is 1.7% higher.

During a press gaggle at the White House on Tuesday, US President Donald Trump stated that the country would “probably” stop attacks on Iran within two to three weeks “‘whether we have a deal or not”.

Following Trump’s comments, the front month future contracts for oil also saw a sharp decline, with Brent crude and WTI both trading around 4% lower and below $100 a barrel.

Trump also stressed that the US would “not have anything to do with” what happens next in the Strait of Hormuz.

Despite the relief, markets are eagerly anticipating Trump’s address to the nation about the conflict, which will occur overnight on Wednesday, according to the White House Press Secretary.

Asian markets, US futures and precious metals

Asian shares also rose sharply on Wednesday after Trump’s statement.

At the time of writing, South Korea’s Kospi has recovered losses from earlier this week, surging over 8%, while Tokyo’s Nikkei 225 rose more than 2%.

A survey by Japan’s central bank released on Wednesday showed that business sentiment among major manufacturers had improved despite concerns over the Iran war.

Hong Kong’s Hang Seng index is also over 2% higher, while the Shanghai Composite has jumped around 1.5%. Additionally, India’s Sensex rose roughly 2%, Australia’s ASX 200 is up 1% and Taiwan’s Taiex climbed more than 4%.

“De-escalation hopes have given markets a lift, but we think the effects of the war would, in many cases, persist even if it were to end soon,” said Thomas Mathews, head of markets for Asia Pacific at Capital Economics, in a research note on Wednesday.

US futures are also all trading between 0.7% and 1.2% higher.

The move comes after US stocks recorded their strongest day in almost a year on Tuesday, when the S&P 500 rose 2.9%, its largest gain since May.

The Dow Jones Industrial Average climbed 2.5%, while the Nasdaq jumped 3.8%.

“It’s worth considering how markets might respond if the war were to end very soon. Do markets have further to recover if sentiment continues to improve? The answer is almost certainly yes,” Mathews added.

In other trading, gold rose is up 1.4% trading at around $4,730 while silver is down roughly 1% to $74.3 an ounce.

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Seoul stocks jump over 5 pct on chip rally

This photo, taken Wednesday, shows the trading room of Hana Bank in central Seoul as South Korean stocks surged more than 5 percent on a semiconductor rally. Photo by Yonhap

South Korean stocks surged more than 5 percent Wednesday, on a semiconductor rally boosted by the ongoing U.S. chip giant Nvidia’s global artificial intelligence (AI) conference. The Korean won strengthened against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) closed up 284.55 points, or 5.04 percent, to 5,925.03.

The index came under strong buying pressure from foreigners and institutional investors, triggering the Korea Exchange (KRX), the country’s main bourse operator, to issue a buy-side sidecar near the closing bell.

Program trading for the KOSPI was suspended for five minutes at 2:34 p.m., according to the KRX.

Offshore and institutional investors snapped up a combined net 4 trillion won (US$2.7 billion) worth of equities. Retail investors, on the other hand, offloaded 3.9 trillion won.

Trade volume was heavy at 1.1 billion shares worth 26.1 trillion won, with winners far outnumbering losers 614 to 278.

Investors’ appetite for semiconductors increased, following remarks from Nvidia’s Chief Executive Officer (CEO) Jensen Huang on Samsung Electronics, Lee Kyoung-min, an analyst at Daishin Securities, said.

During the ongoing four-day event in California, Huang said on Monday he wants to “thank Samsung, who manufactures the Groq LP30 chip” for the company, adding that the chips are in production and would be shipped in the second half of this year.

“The stock market’s sensitivity to geopolitical issues in the Middle East is markedly declining,” Lee added.

Most large cap shares ended bullish.

Top-cap Samsung Electronics jumped 7.53 percent to 208,500 won, while its chipmaking rival SK hynix climbed 8.87 percent to 1,056,000 won.

Nuclear power plant builder Doosan Enerbility rose 2.78 percent to 107,300 won, on anticipations alternative energy sources would benefit from the recent spike in oil prices.

Brent crude, the international oil benchmark, has remained at the US$100 per barrel level for the past five sessions.

In contrast, defense shares lost ground as investors went to lock in profits. Hanwha Aerospace inched down 0.43 percent to 1,390,000 won, and LIG Nex1 retreated 2.27 percent to 689,000 won.

The Korean won was quoted at 1,483.1 won against the U.S. dollar as of 3:30 p.m., up 10.5 won from the previous session.

Bond prices, which move inversely to yields, closed higher. The yield on three-year Treasurys fell 6.3 basis points to 3.261 percent, and the return on the benchmark five-year government bonds retreated 6.7 basis points to 3.511 percent.

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