Shares of Indian IT companies, including heavyweights Infosys, Tech Mahindra, TCS and Persistent Systems jumped up to 5% on Monday as multiple tailwinds boosted investor sentiment, pushing the Nifty IT index up around 3% to emerge as the top sectoral gainer.

The index rose to 29,905 in the morning trading hours of Monday, extending sharp gains for the second consecutive session. The index has now jumped nearly 4% over two days.

The sharp surge in IT stocks comes after a significant decline earlier this year, following the launch of plug-ins for AI startup Anthropic’s Claude Cowork agent, which could automate tasks across legal, sales, marketing, and data analysis. “We call it the ‘SaaSpocalypse,’ an apocalypse for software-as-a-service stocks,” Bloomberg quoted Jeffrey Favuzza from the equity trading desk at Jefferies as saying.

While doomsday prophets continue to debate the future of IT companies following fresh AI advancements, investors were quick to analyse the cheap valuations, leading to some pockets of buying. Nuvama, in its note, had highlighted that the IT sector is setting up for a powerful comeback, not a collapse after the brutal AI-driven selloff.

“We see no existential threat from Gen-AI,” the brokerage writes, arguing that enterprises will still need a “system integrator” to customise plug-and-play AI and software tools for their highly complex, brownfield technology stacks and to take ownership when “the system fails at 2 am.”

Also read: Reports of my death are greatly exaggerated! Why Nuvama is screaming buy on all top 10 IT stocks
The latest round of buying also comes ahead of the Federal Reserve’s policy meeting next month, which would be the first under Chair Kevin Warsh. US President Donald Trump had selected Warsh partly on expectations that he would support lower borrowing costs to stimulate economic growth. However, rising inflation raised questions over the possibility of lowering rates.

Technical view on Nifty IT

The Nifty IT index has witnessed a strong rebound after taking support near its crucial support zone, indicating the possibility of a short-term recovery in the sector, Kunal Kamble, Senior Technical Research Analyst at Bonanza had said. “On the hourly time frame, the index is currently forming an inverse Head and Shoulders pattern. A decisive breakout is seen above the neckline of this pattern and has triggered further upside momentum in the index. Such a move is likely to positively impact heavyweight IT stocks that share a high correlation with the index, including Infosys, Tata Consultancy Services, and HCL Technologies,” he added.Technically, the analyst had suggested that if the index manages to sustain above the 29,650 mark, it may open the door for a further recovery towards the 31,280 zone in the near term. However, he added that the current price action appears to be a retracement within the broader trend rather than a complete trend reversal. Therefore, traders should approach the sector with a cautious outlook.

“Aggressive or high-risk traders may consider short-term trading opportunities in select IT counters, provided the index maintains strength above key support levels. On the downside, a breach below 28,800 could once again invite selling pressure across the Nifty IT index and associated IT stocks, potentially weakening the ongoing recovery structure,” he said.

IT stocks

Persistent Systems shares were the top gainers on the Nifty IT index, jumping nearly 5%. Infosys shares followed, surging nearly 4%. Mphasis, Tech Mahindra, LTI Mindtree and Coforge shares gained over 3% each.

Also read: Wockhardt shares rocket 19% after FDA approval for antibiotic targeting drug-resistant infections

Tata Consultancy Services (TCS) and OFSS shares jumped around 2% each, while HCL Technologies and Wipro shares gained around 1% each.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

TUCSON, Ariz. — June 1 marks exactly four months since 84-year-old Nancy Guthrie was reported missing from her Catalina Foothills home in Tucson, with authorities acknowledging limited public progress in the high-profile abduction investigation despite ongoing efforts by local, state and federal agencies.

Nancy Guthrie was last seen at her residence on the evening of January 31 or early February 1. A week into the investigation, officials released doorbell camera footage showing a masked man at her front door around the time of her disappearance. Despite extensive searches, forensic analysis and community tips, no arrests have been made and no suspect has been publicly identified.

The case has drawn national attention largely due to the prominence of her daughter, Savannah Guthrie, co-anchor of NBC’s “Today” show. On Mother’s Day, Savannah Guthrie posted an emotional plea on Instagram alongside a photograph of her mother.

“Mother, daughter, sister, Nonie – we miss you with every breath,” she wrote. “We will never stop looking for you. We will never be at peace until we find you.”

The Guthrie family has offered a $1 million reward for information leading to Nancy Guthrie’s safe return. Reports have also emerged that the family has hired private investigators, with some sources claiming an investment of approximately $500,000 to supplement the official probe.

A California man, Derrick Callella, faces federal charges for allegedly sending a fake ransom note to the family. He is scheduled to appear in court on June 23.

Pima County Sheriff Chris Nanos has faced public criticism over the pace of the investigation. The sheriff’s office is no longer providing daily updates, with communication to the family now primarily handled through the FBI. Officials continue to review tips and process DNA evidence, including a hair sample recovered from the home.

The Pima County Sheriff’s Department has asked homeowners in the Catalina Foothills area to check and submit any relevant surveillance footage captured on January 11, January 31 and February 1.

Anyone with information is encouraged to contact the FBI at 1-800-CALL-FBI.

Investigation Challenges and Developments

The disappearance has presented investigators with several complexities. The masked individual seen on doorbell footage has not been identified, and forensic evidence from the scene has not yet yielded a breakthrough. The desert environment around Tucson can complicate evidence preservation, particularly as weeks turn into months.

Friction between law enforcement agencies has been noted publicly. FBI Director Kash Patel has reportedly criticized the sheriff’s department’s handling of the case, though both agencies continue to collaborate on the active investigation.

The case has also attracted false leads, including unverified ransom communications sent to media outlets. Authorities have urged the public to avoid spreading unconfirmed information that could hinder progress or distress the family.

Retired FBI special agent Jason Pack recently addressed popular online theories, including one involving a possible “wrench attack.” Pack emphasized the importance of relying on verified evidence rather than speculation.

“Not one of us outside this investigation has read the case file,” Pack said. “We haven’t seen the forensic reports, the communications records, or the full body of evidence that investigators are working from every single day.”

Family’s Ongoing Efforts

Savannah Guthrie has balanced her high-profile television career with private advocacy for her mother’s case. The family’s decision to hire private investigators reflects a common strategy in long-term missing persons investigations when families feel additional resources could uncover new leads.

The $1 million reward remains one of the largest offered in a missing persons case in recent Arizona history, signaling the family’s desperation for resolution after four months of uncertainty.

Nancy Guthrie’s disappearance has affected the Tucson community, where residents express concern for an elderly neighbor taken from her home. Local media coverage has attempted to balance public interest with respect for the active investigation.

Broader Context of Missing Persons Cases

Nancy Guthrie’s case highlights the difficulties in resolving disappearances involving older adults. National statistics show thousands of seniors go missing annually, with resolution rates depending heavily on early evidence and sustained public attention.

High-visibility cases often generate increased resources but also face intense scrutiny. The blend of official investigation, private efforts and public appeals reflects standard approaches when initial leads cool.

The FBI’s involvement indicates the case’s seriousness, as the agency typically assists in complex or potentially interstate matters. DNA processing and video analysis continue, though officials have provided few public updates recently.

Community and Media Response

The four-month milestone has renewed calls for information from the public. True-crime enthusiasts and online communities have followed the case closely, though authorities caution against speculation that could complicate the probe.

Support services for victims’ families remain available in the Tucson area. Local organizations have offered assistance to those affected by the ongoing uncertainty.

As temperatures rise in the Arizona desert, the practical challenges of evidence preservation increase. Officials continue to appeal for tips while emphasizing verified information only.

The investigation remains active with no timeline for resolution provided. Such cases can take months or years, requiring patience from both investigators and the family.

For the Guthrie family, the emotional toll continues amid the public spotlight. Savannah Guthrie’s platform has helped maintain awareness, but the private burden remains significant.

Four months after Nancy Guthrie vanished from her Tucson home, the search for answers persists. While public updates have slowed, authorities and the family continue working toward resolution in a case that has captured national attention.

Anyone with information is urged to contact the FBI tip line. The community and a watching public hope for a breakthrough that brings closure to a painful chapter in Tucson’s Catalina Foothills neighborhood.

Former UK Chancellor George Osborne, who is now a senior executive at OpenAI, told the BBC that Bailey had not contacted him directly. He said his firm did not want to “hide [5.5 Cyber] away or keep it to ourselves” but confirmed that, like Mythos, it would not become available to all.

KANSAS CITY, Mo. — Powerful overnight storms swept through the Kansas City metropolitan area and surrounding regions early Monday, June 1, 2026, unleashing heavy rainfall, strong winds and at least one tornado warning as a line of severe thunderstorms moved across the region.

A severe thunderstorm watch covering much of the Kansas City area expired at 3:45 a.m., though a separate watch remained in effect until 5 a.m. for Cooper, Howard and Saline counties in Missouri. Multiple severe thunderstorm warnings were issued throughout the night, with the strongest activity occurring around 1:30 a.m. when a tornado warning was briefly active for portions of Clay and Jackson counties, including parts of Independence and Raytown.

The storms produced localized heavy rainfall that led to flash flood warnings in Clay, Platte and Wyandotte counties. Residents reported frequent lightning, gusty winds and periods of intense downpours, though impacts varied significantly across neighborhoods, with some areas experiencing minimal precipitation while others saw significant accumulations.

First Alert Meteorologist Pete Grigsby noted that warm temperatures, sunshine and increasing atmospheric instability fueled storm development through the evening and overnight hours. Storms initially formed southwest of Kansas City before tracking east-northeast, eventually organizing into a cluster or line of thunderstorms that persisted into the early morning.

The primary threats from the stronger cells included damaging wind gusts and large hail. While the tornado threat remained relatively low overall, the brief tornado warning prompted residents in affected areas to take shelter as a precautionary measure.

Storm Timeline and Warnings

The severe weather unfolded over several hours with multiple rounds of warnings:

• At 12:08 a.m., a severe thunderstorm warning was issued for Jackson, Clay, Leavenworth, Platte and Wyandotte counties until 1 a.m.
• Around 1:12 a.m., the strongest storm moved through the Northland, with the warning extended for parts of Clay, Platte, Jackson and Wyandotte counties.
• At 1:38 a.m., a tornado warning was issued for Clay and Jackson counties until 2:15 a.m., prompting immediate sheltering in the Kansas City metro.
• By 1:53 a.m., the tornado warning was canceled, though severe thunderstorm warnings continued for several counties.
• Additional warnings followed for Chariton, Linn, Macon and Randolph counties into the pre-dawn hours.

By 3:45 a.m., most immediate threats had passed, though isolated strong storms lingered in outlying areas.

Monday Forecast and Week Ahead

Following the overnight activity, Monday is expected to be much quieter across the region. Skies should gradually clear, with temperatures moderating into the comfortable range under mostly dry conditions. The remainder of the workweek looks predominantly dry before rain chances return late Friday and continue into the weekend.

Residents are advised to remain cautious of lingering localized flooding in low-lying areas and to exercise care when traveling on potentially slick roads this morning. Minor wind damage and small hail were reported in some locations, though widespread significant impacts appear limited.

Impact on the Community

The storms arrived as many residents were sleeping, with some awakened by thunder and strong winds. Emergency services received scattered reports of downed tree limbs and minor street flooding, but no major structural damage or injuries have been reported as of early Monday morning.

Local utilities reported a small number of power outages, primarily in rural areas, with crews working to restore service. Kansas City area airports experienced minor delays due to the weather but maintained operations throughout the night.

The National Weather Service continues monitoring the region for any additional development, though the overall pattern for the next several days favors more stable conditions. Residents are encouraged to stay informed through official channels and local media for any updates.

Broader Weather Patterns

The overnight storms fit into a pattern of increasing severe weather potential across the central United States as spring transitions into summer. Warm, moist air from the Gulf combined with atmospheric instability created favorable conditions for thunderstorm development.

Such events highlight the importance of having multiple ways to receive weather alerts, including NOAA weather radios, smartphone applications and local television coverage. The quick issuance and cancellation of warnings during the overnight hours demonstrated the dynamic nature of severe weather forecasting.

As the Kansas City metro moves into June, attention will shift toward typical early summer patterns of scattered afternoon thunderstorms and warmer temperatures. The region has experienced a relatively active severe weather season so far in 2026, with several significant events already recorded.

Safety Reminders for Residents

Local emergency management officials remind residents to review their severe weather safety plans. Key recommendations include having a designated safe space away from windows during tornado warnings and avoiding travel through flooded roadways.

For those dealing with any storm-related damage, insurance documentation and proper cleanup procedures are advised. The American Red Cross and local community organizations stand ready to assist anyone affected by the overnight weather.

Looking ahead, the transition to drier conditions this week should provide relief and allow for normal outdoor activities. However, the return of rain chances late in the week serves as a reminder that summer weather patterns can change rapidly.

The National Weather Service will continue providing regular updates as the week progresses. Residents are encouraged to download weather applications, sign up for local alert systems and stay aware of changing conditions, particularly during the afternoon and evening hours when thunderstorm development is most common.

Monday’s quieter weather offers a welcome break after the active overnight period. With the severe weather threat diminishing, focus shifts to recovery efforts in impacted areas and preparation for the warmer days ahead.

California’s self-inflicted economic wounds have reached a fever pitch in 2026. 

Strapped with record-high gas prices, a staggering $31 billion transit deficit and a radical billionaire wealth tax heading to the ballot this November, the Golden State is witnessing an unprecedented mass migration.

It is no longer just a working-class flight; California’s elite are actively being courted by pro-business states, prompting luxury billboards to tell Angelenos they should “move to Miami, where they are not being persecuted for having extreme wealth.”

As ultra-high-net-worth buyers permanently sever their West Coast ties, urban affairs and real estate experts warn that the progressive enclave is “careening towards a very, very difficult period,” leaving a hollowed-out middle class left behind to bail out the deficit.

CALIFORNIA BUSINESS OWNERS ‘WORKING FOR PEANUTS’ AS COSTS, RECORD GAS PRICES AND REGULATIONS DEVOUR PROFITS

“We started to see the outmigration. It was very concentrated among poor, working-class people who were reacting to changes in the economy and prices. Increasingly, the people leaving are wealthier,” Chapman University professor Joel Kotkin told Fox News Digital. “And that means that they’re taking their tax dollars with them. So states like Florida and Texas gain enormously from this kind of trade, both from New York and from California in particular. So one of the things it’s going to do is it’s gonna put pressure on the remaining middle class to bail it out.”

“The fact that you’re paying more in income tax than you take home yourself on an annual basis is madness to me,” said RIVANI President and founder Robert Rivani, who moved his family and commercial real estate firm from L.A. to Miami in 2020. “I’d be somewhat OK with even paying that high tax rate if we didn’t have our economy falling apart, if we didn’t have such a massive increase in homelessness, if we [didn’t] have such a mass increase in crime. You’re paying all this money, but for what?”

“It’s really sad,” Douglas Elliman’s Cory Weiss added. “Some people have no choice but to leave.”

California faces a critical turning point with a multibillion-dollar transportation funding gap, high energy costs, an upcoming November ballot measure for a controversial billionaire tax and staggering exodus numbers — notably including Los Angeles County losing more than 54,000 residents in a single year.

What’s more, Weiss argued that permitting delays have slowed rebuilding efforts, saying about 25% to 30% of Palisades and Eaton fire victims will rebuild while most will walk away. The deciding factor is often not desire, but rather the math surrounding insurance disputes, labor shortages, permitting delays and rebuilding costs.

The “final nail in the coffin” for Rivani – who facilitated the California-to-Florida corporate relocations for Playboy and “Shark Tank” investor Daymond John – was losing his Malibu home to a past wildfire: “I thought California was going towards communism… We couldn’t have enough funding for enough firefighters or enough public support… I’d rather be the person that’s ahead of the trend, and that’s why I decided to move to Florida, I said, ‘I’m done with it.’”

Florida became a major beneficiary of migration from high-tax states, attracting billions of dollars in luxury real estate investments from figures including Mark Zuckerberg, Jeff Bezos, Google’s Larry Page and Sergey Brin, Peter Thiel and Larry Ellison. This shift occurred alongside a broader national trend that saw nearly $1 trillion in assets under management relocate from states such as California and New York to Sun Belt states, according to industry estimates.

It’s a type of “gold rush” that Douglas Elliman’s No. 1 agent nationwide, Dina Goldentayer, is capitalizing on. She launched billboards across Los Angeles featuring her face and a $79.5 million listing that read: “Your wealth is wanted. Step inside with me. #MoveToMiami.”

“There’s obviously a little bit of satire there. The house that’s on the billboard is my $79 million listing in Golden Beach, so there’s definitely a target market for whom that billboard is intended for,” Goldentayer told Fox News Digital. “The calls that I receive are mostly from people already in my network, top brokers out in the L.A., Beverly Hills market who we share some good laughs about the messaging of the billboard. My clients with whom I’m already working with, they think that it is brilliant.”

“Every buyer over $30 million that I’m working with currently is from California… It absolutely picked up right at the tail end of the year when the Google founders were purchasing property in Miami,” she added. “As far as the ultra-high-net-worth individuals, the billionaires, they obviously don’t feel wanted in the blue states. They are not being loved in Manhattan and Los Angeles and markets of similarity. So it is being signaled that Florida wants you.”

CEO: MIAMI’S LUXURY BOOM FUELS ‘MECCA’ FOR WEALTHY AS OTHER BUYERS FEEL PRICED OUT

“There is zero income tax here, zero. It is still a thriving economy,” Rivani said of Florida. “Yeah, you’re taxing people in California and in New York over 50%, and the economy keeps falling apart and people keep running away. So taxing the rich and getting nothing for it, not only for the wealthy people but for the economy and the people, itself, is a zero-sum solution. It does not work.”

“My entire family is still in California. We left all of our family. My parents don’t get to see their grandchild that we had here in South Florida. So it’s devastating not to be able to have those intimate moments with your family,” Rivani continued. “But then, at the end of the day, I had to say enough is enough, and I had to think for the benefit of my family and their future. And if I saw that there was a potential [for] comeback or change in the near future, I would have stayed and stuck it through. I just don’t see that happening.”

“If you’re going to really maintain a low-employment welfare state, which is where California is going,” Kotkin cautioned, “you’re going to have to tax the hell out of the middle and upper middle class, because that’s where the money is. And I think that’s going to be what will come next.”

“Part of the problem is that you’re paying these prices that you have no choice about… Whether the wealth tax passes or not, I don’t think it will make a big difference one way or the other, but what it does say if you’re a business owner, what are they going to get after next?” the professor expanded. “You have a legislature that is completely controlled by the public employees. And so, well, the public employee is in their immediate self-interest to tax people as much as possible. The problem is nobody has explained to them that eventually, you do run out of money, and eventually they’re going to have to be some sort of cutbacks. I think California right now is careening towards a very, very difficult period. And I don’t see it turning around, at least in the immediate future.”

Weiss has seen a similar decline, arguing that California’s favorable climate may not be enough to sustain its real estate market, despite remaining optimistic about the dozens of fire victim households he’s helped relocate.

“We’ve had people say, ‘OK we’re going back,’ and then they started the construction process, and they said, ‘You know, I can’t do it. It’s too sad. It’s not the same community,’” Weiss reflected. “Very, very close clients of mine, who were fortunate enough to be able to buy another house, but were going to rebuild and they have a premier lot, have just this week decided that they’re not gonna rebuild… It is still tragic for people. People are healing and then processing, but it is very emotional.”

“I invite Mayor Bass or Gavin Newsom to [hop] right in my car and go sit in some of these families’ living rooms with me and see what they’re up against financially. I’ll be more than happy to sit down,” the agent added. “This isn’t just high-end problems.”

Mayor Karen Bass’ office did not respond to multiple interview requests from Fox News Digital. Though Gov. Newsom is not running for re-election this year, he has been publicly outspoken against the proposed billionaire tax and was reportedly left sick upon learning of his state’s wealth outmigration.

“I feel a great sense of loss and disappointment that I really can’t suggest to my daughters that they live in California. I think that it’s a very sad thing to see a place that, when I arrived in 1971, this was the place to be,” Kotkin said. “I think we’re eating our seed corn. We’re no longer this destination for talent from around the world the way we once were… Whether the California Dream is gone for good is, I still think it’s uncertain. But I think the state has to make some real changes. One, it’s got to move away from the current climate regime… Unless there’s some sort of major change, it will continue to become both the place of greatest wealth and of the most intense poverty. And I think that’s a tragedy and I think it’s a violation of what California is all about.”

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“Everyone always says to me, California has got to come back. Did Detroit ever come back? Did Minnesota ever come back?” Rivani said from his $100 million Class X office that’s preparing to open in Miami Beach. “Our gas price is half the cost of California. Our living prices are still cheaper than California, but most of all, whether you’re a low-income earner or a high-income earner, you pay zero income tax. That allows more money into your family’s pocket day-to-day.”

“I think this is just the beginning of Miami’s gold rush. I think it’s just the beginning of the gold rush of South Florida as a whole,” Rivani said. “There’s literally nothing that [California] could do that would ever make me want to invest in a state like that again, I mean, unless there is a complete upheaval of the financial beliefs of that economy, I just, I can’t do it.”

“Just call the U-Haul company, get your butt on the truck, and get your ass out here because you’re going to miss the gold rush.”

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