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“We remain focused on managing through the current economic cycle by controlling the controllables.”

Three factors are at play: environmental, economic cycle related and human.

The economic cycle of cocoa production refers to the inherent patterns of expansion and contraction in cocoa farming.

“It’s just magic the way these tiny chips are enabling the modern economic cycle we are in today,” Gelsinger said.

The Dow Jones industrial average, viewed as a barometer of the economy because it includes big manufacturing companies that tend to be more sensitive to the economic cycle, also rose 1.4 percent, to a new high.