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Wall Street reacted Thursday to this week's Fed meeting, with forecasts scattered across a range of outcomes for where monetary policy heads next. Most economists for the biggest forecasting firms expect the central bank to lower benchmark interest rates sometime later this year. Goldman left in place its call for two rate cuts this year of a quarter percentage point each, with one in July and the other in November. "If inflation comes in stronger than in our baseline, we would expect the first rate cut to be postponed to December," he wrote. For 2025, we continue to expect four rate cuts."
Persons: Goldman Sachs, David Mericle, Powell, Goldman, Andrew Hollenhorst, Morgan Stanley, Ellen Zentner, Marc Giannoni, Michael Gapen, Michael Bloom Organizations: Fed, Futures, Group, Citigroup, Barclays, Bank of America
Jeff Bridges has been married to his wife Susan for 48 years, and she supported him through cancer. He credits his long, happy life to their relationship: "Marriage is a wonderful thing." download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . And spoiler alert: A lot of that has to do with his wife, Susan Geston Bridges, who was with him. Bridges' sentiment is sweet, but also backed by scienceJeff and Susan Bridges in 1977.
Persons: Jeff Bridges, Susan, , Chaplin, Alice Tully, Bridges, Susan Geston Bridges, I've, it's, Jeff, Susan Bridges, Ron Galella, Sue, COVID, BI's Hilary Brueck, Robert Waldinger Organizations: Service, Lincoln, Business, AARP, Bridges, Harvard, Development Locations: New York City, Montana
Thursday, May 2, 2024: Cramer breaks down the opportunities in this industrial stock after earningsJim and Jeff discuss the the earnings report for this industrial stock. They also dive into the earnings for this consumer retail stock. Finally, they discuss retail earnings numbers.
Persons: Cramer, Jim, Jeff
Here's what to expect from the April jobs report on Friday
  + stars: | 2024-05-02 | by ( Jeff Cox | ) www.cnbc.com   time to read: +5 min
Allison Joyce | Bloomberg | Getty ImagesHiring likely continued at a brisk pace in April as investors look for any cracks in the labor market that could sway the Federal Reserve. If that top-line number is accurate, it actually would reflect a small step back from the average 276,000 jobs a month created so far in 2024. April's jobs market featured more strength in health care and leisure and hospitality, Glaser added. Beating expectationsIndeed, the labor market has been full of surprises this year, topping Wall Street estimates at a time when many economists expected hiring to have slowed down. "The Goldilocks scenario is an unemployment rate rise with a participation rate rise," Matus said.
Persons: Allison Joyce, Nonfarm payrolls, Dow Jones, Amy Glaser, resiliency, Glaser, we've, Drew Matus, Matus, Jerome Powell Organizations: Brunswick Community College, Bloomberg, Getty, Federal Reserve, MetLife Investment Management, of Labor Locations: Bolivia , North Carolina
In his 27 years at the helm of Amazon, Jeff Bezos taught his successor, Jassy, and others a lot about how to run one of the world's biggest businesses. One of Bezos' meeting no-nos is PowerPoints, which he has banned in company meetings. "I thought to myself, 'We can sell anything this way,'" Bezos said. Bezos says Type 1 decisions take up most of your time, while Type 2 decisions should be delegated or grouped with other smaller decisions for later. Bezos believes you should make decisions with 70% of the information you wish you had, and iterate from there.
Persons: , Andy Jassy, Jeff Bezos, Jassy, Jeff, Bezos, he's, It's, He's, they've, centibillionaire, you'll, you'd Organizations: Service, Business Locations: Amazon
Coterra Energy Why we own it: Formed by the merger of Cabot Oil & Gas and Cimarex, Coterra Energy is an exploration-and-production company with a high-quality, diversified asset portfolio. In addition, we were pleased to see Coterra raise its full-year oil production outlook without moving its capex guidance. Coterra's mix of oil and natural gas acreage gives it the flexibility to adjust its drilling focus. However, the oil guide was higher and natural gas production was lighter than anticipated. Permian Basin rigs in 2020, when U.S. crude oil production dropped by 3 million a day as Wall Street pressure forced cuts.
Persons: It's, Coterra, Tom Jorden's, we've, We'll, Jim Cramer's, Jim Cramer, Jim, Paul Ratje Organizations: Coterra Energy, Revenue, LSEG, Cabot Oil & Gas, EQT Corp, Devon Energy, Oil, Texas, Coterra, CNBC, Afp, Getty Locations: U.S, repurchased, Houston, Marcellus
But the Hollywood strikes pushed the release date for "Deadpool & Wolverine, so "The Fall Guy" stepped in. 2012's "The Avengers" brought in $207 million opening weekend and grossed over $1.5 billion worldwide. 'The Fall Guy' doesn't need to earn what past Marvel titles did to be successfulRyan Gosling in "The Fall Guy." There have to be other big winners, and that's where "The Fall Guy" comes in. "The Fall Guy" is tracking in the mid-$30 million range for this weekend, multiple industry sources told BI.
Persons: Guy, , David Leitch, Ryan Gosling, Emily Blunt, Tim Handren, Hadren, Jeff Bock, Bock, Max Organizations: Marvel, Service, WGA, SAG, Santikos Entertainment, Marvel Studios, Hollywood Locations: Hollywood, Antonio
This was achieved by allowing first-time buyers to purchase a home with a smaller down payment — as low as 3.5%. The program is still around, and it's often a great way for real-estate investors to get started. Advertisement3 ways to make the most of government loan programsWelgan also shared two strategies that real-estate investors can use to maximize the leverage offered through government loans. Buyers can now purchase up to a four-unit property with a down payment of as little as 5%. "That's been a game changer for real-estate investors," Welgan said.
Persons: , Jeff Welgan, Fannie Mae, Buyers, Welgan, Fannie Mae's, That's, ADUs, Dave Meyer, Fannie, I've Organizations: Service, Act, Business, Federal National Mortgage Association, Mortgage, Urban Locations: Los Angeles County , California, Michigan, California
Stanley Black & Decker Why we own it: Stanley Black & Decker is in the later innings of a multi-year restructuring plan. The one problem is the broader demand environment is still mostly soft, preventing management from raising the midpoint of its outlook. This dynamic makes Stanley Black & Decker one of the more interest-rate-sensitive stocks we have in the portfolio. Stanley Black & Decker has been paying a dividend for 147 consecutive years, with increases in each of the past 56. Stanley Black & Decker power drills are displayed for sale at a Home Depot store in Colma, California.
Persons: Stanley Black, Decker, we're, there's, Stanley, Patrick Hallinan, Hallinan, Jim Cramer's, Jim Cramer, Jim, David Paul Morris Organizations: Revenue, LSEG, Bosch, Techtronic Industries, Management, Industrial, CNBC, Bloomberg, Getty Locations: Colma , California
Jeff Goldblum is the latest celebrity warning his kids not to expect a life bankrolled by their parents. "It's an important thing to teach kids," the 71-year-old said in the interview. Goldblum isn't alone in feeling that it's important to encourage your children to make their own way. Sign up for CNBC's new online course How to Earn Passive Income Online to learn about common passive income streams, tips to get started and real-life success stories. Plus, sign up for CNBC Make It's newsletter to get tips and tricks for success at work, with money and in life.
Persons: Jeff Goldblum, I'm, Goldblum, what's, You've, Goldblum isn't, Anderson Cooper, James Bond, Daniel Craig, Cooper, Gloria Vanderbilt, Craig, you've, Warren Buffett Organizations: CNN, CNBC Locations: inheritances
AdvertisementThe units are combining their outsourced investment services for ultra-high-net-worth wealth clients and institutional customers. The wealth management arm is there to help them pay less taxes on their windfall and manage their fortune. That said, Morgan Stanley has drawn the line in the past at some offerings like health savings accounts. AdvertisementFor Finn, those offerings are a means to an end: converting as many of these clients as possible to become fee-paying wealth management clients. The revenue and margins of the workplace channel and E-Trade, which Morgan Stanley acquired for $13 billion in 2020, are "irrelevant," he said.
Persons: , Morgan, Jed Finn doesn't, Finn, Andy Saperstein, James Gorman's, Saperstein, Jacques Chappuis, Ben Huneke, Andy Saperstein's, Larry Lettera, Wagner, multibillion, Morgan Stanley, Finn isn't, We're, Jeff McMillan Organizations: Service, McKinsey, bank's, Business, Wall Street, Solium, OpenAI, AIMS
Skydance Media and its largest private-equity backer RedBird Capital Partners have been wooing Paramount for the better part of a year. The Skydance consortium, including fellow Skydance investor KKR, submitted a revised offer on Sunday. The deal would be worth roughly $32 billion, according to the source, with the value of Paramount and its $15 billion in debt making up the lion's share. Here's what we know about the deal, how much Redstone would get, and what a new Paramount would look like. Keeping Paramount public sets the Skydance bid apart from Apollo's potential offer, according to one of the sources.
Persons: Bob Bakish, Shari Redstone's, Tom Cruise, Mario Gabelli, Bakish, Getty, Redstone's, David Ellison, Larry Ellison, Ellison, RedBird, Gerry Cardinale, Goldman Sachs, Goldman, Skydance, Jeff Shell, Ben Affleck, Matt Damon's, Axel Springer Organizations: Skydance Media, RedBird Capital Partners, Paramount, KKR, Business, Ex, CNBC, Apple, New York Yankees, NFL, Bakish, CBS, MTV, Nickelodeon, ' Equity, Amazon Studios, Sony, Apollo, Wall Street Locations: Santa Monica , California, New York City, Skydance, RedBird
In this article Follow your favorite stocks CREATE FREE ACCOUNTRyersonclark | E+ | Getty ImagesMaking your home hurricane resistant can be a significant financial undertaking. In 2024, the national average cost to upgrade an entire house with hurricane windows runs between $1,128 and $10,293, or $100 and $500 per window, including installation, according to This Old House. Hurricane resistance is about preventing 'pressurization'Hurricanes are different and unpredictable storms, said Jeff Ostrowski, a housing analyst at Bankrate. If installing new hurricane windows aren't in the budget, shutters are lower-cost options to protect windows and other openings, said Chapman-Henderson. Talk to your insurer about possible discounts Strengthening your home against disasters may help lower your insurance cost.
Persons: Phil Klotzbach, Jeff Ostrowski, Leslie Chapman, Henderson, Jennifer Languell, Chapman, Kin, Melissa Cohn, William Raveis, Bankrate's Ostrowski, Ostrowski, Loretta Worters, Worters, Languell Organizations: Massachusetts Institute of Technology, Hurricanes, National Oceanic, Fluid Dynamics, Climate, Energy Solutions, Swiss, Finance, Colorado State University, Department of Atmospheric, Federal Alliance, Safe, Safe Homes, Department of Energy, Trifecta, William Raveis Mortgage, Insurance, Institute, Homeowners Locations: windstorms, U.S, Florida, In Florida, Alabama, Louisiana, dsireusa.org
Wednesday, May 1, 2024: Jim Cramer breaks down downgrade of this coffee stock after rough quarterJim and Jeff discuss the earnings report for this mega cap tech stock. They also dive into this consumer retail stock. Finally, they discuss the earnings beat for this chemical stock.
Persons: Jim Cramer, Jeff
Private payrolls increased at a faster than expected pace in April, indicating there are still plenty of tailwinds for the U.S. labor market, according to ADP. Companies with 500 or more workers showed the biggest gain in hiring with 98,000. In recent months, ADP has consistently undershot the Labor Department's count, though the numbers were fairly close in March. The department's Bureau of Labor Statistics reported that private payrolls increased by 232,000 for the month versus ADP's 208,000. Friday's report is expected to show growth of 204,000 in total nonfarm payrolls for April, down from March's 303,000, according to the consensus Dow Jones estimate.
Persons: payrolls, Dow Jones, Nela Richardson Organizations: ADP, Labor, department's Bureau of Labor Statistics Locations: March's
Richard Tandy, the keyboardist for the British rock band Electric Light Orchestra, whose riffs helped define the futuristic blend of Beatles-esque pop and orchestral arrangements that catapulted the group to global fame in the 1970s, has died. Mr. Lynne, who called Mr. Tandy his “longtime collaborator,” did not specify when Mr. Tandy had died or the cause of death. Born on March 26, 1948, in Birmingham, England, Mr. Tandy first entered the orbit of E.L.O. by playing the harpsichord in a band with Bev Bevan, who would later become E.L.O.’s drummer. after the release of its first album in 1972, initially playing bass guitar but later becoming the group’s keyboardist after another founding member left.
Persons: Richard Tandy, Jeff Lynne, Lynne, Tandy, , Bev Bevan, Organizations: Orchestra, E.L.O Locations: British, Birmingham, England
With its decision to hold the line on rates, the committee in its post-meeting statement noted a "lack of further progress" in getting inflation back down to its 2% target. The process has resulted in the central bank balance sheet to come down to about $7.4 trillion, or $1.5 trillion less than its peak around mid-2022. Under the new plan, the Fed will reduce the monthly cap on Treasurys to $25 billion from $60 billion. The reduction of the balance sheet roll-off, then, can be seen as a slight easing measure. The Fed uses interest rates to control the flow of money, with the intent that higher rates will dampen demand and thus help reduce prices.
Persons: Jerome Powell, Powell Organizations: WASHINGTON, Federal Reserve, Fed, Market, Dow Jones Industrial, Treasury Locations: U.S
Demonstrators supporting Palestinians in Gaza barricade themselves inside Hamilton Hall at Columbia University in New York City on April 30. On Tuesday, White House officials sharply condemned the takeover of a building at Columbia University, voicing a rebuke of tactics they said went too far. Before police were deployed to campus, pro-Palestinian protesters and Israel supporters were clashing at the school , according to multiple reports. Joseph Prezioso/AFP/Getty Images Columbia University students gather for a picket organized by the Student Workers Union (UAW Local 2710) on Monday, April 29. Stefan Jeremiah/AP Israeli flags are reflected in the sunglasses of a demonstrator in front of Columbia University on April 22.
Persons: Joe Biden, Biden, , Mike Johnson, , Karine Jean, Pierre, hadn’t, Alex Kent, Jean, ” Biden, , “ Biden, nobody’s, Donald Trump, Lauren Hitt, haven’t, Etienne Laurent, Frederic J . Brown, Caitlin Ochs, David Dee Delgado, Spencer Platt, Charly Triballeau, Kena Betancur, Seyma, Joseph Prezioso, Suzanne Cordeiro, Diane Handal, Cliff Owen, Qian Weizhong, Mike Stewart, Sarah Reingewirtz, Jay Janner, Brandon Bell, Brian Snyder, Timothy A, Clary, Matthew Hatcher, Nuri Vallbona, Jordan Vonderhaar, Zaydee Sanchez, Cameron Jones, Stephanie Keith, Andres Kudacki, Tayfun, Joe Buglewicz, Fatih Aktas, Michael M, Mary Altaffer, Scott Eisen, Columbia's, Stefan Jeremiah, Selcuk, Morehouse, , Karim Safieddine, ” Safieddine, Todd Richmond, Dahlia Saba, Trump, ” Saba, ” Barry Burden, ” Burden, that’s Organizations: CNN, Hamilton Hall, Columbia University, Getty, US, White, Heritage Month, Republican, Fox News, National Guard, Kent State University, University of California, UCLA, Getty Images Police, Police, Hamilton, Reuters Police, Columbia, Reuters, The City College of New, Protesters, Getty Images, Columbia Students, Justice, Brown University, Getty Images Columbia University, Student Workers Union, UAW, University of Texas, Low, George Washington University, AP, Sunday, New York University, Rueters Georgia State Patrol, Emory University, MediaNews, Los Angeles Daily News, Austin Statesman, USA, Network, Austin, University, Emerson College, Swarthmore College, Bloomberg, University of Southern, Reuters New York, Reuters Columbia, New York Times, Sproul Hall, Yale University, University police, York University, The New School, Massachusetts Institute of Technology, Library, Democratic, US Military Academy, West, Morehouse College, Biden, Syracuse University, University of Pittsburgh, United Steel, Trump, University of Wisconsin, Madison, Democratic Party, Elections Research Locations: New York, Los Angeles, Israel, Gaza, America, spokespeople, New York City, November’s, AFP, The City College of New York, Columbia, Columbia's, Palestine, Providence , Rhode Island, Texas, Austin, Washington ,, New, Rueters Georgia, Atlanta, Getty Images Texas, Boston, Swarthmore , Pennsylvania, University of Southern California, Berkeley, Sproul, Anadolu, New Haven , Connecticut, Cambridge, Vietnam, Biden’s, Pittsburgh, Milwaukee, Chicago
Jim Cramer on Wednesday blasted Starbucks CEO Laxman Narasimhan in a CNBC interview after the coffee giant delivered a terrible quarter and a guidance miss. The message from Narasimhan to Jim on TV: the quarter was bad due to China's choppiness and bad weather in the U.S. Jim questioned Narasimhan at every turn and strongly asked why Starbucks was still moving forward with expansion plans. Shortly after the CNBC interview, Cramer reflected on meetings he had with Narasimhan several times when he first took over as CEO from Howard Schultz. Jim's Charitable Trust, the portfolio used for the CNBC Investing Club , owns shares of Starbucks.
Persons: Jim Cramer, Laxman Narasimhan, Jim, Narasimhan, it's, China's, Tim Horton's, McDonald's, Dunkin, Cramer, Howard Schultz, that's, Jeff Marks Organizations: CNBC, Starbucks, U.S, Wednesday's, Trust, Club Locations: America, Japan, U.S
Even better, management signaled that the chemical company is moving past most of the destocking headwinds that plagued it this year. Net sales declined roughly 3% year over year to $2.9 billion, beating expectations of $2.8 billion, according to LSEG. Quarterly results Organic sales in the Electronics & Industrial business declined 2% year over year, with volume and prices both down 1%. And in Shelter Solutions, the destock looks complete after sales were flat in the first quarter and expected to rise sequentially in the second quarter. This new outlook reflects a continued electronics recovery and some easing of channel inventory destocking in industrial-based businesses.
Persons: we're, Ed Breen, Breen, Jim Cramer's, Jim Cramer, Jim, Dupont, Mark Makela Organizations: DuPont, PPG Industries, Industrial Technologies, Automotive, Electronics & Industrial, Semiconductor Technologies, DuPont's, Taiwan Semi, Samsung, Safety Solutions, Water Solutions, Solutions, CNBC, Getty Locations: bottoming, Taiwan, biopharma, Kalrez
Jeff Goldblum said he expects his kids to financially support themselves when they grow up. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementJeff Goldblum wants to support his kids — by not supporting them financially. AdvertisementGoldblum isn't the only Hollywood star who doesn't plan to financially support their kids when they're older.
Persons: Jeff Goldblum, Goldblum, Gordon Ramsay, Ashton Kutcher, Elton John, , Bruce Bozzi, Emilie Livingston, you've, I'm, You've, what's Organizations: Service, Hollywood Locations: Charlie
GE Healthcare shares sank Tuesday after the company's first-quarter sales and profits fell slightly short of the Wall Street consensus. GE Healthcare Why we own it : GE Healthcare is the global leader in medical imaging, diagnostics, and digital solutions in health care. That's what we have to say about this GE Healthcare quarter. This contributed to some of the softness in the first quarter quarter. The GE Healthcare scanner is called the Revolution CT. Martin Schutt | picture alliance | Getty Images
Persons: didn't, GE Healthcare's, , it's, Peter Arduini, Jim Cramer's, Jim Cramer, Jim, Martin Schutt Organizations: GE Healthcare, LSEG, General Electric, Philips, Siemens, GE Healthcare YTD, GE, Management, Alzheimer's, CNBC, Getty Locations: China, Covid, Jena , Germany
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBeing paid to take risks internationally, not in the U.S., says Jeff KlingelhoferJeff Klingelhofer, Co-Head of Investments and Portfolio Manager at Thornburg Investment Management, discusses the Fed and fixed income.
Persons: Jeff Klingelhofer Jeff Klingelhofer Organizations: Investments, Thornburg Investment Management Locations: U.S
Recent commentary from policymakers and on Wall Street indicates there's not much else the committee can do at this point. But they're still hopeful that they will be in a position to cut rates later." Markets actually have held up pretty well since Powell made those comments on April 16, though stocks sold off Tuesday ahead of the meeting. Some on Wall Street, though, are still hopeful that inflation data will show progress and allow the central bank to cut. The Wall Street bank's economists are preparing for the possibility that the Fed could be on hold for longer, particularly if inflation continues to surprise to the upside.
Persons: Jerome Powell, Kent Nishimura, Guy LeBas, Janney Montgomery Scott, they're, Powell, We've, there's, specter, LeBas, There's, Goldman Sachs, David Mericle, , Donald Trump, Goldman, Mericle Organizations: Banking, Housing, Urban Affairs Committee, Getty, Federal Reserve, Federal, Market Committee, Fed, Dow Jones, Department, Labor Department, Republican
The US Department of Justice is expected to recommend that marijuana be rescheduled as a Schedule III controlled substance, a classification shared by prescription drugs such as ketamine and Tylenol with codeine. The standard rulemaking process is lengthy, is subject to a public comment period, and could take months to complete. However, rescheduling marijuana will not solve that federal-state conflict, the Congressional Research Service noted in a January 16 brief. States with medical marijuana programs do currently have some federal protections in place via appropriations legislation that restricts the Justice Department from interfering in those programs. The FDA’s scientific and medical evaluation of marijuana did not address products containing plant-derived cannabidiol, commonly known as CBD.
Persons: CNN —, Biden, General Merrick Garland, Joe Biden Organizations: CNN, US Department of Justice, Associated Press, White, Office of Management, US Health, Human Services, Food and Drug, Justice Department, Staff, National Institute on Drug, Delta, National Conference of State Legislatures, Congressional Research Service, CRS Locations: Colorado
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