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The Federal Reserve is expected to announce Wednesday its first interest rate cut since 2020. While layoffs remain low, hiring has virtually ground to a halt, especially in some white-collar professions, making the job search process unusually difficult for many. That would entail a cut of at least 0.5% at some point by the time the Fed announces its interest rate in January. The Fed believes Wednesday's anticipated cut, and ones likely coming over the next several months, should put a floor under further economic deterioration. "Layoffs remain low, job openings remain high, GDP is growing at a healthy pace, and there have not been any major negative shocks," David Mericle, Goldman Sachs' chief U.S. economist, said in a note to clients.
Persons: Jay Bryson, Wednesday's, David Mericle, Goldman Sachs Organizations: Federal, Bank of America, Fed, NBC News, Citi Locations: U.S, Wells Fargo
Slowing rate of change in earnings growth There are two important trends to follow in earnings. In the case of Nvidia, earnings are continuing to increase, but the rate of change is decelerating. This earnings report will likely be the final time in this stretch that Nvidia will see triple-digit earnings growth. But the impact has been shrinking – just as the overall Mag 7 impact has been diminishing with second quarter earnings growth broadening out. Last season (Q1), Nvidia was responsible for a little more than one-third of the S & P 500's 8% earnings growth.
Persons: ChatGPT, It's, Wall, Jensen, Josh Brown, Christopher Rolland, I've, you've, Lori Calvasina, it's, Matt Bryson, Nvdia's, Huang, Stifel, Blackwell, Mark Lipacis, NVDA, Hopper, Angelo Zino, Dan Ives, Ives, Brown Organizations: Nvidia, Jensen Huang's, Ritholtz Wealth Management, CNBC, RBC Capital Markets, Microsoft, Meta, Analysts, Nvdia's Blackwell, Blackwell Locations: Susquehanna, Wedbush
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed will ease by one-and-a-quarter percent by end of year, says Wells Fargo's BrysonJay Bryson, Wells Fargo chief economist, joins CNBC's 'The Exchange' to discuss why he thinks the Fed 'has a lot of wood to chop' with rate cuts, economic outlooks, and more.
Persons: Wells Fargo's Bryson Jay Bryson, Wells Locations: Wells Fargo
Tropical Storm Debby, which came ashore as a category 1 hurricane along the Florida coast early Monday, will move across the Southeast on Tuesday at roughly the speed of a human walking. Like Debby, both storms stalled over the region and became reminders that a hurricane’s hazards can persist and intensify for days after it makes landfall. Even small changes in the steering currents could result in Debby shifting and changing where the rain falls. The storm will most likely move slightly offshore, allowing some restrengthening before the storm turns north and moves back inland. Debby will funnel huge amounts of moisture northward and collide with cooler air moving into the region, allowing storms to form.
Persons: Debby, Alex Lamers, Hurricane Harvey, , Erica, William B, Alberto, Zack Taylor Organizations: Weather Prediction, Houston Metro, Weather, Atmospheric Administration, Iowa State University, Davis Locations: Georgia, South Carolina, Florida, Houston, Hurricane Florence, North Carolina, Savannah, Ga, Charleston, S.C, “ Charleston, Florence, Baltimore, Boston
Wedbush: Concerned about Intel but not the overall chips space
  + stars: | 2024-08-02 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWedbush: Concerned about Intel but not the overall chips spaceMatt Bryson, Senior Vice President at Wedbush, discusses Intel's weak quarter and the impact on chip stocks.
Persons: Matt Bryson Organizations: Intel Locations: Wedbush
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewTesla's biggest competitor, BYD, just launched a big partnership with Uber. AdvertisementThe partnership also ups BYD's international visibility, as Uber passengers ride in cars they might not have otherwise tried out. AdvertisementThe Uber partnership may also mitigate a European Union tariff on Chinese EV makers. In late June, Volkswagen said it would invest up to $5 billion in US EV maker Rivian, which would develop software for both companies' cars.
Persons: , Uber, Matt Bryson, Bryson, giant's, Dara Khosrowshahi, BYD, Tesla, Tesla's robotaxis Organizations: Service, Business, Xchange Leasing, Lion City Rentals, Tesla, Western, Uber, Volkswagen, Rivian Locations: Europe, America, East, Canada, Australia, New Zealand, Singapore, Russia
Large portions of England and Wales braced for considerable heat on Tuesday, with government officials issuing an alert for vulnerable people and meteorologists warning it would be hottest day of the year so far. The heat in Britain may also stir up sweaty memories of a string of brutally hot days across the country in July 2022, when schools, doctors’ offices and museums shut their doors while the government urged people to work from home. In Britain, few people have air conditioning at home, and much of the country’s housing stock was built to retain heat. Transport delays in very hot or very cold weather are not uncommon. “Much of the U.K. is entering a warm or even hot interlude of weather, with some places in England and Wales likely to meet heat-wave criteria in the coming days,” Frank Saunders, the chief meteorologist at the Met Office, Britain’s national weather service, said in a news release on Tuesday.
Persons: ” Frank Saunders Organizations: Met Office Locations: England, Wales, London, Britain
Monday was most likely the hottest day ever recorded on Earth, with a global average of about 62.87 degrees Fahrenheit, or 17.15 degrees Celsius, preliminary data showed — beating a record that had been set just one day before. The data, released on Wednesday by the Copernicus Climate Change Service, a European Union institution that provides information about the past, present and future climate, caused alarm among some experts. Earlier this week, the service announced that Sunday had set a record, with a global average of about 62.76 degrees Fahrenheit, or 17.09 degrees Celsius. A day later it announced that Monday was the hottest day since at least 1940, when records began. Before this week’s back-to-back records, the previous record, 62.74 degrees Fahrenheit, or 17.08 degrees Celsius, was set last year, on July 6, besting a record that stood since 2016.
Organizations: European Union
Research shows that young adults are the unhappiest age groupBlanchflower's most recent working paper, co-authored with Alex Bryson and Xiaowei Xu, shows a change in the pattern, with happiness starting off low in young adulthood and increasing with age. Alongside other researchers, Blanchflower analyzed data from the Centers for Disease Control and Prevention's Behavioral Risk Factor Surveillance System. But Wimsatt Childs agrees with Blanchflower that social media likely plays a role in this new pattern of unhappiness. "What social media has done in a lot of ways is it has amplified concerns that were already well underway," she says. Social media — apps like Snapchat, Instagram and TikTok — floods people with information and can lead to comparison among peers on a larger scale, she adds.
Persons: David Blanchflower, Blanchflower, Alex Bryson, Xiaowei Xu, Amber Wimsatt Childs, Wimsatt Childs, I'm Organizations: Dartmouth College, Research, Scientific, Centers for Disease Control, Yale School of Medicine Locations: U.S
Two Los Angeles-area beaches were shut down for 48 hours after thousands of gallons of sewage spilled into a creek — but that did not seem to bother the crowd of dog walkers, runners, yogis and surfers enjoying the beach early on Tuesday before the day’s heat set in. An estimated 15,000 gallons of sewage — about the volume a backyard swimming pool holds — were discharged on Saturday afternoon in a neighborhood roughly seven miles east of the Santa Monica Pier, entering Ballona Creek, the Los Angeles County Department of Public Health said in a news release. “The cause of the sewage discharge was a broken water main that pushed sand into the sewer, causing the blockage,” the agency said.
Organizations: Santa, Santa Monica Pier, Los Angeles County Department of Public Health Locations: Angeles, Santa Monica, Ballona
The bodies of two sailors who planned to sail from Nova Scotia to the Azores using green energy were found washed ashore at a Canadian national park this month, four weeks after they were last seen, the authorities said. The Royal Canadian Mounted Police responded to calls on July 10 that a 10-foot inflatable lifeboat containing human remains had been discovered on Sable Island National Park Reserve, according to a news release from the agency. The authorities did not identify the remains, but said they believed they were those of a 70-year-old man and a 60-year-old woman from British Columbia. A Facebook post by the man’s son, James Clibbery, later identified them as James Brett Clibbery and his wife, Sarah Justine Packwood, who had left Halifax Harbor in Nova Scotia on June 11 bound for the Azores. “The past few days have been very hard,” the younger Mr. Clibbery said in the post, adding that DNA tests would be carried out to confirm their identities.
Persons: James Clibbery, James Brett Clibbery, Sarah Justine Packwood, Clibbery, Organizations: Royal Canadian Mounted Police, Reserve, Halifax Locations: Nova Scotia, Azores, Canadian, Sable, British Columbia
TROON, Scotland — Xander Schauffele was for so long the best golfer without a major. The ever-steady 30-year-old star never topped the Open leaderboard Thursday to Saturday, always quietly lurking in the top 10 before shooting a Sunday 65 to win the 152nd Open Championship for his second major title in three starts. For the first time since 1982, Americans — Schauffele (Open Championship, PGA Championship), Scottie Scheffler (Masters) and Bryson DeChambeau (U.S. Open) — have claimed all four major championships. Sunday began with Horschel, a 37-year-old seeking his first major championship, in the lead by one stroke, playing in the final group of a major’s final round for the first time. Now Schauffele enters the Olympics and the rest of the season no longer an admirable player who can’t win.
Persons: Xander Schauffele, Schauffele, Justin Rose, Billy Horschel, Schauffele’s, Thriston Lawrence bogeyed, — Schauffele, Scottie Scheffler, Bryson DeChambeau, , Arnold Palmer, Lawrence, Dan Brown, Rose, standouts, Sam Burns, Russell Henley, Scheffler, Horschel, Brown, Burns, Shane Lowry, birdies, Jon Rahm, Viktor Hovland, Rory McIlroy, Kevin C, Cox Organizations: 152nd, Royal Troon, May’s PGA, Valhalla, Pinehurst, Sunday, Horschel Locations: TROON, Scotland, Scottish
On Sunday, the American clinched the Open Championship to claim the second major of his career. South Africa’s Thriston Lawrence finished one shot behind Rose and Horschel in tied-fourth, with American Russell Henley a further stroke back. Yet the attacks were coming from all angles now, the most ferocious of all from playing partner Lawrence and Schauffele, two holes ahead. The steely-eyed barrage continued with two more birdies across the next three holes to open up a three shot lead. Rose and Lawrence had barely erred, each bogeying just once, but such was the relentless pace set by Schauffele.
Persons: Xander Schauffele, Billy Horschel, Justin Rose, Brooks Koepka, Scottie Scheffler, Bryson DeChambeau’s, I’ve, Horschel, Rose, Africa’s Thriston Lawrence, American Russell Henley, Scheffler, leapfrog Ireland’s Shane Lowry, Jon Super, Lawrence, Schauffele, , Peter Morrison, pip DeChambeau Organizations: CNN, Little, American, Royal Troon, PGA, Masters, , Schauffele’s Locations: Scotland, Africa’s, South Ayrshire, Kentucky
CrowdStrike, the cybersecurity firm that services numerous industries, was down across parts of the world on Friday morning, halting news broadcasts and grounding flights. In Australia, the New South Wales Police Force said on social media that it was aware of a system outage. Problems persisted at Sydney Airport, one Australia’s largest and busiest transportation hubs, just as the weekend was getting underway for many. “A global technical outage has impacted some airplane operations and terminal services,” the airport said on social media. “Flights are currently arriving and departing, however there may be some delays throughout the evening.”
Persons: Organizations: New South Wales Police Force, Sydney Airport, Locations: Australia
CNN —Rivals and cameramen, make way – Shane Lowry is coming through at the Open Championship. Having narrowly survived sending his tee shot onto the train tracks that run alongside the 488-yard hole, the world No. So allowing myself to do that, without getting in your own way.”Lowry searches for his ball on the 11th hole. Owen Humphreys/PA Images/Getty ImagesMcIlroy among big stars to crash outIt was an entirely contrasting day for Northern Irishman Rory McIlroy, as the world No. With McIlroy, world No.
Persons: Shane Lowry, Lowry, , , ” Lowry, Owen Humphreys, Justin Rose, Daniel Brown, I’ve, you’re, McIlroy, Rory McIlroy, McIlroy’s, ” McIlroy, Harry, “ I’ve, ” Woods, Bryson DeChambeau, Wyndham Clark, Ludvig Aberg, Viktor Hovland, – Scottie Scheffler, Xander Schauffele, Collin Morikawa, Patrick Cantlay, Jon Rahm – Organizations: CNN — Rivals, Royal Troon, Railway, PGA Tour, Northern, Troon Locations: Scotland, Northern Ireland
The outage was attributed to CrowdStrike, a cybersecurity firm whose software is used by scores of industries around the world to protect against hackers and outside breaches. At least three major U.S. airlines, American, United and Delta, grounded all flights, according to the Federal Aviation Administration, one day after a major outage at Microsoft briefly grounded some flights. “A global technical outage has impacted some airplane operations and terminal services,” the airport said on social media. Disruptions were also reported at Berlin Brandenburg Airport, Schiphol Airport in Amsterdam and Dubai International Airport. Microsoft said the problem had affected multiple systems for customers in the central United States.
Persons: CrowdStrike, ” Michelle McGuinness, Australia’s, Organizations: United, Federal Aviation Administration, Microsoft, Sydney Airport, , Cyber Security, Berlin Brandenburg Airport, Dubai International Locations: Australia, Amsterdam, Phoenix, United States
Airports across the United States slowly descended into chaos early Friday after a worldwide tech outage disrupted flights and stranded passengers. At least five airlines — Allegiant Air, American, Delta, Spirit and United — issued ground stops, according to the Federal Aviation Administration. is closely monitoring a technical issue impacting IT systems at U.S. airlines,” the agency said in a statement. “Several airlines have requested F.A.A. assistance with ground stops for their fleets until the issue is resolved.”It was unclear how long the ground stops were expected to last, but it was causing some headaches for travelers.
Persons: Organizations: Federal Aviation Administration Locations: United States, Delta
AdvertisementEllen was a member of Alliance Française, an organization centered on learning French and understanding the culture in France. It helped that we belong to the Association of American Residents Overseas, which has about 1,000 members in Paris. The food markets are phenomenalOn any given day except Monday, Paris hosts huge, open-air food markets where farmers arrive to sell their fresh produce. It's a walkable cityParis is the most walkable city I've ever been in. I've heard three or four French people who have spent time in either the US or Canada and then moved back to France.
Persons: , Rick Jones, Ellen Bryson, who've, Ellen, I'd, Jones, It's, who's, Bryson, We'll, I've, don't, Macron Organizations: Service, Navy SEAL, Business, Left Bank, Association of American Residents Overseas, Paris, Vitesse, Global, Equality Locations: Buenos Aires, Norfolk, Virginia, San Diego, London, Persian, France, Paris, San Francisco, Marseille, Liberty, Canada
Mr. Trump has been a vocal supporter of Mr. Orban’s, and the meeting comes after a series of others by the Hungarian leader this month, including one with President Vladimir V. Putin of Russia, that caught many by surprise. Hungary took over the European Union’s rotating presidency at the start of July with the promise to “make Europe great again” — echoing the “Make America Great Again” slogan of Mr. Trump, whom Mr. Orban has endorsed for the U.S. presidency. Mr. Trump, who has a history of praising authoritarian leaders, often cites Mr. Orban’s support on the campaign trail. The two men met in March at Mar-a-Lago, Mr. Trump’s private club and residence in Florida, where Mr. Trump lauded Mr. Orban as a “boss” because he did not brook political dissent. presidency is largely a clerical position, Mr. Orban has engaged in a flurry of meetings with world leaders since taking over the position.
Persons: Viktor Orban, Donald J, Trump, Orban’s, Vladimir V, Putin, , Mr, Orban Organizations: Trump, NATO, U.S, Mr Locations: Hungary, Florida, Washington, Hungarian, Russia, Europe, Mar
CNN —If President Joe Biden is not the Democratic nominee coming out of the August party convention, it will have to be Vice President Kamala Harris. African Americans make up about 14% of the American population, yet in 2020 nearly 20% of Biden voters were Black, according to Pew Research Center. You think the ignominy of Harris campaigning for someone else is going to bring Black voters into the fold? The vice president is in the best position to receive Biden’s campaign funds, since her name is already listed on the campaign account. Are we prepared for our unvetted, untested Democratic nominee to flame out in the most important election of our lifetimes?
Persons: Bill Burton, Bryson Gillette, Obama, Joe Biden, Kamala Harris, Biden, Harris, Trump, isn’t Harris, , Gavin Newsom, Newsom, Sens, Cory Booker of, Raphael Warnock of, Wes Moore, SSRS, Harris —, Sen, John Edwards of, Ron DeSantis, Jeb Bush Organizations: Obama White House, CNN, Democratic, Biden, Pew Research, Trump, New York Times, Siena College, Black, Democratic Party, Maryland Gov, Florida Gov, Twitter, Facebook Locations: Pennsylvania, California, Washington, Cory Booker of New Jersey, Raphael Warnock of Georgia, John Edwards of North Carolina
BET Awards 2024: See who won
  + stars: | 2024-06-30 | by ( Dan Heching | ) edition.cnn.com   time to read: +5 min
CNN —The BET Awards kicked off on Sunday night with an electric performance by the one and only Megan Thee Stallion. The event, hosted by Taraji P. Henson, celebrates the best in Black entertainment, across music, film, television and sports. Nicki Minaj follows closely with six nods, including album of the ear for “Pink Friday 2,” best female hip-hop artist two best collaboration nominations, one with Lil Uzi Vert on “Everybody” and another for “Barbie World” with Ice Spice and Aqua. Will Smith, Lauryn Hill and Childish Gambino are among the scheduled performers.. ET on Sunday on BET and BET.com.
Persons: Megan Thee Stallion, Taraji P, Henson, Drake, , J, Cole, “ Rich, Daddy, Nicki Minaj, Lil Uzi, , Will Smith, Lauryn Hill, Childish Gambino, Usher, Chris Brown, Victoria Monét Michael, Mike Pink, Beyoncé Coco Jones, Muni, Brent Faiyaz Bryson Tiller, Chris Brown Drake, London Usher, Ty Dolla, Lil Wayne, FLO, Lil Durk, Cole “, Kendrick Lamar “, Megan Thee, Rich, Lola Brooke, Latto, Yung Miami, Uzi, Summer Walker, Savage, Daddy ”, Sexyy, Cardi, Gunna J, Cole Kendrick Lamar Lil Wayne, Cole “ Barbie, ” – Drake, ” – Usher, Monét, Boom Child, Cole Bennett Dave Meyers Janelle Monáe, Alan Ferguson, Tyler, 4Batz Ayra Starr, Dlow, BOBBY JONES, Shirley Caesar “, Kirk Franklin, Angel ”, Halle Bailey “, CeCe Winans, Erica Campbell, Naomi Raine, Chandler Moore, Jack Harlow “, Davido, Lojay, Aya Nakamura, Ayra Starr, Cleo Sol, Karol Conká, RAYE, Holly G, Seyi, Tasha Cobbs Leonard, Missy Elliott “ Hiss, Bob Marley, Beyoncé ”, Clarence ” “, Anthony Mackie Colman Domingo Damson Idris Denzel Washington Donald Glover Idris Elba Jeffrey Wright, Stanfield, Angela Bassett Ayo Edebiri Coco Jones Danielle Brooks Fantasia Halle Bailey Issa Rae Regina King YOUNGSTARS, Akira Akbar Blue Ivy Carter Demi Singleton, Diana Harris JaBria, Jalyn, Leah Jeffries Van Van, Wilson Angel Reese Coco Gauff Flau’jae Johnson Juju Watkins Naomi Osaka Sha’Carri Richardson Simone, Anthony Edwards Gervonta Davis Jalen Brunson, Irving LeBron James Patrick Mahomes Stephen Curry Organizations: CNN, BET, , Spice, Kanye, BEST, OF, BOBBY JONES BEST, Maverick City, ACT, BK ’ Locations: London, Texas, Africa, France, Brazil, Tyla, Jungeli, Makhadzi
At a news conference on Tuesday, Gov. Michelle Lujan Grisham of New Mexico emphasized how dangerous the wildfires had become in a short time. “We have two devastating, enormous fires,” she said. “When I say enormous, it means they are getting more and more complicated to address.”The expected combination of rain and wind on Wednesday was both good news and bad news, Laura McCarthy, a New Mexico State Forester, said at the same news conference. “It also means that this fire is going to be dynamic, at least until we see what rainfall amounts materialize,” she said, adding that the increasing winds might also put homes in danger.
Persons: Michelle Lujan Grisham, , , Laura McCarthy, New Mexico State Forester Organizations: New, New Mexico State Locations: New Mexico
There was a widely-held perception that the golfer was a highly-strung, uber-competitor, whose desire to win often grated on his rivals. DeChambeau called his bunker effort “possibly my best golf shot of my entire life.”DeChambeau 2:0 is the result of a “lot of personal growth,” according to the golfer. YouTube has really helped me accomplish some of that,” DeChambeau told reporters afterwards. It’s such an awesome, awesome platform for me to show who I truly am.”DeChambeau’s YouTube channel currently has over 700,000 subscribers. “All day,” DeChambeau told CNN’s Patrick Snell when asked whether he felt Jon’s presence with him during Sunday’s action.
Persons: Bryson DeChambeau, Rory McIlroy’s, DeChambeau, , I’ve, ” DeChambeau, CNN’s Patrick Snell, “ It’s, LIV, , ” Andrew Redington, I’m, Jon Organizations: CNN, LIV Golf, PGA, YouTube Locations: Pinehurst, North Carolina, Saudi
But Rory McIlroy did not win the 2024 U.S. Open. Bryson can win the U.S. Open with a par on 18. pic.twitter.com/lSk0ZzzZK2 — U.S. Open (@usopengolf) June 16, 2024He parred No. Rory McIlroy had a two-shot lead with five holes to play Sunday. Rory McIlroy choked. Rory McIlroy sped off out of the Pinehurst Resort parking lot early Sunday evening not just a man in heartbreak.
Persons: Bryson, Rory McIlroy’s, caddie, McIlroy strutted, Bryson DeChambeau, Rory McIlroy, McIlroy, DeChambeau, , gam, Mc, yar, dow, Lex, abi l, lea, e, liv, bec, Th, Pat, Gia, aga Organizations: Pinehurst, Lexus, U.S, Gulfstream, Sandhills, U.S ., acc, McI, awa, Yan, pla Locations: PINEHURST, N.C, , U.S, North Carolina, DeChambeau, hol
CNN —The best athletes break all sorts of new ground in pursuit of greatness, looking for that extra tiny percent that can propel them above their rivals. For Bryson DeChambeau that extra kick might be found in the most surprising of places – Epsom salt. After taking control of the US Open with a captivating third-round performance on Saturday, the American elaborated on his habit of salting his golf balls before playing, just another aspect of his analytical approach to the game which has earned him the nickname of “The Scientist.”“I put my golf balls in Epsom salt,” he told reporters. “Essentially we float golf balls in a solution to make sure the golf ball is not out of balance.”His manager, Connor, was in charge of salting the golf balls, DeChambeau explained, to find out “how much out of balance” they were. “There’s always going to be an error, especially when it’s a sphere and there’s dimples on the edges,” he added.
Persons: Bryson, , , Connor, DeChambeau, “ There’s, dimples, ” Bryson DeChambeau, Gregory Shamus, LIV, Rory McIlroy, Matthieu Pavon, Patrick Cantlay Organizations: CNN Locations: Epsom
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