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A scorching streak in Phoenix has set new daily records for 10 straight days during an October heat wave sweeping much of the West. The forecast calls for this streak of broken records to potentially reach up to 16 days in a row. The current record at a U.S. climate station for the number of consecutive daily record highs is 14 from Burlington, Iowa, recorded during the Dust Bowl in 1936. Dozens more October monthly record highs were set Thursday in states such as Kansas and Nebraska. The National Hurricane Center also continues to watch Hurricane Kirk and Tropical Storm Leslie in the open Atlantic, though neither pose any threat to land.
Persons: Hurricane Helene, Kirk, Tropical Storm Leslie Organizations: National Weather Service, NWS, Southwest, Rockies, National Hurricane Center, Daytona, West Palm Beach, Tropical, Hurricane Iota Locations: Phoenix, U.S, Burlington , Iowa, Kansas, Nebraska . California, Hanford, Stockton, Fresno, Plains, Midwest, Gulf, Mexico, Florida, Tampa, Sarasota, Naples, West Palm, Caribbean, Gulf of Mexico, Atlantic
The C919 is China’s first homegrown mainline passenger plane, manufactured by the Shanghai-based state-owned Commercial Aircraft Corporation of China (COMAC). Steven Jiang/CNNI was happy to hear the flight attendant highlight the aircraft type in his pre-takeoff briefing. “Today you’re flying with Air China C919 aircraft, which is the first large airliner independently developed by China,” he said, as the jet taxied to the runway. Air China serves hot meals in economy during meal hours even for short-haul flights (today’s flying time: 1 hour 40 minutes). As far as my passenger expectation goes, this C919 flight has earned a solid B in terms of safety and comfort.
Persons: Beijing CNN —, I’ve, Steven Jiang, CNN Long, , deplaning, don’t, COMAC Organizations: Beijing CNN, Boeing, Airbus, Air, Commercial Aircraft Corporation of China, China Eastern Airlines, CNN, International, Air China, Air China C919, China, Hongqiao Locations: Beijing, Air China, Shanghai, Europe, China, Southeast Asia, Africa
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJim Cramer hits the charts to see what's ahead for the 10-Year Treasury'Mad Money' host Jim Cramer takes a look at charting for the 10-Year Treasury as bonds soar on jobs report data.
Persons: Jim Cramer Organizations: Treasury
The oil tanker 'Devon' prepares to transfer crude oil from Kharg Island oil terminal to India in the Persian Gulf, Iran, on March 23, 2018. Oil prices could shoot up $20 per barrel if Iranian production sees a hit resulting from Israeli retaliation, according to Goldman Sachs. U.S. crude oil prices just saw a third consecutive session of gains after Iran launched a ballistic missile attack on Israel, heightening tensions in the region. If Israel hits Iran's oil industry, supply disruptions in the Strait of Hormuz could become of concern, other analysts echoed. This strategically significant waterway connects crude oil producers in the Middle East with major global markets.
Persons: Struyven, Daan Struyven, Goldman Sachs, CNBC's, Saul Kavonic, Joe Biden, Brent Organizations: U.S . Energy Information Administration, Oil, CNBC, White, bbl, USD150, Fitch Solutions, BMI Locations: Devon, India, Persian Gulf, Iran, Saudi Arabia, UAE, Israel, U.S, China, Hormuz, Strait, Oman, OPEC
London CNN —In late September, as Israel’s nearly year-long war widened and its credit rating was downgraded yet again, the country’s finance minister, Bezalel Smotrich, said that, while Israel’s economy was under strain, it was resilient. Israel’s economy could shrink even more than that, based on a worst-case estimate by the Institute for National Security Studies at Tel Aviv University. Before the October 7 attack and ensuing Israel-Hamas war, the International Monetary Fund forecast that Israel’s economy would grow by an enviable 3.4% this year. Smotrich, the finance minister, is confident that Israel’s economy will bounce back once the war ends, but economists are concerned the damage will far outlast the conflict. Florion Goga/ReutersOther sectors of Israel’s economy, while less important than tech, have been hit much harder.
Persons: London CNN —, Bezalel Smotrich, ” Smotrich, Hassan Nasrallah, ratcheting, Karnit, , Menahem Kahana, , “ Israel, , Smotrich —, Flug, Ahmad Gharabli, Fitch, , Coface, Avi Hasson, Hasson, Florion Goga, Yaron Liberman, ” Liberman Organizations: London CNN, CNN, West Bank, United Nations, BMI, Fitch Solutions, Institute for National Security, Tel Aviv University, International Monetary Fund, of Israel, Getty, Bank of Israel, Israel Democracy Institute, Institute for National Security Studies, Moody’s, Startup Nation Locations: Lebanon’s, Beirut, Israel, Lebanon, Gaza, Israel’s, Iran, AFP, Egypt, Syria, Golan, Jerusalem's Old City, United States, Tel Aviv, housebuilding . Tourism
Iran has launched a missile attack on Israel, the Israeli military said. The US has said it is ready to defend Israel from an Iranian attack, as it did in April. The Israeli Defense Forces said on Telegram that "a short while ago, missiles were launched from Iran towards the State of Israel." Related storiesEarlier on Tuesday, a White House official said the US had indications that Iran was preparing to "imminently" launch a ballistic missile attack against Israel. A direct military attack from Iran against Israel will carry severe consequences for Iran," the official said.
Persons: , Israel, Hassan Nasrallah, Ismail Haniyeh, Benjamin Netanyahu Organizations: Service, Israeli Defense Forces, State, White, Israel, US, Washington, United Nations Locations: Iran, Israel, Lebanon, Jerusalem, Beirut, Tehran
Consumers who heat with electricity will be hit the hardest, with their costs projected to rise 13.6% to $1,208 for the winter season, the association found. The expense of maintaining and upgrading the electric grid is driving up costs, particularly in the West, where fires have ravaged the grid and electric heating costs could soar nearly 23%. The price tag for heating with propane will rise 7.3% to $1,442 this winter, while natural gas users will see a 7.2% increase to $644. Natural gas prices have stabilized but are expected to rise over the winter as US exports increase, said Mark Wolfe, the association’s executive director. But those who heat with oil will catch somewhat of a break after a pricey heating season last year, with costs expected to rise only 6.1% to $1,963 this winter.
Persons: Mark Wolfe, Wolfe, , Organizations: CNN, Northeast, National Energy Assistance, Association, Consumers, Low Income, Energy Assistance Locations: Midwest
And bitcoin IRAs overall may not be the best way to get exposure to digital assets into your retirement portfolio, he adds. Read on for more on the pros and cons of bitcoin IRAs, and which investors they may make sense for. Self-directed bitcoin IRAs offer many of the same tax benefits as regular IRAs, like tax-deferred growth in traditional IRAs and tax-free withdrawals from Roth IRAs. Supports IRA rollovers, traditional IRAs, Roth IRAs, SEP IRAs, and 401(k)sCheck mark icon A check mark. Supports IRA rollovers, traditional IRAs, Roth IRAs, SEP IRAs, and 401(k)sCheck mark icon A check mark.
Persons: Bitcoin, Rollovers, Roth, bitcoin IRAs, Chris Chen, Read, Chen, Roth IRAs, they've, bitcoin, it's, Bitcoin IRAs Organizations: BitcoinIRA, Insight Financial, IRA, Better, Pew Research, SEC, CFTC Locations: cryptocurrency, U.S, bitcoin
Iran, Israel, and other neighboring nations closed their airspaces, forcing flight diversions. Some Lufthansa flights returned to Frankfurt several hours into their journeys to India and Dubai. AdvertisementFlightRadar24 shows Swiss and Lufthansa flights diverting amid Iran attacks on Israel on Tuesday. Several other carriers were also being forced to divert as route options remained limited between Europe, the Middle East, and Asia. AdvertisementAirlines like Japan Airlines, British Airways, and Finnair added up to four hours of flight time to avoid the Kremlin's airspace on flights between Asia and Europe amid Russian airspace closures and sanctions.
Persons: , FlightRadar24, Finnair Organizations: Lufthansa, Service, German, Swiss, Emirates, British Airways, Royal Jordanian Airlines, El, Business, Airlines, Japan Airlines Locations: Iran, Israel, Frankfurt, India, Dubai, Jordan, Iraq, Europe, Zurich, Antalya, Turkey, Asia, London, Paris, Amman, Israeli, Rhodes, Greece, Tel Aviv, Larnaca, Cyprus, East, Russia, Ukraine
CNN —Britain’s last coal-fired power plant will close on Monday, ending 142 years of coal-generated electricity in the nation that sparked the Industrial Revolution. The Ratcliffe-on-Soar station in central England is to finish its final shift at midnight, after more than half a century of turning coal into power. The UK government hailed the closure as a milestone in efforts to generate all of Britain’s energy from renewable sources by 2030. We owe generations a debt of gratitude as a country.”An aerial view of the Ratcliffe-on-Soar Power Station emitting steam on January 10, 2024 in Nottingham, England. An archive image dated to 1964 of Ratcliffe-on-Soar Power Station under construction.
Persons: CNN —, Ratcliffe, Uniper, Michael Shanks, Christopher Furlong, , Thomas Edison’s, Dhara Vyas, ” Vyas Organizations: CNN, Britain, Energy, Thomas Edison’s Edison, National Grid Locations: Soar, England, Sweden, Belgium, Nottingham, London, Uniper
Rio Negro in Manaus in Amazonas state Brazil on September 12, 2021. Copernicus, Sentinel-2 satellite Rio Negro on September 16 2024. Copernicus, Sentinel-2 satellite Satellite images of the Rio Negro on September 12 2021 versus September 16 2024 Copernicus, Sentinel-2 satellitePart of the Rio Negro in Manaus on June 19, 2024. So too is the Solimões River, whose muddy-colored waters converge with the Rio Negro at Manaus to form the Amazon River. Copernicus, Sentinel-2 satellite Copernicus, Sentinel-2 satellite Satellite images of Lake Tefé on August 26 2023 versus August 25 2024 Copernicus, Sentinel-2 satelliteResearcher Miriam Marmontel, from Mamirauá Institute for Sustainable Development, after finding a dead dolphin on Lake Tefé on September 18, 2024.
Persons: It’s, , Copernicus, Edmar Barros, Lincoln Alves, Jorge Silva, , Alves, ” Miriam Marmontel, Miriam Marmontel, Leonardo Benassatto, Romulo Batista, Adriana Cuartas, André Guimarães, El, El Niño, Cemaden’s, ” Guimarães, , ” Cuartas Organizations: CNN, Amazon, Rio, — Rio, Sentinel, Rio Negro, National Institute for Space Research, Reuters, Mamirauá Institute, Sustainable Development, Greenpeace, Amazon Environmental Research Institute Locations: Brazil, Rio, Manaus, Amazonas, Rio Negro, — Rio Negro, Tabatinga, Brazilian, Colombia, Peru, Tefé, Copernicus, Greenpeace Brazil,
Chin-Hong said the variant is a so-called recombinant of two other strains — KS.1.1 and KP.3.3 — meaning that genetic information was exchanged between them to form a third strain, XEC, Chin-Hong said. Is the XEC variant more contagious? Chan School of Public Health, said there’s no evidence yet that the XEC variant is much more transmissible than what’s currently circulating. The variant is closely related to KP.2, the strain targeted by the updated vaccines from Pfizer and Moderna. Bright, however, cautioned that clinical data is ultimately needed to determine how well the updated vaccines work against the XEC variant.
Persons: , , Peter Chin, ” XEC, we’re, Rick Bright, Hong, Bill Hanage, ” Hanage, It’s, XEC, Hanage, “ It’s, Marc Johnson, Johnson, There’s, ” Chin, ” Johnson, ” Bright Organizations: Centers for Disease Control, Prevention, University of California, Biomedical, Research, Development Authority, Department of Health, Human Services, CDC, Harvard, of Public Health, University of Missouri School of Medicine, Pfizer, Moderna Locations: United States, San Francisco, Europe, Chin, U.S, Chan, Germany, Netherlands, France
Nvidia could rocket another 545% by the end of the decade, Phil Panaro predicted. AdvertisementNvidia is headed for a meteoric run-up by the end of the decade, according to one former consulting exec. "Not to sound overconfident — it's actually inevitable provided that they can continue to make these chips," he later added of the firm's upside potential. Some strategists have been skeptical over Nvidia's rally, with the stock up a monster 2,733% over the last five years. "That's actually the best case for why it's actually going to go up.
Persons: Phil Panaro, Blackwell, , Phil Panaro —, Jensen Huang, Panaro, Goldman Sachs, Morgan Stanley, — it's, That's, it's, haven't Organizations: Nvidia, Service, Boston Consulting Group, Goldman, Citigroup, Schwab Network, Blackwell, Big Tech, Fortune, Analysts, Nasdaq Locations: Web2
Massive stimulus from central banks in the U.S., China and elsewhere is driving bubble-like stock returns and could head off a global recession, according to Bank of America. "It's the bubble dream," BofA chief investment strategist Michael Hartnett wrote in his weekly "Flow Show" breakdown of where investors are putting their money. "Fed slashing, oil crashing, China inflating ... and if this China stimulus don't work then geopolitical risks [are] going to soar." But while some indicators do point to a slowing in global growth, the abundant forecasts for recession have eased. "Fed cutting into recession is negative for risk assets, but Fed cutting with no recession is positive and investors firmly of view Fed + China is sufficient policy easing to short-circuit recession risk," Hartnett wrote.
Persons: Michael Hartnett, Hartnett Organizations: Bank of America, Federal Reserve, People's Bank of China, Investors Locations: U.S, China
Stocks in China rose in response, with the CSI 300 Index climbing 4.3% Tuesday, its best day since July 2020. But whether or not the latest policy steps succeed, CNBC Pro screened for China stocks that analysts praise regardless of the pace of economic growth at home. About three quarters of analysts covering PDD rate it a buy, and the stock could climb roughly 43% based on analysts' consensus price target. On Tuesday, after the announcement of the latest policies to revive the flagging China economy, PDD shares in the U.S. jumped more than 11%. Other names on the list of favored China stocks included online learning and tutoring provider TAL Education Group and digital shipping platform Full Truck Alliance .
Persons: Hong, Morgan Stanley, Terence Flynn, Flynn, CoreValues, Ben Harburg, CNBC's, Harburg, Biden Organizations: People's Bank of China, CSI, CNBC Pro, China ETF, Therapeutics, YE25, U.S, TAL Education Group, Alliance Locations: China, Ph3, U.S
Hedge fund manager Eric Jackson believes an 'everything rally' can take hold in the stock market. Interest rate cuts, economic growth, and yield curve changes favor risk assets, according to Jackson. AdvertisementThe stock market's relentless rise higher could turn into an "everything rally," according to hedge fund manager Eric Jackson of EMJ Capital. AdvertisementHe added: "And when that happened, there was a stock market rally which lasted 10 months. The yield curve finally went positive earlier this month.
Persons: Eric Jackson, Jackson, , we've Organizations: Service, EMJ, CNBC, Nasdaq, Treasury Locations: Jackson
China's new stimulus measures helped boost Bernard Arnault's net worth by $6.2 billion in a day. LVMH shares surged 4% on the news. Bernard Arnault, the chairman of LVMH, saw his net worth soar $6.2 billion on Tuesday, according to data from Bloomberg, as shares of the luxury goods maker surged 4%. At one point in March, Arnault was the richest person in the world, but since the start of the year, he slipped in the net worth rankings as LVMH stock struggled and a huge mega-cap tech rally boosted the net worth of tech CEOs. AdvertisementArnault's net worth now stands at $183 billion, just ahead of Oracle cofounder Larry Ellison's $179 billion and behind the $200+ billion fortunes of Mark Zuckerberg, Jeff Bezos, and Elon Musk.
Persons: Bernard Arnault's, , Bernard Arnault, Arnault, Louis Vuitton, LVMH, Pan Gongsheng, Larry Ellison's, Mark Zuckerberg, Jeff Bezos, Elon Musk Organizations: Consumers, Service, Bloomberg, Dior, Tiffany, TAG Heuer, People's Bank of China, Oracle Locations: China
September is a historically weak month for stocks, but the first U.S. Federal Reserve rate cut in four years meant that markets have mostly bucked the trend so far. The S & P 500 has risen around 1% month-to-date, and jumped about 8% since the end of June when stocks went through much volatility. But risks such as the U.S. election, inflation and geopolitical conditions raise the question of what the path ahead will be like for stocks. "In my view, the banking sector could win ... as should solid growth stocks – at reasonable valuations – in the healthcare and software sectors," he added. Valuations in the U.S. market look "less demanding" — if you exclude Big Tech, mega-growth stocks, which are dragging up the overall price-to-earnings multiple of the S & P 500, Webber added.
Persons: David Bianco, Simon Webber, Schroders, Webber Organizations: U.S . Federal, Equity, Big Tech, CNBC Pro Locations: DWS, U.S
Nvidia is the latest poster child on Wall Street for "10 baggers," stocks that soar in price 10 times. But the AI chipmaker's path to " 10-bagger " status included what is also a typical slump (or two) along the way, according to Trivariate Research. To find the 84 stocks, Parker looked for names with market capitalizations over $2 billion and average daily trading volume of at least $30 million. He then screened for stocks that achieved 10-bagger status, and further culled the list to only those that accomplished the feat in the past 25 years. The chart below contains the names that achieved 10-bagger status most recently, along with information on their drawdowns.
Persons: Morgan Stanley, Adam Parker, Parker, Trivariate, they've, Jensen Huang, Tesla Organizations: Nvidia, Research
CNN —Investigators are trying to determine what motivated a Kentucky sheriff to allegedly shoot and kill a district judge after the two had an argument inside the judge’s chambers, according to Kentucky State Police. Letcher County, Kentucky District Judge Kevin R. Mullins Letcher County governmentLetcher County Sheriff Shawn M. Stines, 43, shot Mullins after an argument inside the judge’s chambers, a preliminary investigation revealed. It is unclear who will take over as the county sheriff following the arrest of Stines, who had been sheriff for about eight years. An ambulance near the scene after a district court judge in Kentucky was fatally shot in his chambers , on Thursday, September 19. The Kentucky Court of Justice is aware of the “tragic” incident in Letcher County, the court said in a statement on Facebook.
Persons: Kevin Mullins, Matt Gayheart, Kevin R, Mullins, Shawn M, Stines, Gayheart, ” Gayheart, “ We’re, Russell Countydeputy, Andy Beshear, Stines Mullins, Steve Beshear, ” Stines, , General Russell Coleman, Jackie Steele, ” Coleman, Clayton Stamper, Laurance, VanMeter, , Mullins ’, ” VanMeter, Matt Butler, recusing, Butler, Judge Mullins, ” Butler, Ivy, Allison Ball, ” Ball Organizations: CNN —, Kentucky State Police, District, CNN, Kentucky’s, Gov, Associated Press, WKYT, AP, Kentucky, Judicial, KSP, Facebook, Southeast Kentucky Community, Technical College, Associated Press . Locations: Kentucky, Letcher, Whitesburg , Kentucky, Letcher County , Kentucky, Mullins Letcher, Letcher County, Laurel County, Jackhorn, Eastern, Central Kentucky, SOAR, Associated Press . Kentucky
U.S. crude oil rose nearly 1% on Thursday, one day after the Federal Reserve slashed interest rates for the first time in more than four years and as tensions in the Middle East continued to escalate. The Fed surprised the market on Wednesday with a bigger-than-expected cut of a half percentage point. Oil prices, however, closed slightly lower as rate cuts had largely already been priced in. Here are Thursday's energy prices:Crude futures are on the rebound again as tensions soar between Israel and the Iranian-backed militia group Hezbollah in Lebanon. Oil market analysts have warned for months that an all-out war between Israel and Hezbollah, which until now have traded rocket fire, could force OPEC member Iran to directly intervene, raising the risk of disruptions to Middle East crude oil supplies.
Persons: Israel, Yoav Gallant Organizations: Federal Reserve, Fed, NBC News, Israeli Locations: Israel, Lebanon, Lebanon . U.S, Gaza, Iran
Washington CNN —Sales of previously owned homes in the United States fell sharply in August, despite mortgage rates plummeting that month. Lower borrowing costs will likely entice buyersMortgage rates could very well come down even more, but that would depend on economic data making it clear that the Fed would cut rates further. The Fed doesn’t control mortgage rates, but its action do influence them through movements in bond yields. Mortgage rates track the 10-year US Treasury yield, which moves in anticipation of the Fed’s decision on rates. Yun told reporters it could take three or four months for lower mortgage rates to boost demand for housing.
Persons: ” Yun, , Daniele Hale, , we’re, Freddie Mac, Yun, ‘ I’m Organizations: Washington CNN —, Federal Reserve, National Association of Realtors, Fed, Treasury Locations: United States
Hanna, based in Washington State, told Business Insider that when she got the "god-inspired" urge to start sprinting, she turned to her husband for help. By 2011, Hanna was fast enough to compete in the Washington State Senior Games, a sports competition for people over 50. The next year, she competed at the National Senior Games, which she has done three more times since. Hanna and her coach, Marcus Chambers, after she won gold at the 2024 Senior Games. Hanna won gold in the four by 100 metres with her relay team at this year's National Senior Games.
Persons: , Madonna Hanna, Hanna, hasn't, Marcus Chambers, it's, you've, Nathan K, Robert, Arlene Kogod, Bryan Goldberg, Mike Molloy Organizations: Service, Business, Washington State Senior Games, National Senior Games, Washington State, British, of Sports Medicine, Aging, Mayo Clinic, Senior Games Locations: Washington State
How long the strike lasts will determine how serious the problems are for Boeing. Boeing has a long way back to profitability, no matter how long the strike lasts. So as bad as the strike might be for Boeing, it has plenty of other problems to deal with. So even with financial problems that might kill another company, Boeing isn’t going anywhere. The strike could last a whileNegotiations between Boeing, the union and federal mediators are expected to resume early this week.
Persons: Brian West, Boeing’s, Fitch, Moody’s, Poor’s, Richard Aboulafia, ” Aboulafia, ” Jim Bloomer, Max, , you’ve, Organizations: New, New York CNN, Boeing, Federal Aviation Administration, Airbus, CNN Locations: New York, Washington, Renton , Washington
Here are 19 stocks that will do best if Republicans sweep, and 19 others to buy if Democrats win. Go to newsletter preferences Thanks for signing up! Either Donald Trump will take back the Oval Office, or Vice President Kamala Harris will get the promotion of a lifetime. Throughout 2024, Business Insider has rounded up ideas about the intersection of the election and markets from firms like Bernstein, Goldman Sachs, and Barclays, plus investing legends like Steve Eisman. This story is available exclusively to Business Insider subscribers.
Persons: Donald Trump, Kamala Harris, , Bernstein, Goldman Sachs, Steve Eisman Organizations: Service, Republican, Democratic, Barclays, Business
Total: 25