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☆ A stock market correction is coming as rates, inflation, and valuations darken the outlook for investors, strategist says
▼ + stars: | 2024-06-19 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

AdvertisementThe stock market is in for a correction, as a trio of unfavorable factors will weigh on equity prices, according to Sam Stovall, chief investment strategist of CFRA Research. Tech stocks, which have dominated the market in recent years, are trading at a 68% premium. Stocks could see their first "crack in the ice" in the tech sector, he added, pointing to lofty valuations among mega-cap tech stocks. AdvertisementOther forecasters have warned of limited upside to the market as stocks — particularly tech stocks — continue to climb higher. According to one valuation metric, the stock market looks to be the most overvalued since 1929, which could pave the way to a steep correction, elite investor John Hussman warned.

Persons: Sam Stovall, —, Stovall, Stocks, John Hussman Organizations: Service, CFRA Research, Wall, Treasury, Tech, CNBC

☆ Age Is on the Ballot in 2024, at Least in North Dakota
▼ + stars: | 2024-06-11 | by ( Ernesto Londoño | ) www.nytimes.com time to read: +1 min

On Tuesday, voters in North Dakota will weigh in. Granted, the ballot measure on age limits for politicians that North Dakotans will consider takes the temperature of voters in a single state — and one of the nation’s least populous states at that, with some 779,000 residents. And, technically, this proposed age limit only pertains to North Dakota candidates for Congress, not the presidency or any other office. Still, amid all the chatter about age in 2024, this ballot measure provides a rare chance to learn what at least one set of voters in the nation’s middle thinks about older elected officials. “I think it’s very possible that if we pull this off here, other states will follow.”

Persons: ”, Jared Hendrix, “ Organizations: Congress, Republican Locations: North Dakota, North, Fargo

☆ NICE CMO Einat Weiss on How Marketers Use AI to Make Faster Decisions
▼ + stars: | 2024-06-11 | by ( Julia Hood | Will Wei | ) www.businessinsider.com time to read: 1 min

Einat Weiss has been the CMO of NICE for the last four years, and she started her career on the tech and product side. So, she has a firm understanding of how the marketing space can utilize an emerging technology like AI. "One of the things that we see now that is becoming better and better is the ability to use AI to understand consumer intent," Weiss tells Business Insider. "This helps us as marketeers to have a much more outside-in view when we plan campaigns, when we think about messaging, when we think about what would resonate — this really helps to create it correctly based on what customers are looking for versus sometimes what we want to market to them."

Persons: Einat Weiss, Weiss Organizations: NICE

☆ Here are Monday's biggest analyst calls: Nvidia, Tesla, Apple, Walmart, Microsoft, Disney, Arm, GM, DraftKings & more
▼ + stars: | 2024-06-10 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Morgan Stanley resumes Broadcom as overweight Morgan Stanley resumed coverage of Broadcom , saying it's "compelling." UBS reiterates Apple as neutral UBS said its survey checks show that interest in AI remains "muted" for Apple. Morgan Stanley names DraftKings a top pick Despite gaming tax issues in Illinois, Morgan Stanley moved the gaming stock back to top-pick status. Morgan Stanley downgrades Advanced Micro Devices to equal weight from overweight Morgan Stanley said investors' expectations are "too high." UBS reiterates Micron as buy UBS raised its price target on Micron to $155 per share from $125.

Persons: Truist, Morgan Stanley, TD Cowen, Bernstein, Tesla, underperform Bernstein, Elon Musk, Disney, DraftKings, Jefferies, Colleen, Wells, Raymond James, MHK, Rosenblatt, NVDA, Melius Organizations: Microsoft, New, Broadcom, UBS, Apple, Nvidia, Disney, North America Gaming, Jefferies, JPMorgan, Honeywell, Micron, Nike, ARM, Adobe, Citi, General Motors, Bank of America, Mobile Locations: Int'l Parks, Illinois, North

☆ A shortage of young men in the workforce could weigh on housing, Social Security, and growth for years to come
▼ + stars: | 2024-06-09 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +6 min

Read previewAmerica's job market is mysteriously short of young men. Zack Mabel, a research professor at Georgetown University, theorizes that falling labor force participation among young men could impact the economy for at least several decades. AdvertisementStraining the economyThe economy appears to already be feeling the decline in male workforce participation. Besides the years following the pandemic, US workforce participation rate hasn't been that low since the 70s, World Bank data shows. There's no clear answer for how to get young men back into the workforce.

Persons: —, Carol Graham, That's, Graham, They're, Zack Mabel, Mabel, Meredith Whitney, Whitney, they're Organizations: Service, Brookings Institute, Bureau of Labor Statistics, Business, Georgetown University, World Bank, Bank, Wall, Brookings, Government, Social Locations: Brookings

☆ Tough-on-crime former NYC judges say even they wouldn't sentence Trump to prison in the hush-money case
▼ + stars: | 2024-06-08 | by ( Laura Italiano | ) www.businessinsider.com time to read: +12 min

AdvertisementWill Merchan sentence Donald Trump to jail? Merchan will not sentence Trump to prison, the four agreed. Merchan could theoretically sentence Trump to as little as a single day in Rikers, said Kamins, now in private practice at Aidala, Bertuna & Kamins. But even in the unlikely event of a low-jail sentence, Trump's appeals would keep him at liberty for years, all four judges said. "I certainly don't know what the right decision is, or what Judge Merchan will do," Obus told BI.

Persons: —, Donald Trump, Will, Juan Merchan, Trump, blunts, Attorney Alvin Bragg, Bragg, Jane Rosenberg, Michael Obus, Barry Kamins, Charles Solomon, Solomon, Shannon Stapleton, Kamins, Richard Drew Appeals, — Obus, Trump's, Ted Cruz, Joshua Steinglass, Obus, I've, Ron Kuby, Kuby, Merchan, STEVEN HIRSCH, Judge Merchan, Susan Necheles, Stormy Daniels, Jane Rosenberg Merchan, Rehashing, he's Organizations: Service, Will New, Business, Attorney, REUTERS, New York, New, New York City, BI, Trump, Manhattan, Republicans, AP, National Enquirer, Getty Images, Harvard Business School, Reuters, Manhattan Criminal Locations: Rikers, Manhattan, New, New York, Brooklyn, , New York, New York's, Aidala, United States, Florida, Washington

☆ Hiking family discovers rare T. rex fossil
▼ + stars: | 2024-06-07 | by ( Jacopo Prisco | ) edition.cnn.com time to read: +7 min

Now, the museum has unveiled what it calls “Teen Rex,” a rare juvenile T. rex skeleton, one of only a handful in existence. We had cameras rolling while it was happening.”The dinosaur-discovering family returns to the site in July 2023 for the excavation, including (clockwise from upper left) Sam Fisher, Emalynn Fisher, Danielle Fisher, Liam Fisher, Kaiden Madsen and Jessin Fisher. A lower jaw of the T. rex skeleton is uncovered during the 11-day excavation. Courtesy Denver Museum of Nature and Science“That’s been a fiercely fought out debate, the Nanotyrannus versus Tyrannosaurus Rex,” Lyson said. “Tyrannosaurus isn’t common and juvenile dinosaurs are incredibly rare, so young T. rex are the rarest of the rare,” he said.

Persons: Liam Fisher, Sam Fisher, Jessin, Liam, Kaiden Madsen, hollered, Kaiden, ” Liam, “ Dad, ‘, Fisher, Tyler Lyson, “ Teen Rex, ”, Lyson, “, Emalynn Fisher, Danielle Fisher, Jessin Fisher, Hawk, Rex, That’s, Tyrannosaurus Rex, ” Lyson, It’s, Nick Longrich, Nanotyrannus, Longrich, I’ll Organizations: CNN, Denver Museum of Nature, Denver Museum of Nature &, Denver Museum of Nature & Science, University of Bath Locations: North Dakota, Denver, United Kingdom

☆ Netflix has a key advantage over Amazon in courting advertisers
▼ + stars: | 2024-06-03 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Read previewScale has been a big part of Amazon's pitch for ads in Prime Video. Amazon doesn't regularly release viewership data, and one commonly heard suspicion is that Prime Video hasn't had any huge, original hits of late. It measures Netflix, Prime Video, Max, and Disney+ in 20 countries across the US, Canada, Europe, Latin America, and Asia. Here are some other other findings from Digital i:Netflix and Prime Video have similar viewer demographics, with Prime skewing slightly older. Licensed content makes up about half of viewing across Netflix, Prime Video, and Disney+, with the rest coming from originals.

Persons: —, hasn't, Max skews Organizations: Service, Amazon, Business, Netflix, Disney Locations: Canada, Europe, Latin America, Asia

☆ Trump and his allies braced for a guilty verdict. Then the bombshell arrived
▼ + stars: | 2024-06-01 | by ( Steve Contorno | ) edition.cnn.com time to read: +7 min

CNN —The next time former President Donald Trump holds a campaign rally will be his first as a convicted felon. The 34-count guilty verdict reached Thursday by a Manhattan jury – the first criminal conviction of a former president – landed like a bomb on the American political landscape. Trump’s campaign had long braced for this outcome, readying their candidate and his supporters for an unfavorable conclusion by casting the case as a political spectacle. But now that a verdict has arrived, uncertainty lurks behind every decision. Trump and his lawyer, Todd Blanche, have indicated they will appeal, a process that could outlast the campaign itself.

Persons: Donald Trump, –, Joe Biden, Trump, Juan Merchan, Michael Cohen, ” Trump, Biden, Todd Blanche, Merchan, Ron DeSantis, Nikki Haley, ”, Jim Jordan, Attorney Alvin Bragg, Matthew Colangelo, Marco Rubio, JD Vance, Ohio –, Vance, “, subpoenaing Merchan, ” Vance, Larry Hogan, Chris LaCivita, ” LaCivita, ” CNN’s Kristen Holmes Organizations: CNN, Trump Tower, Trump, Republican, White, Florida Gov, South Carolina Gov, Libertarian, Ohio, Attorney, Fox News, Democratic, Republican Senate, College Republicans, Committee Locations: Manhattan, York, Bedminster , New Jersey, Coast, California, Nevada, Milwaukee, New York, Trump’s, Georgia, Throughout Washington, Marco Rubio of Florida, Maryland

☆ Federal appeals court rejects Hunter Biden’s latest bid to pause gun trial
▼ + stars: | 2024-05-21 | by ( Marshall Cohen | ) edition.cnn.com time to read: +3 min

CNN —A federal appeals court on Tuesday rejected the latest attempt by Hunter Biden to pause his upcoming gun trial while the president’s son pursues some long-shot appeals. The quick decision came from the same three-judge panel that previously rejected one of Hunter Biden’s attempts to throw out the indictment. This is one of several bids by Hunter Biden to slow down or postpone his gun trial. Hunter Biden testified at a court hearing last year that he has been sober since 2019. That trial is scheduled for late June, a few weeks after the gun case is expected to wrap up.

Persons: Hunter Biden, Hunter Biden’s, Joe Biden, hasn’t, David Weiss, he’s, Weiss, Hunter, Beau Biden, Prosecutors, Weiss ’, Hallie Biden, Biden’s, Beau, Hallie Biden’s, ” Weiss ’, Stuart Goldberg Organizations: CNN, Republican, Democratic, Justice Department, Justice Locations: Delaware, California, Los Angeles

☆ Why America Still Can't Get Rid of High Prices, Inflation
▼ + stars: | 2024-05-13 | by ( Neil Dutta | ) www.businessinsider.com time to read: +9 min

Typically, price increases are a slow-moving process, so it is rare to see core inflation accelerate this much this quickly. The Survey of Professional Forecasters has found longer-run expectations for inflation have leveled out at 2% — the Fed's target. These one-offs have had an outsize impact on the overall inflation picture. Ahead of 2024, the contribution from acyclical components to core inflation was essentially zero. The strong growth in private demand suggests that second-quarter GDP could be even more robust.

Persons: I've Organizations: America, Federal Reserve, PCE, Atlanta Fed Locations: Real

☆ Stock market today: futures slip ahead of Amazon earnings and a key Fed update
▼ + stars: | 2024-04-30 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +2 min

US stock futures retreated on Tuesday as Wall Street awaited key earnings reports and a Fed update. AdvertisementStocks drifted lower in premarket trading on Tuesday as investors held their breath for marquee earnings reports and a critical update from the Federal Reserve. "If that's the case, we could see a further meltdown in Fed rate cut expectations. The next stop is no rate cut in 2024, which would be a cold shower for the bulls," she added. "If the Fed expectations turn undesirably hawkish, we could see the equity rally stall," Ozkardeskaya said.

Persons: Eli Lilly, McDonald's, —, Jerome Powell, Ipek Ozkardeskaya, it's, undesirably, Ozkardeskaya Organizations: Starbucks, Service, Federal Reserve, Dow Jones Industrial, Nasdaq, Treasury, Swissquote Bank

☆ History says this market downturn is just getting started. A veteran strategy chief shares 18 stocks to buy to hedge against risk and gain upside during the recovery.
▼ + stars: | 2024-04-28 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

There have been 13 other market selloffs during the second year of a bull market since 1946, Belski noted. AdvertisementFollowing its 2021 pullback, the S&P 500 finished the second year of its bull market up 22.6% and 11.5% higher than its nadir. Valuations are still historically high, and mega-cap growth companies continue to make up a disproportionately large share of the S&P 500. Since Belski thinks this bull market has legs, he doesn't want to forgo future upside. These firms have higher earnings growth than the median S&P 500 name and also have lower price-to-earnings (P/E) and P/E-to-growth (PEG) ratios — a recipe for success.

Persons: —, pales, Keith Lerner, Truist, Lerner, who've, Brian Belski, he's, Belski, selloffs Organizations: Service, Business, BMO Capital Markets, selloffs

☆ The AI-fueled stock market bubble will crash in 2026, research firm says
▼ + stars: | 2024-04-27 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The AI-fueled stock market bubble will burst in 2026, according to Capital Economics. The research firm said rising interest rates and higher inflation will weigh down equity valuations. AdvertisementAn artificial intelligence-fueled stock market bubble will burst in 2026, according to Capital Economics. The research firm has said that a stock market bubble, driven by investor excitement towards artificial intelligence, would drive the S&P 500 to as high as 6,500 by 2025, led by technology stocks. The expected bursting of the stock market bubble should lead to a decade of investment returns that favor bonds over stocks.

Persons: —, Diana Iovanel, James Reilly, Iovanel, Reilly Organizations: Capital Economics, Service, Capital, US

It's unclear when the Supreme Court will release its decision on Trump's claims. Trump's trial was supposed to have begun last month, but depending on how the Supreme Court rules in this case, it could be delayed past the election. As of now, Trump's Manhattan hush-money trial is his only criminal trial to have started. Trump could not attend oral arguments at the Supreme Court due to the New York trial, in which he stands charged with 34 counts of business fraud related to hush-money payments made to porn star Stormy Daniels. Their ruling could have sweeping effects on the future of the presidency, particularly if they accept some of Trump's argument that a Nixon-era Supreme Court decision on civil immunity applies to criminal charges as well.

Persons: —, Donald Trump, Sonia Sotomayor, D, John Sauer, Sauer, Saur, Sotomayor interjected, he's, Sotomayer, Jack Smith, Trump, Stormy Daniels, Smith, Nixon, Joe Biden Organizations: Service, Business, Trump Locations: Manhattan, York

☆ Opinion: Trump’s refusal to follow gag order could cost him
▼ + stars: | 2024-04-23 | by ( Opinion Norman Eisen | ) edition.cnn.com time to read: +5 min

Norm Eisen Courtesy Norm EisenTuesday morning, however, will be something I have never seen before in my three decades of criminal law practice. Seven of the 10 came after Trump was put on notice of the gag order hearing and were rolled into it. As the Court found in issuing the gag order, Trump’s history of attacking his perceived foes presents a serious threat to the safety of witnesses and jurors (among others) and thus to the integrity of the trial. Moreover, the comments at issue concern the trial and are not in regard to Trump’s presidential campaign – at all. The judge may split the baby and order sanctions for some but not all of Trump’s statements.

Persons: Norman Eisen, “, Trump, Donald Trump’s, Norm Eisen, Juan Merchan, Attorney Alvin Bragg, Daniels, Michael Cohen, Merchan, they’re, Emil Bove, Cohen “, Mr, Cohen, ” Organizations: CNN, Trump, Attorney, TRUMP Locations: York

☆ An Unprecedented Trial Opens With Two Visions of Trump
▼ + stars: | 2024-04-22 | by ( Jonah E. Bromwich | Ben Protess | ) www.nytimes.com time to read: +1 min

Manhattan prosecutors delivered a raw recounting of Donald J. Trump’s seamy past on Monday as they debuted their case against him to jurors, the nation and the world, reducing the former president to a co-conspirator in a plot to cover up three sex scandals that threatened his 2016 election win. Their opening statement was a pivotal moment in the first prosecution of an American president, a sweeping synopsis of the case against Mr. Trump, who watched from the defense table, occasionally shaking his head. Moments later, Mr. Trump’s lawyer delivered his own opening, beginning with the simple claim that “President Trump is innocent,” then noting that he is once again the presumptive Republican nominee and concluding with an exhortation for jurors to “use your common sense.”The jury of 12 New Yorkers who will weigh Mr. Trump’s legal fate before millions of voters decide his political future also heard brief testimony from the prosecution’s leadoff witness, David Pecker, a former tabloid publisher who was close with Mr. Trump. Mr. Pecker, who ran The National Enquirer, testified that his supermarket tabloids practiced “checkbook journalism.” In this case, prosecutors say, he bought and buried stories that could have imperiled Mr. Trump’s 2016 campaign.

Persons: Donald J, Trump’s, Trump, ”, Yorkers, David Pecker, Pecker Organizations: Republican, Mr, National Enquirer

☆ Higher deposit costs will weigh on the big banks, says Stephen Biggar
▼ + stars: | 2024-04-16 | 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 EmailHigher deposit costs will weigh on the big banks, says Stephen BiggarStephen Biggar, Director of Financial Institutions Research at Argus Research, discusses earnings from Bank of America and Morgan Stanley.

Persons: Stephen Biggar Stephen Biggar, Morgan Stanley Organizations: Financial, Research, Argus Research, Bank of America

☆ Stocks making the biggest moves midday: UnitedHealth, SolarEdge, Bank of America, Tesla and more
▼ + stars: | 2024-04-16 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

UnitedHealth posted better-than-expected first-quarter revenue and reaffirmed its full-year earnings forecast of $27.50 to $28 per share excluding items. Johnson & Johnson — The drugmaker slipped 2% despite beating first-quarter profit estimates and reporting in-line revenue. Johnson & Johnson adjusted its full-year sales forecast for 2024 to a range of $88 billion to $88.4 billion compared to a previous forecast of $87.8 billion to $88.6 billion. The firm also surpassed analysts' earnings and revenue estimates. Bank of America — Charlotte-based Bank of America fell 3.5% after quarterly profit tumbled 18% to $6.67 billion , or 76 cents a share.

Persons: UnitedHealth, Johnson, Morgan Stanley —, Tesla, —, Sarah Min, Tanaya Macheel Organizations: Dow Jones, FactSet, Johnson, Technologies, Barclays, Live, Entertainment, Journal, U.S . Department of Justice, Bank of America, of America, Revenue

☆ Office Apocalypse, New Expenses Are Wrecking Big Cities' Budgets
▼ + stars: | 2024-04-14 | by ( Emily Stewart | ) www.businessinsider.com time to read: +9 min

Across the country, from Denver and Seattle to Washington, DC, and New York, cities are deciphering whether to slash their budgets. (Most states' fiscal years run from July 1 to June 30.) States and cities are facing pressure from societal issues that will weigh on tax revenue and increase costs for years to come. Aging populations mean a smaller percentage of the population that's of working age, putting downward pressure on tax revenue. But as federal funds have petered out, structural problems have resurfaced.

Persons: Justin Marlowe, Lucy Dadayan, Carol O'Cleireacain, it's, Marlowe, O'Cleireacain, Josh Goodman, Goodman, Liz Farmer, Baltimore's Francis Scott Key, Farmer, Emily Stewart Organizations: Boston, University of Chicago Harris School of Public Policy, Municipal Finance, Pew, Urban, Brookings Tax, Urban Institute, Business Locations: Denver, Seattle, Washington, New York, California , Maryland, Arizona, New York City, New York , New Jersey, Detroit, COVID, States, Maryland, United States

☆ Manhattan DA and Trump's hush-money defense intensify war over his attacks on judge's daughter
▼ + stars: | 2024-04-01 | by ( Laura Italiano | ) www.businessinsider.com time to read: +5 min

The defense, meanwhile, accused the judge's daughter of having a financial stake in the case. AdvertisementDonald Trump's defense lawyers and his Manhattan hush-money prosecutors intensified their war over his gag order on Monday, with prosecutors calling the GOP frontrunner's ongoing attacks on the judge's daughter "reprehensible" and "dangerous." In seeking to expand the gag order, prosecutors are trying "to further restrict President Trump's constitutionally protected speech," the defense wrote. Merchan has yet to say if he will weigh revising or clarifying the gag order. The judge's daughter did not immediately return a request for comment.

Persons: Manhattan's DA, —, Donald Trump's, Trump, Attorney Alvin Bragg, Juan Merchan, Loren Merchan, Joe Biden, Kamala Harris, Matthew Colangelo, Susan Necheles, Todd Blanche, Trump's, Merchan Organizations: Service, GOP, Manhattan, Attorney, New, Trump, District, Authentic, Inc, Trump's Locations: Chicago

☆ Sam Bankman-Fried faces sentencing this week. Here’s what to expect
▼ + stars: | 2024-03-27 | by ( Allison Morrow | ) edition.cnn.com time to read: +7 min

Sentencing is a much more fluid process, with both sides allowed to make sweeping arguments to try to make their case to the judge. But instead, his life in recent years has been one of unmatched greed and hubris; of ambition and rationalization; and courting risk and gambling repeatedly with other people’s money,” prosecutors wrote in a memo. In a letter to the court, Marc Mukasey, the lawyer Bankman-Fried retained for sentencing, called the government’s memo “disturbing” and accused the government of trying to “break” Bankman-Fried. His behavior may come back to haunt Bankman-Fried in sentencing, Fischer said. But legal experts say that even if 100% of FTX customers get their money back, it’s not necessarily going to sway the judge to go easy on Bankman-Fried.

Persons: Sam Bankman, Judge Lewis Kaplan, ”, Kaplan, Howard Fischer, Moses Singer, Prosecutors, Fried, Marc Mukasey, Bankman, ” Mukasey, “, Sam, ’, Caroline Ellison, Fischer, ” Ellison, Bernie Madoff, it’s, ’ ”, John Ray, ” Ray Organizations: New, New York CNN, Southern, of, Prosecutors, Bankman, MIT, Detention, ” Prosecutors, Alameda Research Locations: New York, Manhattan, of New York, Palo Alto , California, Brooklyn, Bankman, FTX, Alameda

☆ Sam Bankman-Fried considered going on Tucker Carlson's show and railing 'against the woke agenda' after FTX's collapse
▼ + stars: | 2024-03-15 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +6 min

The most striking item on the list was going on then-Fox News host Tucker Carlson's show to "come out as a republican." "Talk about how the cartel of lawyers is destroying value and throwing entrepreneurs under the bus in order to cover up the incompetence of lawyers," Bankman-Fried memorialized. Numerous former executives and associates testified that Bankman-Fried commingled funds of FTX customers with Alameda Research, a cryptocurrency trading firm he also controlled. Bankman-Fried wrote that he could highlight that aspect of his political spending on Carlson's show. In another list, Bankman-Fried came up with a list of "Allies."

Persons: —, FTX, Sam Bankman, Michael Lewis, Lewis, Tucker Carlson's, Fried, Bernie Madoff's, Lewis Kaplan, Carlson, they'd, ANGELA WEISS, Martin Shkreli, Cory Booker of, Matt Levine, Levine, Odd Organizations: Service, ABC, Business, Fox News, US, Office, Southern, of, of New York, Alameda Research, Twitter, Getty, Congressional, Allies, Bloomberg Locations: of New, Manhattan, Cory Booker of New Jersey

☆ Premarket stocks: What customers are telling banks they care about in this election year
▼ + stars: | 2024-03-11 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Fears about the health of the real estate market, and a confusing economic landscape, leave commercial banks questioning what comes next. The commercial real estate market is definitely under some pressure because of the rising rate environment. So I think banks are watching all that closely and working closely with regulators. How long do you think commercial real estate woes will weigh on banks? It definitely persists, and it depends on the banks’ weighting of real estate as a percentage of their portfolio.

Persons: New York CNN — It’s, Bell, Chris Giamo, we’ll, They’re, It’s, That’s, Philip Wang, —, Xavier Becerra, Julie Su, Eva Rothenberg Organizations: CNN Business, Bell, New York CNN, Silicon Valley Bank, TD Bank, Sunday, Healthcare, UnitedHealth, CNN, Human Services, Labor Locations: New York, Silicon, United States, Canada

The Biden administration has limited credit card late fees to $8, a 75% reduction. Federal Reserve BoardA study by the CFPB published in 2022 showed that credit card late fees are disproportionally collected from people in low-income neighborhoods. The Good Brigade/Getty ImagesReduced credit card late fees would also be worth about $414 million to the real estate industry. A drop in the bucket of credit card costsCredit card debt is now at record levels and interest rates on those cards have soared. Interest and other credit card fees cost consumers more than $1,100 a year and are still growing.

Persons: Biden, Vance Ginn, Jenny Thorvaldson, Thorvaldson Organizations: Consumer Financial, Business, IMPLAN, Biden, Federal Reserve Bank, Federal, Brigade, Centers for Disease Control, Money Management, MMI

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