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Gold set for weekly gain on Fed rate cut boost
  + stars: | 2024-09-20 | by ( ) www.cnbc.com   time to read: +2 min
Gold lingered near record high levels on Friday and was on track for a weekly gain after the Federal Reserve's recent super-sized interest rate reduction and on signs that further cuts were on the horizon. Spot gold rose 0.2% to $2,592.17 per ounce, as of 0309 GMT, up about 0.6% for the week so far. Bullion rose to a record high of $2,599.92 on Wednesday after the Fed began easing monetary policy with a half-percentage-point rate cut. "Gold prices are expected to be well supported in the coming months due to a weaker U.S. dollar and lower bond yields, as well as against a backdrop of elevated geopolitical tensions," BMI said in a note. Spot silver rose nearly 1% to $31.09 per ounce and palladium gained 0.6% to $1,086.75.
Persons: Gold, Kyle Rodda Organizations: Federal, Fed, Capital.com, BMI Locations: Birmingham, England, Capital.com . Lower U.S, East, Lebanon, Israel, Lebanese, China, Switzerland
With Carol running steadily again, he and Congost crossed the finish line to claim the bronze medal – or so they thought. “I couldn’t believe what was happening,” Congost told CNN Sport. “The Spanish Paralympic Committee, thanks to pressure from the media, issued a statement on (September 8) that they would give me the grant as if I were a medalist. “(The Spanish Paralympic Committee) will pay me retroactively, they have promised. Thibault Camus/APCongost is adamant that Michishita, the Japanese runner who finished behind her, is not deserving of the bronze medal she was presented with.
Persons: Elena Congost, Mia Carol, Carol, Michishita, Carol cramping, Congost, ” Congost, “ I’d, I’d, I’m, , , Thibault Camus Organizations: CNN, CNN Sport, Paralympic, Olympic Games, Spanish Paralympic Committee, Spanish Paralympic, National Sports Council, Spanish Federation of Sports for Blind People, SPC, Para Athletics, Athletics, Para, Japanese Paralympic Committee, Eiffel Locations: Spanish, Rio de Janeiro, Tokyo, Brazil, Paris, disqualifying
We will ultimately eliminate the federal Department of Education,” he said earlier this month during a rally in Wisconsin. Previously, federal education programs were housed in other agencies. Ending the department may not eliminate federal education fundingFederal funding programs for K-12 schools that help support the education of students from low-income families and children with disabilities predated the creation of the Department of Education. Calls to abolish the Department of Education or merge it with another federal agency are not new. When Trump was president, his administration proposed merging the Education and Labor departments into one federal agency.
Persons: Donald Trump, Trump, , I’m, , ” Trump, Kamala Harris, ” Harris, Jimmy Carter, Pell, Joe Biden’s, Frederick Hess, Marguerite Roza, ” Roza, Ronald Reagan Organizations: Washington CNN —, Department of Education, of Education, Democratic National Convention, National Education Association, Department, Education’s, IDEA, Civil, Joe Biden’s Department of Education, Obama, Education, American Enterprise Institute, , Georgetown University, Brookings Institution, Republican, Labor, Republicans Locations: Wisconsin, Georgia, Israel
Three years ago, a drone took flight at an Ikea warehouse in Switzerland for the first time. They're more self-sufficient, too: For every 10 minutes that a Verity drone is in flight, it charges for 20 minutes. Ikea's investments in Verity's drone technology fit into its broader strategy to explore and test newer supply-chain technologies. Jönsson added that deploying drones has allowed employees to have more time for analyzing inventory data. Before using warehouse drones, workers would check thousands of pallets repeatedly in order to manage inventory.
Persons: Verity, , Raffaello D'Andrea, — there's, Uber, Jeff Bezos, Bezos, Domino's, there's, DroneUp, D'Andrea, Verity hasn't, it's, Moller, Erik Jönsson, they're, haven't, Jönsson Organizations: Ikea, Chain Management, Service, Amazon, Walmart, Companies, McKinsey & Company, McKinsey, Ikea's, Ingka, Maersk, Samsung Group, Ingka Investments, Nvidia, Federal Aviation Administration, Investors, Kiva Systems, Amazon Robotics, Qualcomm Ventures, A.P, Moller Holding, Exor Ventures Locations: Switzerland, Swiss, Dutch, , Zealand, Arizona , Florida, Utah, Dallas
She said she went from stressing constantly about retirement to living comfortably, though life is at times lonely. "Between all those things, the result of that wonderful, exciting life was that I didn't save for retirement," Gretchen said. Living comfortably for cheaperWith $3,000 a month and a small brokerage account, Gretchen and her husband live comfortably in Ecuador. Gretchen Kay and her husband live in a newly built condo in Ecuador. In Utah, they paid over $1,000 a year in property insurance and about $1,000 in property taxes.
Persons: Gretchen Kay, Robert, Gretchen, Ecuador Gretchen, wasn't, she's Organizations: Service, Business, Walmart, Social Security, Mayo Clinic, Google Locations: Ecuador, Utah, Canoa, San Vicente, Moab, South America, Peru, Ecuador's, San Diego, Quito, Cuenca
Lennar — The homebuilding stock slipped 3% despite beating analysts' expectations for its fiscal third quarter. Trump Media & Technology Group — Shares traded nearly 5% lower as selling restrictions on former President Donald Trump and other early investors ended. PepsiCo — The snacks and beverage stock slipped 1% following a downgrade at Morgan Stanley to equal weight from overweight. ASML — Shares slipped 2% after Morgan Stanley downgraded the semiconductor manufacturer to equal weight from overweight. Aptiv — Shares of the automobile technology supplier rose more than 1% after an upgrade to overweight from equal weight at Wells Fargo.
Persons: John Donahue, Elliott Hill, Lennar, LSEG, Donald Trump, MillerKnoll, Tesla, Morgan Stanley, Lee Simpson, Piper Sandler, Chewy, Buddy Chester, CNBC's Michelle Fox, Sarah Min, Jesse Pound, Samantha Subin Organizations: Nike —, FedEx —, Trump Media & Technology, , Constellation Energy, Microsoft, — Auto, Mercedes, General Motors, PepsiCo, Contessa Pharmaceuticals, Valero Energy Locations: China, Wells Fargo
The market for nonalcoholic drinks has been growing as more people — notably younger adults — look to cut their alcohol use. Bowdring says there’s emerging evidence that nonalcoholic beverages may prime kids to switch to the real thing. Surveys of elementary, middle and high school students in Japan, where the legal drinking age is 20, found that 20% to 30% said they were drinking nonalcoholic beverages. So minors in those states can buy nonalcoholic drinks but not those with low levels of alcohol. For minors, there’s no benefit in consuming nonalcoholic drinks, and there is some evidence of potential harm, she said — which is why she thinks states need to step in to curb sales.
Persons: , Molly Bowdring, Kristen Bell, Kelly Clarkson’s, , Bowdring, who’d, Leon Booth, ” Booth, ” Lisa Hawkins, Busch, officiais, Dr, Sanjay Gupta, there’s Organizations: CNN, Stanford Prevention Research, George Institute for Global Health, Budweiser, “ Anheuser, Beer, Constellation Brands, District of Columbia, Get CNN, CNN Health Locations: Corona, Japan, Taiwan, Australia, New South Wales, Georgia, Idaho, Florida, Kansas
Ryan Reynolds' storytelling abilities aren't just a quirky element of his public persona — they're the bedrock foundation of his success across multiple industries, he says. The movie's budget didn't leave much room for marketing, so Reynolds shouldered some of the load himself, filming and posting comedic advertisements on social media. Multiple of Reynolds' posts went viral, and "Deadpool" grossed $782.6 million in box office sales against a $58 million budget, according to IMDB-owned Box Office Mojo. Mint Mobile's parent company, Ka'ena Corporation, was similarly purchased for up to $1.35 billion by T-Mobile last year. "Reynolds will continue in his creative role on behalf of Mint," T-Mobile said at the time.
Persons: Ryan Reynolds, aren't, , Reynolds, Kraft, Mint Organizations: Fast, Mojo, Mint Mobile, Aviation, Diageo, Kraft Heinz, Ka'ena Corporation, Mobile, Mint
London CNN —Scientists in the United Kingdom have stored the entire human genome on a “5D memory crystal,” in the hope that it could be used in the future as a blueprint to bring humanity back from extinction. The crystal is stored in the Memory of Mankind archive in Hallstatt, Austria. “The visual key inscribed on the crystal gives the finder knowledge of what data is stored inside and how it could be used,” said Kazansky. In 2018, Kazansky and his team used the memory crystal technology to store Isaac Asimov’s “Foundation” trilogy of science fiction books, which were then launched into space aboard a Tesla Roadster. The technology has also been used to store major documents from human history, including the Universal Declaration of Human Rights and the Magna Carta.
Persons: , Peter Kazansky, optoelectronics, , Thomas Heinis, Kazansky, Isaac Asimov’s “ Organizations: London CNN —, University of Southampton’s, Research, University of Southampton, Guinness, Southampton, Imperial College London, Tesla, Human Rights, Magna Carta Locations: London, United Kingdom, Austria
Today, makeup is part of everyday life, part of how we see ourselves and how others see us. As I grew up and my vision became more impaired, my relationship with makeup, and myself, started to crumble. Smoky eyes ‘til I dieI used to avoid eye makeup because precision was never my strong suit. Embrace your faceMy relationship with makeup has taught me many things, but the most important lesson is that it’s okay to embrace your face. Though my sister and I no longer live together, we still bond over our shared love of makeup.
Persons: kohl, JIA, Freya Rogers, , Charlotte Tilbury’s, I’ve Organizations: CNN, kohl Locations: Egypt
Galaxy Gas: What it is, the risks and more
  + stars: | 2024-09-20 | by ( Kristen Rogers | ) edition.cnn.com   time to read: +7 min
CNN —For some young people, a popular method for getting a quick high is by misusing laughing gas — and lately, that’s in the form of nitrous oxide from products sold by the company Galaxy Gas. (It’s worth noting that some social media videos tagged “Galaxy Gas” depict nitrous oxide products from other brands.) The unlawful misuse of nitrous oxide products poses serious health hazards, said a Galaxy Gas spokesperson in a statement. “Galaxy Gas products are for responsible culinary use only, and we are deeply concerned about the recent news reports and social media posts of individuals illegally misusing our products,” the company spokesperson added. Other risks include brain damage, anemia, nerve damage, paralysis, vitamin B12 deficiency and nitrous oxide dependency.
Persons: Gail Saltz, Saltz, ” TikTok, ” Saltz, “ It’s, it’s, Organizations: CNN, company Galaxy Gas, Weill Cornell Medical College, Cornell University, Presbyterian, Gas, Galaxy Gas Locations: Atlanta, New York, United States, United Kingdom, Britain —, Netherlands
Read previewWestern restrictions on how Ukraine can hit targets in Russia make its F-16 fighter jets less effective, military experts told Business Insider. This, in turn, leaves Russia's weaponry more free to hit Ukrainian jets, making them more vulnerable and less able to fly close to the front lines. A still from footage by Ukraine's air force that shows a Storm Shadow missile being launched. A limited number of F-16sThe effectiveness of Ukraine's F-16s faces other challenges, too. Ukraine and its allies, as well as warfare experts, also describe Ukraine's F-16 program as being in its infancy.
Persons: , George Barros, Barros, DIMITAR DILKOFF, Michael Bohnert, Gordon B, Skip, Davis, Jr, Volodymyr Zelenskyi, Vitalii, it's, Czarek, Michael Clarke, Volodymyr Zelensky, Keir Giles, Oleksiy, Zelenskyy, Ukraine's Organizations: Service, Business, Getty, RAND Corporation, Shadow, YouTube, Ukrainian Air Force, AP, Chatham House's, Air, Libkos, Ukraine US Locations: Ukraine, Russia, AFP, Kursk, Denmark, Norway, Belgium, Netherlands, Poland, Chatham House's Russia, Eurasia, Russian, Ukrainian, Shepetivka, Britain
She told Business Insider that the difference between an au pair and a nanny is in the scope of the role. "Au pairs are allowed to negotiate for more; however, most families pay this because au pairs are afraid to speak up." Related storiesHutchinson's interest in becoming an au pair was sparked by her college dean, who talked fondly of her experiences as an au pair in America two decades earlier. Typically, they would video chat with a potential au pair from afar before hiring one for a 12-month position. She's still waiting on paperwork, but once her au pair time concludes, she plans to pursue a different path.
Persons: , Angel Hutchinson, she's, She's, Hutchinson, ZAR, we've, Hutchinson's, she'd, it's, I've, Lauryn Haas Organizations: Service, Business, State Department, Rockies, VW Jetta, lhaas Locations: Durban, South Africa, Maryland, Puerto Rico, America, Indian, New Jersey, Colorado
CNN —Joel Embiid and the Philadelphia 76ers have agreed to a three-year, $192.9 million maximum contract extension, a source familiar with the contract figures told CNN. Taking his total career earnings to $514.8 million, Embiid would become the fifth member of the NBA’s $500M club, joining LeBron James, Stephen Curry, Kevin Durant and 76ers teammate Paul George. I had no idea when I was drafted as a 20-year-old kid from Cameroon how lucky I was to be in Philadelphia,” Embiid said in a statement. We’re ecstatic that this extension keeps him and his family in Philadelphia for years to come,” 76ers managing partner Josh Harris said in a statement. During his career, Embiid has made the All-NBA Team five times, the All-Star team in each of the last seven years, and was NBA scoring champion in both 2021-22 and 2022-23.
Persons: CNN — Joel Embiid, LeBron James, Stephen Curry, Kevin Durant, Paul George, , ” Embiid, they’ve, Josh, Harris, David, Blitzer, “ Joel, Josh Harris, Embiid, George, Tyrese Maxey Organizations: CNN, Philadelphia 76ers, NBA, ESPN, The, 76ers, Sixers, USA, ” 76ers, Team, Star Locations: City, Cameroon, Philadelphia
Josh Allen, #17 of the Buffalo Bills, warms up prior to an NFL game against the Miami Dolphins at Hard Rock Stadium in Miami Gardens, Florida, on Sept. 12, 2024. It won't be an ordinary "Monday Night Football" gameday for Buffalo Bills fans next week. Erie County, where Buffalo sits, is selling the bonds to help fund half the $250 million it agreed to put up for the new stadium. The new stadium will be owned by the Erie County Stadium Corporation and the Bills will pay rent. The Buffalo Bills are 2-0 this season and take on the winless Jaguars on Monday night.
Persons: Josh Allen, Kevin Hardwick, Hardwick Organizations: Buffalo Bills, NFL, Miami Dolphins, Jacksonville Jaguars, Bills, Retail, Investments, CNBC's Official NFL, National Football League, Kansas City Chiefs, Erie, Stadium Corporation Locations: Miami Gardens , Florida, Orchard Park, Buffalo, Erie County, New York, Erie
Stifel warns of a sharp stock market correction by year-end, with the S&P 500 potentially dropping 12%. "Our instruments tell us to expect an S&P 500 correction to the very low 5,000s by 4Q24," Bannister said. AdvertisementInvestors should prepare for a sharp and quick correction in the stock market before the end of the year, according to Stifel. In a note on Thursday, chief equity strategist Barry Bannister of Stifel warned that the S&P 500 could trade 12% lower in the fourth quarter. "Our instruments tell us to expect an S&P 500 correction to the very low 5,000s by 4Q24," Bannister said.
Persons: Stifel, Barry Bannister, Bannister, Organizations: Service
FedEx earnings miss could signal a slowing economy
  + stars: | 2024-09-20 | by ( Chris Isidore | ) edition.cnn.com   time to read: +3 min
CNN —FedEx said a weaker industrial economy produced a “challenging” quarter that caused it to trim its outlook for later this year, a sign of possible cooling in the wider economy. “The labor market is in solid condition, and our intention with our policy move today is to keep it there,” Powell said. “You can say that about the whole economy: The US economy is in good shape. The labor market is at a strong pace. Shares of FedEx had been up 21% year-to-date through Thursday’s close before Friday’s decline.
Persons: Rajesh Subramaniam, ” Subramaniam, John Dietrich, Subramaniam, , , we’re, Jerome Powell, ” Powell Organizations: CNN, FedEx, Federal Reserve
The Federal Reserve's first interest rate cut since 2020 helped drive the week's gains. The anticipation and delivery of the Federal Reserve's first interest rate cut since 2020 helped drive the gains this week. The Fed issued a jumbo 50 basis point interest rate cut to "recalibrate" monetary policy, as Fed Chairman Jerome Powell put it nine times during his FOMC speech on Wednesday. US stocks soared on Thursday after declining slightly on Wednesday, as investors had more time to digest the Fed's interest rate decision. AdvertisementThe S&P 500 and Dow Jones Industrial Average both hit record highs on Thursday.
Persons: , Jerome Powell, Raymond James, Larry Adam, Adam Organizations: Dow, Federal, Investors, Service, Nasdaq, Dow Jones, Fed, Dow Jones Industrial
Attempts to purge voter rolls increase as election nears
  + stars: | 2024-09-20 | by ( Devan Cole | ) edition.cnn.com   time to read: +11 min
As of Tuesday, at least three dozen cases related to voter rolls and their maintenance are pending in 19 states, according to the liberal-leaning Democracy Docket, which tracks election litigation. The right-wing effort to purge voter rolls has largely centered around claims that noncitizens are casting illegal votes in favor of Democrats. “There’s always been some litigation about voter rolls and list maintenance. Reviewing voter rolls is a regular practice for states, and despite the 90-day quiet period, the NVRA does allow individuals to ask to be taken off lists close to an election. The federal law exempts some states if they allow voter registration on Election Day at polling centers where federal elections are conducted.
Persons: Donald Trump’s, Joe Biden, Kamala Harris ’, Brennan, “ There’s, , Uzoma Nkwonta, Nkwonta, ” Justin Levitt, , Meritless, Biden, Jason Frazier, Earl Ferguson, Wes Allen, Allen, State Francisco Aguilar, Aguilar, Levitt, J, Christian Adams, Daniel Dale, Fredreka Schouten Organizations: Washington CNN, Republican National Committee, Justice Department, Brennan Center for Justice, New, Loyola Law School, Biden White House, Republicans, NGPAF, Biden, Trump ., DOJ, CNN, Alabama Republican, RNC, Nevada Democratic, State, Nevada Department of Motor Vehicles, Survey, Michigan Bureau, Interest Legal Foundation Locations: Georgia , Nevada , Michigan, Wisconsin, New Georgia, Georgia, Fulton County, Fulton, Trump, Trump . Fulton County, Atlanta, Nevada, Michigan , North Carolina, Arizona, Michigan
The SALT deduction allows tax payers to deduct up to $10,000 of property, sales or income taxes that have already been paid to state and local governments. Historically, most of the tax payers who claim the deduction reside in high tax states such as New York, Connecticut, New Jersey and California. There was no cap on SALT prior to the Trump tax bill. Some of those recent conversations have featured Trump's new stance on bringing back the full SALT deduction, despite his bill being the cause for the $10,000 cap. Rep. Young Kim, R-Calif., told CNBC in a statement that the SALT cap is "hurting" her constituents and said Trump's most recent take on SALT shows he's listened to "Americans across the country hurting from the SALT cap."
Persons: Josh Gottheimer, Donald Trump's, Trump, Andrew Garbarino, Garbarino, Anthony D'Esposito, Nick LaLota, Jason Smith, Smith, Young Kim, he's, Kim, they'll Organizations: United States Capitol, Republicans, Senate, Capitol, New York Republicans, CNBC, Democrats, The New, The New Jersey House, Democratic Locations: Washington ,, New York , Connecticut , New Jersey, California, The, The New Jersey
This is the first Harris campaign ad tying Trump to a down-ballot campaign, the Harris campaign told CNN. The Trump campaign did not immediately respond to a request for comment about the new ad. In a statement to CNN following Thursday’s KFile reporting, Trump campaign spokeswoman Karoline Leavitt said, “President Trump’s campaign is focused on winning the White House and saving this country. We will not take our eye off the ball.”The Trump campaign has so far declined to weigh in specifically on CNN’s reporting about Robinson’s controversial comments. Before the CNN story was published, Trump’s campaign had not invited Robinson to Trump’s Saturday event, and sources noted that decision was likely to hold.
Persons: Kamala Harris ’, Donald Trump, Mark Robinson, Robinson, Harris, Trump, intersperses, , Martin Luther King ”, Walz campaign’s, Roe, Wade, Harris ’, Amber Thurman, Candi Miller, ” Harris, Walz, Jen O’Malley Dillon, “ Trump, ” O’Malley Dillon, Karoline Leavitt, Trump’s, Biden, “ Martin Luther King Organizations: CNN, North, Republican, Labor, White, Trump Locations: North Carolina, Georgia, Wilmington , North Carolina, Asheville, Asheboro
In this article AAPL Follow your favorite stocks CREATE FREE ACCOUNTwatch nowApple on Friday greeted customers at its stores around the world for the debuts of the iPhone 16, Apple Watch Series 10 and AirPods 4. The software advancements will only be available on iPhone 16 and last year's iPhone 15 Pro devices. A view of Apple's new iPhone 16 at an Apple Store on the Regent Street in London, United Kingdom on September 20, 2024. Last year, UBS wrote, customers had a 41-day wait time for some iPhone 15 Pro Max preorders compared to a 26-day wait time for the iPhone 16 Pro Max this year. Devices of the new Apple Watch Series 10 model are on display after the presentation at Apple headquarters.
Persons: Siri, Rasid, Chi Kuo, shouldn't overreact, Max preorders, Max, Andrej Sokolow Organizations: Apple, Apple Intelligence, Anadolu, Getty, TF Securities Analyst Ming, Barclays, JPMorgan, Bank of America, UBS, Pro Locations: New York City, London, United Kingdom, China
A Georgia mother died in 2022 from a treatable infection due to delays to her medical care stemming from the state’s restrictive abortion law, nonprofit news outlet ProPublica reported. According to ProPublica, Miller’s family told a coroner she did not seek care because of laws around pregnancy and abortion. The family shared their story and engaged with the vice president in an emotional moment. The Harris campaign is hoping the political saliency of reproductive rights can help galvanize voters ahead of Election Day. Last week, the Harris campaign launched an abortion-focused ad, capitalizing on what officials said was a pivotal exchange between Harris and Trump.
Persons: Kamala Harris, , Harris, Joe Biden’s, , Biden, Roe, Wade, Amber Nicole Thurman, ProPublica, Candi Miller, Miller’s, Thurman’s, Oprah Winfrey, Trump, Hadley Duvall Organizations: CNN, Democratic, Republican, Tennessee Republicans, Harris, New York Times, Siena College, Trump Locations: Georgia, Nashville, Florida, Arizona, North Carolina
But that means investors once again exposed to risks of a tech bubble inflating anew. Hartnett says investors should allocate to bonds and gold to hedge bubble risk. But it means investors will have to chase the stock market surge as bubble risks bounce back, he added. AdvertisementHartnett has previously warned of the potential for a tech bubble as investment in AI has soared. Amid further AI investment and easing policy, Hartnett says the best way to position portfolios is with allocations to bonds and gold, which hedge against growth and inflation risks.
Persons: BofA's Michael Hartnett, Hartnett, , Michael Hartnett Organizations: Service, Federal Reserve, Bank of America, Nvidia, Broadcom, ASML, Meta, Treasury
After you put out your story and New York magazine put out a statement, Nuzzi put out her own statement, which might change the way people perceive the story. And as New York magazine said, I think they're taking this pretty seriously. Since we're having a media business conversation now: I was surprised when you launched that you made this a subscription product. There is lots of media journalism out there that is for free. So this stuff is expensive, and if you want to support good journalism, I think you should pay for it.
Persons: , Olivia Nuzzi, Robert F, Kennedy Jr, Donald Trump, Nuzzi, Oliver Darcy, Darcy, Olivia, Joe Biden, It's, She's, CNN's Donie O'Sullivan, Tasos Katopodis, it's, I've, there's Organizations: Service, RFK Jr, Business, CNN, Vox Media, New York, RFK, White, York, Getty Images Locations: Olivia Nuzzi , New York, Donald Trump ., York, New York, America
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