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Meanwhile, Mizuho raised its price target on Palo Alto Networks ahead of the company's upcoming earnings release. But Grambling shaved $4 off his price target to $47, though that still implies 57.5% upside from Monday's close. Long kept his price target unchanged at $97, which reflects just 1.8% in upside over Monday's closing price. Analyst Laurent Yoon downgraded the media stock to market perform from outperform and shaved $2 off his price target to $8. Analyst Gregg Moskowitz raised his price target on the cybersecurity stock to $380 from $350, maintaining his outperform rating.

Persons: Bernstein, Mizuho, Rollins, Wells Fargo, Jason Haas, Haas, — Alex Harring, Thomas Palmer, Palmer, Morgan Stanley, DraftKings, Stephen Grambling, Grambling, Alex Harring, Tim Long, Long, Dell, Damian Karas, Karas, " Karas, Warner, Laurent Yoon, Yoon, Discovery's Turner, Gregg Moskowitz, Moskowitz, Fred Imbert Organizations: CNBC, Warner Bros, Palo Alto Networks, Hormel Foods, Citi, Hormel, Planters, Grambling, DraftKings, Barclays, Dell, Nasdaq, UBS, Discovery, NBA, Discovery's Turner Sports, Mizuho Locations: Wells Fargo, Monday's, Southern, Grambling, Palo Alto

☆ Cramer says new Starbucks CEO Brian Niccol is key to the company's turnaround after management shake-up
▼ + stars: | 2024-08-13 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Tuesday discussed Starbucks ' management shake-up, saying the new leadership will be crucial to turn the business around after the ubiquitous coffee chain announced it would replace CEO Laxman Narasimhan with Brian Niccol, who is currently the CEO of Chipotle . "Brian Niccol is the key to a new Starbucks, one that can reclaim its old mantle as the 'third place' — you just need to know that this turnaround can't happen overnight," he said. According to Cramer, Narasimhan wasn't the right person for the role, saying Starbucks needed an executive familiar with the fast-food industry to effectively solve its issues. Niccol's record at Chipotle makes him a great fit for the role, Cramer said. "No, Starbucks brought in Brian Niccol, the man who almost singlehandedly turned around Chipotle, to run the business.

Persons: CNBC's Jim Cramer, Laxman Narasimhan, Brian Niccol, Cramer, Narasimhan, Niccol Organizations: Starbucks, McKinsey, PepsiCo, Chipotle Locations: U.S, China, Chipotle

☆ Gautam Adani hit by fresh Hindenburg allegations against India’s market regulator
▼ + stars: | 2024-08-12 | by ( ) edition.cnn.com time to read: +3 min

Adani Group companies shed as much as $19 billion in market value on Monday after Hindenburg Research accused the Indian market regulator probing the group of having links to offshore funds also used by Adani. Adani Enterprises and Adani Ports were among the biggest losers on India’s blue-chip Nifty 50 index. Total losses in Adani companies narrowed to $9 billion after the early plunge. It caused one of the most stunning upheavals in India’s corporate history in January 2023 when it alleged improper use of tax havens and stock manipulation by the Adani Group. “We do not think SEBI can be trusted as an objective arbiter in the Adani matter,” Hindenburg said on Saturday.

Persons: Adani, Gautam, Hindenburg, Madhabi Puri, Vinod Adani, Gautam Adani, ”, Sunny Agrawal, Buch, ” Hindenburg, SEBI, “, Kranthi Bathini, Rahul Gandhi, ” Ajay Seth Organizations: Adani, Hindenburg Research, Adani Enterprises, Securities and Exchange Board of India, SBICAPS Securities, Equity, WealthMills Securities Locations: New York, Madhabi Puri Buch

☆ Traders are betting on an outsized move in Deere on earnings this week — how to play it
▼ + stars: | 2024-08-12 | by ( Michael Khouw | ) www.cnbc.com time to read: +6 min

Deere (DE) , headquartered in Moline, Illinois, manufactures agricultural machinery, heavy equipment, forestry machinery, diesel engines, and related components. One of the oldest companies in the United States, Deere traces its history back to John Deere's "self-scouring plow" in 1837. However, even assuming 50 bushels per acre and a $5/bushel average price increase, the revenue per acre would have risen by ~$250/acre. However, while Deere & Company stock has underperformed the S & P this year, its enterprise value is nearly $100 Billion, almost double the company's valuation in January 2020, just before the pandemic. Unsurprisingly, DE options are pricing in a larger-than-average 6% move when the company reports earnings on Thursday.

Persons: John Deere's, John Deere, outperforming, Massey Ferguson Organizations: Deere, Caterpillar, Deere & Company, Nasdaq, Farmers, CNH Industry, CNBC, NBC UNIVERSAL, ~$, ~ $ $ Locations: Moline , Illinois, United States, Mexico, Holland

☆ New study links early childhood tablet use to anger outbursts
▼ + stars: | 2024-08-12 | by ( Katia Hetter | ) edition.cnn.com time to read: +9 min

One paper published just this year sheds some light as to why tablet use could be related to anger outbursts. This is in the context of near-universal use of social media, with up to 95% of kids ages 13 to 17 reporting using social media. American teens report spending a shocking amount of time — nearly five hours each day—on YouTube, TikTok, Instagram and other social media apps. There are a number of problems with this level of social media use, one of which is what this time is replacing. Third, for those whose kids already have smartphones and use social media apps, speak with them about the impact of social media on them.

Persons: Leana Wen, Wen, It’s, I’ve, Vivek Murthy, Murthy, I’d Organizations: CNN, George Washington University, Getty, Pediatrics, YouTube Locations: Nova Scotia, Canada, South Africa

☆ Nvidia swings again — plus, an industrial name tied to the data center boom gets an heir-apparent
▼ + stars: | 2024-08-12 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street.

Persons: Jim Cramer, It's, Blackwell, Nvidia's, Eaton, Paulo Ruiz, Ruiz, Craig Arnold, Arnold, We're, Stanley Black, Decker, Jim Cramer's, Jim Organizations: CNBC, Treasury, Nvidia, UBS, Club, Fed, PPI, Jim Cramer's Charitable Locations: York

☆ India's Bharti to buy Drahi's stake in BT, worth $4 billion
▼ + stars: | 2024-08-12 | by ( ) www.cnbc.com time to read: +2 min

India's Bharti Enterprises said it would acquire a 24.5% stake in BT , worth about 3.2 billion pounds ($4 billion), buying out the British company's top investor, telecoms tycoon Patrick Drahi, as his Altice group struggles with high debts. The Indian company said it would buy an initial 9.99% stake before seeking to add the remaining 14.51% following regulatory approvals. Bharti said it supported BT's executive team and strategy as the group pushed forward with an "ambitious" transformation programme to deliver long-term sustainable growth. BT's shares have risen by 24% in the last six months as the fruits of its long-term investment plan to build the country's fibre network start to materialise. "This scale of investment from Bharti Global is a great vote of confidence in the future of BT Group and our strategy," Kirkby said in a statement following the investment.

Persons: India's, Patrick Drahi, Bharti, Drahi, Carlos Slim, Allison Kirkby, Kirkby Organizations: India's Bharti Enterprises, BT, UK National Security and Investment, Bharti Global, BT Group Locations: Abu Dhabi

Condo owners unable to pay an assessment can be foreclosed on by their condo association. After that, she plans to move back into her Florida condo, but in the meantime, she’s been living with her adult son. But that’s what happens when prior boards don’t do their job.”But the decision ended up pitting the building’s owners against each other, with some owners saying the work was unnecessary. “These guys ruined my early retirement plan.”Lopez, who helped craft the legislation, said she is looking for ways to provide relief to condo owners once Florida’s Legislature reconvenes next year. Stone would like to see the state Legislature give buildings and condo owners more time to comply with the regulations so they would be able to spread out the costs.

Persons: Janet Stone, she’s, ’ ”, Stone, We’ve, ”, Vicki Lopez, “, —, Greg Batista, he’s, reapplied, ” Stone, Krista Goodrich, they’ve, Batista, Joseph Hernandez, Edgardo Defortuna, ” Defortuna, Jeremy Maurice, Maurice, ” Maurice, Steve Davis, Cristian Murray, ” Murray, ” Lopez, reconvenes, “ I’m, I’m Organizations: Florida House, NBC, Yacht, Surfside, Condo, realtors, Statewide, Dade, University of Miami Locations: Florida’s, Las Vegas, Ormond Beach , Florida, Florida, Champlain, Miami, ”, Daytona Beach, Orlando, Miami Beach, Hollywood , Florida, Ormond Beach, Redfin, Volusia County, South, Dade County

Below, we've outlined everything you need to know about how to watch the Olympics Closing Ceremony, including free global options. Check price at FuboHow to watch the Olympics Closing Ceremony in the UKThe Olympics Closing Ceremony will be available on the BBC, so it will be free to live stream through BBC iPlayer in the UK. How to watch the Olympics Closing Ceremony in AustraliaThe Olympics Closing Ceremony will live stream for free through 9Now in Australia. How to watch the Olympics Closing Ceremony in FranceThe Olympics Closing Ceremony will live stream for free through France.TV in France. How to watch the Olympics Closing Ceremony from anywhereThose who will be away when the Closing Ceremony takes place can still access their free options via VPN.

Persons: it's, Katie Ledecky, Nick Mead, aren't, you've, Peacock, you'll, Stan Sport, ExpressVPN Organizations: Business, Stade de France, Olympics, NBC, Peacock, BBC, Eurosport Locations: Paris, Angeles, United States, Australia, 9Now, France, France.TV

☆ 'These are not normal;' A new type of dealmaking for AI startups is rattling Silicon Valley
▼ + stars: | 2024-08-10 | by ( Ben Bergman | Sri Muppidi | ) www.businessinsider.com time to read: +7 min

Google unnerved Silicon Valley last week when it agreed to pay $2.5 billion to license Character.AI's technology, hire its two superstar cofounders and 20 percent of employees. The deal came after AI developers Adept and Inflection both effectively sold themselves to Amazon and Microsoft, respectively, in recent months. It was only last year Character.AI raised $150 million in venture funding, which valued the company at $850 million. Its appeal as a chatbot that uses AI to make virtual characters that interact with users seems decidedly niche. Related storiesMost of the founders and investors Business Insider spoke to for this story say Google has little interest in Character.AI's actual product.

Persons: cofounders, Brent Queener, Kyle Sanford, Character.AI, Iris Sun, Noam Shazeer, Daniel De Freitas, Jack Selby, Peter Thiel's, Steve Brotman, Shazeer, De Freitas, PitchBook's Sanford, they're, Roy Bahat, Arvind Jain, Cameron Lester, Lester Organizations: Service, Microsoft, Bonfire Ventures, Business, Apple, Big Tech, AZ, Biden Administration, Federal Trade Commission, Department of Justice, Alpha Partners, FTC, DOJ, New York Times, Google, Madrona Venture, Bloomberg Beta, Jefferies

Mortgage rates fell dramatically this week, with 30-year mortgage rates even briefly dipping below 6% for the first time since early 2023, according to Zillow data. This should remove a lot of the upward pressure off of mortgage rates and allow them to ease. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. As inflation slows and the Federal Reserve is able to start cutting the federal funds rate, mortgage rates are expected to drop.

Persons: they've, Fannie Mae Organizations: Treasury, Federal Reserve, Zillow, Mortgage, Association, ARM Locations: Chevron

☆ This industry is defying America’s slowing job market
▼ + stars: | 2024-08-10 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Enter America’s top job creator: The mighty health care industry. Demand for health care workers remains red hot, according to recent government data on job openings. In June, the health care and social assistance industry had the highest seasonally adjusted job openings rate of any industry, at 7.6%, well above the total rate across the job market of 5.5% that month. That has translated into fatter paychecks for health care workers compared to the general private sector. “Virtually every nurse or health care tech in the country has a job,” Girard said.

Persons: Washington CNN —, there’s, ”, Julia Pollak, ZipRecruiter’s, ” David Mafe, Mafe, it’s, “ We’ve, ” Mafe, “ We’re, Sebastien Girard, Girard, ” Girard, “, Pollak, ” Pollak, “ She’s, She’s Organizations: Washington CNN, Employers, Labor Department, CNN, “, Novant Health Locations: UCHealth, Denver, North Carolina, “, California

☆ Disney and this AI stock are among the most oversold stocks this week and could be due for a bounce
▼ + stars: | 2024-08-10 | by ( Sean Conlon | ) www.cnbc.com time to read: +4 min

With this in mind, CNBC Pro screened for the most overbought and oversold stocks on the Street, as measured by their 14-day relative strength index, or RSI. Alternatively, stocks are viewed as oversold with an RSI below 30, which suggests a possible buying opportunity. While shares are slightly positive on the week, up nearly 1%, the stock has tumbled 10% in 2024. TTWO YTD mountain Take-Two Interactive Software, year-to-date Other stocks that made the oversold group are artificial intelligence infrastructure play Super Micro Computer and Ulta Beauty . The stock closed out the week nearly 25% higher and is up more than 41% this year.

Persons: Stocks, Hugh Johnston, Mars, Lockheed Martin, Northrop Grumman Organizations: Federal Reserve, Nasdaq, Dow Jones Industrial, CNBC Pro, Disney, Software, Lockheed, RBC Locations: U.S

☆ U.S. men, with Rai Benjamin anchoring, win 4×400 relay gold for third consecutive Olympics
▼ + stars: | 2024-08-10 | by ( Marcus Thompson Ii | ) www.nytimes.com time to read: +2 min

SAINT-DENIS, France — No issues with this men’s relay team. One night earlier, the 4×100 relay team — featuring some of the fastest men in the world — squandered their chance at gold. Rai Benjamin holds off Letsile Tebogo to anchor Team USA to gold in the 4x400m relay! Their names aren’t on the marquee of USA Track and Field. And Benjamin — as he did in Tokyo, and in the 2023 World Championships, and in the 2019 World Championships — brought home the gold for the third consecutive Games.

Persons: DENIS, Christopher Bailey, Vernon Norwood, Bryce Deadmon, Rai Benjamin, Benjamin, —, Britain, Carl Lewis, hasn’t, ames, aris G ames, hird Organizations: aris Locations: France, Friday’s, Botswana

☆ Best Amazon back-to-school supplies 2024
▼ + stars: | 2024-08-09 | by ( Bethany Heitman | Bethany Heitman Is A Contributing Editor At Nbc Select. | ) www.nbcnews.com time to read: +12 min

SKIP AHEAD Classroom supplies | Lunch boxes, water bottles and backpacks | Dorm essentials | TechThe best back-to-school supplies from AmazonTo curate a list of the best back-to-school supplies from Amazon, we focused on items that have been recommended to us previously by experts or with a minimum of a 4.0-star average rating. Classroom supplies for back-to-schoolThese notebooks, which have a 4.7-star average rating from over 2,500 reviews on Amazon, come in a set of 6. This pack of pens has a 4.7-star average rating from over 43,000 reviews on Amazon. This case has a 4.7-star average rating from over 12,675 reviews on Amazon. Look no further than this model from Texas Instruments, which has a 4.7-star average rating from 2,556 reviews on Amazon.

Persons: bento, Lindsay Schneider, Keurig, you’ll, Bethany Heitman, TikTok Organizations: Target, Walmart, Amazon, Texas Instruments, NBC, Tech, MacBook, Bluetooth, AA, Kindle, Facebook, Twitter Locations: Amazon, sharpener, Rockland

See our picks for the best debt consolidation loans »PenFed Personal Loan FeaturesPenFed Credit Union Personal Loan amounts range from $600 to $50,000. For example, Navy Federal Credit Union Personal Loan amount range is $250 to $50,000, and the range for Connexus Credit Union Personal Loan is $2,500 to $25,000. PenFed Personal Loan Pros and ConsPenFed Credit Union Personal Loan ProsWide range of loan amounts. PenFed Personal Loan ConsYou have to be a member to get your loan. Yes, PenFed Credit Union is a legitimate credit union federally insured by the National Credit Union Administration.

Persons: Coborrowers, you've, You'll, Formally, PenFed, Ryan Wangman, Read, Elias Shaya, Elias Organizations: PenFed Credit Union, PenFed, Pentagon Federal Credit Union, Navy Federal Credit, Connexus Credit, you'll, Social, PenFed Credit, National Credit Union Administration, Better Business, Chevron, Navy Federal Credit Union, Navy Federal, Department of Defense, Connexus Credit Union Connexus Credit Union, Connexus Association, Credit Union, Better Business Bureau, Finance, Northwestern University, Boston Globe Locations: PenFed, Chevron, Wisconsin , Minnesota, Ohio, New York City

Average 30-year mortgage rates dropped 26 basis points to 6.47%, their lowest level since May 2023, according to Freddie Mac. If today's mortgage rates are lower than the rate you're currently paying, refinancing could be worth it. See more mortgage rates on Zillow Real Estate on ZillowToday's refinance ratesMortgage type Average rate today This information has been provided by Zillow. Now that inflation has decelerated and a Fed cut is looking more likely, mortgage rates have trended down. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: Freddie Mac, Sam Khater, Freddie Mac's, you'll, Fannie Mae Organizations: Zillow, Mortgage, Association, Sky Locations: Chevron

☆ E.l.f. Beauty sales jump 50% on gains in color cosmetics and skin care, launch of Bronzing Drops serum
▼ + stars: | 2024-08-08 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +6 min

The company's sales soared to $324.5 million in its fiscal first quarter, leading it to raise its full-year guidance. He added that its Bronzing Drops serum quickly became a best seller on the company's website after its launch during the quarter. Following quarter after quarter of outsized growth, Wall Street has come to expect a lot from E.l.f. The company now anticipates its adjusted net income will be between $198 million and $201 million, compared with a previous outlook of between $187 million and $191 million. During the quarter, selling, general and administrative expenses increased by roughly $88.6 million to $180.6 million, representing 56% of net sales.

Persons: Tarang Amin, E.l.f, Mandy Fields, Fields, I'm, we're, Amin, we've, Gen Z, We'll, Gabby Douglas, Anastasia, Tas, Jameela Jamil Organizations: CNBC, LSEG, Alpha Locations: E.l.f

☆ Gold rises more than 1% on safe-haven demand, Fed rate-cut optimism
▼ + stars: | 2024-08-08 | by ( ) www.cnbc.com time to read: +2 min

Prices of safe-haven gold edged higher on Thursday, supported by Middle East tensions and optimism surrounding U.S. rate cuts, while traders awaited economic data for clues on the Federal Reserve's policy trajectory. Gold prices rose more than 1% on Thursday, supported by firm safe-haven demand and growing expectations for a sizeable interest rate cut from the U.S. Federal Reserve in September. Spot gold rose 1.27% to settle at $2,463.3. Brokerages including J.P.Morgan, Citigroup and Wells Fargo have forecast a 50-basis-point interest rate cut by the Fed in September after last week's U.S. jobs data. Gold prices fell as much as 3% on Monday, caught in a global sell-off driven by fears of a U.S. recession.

Persons: Alex Ebkarian, Bullion Organizations: Federal, U.S . Federal Reserve, J.P.Morgan, Citigroup, Fed Locations: Iran, Israel, Wells, U.S

Here are some of the progressive measures Walz has enacted as governor:Child tax creditMany lower-income Minnesota families can access a state child tax credit, which Walz signed into law last year. Free college tuitionLast year, Walz signed a bill into law that made college tuition free for students from Minnesota families who earn less than $80,000 a year. Walz’s executive order directed state agencies to study the effectiveness of the care and investigate any health organization that denied it. The bill also raised the sales tax in the seven-county Twin Cities metropolitan area by 0.25% to create a permanent funding stream for Minnesota housing programs. Voting rights for ex-felonsLast year, Walz signed a bill into law that restored voting rights to more than 55,000 formerly incarcerated people in Minnesota.

Persons: Biden, Tim Walz, Kamala Harris, Joe Biden, Harris, Walz, ”, Roe, Wade, ” Walz, It’s, –, Walz “, Tim ”, Sandra Feist, “ Organizations: CNN, Minnesota Gov, Democratic, Tax Foundation, Free, North, Minnesota, US, Guttmacher Institute, Universal, US Centers for Disease Control, Income Housing Coalition, Twin, Republicans Locations: Minnesota, Iowa, Twin Cities, Minnesota . Minnesota

☆ JD Vance said migrants are the reason it's so expensive to rent or buy homes. He's wrong.
▼ + stars: | 2024-08-07 | by ( Alcynna Lloyd | Eliza Relman | ) www.businessinsider.com time to read: +5 min

With ongoing affordability challenges exacerbated by high interest rates and inflated home values, housing is a major concern for Americans across the political spectrum. "When I talk to Americans, one of the biggest concerns I hear is, 'Why are housing costs so high?' In the past, Vance has blamed the housing affordability crisis largely on high interest rates. Many economists disagree with Vance's argument about the source of the housing affordability crisis and his solution to it. They've also blamed the current administration for relatively high interest rates, which are determined by the independent Federal Reserve and designed to control inflation.

Persons: —, JD Vance, Vance, Sean Hannity, Kamala Harris, Daryl Fairweather, Fairweather, hasn't, Ned Davis, There's, Donald Trump's, Biden, Harris, They've Organizations: Service, Fox News, Republican, Business, Federal Reserve, Ned Davis Research, Trump Locations: Ukraine

☆ Speed climbing: Aleksandra Mirosław celebrates ‘dream come true moment’ as first gold medalist in Olympic history
▼ + stars: | 2024-08-07 | by ( George Ramsay | ) edition.cnn.com time to read: +5 min

And not just any Olympic champion; Mirosław became the first-ever gold medalist in the sport of speed climbing on Wednesday, defeating China’s Deng Lijuan in the final. The format has changed in Paris, with speed climbing now awarded its own set of medals. Despite her superiority in speed climbing, setting a world record in the final, she finished fourth in Tokyo, just outside of the medals. “Lead climbing and bouldering, it’s completely different to speed climbing. “It means a lot, the first time for speed climbing and also for me here in the discipline,” said Mirosław.

Persons: Le, Paris CNN — Aleksandra Mirosław, Mirosław, China’s Deng Lijuan, ”, “, …, Le Bourget, Poland’s, Jack Gruber, Deng, Ola Kałucka, Kałucka, Indonesia’s Rajiah, it’s, Michael Reaves Organizations: Paris CNN, Paris, USA, Sports, Reuters, Tokyo, –, Wednesday, Paris Olympics Locations: Le Bourget, Paris, Tokyo, Parisian, Le, Boulder

Japan stocks rebounded sharply on Tuesday after the Nikkei 225 and the Topix dropped over 12% in the previous session. The Bank of Japan raising rates to their highest level since 2008 on July 30 caused the yen to strengthen to a seven-month high, pressurizing stocks. Markets globally were also spooked by fears of a U.S. recession stoked by a weaker-than-expected jobs report. Real wages in Japan also grew 1.1% in June compared with a year ago, the first time that wages have risen in 26 months. Strong wage growth offers more room for the Bank of Japan to tighten its monetary policy.

Persons: Topix, Korea’s Kospi, Hong, Australia’s, Brent, Dow Organizations: Nikkei, Bank of, Softbank Group Corp, U.S ., South Korean, Samsung Electronics, chipmaker SK Hynix, China’s CSI, . West Texas, Bank of Japan, Reserve Bank of Australia, Dow, Nasdaq Locations: Japan, Asia, Pacific, Bank of Japan, U.S

☆ Greenlight's David Einhorn sees 'higher secular inflation' in the years ahead
▼ + stars: | 2024-08-06 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Greenlight Capital's David Einhorn believes the outcome of the U.S. presidential election is insignificant to the markets, as he sees elevated inflation on the back of a burdening fiscal deficit under both candidates. "From a market perspective, we don't think it matters very much who wins," Einhorn wrote in a letter to investors dated Tuesday. We believe this supports our ongoing expectations of higher secular inflation in the coming years." Vice President Kamala Harris has entered the race following President Joe Biden's exit, going head to head with former President Donald Trump in the November election. The federal debt is now at $34.5 trillion , or about $11 trillion higher than where it stood in March 2020.

Persons: Greenlight Capital's David Einhorn, Einhorn, Kamala Harris, Joe Biden's, Donald Trump, Biden, — CNBC's Michael Bloom Organizations: U.S, Brighthouse, ODP Corporation, HP, Kyndryl Holdings, Consol Energy

☆ Where BlackRock's Rick Rieder sees income opportunity amid the market volatility
▼ + stars: | 2024-08-06 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

As investors search for income amid the market volatility, high-yield bonds are an attractive place to be, according to BlackRock's Rick Rieder. Meanwhile, credit spreads in corporate and high-yield bonds — which have been tight — are widening . Bonds rated BB+ and lower by Standard & Poor's and Fitch, as well as those rated Ba1 by Moody's, are considered high yield. Rieder also manages the BlackRock Flexible Income ETF , which has about 20% of its portfolio in high-yield credit, its second-largest sector holding. BINC YTD mountain BlackRock High Yield ETF year to date He has been reducing some exposure to investment grade bonds.

Persons: BlackRock's Rick Rieder, Stocks, Bonds, Fitch, Rieder Organizations: Dow Jones, Treasury, Poor's, Moody's, SEC, Federal Locations: BlackRock

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