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The move prompted Wall Street giants Barclays and Citi to adopt a more optimistic stance on global cyclical stocks. Barclays believes the Federal Reserve's actions are "clearly designed to pull out all the stops to achieve a soft landing" for the economy. Barclays strategists noted that "cyclicals typically rebounded steadily after the Fed started its rate cut cycle ... as long as it was not followed by a recession." Citi strategists share a similar outlook for European stocks. "The scale of the downgrades has become so extreme of late that we're now approaching a point where negative ERI may be a useful contrarian indicator," the Citi strategists said.
Persons: Emmanuel Cau, Beata Manthey, we're, Safran, Atlas, — CNBC's Michael Bloom Organizations: Federal Reserve, Wall Street, Barclays, Citi, Fed, Siemens, BBVA, ING, Holcim, ASM Locations: United States
Time has officially run out for House Republicans to impeach Biden before the election. Lawmakers took their last votes of the week on Wednesday and won't return until mid-November. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAfter nearly two years, the Republican effort to impeach President Joe Biden can be declared dead. While it's technically possible Republicans would attempt to impeach Biden in the final months of his presidency, it's highly unlikely.
Persons: Biden, Lawmakers, He's, , Joe Biden, it's, Kamala Harris, Donald Trump Organizations: House Republicans, Service, Republican, Business
As news of the Olivia Nuzzi-RFK Jr. scandal tore through media and government circles over the past week, with increasingly titillating details emerging, those inside the New York magazine fold began to wonder about their own fallout. In a note to readers, New York called it a "violation of the magazine's standards around conflicts of interest and disclosures." Nuzzi said in a statement to The New York Times that the relationship wasn't physical. She is currently on leave from the magazine, and the magazine is conducting a more thorough third-party review. AdvertisementNew York mag didn't say who was conducting the third-party review or what additional information it hoped to learn from it.
Persons: Olivia Nuzzi, she'd, Robert F, Kennedy Jr, Oliver Darcy, Kennedy, Nuzzi, Donald Trump, Kennedy didn't, wasn't, David Haskell, Vox, Brian Leung, Haskell, Haskell —, EIC Adam Moss, Tirhakah Love, Love, Corey Lewandowski's, Trump Organizations: Service, RFK Jr, New York, Washington, New York Times, Business, Media, Employees, Staff, Trump, Vox Media, Hollywood, Penske Media Locations: New York, Israel, , New York
But for two key reasons, these kinds of public proclamations don’t signal a broader demise of remote work benefits. Flex work options are too popular to ditchWhile an individual company may decide to backtrack on its remote work policies, the numbers suggest that’s not happening widely. Workplace consulting firm Gallup found in May that among full-time employees in remote-capable jobs, 53% work a hybrid schedule, 27% work exclusively remotely and 21% work on site. As of August 31, job postings on Indeed.com that specify hybrid and remote work have dipped a half percentage point year over year. It also found that HR leaders say hybrid work models help attract and retain talent.
Persons: Jamie Dimon, Andy Jassy’s, Jassy, , ’ ”, Chris Williams, , ” Williams, Gallup, Nick Bunker, it’s, Williams Organizations: CNN, JPMorgan Chase, Microsoft, Board Locations: , Seattle
Though mortgage rates are expected to continue trending down, it's unclear how much further they might drop. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 30-Year Mortgage Rates TodayAverage 30-year mortgage rates are hovering around 5.80% today, according to Zillow data. 15-Year Mortgage Rates TodayAverage 15-year mortgage rates are right around 5%, according to Zillow data. 5-Year Mortgage Rate TrendsHere's how 30-year and 15-year mortgage rates have trended over the last five years, according to Freddie Mac data.
Persons: you'll, they've, Freddie Mac, it's, They'll Organizations: Federal Reserve, Zillow, Fed Locations: U.S, Chevron
AdvertisementNow, he said, it's changing fast, driven by Lithuania's burgeoning tech startup scene. Tech Zity, an ambitious project a short walk from Cyber City, could help to turbocharge Lithuania's tech scene. Tech Zity is set to become Europe's biggest tech campus. Like Cyber City, Tech Zity is being developed on the site of a Soviet-era factory. Tech Zity, on the site of a Soviet-era sewing factory, is under construction, and it is set to become Europe's biggest tech campus.
Persons: , Joshua Nelken, Marijus, Vinted, Briedis, that's, Valdas Benkuskas, it's, Kipras Krasauskas, Krasauskas, gesturing Organizations: Service, Vilnius Old Town, Business, Cyber, Nord Security, Nord Security's, Security's, Soviet Union, Vilnius, BI, Tech, Kilo Health Locations: Vilnius Old, Soviet, Lithuania, Vilnius, Silicon Valley, Baltics, Central, Eastern Europe, Lithuanian, Berlin, London, Amsterdam, Cyber, Cyber City, European, City, Soviet Union
Madison, Wisconsin CNN —The mayor of a central Wisconsin city who ran for office on his opposition to absentee ballot drop boxes said Wednesday he did nothing wrong when he put on work gloves, donned a hard hat and used a dolly to cart away a drop box outside City Hall. Drop boxes were widely used in 2020, fueled by a dramatic increase in absentee voting due to the COVID-19 pandemic. Wausau, with about 40,000 people, was among the cities that did not use an absentee drop box in the August state primary. The Wausau drop box was under video surveillance but had not yet been bolted down. Wausau resident Pamela Bannister, speaking at a city council meeting Tuesday night, called for Diny to apologize and return the drop box.
Persons: Doug Diny, ” Diny, “ I’m, Donald Trump, Trump, Diny, Kaitlyn Bernarde, ” Bernarde, wouldn’t, he’s, , , Anne Jacobson, Pamela Bannister, ” Bannister Organizations: Wisconsin CNN, Wausau, City, Republican Party, Republican, Stanford, MIT, Republicans, The, The Wisconsin Supreme, Wisconsin Elections, City Hall, U.S, Election Locations: Madison, Wisconsin, Hall, Milwaukee County, Waukesha County, Dodge County, Milwaukee, The Wisconsin, Wausau, Marathon County, ” The Wisconsin, City
The rally in US stocks took a breather on Wednesday as traders looked ahead to coming economic data. Major indexes wobbled and bond yields were slightly higher. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Major stock averages pulled back slightly after notching a series of record-highs since last week's rate cut, while bond yields edged up slightly. "Traders will be curious to hear more thoughts on the rate cut and any guidance on further monetary policy easing."
Persons: , Powell, Hogan, Riley Wealth Organizations: Service, Federal Reserve, Treasury, Fed, US Treasury Market Conference, Federal
Read previewOpenAI stunned viewers when it showed off ChatGPT's Advanced Voice Mode at its Spring Update event in May. AdvertisementOpenAI will also release five new voices to Standard and Advanced Voice Mode in addition to the four already available. I've been trying out the alpha version of Advanced Voice Mode over the last couple of weeks, so here's what you can expect once you get access. Advanced Voice Mode also didn't give the thoroughness or detail that the text mode offers. ChatGPT's Advanced Voice Mode feels a world apart from Siri or other voice assistants, which don't offer smooth back-and-forth conversations or pick up on emotion.
Persons: , Scarlet Johanson — OpenAI, It'll, Edu, it's, I've, didn't, Siri Organizations: Service, Business, Enterprise, EU, American Locations: Switzerland, Iceland, Norway, Liechtenstein
A few days after Porter was found dead at home, Combs shared an emotional tribute on Instagram, which has since been deleted. Quincy, Christian, Jessie, and D'Lila defended their parents' relationship in an open letterKim Porter, Quincy Brown, Sean Combs, Christian Combs, and Justin Combs in 2015. Chelsea Lauren/Getty ImagesCombs' four children with Porter shared a joint statement on Wednesday, published by Essence. Quincy, Christian, Jessie, and D'Lila also requested privacy as they grapple with their mother's death and father's arrest. Christian is facing his own allegation of sexual assaultSean "Diddy" Combs and his son, Christian Combs, at the 2023 VMAs.
Persons: , Sean, Diddy, Combs, Kim Porter, Cassie Ventura, Porter, Quincy Taylor Brown, Christian Combs, Jessie James Combs, D'Lila Star Combs, Sean Combs, Jessie, Mat Szwajkos, Getty Combs, Chance Combs, wouldn't, Quincy, D'Lila, Quincy Brown, Justin Combs, Chelsea Lauren, Getty, Albert Joseph Brown III, Al B, Eugene Gologursky, Grace O'Marcaigh, O'Marcaigh, Christian, Aaron Dyer, Jacob Shamsian Organizations: Service, Business, Daily Mail, D'Lila, Angeles County Department of Medical Examiner, Essence ., Christian, MTV, BI Locations: Manhattan, Christian, Essence . Quincy, Quincy, Los Angeles
GM was lowered to underweight from equal weight, with the price target cut to $42 from $47. Additionally, Jonas lowered his rating on EV maker Rivian to equal weight from overweight, cutting his price target to $13 from $16. F GM 5D mountain F and GM fall Ford Motor shares have struggled in 2024, losing more than 10%. These headwinds, coupled with "peak earnings" and electric vehicle and regulatory risks, will also send GM shares lower. On Rivian, Jonas said, "The downgrade reflects our incorporation of the capital intensity of [autonomous vehicles] which may be required to fulfill the technological underpinnings that attracted Volkswagen as a JV partner."
Persons: Morgan Stanley's Adam Jonas, Ford, Jonas, Rivian Organizations: U.S, Ford Motor, General Motors, GM, Rivian, Ford, Volkswagen, Magna International, Federal Locations: China
Mortgage rates are expected to drop, which means that it might be a good time to buy a second home. There's no perfect time to buy a home, so I'm more concerned with whether it feels like a good time. So, while mortgage rates are expected to go down this year for primary homes, mortgage rates for second homes might not fall as equally. Still, the Fed rate cut is already impacting mortgage rates, which could benefit second-home mortgages, as well. Barring a big windfall of cash allowing you to buy something outright, there may never be a "perfect" time to buy a home.
Persons: Grams, I'm, Grams —, doesn't, Cheryl Lock Cheryl Lock, Read Organizations: USA, Forbes, MarketWatch, Twitter, LinkedIn Locations: Denver
Buenos Aires is seeing apartment rents down 40% and supply up over 170%, the WSJ reported this week. The controls limited annual rent increases, causing landlords to leave units empty or hike up initial lease prices. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Since last October, rents have fallen 40% and supply has skyrocketed over 170%, according to The Wall Street Journal.
Persons: Organizations: Service, Wall Street, Business Locations: Buenos Aires, Argentina
CNBC Daily Open: Some caution might be good for markets
  + stars: | 2024-09-25 | by ( Yeo Boon Ping | ) www.cnbc.com   time to read: +2 min
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. While analysts think this move may mark the end of China's deflationary streak, many think monetary policy is not enough. How much will oil demand grow? The International Energy Agency thinks oil demand will level off at 106 million barrels per day by the end of the decade.
Persons: Larry Hu, Consumer's, September's, Dow Organizations: CNBC, Dow Jones, U.S ., People's Bank of China, Macquarie, International Energy Agency, U.S, U.S . Federal, Barclays, Citi Locations: Corte Madera, Corte Madera , California, Asia, Pacific, China, U.S .
As Americans increasingly rely on Social Security and other retirement income to get by, high medical expenses could throw years of retirement planning out of balance. AdvertisementRetiring early to be his wife's caretakerPapalia had a goal to retire in 2015 at age 65 so he could receive Social Security benefits and have enough saved that money wouldn't be a huge issue. However, in 2010, he retired to care for his wife full-time, taking a buyout from his company that lasted until 2014. Marie's medical care was expensive, and they also cared for two dogs, both of whom had costly medical issues. Scraping by and making sacrificesPapalia receives $2,132 a month in Social Security before taxes and insurance and $1,900 from his pension, while Marie gets $1,113 a month from Social Security.
Persons: , Robert Papalia, Marie, They're, Papalia, they're, wouldn't, She's, they've, We're, it's, he's Organizations: Service, Business, BI, Social Security, Social, Security Locations: Burlington , New Jersey, New Jersey, Pennsylvania
Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe first big exception to Amazon's strict RTO policy is here. Twitch, the video streaming company Amazon acquired in 2014, will not be following the new RTO mandate, according to an internal email obtained by Business Insider. Twitch CEO Dan Clancy wrote in the email that the new changes in Amazon's RTO policy "do not apply to Twitch."
Persons: , Dan Clancy Organizations: Amazon, Service, Business, Twitch
Markets: The S & P 500 has slipped into the red since the Morning Meeting. By the way, since the Sept. 6 close, the S & P 500 jumped nearly 6%, closing at a record 5,732 on Tuesday. 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.
Persons: Jim Cramer, Salesforce, Meta, Dana her, it's, oversold, Mark Zuckerberg, Zuckerberg, Thursday's, Jim Cramer's, Jim Organizations: CNBC, ., Nasdaq, Nvidia, Meta, Microsoft, West Texas, Apple, Micron, Jefferies, Accenture, CarMax, Costco, Jim Cramer's Charitable Locations: China, Menlo Park , California
Investors should stay away from overvalued U.S. stocks in 2025, fund manager Sean Peche has cautioned. The value investor at Ranmore Fund Management told CNBC's Silvia Amaro on CNBC Pro Talks about where he sees undervalued stocks and opportunities, especially now the U.S. Federal Reserve has cut interest rates. Pesh highlighted his fund's holdings, including Carrefour , Petrobras , Alibaba , and Baidu as value plays. Peche, who set up Ranmore Fund Management in 2008, also shared some of the worst trades of the year, as well as his most successful yet. Since inception, the fund has gained 10.9% on an annualized basis, slightly more than the 10.6% posted by its MSCI benchmark.
Persons: Sean Peche, CNBC's Silvia Amaro, Pesh Organizations: Ranmore Fund Management, CNBC Pro, U.S . Federal, Carrefour, Petrobras, Alibaba, Baidu, Ranmore, Equity, ABN Amro, Ranmore Global Equity Fund Locations: overvalued U.S, Hong Kong, United States, Carrefour, China
Trade will work regardless Yet, reshoring is the one macroeconomic trade that will work no matter who wins the White House, according to Societe Generale. Last year, there were 287,000 reshoring and foreign direct investment job announcements, the second-highest year on record, according to the Reshoring Initiative . "One trade that has worked under both of the last two administrations is our US Reshoring 'beneficiary' equities," Kabra wrote. The company provides industrial automation products and services. The industrial conglomerate has a hand in a range of industries, including industrial automation solutions and building automation.
Persons: Donald Trump, Trump, Kamala Harris, John Deere, Harris, Dan Levy, Manish Kabra, Kabra, reshoring, Morgan Stanley, Blake Moret, Jill Carey Hall, Michael Feinger, Feinger, Peter Matt Organizations: Barclays, Societe Generale, Science, Generale's, China, Reshoring, Trump, Packaging Corporation of America, Cummins, Rockwell Automation, Honeywell, Bank of America, Eaton, Steel Dynamics, United Rentals, Commercial Metals Locations: United States, Mexico, China, U.S, reshoring, Midwest
The UK announced on Tuesday that it was sending 700 troops to Cyprus to prepare for a possible emergency evacuation of British citizens from Lebanon if one becomes necessary. The US State Department has also repeatedly warned US citizens to leave Lebanon while commercial travel options are still available. Secretary of State Antony Blinken said Wednesday that the US is “working tirelessly” on diplomatic efforts to prevent an “full-blown war” between Israel and Lebanon. A US official told CNN on Monday that “we are the closest we’ve been to spiraling to a regional war” since Hamas’ October 7 attack. Tehran has not intervened yet, but they will if they believe they are about to lose their most powerful proxy force, Hezbollah, the official added.
Persons: Pat Ryder, Yiannis Antoniou, , Keir Starmer, Israel, Antony Blinken, ” Blinken Organizations: CNN, Hezbollah, Pentagon, Reuters, British, US State Department, Ramat David, Wednesday, Israel Defense Forces, Gulf Cooperation Council, UN, Assembly Locations: Cyprus, Israel, Lebanon, Beirut, Ramat, Haifa, Tel Aviv, Gulf, New York, Iran, Tehran
Australian, New Zealand dollars scale new highs on China boost
  + stars: | 2024-09-25 | by ( ) www.cnbc.com   time to read: +3 min
An Australian one-hundred dollar banknote, top, and a New Zealand one-hundred dollar banknote are arranged for a photograph in Hong Kong, China, on Thursday, March 13, 2014. The Australian and New Zealand dollars scaled multi-month peaks on Wednesday while sterling hit its highest in more than two years against a weaker dollar, as China's aggressive stimulus package provided the latest shot in the arm for risk appetite. Data on Tuesday showed U.S. consumer confidence unexpectedly fell in September, amid mounting worries over the health of the labor market. Against a basket of currencies, the dollar last stood at 100.28, languishing near a more than one-year low of 100.21. The dollar index had fallen more than 0.5% in the previous session, its largest one-day percentage fall in a month.
Persons: Sterling, Carol Kong, Wells Organizations: New, Bank of, Federal Reserve, Commonwealth Bank of Australia, greenback, Markets Locations: Australian, New Zealand, Hong Kong, China, Bank of England, U.S, Wells Fargo
The stopgap spending bill, which will fund the government until December 20, will next be sent to President Joe Biden to be signed into law. Johnson had said that he believes Trump understands that House Republicans don’t have the votes to pass the SAVE Act. The House vote was 341 to 82 with 132 Republicans and 209 Democrats voting in favor and 82 Republicans voting against. As that internal contest nears, Johnson’s own leadership deputies are working to shore up their own relationships across the House GOP. In recent days, for instance, Emmer’s team gave personally engraved hockey sticks to several House Republicans that thanked them for their service to the chamber.
Persons: Joe Biden, Mike Johnson, Johnson, Donald Trump, Trump, Republicans don’t, , ” Rep, Don Bacon, , Kevin McCarthy, Republicans –, , Scott Perry, ” Johnson, It’d, Johnson’s, Tom Emmer, Emmer’s, Ted Barrett, Annie Grayer, Morgan Rimmer Organizations: Washington CNN —, Senate, SAVE, Republicans, GOP, , Republican, CNN, Democrats, Caucus, Pennsylvania Republican, Freedom Caucus, US, Service, Trump, House Republican Locations: Louisiana, Nebraska, Pennsylvania
Here we go again: Egg prices are spiking. Here’s why
  + stars: | 2024-09-25 | by ( Matt Egan | ) edition.cnn.com   time to read: +6 min
Egg prices spiked by 28.1% in August from 12 months ago, easily the biggest increase out of any food item tracked by the Bureau of Labor Statistics. The main culprit for rising egg prices is a familiar one: bird flu. Where egg prices are rising the mostStill, the current BLS average of $3.20 per dozen eggs remains high. Zooming in to focus on just the past year, Datasembly found that egg prices have increased the most in Hawaii (+49%), Minnesota (+44%) and Alabama (+38%). When egg prices spiked to record highs in early 2023, Cal-Maine’s profit skyrocketed 718%.
Persons: , Phil Lempert, they’ve, Price, Brian Moscogiuri, Datasembly, Moscogiuri, graf, ” Moscogiuri, Kevin Bergquist, Musharbash, Emily Metz, ” Metz, Lempert, Organizations: New, New York CNN, Bureau of Labor Statistics, Centers for Disease Control, Prevention, US Department of Agriculture, USDA, CNN, Shoppers, Food Institute, Farm, Maine Foods, Cal, Basel Musharbash, Monopoly, American Egg Board, SNAP Locations: New York, Minnesota, Missouri, Iowa, Oklahoma, Alabama, Hawaii, Wells, United States, Cal, Maine, Basel, Texas
But that information was not relayed to key Secret Service personnel who were interviewed by Senate investigators. The Senate report comes just days after the Secret Service released a five-page document summarizing the key conclusions of a yet-to-be-finalized Secret Service report on what went wrong, and ahead of a Thursday hearing that will be held by a bipartisan House task force investigating the shooting. "This was the result of multiple human failures of the Secret Service," said Kentucky Sen. Rand Paul, the top Republican on the panel. Investigators found that many of the people in charge denied that they had responsibility for planning or security failures, and deflected blame. Democrats and Republicans have disagreed on whether to give the Secret Service more money in the wake of its failures.
Persons: Donald Trump, Butler, Michigan Sen, Gary Peters, Peters, Thomas Matthew Crooks, Trump, rallygoer, Crooks, Anthony Guglielmi, Kentucky Sen, Rand Paul, Ronald Rowe Jr, Republican Sen, Ron Johnson of Organizations: Senate Homeland Security, Governmental Affairs Committee, Democratic, Service, Communications, Republican, Secret Service, Senate, Trump, Secret, Advance, United States Secret Service, Republicans Locations: Butler , Pennsylvania, U.S, Pennsylvania, Michigan, Trump's Florida, Kentucky, Ron Johnson of Wisconsin
However, finding the right makeup artist for your personal style and needs can be challenging. That's why it helps to know what to look out for when working with a makeup artist. For this reason, makeup artists should have a collection of single-use application tools, including lip and mascara wands, powder puffs, and sponges. Beware of makeup artists who aren't responsive or communicativeMcGinley warned against working with makeup artists who aren't punctual with their responses leading up to your services. A makeup artist should never ask the client to bring their own makeupMakeup artists should come prepared with a professional kit.
Persons: , Alyssa McGinley, " McGinley, Vasil Dimitrov, McGinley, Jazmin Sykes, Sykes, Vieriu Adrian, isn't, it's Organizations: Service, Business, Hollywood Locations: an Arizona
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