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☆ North Korea says it tested new ballistic missiles with super-large warhead
▼ + stars: | 2024-09-19 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +3 min

SEOUL, South Korea — North Korea tested new tactical ballistic missiles using super-large warheads and modified cruise missiles on Wednesday as leader Kim Jong Un called for stronger conventional weapons and nuclear capabilities, state news agency KCNA reported. The account followed the firing of multiple short-range ballistic missiles on Wednesday reported by the South Korean military, which was the second time the North test-launched missiles in a week. Last week, North Korea also unveiled a uranium enrichment facility, in its first such public report. Wednesday’s tests involved the new tactical ballistic Hwasongpho-11-Da-4.5 missile, KCNA said, indicating it was part of a series of short-range ballistic missiles it had been developing. The allies say the drills are defensive in nature and aimed at maintaining readiness against any North Korean aggression.

Persons: Kim Jong, KCNA, Kim, ” KCNA, Shin Seung, Shin, ”, Kim Jong Un Organizations: South Korean, Korea Institute for Defense, Getty Images Kyiv Locations: SEOUL, South Korea, North Korea, South, Seoul . North Korea, Russia, Ukraine, North Korean, Moscow, Pyongyang, U.S

☆ What buying Commerzbank would mean for UniCredit — and the banking sector
▼ + stars: | 2024-09-19 | by ( April Roach | ) www.cnbc.com time to read: +7 min

Last week, UniCredit announced it had taken a 9% stake in Commerzbank, confirming that half of this shareholding was acquired from the government. Commerzbank shares jumped 20% on the day UniCredit's stake was announced. A cross-border styled merger between UniCredit and Commerzbank would be more preferential than a domestic merger between Deutsche Bank and Commerzbank, according to Reint Gropp, president of the Hall Institute for Economic Research. "The German banking structure is long overdue for a consolidation process. The German bank also has less excess capital than UniCredit and therefore "cannot really afford" a takeover, Alloatti said.

Persons: Kirill Kudryavtsev, UniCredit, Andrea Orcel, Commerzbank, Orcel, Ignacio Cerezo, Berenberg, David Benamou, Benamou, CNBC's, Arnaud Journois, Journois, Emmanuel Macron, Reint Gropp, Gropp, Filippo Alloatti, Hermes, Alloatti, We've Organizations: Afp, Getty, Bloomberg, Reuters, UniCredit, Wednesday, UBS, Investments, European, Morningstar, Commerzbank, Analysts, CNBC, Deutsche Bank, Hall Institute for Economic Research, Will Deutsche Bank, ABN Amro Locations: Frankfurt, Germany, Commerzbank, Berlin, Italian, U.S, Europe, UniCredit, Italy

☆ Darden Restaurants earnings disappoint as Olive Garden, fine dining sales struggle
▼ + stars: | 2024-09-19 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Darden Restaurants on Thursday reported weaker-than-expected quarterly earnings and revenue as sales weakened at Olive Garden and its fine dining restaurants. Net sales rose 1% to $2.76 billion, but the company's same-store sales declined 1.1% in the quarter. Darden's fine-dining segment, which includes Eddie V's and The Capital Grille, reported same-store sales declines of 6%. LongHorn Steakhouse was the company's only division to report same-store sales growth. The chain, a top performer in Darden's portfolio since the pandemic, saw same-store sales growth of 3.7%.

Persons: Rick Cardenas, Darden, Raj Vennam, Olive Garden's, Eddie V's, Ruth's Chris Steak, Chris Organizations: Darden, Olive, LSEG, LongHorn, Chuy's Holdings Locations: Olive, Chicago , Illinois, Tex

☆ FedEx quarterly profit disappoints as demand for speedy delivery wanes
▼ + stars: | 2024-09-19 | by ( ) www.cnbc.com time to read: +2 min

FedEx reported a steep quarterly profit drop and lowered its full-year revenue forecast on Thursday after its customers continued to trade down from speedy, pricey delivery to cheaper, slower options. Shares in the Memphis-based delivery giant tumbled almost 11% to $267.74 in after-hours trading, dragging shares in rival United Parcel Service down 2.5%. The shift to less-profitable packages is squeezing profits at FedEx and UPS. Subramaniam is leading a complex restructuring at FedEx that involves slashing billions of dollars in overheads and merging its separate Ground and Express delivery units. On an adjusted basis, profit fell to $3.60 per share from $4.55 per share a year ago.

Persons: Raj Subramaniam, Subramaniam Organizations: FedEx, United Parcel Service, UPS, Reuters, Federal, United States Postal Service, FedEx Freight Locations: Memphis, China, Shein, U.S

☆ Eldest-Daughter Syndrome Is Real; Big Sisters Do More, Studies Say
▼ + stars: | 2024-09-19 | by ( Kelli María Korducki | ) www.businessinsider.com time to read: +13 min

But there may be more of a science to eldest daughters than meets the eye. When a mother needed help, biology caused her eldest daughter to step up and mature faster to provide that help. Most striking of all, maternal distress was not found to speed up adrenal puberty in sons or younger daughters. "I have a closer relationship with her, to this day, than I do with many of my other older siblings," he said. His wife grew up as part of a similarly large brood — and her eldest sister had a similar experience.

Persons: Lisa Doucet, Albert didn't, Doucet, Albert, I'm, " Doucet, babysitters, they'd, Molly Fox, Fox, Pamela Jakiela, aren't, isn't, Jonathan Westover, Mary Poppins —, Westover, We're, —, Lenette Azzi, Lessing, Jakiela Organizations: University of California, Fox, Center for Global Development, Williams College, University of Essex, Child, Utah Valley University, Boston University, Child Welfare League of America Locations: Rhode Island, Providence, TikTok, Los Angeles, Kenya, Utah

Read previewNew details about Sean "Diddy" Combs' Miami mansion were uncovered as part of his bond hearing this week. The legal team also noted that Combs satisfied the $18.8 million mortgage on the Star Island home in August, anticipating criminal charges. AdvertisementOther homes on the island go for even more than the $48.5 million Combs' home was appraised at. Comparable sales listed in the appraisal report for Combs' Miami mansion. Besides the Star Island home, he owns a mansion in Los Angeles that he recently put on the market for $61.5 million.

Persons: —, Sean, Diddy, Combs, Marc Agnifilo, Agnifilo, David LEFRANC, Ken Griffin, Griffin, Alex Rodriguez, Gloria, Emilio Estefan, Forbes, Sean John, Andy Warhol, Jean, Michel Basquiat Organizations: Service, feds, Business, Miami, singer's, Research, Miami -, Star, Advanced Research, Bad Boy Records, Cîroc, Diageo, Combs Enterprise, Combs Locations: Miami, Miami - Dade, cabanas, Biscayne Bay, Miami Beach, Los Angeles

Clean energy and clean vehicle companies added nearly 150,000 new jobs in 2023, the first full year of the Inflation Reduction Act, the report found. Of that total, the South added more than 54,000 clean energy jobs, accounting for 36% of all new jobs in the region. By comparison, the Midwest, Northeast and West combined added 95,000 clean energy jobs in 2023. The employment sectors analyzed in E2’s “Clean Jobs America” report include clean vehicles, renewable energy, battery storage, grid modernization and biofuels. Clean energy jobs now account for about 1 in 16 new jobs created in the U.S.E2 has released annual reports on clean energy job growth in the U.S. since 2015.

Persons: Kamala Harris, —, Donald Trump, Harris, Biden, Bob Keefe, We’re, ” Organizations: Biden, Senate, Jobs America, Republicans Locations: United States, U.S, Midwest, Northeast, Southern, Alabama, Kentucky, Oklahoma, California, Florida, Texas

☆ University of Tennessee to raise season ticket prices 10% in anticipation of revenue sharing
▼ + stars: | 2024-09-18 | by ( Jake Piazza | In | ) www.cnbc.com time to read: +2 min

The University of Tennessee is raising its season ticket prices by 10% across all its sports to prepare for athletes to start to get a cut of the school's sports revenue, according to an email sent to football season ticket holders on Tuesday. Tennessee is calling its hike a "talent fee," and said it "will help fund the proposed revenue share for our student-athletes," according to the email. Athletic departments have been gearing up for revenue sharing after a proposed settlement involving three cases the NCAA is named in. "As the collegiate model changes, we have to remain flexible," Tennessee Athletic Director Danny White said in a video included in the email. Star athletes have been able to sign big endorsement deals, but universities have not started direct revenue sharing, which would benefit more student-athletes.

Persons: Nico Iamaleava, Danny White Organizations: Tennessee Volunteers, Duke's Mayo, NC State Wolfpack, Bank of America, The University of Tennessee, Athletic, NCAA, Power, Tennessee Athletic, College, Star Locations: Charlotte , North Carolina, . Tennessee, Tennessee, Sportico's

The process of building credit is often described as a catch-22, because you already need credit to get approved for credit products like a credit card. Fizz Credit Builder Debit Card OverviewFizz is a credit-building debit card that launched in January 2023. User Reviews and RatingsCustomer reviews of Fizz Credit Builder Debit Card are mostly positive. The Fizz Credit Builder Debit Card debit card operates on the Mastercard's network. How to Get a Fizz CardTo get the Fizz Credit Builder Debit Card , you need to download the Fizz app from the Apple app store or the Google Play store.

Persons: Read, —, Fizz's Organizations: Patriot Bank, Google, Apple, Mastercard, Social Locations: Chevron

☆ The Fed goes big — a nice jumpstart to lowering mortgage rates and boosting housing plays
▼ + stars: | 2024-09-18 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

The Fed was widely expected to lower short-term interest rates, but the 25 basis points versus 50 debate raged right up until the announcement. Mortgage rates: We talked last week during our September Monthly Meeting about how housing activity can start to pick up when mortgage rates fall off their cycle highs to somewhere in the range between 5% and 6.5%. However, what the data shows is how sensitive activity is to every dip in mortgage rates. 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, Jerome Powell, Stanley Black, Decker, Mortgage Banks, Jim Cramer's, Lisa Su, Oliver Garden, Jim Organizations: CNBC, ., Federal Reserve, Stanley, Mortgage, Micro, LongHorn, Darden, Jim Cramer's Charitable

☆ The North American airports that travelers find the most – and least – satisfying
▼ + stars: | 2024-09-18 | by ( Marnie Hunter | ) edition.cnn.com time to read: +7 min

And many North American air travelers are still enjoying their time at airports, according to the overall satisfaction scores in the 2024 North America Airport Satisfaction Study from J.D. In the large airport category, with 10 to 32.9 million passengers per year, John Wayne Airport in Orange County, California, is this year’s top scorer, followed by Tampa International Airport and Kansas City International Airport. Indianapolis International Airport ranks highest among medium airports with 4.5 to 9.9 million passengers per year, followed by Jacksonville International Airport and Southwest Florida International Airport. “The Airtrain isn’t complete and that makes accessing the terminals difficult.”Philadelphia International Airport ranks lowest in the large airport category. Matt Slocum/APIn the large airport category, Philadelphia International Airport ranks lowest.

☆ The Fed forecasts lowering rates by another half point before the year is out
▼ + stars: | 2024-09-18 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

U.S. Federal Reserve Chair Jerome Powell speaks during a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, U.S., July 31, 2024. The Federal Reserve projected lowering interest rates by another half point before the end of 2024, and the central bank has two more policy meetings to do so. Through 2025, the central bank forecasts interest rates landing at 3.4%, indicating another full percentage point in cuts. Through 2026, rates are expected to fall to 2.9% with another half-point reduction. The central bank lowered the federal funds rate to a range between 4.75%-5% on Wednesday, its first rate cut since the early days of the Covid pandemic.

Persons: Jerome Powell Organizations: Federal, Committee, Federal Reserve Locations: Washington , U.S

☆ It’s Fed decision day, and investors aren’t 100% sure what to expect
▼ + stars: | 2024-09-18 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Traders across Wall Street expect the Fed to lower rates, ending the tightening cycle that began in March 2022. That said, investors aren't sure how big the rate reduction will be. To be sure, it closed more than 30 points below the closing all-time high of 5,634.58 set in July. We tend to agree with that, but also think the setup for a 'false breakout' remains high," wrote Krinsky. Elsewhere on Wall Street this morning , Barclays upgraded VF Corp to overweight from equal weight.

Persons: Chris Murphy, Susquehanna, Jonathan Krinsky, It's, Adrienne Yih Organizations: Federal, Traders, Barclays, Corp

☆ Fed to cut rates by a quarter point with a soft landing expected, according to CNBC Fed Survey
▼ + stars: | 2024-09-17 | by ( Steve Liesman | ) www.cnbc.com time to read: +3 min

The survey shows 84% of the 27 respondents, including economists, fund managers and strategists, see the Fed cutting by a quarter percentage point, with 16% seeing a half-point decrease. That compares with 65% probability of a half-point cut now priced into fed futures markets. "That forecast is more in line with a hard landing than a soft landing." (One basis point equals 0.01%)Soft landing expectedThe major difference could be that survey respondents appear less worried about the economy overall than futures markets, and more convinced the Fed has time to enact gradual rate cuts. Seventy-four percent said the September rate cut comes in time to preserve a soft landing, with just 15% saying it's too late.

Persons: Jerome Powell, Andrew Harnik, John Donaldson, Barry Knapp, it's, Michael Englund, Guy LeBas, Janney Montgomery Scott Organizations: Federal Reserve, CNBC Fed Survey, CNBC, Haverford Trust Co, Ironsides, Fed

☆ Snap unveils latest AR glasses despite ongoing struggles in core ad business
▼ + stars: | 2024-09-17 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

Snap on Tuesday announced the fifth generation of its Spectacles augmented reality glasses that can overlay digital graphics onto the physical world. Snap's announcement comes days before rival Meta's Connect event, a conference where Facebook's parent typically unveils its latest hardware. Like Meta, Snap has been trying for years to break into consumer hardware. The previous day Meta reported better-than-expected quarterly results that sent the stock price up 7%. The company has yet to find meaningful success, but Wall Street has afforded Meta patience with Reality Labs because the company's advertising business is thriving.

Persons: Evan Spiegel, OpenAI, Meta's, Leo Gebbie Organizations: Snap Inc, Barker, Tuesday, Meta, Labs, Reality Labs, CCS Insight Locations: Santa Monica , California

☆ NFL Power Rankings Week 3: Cowboys, Ravens in trouble? Are Saints, Vikings for real?
▼ + stars: | 2024-09-17 | by ( Josh Kendall | ) www.nytimes.com time to read: +24 min

It’s Week 3 of the NFL Power Rankings, and Tennessee Titans coach Brian Callahan speaks for all of us. ETGO DEEPER NFL Week 2 takeaways: What Chiefs' latest survival shows, Ravens problems, Saints thrivingLast week: 3Thursday: Beat Miami Dolphins 31-10Week 1 was the Josh Allen Show — four touchdowns and 279 combined passing and rushing yards. Dallas Cowboys (1-1)Last week: 7Sunday: Lost to New Orleans Saints 44-19The roller-coaster ride of being a Cowboys fan never ends, does it? That’s been enough because the defense hasn’t allowed either opponent to top 90 yards rushing. Look for a heavy dose of De’Von Achane, who had 96 rushing yards and 69 receiving yards against the Bills, as long as he’s healthy.

Persons: Brian Callahan, Malik Willis, Wanya Morris, Travis Kelce, Morris, Kelce, Patrick Mahomes, He’s, Tom Brady, Roger Staubach, Josh Allen, Allen, BetMGM, Alvin Kamara, Sam Darnold's, shouldn’t, C.J ., Chris Godwin, Nic Antaya, Quarterback Baker Mayfield, Aidan Hutchinson, Khalil Mack’s, Jared Goff, Randy Moss, Justin Jefferson, Jefferson, Sam Darnold, it’s, Darnold, Brock Purdy, Deebo Samuel, Jordan Mason, Christian McCaffrey, San Francisco, Steve Young quarterbacked, Dobbins, Jim Harbaugh, DK Metcalf, Jaxon Smith, Kenneth Walker III, Walker, Geno Smith, Saquon Barkley hadn’t, Kirk Cousins, Josh Jacobs, Jordan Love, Dak, Dallas, CeeDee Lamb, Dallas pic.twitter.com, 2JC9Sidf35 —, Kyler Murray, Marvin Harrison Jr, Murray’s, enver B, ike T, aron R odgers, odgers, amar, ackson,, asser, orth, hase, rong, alf, eason, ong, olk, J r., roy T aormina, ike, ating, ake, ackers, hird, own., aguars, rian C, ade, ade Y ork, enver B roncos, hinks., iants, enver, ince, rian D Organizations: NFL, Tennessee Titans, National Football League, Vikings, 49ers, Raiders, Ravens, Buccaneers, Lions, Packers, Colts, New, New Orleans Saints, Cowboys, Bengals, Rams, Chargers, Saints, Seahawks, Beat Cincinnati Bengals, Kansas City, Chiefs, Falcons, Beat Miami Dolphins, Bills, Dolphins, Jaguars, Beat Dallas Cowboys, New Orleans ’, Philadelphia Eagles, Sam Darnold's Vikings, Beat Chicago Bears, Texans, Bears, Houston, Four Texans, Minnesota Vikings, Bucs, Tampa Bay Buccaneers, Beat Detroit Lions, Tampa Bay, Detroit, Denver Broncos, Detroit Lions, Arizona Cardinals, San Francisco 49ers, Houston Texans, Niners, Los Angeles Rams, Los Angeles Chargers, Beat Carolina Panthers, Panthers, Steelers, Pittsburgh Steelers, Seattle Seahawks, New England Patriots, Seattle, Miami Dolphins, Atlanta Falcons, Eagles, Green Bay Packers, Beat Indianapolis, Sunday, Green Bay, Dallas Cowboys, Cleveland, Dallas, Baltimore Ravens, T, 2JC9Sidf35 — Dallas Texas TV, MURRAY, FC, ards, ashington, eads, ams, ust, alton Locations: New Orleans, Buffalo, C.J, C.J . Stroud, Detroit, Tampa, San, Minnesota, J.K, Seattle, ards, ife, verall,

☆ Commercial property has been in a slump. How lower interest rates could lift it out.
▼ + stars: | 2024-09-17 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +8 min

Read previewUma Moriarity, a senior investment strategist at a real estate investment firm based outside of Philadelphia, is feeling better about deal-making in commercial real estate. A reduction in the Fed's benchmark rate would bring relief to the $22.5 trillion US commercial real estate market, which was shaken by a series of interest rate increases beginning in March 2022. AdvertisementThe increases diminished commercial property values, raised mortgage defaults, and triggered the sector's worst downturn since the financial crisis more than 15 years ago. "We're looking at a very good 2025 and beyond," Mark Rose, the CEO of the real estate services firm Avison Young, said. "Commercial property prices have increased over the past few months as bond yields have declined," Peter Rothemund, the co-head of strategic research at Green Street, said in the firm's recent property pricing report.

Persons: —, Uma Moriarity, Moriarty, Mark Rose, Avison Young, Richard Barkham, We've, Fitch, CMBS, Peter Rothemund, Alan Todd, Todd, CLO Organizations: Service, Federal Reserve, Business, CenterSquare Investment Management, Green, Mortgage, Association, Bank of America, Bank of America Securities Locations: Philadelphia, Trepp

☆ QMill, a Finnish quantum computing startup, just raised $4.5 million in seed funding with this pitch deck
▼ + stars: | 2024-09-17 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +1 min

QMill, a Finnish quantum computing startup, raised $4.5 million in seed funding. The startup was founded by Nokia Technologies' former CTO and a quantum computing professor. AdvertisementQMill, a newly launched quantum computing startup, has raised $4.5 million in seed funding. Based in Espoo, Finland, QMill was founded by a team that includes Nokia Technologies' former CTO, Hannu Kauppinen, and a quantum computing professor, Mikko Möttönen. Quantum computing has advanced significantly in recent years, but there are challenges slowing widespread adoption.

Persons: QMill, —, Hannu Kauppinen, Mikko Möttönen Organizations: Nokia Technologies, Service, Business Locations: Espoo, Finland

☆ Investors are pouring into this defensive corner of the stock market amid fears of an economic slowdown
▼ + stars: | 2024-09-17 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Analysts are increasingly recommending defensive stocks to blunt the impact of an economic slowdown. The S&P 500's consumer staples sector has risen more than 4% in the last month. AdvertisementAmid fears of a recession and increased market volatility, analysts have been pointing to defensive stocks as a safe bet to hedge macro risk. Among defensive sectors — which include things like real estate and financials — investors recently have been pouring into consumer staples in particular. With the Federal Reserve likely to finally cut rates at its meeting this week, defensive stocks could be poised for further growth.

Persons: —, Morgan Stanley's, Mike Wilson, Wilson, that's, Savita Subramanian, Subramanian Organizations: Service, Retailers, Walmart, Target, Bank of America, P Global Semiconductor, Financial Times, Bloomberg, Federal Reserve Locations: cyclicals

☆ These Mormon influencers turned their shocking scandal into a reality TV show. It's been good for business.
▼ + stars: | 2024-09-17 | by ( Palmer Haasch | ) www.businessinsider.com time to read: +10 min

She's also the star of a hit new reality TV series. "The Secret Lives of Mormon Wives," which premiered on Sept. 6, broke streaming records for Hulu, becoming its most-watched unscripted season premiere in 2024 so far. "The exposure, it's a different level," Paul says of reality TV fame. Disney/Natalie CassSubjecting yourself to reality TV editors can be risky — but if it works, it's great for businessPrior to "Mormon Wives," Neeley already had a business of her own: Babymama, a line of natal nutrition gummies. AdvertisementEven when it's chock-full of drama, the show has already been a boon for business, Neeley says.

Persons: TikToker Taylor Frankie Paul, Tate, Olivia Rodrigo's, Dakota Mortensen, She's, Paul, wrangled, swingers, sodas, Pepper, castmate, Neeley, Mortensen, Taylor Frankie Paul, Fred Hayes, —, she's, It's, Disney, Natalie Cass, it's, she'd, Whitney Leavitt, I've, Leavitt, we're Organizations: Service, Indy, Business, Hulu, Disney Locations: TikTok, Utah, New York City, New York, Salt Lake City

☆ Looking for tech stocks? CIO names 3 to buy — and says Nvidia is still 'reasonably valued'
▼ + stars: | 2024-09-17 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +5 min

Tech stocks may have had a volatile past few weeks , but one chief investment officer is still bullish. The chief investment officer believes Nvidia's stock is "reasonably valued," based on its two to three-year outlook. "We've been doing that, and we've been pretty happy with the price we've been getting," he added. Broadcom shares fell 7% in extended trading following its results announcement, but remain up close to 47.5% year-to-date. Nineteen of 33 analysts covering the stock give it a buy or overweight rating, according to FactSet data.

Persons: Jason Ware, Jensen Huang's, Ware, CNBC's, We've, we've, Oracle Corporation Ware, it's, Leswing, Jordan Novet Organizations: Microsoft, Nvidia, Oracle, Broadcom, Oracle Corporation, Apple, Tesla Locations: Albion

☆ The Fed is preparing to cut interest rates. How to revamp your fixed income investments
▼ + stars: | 2024-09-17 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +5 min

The Federal Reserve is widely expected to start cutting interest rates Wednesday afternoon. Those yields are expected to start coming down sharply as the Fed begins to ease back on generationally high rates. Adding some duration Duration refers to a bond's price sensitivity to changes in interest rates. A bond yield moves inversely to its price, so that when bond prices rise, yields decline. Though investors in the space may be concerned about prepayment risk, especially as interest rates come down and homeowners look to refinance, Cetera says that worry may already be priced in.

Persons: Kathy Jones, Tony Miano, Jones, Schwab's Jones, Gene Goldman, Goldman, James Shagawat, Shagawat Organizations: Federal Reserve, Treasury, Schwab Center, Financial Research, Wells, Wells Fargo Investment Institute, York Life Investments, Investment Management, Investors Locations: Wells Fargo, AdvicePeriod, Paramus , New Jersey

☆ CNBC Daily Open: The real question isn’t the Fed’s first cut, but where it goes after
▼ + stars: | 2024-09-16 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +4 min

CNBC's Sarah Min breaks down how a rate cut could affect the S&P 500 . Welcome to U.S. rate cut week! Furthermore, jumbo hikes of 75 basis points were enacted between June 2022 to November 2022. But given that the rate cut has been so clearly telegraphed by the Fed, it's hard to imagine it not happening. This cut might not be big in terms of basis points, but it will be big in what it signals to markets.

Persons: It's, Sarah Min, Donald Trump, Rafael Barros, Cat Stevens, Aditya Bhave, CNBC's Pia Singh, Hakyung Kim, Brian Evans Organizations: Eccles Federal Reserve, CNBC, U.S . Federal Reserve, China's National Bureau, Statistics, Republican, Federal Bureau of Investigation, Secret Service, U.S, Federal, Fed, Bank of America U.S Locations: Washington , DC, Florida, U.S

☆ 'Time is running out' for China to hit its growth targets, economist says
▼ + stars: | 2024-09-16 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +1 min

With no strong growth stimulus, it's unlikely China reaches its 5% GDP target, economist Yingrui Wang says. Wang warns that China could slip into a "yawning demand-deficient deflation trap" going into 2025. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWith new weak economic data and no clear sign of a stronger growth stimulus, China most likely won't reach its growth targets by year-end, AXA Investment Managers economist Yingrui Wang says. "Time is running out for China this year to achieve its growth targets, but also to avoid a more protracted slowdown," Wang wrote in a Monday note.

Persons: Yingrui Wang, Wang, — Organizations: Service, AXA Investment, Business Locations: China

☆ Apple leads tech sell-off after analyst warns of light iPhone 16 demand
▼ + stars: | 2024-09-16 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Apple shares were down 3% on Monday, leading a drop in the wider tech sector. The slide came after analyst Ming-Chi Kuo warned of light iPhone 16 demand. The lack of demand for the newest iPhone is likely because Apple has yet to roll out its most anticipated new feature, Apple Intelligence, Kuo said. Advertisement"One of the key factors for the lower-than-expected demand for the iPhone 16 Pro series is that the major selling point, Apple Intelligence, is not available at launch alongside the iPhone 16 release," Kuo said in a Sunday note. "In that case, I believe that Apple will implement more aggressive iPhone product strategies in 2025 to stimulate market demand," Kuo said.

Persons: Ming, Chi Kuo, —, TF International Securities analyst Ming, Kuo Organizations: Apple, Semiconductor, Nasdaq, Service, TF International Securities analyst, Apple Intelligence, Dow Jones, Micron, Broadcom, Inc, Taiwan Semiconductor Manufacturing Company

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