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A bulldozer moves coal that will be burned to generate electricity at the American Electric Power coal-fired power plant in Winfield, West Virginia. The U.S. currently maintains the largest nuclear fleet in the world with 94 operational reactors totaling about 100 gigawatts of power. The U.S. needs to add 200 gigawatts of nuclear, Goff told CNBC in an interview. "A lot of the data centers are coming in and saying they do need firm, 24/7, baseload clean electricity," Goff said. But restarting reactors in the U.S. will only provide a small fraction of the nuclear power that is needed, he said.
Persons: Mike Goff, Goff, Goldman Sachs Organizations: American Electric Power, of Nuclear Energy, Department of Energy, U.S, CNBC, Bank of America, Constellation Energy, Microsoft Locations: Winfield , West Virginia, U.S, New York City
These are the best credit cards for bad credit in 2024, according to Business Insider's team of credit card experts. Discover it Secured Credit Card ReviewBest for 1.5% Cash Back: Capital One Quicksilver Secured Cash Rewards Credit CardThe Capital One Quicksilver Secured Cash Rewards Credit Card is a secured credit card that earns a straightforward 1.5% cash back on all purchases with no limits. US Bank Altitude Go Secured Credit Card ReviewBest for Everyday Expenses: Bank of America® Customized Cash Rewards Secured Credit CardThe Bank of America® Customized Cash Rewards Secured Credit Card is another good option for maximizing your rewards earnings. Credit Cards for Bad Credit Frequently Asked QuestionsWhat are the main benefits of credit cards for bad credit? Upgrade to an unsecured credit card — Secured credit cards are meant to be a stepping stone to better financial products.
Persons: They're, it's, cardholders, you'll, Cardholders, Cash, you've, You'll, you’ve, it’s, Quicksilver, WebBank, , Holly Johnson Freelance, Holly Johnson, Johnson, Angela Fung, Read Organizations: Business Insider, U.S . Bank, Bank of America, Card, Bank, Bad Credit, Credit, Business, Quicksilver, . Bank, Cell, Sporting, EV, US Bank, Cash Plus, U.S, Go, The Bank of America, Gas, Drug, of America, Walmart, Visa, Discover, Capital, CreditWise, Rewards, Bank Cash, Go Visa, Cards, U.S . News, Club, Finance Locations: U.S, Capital, Chevron
Oil prices fell for a third day on Friday, on course to end the week lower, as investors focused on expectations of higher supplies from Libya and the broader OPEC+ group of oil exporters. Oil prices fell for a third day on Friday, on course to end the week lower, as investors focused on expectations of higher supplies from Libya and the broader OPEC+ group of oil exporters. "The big-ticket items on the markets radar this week have been Libya and OPEC+," analysts at FGE Energy told clients on Thursday. A media report on Wednesday claimed the previously announced reversal is due to Saudi Arabia's decision to abandon a $100 oil price target and gain market share, causing oil prices to slide by 3% in the previous session. Still, the report has set off renewed speculation about a battle for market share at a time that investor sentiment was already at record lows, FGE noted.
Persons: Brent, Daniel Hynes, FGE Organizations: OPEC, Brent, U.S, West Texas, FGE Energy, Central Bank of, ANZ Bank, Organization of Petroleum, Reuters, ICE Brent Locations: Libya, OPEC, Central Bank of Libya, Saudi, Saudi Arabia
Israeli politics swirl as Hezbollah conflict ramps up
  + stars: | 2024-09-27 | by ( Mick Krever | ) edition.cnn.com   time to read: +10 min
“It’ll take him months on end to train for the job,” said Gadi Eisenkot, a highly respected former Israeli military chief and member of the opposition. Policy and domestic politics are impossible to separate in any democracy, but especially in Netanyahu’s Israel – and especially now. Remarkably, Netanyahu held a security consultation on Wednesday but did not invite his defense minister, an Israeli official told CNN. Hezbollah says that it’s attacking Israel in solidarity with the Palestinian people in Gaza; Israel wants to get Hezbollah to stop firing even without a Gaza ceasefire and hostage deal. With both the Philadelphi Corridor and Hezbollah, Netanyahu’s critics have questioned why, if they were so critical, he waited months to raise the stakes over those issues.
Persons: Benjamin Netanyahu, Yoav Gallant, Gideon Sa’ar, “ It’ll, , Gadi Eisenkot, , Gallant, Netanyahu, Israel –, Itamar Ben, Gvir, Ben Gvir, Ben Gvir’s, Abir, ” Eyal Hulata, , , ” Gallant, Baz Ratner, it’s, ” Gilad Malach, Netanyahu’s, ” Malach, Damocles, Sa’ar, Bezalel Smotrich, Ammar Awad, Reuters Eisenkot, I’m, Gallant –, Malach, Michael Shemesh, Kan, ” Shemesh Organizations: Israel CNN, CNN, Reuters, Foundation for Defense of Democracies, IDF, Israel Defense Forces, Israel Democracy Institute, National Security, Finance, General Staff Locations: Tel Aviv, Israel, Lebanon, Gaza, United States, Abir Sultan, ” Lebanon, Egypt, Israeli, New York
Trade School: China exposure
  + stars: | 2024-09-27 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrade School: China exposureStephanie Link, CIO at Hightower, joins CNBC's "Halftime Report" to break down the China Trade and share some of the moves she's making in her portfolio.
Persons: Stephanie Link, Hightower Organizations: Email Trade, China Trade Locations: China
Brokerages have also jumped in on the action, with several companies dropping the rates they pay on sums held in cash sweep accounts. Charles Schwab recently trimmed its cash sweep rate to 20 basis points, where it was previously 45 basis points, according to an analysis by Bank of America. Wells Fargo also dropped rates by 3 basis points to 30 basis points, based on the level of clients' household assets. A few outliers still pay solid rates on idle cash Brokerages take different approaches toward cash sweeps, with some firms opting to keep rates low even when the Fed was hiking rates. Even as yields are expected to continue falling, a couple of brokerages continue to offer competitive rates, Bank of America found.
Persons: Marcus, Goldman Sachs, Wells, Michael Kaye, Charles Schwab, Wells Fargo, Robinhood, Ryan Salah, We've Organizations: Federal Reserve, Fed, Discover Financial, Bank of America, Wells, Advisors, Interactive, Robinhood, Capital Financial Partners Locations: Wells Fargo, Towson , Maryland
CNN —Archaeologists working in Peru, assisted by artificial intelligence, have discovered 303 previously unknown giant symbols carved in the Nazca Desert. A geoglyph of a humanoid with a headdress is one of the newly discovered symbols. Deciphering Nazca symbols’ purposeIt’s not clear why the Nazca people made the symbols. The bigger Nazca symbols were near networks of straight lines, squares and trapezoids etched into the earth. “Our findings suggest that their meaning is formed through their combinations,” he said, referring to the way the Nazca geoglyphs are grouped together.
Persons: headdresses, geoglyphs, , Masato Sakai, IBM’s Thomas J, , ” Sakai, Amina Jambajantsan, Jambajantsan wasn’t, ” Jambajantsan, Sakai Organizations: CNN —, Yamagata University Institute of, Japan’s Yamagata University, Watson Research, Yamagata University Institute of Nasca, Max Planck Institute of Geoanthropology’s Department of Archaeology Locations: Peru, Peru’s, Yorktown Heights , New York, , Jena , Germany, Mongolia
Apartment prices were slightly cheaper in September than in August as interest rates fell. AdvertisementRent inched lower in September as the unofficial moving season starts to wind down, but apartment prices are still near all-time highs. 14 affordable cities where rent is down meaningfullyNearly two-thirds of the nation's 100 biggest real-estate markets experienced either lower or flat rent in September, according to Zumper. However, only 14 cities have one-bedroom apartments that cost less than the national median of $1,533 and were at least 2% cheaper than last year. AdvertisementBelow are those 14 cities, along with their month-over-month and year-over-year rent changes, median rent prices, the monthly savings vs national median, and national rent ranking.
Persons: , Zumper, It's, Anthemos Georgiades Organizations: Service, Federal Reserve
U.S. crude oil on Friday was on pace for its first weekly loss in three weeks, as the prospect of growing oil supplies from Saudi Arabia overshadowed China's efforts to stimulate its economy. The U.S. benchmark West Texas Intermediate is down nearly 6% this week, while global benchmark Brent has pulled back nearly 4%. OPEC+ recently postponed planned output hikes from October to December, but analysts have speculated that the group might delay the hikes again because oil prices are so low. The oil selloff erased gains from earlier in the week after China unveiled a new round of economic stimulus measures. Soft demand in China has been weighing on the oil market for months.
Persons: there's, Dan Yergin, CNBC's, There's, Yergin Organizations: Texas, Brent, P Global, Oil Locations: Saudi Arabia, U.S, Israel, Lebanon, OPEC, China
Both the Dow Jones Industrial Average and S & P 500 have broken out to new highs this month. BTIG chief market technician Jonathan Krinsky asked this week, referring to the S & P 500. The S & P 500 had risen more than 5%, while the tech-heavy Nasdaq Composite was higher by more than 1%. For the S & P 500, those levels represent declines of about 6% to 9%, as of Thursday's close. Initial Claims (09/28) 9:45 a.m. PMI Composite final (September) 9:45 a.m. S & P PMI Services SA final (September) 10 a.m.
Persons: Jonathan Krinsky, Dow, Adam Turnquist, LPL Financial's Turnquist, Jeff Hirsch, he's bullish, Hirsch wouldn't, Lamb Weston, Nonfarm Payrolls, , Nick Wells Organizations: Federal, Dow Jones Industrial, Dow, CNBC, Nasdaq, LPL, Chicago PMI, Dallas Fed, PMI, Manufacturing, Nike, McCormick, ADP, PMI Services SA, Services PMI, Constellation Locations: Europe, U.S, Chicago
Why U.S. auto factories are so unproductive
  + stars: | 2024-09-27 | by ( Robert Ferris | In | ) www.cnbc.com   time to read: +2 min
A record 17.5 million cars sold in the U.S. in 2016, according to forecasting firm GlobalData. High prices are keeping customers away or sending them to used markets, said GlobalData's Global Vice President of Automotive Research Jeff Schuster. "We have all these plants that are ready to build 200,000 or 300,000 electric vehicles and nobody to buy them. For more than a century, nearly all cars ran on gasoline. Automakers were hoping for a clean jump to a world where all cars ran on batteries.
Persons: hasn't, Automotive Research Jeff Schuster, Sam Fiorani, I've, Michael Robinet Organizations: Global, Automotive Research, AutoForecast Solutions, P Global Mobility Locations: United States, U.S
Dalton, Georgia CNN —The face of a new era in American manufacturing is here, just off Interstate 75, tucked into this northwest corner of Georgia. That’s where you’ll find the Qcells plant that pumps out 32,000 solar panels a day and has a total panel production capacity of 5.1 gigawatts. They’re contributing back into the local community, paying taxes,” Nash said. The Qcells solar panel plant in Dalton, Georgia CNNTrump strikes a chordLocated in the congressional district represented by GOP firebrand Marjorie Taylor Greene, Dalton is Trump country. “You want to ask me that after November?” Nash, the Qcells plant manager, responded when asked about the future for the industry.
Persons: Dalton, , Lisa Nash, , didn’t, it’s, ” Nash, Biden, “ We’ve, Scott Moskowitz, Kamala Harris, Andi Rice, she’s, Kimberly Richardson, Harris, Richardson, Qcells, ” Richardson, Donald Trump, ” Kasey Carpenter, Dalton , Georgia CNN Trump, Marjorie Taylor Greene, ” Carpenter, Trump, George, Kasey Carpenter CNN, Brian Kemp –, can’t, Matt Santini, CNN's Phil Mattingly, “ It’s, ” Santini, Carpenter, , there’s, Mattingly, It’s, ‘ Don’t Organizations: Georgia CNN, CNN, Bloomberg, Getty, Republican, Dalton , Georgia CNN, GOP, Republican Gov, Biden, Trump, Oakwood Locations: Georgia, That’s, Dalton, Qcells, Dalton , Georgia, United States, Trump, Cartersville , Georgia, Atlanta
Instead, he plans to pay for college, a car, a down payment, and make business loans. Here's what I'm doing instead, and how I talk with them about money and wealth. Courtesy of George ApplingI believe it's bad to make your kids wealthyI don't want to leave my children money because I believe it's bad to make your children wealthy. If the kids need $20 to go to the trampoline park with friends, I'll usually pay. I let the kids make mistakes with moneyAll my kids work during the summer, and saved about $1,000 each last year.
Persons: George Appling, , Brian, I'm, it's, Rockefeller, they'd Organizations: Service, Harvard Business School, Nissan Pathfinder, Starbucks Locations: Sherwood
Lelian Chew is the founder of The Atelier & Co, a Singapore-based luxury wedding planning company. I spent a decade at Goldman Sachs, working in Singapore and Hong Kong managing key relationships by flying to a different Chinese city each day. English wasn't his first language, so he misunderstood and thought I was starting a wedding planning business. He immediately asked me to help plan his son's wedding, insisting I take a look since I knew the family well. Many of our elder clients want to see their grandchildren uphold customs they cherish, like family crests and cultural elements.
Persons: Chew, Chew doesn't, , Lelian Chew, Goldman Sachs, I, Lelian, it's Organizations: Service Locations: Singapore, Hong Kong, Indonesia, Maldives
CNN —Two climate activists in their early 20s were sentenced to prison by a London court Friday for throwing soup over Vincent Van Gogh’s “Sunflowers” painting during a protest against fossil fuels. Phoebe Plummer, 23, and Anna Holland, 22, from the protest group Just Stop Oil were imprisoned for two years, and 20 months, respectively, according to PA Media. 🚨 BREAKING: 2 VAN GOGH PAINTINGS SOUPED HOURS AFTER PHOEBE AND ANNA SENTENCED🥫 3 Just Stop Oil supporters have thrown soup over 2 of Van Gogh paintings in the 'Poets and Lovers' exhibition at the National Gallery. Hehir is the same judge who recently handed yearslong prison terms to five climate activists for their roles in disruptive protests. All were from Just Stop Oil or its allied group, Extinction Rebellion.
Persons: Vincent Van Gogh’s, Phoebe Plummer, Anna Holland, Van Gogh Organizations: CNN, PA Media, Oil, Gallery
Key Fed inflation gauge at 2.2% in August, lower than expected
  + stars: | 2024-09-27 | by ( Jeff Cox | ) www.cnbc.com   time to read: +2 min
Economists surveyed by Dow Jones had been expecting all-items PCE to rise 0.1% on the month and 2.3% from a year ago. Excluding food and energy, core PCE rose 0.1% in August and was up 2.7% from a year ago, the 12-month number 0.1 percentage point higher than July. "All quiet on the inflation front," said Chris Larkin, managing director of trading and investing at E-Trade from Morgan Stanley. Personal income increased 0.2% on the month while spending rose 0.2%. At their meeting last week, policymakers indicated a likelihood of another half percentage point in cuts this year then a full point in reductions for 2025, though markets expect a more aggressive path.
Persons: Dow Jones, Chris Larkin, Morgan Stanley Organizations: Commerce Department, Fed, Stock Locations: U.S
Volkswagen cuts 2024 outlook as car demand falters
  + stars: | 2024-09-27 | by ( ) www.cnbc.com   time to read: +2 min
A VW Golf GTI stands in a parking lot within sight of the brand tower on the grounds of the VW plant in Wolfsburg, Germany. Volkswagen cut its annual outlook for the second time in less than three months on Friday, citing a weaker-than-expected performance at its passenger car division as pressure on Europe's top automaker continues to rise. The lowered outlook is the latest from Germany's car giants, with Mercedes-Benz and BMW both downgrading their annual forecasts earlier this month as a result of weakening demand in China, the world's biggest car market. Volkswagen said it was cutting its outlook "in light of a challenging market environment and developments that have fallen short of original expectations, particularly at the brands Volkswagen Passenger Cars, Volkswagen Commercial Vehicles and Tech. Porsche, the holding company of the Porsche and Piech families that holds most of the voting rights in Volkswagen and is the carmaker's single biggest shareholder, also cut its own outlook in the wake of Volkswagen's downgrade.
Persons: IG Organizations: VW, Volkswagen, Mercedes, Benz, BMW, IG Metall, Volkswagen Commercial Vehicles, Porsche Locations: Wolfsburg, Germany, China
WeightWatchers' CEO of roughly two years, Sima Sistani, is out. AdvertisementIt's been a bumpy year for WW International, the company also known as WeightWatchers. In a leadership shake-up Friday, the weight-loss company announced CEO Sima Sistani is stepping down after roughly two years — effective immediately — and board member Tara Comonte is stepping up to serve as interim chief. Sistani helped push the company into the weight-loss drug space in 2023 through the $106 million acquisition of telehealth platform Sequence — which is now called WeightWatchers Clinic, and which prescribes weight-loss drugs like Ozempic and Wegovy. The telehealth purchase marked something of a pivot from the group support meetings and calorie-tracking menus WeightWatchers is known for, though the company also launched a behavioral program for patients on Ozempic.
Persons: WeightWatchers, Sima Sistani, , It's, Tara Comonte, Sima, Thilo Semmelbauer, Sistani, haven't, Comonte, Oprah Winfrey Organizations: Service, WW International, WeightWatchers, WeightWatchers Clinic, CNN, Life Sciences, Shake, Business, Smithsonian's National Museum of
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBofA's Savita Subramanian breaks down the areas on which investors should focusSavita Subramanian, BofA Securities head of U.S. equity and strategy, joins CNBC's 'Closing Bell' to discuss value stocks against growth, her playbook for the Fed's easing cycle, and more.
Persons: Subramanian Organizations: BofA Securities
The social-media giant held its big Meta Connect conference in Silicon Valley this week. Mark Zuckerberg is spending heavily on AI and AR technology. That effort continued into 2024 as the Meta CEO whittled down VP ranks and took more cost-cutting steps. Tech reporter Pranav Dixit attended and noticed that the WiFi password for the event was "effici3ncy." A post on Threads Pranav Dixit/ThreadsDixit posted about this on Threads and Zuckerberg liked the post.
Persons: Mark Zuckerberg, , Mark Zuckerberg's, bender, Zuckerberg, Pranav Dixit, Dixit, Mark Zuckerberg Pranav Dixit, Meta, didn't Organizations: Meta, Service, OpenAI, Microsoft, Google, Meta Connect, Silicon Valley . Tech Locations: Silicon, Silicon Valley
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She started a print-on-demand shop, using Canva software to create designs for Etsy-friendly products like T-shirts and candles. Last year, Odio-Sutton opened a second Etsy shop — selling downloadable event materials, like sign-up sheets and schedule templates — that's brought in $17,200 in sales so far in 2024. I'll batch design 10 candle labels one day, then make the listings for them on Etsy the next day. I follow what I'd call a template method: I do a lot of black-and-white designs, a lot of plain text. Then, if I have a template that sells really well, I'll just go in and swap in new words.
Persons: they've, Emily Odio, Sutton, She'd, She's, that's, , I'm Organizations: CNBC, Gold City Ventures Locations: Melbourne , Florida, Sutton, Odio, U.S
Gold, silver head for weekly gains on U.S. rate-cut momentum
  + stars: | 2024-09-27 | by ( ) www.cnbc.com   time to read: +2 min
Gold and silver prices retreated on Friday from record highs, but were positioned for weekly gains on growing anticipation of another bumper U.S. interest rate cut this year, as markets awaited a key inflation report for additional guidance. Gold and silver prices retreated on Friday from record highs, but were positioned for weekly gains on growing anticipation of another bumper U.S. interest rate cut this year, as markets awaited a key inflation report for additional guidance. Silver prices surged due to bullion's strong performance and China's stimulus measures, though some analysts warn that the rally may fade due to concerns over industrial demand. The Federal Reserve's larger-than-usual half-percentage-point reduction last week ignited a rally in gold, which hit consecutive record highs and has gained about 1.8% so far this week. Gold prices are currently supported by anticipated U.S. Fed interest rate cuts and China's stimulus measures, both of them are weakening the dollar, said Kyle Rodda, financial market analyst at Capital.com.
Persons: Kyle Rodda Organizations: FedWatch, U.S, BMI Locations: U.S
France's harmonized inflation rate fell sharply in September, preliminary data from the National Institute of Statistics and Economic Studies (Insee) showed Friday. Harmonized consumer prices in the euro zone's second-largest economy came in at 1.5% in September, down from 2.2% in August. The Harmonized Index of Consumer Prices (HICP) is adjusted for comparison with other euro zone countries. Altogether, Insee said that the September drop in consumer prices represents the sharpest monthly fall since 1990. Tobacco prices were expected to be virtually unchanged in September, compared to the previous month, Insee said.
Organizations: Eiffel, Paris, National Institute of Statistics, Economic Studies, Consumer, Reuters, European Central Bank, ECB, France's, Index, Olympic, Paralympic Games Locations: Paris, London
See more mortgage rates on Zillow Real Estate on ZillowWhat Are Today's Mortgage Refinance Rates? 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. Current 30-Year Mortgage RatesAverage 30-year mortgage rates are hovering around 5.80%, according to Zillow data. Mortgage rates are determined by a variety of different factors, including larger economic trends, Federal Reserve policy, your state's current mortgage rates, the type of loan you're getting, and your personal financial profile. But now that inflation has decelerated and the Fed is expected to cut rates soon, mortgage rates have trended down.
Persons: they've, Lawrence Yun, Freddie Mac, it's, Fannie Mae Organizations: Federal, National Association of Realtors, Zillow, Fed, Mortgage, Association, ARM, . Government Locations: Chevron, Government
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