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☆ Dollar stands tall on bets for slower Fed cuts, potential Trump win
▼ + stars: | 2024-10-24 | by ( ) www.cnbc.com time to read: +3 min

The U.S. dollar traded close to a three-month high against major peers on Thursday, underpinned by expectations for a slower pace interest rate cuts by the Federal Reserve and growing bets of a possible second Donald Trump presidency. The U.S. dollar traded close to a three-month high against major peers on Thursday, underpinned by expectations for a slower pace interest rate cuts by the Federal Reserve and growing bets of a possible second Donald Trump presidency. This week, Kansas City Fed President Jeffrey Schmid said he would prefer to "avoid outsized moves", and Philadelphia Fed President Patrick Harker backed "a slow, methodical approach" to further easing. The dollar has now "punched through key technical resistance levels" against the yen, "opening the door for higher levels", Catril said. Although opinion polls indicate a neck-and-neck race with Democratic rival, Vice President Kamala Harris, cryptocurrency-prediction exchange Polymarket has seen a sharp rise in bets for a Trump win.

Persons: Donald Trump, Jeffrey Schmid, Patrick Harker, Rodrigo Catril, Catril, Trump, Kamala Harris, Christine Lagarde, Mario Centeno Organizations: U.S ., Federal Reserve, Kansas, Philadelphia Fed, Treasury, National Australia Bank, UST, Republican, Democratic, Trump, of, Traders, European Central Bank, Wednesday Locations: Japan, Sunday's

☆ 'You have to do the lowest job': How cleaning toilets prepared Dodgers' $700 million star Shohei Ohtani for World Series moment
▼ + stars: | 2024-10-24 | by ( Nicolas Vega | ) www.cnbc.com time to read: +1 min

There's no bigger stage in baseball than a World Series between the New York Yankees and the Los Angeles Dodgers, and there's no bigger star than Japanese slugger Shohei Ohtani. The 30-year-old's ability to hit mammoth home runs, pitch over 100 mph and steal bases with ease got him a $700 million contract from the Dodgers this past offseason. But despite his on-field exploits, the 30-year-old is also known for being one of the most humble players in the league. It's an approach that was instilled in him when he was just a promising high school athlete. For the players, who dormed at the school during the season, this included being assigned chores.

Persons: Shohei Ohtani, Ohtani, Hiroshi Sasaki, Jeff Fletcher's, Sasaki Organizations: New York Yankees, Los Angeles Dodgers, Dodgers, Hanamaki Higashi High School, LA Times

☆ Conflicting economic signals are causing confusion in the bond market
▼ + stars: | 2024-10-24 | by ( ) www.cnbc.com time to read: +5 min

Bond market investors are having trouble figuring out an economy that looks good from 30,000 feet, but less so closer to the ground. Whether it's payrolls, gross domestic product or retail sales, or a host of other measures, growth looks solid, at the very least. On Wall Street, the general view was of concern: The Beige Book "showed no material improvement in a generally bleak outlook," Citigroup economist Andrew Hollenhorst wrote. However, if growth deteriorates, as the Beige Book indicates it has, that likely would push the Fed towards more reductions. "Despite recent stronger-than-expected data on U.S. employment, retail sales, and consumer inflation, the Fed's latest Beige Book signals a still weakening economy."

Persons: it's, Goldman Sachs, Donald Trump, Goldman, Andrew Hollenhorst, Kathy Bostjancic, Peter Boockvar, Jerome Powell, Nicholas Colas Organizations: Treasury, Federal Reserve, Atlanta Fed, Fed, Citigroup, Nationwide, Bleakley Financial, DataTrek

Ashley Brundage is one of two out transgender candidates running for a seat in the Florida House of Representatives. NBC News spoke with seven transgender candidates who are running for seats in state legislatures nationwide about what they hope to accomplish if they are elected. Courtesy Lisa Middleton CampaignA steady riseAt least 18 out trans candidates are running for seats in state legislatures this election cycle, according to the LGBTQ Victory Fund, a super PAC focused on electing LGBTQ candidates. They are running against a national political backdrop in which trans people have come to play an outsized role. Trans candidates’ presence on ballots has only continued to rise since 2017, when Virginia’s Danica Roem became the first out trans person elected to a state legislature.

Persons: Ashley Brundage, Ron DeSantis, Brundage, DeSantis, she’d, DeSantis —, —, ” Brundage, ”, Lisa Middleton, Donald Trump, Gabriele Magni, ” Trump, Magni, there’s, Virginia’s Danica Roem, hasn’t, Sarah McBride, Sean Meloy, McBride, Nathan Bruemmer, Middleton, it’s, “, Kim Coco Iwamoto, Lorna Woo, Veronica Pejril, Pejril, Wick Thomas, ” Thomas, Transphobia, ‘, ” Iwamoto, Thomas, they’ve, Babe Pejril, It’s, ” Pejril Organizations: Republican, NBC, Democratic, City Council, Victory Fund, Pew Research, Loyola Marymount University, LGBTQ Victory Institute, Delaware Senate, Democrat, Florida Legislature, Florida Department of Agriculture, Consumer Services, Indiana Senate, Missouri, NBC News, Gun Safety Locations: Florida, California, Palm Springs, Calif, Los Angeles, Delaware, Tampa, Hawaii, Indiana, Greencastle, Council

☆ Global public debt will hit $100 trillion by year-end, says IMF
▼ + stars: | 2024-10-23 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +2 min

Global public debt will rise above $100 trillion by the end of 2024, the agency projected in its annual Fiscal Monitor report. By the end of the decade, the IMF forecasts global public debt will reach 100% of world GDP. The U.S. and China account for a significant share of rising public debt levels. If the two countries were excluded from calculations, the global public debt to GDP ratio would fall around 20%, the IMF said. Unsustainable debt levels place countries' markets at risk of a sudden sell-off if investors view a country's fiscal health as too poor.

Persons: Vitor Gaspar, shutdowns, spending's Organizations: International Monetary Fund, Monetary Fund, Global, U.S . Treasury Department Locations: Washington , DC, U.S, China, Saharan Africa

☆ Here's why Goldman Sachs' gloomy 10-year stock market forecast is no reason panic
▼ + stars: | 2024-10-22 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

The first line of the note reads: "We estimate the S & P 500 will deliver an annualized nominal total return of 3% during the next 10 years." For starters, nobody knows what the coming decade has in store for the S & P 500. Valuation: Yes, the S & P 500 is currently trading at a historically high multiple. Going out on a limb and making market calls or calls about individual stocks is not for the faint of heart. The S & P 500 has more than doubled since then, advancing about 135%, which amounts to that roughly 13% annual return that Kostin mentioned in his note.

Persons: David Kostin, Kostin, Goldman, it's, Jim Cramer, Stanley Black, Decker, That's, Jim, It's, Goldman Sachs, we're, Jim Cramer's, Brendan McDermid Organizations: Goldman, Goldman Sachs Chief U.S, Equity, Treasury, Nvidia, Federal Reserve, U.S, Jim Cramer's Charitable, CNBC, New York Stock Exchange Locations: Goldman Sachs, U.S, Wells

☆ Bank stocks are trouncing the market in October on Trump optimism
▼ + stars: | 2024-10-21 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Bank stocks have outperformed in recent weeks as investors see an improved regulatory environment if former President Donald Trump returns to the White House, according to Bank of America. The Invesco KBW Bank ETF (KBWB) , which tracks the KBW Bank Index, has climbed more than 6% since the start of October. By comparison, the S & P 500 has added less than 2% during the same period. "A Republican win would likely be viewed most positive for bank stocks in terms of returning to balance the regulatory environment." Either a Trump win with a split government or a Republican sweep would be seen as bullish for this group of stocks, Poonawala said.

Persons: Donald Trump, Ebrahim Poonawala, Trump, Poonawala, Kamala Harris, Harris, October's Organizations: White, Bank of America, KBW Bank, Republican, Department of Justice, Consumer Financial Protection Bureau, Citigroup, TD Bank, New York Community, Trump . Bank, Trump, Justice Department Locations: Wells Fargo

☆ US election looms over NATO discussions to Trump-proof Ukraine aid
▼ + stars: | 2024-10-18 | by ( Natasha Bertrand | ) edition.cnn.com time to read: +7 min

NATO officials say they are preparing for the US to take on a lesser role. “I’m very worried,” the NATO official said. But that mechanism, known as NATO Security Assistance and Training for Ukraine, is not yet fully operational and won’t be for several more months, another NATO official said on Friday. Russia alone is producing around 3 million munitions per year, while NATO collectively is producing less than 2 million annually, NATO officials said on Thursday. NATO Secretary General Mark Rutte said on Thursday that he was confident the alliance “will not lose” its unity when it comes to Ukraine.

Persons: Donald Trump, Defense Lloyd Austin, Volodymyr Zelensky, ”, Joe Biden, Austin, Trump, Biden, James O’Brien, O’Brien, “, ” Austin, Russia It’s, Mark Rutte, Vladimir, Putin Organizations: Brussels CNN, NATO, Defense, Ukraine, Trump, ”, NATO Security Assistance, Training, State, Eurasian Locations: Brussels, Ukraine, Iran, North Korea, China, Russia, ”, Europe, NATO, EU, Hungary, Riga, ” North Korea, Moscow, Korea, Kyiv, “

Three days after the storm, Jones and his wife managed to hike up to his elderly mother-in-law’s house by wading through mud up to their knees. Donations pile up at Minneapolis Baptist Church in Newland, N.C., on Wednesday, after its fellowship hall was damaged by Hurricane Helene’s remnants. Helene’s crushing aftermath is colliding with another political storm Thursday as in-person early voting begins in North Carolina, one of several battlegrounds expected to play outsized roles in the election. In addition to the presidential race, voters in North Carolina will also decide on their controversial race for governor and contests for attorney general and state school superintendent. “There’s simply nothing left in some of the areas,” said Patrick Gannon, the public Information director for the North Carolina Board of Elections.

Persons: NEWLAND, we’ve, ”, Larry Jones, Hurricane Helene, Jones, Gabe Gutierrez, It’s, There’s, Patrick Gannon, “, ” Jones Organizations: Minneapolis Baptist Church, NBC, North Carolina Board Locations: N.C, Minneapolis, Avery County, Newland, North Carolina, Asheville

☆ JPMorgan says buy these power producers on the 'paradigm shift' in electricity demand from AI data centers
▼ + stars: | 2024-10-17 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

Independent power producers Vistra , Constellation Energy and Talen Energy are positioned to benefit from a "paradigm shift" in electric demand from artificial intelligence data centers, according JPMorgan. "We see structural tailwinds, including manufacturing onshoring, broader electrification trends (transportation, heating, and more), as well [as] data center development underpinning a paradigm shift in power demand," Tonet and his team told clients in research report. Demand from tech companies for carbon-free power to drive their data centers will transform nuclear power and enable its owners to "command a substantial premium," they wrote. CEG 1Y mountain Constellation Energy shares over the past 12 months. TLN 1Y mountain Talen Energy stock over the past year

Persons: Jeremy Tonet, Tonet, Vistra Organizations: Constellation Energy, Talen, JPMorgan, Lone Star State, VST, Microsoft, Constellation, Amazon Web Services, Susquehanna, Energy Locations: Wednesday's, Texas, Pennsylvania

☆ CNBC's Inside India newsletter: The changing face of India's rich
▼ + stars: | 2024-10-17 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +8 min

Speaking to CNBC's Inside India, Kohli noted that India's wealthy now come from a swathe of industries. India's stock market became the fourth-largest in the world at the start of the year, after overtaking Hong Kong. Meanwhile, those whose wealth that falls between 10 to 50 million Indian rupees are in the affluent category, he added. Historically, India's wealthy had a median age exceeding 50. Drivers of India's wealthThe growth in India's wealthy population comes in tandem with the nation's economic progress.

Persons: Ratan Tata, Waterfield, Ratan Tata —, Ambani, Himanshu Kohli, Kohli, Pramod Gubbi, Marcellus, Lee, Gubbi, Knight Frank, What's, Malcolm Dorson, Dorson Organizations: Tata Group, Fortune India, Tata Sons, Tata Steel, Tata Consultancy Services, Tata Motors, Titan Company, Marcellus Investment, Lee Kuan Yew, of Public, National University of Singapore, Bombay Stock Exchange, Global, Volvo, Apollo Locations: India, Tata, CNBC's, Hong Kong, Pune, Hyderabad, Ahmedabad, Chennai, U.S

☆ How Blackstone made 18,000 workers owners of their HVAC company
▼ + stars: | 2024-10-17 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +11 min

Earlier this year, Blackstone rolled out an ownership plan for employees of HVAC company Copeland. The newest rage in private equity seeks to flip that model on its head by offering employees equity on top of their regular salaries. Success in private equity is often evaluated by how much money a deal generates compared to the initial investment. Joe Baratta, global head of private equity at Blackstone BlackstoneAcross the industry, high interest rates have squeezed returns and exit opportunities. KKR's global cohead of private equity, Pete Stavros, also helped found the nonprofit Organizing Works to encourage the adoption of this model across the private equity industry and beyond.

Persons: Blackstone, Copeland, Here's, —, Ross Shuster, Shuster, Stuart Dalgleish, Joe Baratta, Dalgleish, we've, Copeland's Shuster, outsized, Pete Stavros, KKR's Stavros, NPR's, Ted, Stavros, Josh Ryan, Leonard Green, Axel Springer Organizations: Service, Business, Blackstone, Emerson Climate Technology, Blackstone ., BI, Human, Emerson Electric, Employees, Merlin Entertainment, Blackstone Blackstone, KKR, CHI, NPR, GeoStabilization, Leonard Green & Partners Locations: New York City, Manhattan

☆ Don't get blinded by the Fed rate cut trade and the signs of life in small cap stocks
▼ + stars: | 2024-10-17 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

With the Federal Reserve now cutting interest rates, investors are looking for stocks that can be super-charged by lower borrowing costs. Small and medium-sized companies tend to be the most closely affected by the direction of the economy and rates. Outflows were seen solely in large caps; small and mid-caps saw inflows." If money does keep flowing into small caps, will it come at the expense of large caps? .SPX mountain 2022-10-01 S & P 500 since Oct. 1, 2022 That said, if the move into the smaller caps stocks continues, we may start to see more competition for capital.

Persons: Russell, that's, it's, Stanley Black, Decker, Jim Cramer, Jensen Huang, Morgan Stanley's, We're, Canaccord Genuity, pare, Jim Cramer's, Jim, Michael Nagle Organizations: Federal Reserve, BMO Capital Markets, Bank of America, Nvidia, CNBC, Blackwell, Taiwan Semiconductor Manufacturing Company, Devices, Broadcom, Apple Intelligence, Apple, Microsoft, Presidential, Jim Cramer's Charitable, New York Stock Exchange, Bloomberg, Getty Locations: U.S

☆ Aussie hit by China stimulus scepticism; US dollar firm on Fed outlook
▼ + stars: | 2024-10-16 | by ( ) www.cnbc.com time to read: +3 min

The Aussie dropped as much as 0.51% to $0.6669, the lowest since Sept. 12, before changing hands down 0.38% at $0.6678 as of 0133 GMT. The New Zealand dollar sank as much as 0.69% to $0.6041, a level last seen on Aug. 19. China will hold a press conference on Thursday to discuss promoting the "steady and healthy" development of the property sector. The dollar was little changed at 149.135 yen , not far from Monday's high of 149.98 yen, the strongest since Aug. 1. The euro edged 0.05% lower to $1.08875, and earlier touched $1.0882, matching the low from Tuesday, which was the weakest level since Aug. 8.

Persons: There's, Ray Attrill, there's, Attrill Organizations: New Zealand, National Australia Bank, Statistics, U.S, Traders, Fed, European Central Bank Locations: New Zealand, Beijing, China, Statistics New Zealand

☆ Watch out. Analysts have been cutting earnings estimates on these stocks reporting next week
▼ + stars: | 2024-10-16 | by ( Pia Singh | In | ) www.cnbc.com time to read: +3 min

Wall Street has been lowering its third-quarter growth estimates for months now. That's not abnormal, however, as third-quarter growth estimates tend to decline in the preceding months. Nearly 10% of S & P 500 companies have already reported results, with more than 79% beating earnings estimates, according to FactSet. Analysts' estimates for earnings per share have been cut by 80.3% over the past three months and 85% over the past six months. Analysts have cut their earnings per share estimates on Tesla by 24.1% over the past three months and 30.8% over the past six months.

Persons: That's, Morgan Stanley, Joe Laetsch, Laetsch, FactSet, Christopher Dendrinos, Dendrinos, Tesla, Wells Fargo Organizations: CNBC Pro, Valero Energy, Wall Street, Valero, RBC Capital Markets, Tesla Locations: U.S, Wells

☆ A La Niña winter is coming. Here’s what that could mean for the US
▼ + stars: | 2024-10-15 | by ( Mary Gilbert | ) edition.cnn.com time to read: +5 min

La Niña isn’t here yet, but has a 60% chance of emerging through November, according to the Climate Prediction Center. While it’s still unclear just how strong La Niña will get, current forecasts favor a weaker one. That outlook could be change when the center releases its latest forecast on Thursday based on trends toward a weaker La Niña. CNN WeatherThis is due to the behavior of the jet stream — essentially a river of air that storms flow through — which often shifts north during a La Niña winter. La Niña had a hand in the extremely wet winter much of the state endured from December 2022 to February 2023 and during the wet winter before that.

Persons: it’s, El Niño, El, Niño, Emily Becker, ” Becker, Niña, It’s Organizations: CNN, El, Northern, La, University of Miami, Dakotas, Niña Locations: United States, Northeast, Midwest, Pacific Northwest, East Coast, Plains, Northern California, Southern California

☆ Wall Street’s been on a two-year tear. Can the party last?
▼ + stars: | 2024-10-15 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

New York CNN —Wall Street traders are popping champagne and toasting the two-year anniversary of a period of outsized gains known as a bull market. What makes this bull market unusual is how much uncertainty and economic worry investors have had to contend with during its run. Historically, bull markets recover around 194% of the previous downturn, according to Sam Stovall, chief investment strategist at CFRA. While the first two years of a bull market often see significant gains, history shows that the third year can bring challenges, said Stovall. On average, bull markets entering their third year post a modest return of just 2%.

Persons: Stocks, Sam Stovall, Adam Turnquist, Quincy Krosby, “, Stovall Organizations: New, New York CNN, Wall, LPL, LPL Financial, Federal Locations: New York, Europe, East

☆ Nvidia heads for record close as AI chipmaker's market cap tops $3.4 trillion
▼ + stars: | 2024-10-14 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Jensen Huang, co-founder and chief executive officer of Nvidia Corp., speaks during an event in Taipei, Taiwan, on Sunday, June 2, 2024. Nvidia shares headed for a record close on Monday as Wall Street gears up for earnings season and updates from all of the chipmaker's top customers on their planned spending on artificial intelligence infrastructure. Companies including Microsoft , Meta , Google , and Amazon are purchasing Nvidia GPUs in large quantities to build increasingly large clusters of computers for their advanced AI work. With a market cap of $3.4 trillion, Nvidia is the second most valuable publicly traded U.S. company, behind Apple at about $3.53 trillion. WATCH: Nvidia CEO Jensen Huang on Squawk Box

Persons: Jensen Huang, ChatGPT Organizations: Nvidia Corp, Nvidia, Companies, Microsoft, Meta, Google, Mizuho, U.S, Apple Locations: Taipei, Taiwan

☆ Earnings playbook: The first big week of the season includes reports from Netflix and big banks
▼ + stars: | 2024-10-13 | by ( Fred Imbert | ) www.cnbc.com time to read: +6 min

Last quarter: Bank of America jumped after saying a rebound in net interest income was coming . What history shows: Bank of America shares have risen in 10 of the last 12 earnings days, according to Bespoke Investment Group. What history shows: Netflix tends to struggle on earnings days, averaging a slight decline, according to Bespoke. Shares have also fallen in two of the last three earnings days, including a 9.1% drop in April. What history shows: Bespoke data shows Procter & Gamble beats earnings expectations 85% of the time.

Persons: Goldman Sachs, Wells, Hugh Son, Goldman, Leslie Josephs, Wednesday Morgan Stanley, Morgan Stanley, Bryan Kraft, Kraft, Procter & Gamble, Procter, Lauren Lieberman Organizations: Netflix, Procter, Gamble, Big, Bank of America, JPMorgan Chase, BlackRock, Tuesday Bank of America, CNBC, Investment, LSEG, JPMorgan, United Airlines, U.S, Delta, Wednesday, Deutsche Bank, Procter &, Barclays Locations: Wells Fargo, U.S, China

Trump’s campaign also expects to draw huge, raucous crowds, and command outsized media attention – which would pay dividends across the political map. It’s the same reason Trump’s campaign has had the former president sit down with popular YouTube streamers and podcasters. Harris’ campaign has employed a similar strategy in recent weeks, targeting specific groups of voters with her appearances on podcasts and other interviews. Coachella rallyTrump’s rally Saturday at the Calhoun Ranch in the Coachella Valley drew criticism from a number of local officials. Still, the main strategic purpose of those trips is to hit Democrats on issues Trump’s campaign sees as its strongest, including crime and border security.

Persons: Donald Trump’s, Kamala Harris, Trump, Harris, John Kobylt, sideshows, ” Trump, Kobylt, Trump’s, Harris ’, Steven Cheung, ”, –, “, Adin Ross, Steven Hernandez, ” Hernandez, “ Trump, ’, he’ll, Jared Polis, ” Colorado Sen, Michael Bennet, CNN’s Jake Tapper, ” Bennet Organizations: CNN, Trump, Republicans, Republican, Democratic, Coachella, Bloomberg News, Economic, of Chicago, New York –, Madison, Garden, State, AK Locations: Coachella, York’s, California, Southern California, New York, Detroit, Madison, Aurora , Colorado, Chicago , New York, Illinois, Bronx, Long, Manhattan, Aurora, Colorado, American

☆ Hurricane Milton influencers brought in millions of views and a horde of new followers
▼ + stars: | 2024-10-11 | by ( Sophia Pargas | Sophia Pargas Is A News Associate For Nbc News. | ) www.nbcnews.com time to read: +7 min

“I just don’t want to drive back up to Atlanta and leave for each hurricane,” Sam Hunter, a Tampa-based digital marketer, told NBC NEWS. Both Meta and TikTok declined to comment on the surge in such hurricane content. Videos on Hunter’s page — which showcase hurricane prep, landfall and aftermath — have amassed millions of views. While his account currently focuses solely on Hurricane Milton, Hunter plans to experiment with new content and see what sticks. “Some people take this stuff as a joke,” Corujo told NBC News, noting that many may see the hurricane as an opportunity to gain views.

Persons: Milton, “, Sam Hunter, I’ll, TikTok, Ian, —, Dan ” —, Joseph Malinowski, Ross, Malinowski, Hunter, Hurricane Milton, ”, Jean Bazil, Rayssa Corujo, ” Jean Bazil, Floridians, ” Corujo, ” Dustin Weaver, Cape, Weaver, it’s, it’s asinine, I’m Organizations: YouTube, NBC, NBC News, Hurricane, ”, FEMA Locations: Florida, Hurricane, Tampa, Atlanta, Milton, Hillsborough County, Hurricane Milton, “, Claremont , Florida, Cape Coral , Florida

☆ Tesla stock drops 10% after Wall Street sees robotaxi event 'stunningly absent on detail'
▼ + stars: | 2024-10-11 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Tesla stock fell as much as 10% after its robotaxi reveal underwhelmed Wall Street analysts. Tesla's vision drew skepticism from Wall Street over execution and potential profit challenges. AdvertisementTesla stock dropped as much as 10% on Friday after the automaker's robotaxi reveal event underwhelmed Wall Street. "We found Tesla's Robotaxi event to be underwhelming and stunningly absent on detail," Sacconaghi said. There was at least one Wall Street analyst who struck a positive tone after Tesla's robotaxi event: Wedbush analyst Dan Ives.

Persons: —, Elon Musk, wasn't, Wells, Colin Langan, Bernstein, Toni Sacconaghi, Tesla, Sacconaghi, Dan Ives, Ives Organizations: Street, Service

☆ Pharmacy deserts are appearing across U.S. as drug stores closures spread
▼ + stars: | 2024-10-11 | by ( Kevin Williams | ) www.cnbc.com time to read: +12 min

"As long as the big three PBMs go unchecked, more pharmacy deserts will appear," Rochol said. Between 2023 and 2024, independent pharmacies in the CVS Caremark pharmacy network were reimbursed 67.5% higher on average than CVS Pharmacy locations, and 51.9% higher than other chain pharmacies in the state. The CVS spokesman also said that CVS pharmacies are not all serviced by Caremark, working with over 70 different PBMs. "There are unfortunately many factors for pharmacy closures in rural areas, including population declines and the growing use of online pharmacies." But Banas believes the pharmacy deserts will only grow, and lead to an increase the number of apps and digitization.

Persons: Rochol, Miranda Rochol, Health —, —, Joyce Dingman, wasn't, Nickerson, David Nickerson, Tim Wentworth, Greg Lopes, Steven C, Anderson, Colin Banas, Banas, it's, Tamera Hughes, Hughes, Rob Anderson Organizations: FTC, Health, Federal Trade Commission, Aids, Rite Aid, CVS, Walgreens, Cigna, Walgreens Boots, CVS Pharmacy, Caremark, Pharmaceutical Care Management Association, National Community Pharmacists, National Association of Chain Drug, U.S, Congress, Amazon, University's, of Pharmacy, Pharmacists, Aid Locations: United States, PBMs, New Lebanon, Ohio, Dayton, New Lebanon's, Rust, New Lebanon , Ohio, Georgia, NACDS

☆ Gold ticks up, U.S. inflation data in focus
▼ + stars: | 2024-10-10 | by ( ) www.cnbc.com time to read: +2 min

Gold prices nudged higher on Thursday, while traders await a key U.S. inflation data due later in the day to gauge the Federal Reserve's future monetary policy stance. Spot gold rose 0.2% to $2,614.00 per ounce by 0246 GMT, after easing for the previous six sessions. The U.S. Consumer Price Index for September is due at 1230 GMT and Producer Price Index data on Friday. Markets see an 80% chance of a 25-basis-point Fed rate cut in November. Dallas Fed Bank President Lorie Logan called for gradual cuts and said that the U.S. central bank should not rush.

Persons: Price, Ilya Spivak, Spivak, Mary Daly, Lorie Logan, Israel's Organizations: U.S, Consumer, Treasury, Fed, San Francisco Fed Bank, Dallas Fed Bank Locations: U.S, Iran

☆ Here are Thursday's biggest analyst calls: Nvidia, Microsoft, Netflix, CVS, Honeywell, Nike, AIG, Sunnova & more
▼ + stars: | 2024-10-10 | by ( Michael Bloom | ) www.cnbc.com time to read: +14 min

Barclays upgrades CVS to overweight from equal weight Barclays said the stock is a "new margin story." JPMorgan downgrades Honeywell to neutral from overweight JPMorgan said it's downgrading the stock after 15 years with an overweight rating. UBS upgrades Tronox to buy from neutral UBS said it's bullish on the chemical manufacturer. "We upgrade shares of EVGO from Neutral to Buy, following the $1.05bn DOE loan conditional commitment announced last week. "Our bullish view of AIG reflects its outsized EPS growth, lower exposure to risks facing commercial lines carriers (casualty reserves and higher cat loads), high capital flexibility, and attractive valuation."

Persons: Morgan Stanley, Goldman Sachs, Goldman, it's bullish, Jefferies, TD Cowen downgrades, Cowen, Bernstein, Brinker, Kevin Hochman, Truist, it's, BIRK, Cantor Fitzgerald, Mara, Cantor, MARA, Wolfe, Google's, Satya Nadella, Lucas Jackson Organizations: Nvidia, Netflix, Barclays, JPMorgan, Honeywell, Microsoft, UBS, TD Cowen downgrades Pepsi, U.S, Department of Energy, DOE, RBC, PayPal, Cirrus, Bank of America, underperform Bank of America, Nike, Mara Holdings, AIG, DOJ, Google, Reuters Locations: EVGO, EAT's, LHX, New York City

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