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☆ The commercial real estate recovery is on, but the rebound may be uneven
▼ + stars: | 2024-10-18 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

Howard Schnapp | Newsday | Getty ImagesThe tide could be turning for commercial real estate. That could give interest rate-sensitive sectors such as commercial real estate long-awaited positive momentum. While lower rates are not a "magic bullet," the easing of the Fed's monetary policy "lays the groundwork for a commercial real estate recovery," analysts wrote in a follow-up report in late September. More than $40 billion in transactions occurred during the second quarter, a 13.9% jump quarter over quarter, but still 9.4% lower year over year, according to real estate data intelligence firm Altus Group. While these dynamics could set the stage for a broader recovery, with some major subsectors such as commercial retail real estate picking up in tandem, the path forward will likely be uneven.

Persons: Howard Schnapp, Alan Todd, Todd, Willy Walker, Walker, Dunlop, what's, Wells, Wells Fargo, —, Chad Littell, Littell Organizations: Newsday, Federal Reserve, Bank of America, CNBC, REIT, Real, Board, New York, U.S, Capital Locations: Melville , New York, Wells, U.S, Manhattan, Wells Fargo

☆ Israel’s weapons: Where do they come from and who supplies them?
▼ + stars: | 2024-10-16 | by ( Antoinette Radford | ) edition.cnn.com time to read: +7 min

CNN —The United States has warned Israel it may stop supplying the country with weapons unless the humanitarian situation in Gaza improves. This is not the first time Israel’s major ally has threatened to turn off supplies. Here’s a breakdown of who supplies Israel with weapons:The United States:The United States is overwhelmingly the biggest supplier of arms to Israel. In 2023 69% of Israel’s arm imports came from the US, according to a report into international arms transfers by the Stockholm International Peace Research Institute (SIPRI). Germany:While in 2023, Germany contributed 30% of Israel’s weapons, that supply has significantly reduced over the course of 2024.

Persons: Joe Biden, Benjamin Netanyahu, Hassan Nasrallah, Olaf Scholz, Kay Nietfeld, Israel “, Antonio Tajani, SIPRI, David Lammy, Gil Cohen, Pedro Sanchez, “, ”, Emmanuel Macron, Macron, CNN’s Mia Alberti, Christian Edwards, Inke Kappeler Organizations: CNN, United, Stockholm International Peace Research Institute, US State Department, Foreign Military, International Court, Justice, Bundestag, Pagella, Labour, MIM, Magen, Getty, Spanish Ministry of Foreign Affairs, European Union and Cooperation, Israel, Spanish, International Court of Justice Locations: United States, Israel, Gaza, Rafah, Stockholm, Germany, Italy, France, Spain, Beirut, Nicaragua, Nazi, United Kingdom, AFP, Lebanon

☆ Timing isn't right for Israel to escalate: BMI Chief Economist
▼ + stars: | 2024-10-15 | 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 EmailTiming isn't right for Israel to escalate: BMI Chief EconomistCedric Chehab, Chief Economist at BMI, talks about rising tensions in the Middle East, and why he thinks oil prices don't seem to reflect the usual supply concerns.

Persons: Cedric Chehab Organizations: BMI Locations: Israel

☆ Data centers will prolong coal demand, benefiting these miners, Moody’s says
▼ + stars: | 2024-10-15 | by ( Spencer Kimball | ) www.cnbc.com time to read: +5 min

The power needs of data centers will temporarily prolong the demand for coal, maintaining the reliability of the electric grid but delaying the nation's decarbonization goals, according to Moody's Ratings. The electricity demand from data centers could more than double to 35 gigawatts by 2030 compared to 17 gigawatts in 2022, according to a Moody's report published Monday. "It can be cost effective for them to supply coal to those power plants, and those power plants can, in turn, meet the incremental demand coming in from the new data centers," Sama said. The benefit to U.S. coal producers, however, will be temporary as data center developers transition to cleaner sources of power, according to Moody's. But sustained coal demand in the U.S. due to data centers could briefly lift prices before coal resumes its decline after a few years, according to Moody's.

Persons: Elena Nadtotchi, Sandeep Sama, Sama, Joseph Craft, Consol Organizations: Coal, Resource Partners, Arch Resources, Consol Energy, CNBC, Resources, Energy Information Administration, Department of Energy, PJM, Alliance, Wall Street Locations: U.S, Appalachia, Virginia

☆ Two pioneering Black CEOs have a warning for companies abandoning diversity
▼ + stars: | 2024-10-15 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +7 min

But opponents ignore both the history of so-called meritocracy, and the fact that DEI programs benefit business, Frazier and Chenault argue. But they said opponents have weaponized select examples of diversity programs that are not practiced widely to oppose DEI entirely. Brandon Bell/Getty ImagesMeanwhile, conservative legal groups are now filing lawsuits targeting companies’ diversity initiatives, and Republican leaders like Florida Gov. Frazier and Chenault said there was a split between companies that rushed to create diversity programs in the wake of George Floyd’s murder in 2020 and companies that have embedded these programs into their business. “For those companies that had integrated DEI into the way they do business, fundamentally, it’s marbled into the meat, so to speak.

Persons: Ken Frazier, Ken Chenault, Ken Chenault’s, John Deere, Davidson, Bud Light’s, Frazier, ” Frazier, America’s “, Elon, Chenault, Roy Vagelos —, — Frazier, Vagelos, weren’t, Merck, —, ” Chenault, don’t, George Floyd, Brandon Bell, Ron DeSantis, Arkansas Sen, Tom Cotton, Bud Light, Robby Starbuck, Starbuck, George Floyd’s, They’re, ” Organizations: New, New York CNN, America, Merck, Black, American Express, Fortune, CNN, Corporate America, Tractor Supply, Boston Consulting Group, DEI, Revelio Labs, White, ” Companies, McKinsey, Republican, Florida Gov, Disney, Nike, Harley Locations: New York, Philadelphia, America, Arkansas

☆ New Croc clogs mean matching togs for your dogs
▼ + stars: | 2024-10-12 | by ( Erika Tulfo | ) edition.cnn.com time to read: +3 min

CNN —From cowboy boots to fried chicken-scented charms, foam footwear maker Crocs has a reputation for quirk. This month, Crocs is putting its best paw forward: The quirky-but-comfortable footwear maker is releasing a line of clogs for dogs. Pet Clogs are part of a partnership with pet supply company and subscription service BARK as part of Crocs’ annual “Croctober” campaign, when it releases a fan-inspired product. And sales of the footwear brand soared in 2020, thanks to the rise of casual fashion during the pandemic. “In many instances these will be fun purchases which people will share on social media, helping to amplify the Crocs brand,” he said.

Persons: Crocs, Andrew Rees, “, Justin Bieber, Bad, ”, Neil Saunders, Lightning McQueen, Saunders Organizations: CNN, Labor Statistics, American Pet Products, Disney, DreamWorks Locations: Crocs

☆ Oil oversupply could send prices tumbling in 2025, energy analyst says
▼ + stars: | 2024-10-10 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Oil could see a decline to a "much, much" lower price, according to crude analyst Tom Kloza. Oversupply will weigh on oil prices in 2025, Kloza predicted. AdvertisementThe oil market is headed into a troubled year in 2025, and crude prices may fall "much, much" lower, according to Tom Kloza, global head of energy analysis at Oil Price Information Service. The oil analyst said crude prices would experience more downward pressure in 2025 despite concerns that conflict in the Middle East could escalate and send prices higher. "It was pointing lower, and I think it's still pointing lower.

Persons: Tom Kloza, Kloza, —, Goldman Sachs, Brent Organizations: Service, Oil Price Information Service, Traders, CNBC, Energy Information Administration, Giants, Jets Locations: Saudi Arabia, Iraq

☆ Samsung posts disappointing third quarter profit guidance as it grapples with AI chips
▼ + stars: | 2024-10-08 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

(Photo by Joan Cros/NurPhoto via Getty Images)South Korean tech giant Samsung Electronics said it expects worse-than-expected profit for the third quarter. Samsung is the leading manufacturer of memory chips, which are utilized in devices like laptops and servers. Analysts polled by LSEG expected an operating profit of 11.456 trillion Korean won ($7.7 billion) for the quarter ended Sept. 30. Samsung's revenue for the quarter was expected to hit 81.96 trillion won ($61 billion), according to LSEG estimates. DRAM refers to dynamic random access memory chips that are often used in laptops, workstations and PCs.

Persons: Joan Cros, Daniel Yoo, Yoo, LSEG Organizations: Samsung, Mobile, Getty Images, Samsung Electronics, Yuanta Securities, Macquarie Equity Research, Reuters Locations: Barcelona, Spain, Korean, Yuanta Securities Korea, South

☆ Why oil and gas markets are dreading the risk of supply disruption in the Strait of Hormuz
▼ + stars: | 2024-10-08 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +5 min

In 2022, oil flow in the Strait of Hormuz averaged 21 million barrels per day, according to the U.S. Energy Information Administration (EIA). Saul Kavonic, senior research analyst at MST Financial, said supply disruptions along the Strait of Hormuz could send oil prices significantly higher. Oil prices traded more than 3% on Monday, extending gains even after notching their sharpest weekly gain since early 2023 last week. "But seeing where the oil price sits right now the market doesn't seem to hold much probability for such a development at all," he added. "A significant disruption to these flows would be enough to push oil prices to new record highs, surpassing the record high of close to $150/bbl in 2008," he added.

Persons: Alan Gelder, Wood Mackenzie, CNBC's, Iraq —, Gelder, Saul Kavonic, Kavonic, Bjarne Schieldrop, SEB, Brent, Schieldrop, Warren Patterson, Patterson Organizations: Nurphoto, U.S . Energy Information Administration, Energy, Brent, U.S, West Texas, ING, bbl, United Arab Emirates, Space Shuttle Columbia Locations: Persian, Bushehr, Iran, Hormuz, Oman, Strait, Israel, Saudi Arabia, Kuwait, Iraq, UAE, Gulf, Muscat

☆ Here are Monday's biggest analyst calls: Nvidia, Apple, Amazon, Netflix, Campbell Soup, Gilead, American Express & more
▼ + stars: | 2024-10-07 | by ( Michael Bloom | ) www.cnbc.com time to read: +10 min

Wells Fargo upgrades Gilead to overweight from equal weight Wells says the biopharma company has an attractive setup. Wells Fargo upgrades Canadian National to overweight from equal weight Wells says it sees "accelerating growth" for the railway company. Barclays downgrades Netflix to underweight from equal weight Barclay says the "growth algorithm is getting more complex." Wells Fargo downgrades Amazon to equal weight from overweight Wells says the "positive revision story [is] on pause for Amazon. JPMorgan upgrades Ally Financial to overweight from neutral and downgrades American Express to neutral from overweight JPMorgan downgraded American Express and says it sees "asymmetric risk."

Persons: Jefferies, Wells, Morgan Stanley, it's bullish, Barclay, NFLX, Piper Sandler, Piper, Mizuho, JPMorgan downgrades Lamb Weston, JPMorgan, downgrades Sherwin, Williams, KeyBanc, Bernstein, Campbell, underperform Bernstein, Coupang, CPNG, Barclays downgrades, Avery Dennison, Garmin, Hershey Organizations: Apple, Apple Intelligence LT, UW, Vertiv Holdings, Coty, Barclays, Netflix, MKSI, Mizuho, JPMorgan, Deutsche Bank, Alliance, Deutsche, UBS, NXP, Express, American Express, Barclays downgrades DuPont, DuPont, Bank of America downgrades Constellation Brands, Bank of America, Constellation Brands, Bank of America downgrades Comerica, of America, CMA, Air Products, Hershey Locations: OW, Gilead, Canada, underperform

“There’s no endgame — it’s starting to feel like a forever war,” said Frank Lowenstein, special envoy for Israeli-Palestinian negotiations under President Barack Obama. Storm-battered Florida declares another emergency as Hurricane Milton approachesTropical Storm Milton rapidly intensified into a Category 1 hurricane Sunday with its path aimed at Florida, less than two weeks after Hurricane Helene made landfall in the state. Ron DeSantis said in a briefing that Milton is expected to make landfall in Hillsborough or Pinellas county Wednesday evening. Since 1850, only two storms that originated in the Gulf’s Bay of Campeche have struck Florida. Politics in briefPresidential promotions: With just weeks before the election, Trump has taken to promoting items and businesses that aren’t connected to his campaign, from a new cryptocurrency platform to NFT trading cards.

Persons: Israel’s, “, ”, Frank Lowenstein, Barack Obama, it’s, Yoram Schweitzer, Tropical Storm Milton, Helene, Ron DeSantis, Milton, Trump, Donald Trump, Corey Comperatore, Elon Musk, MAGA, Adam Schiff, Joe Biden’s, ” Schiff, Kristen Welker, Harris, Notre, Amy Coney Barrett, Melania Trump, Lejeune Leo Case, Jessie Hoerman Leo Case, Lejeune, ‘, Justine Goode, Instagram, Sam Darnold, Kirby Lee Organizations: Milton, Tropical Storm, Gov, Trump, Service, NBC News, Press, Capitol, Notre Dame, Catholic, Supreme, Sunday, Fox News, Lejeune, Pacific, Marine Corps, NBC, Football, Minnesota Vikings, New York Jets, Tottenham Hotspur Locations: Israel, Gaza, Lebanon, Iran, Florida, Tropical, Hillsborough, Pinellas, Gulf’s, Campeche, Gulf of Mexico, Butler , Pennsylvania, “, Iwo Jima, North Carolina

☆ There’s too much negativity about the stock market. Focus on these 3 positives instead
▼ + stars: | 2024-10-06 | by ( Jim Cramer | ) www.cnbc.com time to read: +10 min

After all of these years, after all of the rather incredible rallies and gains in the stock market from so many groups, the typical morning still starts with a bevy of negativity. We hear about OpenAI and its brilliant $167 billion valuation , but we don't see any stock available to public-market investors. I have been furious at myself for thinking the Chinese government couldn't do anything about the country's struggling stock market. The Chinese stock market has been rallying nicely since the stimulus announcements. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: —, Elon Musk, he's, isn't, Carl Quintanilla, David Tepper, holler, That's, that's, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Federal Reserve, Walmart, Fed, SpaceX, Nike, Walgreens, CVS Health, Club, GE Healthcare, Wynn Resorts, Chinese Communist Party, Apple, PDD Holdings, JD.com, Baidu, Diamondback Energy, Exxon Mobil, CNBC, New York Stock Exchange, Getty Locations: U.S, China, —, New York City

The World War II tank commander and recipient of the Navy Cross, the military’s second-highest recognition for valor, was one of the first service members exposed to a contaminated water supply at Camp Lejeune. His granddaughter sought to prove he was sickened at the Marine Corps training facility in North Carolina. Now, she plans to share what she believes is the largest private collection of Camp Lejeune materials with the veterans named in her documents. “I want to give these hard copies back.”Leo Case was stationed at Camp Lejeune after earning a Navy Cross for valor during World War II. Hoerman said she started digging into her grandfather’s history after the PACT Act of 2022 expanded benefits to millions of veterans exposed to burn pits and other toxic substances.

Persons: Leo Case, Camp Lejeune, It’s, ”, Jessie Hoerman, Louis, “, ” Leo Case, Lejeune, Case, Hoerman Organizations: Pacific, Navy, Marine Corps, Camp Lejeune, Agency, Toxic Substances, Veterans Administration, NBC News Locations: Iwo Jima, Camp, North Carolina, St, Syracuse , New York

☆ Why oil prices haven't skyrocketed on Middle East supply fears — yet
▼ + stars: | 2024-10-04 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +6 min

Iran, which is a member of OPEC, is a major player in the global oil market. It's estimated that as much as 4% of global supply could be at risk if Israel targets Iran's oil facilities. For some analysts, the reason crude prices have yet to move even higher is because the oil market is short. watch nowTamas Varga, an analyst at oil broker PVM, told CNBC via email on Thursday that the oil market was pricing in some risk premium given the geopolitical concerns. These fears, however, will be greatly alleviated in [the] coming days unless oil supply from the region or traffic through the Strait of Hormuz are materially impacted," he added.

Persons: Fatemeh, Goldman Sachs, SEB, Jeff Currie, Carlyle, CNBC's, it's, Currie, we've, Amrita Sen, We've, Sen, Joe Biden, Biden, Tamas Varga, " Varga, Benjamin Netanyahu, Masoud Pezeshkian Organizations: Anadolu, Getty, Energy, OPEC, Brent, U.S, West Texas, CNBC, White House, Islamic Revolutionary Guard Corps, Persian, Nurphoto Locations: Isfahan Refinery, Iran, Isfahan, Israel, Swedish, backwardation, bearishness, U.S, Hormuz, Oman, Tehran, Qatar, Persian, Bushehr, Bushehr province

☆ Goldman Sachs says crude could spike by $20 on Iran oil shock
▼ + stars: | 2024-10-04 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +4 min

The oil tanker 'Devon' prepares to transfer crude oil from Kharg Island oil terminal to India in the Persian Gulf, Iran, on March 23, 2018. Oil prices could shoot up $20 per barrel if Iranian production sees a hit resulting from Israeli retaliation, according to Goldman Sachs. U.S. crude oil prices just saw a third consecutive session of gains after Iran launched a ballistic missile attack on Israel, heightening tensions in the region. If Israel hits Iran's oil industry, supply disruptions in the Strait of Hormuz could become of concern, other analysts echoed. This strategically significant waterway connects crude oil producers in the Middle East with major global markets.

Persons: Struyven, Daan Struyven, Goldman Sachs, CNBC's, Saul Kavonic, Joe Biden, Brent Organizations: U.S . Energy Information Administration, Oil, CNBC, White, bbl, USD150, Fitch Solutions, BMI Locations: Devon, India, Persian Gulf, Iran, Saudi Arabia, UAE, Israel, U.S, China, Hormuz, Strait, Oman, OPEC

☆ Oil rises as Middle East conflict deepens, gains capped by global supply outlook
▼ + stars: | 2024-10-03 | by ( ) www.cnbc.com time to read: +2 min

Oil prices ticked higher in early trade on Thursday as investors weighed the escalating conflict in the Middle East and the potential for disruption to crude flows, against an amply-supplied global market. But an unexpected build in U.S. crude inventories on Wednesday helped ease some supply concerns and curbed oil price gains. Some investors remained unfazed as global crude supplies have yet to be disrupted by unrest in the key producing region, and spare OPEC capacity tempered worries. OPEC has enough spare oil capacity to compensate for a full loss of Iranian supply if Israel knocks out that country's facilities. "The effectively available spare capacity might be much lower if renewed attacks on energy infrastructure on countries in the region happen," said Giovanni Staunovo, analyst at UBS.

Persons: derek, East, Jim Simpson, Giovanni Staunovo Organizations: Brent, . West Texas, Energy Information Administration, ANZ, East Daley Analytics, Reuters, OPEC, UBS Locations: Kuwait, Saudi Arabian, Israeli, Beirut's Bachoura, Iran, Israel, Palestine, Lebanon, Gulf

☆ Panic buying amid U.S. ports strike is creating supermarket supply concerns
▼ + stars: | 2024-10-03 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +4 min

There is no need for panic buying, and we encourage consumers to shop responsibly. Bill Simon, former CEO of Walmart, stressed that panic buying is serious and can have a cascading effect on domestic products. "Panic buying not only impacts the availability of imported products, but domestic products as well as consumers shift their purchase behavior," warned Simon. Walmart and Target did not immediately respond to requests about any panic buying patterns identified at their stores. John Catsimatidis, owner of the NYC super chain Gristedes, said the panic buying is occurring and showing no signs of slowing down.

Persons: Stew Leonard, Jr, Stew Leonard's, restocked, Bill Simon, Simon, John Catsimatidis Organizations: CNBC, Gulf Coasts, National Grocers Association, —, of Commerce, East, National Retail Federation, Walmart, Target, NYC Locations: Gulf Coast, East Coast, Gulf, United States, U.S, Canada, Mexico, East

☆ Oil market faces a rude awakening if Iran’s energy infrastructure is targeted, analysts say
▼ + stars: | 2024-10-03 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

It comes amid speculation that Israel could be planning to launch a retaliatory attack on Iran targeting its oil infrastructure — a prospect which would likely deliver a rude awakening to bearish energy market participants. Iran, which is a member of the Organization of the Petroleum Exporting Countries (OPEC), is a major player in the global oil market. So much so, it is estimated that as much as 4% of the world's supply could be at risk if Iran's oil infrastructure becomes a target for Israel. That, of course, would add a significant risk premium to oil," Schieldrop said. Situated between Iran and Oman, the Strait of Hormuz is a narrow but strategically important waterway that links crude producers in the Middle East with key markets across the world.

Persons: Bjarne Schieldrop, SEB, Schieldrop Organizations: CNBC, Organization of, Petroleum, Israel Locations: Isfahan Refinery, Iran, Isfahan, Israel, Strait, Hormuz, Oman

☆ Armies will be able to maneuver on battlefields again, but it's going to be difficult and bloody
▼ + stars: | 2024-09-29 | by ( Michael Peck | ) www.businessinsider.com time to read: +9 min

The Ukraine war raises a difficult question: Can armies maneuver to win anymore? Advertisement"Firepower kills," warned the French General Philippe Pétain just prior to the First World War. By temporarily suppressing the defensive drone-artillery combo that has proven so devastating in the Russo-Ukraine War, armies can again maneuver to defeat their enemies. ISW sees three problems with trying to maneuver in Ukraine, lessons that broadly apply to modern battlefields. AdvertisementArtillery and machine guns were so deadly in World War I that armies fought from trenches.

Persons: it's, —, Philippe Pétain, Pétain, ISW, That's, Michael Peck Organizations: Artillery, Service, Getty, Ukraine, Air Force, BAI, Defense, Foreign Policy, Rutgers Univ, Twitter, LinkedIn Locations: Ukraine, Russo, Washington, Russia, Russian, Kursk, Ukrainian, Russians, Forbes

☆ A record number of apartments are getting built this year. That's great news for real estate affordability.
▼ + stars: | 2024-09-28 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +4 min

The US will see construction completed on a record number of apartments this year. The Sun Belt region in particular is seeing this dynamic play out. The US will see construction on a record number of apartments completed this year. They're now seeing rent prices fall, or at least remain stagnant as the rest of the nation lags behind. That means the market will eventually balance itself in the next few years, which will lead rent prices to once again rise, she said.

Persons: —, Laurie Goodman, Goodman, Austin, Chen Zhao, Zhao Organizations: Service, Housing Finance, Center, Urban Institute, Sun, metros, Dallas, Harvard Locations: Dallas, New York, Austin

☆ Goldman makes this stock its top pick for the fourth quarter on AI data center boom
▼ + stars: | 2024-09-26 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Digital Realty Trust is a key play on artificial intelligence data centers entering the fourth quarter as interest remains strong in the space, according to Goldman Sachs. Analyst James Schneider has a buy rating and top pick designation for the data center owner. While investors are long on data center stocks, they've recently turned more neutral on tower-focused names, he said. Digital Realty Trust shares rose modestly in early trading on Thursday. DLR YTD mountain Digital Realty Trust, year to date

Persons: Goldman Sachs, James Schneider, Schneider, bode, they've Organizations: Realty, Digital Realty Trust, Realty Trust Locations: Texas, hyperscalers

☆ OPEC is highly bullish on long-term oil demand growth. Not everyone agrees
▼ + stars: | 2024-09-24 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

Low global demand forecasts, coupled with new oil supply coming from non-OPEC countries, spell a long period of subdued crude prices. Has demand growth hit its apex, and is it just downhill from here? The oil producer group's 2024 World Oil Outlook report, released Tuesday, predicts strong energy demand growth of 24% globally between now and 2050. It also forecasts "robust medium-term growth" in oil demand reaching 112.3 million barrels per day in 2029, an increase of 10.1 million barrels per day compared to 2023. The IEA still sees global oil demand rising; it just forecasts a smaller rise, and expects it to peak by the end of the decade.

Persons: It's Organizations: Brent, International Energy Agency, The, IEA Locations: Saudi, Ras Tanura, Saudi Arabia, OPEC, The Paris

☆ Investors shorting oil are walking into a 'bear trap' with energy demand set to surge, Bank of America says
▼ + stars: | 2024-09-23 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Investors have turned bearish on oil amid fears of an OPEC+ price war and weak China oil demand. But if world GDP grows 3.3% next year, energy demand will likely surge, Bank of America says. That's because if GDP grows according to estimates, energy demand growth will likely follow. AdvertisementOPEC+ plans to add crude oil barrels into an existing surplus oil market after a series of cuts in the last two years. Those factors, along with the chance for a global economic slowdown, pose downside risks to the analysts' oil price target.

Persons: — Organizations: Bank of America, Service, Federal Reserve, bbl Locations: OPEC, China

The largest single-contributor donations went to MAGA Inc., the super PAC backing Trump, with Wisconsin roofing billionaire Diane Hendricks, a prolific GOP megadonor, giving $10 million to the group. On the Democratic side, tech entrepreneurs were the biggest donors to FF PAC, also known as Future Forward, a super PAC backing Harris’ presidential bid. Moskovitz donated $3 million to FF PAC, while Hastings, Jeff Lawson and Erica Lawson each gave $1 million. Super PACs like FF PAC and MAGA Inc. are havens for prolific political megadonors like Hendricks, Lutnick and Hastings because, unlike campaigns and their affiliated committees, super PACs don’t have limits on how much individuals can donate. Yass and Uihlein are both major GOP megadonors who have given to Club for Growth and other conservative groups for multiple election cycles.

Persons: Kamala Harris, Donald Trump, Diane Hendricks, Howard Lutnick, Cantor Fitzgerald, Paul Singer, Annette Caldwell Simmons, Harold Simmons, Warren Stephens, Harris, Leon Neal, Dustin Moskovitz, Reed Hastings, Twilio, Jeff Lawson, Erica, Moskovitz, Erica Lawson, Hastings, Joe Biden, Hendricks, Jeff Yass, Richard Uihlein, Amos Hostetter Jr Organizations: Democrats, Republicans, Federal, MAGA Inc, PAC, Trump, GOP, Elliott Management, Stephens Inc, Democratic, FF PAC, Facebook, Netflix, Growth, Susquehanna International Group, for Growth, House, Congress, Continental Cablevision Locations: Wisconsin, Hastings, Lutnick, Yass, Uihlein

☆ Rate cuts might make it cheaper to buy a house, but they won't fix the US housing market's biggest problem
▼ + stars: | 2024-09-21 | by ( Filip De Mott | ) www.businessinsider.com time to read: +5 min

The Fed's interest rate cut will ease financing conditions for homebuilders, analysts told BI. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementThe Federal Reserve's rate cut will surely impact the housing market, but its effect likely won't affect arguably the most important part of the equation: keeping affordability tight. But how this translates into a much-needed supply boost is a different story, and there are factors the Fed cut won't fix. Lingering uncertaintiesAdvertisementFor instance, Nanayakkara-Skillington noted that material pricing, from drywall to steel mill products, has weighed heavily on homebuilders since the pandemic.

Persons: —, it'll, NAHB's, Skillington, NAHB, Michael Neal, Fitch, Neal Organizations: Service, National Association of Home Builders, Urban Institute senior, Fitch

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