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☆ Yen rises to 7-month highs as U.S. slowdown fears carry over
▼ + stars: | 2024-08-05 | by ( ) www.cnbc.com time to read: +1 min

Japanese yen and U.S. dollar on display in Yichang, Hubei province, Nov 13, 2023. The selling continued on Monday, with U.S. Treasury yields falling further, stock indexes in the red and currencies slightly less volatile but down against the dollar and yen. The safe-haven and carry-funding favorite, the yen, was traded at 145.43 yen , up 0.8% versus the dollar, after hitting a mid-January peak of 145.28 in early deals. The euro was flat at $1.091, the dollar index was nearly flat too at 103.17 while the Australian dollar fetched $0.6495 and was down 0.25%. "The U.S. economy is showing signs of slowdown but it's not as bad as the market is pricing in."

Persons: Masafumi Yamamoto Organizations: U.S, Fed, Treasury, Mizuho Securities Locations: Yichang, Hubei province, Asia, Tokyo, U.S

☆ Violent, far-right riots overran some UK cities this weekend. What happened, and what comes next?
▼ + stars: | 2024-08-05 | by ( Rob Picheta | ) edition.cnn.com time to read: +10 min

London CNN —Far-right riots swept Britain over the weekend, with outbreaks of anti-immigrant violence in a number of cities and towns, leaving the new UK government scrambling to control the worst disorder in more than a decade. Throughout Friday, Saturday and Sunday, violent protesters congregated in city and town centers across the UK, many of them apparently intent on clashing with police and causing havoc. The gatherings ostensibly started as anti-immigration marches, organized on social media platforms like X and on WhatsApp and Telegram groups. Violence also took place in Sunderland, Middlesbrough, Stoke-on-Trent and several more cities, mostly across the Midlands and north of England. The man in charge of bringing those offenders to justice was Keir Starmer, then Britain’s Director of Public Prosecutions.

Persons: Keir Starmer, –, ”, Constable Lindsey Butterfield, Owen Humphreys, we’ve, ” Starmer, Christopher Furlong, Nigel Farage, Priti Patel, Diane Abbott, Britain’s, Elon, Tommy Robinson, Joe Mulhall, Robinson, Peter Powell, Musk, “, Starmer, underfunding Organizations: London CNN, Labour Party, Protesters, Rotherham, South Yorkshire Police, Middlesbrough, Stoke, Trent, Office, National Police Chiefs ’ Council, “, Downing, Police, . Police, Reform, Conservative Party, Farage, Conservative, CNN, Getty, Public Prosecutions, British Ministry of Justice, State, Justice, PA Media Locations: Britain, Southport, England, WhatsApp, Rotherham, Tamworth, Midlands, Middlesbrough, Sunderland, United Kingdom, Manchester, AFP, ”, British, London, gridlock, Wales, Afghanistan

☆ Southern California Fire Destroys Homes and Forces Evacuations
▼ + stars: | 2024-08-05 | by ( Soumya Karlamangla | More About Soumya Karlamangla | ) www.nytimes.com time to read: 1 min

A fast-moving brush fire burned homes and forced evacuations in the inland California city of San Bernardino on Monday afternoon. Shocking views of the fire tearing across a residential hillside stoked fears that an already dangerous fire season could threaten the more populated parts of the state. The fire in the Southern California city, about 60 miles east of downtown Los Angeles, has grown to 100 acres and burned multiple buildings, said Eric Sherwin, a spokesman for the San Bernardino County Fire Department. Residents of dozens of homes in the Shandin Hills neighborhood are under evacuation orders, and the county has set up an evacuation center at a nearby elementary school. Multiple suburban houses with tile roofs could be seen on live TV engulfed in flames on Monday afternoon.

Persons: Eric Sherwin Organizations: San Bernardino, Monday, San, San Bernardino County Fire Department, Residents Locations: California, San, Southern California, Los Angeles, San Bernardino, Shandin

Stocks, cryptocurrencies, the dollar, oil — they’re all down sharply again on Monday on concerns that the U.S. economy is slowing faster than expected. It comes after a rough week for global markets. That has reignited criticisms that the Fed is moving too slowly to cut rates as economic conditions look shakier. Mega-cap tech stocks, which have driven much of the market’s gains this past year, were especially bruised: Nvidia was down 11 percent premarket, while Apple was off 7.5 percent. The yield on the 10-year Treasury note fell to a one-year low.

Persons: Berkshire Hathaway, Bitcoin, Brent, Goldman Sachs, Goldman Organizations: Nvidia, Apple, Berkshire, Nikkei, Bank of Japan, . Investors Locations: U.S, Japan

☆ Nvidia, Super Micro Computer lead AI trade carnage with both stocks down more than 12%
▼ + stars: | 2024-08-05 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

With investors in a risk-off mood, AI shares with high valuations were among the first to be dumped from portfolios. Nvidia and Super Micro Computer shed about 12% each before the bell, while Advanced Micro Devices lost about 5%. Megacap technology stocks also sold off during premarket trading, with Alphabet , Meta Platforms and Amazon falling more than 5% each. Major technology stocks — with the exception of Nvidia — wrapped up a busy earnings stretch last week. Nvidia, Alphabet and Meta Platforms pulled back more than 5%, while Microsoft dropped more than 6%.

Persons: Tesla, Warren Buffett's Berkshire Hathaway, Nvidia —, Mark Haefele, Jefferies Organizations: Federal Reserve, Nvidia, Computer, Super, VanEck, Microsoft, Apple, UBS Global Wealth Management

The Serbian tennis legend had won all four Grand Slam titles and practically every honor there is in the sport, but the Olympic gold medal had escaped him. Paul Ellis / AFP via Getty ImagesSimone Biles' Olympic medal collection has officially reached double digits. , the American cyclist who didn’t even qualify for the Olympics but is now going home with a gold medal. Racing in a downpour, Julien Alfred won the first Olympic medal in any sport for Saint Lucia on Saturday when she took gold in the women's 100-meter final. the first Olympic medal in any sport for Saint Lucia on Saturday when she took gold in the women's 100-meter final.

Persons: Noah Lyles, Jamaica’s Kishane Thompson, ’ Fred Kerley, Hector Vivas, Lyles, Novak Djokovic, Matthew Stockman, Novak Djokovic couldn’t, Djokovic, Carlos Alcaraz, Simone Biles, Paul Ellis, ”, Biles, hasn’t, “, ” Biles, Suni Lee, Kaylia Nemour, Qiu Qiyuan, David Li, Imane, Hungarian Anna Luca Hámori, ” Khelif, Lin Yu, Thomas Bach, Kristen Faulkner, Bobby Finke, Katie Ledecky can’t, Julien Alfred, Saint Lucia, Sha'Carri Richardson, Kamala Harris, Whom Harris, we’ll, Andy Beshear, Pete Buttigieg, Sen, Mark Kelly of, JB Pritzker, Josh Shapiro, Tim Walz, MAGA, Harris, Nikki Haley, Donald Trump, Trump, Vance, SCOTUS, Neil Gorsuch, Joe Biden's, Debby, Storm Debby, Darren Staples, Keir Starmer, Israel, Ismail Haniyeh, Fuad Shukr, “ They’ll, Michael G Organizations: Paris Olympics, U.S, Olympic, Getty, NBC News Algerian, Team USA, Saint, Paris, Taxi, Philadelphia . Kentucky Gov, Mark Kelly of Arizona ,, Mark Kelly of Arizona , Illinois Gov, Minnesota Gov, Democratic, Republican, GOP, ABC, Fox News, Tropical, National Hurricane Center, NOAA, U.S . Justice Department, Protesters, NBC News, NBC News Companies Locations: Serbian, Paris, Tokyo, Los Angeles, China, Hungarian, Taipei, U.S, Philadelphia . Kentucky, Mark Kelly of Arizona, Mark Kelly of Arizona , Illinois, Pennsylvania, Florida, of Mexico, Rocky, Southern California, Mississippi’s, Nottingham, England, AFP, Southport —, Liverpool, Hull, Israel, Iran, Breakwater, Rockland , Maine, South Florida, Nashville , Tennessee, Atlanta

☆ Who Are the Far-Right Groups Behind the U.K. Riots?
▼ + stars: | 2024-08-03 | by ( Esther Bintliff | Eve Sampson | ) www.nytimes.com time to read: 1 min

Violent unrest has erupted in several towns and cities in Britain in recent days, and further disorder broke out on Saturday as far-right agitators gathered in demonstrations around the country. The violence has been driven by online disinformation and extremist right-wing groups intent on creating disorder after a deadly knife attack on a children’s event in northwestern England, experts said. A range of far-right factions and individuals, including neo-Nazis, violent soccer fans and anti-Muslim campaigners, have promoted and taken part in the unrest, which has also been stoked by online influencers. Prime Minister Keir Starmer has vowed to deploy additional police officers to crack down on the disorder. “It is a group of individuals who are absolutely bent on violence.”

Persons: Keir Starmer, ” Locations: Britain, England

☆ Oil set to fall for fourth week as demand concerns weigh on sentiment
▼ + stars: | 2024-08-02 | by ( ) www.cnbc.com time to read: +2 min

Brent crude futures gained 33 cents, or 0.4%, to $79.85 a barrel by 0020 GMT, after falling 1.5% in the previous session, while U.S. West Texas Intermediate crude futures rose 38 cents, or 0.5%, to $76.69, after a 2.1% drop on Thursday. On a weekly basis, Brent futures are on track to fall 1.7%, while WTI futures are set to drop 1.1%. "Markets continue to remain wary of Chinese oil demand after June data came in weaker-than-expected," analysts at consultancy firm FGE said. Asia's crude oil imports dropped to the lowest in two years in July on weak demand in China and India, according to data compiled by LSEG Oil Research. Still, the outlook for Chinese crude oil imports is brightening, FGE analysts noted, citing an increase in strategic purchases and a recovery in refining rates in the country.

Persons: Brent, FGE Organizations: Brent, U.S, West Texas, LSEG Oil Research Locations: Long Beach , California, United States, Europe, Asia, China, India, Iran, Israel

☆ Nikkei 225: Japan plans to raise interest rates and investors are spooked
▼ + stars: | 2024-08-02 | by ( Laura He | ) edition.cnn.com time to read: +4 min

The Nikkei 225 sank 4.5% on Friday, extending a global stock rout that started following the release of weak US economic data. The Bank of Japan (BOJ) raised interest rates by 15 basis points to 0.25% on Wednesday, its second hike this year, and announced plans to taper off its policy of bond buying. ”The hike has narrowed the difference in interest rate between the United States and Japan, which pushed the Japanese yen higher against the greenback. Combined with strong corporate earnings and effective corporate governance reforms, the weak yen propelled the Nikkei 225 to all-time highs this year. “From a Japanese equity perspective, the earnings boost from a weak yen is set to diminish,” Citi analysts said on Thursday.

Persons: ”, Ken Cheung, Frank Benzimra, Korea’s, Australia’s Organizations: Hong Kong CNN — Japan’s Nikkei, Nikkei, Bank of Japan, Traders, Mizuho Securities, greenback, Societe Generale, ” Citi, Dow, Nasdaq, Labor Department, “, ” ANZ, Federal Reserve Locations: Hong Kong, United States, Japan, Asia, Shanghai

☆ These stocks have fallen too much, too fast and could be due for a rebound after broad market sell-off
▼ + stars: | 2024-08-02 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

This week's market sell-off has pushed several stocks into oversold territory — potentially setting these names for a rebound in the future. Troubled cybersecurity stock CrowdStrike is the most oversold stock on the list with an RSI of just 13.6. Some of this week's most overbought companies include defense giant Lockheed Martin , tobacco company Philip Morris International and FirstEnergy . Of the names on the list, Lockheed Martin has the highest 14-day RSI reading of 93.7. LMT YTD mountain Lockheed Martin in 2024

Persons: Goldman Sachs, LULU, Lockheed Martin, Philip Morris Organizations: Nasdaq, Dow Jones, CNBC, Moderna, U.S, Street, Lockheed, Philip Morris International, Bank of America Locations: LSEG, Thursday's

☆ Where to hide out? Try these low-volatility, dividend payers with growth
▼ + stars: | 2024-08-02 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

McDonald's stock made the list. Despite weaker-than-expected second-quarter results , Morgan Stanley Wealth Management added McDonald's stock to its dividend equity portfolio in a Friday note, citing its attractive valuation as the company pushes to revamp its menu pricing. MCD YTD mountain McDonald's stock. EQIX YTD mountain Equinix stock. "With sentiment / expectations relatively low, we like the set-up, as we suspect EQIX can maintain constant-currency revenue guide and accelerate revenue growth in 2H'24," the analyst added.

Persons: Stocks, Morgan, Daniel Skelly, Skelly, Equinix, Wells, Eric Luebchow Organizations: Dow Jones, Nasdaq, Federal, CNBC Pro, CNBC, Stock, Morgan Stanley Wealth Management, CVS Health, 2H, L3Harris Technologies, Omnicom

☆ Dow tumbles more than 550 points as investors fear the US economy is faltering
▼ + stars: | 2024-08-01 | by ( Krystal Hur | ) edition.cnn.com time to read: +2 min

New York CNN —Stocks tumbled Thursday after fresh data stoked fears that the US economy is weakening as interest rates stay at a 23-year high. Wage growth is running at a cooler pace and the unemployment rate is now at its highest point in more than two years, at 4.1%. Investors will get their next look at the state of the economy on Friday morning from the July jobs report. Economists polled by FactSet project a net gain of 175,000 jobs — a touch below the average for the past three months — and for the unemployment rate to hold steady. Powell said Wednesday that any significant weakening in the job market would be concerning.

Persons: Stocks, Dow, “, Jerome, Powell, ”, Chris Zaccarelli Organizations: New, New York CNN, Nasdaq, Labor Department, Independent, Alliance, ”, Fed, Investors Locations: New York

☆ Amazon decision to deprioritize 7 cloud services caught customers and even some salespeople by surprise
▼ + stars: | 2024-08-01 | by ( Eugene Kim | ) www.businessinsider.com time to read: +5 min

Read previewAmazon's recent decision to stop accepting new users for several cloud services caught some customers, partners and even a few employees by surprise. No new customers, no new featuresFor a business as important as AWS, deprioritizing services is a tricky balancing act. However, at the scale of AWS, this still means that thousands of developers and other customers likely still rely on these cloud tools. "We will continue to support our customers, whether they continue to use these services, or they migrate to other AWS offerings or alternative third-party solutions." Consider Amazon Q, Amazon Connect, Amazon Bedrock, AWS Marketplace, Amazon WorkSpaces, Amazon SageMaker, Amazon QuickSight, and many other offerings that have had significant success with customers," he wrote in an email.

Persons: —, Jeff Barr, Patrick Neighorn, Neighorn, Randall Hunt, Horovits Organizations: Service, Business, Web Services, AWS, Data Pipeline, Barr's, Amazon Connect

☆ Trump Says Venezuela Sends Criminals to the U.S. Here’s What to Know.
▼ + stars: | 2024-07-31 | by ( Jorge Valencia | ) www.nytimes.com time to read: 1 min

Former President Donald J. Trump has repeatedly stoked fears about a surge of people walking across the U.S. southern border and has singled out one group that he describes as posing a particular threat: migrants from Venezuela. At the Republican National Convention, with supporters waving signs that read “Mass deportation now,” he repeated a claim for which there is little or no evidence. Mr. Trump said that crime in Venezuela had declined by 72 percent because the government purged criminals from the country and sent them to the United States. Then he appeared to make a wry joke about a reduction in crime in one country resulting in an increase in another.

Persons: Donald J, Trump, ” Organizations: Republican National Convention Locations: U.S, Venezuela, United States

☆ Southport stabbing: Riot police, protesters clash during vigil for three girls killed
▼ + stars: | 2024-07-31 | by ( Helen Regan | Niamh Kennedy | ) edition.cnn.com time to read: +5 min

Riot police armed with shields and batons attempt to restore order in Southport, England on July 30, 2024. The North West Ambulance Service said it treated 39 police officers injured in the violence, 27 of whom were taken to hospital. Christopher Furlong/Getty ImagesPolice have said the suspect is from the village of Banks, near Southport, and was originally from Cardiff, Wales. More must be done to tackle Islamophobia and offer reassurance at this time.”On Tuesday, police named the three girls killed in the stabbing as Bebe King, 6, Elsie Dot Stancombe, 7, and Alice Dasilva Aguiar, 9. Taylor Swift, whose music was the theme of the dance class targeted in the attack, said Tuesday she was “completely in shock.”

Persons: Keir Starmer, thuggery, “, ”, ” Starmer, Taylor Swift, Constable Alex Goss, ” Goss, Christopher Furlong, Goss, Bebe King, Elsie Dot Stancombe, Alice Dasilva Aguiar, King, Bebe, Starmer Organizations: CNN, British, Protesters, English Defence League, Merseyside Police, Police, Riot, Getty, ” Merseyside Police, North West Ambulance Service, Muslim, of Britain, MCB, ” Locations: Southport, Southport , England, Banks, Cardiff, Wales

Elijah Nouvelage | Afp | Getty ImagesHow the LIFT Act could look todaySince the LIFT Act was first proposed in 2018, the cost of living has only skyrocketed, hitting working-class Americans especially hard. However, funding such a tax credit now could be tough amid growing concerns over the federal budget deficit. The advantage of the LIFT tax credit, said D'Acunto, is that it doesn't create the same market distortions the rent cap would ignite. Child tax credit is a 'huge priority' for DemocratsLIFT was first proposed years before Congress temporarily expanded the child tax credit during the Covid-19 pandemic, which could now be a bigger priority, experts say. Harris described the child tax credit changes as one of the "most important" and "most impactful" parts of the legislation in a 2021 speech.

Persons: Kamala Harris, Elijah Nouvelage, Tomas Philipson, Joe Biden's, Laura Veldkamp, Harris, Donald Trump, Francesco D'Acunto, Biden, Karl Widerquist, Jacob Channel Organizations: Democratic, Afp, Getty, White House Council, Economic Advisers, CNBC, Columbia University Business School, Georgetown University, D'Acunto, Federal, Plus, American Rescue Plan, Columbia University, . Census Locations: Atlanta , Georgia, Atlanta

☆ What’s happening in Venezuela - protests, election uncertainty and an economic crisis
▼ + stars: | 2024-07-30 | by ( Jessie Yeung | ) edition.cnn.com time to read: +10 min

CNN —Venezuelans across the country took to the streets on Monday to protest a disputed election, clashing with police as uncertainty swirls around the results amid allegations of election fraud. Venezuelan President Nicolás Maduro after the presidential election results were announced in Caracas on July 29, 2024. Though Maduro supporters celebrated his win in parts of Caracas, Monday was marked by wider protests by the opposition. Many regional and world leaders have cast doubt on the results, including the United States – though some of Venezuela’s partners have stood by Maduro. Once the fifth-largest economy in Latin America, Venezuela has experienced the worst economic collapse of a peacetime country in recent history.

Persons: Nicolás Maduro, Maduro, –, Juan Barreto, Hugo Chávez, Edmundo Gonzalez, Maria Corina Machado, Matias Delacroix, Gonzalez, Machado, António Guterres, Molotov, Samir Aponte, ”, “, Antony Blinken, Maduro’s Organizations: CNN, Sunday, Getty, AP, Officially, Electoral Council, CNE, The Carter, United Nations, Reuters, Police, Washington, Venezuela –, European Union Locations: Venezuelan, Caracas, AFP, Venezuela, Charallave, Chile, Spain, Puerto La Cruz, United States, United Kingdom, Argentina, Costa Rica, Peru, Panama, Dominican Republic, Uruguay, China, Cuba, Iran, Russia, Latin America

☆ Trump agrees to victim interview as FBI searches for shooter's motive
▼ + stars: | 2024-07-29 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +4 min

Andrew Caballero-Reynolds | AFP | Getty ImagesFormer President Donald Trump will participate in an FBI victim interview about his attempted assassination at a campaign rally, the agency told reporters Monday. The interview with Trump "will be consistent with any other victim interview that we do," an FBI official said in a press call. Republican candidate Donald Trump was evacuated from the stage at today's rally after what sounded like shots rang out at the event in Pennsylvania, according to AFP. Law enforcement recovered two explosive devices from the trunk of Crooks' car near the site of the Trump rally, and another from his bedroom. On the afternoon of the rally, Crooks flew a drone near the event area for about 11 minutes.

Persons: Donald Trump, Andrew Caballero, Reynolds, Trump, Thomas Matthew Crooks, Crooks, rallygoer Corey Comperatore, Kevin Rojek, Christopher Wray, Rojek, Oswald, Kennedy, Carlos Osorio Organizations: Republican, Convention, AFP, Getty, FBI, Butler, Inc, Bloomberg, U.S, Trump Locations: Milwaukee , Wisconsin, Butler , Pennsylvania, Pennsylvania, Pittsburgh, U.S

☆ Blinken chides Beijing's 'escalating actions' at sea, concerned over Taiwan
▼ + stars: | 2024-07-28 | by ( ) www.cnbc.com time to read: +3 min

U.S. Secretary of State Antony Blinken criticised Beijing's "escalating and unlawful actions" in the South China Sea at a summit on Saturday, while his Russian counterpart said Washington has stoked anxiety with its plan for a nuclear deterrence with ally Seoul for the Korean peninsula. Blinken singled out China over its coast guard's hostile actions against U.S. defense treaty ally the Philippines in the South China Sea. The Philippines' small troop presence on a grounded former U.S. navy ship at the Second Thomas Shoal has angered China for years. Blinken discussed Taiwan with Wang and concerns about Beijing's recent "provocative actions", included a simulated blockade during the inauguration of Taiwan President Lai Ching-te, a senior U.S. State Department official said. Wang told Blinken that although communications had been maintained between China and the United States, Washington had not stopped its containment and suppression of Beijing and had even intensified it.

Persons: Antony Blinken, Wang Yi, Beijing's, Blinken, Thomas Shoal, Wang, Lai Ching Organizations: China's, 57th Association of Southeast Asian Nations, Washington, Seoul, U.S, ASEAN Regional Forum, EU, Association of Southeast Asian Nations, ASEAN, Foreign, Taiwan, U.S . State Department Locations: Vientiane, South, China, Philippines, South China, Manila, Russia, India, Australia, Japan, Gaza, Ukraine, North, U.S, Laos, Beijing, Taiwan, United States, Washington

What the LIFT Act would mean todaySince the LIFT Act was first proposed in 2018, the cost of living has only sky-rocketed, hitting working-class Americans especially hard. But a tax credit like LIFT would also be extremely costly, according to Tax Policy Center estimates from 2018 and 2019. However, funding such a tax credit now could be tough amid growing concerns over the federal budget deficit. Focus on the child tax creditLIFT was first proposed years before Congress temporarily expanded the child tax credit during the Covid-19 pandemic, which could now be a bigger priority, experts say. The American Rescue Plan boosted the child tax credit to $3,000 from $2,000, with an extra $600 for children under age 6 for 2021, and families received up to half upfront via monthly payments.

Persons: Kamala Harris, Kevin Mohatt, Francesco D'Acunto, Biden, Karl Widerquist, Jacob Channel, Tomas Philipson, Laura Veldkamp, Harris, Donald Trump Organizations: West Allis Central High School, Reuters, Georgetown University, D'Acunto, Plus, White House Council, Economic Advisers, Columbia University Business School, American Rescue Plan, Columbia University, . Census Locations: West Allis , Wisconsin

☆ FBI seeking to interview Trump as part of assassination attempt investigation
▼ + stars: | 2024-07-26 | by ( Evan Perez | Alayna Treene | ) edition.cnn.com time to read: +2 min

CNN —The FBI is seeking to interview former President Donald Trump in its investigation of the assassination attempt to obtain a victim statement — a standard part of the investigation because he is a crime victim, according to a US official. Trump has said he “took a bullet for democracy,” and attacked Wray on Truth Social over his testimony. The hospital called it a ‘bullet wound to the ear,’ and that is what it was. No wonder the once storied FBI has lost the confidence of America!,” Trump posted. “Anyone who believes this conspiracy bullsh*t is either mentally deficient or willfully peddling falsehoods for political reasons,” Trump adviser Steven Cheung told CNN.

Persons: Donald Trump, Christopher Wray’s, there’s, Trump, “, Wray, ” Trump, Steven Cheung, John F, Kennedy, Kimberly Cheatle Organizations: CNN, FBI, Trump, Capitol, Trump’s, Republicans

☆ Stock market today: Dow soars 654 points as traders celebrate inflation data
▼ + stars: | 2024-07-26 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Encouraging inflation data stoked optimism that the Federal Reserve can cut interest rates in September. That changed Friday, as encouraging inflation data injected new life into the rally. Advertisement"Next week we expect [Fed Chair Jerome] Powell to set the table for future rate cuts, speaking confidently about progress bringing inflation down. According to the CME FedWatch Tool, the market no longer expects the Federal Reserve to keep rates steady in September. The market also forecasts high chances that the Fed will slash rates by up to 75 basis points through December.

Persons: Russell, —, Jerome, Powell, David Donabedian, Chris Zaccarelli, Dexcom Organizations: Federal, Service, PCE, CIBC Private Wealth, Reserve, Independent, Alliance Locations: Here's, –

☆ Biden says the fight for democracy is bigger than him, so he decided to 'pass the torch' to Harris
▼ + stars: | 2024-07-25 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +4 min

"I've decided that the best way forward is to pass the torch to a new generation," he said. "In this sacred space, I am surrounded by portraits of extraordinary American presidents," Biden said. First lady Jill Biden released a handwritten note to supporters to underline the president's push to hand the torch to Harris. Love,Jill pic.twitter.com/NakOWknWlC — Dr. Jill Biden (@DrBiden) July 25, 2024Republicans have been furious over Biden's decision. Despite the focus on Harris, Biden was clear that he intends to make the most of his remaining months in office.

Persons: —, Joe Biden, Biden, I've, Donald Trump, Lyndon B, Johnson, George Washington, Thomas Jefferson, Abraham Lincoln, Kamala Harris, Jill Biden, Harris, Joe —, Love, Jill, Jill pic.twitter.com, Dr, Mike Johnson Organizations: Service, Business, FDR, Kamala, Republicans, Trump Locations: COVID

In the three days since President Biden announced he was quitting the 2024 race, Mr. Trump has entered foreign territory. But within 24 hours, Democratic leaders unofficially crowned Ms. Harris and stamped out any notable opposition. His team considered mounting legal challenges to her campaign committee to make it harder for Ms. Harris to hit the ground running. And Mr. Trump is still cycling through nicknames for Ms. Harris — a sign that he hasn’t yet figured out how he intends to portray her. And some Trump campaign officials have telegraphed plans to “Willie Horton” Ms. Harris.

Persons: Donald J, Biden, Trump, It’s, Kamala Harris, Mr, Biden’s, Harris, “, —, viscerally, jostled, Erin Schaff, Brian Hughes, ” Mr, Biden’s “ Cackling, Laffin ’ Kamala Harris, ”, Kamala ”, Hillary Clinton, Kamala, Alex Castellanos, that’s, Kevin McCarthy, Mike Johnson, Doug Mills, ” Liam Donovan, ” Guy Cecil, “ Kamala Harris, David McCormick, Biden’s frailty, Willie Horton ” Ms, Michael Dukakis, Horton, Dukakis, Hilary Rosen Organizations: Republican National Convention, Democratic, Sunday, Black, Trump, The New York Times, Mr, Republicans, Republican, Indian, Indian American U.S, New York Times, National Republican, “ Republicans, Green, MAGA Inc Locations: Wilmington, Del, Indian American, Grand Rapids, Mich, Credit, Charlotte, —, Pennsylvania, Massachusetts, California

☆ Charles Schwab CEO defends business as shares tank after earnings
▼ + stars: | 2024-07-18 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

Cramer asked Bettinger whether his company still had an issue with cash shorting, as was suggested by a Thursday story from Barron's. Cash shorting, which occurs when depositors move funds form lower-paying accounts to high-yield ones, plagued Schwab last year, according to Barron's. But Bettinger suggested that cash shorting is not a significant issue. As an investment advisor, Bettinger said Schwab ensures that their clients' cash goes into a high-yielding money market fund. At Thursday's close, Schwab shares were down more than 17% for the week so far.

Persons: CNBC's Jim Cramer, Charles Schwab, Walt Bettinger, Cramer, Bettinger, Cash, Schwab, Barron's Locations: Thursday's

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