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☆ Gold touches record high on rate-cut bets, weaker U.S. dollar
▼ + stars: | 2024-09-25 | by ( ) www.cnbc.com time to read: +2 min

Gold bars sit in a vault at the Perth Mint Refinery, operated by Gold Corp, in Perth, Australia, on August 9, 2018. Gold hit a record high on Wednesday, boosted by a softer U.S. dollar and hopes of more interest rate cuts, while investors looked for new signals for the Federal Reserve's interest rate trajectory. Spot gold was steady at $2,658.08 per ounce, as of 0557 GMT, after hitting an all-time high of $2,670.43 earlier. On Tuesday, China announced a slew of support measures including outsized rate cuts, after the U.S. Fed cut rates by 50 basis points last week. Inflows to gold exchange-traded funds, particularly from Western investors, will rise in the coming months, providing further support for record-high bullion prices, analysts said.

Persons: Gold, Kelvin Wong, OANDA's, Wong, Michelle Bowman, Jerome Powell's, heightening Organizations: Perth Mint Refinery, Gold Corp, U.S, Fed, Asia Pacific, Traders Locations: Perth, Australia, China, Beirut

Secret Service advance agents did not request a surveillance team, which could have helped patrol the rally for approximately 15,000 attendees. The lead advance agent for the Secret Service could not even answer the committee when asked who secured the building. Other security requests deniedTrump’s Secret Service security detail requested Counter Assault Team liaisons ahead of the July 13 rally but were denied. The liaison would provide specialized tactical advice to other Secret Service agents and law enforcement on the ground. The lead advance agent also told the committee she requested 13 magnetometers from Secret Service, but only received 10.

Persons: Donald Trump, Thomas Matthew Crooks, Trump, Jill Biden, “, ” Sen, Richard Blumenthal, Abbott, Costello, ‘ who’s, ” Nobody, Butler, –, ”, Crooks, wasn’t, “ It’s, Sen, Rand Paul, whoever’s, ” Paul, ” Blumenthal, Kimberly Cheatle, “ I’m, there’ll, what’s Organizations: CNN, Secret, Secret Service, Service, Connecticut Democrat, Trump, Agents, Emergency Services Unit, Emergency, Unit, US Secret Service, Butler, FBI, SAIC, Trump’s, Kentucky Republican, Capitol Locations: Butler , Pennsylvania, Connecticut, Pittsburgh, Butler, Iran, Kentucky

☆ Starmer is selling Britain on gloom, and patience is wearing thin
▼ + stars: | 2024-09-25 | by ( Rob Picheta | ) edition.cnn.com time to read: +9 min

Protesters demonstrate outside the Labour Party conference venue in Liverpool against the withdrawal of the winter fuel allowance, on September 23, 2024. “It has felt a bit blunt,” a Labour Member of Parliament admitted after Starmer’s speech Tuesday, summing up the sentiment across much of conference. Unfortunately, the realities of governing are beginning to bite the Labour Party – and it is likely he will need to show some returns far sooner. Starmer’s speech was was light on fresh content but a heckler was calmly removed and the key messages were confidently delivered. But a premiership can only survive on doom and gloom for so long, and patience is already wearing thin among much of the wider party.

Persons: Keir Starmer, –, Ian Forsyth, Starmer, Taylor, “, Rachael Maskell, Sir Keir Starmer, Peter Byrne, Maskell, ”, Boris Johnson’s, ” –, Patience, Opinium, Sunak, ” James Crouch ,, Reeves, Rachel Reeves, heckler Organizations: Liverpool, England CNN —, Labour, Protesters, Labour Party, Labour Party –, Conservative, Public, Arsenal soccer, Wembley, CNN, ”, London, Tory, National Health Service, Organisation for Economic Co, Development, United Nations General Assembly Locations: England, Liverpool, Starmer’s, Opinium, Britain, New York, July’s

☆ Gold’s hitting new records again. Here’s what it means for the economy
▼ + stars: | 2024-09-25 | by ( Krystal Hur | ) edition.cnn.com time to read: +4 min

Gold, traditionally perceived as a haven, has climbed roughly 30% this year, outperforming the benchmark S&P 500 index’s 20% gain. Fresh consumer confidence data on Tuesday indicated that Americans are feeling pessimistic about the US economy and future of the job market. JPMorgan Chase researchers said in a note on Monday that they expect the yellow metal to continue running toward their 2025 target price of $2,850 an ounce as the Fed brings down rates. Silver, another precious metal that tends to move in tandem with gold, has jumped roughly 34% this year, outperforming the yellow metal. New moves from China to revive its economy also has the potential to lift precious metals, said Rhind.

Persons: Jerome Powell, ”, Kristina Hooper, JPMorgan Chase, “ There’s, Will Rhind, Rhind Organizations: New, New York CNN, Federal Reserve, Traders, JPMorgan, Treasury, GraniteShares, Citi Locations: New York, China, Turkey, India, China’s

☆ We're trimming 3 winning stocks as the market settles into overbought territory
▼ + stars: | 2024-09-25 | by ( Zev Fima | ) www.cnbc.com time to read: +4 min

Following the trade, Jim Cramer's Charitable Trust will own 265 shares of META, decreasing its weighting to 4.4% from 4.56%. As a result, the market is now overbought, with the S & P Short-Range Oscillator climbing to 7.36% as of Tuesday's close. (Anything above a plus 4% indicates the market is overbought; anything below a minus 5% indicates the market is oversold.) META YTD mountain Meta Platforms YTD We're inclined to do some profit-taking. We upgraded Meta shares to a 1 rating on Aug. 2, and they are up roughly 17% since then.

Persons: Jim Cramer's, it's, Jim Cramer, Jim Organizations: Danaher, Federal Reserve, Nasdaq, Dow Jones, Justice, Google, CNBC Locations: China

☆ I'm in my 70s and don't babysit my grandchildren. I've already done my time raising kids.
▼ + stars: | 2024-09-25 | by ( Jane Ridley | ) www.businessinsider.com time to read: +4 min

This story is available exclusively to Business Insider subscribers. In fact, the two of my three children who have kids wouldn't even dream of asking me. Now that my older children have kids of their own, they do the same thing. AdvertisementLike me, my children believe that kids who attend daycare and camps often turn out better than those brought up by grandparents. AdvertisementDo you have an interesting story to share with Business Insider grandparents and childcare?

Persons: —, Nirmala Sequeira, I'm, didn't, I've, They're Organizations: Service, Business Locations: Toronto, India, Dubai, Canada, Iceland, Mexico, Dominican Republic, Europe

CNN —Israel’s military chief told troops on Wednesday that its airstrikes in Lebanon were aiming to destroy Hezbollah’s infrastructure and to pave the way for a possible ground incursion by Israeli forces. “You hear the jets overhead; we have been striking all day,” the head of Israel’s military, Herzi Halevi, told troops while visiting the country’s northern border with Lebanon. People fleeing Israeli bombings in Lebanon wait to enter Syria through the Masnaa crossing in eastern Lebanon on Tuesday. The next day, hundreds of pagers belonging to Hezbollah militants exploded across Lebanon. These are the things that will allow us to safely return the residents of the north afterward.”

Persons: CNN —, Herzi Halevi, ”, Halevi, “, ” Halevi, Israel ramped, Hassan Jarrah, Gordin, Benjamin Netanyahu, Israel, Ibrahim Aqil, Ibrahim Qubaisi Organizations: CNN, Mossad, Getty, Israel Defense Forces, Radwan Force, Hezbollah’s Locations: Lebanon, Tel Aviv, Iran, Syria, AFP, “, Israel, Gaza, Beirut

☆ Shawn Stines: Kentucky sheriff accused of fatally shooting a judge will appear before judge today
▼ + stars: | 2024-09-25 | by ( Emma Tucker | ) edition.cnn.com time to read: +5 min

Letcher County Sheriff Shawn M. Stines, 43, was arrested at the county courthouse in Whitesburg Thursday on suspicion of fatally shooting District Judge Kevin Mullins, 54, in Mullins’ chambers. The hearing itself will be conducted by a judge in a Carter County courthouse, about 100 miles from the crime scene, according to court officials, with the Letcher County courthouse having been closed for days because of the killing. Stines’ job made him responsible for security at county courthouses, including the personal security of judges, according to the Kentucky Sheriff’s Association. Letcher County, Kentucky, District Judge Kevin R. Mullins Letcher County governmentStines and Mullins ate lunch together hours before the shooting, Circuit Court Clerk Mike Watts told CNN affiliate WKYT. The lawsuit alleges the sexual allegations against the deputy “were not appropriately investigated by Sheriff Stines,” who fired the deputy in 2022.

Persons: Shawn M, Kevin Mullins, Mullins, –, Stines, He’s, Matt Gayheart, Gayheart, Kevin R, Mike Watts, ” Watts, WKYT, We’ve, I’ve, ”, “, Sheriff Stines, Jonathan Shaw, ‘, Wallace Kincer, Matt Butler, Butler, ” Butler, General Russell Coleman’s, Jackie Steele, ” Mullins, CNN’s Andy Rose, Dalia Faheid, Dakin Andone Organizations: CNN, Kentucky Sheriff’s Association, Kentucky State Police, WKYT, Stines, Letcher County Public Schools Locations: Kentucky, Letcher County, Leslie County, Carter, Letcher, Letcher County , Kentucky, Mullins Letcher, ’

☆ These companies could be poised to start paying dividends, Morgan Stanley says
▼ + stars: | 2024-09-25 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

The Federal Reserve's move to start cutting interest rates bodes well for dividend-paying stocks, and Morgan Stanley thinks several companies are poised to join their ranks. "Equity investors are seeking durable, higher yielding dividends as market volatility is expected to continue throughout the easing cycle," wrote Morgan Stanley strategist Todd Castagno in a report last Friday. Morgan Stanley drew up a list of companies that might have what it takes to start paying dividends, drawn from stocks that boast net cash and generate a free cash flow exceeding 3%. Instacart was also seen as a potential dividend initiator by Morgan Stanley. Other companies that Morgan Stanley highlighted as potential dividend initiators include short-term vacation rental company Airbnb and biotech play United Therapeutics .

Persons: Morgan Stanley, Todd Castagno, Castagno, Morgan, Piper Sandler, James Fish, Instacart, Raymond James, Josh Beck Organizations: Equity, Companies, United Therapeutics

“Those cities are gone, they’re gone, and we continue to give billions of dollars to a man who refused to make a deal, Zelensky. The comments come at the same time as a rising furor on Capitol Hill over the Ukrainian president among Republicans. Republican leaders are so far declining to meet Zelensky while he is in Washington, DC, while Democrats are embracing the opportunity. A deal could have been made if we had a competent President,” Trump said. It’s just sloganeering.”Vance’s Republican colleagues in the Senate sent a clear message to the Ukrainian president when asked about the remark on Wednesday.

Persons: Donald Trump, Volodymyr Zelensky, “, they’re, ” Trump, Sen, JD Vance, Trump, Mike Johnson, Hakeem Jeffries, Kamala Harris, Zelensky, Biden, ”, He’s, Harris, ” “, it’s, would’ve, Vance, ” Vance, “ It’s, Shawn Ryan, Johnson, Oksana Markarova, ” Johnson, James Comer, ” Comer, ” Zelensky, ” Vance’s, John Cornyn, Mitch McConnell, Vance “, John Thune, ” CNN’s Morgan Rimmer, Ted Barrett Organizations: CNN, GOP, Republican, Zelensky, United Nations General Assembly, Ukraine, Republicans, Biden, Harris Administration, White, Department of Justice, Department of Defense, Wednesday, Pentagon, Senate Locations: Ukraine, Mint Hill, North Carolina, Pennsylvania, Russia, Washington ,, New York, it’s, United States, Yorker

☆ Video: One dead after gunman hijacks Los Angeles city bus
▼ + stars: | 2024-09-25 | by ( Hazel Tang | ) edition.cnn.com time to read: 1 min

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☆ 2 passengers were injured when United Airlines pilots responded to an inflight collision warning
▼ + stars: | 2024-09-25 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

Read previewThe FAA has opened an investigation after two passengers were injured when a United Airlines plane responded to an alert from a midair collision system. AdvertisementThe FAA said in a statement that the flight responded to an onboard alert about another aircraft in the vicinity. The Traffic Alert and Collision Avoidance System (TCAS) helps prevent midair collisions by monitoring the surrounding airspace and alerting pilots about nearby aircraft. The system sounds an alarm in the cockpit, and the pilots notify the air traffic controller that they are responding to a TCAS alarm, Kevin Karpé, a former air traffic controller and air traffic manager, previously told Business Insider. However, last year, concerns rose about a spike in the number of collision close calls taking place in the US.

Persons: —, Kevin Karpé, Karpé, it's Organizations: Service, FAA, United Airlines, San Francisco International Airport, Business, Boeing, The New York Times, The Times Locations: Newark

☆ There's a reason Diddy's famous friends have stayed silent amid his arrest. PR experts say it's the best strategy.
▼ + stars: | 2024-09-25 | by ( Callie Ahlgrim | Jacob Shamsian | ) www.businessinsider.com time to read: +11 min

But Diddy's empire began to crumble when Ventura sued Combs last year, accusing him of rape and abuse. Last week, Combs was arrested and indicted on racketeering and sex trafficking charges by federal prosecutors in Manhattan. AdvertisementSean "Diddy" Combs depicted in a courtroom sketch from September 17, 2024. Jane Rosenberg/ReutersAs discussions and theories have swirled around Combs' felony counts, his famous friends, colleagues, and labelmates have also become sources of speculation. However, according to Evan Nierman, CEO of the crisis PR firm Red Banyan , that silence is almost certainly strategic.

Persons: —, Sean, Diddy, Combs, Jennifer Lopez, Cassie Ventura, Jay, Naomi Campbell, Justin Bieber, Mary J, Blige, John Legend, Mark Wahlberg, Prince Harry, Ventura, Jane Rosenberg, There's, Damian Williams, Ricky Vigil, Justin E Palmer, Evan Nierman, Nierman, Sean Combs, they'd, disavow Combs, Chris Brown, Jeff Kravitz, Eric Schiffer, he'd, Schiffer, " Schiffer, Usher, WireImage Usher, Streisand Organizations: Service, Metropolitan Detention Center, Hollywood, Business, Prosecutors, Diddy, Management, Ventura Locations: New York's, Manhattan, Combs, publicists

☆ German Greens leadership quits after series of election blows
▼ + stars: | 2024-09-25 | by ( ) www.cnbc.com time to read: 1 min

25 September 2024, Berlin: The German Green Party leaders Omid Nouripour and Ricarda Lang resign. Photo: Fabian Sommer/dpa (Photo by Fabian Sommer/picture alliance via Getty Images)The joint leaders of the German Greens, Omid Nouripour and Ricarda Lang said they would step aside, making way for a new leadership to be elected at the next party congress. The decision comes after a series of heavy election defeats for the party, which serves in Social Democrat Chancellor Olaf Scholz's coalition.

Persons: Omid Nouripour, Ricarda Lang, Fabian Sommer, Omid, Chancellor Olaf Scholz's Organizations: German Green Party, Getty, German Greens, Social Locations: Berlin

☆ I had $1 million in the bank at 36. When I turned 40, I vowed to pursue my passions instead of running a billion-dollar company.
▼ + stars: | 2024-09-25 | by ( Kelly Burch | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. After graduation I was hired by McKinsey & Company, a management consulting firm, where I was a business analyst. I traveled the globe as an exec, but returned home for the Renaissance fair every yearI first went to a Renaissance faire on a middle school field trip. Courtesy of George ApplingFrom 2015 to 2018 I had a foot in both worlds: running the faire while also launching a tech company. But the most important thing to me is the joy that the faire and its summer camp bring to people.

Persons: —, George Appling, I'd, Sherwood, I've Organizations: Service, Texas, Business, McKinsey & Company, Harvard, Texas Renaissance, Mobile World Locations: Texas, Australia, England, Russia, Sherwood, Austin, Barcelona

☆ Stocks making the biggest moves premarket: KB Home, Hewlett Packard Enterprises, General Motors and more
▼ + stars: | 2024-09-25 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

Rithm Capital – The real estate investing stock more than 4% after announcing a secondary offering of 30 million shares. Hewlett Packard Enterprise – The technology stock added almost 3% on the back of a Barclays upgrade to overweight from equal weight. General Motors , Ford Motor – The auto stocks fell following downgrades from Morgan Stanley's Adam Jonas due to rising China competition and a weakening U.S. consumer. The analyst downgraded Ford Motor to equal weight from overweight, while General Motors was lowered to underweight from equal weight. Shares of General Motors and Ford fell roughly 3% and 2%, respectively.

Persons: FactSet, Bilibili –, Rithm, Hewlett Packard, Morgan Stanley's Adam Jonas, —, Alex Harring, Sarah Min, Lisa Kailai Han Organizations: JPMorgan, Hewlett Packard Enterprise, Barclays, Hewlett, Worthington Enterprises, General Motors, Ford, Ford Motor, General Locations: China's, U.S, China

☆ Meet the ex-Goldman wealth advisor who quit to solve Britain’s £567 billion gender investment gap
▼ + stars: | 2024-09-25 | by ( Sawdah Bhaimiya | ) www.cnbc.com time to read: +3 min

Ayesha Ofori is a former Goldman Sachs wealth advisor who quit her high-profile job to resolve Britain's gender wealth gap, after realizing she had spent her career making rich men even richer. Ofori is the 40-year-old founder and CEO of female-focused financial investment platform, Propelle, which launched on Wednesday. Britain's gender investment gap currently stands at £567 billion — an increase of £54 billion between January 2023 and January 2024 — according to data from British financial research company Boring Money which surveyed over 6,000 adults in the U.K. It found that men have £1.01 trillion invested compared with £450 billion for women. The gender pensions gap refers to the differences in retirement income or retirement wealth between men and women.

Persons: Ayesha Ofori, Goldman Sachs, Propelle, Ofori, Stefan Bollinger, Julius Baer, Lucy Demery, Goldman, wasn't, I'd, isn't Organizations: Goldman, Vanguard, Blackrock, HSBC, Google, CNBC, Barclays, Ofori Locations: Prospect, British

☆ Pro Talks: After the Fed cuts rates, one fund manager reveals where to invest right now
▼ + stars: | 2024-09-25 | by ( ) www.cnbc.com time to read: +1 min

Investors should stay away from overvalued U.S. stocks in 2025, fund manager Sean Peche has cautioned. The value investor at Ranmore Fund Management told CNBC's Silvia Amaro on CNBC Pro Talks about where he sees undervalued stocks and opportunities, especially now the U.S. Federal Reserve has cut interest rates. Pesh highlighted his fund's holdings, including Carrefour , Petrobras , Alibaba , and Baidu as value plays. Peche, who set up Ranmore Fund Management in 2008, also shared some of the worst trades of the year, as well as his most successful yet. Since inception, the fund has gained 10.9% on an annualized basis, slightly more than the 10.6% posted by its MSCI benchmark.

Persons: Sean Peche, CNBC's Silvia Amaro, Pesh Organizations: Ranmore Fund Management, CNBC Pro, U.S . Federal, Carrefour, Petrobras, Alibaba, Baidu, Ranmore, Equity, ABN Amro, Ranmore Global Equity Fund Locations: overvalued U.S, Hong Kong, United States, Carrefour, China

☆ Wisconsin mayor carts away absentee ballot drop box, says he did nothing wrong
▼ + stars: | 2024-09-25 | by ( Associated Press | ) edition.cnn.com time to read: +5 min

Madison, Wisconsin CNN —The mayor of a central Wisconsin city who ran for office on his opposition to absentee ballot drop boxes said Wednesday he did nothing wrong when he put on work gloves, donned a hard hat and used a dolly to cart away a drop box outside City Hall. Drop boxes were widely used in 2020, fueled by a dramatic increase in absentee voting due to the COVID-19 pandemic. Wausau, with about 40,000 people, was among the cities that did not use an absentee drop box in the August state primary. The Wausau drop box was under video surveillance but had not yet been bolted down. Wausau resident Pamela Bannister, speaking at a city council meeting Tuesday night, called for Diny to apologize and return the drop box.

Persons: Doug Diny, ” Diny, “ I’m, Donald Trump, Trump, Diny, Kaitlyn Bernarde, ” Bernarde, wouldn’t, he’s, “, ”, Anne Jacobson, Pamela Bannister, ” Bannister Organizations: Wisconsin CNN, Wausau, City, Republican Party, Republican, Stanford, MIT, Republicans, The, The Wisconsin Supreme, Wisconsin Elections, City Hall, U.S, Election Locations: Madison, Wisconsin, Hall, Milwaukee County, Waukesha County, Dodge County, Milwaukee, The Wisconsin, Wausau, Marathon County, ” The Wisconsin, City

☆ A boomer said he's struggling to survive on Social Security after retiring early to care full-time for his wife
▼ + stars: | 2024-09-25 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +6 min

As Americans increasingly rely on Social Security and other retirement income to get by, high medical expenses could throw years of retirement planning out of balance. AdvertisementRetiring early to be his wife's caretakerPapalia had a goal to retire in 2015 at age 65 so he could receive Social Security benefits and have enough saved that money wouldn't be a huge issue. However, in 2010, he retired to care for his wife full-time, taking a buyout from his company that lasted until 2014. Marie's medical care was expensive, and they also cared for two dogs, both of whom had costly medical issues. Scraping by and making sacrificesPapalia receives $2,132 a month in Social Security before taxes and insurance and $1,900 from his pension, while Marie gets $1,113 a month from Social Security.

Persons: —, Robert Papalia, Marie, They're, Papalia, they're, wouldn't, She's, they've, We're, it's, he's Organizations: Service, Business, BI, Social Security, Social, Security Locations: Burlington , New Jersey, New Jersey, Pennsylvania

☆ Investors should still keep emergency funds liquid after the Fed's interest rate cut, advisor says
▼ + stars: | 2024-09-25 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

After years of higher yields on cash, the Federal Reserve's shifting policy means lower future returns on savings, certificates of deposit and money market funds. Despite falling rates, investors should still keep emergency funds "liquid," meaning the cash can be easily tapped, financial experts say. Banks use the federal funds rate to lend to and borrow from one another. Meanwhile, the biggest retail money market funds were still paying around 5%, as of Sept. 24, according to Crane Data. If you have been earning 4% to 5% on emergency savings, you could see a "small reduction" in the short term, said Kenealy, who recommends keeping emergency funds where they are.

Persons: Kathleen Kenealy, Banks, Kenealy Organizations: Finance, Data Locations: Woburn , Massachusetts

☆ It looks like Sam Altman will get richer off of OpenAI after all
▼ + stars: | 2024-09-25 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

Read previewOpenAI is working to revamp its business structure so that it's no longer controlled by a nonprofit board, according to a new report. This story is available exclusively to Business Insider subscribers. The company has been controlled until now by the nonprofit board — a relic of its original launch as a nonprofit in 2015. The company is seeking to remove a cap on returns for investors, sources told Reuters. "Feels part of the necessary normalization of OpenAI into a regular corporate structure, which paves the way to an IPO."

Persons: —, Sam Altman, OpenAI, Altman, Altman hasn't, he's, OpenAI didn't, Ilya Sutskever, Jan Leike, Greg Brockman, Mira Murati, Matt Turck, who's, Ada Organizations: Service, —, Business, Reuters, Street, Senate, Busines Locations: OpenAI

CNN —New York City Mayor Eric Adams has been indicted on at least one federal criminal charge, multiple sources familiar with the matter tell CNN. The indictment follows a monthslong federal investigation into campaign fundraising violations and foreign influence. The mayor is expected to have several days to turn himself in, according to sources familiar with the case. New York City campaign finance records show Arkan donated $1,500. As part of their investigation, FBI agents seized Adams’ cell phones days after the raid on Suggs’ home.

Persons: Eric Adams, Adams, “, ” Adams, He’s, Edward Caban, Lisa Zornberg, Adams ’, Zornberg, David Banks, Brianna Suggs, Suggs, Erden Arkan, Arkan, Suggs ’, ”, Jumaane Williams Organizations: CNN, New, New York City, The New York Times, Mansion, City Hall, US, Southern, of, NYPD, Democratic Party, New York Police Department, KSK, FBI, Democratic, Turkish Locations: New York, New, of New York, America’s, City, Brooklyn, New York City, Manhattan, Adams ’, Turkish, Turkey, Üsküdar

☆ Stock market today: Dow, S&P 500 drop as rally loses steam ahead of fresh economic data
▼ + stars: | 2024-09-25 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Markets are bracing for the latest GDP revision, jobless claims, and PCE inflation data in the coming days. Traders are still pricing in considerable rate cuts well into next year, per the CME FedWatch tool. AdvertisementUS stocks were mostly lower on Wednesday, ending a record-setting streak of gains as traders looked ahead to coming economic data. The Dow Jones Industrial Average fell nearly 300 points and the S&P 500 slipped from record highs, ending the day about 0.2% lower. Traders are still expecting steep rate cuts over the course of the next year.

Persons: —, Scott Wren, Wells Organizations: Traders, Service, Dow Jones, Nasdaq, Treasury, US, Micron Technologies, Micron Locations: Wells Fargo, East, Ukraine

☆ Two major analysts called this boring telecom stock their top pick in two days
▼ + stars: | 2024-09-25 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +1 min

Just two days after Goldman Sachs named AT & T its top telecom pick, JPMorgan reiterated it as one of its best ideas. JPMorgan analyst Sebastiano Petti called AT & T a broader "value pick" as it currently trades on a valuation discount relative to other names in the sector. AT & T's ongoing fiber optic additions in its broadband businesses well position it for long-term growth, Petti added. Both Petti and Goldman Sachs analyst James Schneider highlighted a potential share buyback announcement as a positive catalyst for shares. "We expect positive wireless results and potentially a capital allocation announcement with the initiation of a buyback.

Persons: Goldman Sachs, Sebastiano Petti, Petti, James Schneider, Schneider, JPMorgan's Petti Organizations: JPMorgan, 5G Locations: Petti, Tuesday's

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