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The economy added 150,00 jobs in October, suggesting a mild slowdown following September’s outsized gain, the Labor Department reported on Friday. Nonfarm payrolls comes in a bit light, downward revisions to previous 2 months and wage growth on the low end. On the margin it feels like it has softened up, but it's still a mighty hot job market,” says Steve Preston, CEO of Goodwill Industries. The Federal Reserve has been looking to the labor market for signs it has reached a better balance between supply and demand than a year ago. Chairman Jerome Powell noted that the labor market has remained strong even as interest rates have risen at a sharp pace over the past year.

Persons: ”, Noah Yosif, Nonfarm payrolls, ” Kathy Jones, it's, Steve Preston, ” Preston, Geno Cutolo, Scott Hamilton, ” Hamilton, Jerome Powell, “ We've Organizations: Labor Department, UKG, ”, Schwab Center, Financial Research, Goodwill Industries, Federal Reserve, Labor Locations: North America

☆ CNBC Daily Open: A perfect day for markets and a falling Apple
▼ + stars: | 2023-11-03 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

In this article AAPL Follow your favorite stocks CREATE FREE ACCOUNTTim Cook, chief executive officer of Apple Inc., holds an iPhone 15 Pro Max during an event at Apple Park campus in Cupertino, California, US, on Tuesday, Sept. 12, 2023. David Paul Morris | Bloomberg | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. What you need to know todayThe bottom lineIt was an astounding day for markets, with everything falling into place as perfectly as investors could have hoped for. Labor costs actually fell for a three-month period ending September — compared with an expected increase — while unemployment claims ticked up.

Persons: Tim Cook, Max, David Paul Morris, Stocks, there's, it's Organizations: Apple Inc, Apple, Bloomberg, Getty, CNBC, Treasury, U.S, Labor, Dow Jones, Nasdaq Locations: Cupertino , California, U.S

The monthly data does comes with a footnote: The headline job gains of 150,000 were depressed by a United Auto Workers strike. But even accounting for that the number was close to the 183,000 monthly pace of job growth sustained for the 10 years before the pandemic, from 2010 to 2019, and to that extent looked "normal" after years of outsized job gains. The pace of annual wage growth eased down to 4.1% in October in a continuing decline, while the month-to- month increase of 0.2% annualizes to around 2.4%, within the Fed's comfort zone. If labor force growth is coupled with an easing of open jobs, it could show a job market moving closer to balance. But if consumption remains strong and drives still-high numbers of openings, then a stall in labor force growth could reignite wage pressures.

Persons: Jerome Powell, Howard Schneider, Andrea Ricci Organizations: Federal Reserve, United Auto Workers, Reuters Graphics Reuters, Reuters, Thomson Locations: U.S

NEW YORK (AP) — The National Retail Federation, the nation’s largest retail trade group, expects holiday sales growth will slow to a range of 3% to 4%, compared with 5.4% growth of a year ago. For the holiday 2021 season, sales for the two-month period surged 12.7%. Analysts say that shoppers could become rattled if the Israel-Hamas war is not contained, particularly heading into the critical holiday season. Political Cartoons View All 1230 ImagesThe forecast from the retail trade group considers a variety of indicators including employment, wages, consumer confidence, disposable income, consumer credit, previous retail sales and weather. The consulting firm Deloitte expects holiday sales to jump between 3.5% and 4.6%.

Persons: It's, Craig Johnson, They’re, Kohl’s, It’s, ”, Christie Raymond, “ We’re, they’ve, they’re Organizations: National Retail Federation, Analysts, Federal, Federal Reserve, Fed, Mastercard SpendingPulse, Deloitte, Growth Partners, clogs Locations: Israel

☆ Opinion | Christian Nationalism ‘Is No Longer Operating Beneath the Surface’
▼ + stars: | 2023-11-01 | by ( Thomas B. Edsall | ) www.nytimes.com time to read: +1 min

Mike Johnson is the first person to become speaker of the House who can be fairly described as a Christian nationalist, a major development in America history in and of itself. Equally important, however, his ascension reflects the strength of white evangelical voters in the House Republican caucus, voters who are determined to use the power of government to roll back the civil rights, women’s rights and sexual revolutions. “If anything, it shows us that white evangelicals still have a very strong hold on the modern Republican Party. In the 1970s, mainline Protestants dominated at 46 percent, compared with evangelical Protestants at 24 percent and Catholics at 19 percent. By the decade of the 2010s, evangelical Protestants were a commanding 38 percent of Republicans, mainline Protestants had fallen to 17 percent and Catholics had grown to 25 percent.

Persons: Mike Johnson, “ Johnson, ” Ryan Burge, ”, ” Burge Organizations: Republican, Eastern Illinois University, American Baptist Church, Republican Party Locations: America, United States

WASHINGTON (AP) — Senate Majority Leader Chuck Schumer and 22 other Democratic senators are urging federal regulators to investigate multibillion-dollar acquisitions by oil giants ExxonMobil and Chevron, saying the deals could lead to higher prices at the gas pump. “These deals are likely to harm competition, risking increased consumer prices and reduced output throughout the United States,'' the senators wrote. Chevron, Exxon and other oil companies have announced huge profits from strong energy prices and demand since Russia’s invasion of Ukraine in February 2022. Exxon reported $9.1 billion in profits in the quarter that ended Sept. 30, while Chevron reported $6.5 billion in profits. Environmental groups hailed the call for an investigation of what some called “merger mania” within the oil industry that threatens competition.

Persons: Chuck Schumer, Exxon's, Chevron’s, Minnesota Sen, Amy Klobuchar, Elizabeth Warren of Massachusetts, Bernie Sanders, Chevron, Hess, Lukas Ross, ”, ” API's Bethany Williams, Schumer Organizations: WASHINGTON, ExxonMobil, Chevron, Federal Trade Commission, Natural Resources, Hess Corp, Exxon, FTC, Resources, Big Oil, American Petroleum Institute, Senate Commerce, Science, Transportation Locations: United States, Minnesota, Sens, Vermont, Ukraine, Texas, U.S, New York

☆ Why Wall Street Is So Worried About ‘Refunding’
▼ + stars: | 2023-11-01 | by ( Joe Rennison | More About Joe Rennison | ) www.nytimes.com time to read: +1 min

Investors this week have fixated on a routine quarterly announcement of how the government plans to finance itself, a sign of how sensitive Wall Street has become to a rapid run-up in interest rates. On Wednesday, the Treasury Department said in its latest “refunding” announcement that it would issue an elevated amount of short-term debt later this month. It had earlier announced that it plans to borrow $776 billion in the last three months of the year, more than it ever has in the fourth quarter, to keep up with government spending and rising interest payments. The outsized attention on the Treasury Department’s announcement comes as a sharp rise in rates has pushed up the cost of government debt. The benchmark 10-year Treasury yield, indicative of what the government pays to borrow money for a decade, has risen by three-quarters of a percentage point since early August, the last time the Treasury Department updated the markets on its borrowing plans.

Organizations: Treasury Department, Treasury

VIRGINIA BEACH, Va. (AP) — A power company's plans for an enormous offshore wind farm off Virginia's coast gained key federal approval Tuesday after the Biden Administration evaluated the project's potential impact on the environment. The utility will still need federal approval of its construction and operation plans before more pilings rise above the Atlantic Ocean. Dominion said its project will be the largest offshore wind farm under development in the United States. The administration said it wants to build 30 gigawatts of offshore wind energy by 2030 — enough to power more than 10 million homes. The Southern Environmental Law Center cited the importance of offshore wind for cutting carbon pollution, which fuels climate change.

Persons: what's, “, Deb Haaland, Joe Biden's, Glenn Youngkin, Will Cleveland, Michael Town, ” Organizations: Biden Administration, Dominion Energy, of Ocean Energy Management, Dominion, Interior Department, Republican Gov, Southern Environmental, Virginia League of Conservation Voters Locations: VIRGINIA BEACH, Va, Virginia's, Atlantic, Virginia Beach, United States, Virginia

“We won things no one thought possible," UAW President Shawn Fain said when he announced the tentative agreement last week. More recently, Ford, GM and Stellantis were all offering 23% total pay increases. For historical comparison, the union said its workers saw pay increases of 23% for all the years from 2001 through 2022. SHORTER WORK WEEKThe UAW asked for a shorter work week — 40 hours of pay for 32 hours of work. RIGHT TO STRIKEThe union said it won the right to strike against any of the three companies over plant closures.

Persons: “, Shawn Fain, Ford's, Fain, Ford, ” Organizations: United Auto Workers, Ford, General Motors, GM, UAW, Ultium, LG Energy Locations: U.S, Michigan, Korea

☆ The boomer market boon
▼ + stars: | 2023-10-30 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

With that in mind, Bank of America has a way the rest of us can cash in on the boomer boon, writes Insider's Aruni Soni. Millennials vs. boomer spending Bank of AmericaIf you don't want to invest in boomers, you could always just invest like them. Regardless of what you decide to do with your money, just don't bank on getting more of it from your relatives. The billionaire hedge fund boss and owner of the New York Mets isn't expecting a deep recession or prolonged market downturn. The Insider Today team: Dan DeFrancesco, senior editor and anchor, in New York City.

Persons: —, John Knox, Joe Raedle, boomers, They're, Insider's Aruni Soni, Treasurys, Insider's Filip De Mott, Cuban, Neil Cavuto, Steven Ferdman, Charlie Munger, Bill Ackman, Michael Baron, Steve Cohen, Linda Yaccarino, Elon Musk, Jerod Harris, Jenny Chang, Rodriguez, it's, Arantza Pena, Taylor Swift, Devin Booker, John Adams, Diego Maradona, Ivanka Trump, Keyatta Mincey, Parker, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Bank of America, of America, Big Tech, Fox Business Network Studios, Dallas Mavericks, New York Mets, Elon, Elon Musk's, Microsoft, Google, Amazon Web Services, Kansas, HSBC Locations: Pompano Beach , Florida, New York City, Phoenix , Arizona, Local Kansas City, Kansas City, McDonald's, San Diego, London, New York

☆ Magnificent Seven are masking a rough market. Jim Cramer says these 3 stocks are buys
▼ + stars: | 2023-10-30 | by ( Zev Fima | ) www.cnbc.com time to read: +5 min

The "Magnificent Seven" mega-cap tech names that grab all the headlines and rule Wall Street with their outsized influence have been masking a pretty rough year for everything else. However, under the hood, the S & P 500 index that gives all its stocks the same power may be more reflective of these risks than some strategists are giving them credit for. We do take cues from the overall market on whether the market is overbought or oversold. Coming into Monday, our closely watched S & P 500 Short Range Oscillator continued to flash oversold. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Morgan Stanley, Mike Wilson, Wilson, Jim Cramer, Jim, there's, Jim Cramer's, Michael Nagle Organizations: Microsoft, Nvidia, Club, Apple, Broadcom, Honeywell, CNBC, Bloomberg, Getty Locations: Ukraine, AVGO

Seoul marked a somber anniversary over the weekend, a year after nearly 160 people died in a crowd surge in Itaewon, a popular nightlife district in the city. Oct. 29, 2022, had started as a long-awaited Halloween celebration — the first in several years in South Korea that was free of pandemic restrictions. A mass of revelers and a bottleneck of human traffic in a cramped alley that night led to catastrophe, and a national outpouring of grief and questions about why the authorities were unable to prevent it. This year, the gathering in Itaewon was much smaller. Several neighborhoods in Seoul saw an outsized police presence.

Locations: Seoul, South Korea, Itaewon

☆ Jobs and earnings are major themes next week as we consider more portfolio moves
▼ + stars: | 2023-10-28 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

But in the end, it's fundamentals that drive earnings and earnings that drive stock prices. Looking ahead to next week, we'll get several important macroeconomic updates along with nine Club earnings reports. Economic releases Next week is Jobs Friday when we get the government's monthly nonfarm payrolls report. Club stock earnings Club name Caterpillar (CAT) reports third-quarter results before the opening bell Tuesday. DuPont (DD) is set to report earnings.

Persons: it's, we'll, nonfarm payrolls, We'll, Estee Lauder, Eli Lilly, BUD, Jerome Powell, Kraft Heinz, WEN, Papa John's, Dwight Co, Jim Cramer's, Jim Cramer, Jim, Brendan Mcdermid Organizations: Caterpillar, GE Healthcare, DuPont, Bausch Health, Starbucks, Apple Watch, VF Corp, GE HealthCare, Pfizer, JetBlue, Anheuser, Busch InBev, Devices, Caesars Entertainment, Cruise, CVS Health, Brinker International, Yum Brands, PayPal, Qualcomm, Mondelez, Novo Nordisk, Barrick, Penn Entertainment, Paramount Global, Marriott, Ferrari, Molson Coors, TAP, Coinbase, Natural Resources, Booking Holdings, International, Monster Beverage, Health, Resources, Dwight, Restaurant Brands, Sempra Energy, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange Locations: North America, China, New York City, U.S

☆ Here's 3 reasons why Wall Street giants say investors should pay attention to Treasurys as yields soar
▼ + stars: | 2023-10-28 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

The 10-year Treasury yield topped 5% for the first time since 2007 this week. The gap between higher dividend yield stocks and the 10-year US Treasury yield has completely closed. Bond yields probably aren't falling soonTreasury yields are likely staying elevated, thanks to the Fed's committement to keeping a lid on inflation. Central bankers have raised rates 525 basis-points over the past year to lower high prices, which has helped pushed Treasury yields higher. Other market forecasters have warned of more trouble ahead in equities, especially as higher bond yields draw investors away from the stock market.

Persons: —, Goldman Sachs, there's, they've Organizations: Treasury, Service, Bank of America, Goldman, Goldman Sachs Global Investment Research, Vanguard

☆ A renowned market bear who called the dot-com bubble shares 3 warning signs that the economy is crumbling despite upbeat data, putting stocks at risk of further downside
▼ + stars: | 2023-10-28 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

The S&P 500 is up 7.6% year-to-date. Only about 40% of analyst ratings changes for S&P 500 companies are upgrades. While the S&P 500 is up over 7% this year, Edwards cited it as another data point covering up the economy's true health. Their outsized contribution to the index's performance is evidenced by the returns of the S&P 500 equal-weighted index, Edwards said, which is down by 5% this year. In the equal-weighted index, each individual S&P 500 constituent's performance impacts the overall index's performance the same.

Persons: Albert Edwards, " Edwards, Edwards, Freddie Kruger, —, Russell Organizations: Generale Chief Global, Societe Generale They're, Societe Generale, National Federation for Independent, Institute, Supply, Apple, Microsoft, Nvidia, Tesla, RBC Capital Markets

☆ The shaky stock market is making Americans feel uneasy
▼ + stars: | 2023-10-27 | by ( Bryan Mena | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —Americans’ moods soured this month, largely due to a wobbly stock market. The survey also showed that Americans became more pessimistic about the economy’s outlook for the year ahead. The tech-heavy Nasdaq tilted into correction territory Thursday as shares of some Big Tech companies slipped. Meanwhile, Americans’ inflation expectations for the year ahead worsened in October, jumping to 4.2% from 3.2% in September, the highest reading since May. The Federal Reserve pays close attention to inflation expectations, particularly longer-term expectations.

Persons: Joanne Hsu Organizations: DC CNN, University of Michigan’s, Consumers, Investors, Federal Reserve, Treasury, Meta, Microsoft, Google, Big Tech, Apple, Nvidia, Fed Locations: Washington

"Giselle," the Romantic ballet whose title role Alonso is best known for and performed through her 70s, will cap a special gala on Oct. 28, the anniversary date, at the National Theater of Cuba. "Ballet was never (for the) elite in Cuba," said Leonardo Vinageras, a Havana resident and ballet aficionado who attended a recent anniversary event. A ballet dancer warms up backstage before performing "Giselle" during the 27th Alicia Alonso International Ballet Festival of Havana, at the National Theatre, in Havana, Cuba, October 30, 2022. Alonso founded her namesake National Ballet Academy in Cuba in 1948 soon after becoming a star in the New York company that would become the American Ballet Theatre. Inspired by Fidel Castro, Alonso identified herself with his 1959 revolution and moved permanently to Cuba, becoming allies in popularizing ballet with strong government support for the renamed National Ballet of Cuba.

Persons: Alicia Alonso, Giselle, Alonso, Leonardo Vinageras, Alexandre Meneghini, King Louis XIV, Viengsay Valdés, Carlos Acosta, José Manuel Carreño, Fidel Castro, Grettel Morejon, Anett Rios, Alien Fernandez, Richard Chang, David Sherwood, David Gregorio Our Organizations: Ballet, Communist, National Theater of Cuba, Company, of, National Theatre, REUTERS, Bolshoi, Mariinsky, National Ballet of, National Ballet Academy, New York, American Ballet, National Ballet of Cuba, Thomson Locations: HAVANA, Cuba, Havana, of Havana, National Ballet of Cuba

☆ Bank of America’s investment strategist says the S&P 500 correction could last until it hits this level
▼ + stars: | 2023-10-27 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

The stock market could see further damage if one key index can't hold an important technical level, according to Bank of America investment strategist Michael Hartnett. Looking at several key indexes, Hartnett said in a client note Thursday that selling pressure has persisted even in less tech-sensitive parts of the market, specifically citing the S & P 500 Equal-Weighted index. If that can't hold onto the 5,540 level — it closed Thursday at 5,501 — it could signal further pressure on the more widely followed S & P 500 market-cap weighted index. .SPX YTD mountain S & P 500, YTD While still up 7.8% for 2023, the S & P 500 has tumbled about 14% from its all-time high. However, Harnett said he won't get bullish until the "3Ps" kick in: "bearish positioning combines with recessionary Profits to Policy easing."

Persons: Michael Hartnett, Hartnett, Harnett Organizations: Bank of America, Wall Locations: Thursday's

☆ These Nasdaq stocks are already in a bear market, including Tesla and Airbnb
▼ + stars: | 2023-10-26 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

CNBC Pro recently screened for a list of these stocks, shown here: The list of names includes Tesla, which is down 29% from its 52-week high in July. Even Morgan Stanley's Adam Jonas, who has an outlier overweight position on the stock, trimmed his price target to $380 from $400. Another name on the list was Enphase Energy , which is down 72.2% from its 52-week high on Dec. 5. Dollar Tree is off 36% from its 52-week high in November 2022. The accompanying price target of $137 corresponds to a potential 26.5% upside from Wednesday's close.

Persons: Morgan Stanley's Adam Jonas, Bernstein's Toni Sacconaghi, Tesla, Justin Patterson, SolarEdge, Enphase, Goldman Sachs, Michael Bloom Organizations: Nasdaq, it's, CNBC Pro, Wall, KeyBanc Capital, Enphase Energy, Daiwa

☆ US markets sink as tech stocks sell off
▼ + stars: | 2023-10-26 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +2 min

New York CNN —US stocks fell Thursday morning under the pressure of disappointing third-quarter results from Big Tech companies and high Treasury yields. Shares of Meta slid about 2.6% on Thursday morning after the Facebook parent company reported that advertising revenue had been soft this quarter. Shares of other big tech companies fell alongside Meta and Alphabet. The top tech companies in the US — Apple, Amazon, Nvidia, Microsoft and Alphabet — combine to make up a quarter of the S&P 500’s value, giving them an outsized impact on investors’ portfolios. Tech stocks have also felt the impact of rising Treasury yields.

Persons: Dow, Wall Organizations: New, New York CNN, Big Tech, Nasdaq, Meta, Facebook, Reality Labs, Google, Microsoft, Apple, Nvidia, Gross, Commerce Department Locations: New York

☆ Detained Ukraine tycoon Kolomoisky gives up control of 1+1 Media for five years
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Vladyslav Musiienko/File Photo Acquire Licensing RightsOct 26 (Reuters) - Billionaire tycoon Ihor Kolomoisky who is in custody on suspicion of fraud has transferred control over 1+1 Media, one of Ukraine's largest media groups, to its general director for five years, the group said on Thursday. The decision was taken on Monday as Kolomoisky is currently unable to fully carry out his duties, the group said. But Russia's invasion has eaten into their influence, destroying industrial assets in the east and south, while the television channels they controlled have been broadcasting under a centralised signal since Moscow's February 2022 attack. Kolomoisky's media group owns the 1+1 television channel, which has been one of the most influential and viewed channels in Ukraine for decades. The group also inclusdes a number of other TV channels, media resources such as the UNIAN information agency and production units.

Persons: Ihor Kolomoisky, Vladyslav, Kolomoisky, Volodymyr Zelenskiy, Yuliia Dysa, Nick Macfie Organizations: REUTERS, Soviet Union, Thomson Locations: Ukraine, Kyiv, Soviet

☆ The stock market is riskier and more volatile than it was in past decades. Here's why.
▼ + stars: | 2023-10-26 | by ( Aruni Soni | ) www.businessinsider.com time to read: +4 min

The S&P 500 has become more volatile in recent years, according to research firm DataTrek. The bigger factor is the massive growth of big tech stocks that make up more and more of the S&P 500. "The S&P 500 has become noticeably more volatile over the last +60 years, but returns have not increased commensurately," DataTrek said in a note published Thursday. AdvertisementAdvertisementHere's why the research firm sees higher risk in the stock market today than in past eras. Unexpected developments hit harderAnother explanation is that the market in recent years has had an outsized reaction to unanticipated developments relative to past eras.

Persons: —, DataTrek, Apollo, Torsten Sløk Organizations: Service, Apple, Microsoft, Nvidia, Tesla, Big Tech, Data, GameStop

☆ Premarket stocks: Big Tech earnings can make or break this market
▼ + stars: | 2023-10-25 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

New York CNN —In an unstable economic climate marked by geopolitical unrest, concerns about the Federal Reserve and soaring Treasury yields, investors are closely watching this week’s Big Tech earnings for clues about where the volatile stock market may head next. That means investors are watching their earnings particularly closely for prognostications about where the market is headed next. Big tech controls the market: Excluding Big Tech, the average earnings for S&P 500 companies would drop by 5% this quarter, according to Bloomberg Intelligence data. “Big Tech valuations pose risks for the broader markets, as Big Tech has contributed to almost all of the stock market’s year-to-date gains,” said David Bahnsen, chief investment officer of the Bahnsen Group. “This lack of market breadth suggests that investors are still highly prone to chasing momentum and getting overly excited about different market themes and stories, such as artificial intelligence.”It also suggests that there’s not a lot of room for any Big Tech earnings missteps.

Persons: —, ”, David Bahnsen, there’s, Louis Navellier, Matt Egan, ” Brian Nelson, Samantha Murphy Kelly Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Big Tech, Microsoft, Google, Nvidia, Apple, Bloomberg Intelligence, Bahnsen, Navellier, Associates, Treasury Department, Gulf Cooperation, United, United Arab Emirates, Saudi, GCC, Treasury, Hamas, United Arab, Mac, IDC Locations: New York, States, Saudi Arabia, Qatar, Kuwait, Oman, Bahrain, United Arab, Israel, US, Riyadh, United States, Sudan, Algeria, Turkey, United Arab Emirates, Treasury’s

☆ Inside the courtroom as Donald Trump is forced to take the stand, is fined and then storms out
▼ + stars: | 2023-10-25 | by ( Jeremy Herb | Lauren Del Valle | ) edition.cnn.com time to read: +7 min

Engoron asked Trump if he would like to be on the witness stand. Trump didn’t hesitate, pushing back his seat at the defense table instantly to stand and walk into the witness box. Once Trump was on the stand, Engoron put on his lawyer hat and launched into a calm interrogation of the former president, reading back what Trump had told reporters outside the courtroom only hours earlier. “You and Cohen,” Trump said. “We won this trial,” Trump said before leaving the hallway.

Persons: Arthur Engoron, Donald Trump, –, Engoron, Donald J, Trump, ” Trump, Michael Cohen, Trump’s, “, ” Engoron, Cohen, ”, Chuck Schumer, Cohen “, fining, Honig, couldn’t, Alina Habba, ” Habba, “ I’ve, Cliff Robert, Habba, Robert, would’ve, ” CNN’s Sabrina Souza Organizations: New, New York CNN, Trump, White House, CNN, New York Democrat, fining Trump Locations: New York, York, Trump, trier

The International Energy Agency (IEA) said in its World Energy Outlook 2023 report released on Tuesday that China is reaching an inflection point and its total energy demand is likely to peak around the middle of this decade. But the sheer scale of China's energy demand means that even though it's making vast strides to deploy renewables and electrify its vehicle fleet, it will still be consuming vast quantities of fossil fuels for decades to come. "In our scenarios, China's GDP growth averages just under 4% per year to 2030," the IEA said. "This results in its total energy demand peaking around the middle of this decade, with robust expansion of clean energy putting overall fossil fuel demand and emissions into decline." This means that from a climate change perspective, encouraging and supporting China's energy transition is probably the most meaningful goal that can be achieved.

Persons: it's, It's, Sam Holmes Organizations: International Energy Agency, Energy, IEA, Reuters, Thomson Locations: LAUNCESTON, Australia, China, Europe

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