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☆ Global oil spare capacity offsetting tightening effects from geopolitical disruptions: Daan Struyven
▼ + stars: | 2024-10-03 | 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 EmailGlobal oil spare capacity offsetting tightening effects from geopolitical disruptions: Daan StruyvenDaan Struyven, Goldman Sachs co-head of global commodities research, joins 'Squawk Box' to discuss the state of the oil market, latest oil price trends, energy market volatility, impact of MIddle East conflict, and more.

Persons: Daan Struyven, Goldman Sachs

☆ Active bond funds put up a strong performance — and they may be poised to stand out as rates fall
▼ + stars: | 2024-10-03 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +5 min

Over the 12-month period ending June, about 2 of 3 active bond managers trounced their average passive counterpart, according to a recent analysis from Morningstar . There were a few tailwinds in active managers' favor. With the Fed recently cutting rates by a half point — and Chair Jerome Powell noting that two more quarter-point cuts could be in the cards this year — a new challenge awaits these active bond funds. As interest rates fall, active managers can position accordingly, said Roger Hallam, global head of rates at Vanguard. "We expect active managers to make a little more, and they should be because they're doing more trades and it costs more to manage active portfolios," said Olmsted.

Persons: —, Ryan Jackson, Jerome Powell, it's, Jackson, Paul Olmsted, Roger Hallam, wouldn't, Hallam, Morningstar, Olmsted Organizations: Federal Reserve, Morningstar, Vanguard, Bond Fund, SEC

☆ Typhoon Krathon: Two killed as slow moving storm slams into southern Taiwan
▼ + stars: | 2024-10-03 | by ( Chris Lau | Eric Cheung | ) edition.cnn.com time to read: +3 min

With winds of up to 135 kilometers per hour (85 miles per hour), Typhoon Krathon made landfall along southern Taiwan shortly after noon on Thursday, the equivalent of a Category 1 Atlantic hurricane. The other was a 70-year-old man who fell while trimming a tree during the typhoon, according to the center. A man runs amid heavy rain and powerful winds, as Typhoon Krathon makes landfall in the port city of Kaohsiung, Southern Taiwan, on October 3, 2024. Daniel Ceng/Anadolu/Getty ImagesFor several hours before making landfall, Krathon moved slowly along the southern coast. Strong winds knock down trees during Typhoon Krathon in Kaohsiung.

Persons: Krathon, Daniel Ceng, Lai Ching, Chen Chi, “, Liao Shian, ”, Julien Organizations: Taiwan CNN, Emergency Operations Center, Getty, Taiwan, Ministry of Economic Affairs, Taiwan . Schools, AFP, CNA, Getty Images University, Reuters, Philippine News Agency Locations: Taipei, Taiwan, Kaohsiung, Kaohsiung , Southern Taiwan, Anadolu, Philippines, Krathon, Tainan, Stringer

☆ Next solar eclipse: When and where to view the celestial event
▼ + stars: | 2024-10-03 | by ( Jackie Wattles | Ashley Strickland | ) edition.cnn.com time to read: +4 min

The silvery orb is near or at the farthest point in its orbit from our planet, so it can’t completely block the sun as it does during a total solar eclipse. Another annular solar eclipse will arrive on February 17, 2026. Finally, a total solar eclipse — such as the one that drew millions of spectators across North America last April — will once again grace the skies on August 12, 2026. To witness any of these solar eclipse events, be sure to use certified eclipse glasses or a handheld solar viewer to shield your eyes from the sun’s harmful rays and observe the event safely. But don’t look through any optical device — camera lens, telescope, binoculars — while wearing eclipse glasses or using a handheld solar viewer, according to NASA.

Persons: —, Greg Wood Organizations: CNN, South America, NASA, North America, Getty, New Zealand, Democratic Locations: South, United States, Canada, Greenland, Iceland, Europe, Africa, Oceania, New Zealand, Fiji, Australia, Antarctica, South America, Cove, AFP, Russia, Spain, Portugal, North America, New, Namibia, Botswana, South Africa, Lesotho, Nigeria, Cameroon, Chad, Sudan, Egypt, Saudi Arabia, Iran, Afghanistan, Pakistan, India, China, North Korea, South Korea, Japan, Angola, Democratic Republic of Congo, Uganda, Kenya, Somalia, Malaysia, Indonesia, Brunei, Philippines

☆ 4:30 a.m. wakeups and scary speakers: Inside Apollo's tactics to prepare its workers for an uncertain future
▼ + stars: | 2024-10-03 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +7 min

Rowan said the firm is testing new tactics to motivate employees to "play to win." Here's how and why the firm has turned to frozen yogurt and 4:30 a.m. wakeups. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Advertisement"We believe that assets are what is going to be scarce rather than capital," Rowan said, referring to an environment of more limited investment opportunities.

Persons: Rowan, —, Marc Rowan, We've, Lehman, I've, They're, it's Organizations: Service, New, Apollo, Nvidia, that's

☆ OpenAI has secured a $157 billion valuation. Now comes the hard part.
▼ + stars: | 2024-10-03 | by ( Hasan Chowdhury | Riddhi Kanetkar | ) www.businessinsider.com time to read: +7 min

OpenAI is now worth $157 billion, but it can't rest easy yet. Now comes the hard part: emerging victorious in a fiercely competitive AI industry. Though Sam Altman's company cemented its status as a frontrunner in the generative AI boom this week, securing a new $157 billion valuation after raising $6.6 billion of fresh capital from marquee investors, its leading position is hardly guaranteed. Sure, Altman's company now casts a massive shadow over the industry with its fresh $157 billion valuation. AI companies have been spending huge sums to purchase chips from Jensen Huang's Nvidia.

Persons: OpenAI, —, Sam Altman's, Sam Altman, Andrew Caballero, Reynolds, Altman, Elon Musk's, Ilya Sutskever, Nathan Benaich, Dario Amodei, Jensen, Jeff Chiu, Benaich, it's, VCs Organizations: Service, Valley's, Financial, Nvidia, SoftBank, Microsoft, Elon, Air Street Capital, The New York Times, Google, Big Tech, Meta Locations: Silicon Valley, AFP

☆ We move states every couple of months for my wife's work. We feel at home regardless of where we go.
▼ + stars: | 2024-10-03 | by ( Kari Porter | ) www.businessinsider.com time to read: +5 min

In 2022 my wife and I uprooted our lives and started moving for work. AdvertisementThree months ago, my wife and I stared into the living room of a new house in a new state. Not to mention, Kansas City was where I grew up. Sonoma started to feel like home. We've experienced culture shocksWe went home to Kansas City for a couple of months where we were on a high from being newly engaged and spending the holidays with family and friends.

Persons: She's, —, we've, we'd, We've, It's, we'll, I've Organizations: Service, Kansas City Locations: Pacific Northwest, Kansas City, Sonoma , California, Farmington , New Mexico, Tacoma , Washington, , Kansas City, Sonoma, Farmington, Kansas, Tacoma

☆ The positives in the market outweigh the negatives, says U.S. Bank's Eric Freedman
▼ + stars: | 2024-10-03 | 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 EmailThe positives in the market outweigh the negatives, says U.S. Bank's Eric FreedmanEric Freedman, U.S. Bank Asset Management CIO, joins 'Squawk Box' to discuss the latest market trends, outlook for 2025, whether the secular bull market can continue, and more.

Persons: Bank's Eric Freedman Eric Freedman Organizations: Bank Asset Management

☆ Lionel Messi lifts Inter Miami to first Supporters’ Shield in 3-2 victory against Columbus Crew
▼ + stars: | 2024-10-03 | by ( Amy Woodyatt | ) edition.cnn.com time to read: +2 min

CNN —Lionel Messi led Inter Miami to its first ever Supporters’ Shield with a 3-2 victory over the Columbus Crew Wednesday night, winning his second title with the club and his 46th overall. Messi shoots against the Columbus Crew. In finishing top of the regular-season table, Miami has secured home-field advantage in the MLS Cup Playoffs. “So proud to see our players lift the Supporters Shield after a great win in Columbus,” Miami co-owner and former England international David Beckham wrote on Instagram. “Another amazing achievement in the history of this football club and so happy to bring this trophy to the best fans in the League.

Persons: Lionel Messi, Luis Suárez, Columbus, Diego, Cucho Hernández, ” Messi, “, Messi, Jason Mowry, David Beckham, ” Organizations: CNN, Inter Miami, Columbus Crew, Miami, Apple TV, MLS, England, League Locations: Barcelona, Columbus, ” Miami

☆ Bridging the U.S. political divide: Tribalism impact on politics and college campuses
▼ + stars: | 2024-10-03 | 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 EmailBridging the U.S. political divide: Tribalism impact on politics and college campusesMichael Morris, Columbia University professor and ‘Tribal’ author, joins 'Squawk Box' to discuss tribalism in the U.S., the impact it has on the U.S. political landscape, college campuses, and more.

Persons: Michael Morris Organizations: Columbia University Locations: U.S

☆ October surprises are piling up, but a toss-up race seems impervious to shocks
▼ + stars: | 2024-10-03 | by ( Stephen Collinson | ) edition.cnn.com time to read: +14 min

The trio of tests facing Harris comes with potential economic, political and humanitarian consequences if the administration errs. And the new scrutiny of Trump’s behavior after the 2020 election could cause some voters to again question his fitness for the Oval Office. Former President Donald Trump speaks during a campaign event at Dane Manufacturing in Waunakee, Wisconsin, October 1, 2024. NONE OF THIS HAPPENED WHILE I WAS PRESIDENT!” Trump wrote on Truth Social on Tuesday. But Trump has already tried to manipulate the tragedy for political gain, accusing Biden of “sleeping” following the storm.

Persons: Donald Trump, Kamala Harris, Biden, Hurricane Helene, Trump, Jack Smith, ’, Harris, Kamil Krzaczynski, Trump’s, ” Smith, Smith, ” Trump, Steven Cheung, JD Vance couldn’t, Augusta Mayor Garnett Johnson, Brendan Smialowski, Joe Biden, Helene, Amir Cohen, Hassan Nasrallah, Benjamin Netanyahu’s, Netanyahu’s, Netanyahu, “, ”, There’s, egging Netanyahu, Spencer Platt, “ Donald Trump …, Still, Mandel Ngan, they’ve, Brian Kemp, ” Biden, we’re Organizations: CNN, Oval, Dane Manufacturing, Getty, Trump, ”, Radical Democrats, Republican, Augusta, Democratic, White, Reuters, Wednesday, Democratic Party, Port, International Longshoremen’s Association, Biden, Republican Party, GOP, Raleigh Emergency Operations Center, Pentagon, National Guard, Georgia Republican Gov Locations: Hurricane, Waunakee , Wisconsin, AFP, Meadowbrook, Augusta , Georgia, Iran, Israel, United States, Tehran, Russia, Ukraine, Ashkelon, Lebanon, Gaza, Islamic Republic, Washington, Michigan, New York, Newark, Staten Island , New York, Gulf Coast, Raleigh , North Carolina, Georgia, North Carolina

☆ Not allowing any automation at U.S. ports is foolish, says Zuoz Industrial's Urs Dur
▼ + stars: | 2024-10-03 | 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 EmailNot allowing any automation at U.S. ports is foolish, says Zuoz Industrial's Urs DurUrs Dur, Zuoz Industrial principal, joins 'Squawk Box' to discuss the latest developments on the U.S. port strike, why he believes both sides may see value in holding firm on their positions for the time being, the economic impact of the strike, and more.

Persons: Zuoz, Urs Dur Urs Dur

☆ OpenAI's robust funding will help it remain private, says Bullpen Capital's Duncan Davidson
▼ + stars: | 2024-10-03 | 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 EmailOpenAI's robust funding will help it remain private, says Bullpen Capital's Duncan DavidsonDuncan Davidson, Bullpen Capital general partner, joins CNBC's 'The Exchange' to discuss his outlooks on OpenAI's valuation, whether he thinks there will be revenue in the trillions, and more.

Persons: Capital's Duncan Davidson Duncan Davidson

☆ Market expectations for inflation not corresponding to its upside risk: StoneX's Kathryn Rooney Vera
▼ + stars: | 2024-10-03 | 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 EmailMarket expectations for inflation not corresponding to its upside risk: StoneX's Kathryn Rooney VeraKathryn Rooney Vera, StoneX chief market strategist, joins 'Squawk Box' to discuss the latest market trends, state of the economy, where investors can find opportunities right now, and more.

Persons: StoneX's Kathryn Rooney Vera Kathryn Rooney Vera

☆ Services sector propel economy to soft landing, says Wells Fargo's Christopher
▼ + stars: | 2024-10-03 | 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 EmailServices sector propel economy to soft landing, says Wells Fargo's ChristopherPaul Christopher, Wells Fargo Investment Institute head of global investment strategy, joins CNBC's 'The Exchange' to discuss how to play October choppiness, what to expect from the Fed, and more.

Persons: Wells Fargo's Christopher Paul Christopher Organizations: Email Services, Wells Fargo Investment Institute Locations: Wells Fargo

CNN —An Israeli military reservist who survived the Nova festival massacre has been hailed as a “hero” by the country’s security minister, for confronting two gunmen behind Tuesday’s shooting and stabbing attack in Tel Aviv. Seven people were killed and 16 wounded in the attack on Jerusalem Boulevard in Jaffa, a port neighborhood in southern Tel Aviv, according to Israeli Police. Israeli emergency services following a shooting attack in Jaffa, Israel, on October 1, 2024. Floral tributes and candles for those killed in a gun and knife attack on October 2, 2024 in Tel Aviv, Israel. Israeli Prime Minister Benjamin Netanyahu condemned Tuesday’s attack and sent condolences to the families of those who were killed.

Persons: ”, Lev Kreitman, Kreitman, ” Kreitman, “, Ammar Awad, Reuters Kreitman, Leon Neal, Muhammad Mask, Ahmed Himoni, Itamar Ben, Gvir, ” Ben, Benjamin Netanyahu, Tuesday’s Organizations: CNN, Tel Aviv ., Israeli Police, Channel, Israel Defense Forces, Reuters, Nova, Police, Getty, West Bank, Hamas, Israel Security Agency, IDF, Israel’s National Locations: Israeli, Tel Aviv, Jerusalem, Jaffa, Iran, Israel, Gaza, Israel’s, Hebron, Palestinian

☆ Top YouTuber MrBeast has acquired a startup that aims to be the LinkedIn for the creator economy
▼ + stars: | 2024-10-03 | by ( Amanda Perelli | ) www.businessinsider.com time to read: +4 min

MrBeast has acquired a startup called Vouch, which aids creators in hiring and job postings. Vouch uses AI for job matching and was backed by VCs like Seven Seven Six and other investors. AdvertisementYouTube's top creator, MrBeast, has expanded his estimated $700 million a year business empire by acquiring the startup Vouch. Pesis brought on Patrick Dudek, also a former Cameo employee, to the Vouch team to help scale the platform. AdvertisementVouch was backed by Seven Seven Six, Liquid 2 Ventures, Shrug Capital, Niche Capital, WorkPlay Ventures, and angel investors including Andreas Klinger and Siqi Chen.

Persons: MrBeast, VCs, —, Marty Pesis, they've, Pesis, Jimmy Donaldson, Donaldson, Safiya Nygaard, Danny Duncan, Goldman Sachs, we're, Kara McCloud, Patrick Dudek, Hayden Hillier, Smith, Andreas Klinger, Siqi Chen Organizations: Service, LinkedIn, YouTube, Business, Stokes Twins, AMP, Cameo, Seven Seven, Shrug, Niche, WorkPlay Ventures

☆ Stellantis CEO says too soon to confirm 2025 dividend as shares slide
▼ + stars: | 2024-10-03 | by ( ) www.cnbc.com time to read: +2 min

Carlos Tavares, chief executive officer of Stellantis NV, speaks during a news conference at the Fiat automobile manufacturing plant in Kragujevac, Serbia, on Monday, July 22, 2024. Stellantis CEO Carlos Tavares on Thursday left the door open for possible cuts to its dividend and share buybacks next year and brushed off problems with its U.S. business that led to a major profit warning this week as a "small operational error". "When you are in a context which is brutal and more demanding, if you make a small operational error, well it is immediately visible," he said, adding he was taking it as a "wake up call" and very seriously. While Stellantis is committed to its 2024 dividend, Tavares said it was too early to confirm next year's plan. "The time for 2025 has not come, we will see what will happen at the end of 2024 for a discussion and a decision for 2025," he said.

Persons: Carlos Tavares, Tavares, Stellantis Organizations: Stellantis NV, Fiat, Thursday, Chrysler, Jeep, Citroen, Peugeot Locations: Kragujevac, Serbia, U.S, France

☆ Mark Zuckerberg is now world's second-richest person, ahead of Jeff Bezos
▼ + stars: | 2024-10-03 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +3 min

Meta CEO Mark Zuckerberg has surpassed Jeff Bezos as the world's second richest person. The Facebook co-founder now trails Tesla chief Elon Musk by roughly $50 billion, the index showed. Meta has pointed to its hefty artificial intelligence investments as helping improve the performance of its online advertising platform as a reason for its sales growth. The company's online advertising system suffered a major setback in 2021 when Apple introduced an iOS privacy update that weakened its ability to track users across the web. Investors reacted favorably to Meta's cost cutting while the company's online advertising business began to rebound and was bolstered by the massive digital ad spending campaigns by Chinese-linked retailers Temu and Shien.

Persons: Mark Zuckerberg, Jeff Bezos, Elon Musk, Meta, Zuckerberg Organizations: Meta, Facebook, Bloomberg, Amazon, Apple, Investors, Orion, CNBC Locations: Meta

☆ A Cambodian maid was arrested and deported by Malaysia for criticizing Cambodian leaders on social media
▼ + stars: | 2024-10-03 | by ( Story The Associated Press | ) edition.cnn.com time to read: +4 min

Phnom Penh AP —A Cambodian woman who worked as a maid in Malaysia has been deported to her homeland for comments she posted on social media criticizing Cambodian government leaders, in the latest example of a Southeast Asian government helping another arrest a dissident. Nuon Toeun is neither an opposition leader nor a well-known activist. Radio Free Asia said Nuon Toeun was a supporter of the opposition Cambodian National Rescue Party, which was dissolved ahead of the 2018 general election as part of a crackdown on the opposition. The Khmer Movement for Democracy, a movement formed by opposition leaders in exile, condemned Nuon Toeun’s deportation from Malaysia. It said in a statement that she was working legally in Malaysia and had committed no crime except expressing her opinions.

Persons: Nuon, “, ″ Nuth, Nuon Toeun, couldn’t, Mech Dara, Cambodia’s, Hun Manet, Hun Sen, ” Organizations: Phnom Penh AP, Malaysian, Rights Watch, Cambodian, Radio Free, Cambodia People’s Party, Radio Free Asia, Cambodian National Rescue Party, Cambodian People’s Party, National Assembly, Facebook, ” Radio Free Asia, Khmer Movement for Democracy Locations: Phnom Penh, Malaysia, Asian, Cambodia, . New York, Vietnam, Laos, China, US, Prey, Radio Free Asia

☆ We expect a rebound for the art market in the second half of 2024, says Christie's CEO
▼ + stars: | 2024-10-03 | 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 EmailWe expect a rebound for the art market in the second half of 2024, says Christie's CEOGuillaume Cerutti, Christie’s CEO, joins 'Closing Bell Overtime' to talk softening in the art and collectors market, its new Hong Kong location, and more.

Persons: Guillaume Cerutti Locations: Hong Kong

☆ Chiang Mai: About 100 rescued elephants escape flash floods at popular sanctuary in northern Thailand
▼ + stars: | 2024-10-03 | by ( Helen Regan | Kocha Olarn | ) edition.cnn.com time to read: +4 min

Dramatic video and images from the Elephant Nature Park near the city of Chiang Mai showed dozens of elephants wading through belly-deep water to find safety on higher ground. A view of the flooded elephant sanctuary in Chiang Mai, Thailand. Elephant Nature ParkThe Elephant Nature Park is an elephant rescue and rehabilitation center in the Chiang Mai countryside that has rescued more than 200 elephants from the tourism and logging industries since its inception in the 1990s. Rescue workers evacuate animals to higher ground at Elephant Nature Park after severe flooding caused the nearby river to overflow in Chiang Mai, Thailand. Elephant Nature ParkSeveral villages in Chiang Mai’s Mae Rim district have been inundated by water from upstream runoffs, local media reported Thursday.

Persons: Chiang Mai, Chailert, “, Saengduean, ”, Typhoon Yagi, ” Saengduean Organizations: Bangkok CNN, CNN, Facebook Locations: Bangkok, Thailand, Chiang Mai, Northern Thailand, Chaing Mai, Chiang, Mae Rim

☆ Investing giants want to offer retail traders access to a booming sector of financial markets
▼ + stars: | 2024-10-03 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

It would give retail investors access to a $1.7 trillion market. It could be tricky, as private credit tends to be illiquid while ETF investors need high liquidity. According to The Wall Street Journal, some of the biggest private equity and investment management giants want to offer retail investors access to exchange-traded funds backed by private credit. The race to launch private credit ETFs has heated up in recent months. Last month, State Street proposed a private debt ETF to the Securities and Exchange Commission.

Persons: —, Anna Paglia, Paglia, Eric Mogelof Organizations: Service, Wall Street, Apollo Global Management, BlackRock, Capital Group, KKR, Securities and Exchange Commission, Street's

☆ The bar is high to get bearish from here, says Strategas' Jason Trennert
▼ + stars: | 2024-10-03 | 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 EmailThe bar is high to get bearish from here, says Strategas' Jason TrennertJason Trennert, Strategas Research Partners chairman and CEO, joins 'Squawk Box' to discuss the latest market trends, state of the economy, his thoughts on the election, and more.

Persons: Strategas, Jason Trennert Jason Trennert Organizations: Strategas Research

☆ Here's everything to expect when the September jobs report is released Friday
▼ + stars: | 2024-10-03 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

"The jobs market is slowing down and becoming less tight," said Katie Nixon, chief investment officer at Northern Trust Wealth Management. Then there are the monthly revisions that have been dramatic at times, causing the Labor Department to overcount hiring by more than 800,000 for the 12-month period through March 2024, adding uncertainty to jobs market analysis. The Bureau of Labor Statistics will release the report at 8:30 a.m. Looking for cluesStill, markets will in fact be watching the report closely. At the same meeting where they approved the reduction, policymakers indicated another half percentage point, or 50 basis points, in cuts before the end of 2024 and another full percentage point in 2025.

Persons: Angus Mordant, Nonfarm, Dow Jones, Katie Nixon, We've, there's, David Kelly, Helene —, JPMorgan's Kelly, Kelly Organizations: Bloomberg, Getty, Federal Reserve, Trust Wealth Management, Labor Department, Asset Management, Labor Statistics Locations: Albany, Latham , New York

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