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☆ Micron shares surge after upbeat first-quarter forecast due to AI demand for memory chips
▼ + stars: | 2024-09-25 | by ( ) www.cnbc.com time to read: +2 min

Micron Technology shares surged roughly 14% in after-hours trading after the memory maker forecast higher-than-expected first-quarter revenue due to the thirst for its memory chips used in artificial intelligence computing. HBM is a space-saving, power-efficient type of dynamic random access memory chip, or DRAM, crucial for AI-focused graphics processing units, that aid in processing vast amounts of data. "Demand from data center customers continues to be strong and customer inventory levels are healthy," Micron CEO Sanjay Mehrotra said on a conference call with analysts. The AI boom has also helped Micron cushion the hit from a memory chip inventory glut in PC and smartphone markets. Personal computers infused with AI technologies are expected to have more memory chips, helping firms such as Micron.

Persons: Sanjay Mehrotra, Wall, Kinngai Chan, Sumit Sadana Organizations: Micron Technology, Micron, South Korea's SK Hynix, Samsung, Nvidia Locations: U.S

☆ How Apple and Microsoft’s trusted brands are being used to scam you online
▼ + stars: | 2024-09-25 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +7 min

No, it's not really Apple or Microsoft popping up on your screen to tell you your computer has been infected. "Because, who doesn't know Microsoft or Apple as a brand?" Here's what people should know to protect themselves from scams targeting commonly used, trusted tech brands:Never assume any online ad is authenticPeople can be duped in a number of ways. Sometimes simply opening the attachment could infect a consumer's computer with malware. If, for instance, you called a number for "Microsoft" or "Apple" and gave usernames and passwords, change those.

Persons: it's, It's scammers, Cliff Steinhauer, Nati Tal, Bing, Malwarebytes, Jérôme Segura, Segura, Jim Routh, It's, Routh Organizations: National Cybersecurity Alliance, Microsoft, Apple, Guardio Labs, McAfee, PayPal, Norton

☆ I tried out the alpha version of ChatGPT's Advanced Voice Mode. Here's what you can expect as it rolls out this week.
▼ + stars: | 2024-09-25 | by ( Ana Altchek | ) www.businessinsider.com time to read: +4 min

Read previewOpenAI stunned viewers when it showed off ChatGPT's Advanced Voice Mode at its Spring Update event in May. AdvertisementOpenAI will also release five new voices to Standard and Advanced Voice Mode in addition to the four already available. I've been trying out the alpha version of Advanced Voice Mode over the last couple of weeks, so here's what you can expect once you get access. Advanced Voice Mode also didn't give the thoroughness or detail that the text mode offers. ChatGPT's Advanced Voice Mode feels a world apart from Siri or other voice assistants, which don't offer smooth back-and-forth conversations or pick up on emotion.

Persons: —, Scarlet Johanson — OpenAI, It'll, Edu, it's, I've, didn't, Siri Organizations: Service, Business, Enterprise, EU, American Locations: Switzerland, Iceland, Norway, Liechtenstein

☆ Hezbollah may have enough missiles to breach Israel's Iron Dome. But doing so could trigger its destruction.
▼ + stars: | 2024-09-25 | by ( Tom Porter | ) www.businessinsider.com time to read: +7 min

That may be enough to overwhelm Israel's Iron Dome air defense system and inflict huge damage on the country's cities and infrastructure, experts say. Two unnamed US officials told the publication that Israel believes the Iron Dome could be vulnerable, particularly in the north. The Iron Dome is one of the most advanced defense systems in operation today. Each battery consists of three to four launchers carrying dozens of Tamir interceptor missiles and a sensitive radar, US military Iron Dome contractor Raytheon Technologies said. AdvertisementIsrael's Iron Dome repelled a barrage of rockets from Hezbollah.

Persons: —, William Wechsler, JALAA, Wechsler, Israel, Tamir, It's, " Wechsler Organizations: Service, Hezbollah, Business, Center for Strategic, International Studies, Israel's, Middle, The Atlantic Council, Israel Defense Forces, CNN, IDF, Iron Dome, Raytheon Technologies Locations: Israel, Lebanon, Iran, Gaza, Israel's, Beirut, Tehran, Anadolu, United States, Tel Aviv

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

☆ 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

☆ UAE eyes ‘different architecture’ for a Middle East embroiled in conflict as it strengthens ties with the US
▼ + stars: | 2024-09-25 | by ( Mostafa Salem | ) edition.cnn.com time to read: +5 min

The UAE president’s visit to the US “was mostly and almost exclusively about the future,” Gargash said. One of the US’ closest allies in the Middle East and a major recipient of US arms, it hosts 5,000 US military personnel. Wary of being deprived of US technology, the UAE has since abandoned closer cooperation with China in the field of AI and semiconductors in favor of the US. Earlier this year, Abu Dhabi’s state-backed technology firm G42 announced it had agreed not to engage with Chinese companies for advanced technology. He said the two pillars of the UAE’s policy are stability and prosperity.

Persons: Biden, Kamala Harris, Jake Sullivan, Sheikh Mohammed bin Zayed, –, ” Biden, ” Sheikh Mohammed, ” Anwar Gargash, CNN’s Becky Anderson, ” Gargash, Abu, Donald Trump, Abu Dhabi’s, ”, Sheikh Mohamed, Gargash, Abu Dhabi Organizations: Abu Dhabi CNN, United, White, National, USA, UAE, Abu Dhabi, US Air Force, CNN, Biden, Huawei Technologies, Financial Times, NVIDIA, Blackrock, Microsoft, MGX Locations: Abu Dhabi, United Arab Emirates, Gaza, Lebanon, UAE, trailblazers, United States, Israel, China, Washington, Abu

☆ 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

☆ Tropical Storm Helene: Thousands forced to evacuate in Florida as hurricane warnings issued
▼ + stars: | 2024-09-25 | by ( Taylor Ward | Dalia Faheid | ) edition.cnn.com time to read: +12 min

CNN —Thousands of Florida residents have been forced to evacuate as the state prepares for rapidly strengthening Tropical Storm Helene, which could bring powerful winds, flooding and life-threatening storm surge to areas already hard-hit by recent hurricanes. The Big Bend area faces the most serious storm surge: up to 15 feet of it is possible. Over in Sanibel, one couple who met during Hurricane Ian in 2022 and nearly lost everything are now going to weather Tropical Storm Helene together, CNN affiliate WINK reported. Large clouds move over Havana due to the proximity of the tropical storm Helene, on September 24. Officials in neighboring Pinellas County warned hundreds of homes would likely flood with a higher storm surge than in past destructive storms.

Persons: Helene, Debby, Idalia, Ian Just, ” Howard Rabe, “ We’ve, we’ve, ”, Rabe, Ian, Michele Vikartofsky, Larry Leventhal, ” Vikartofsky, “, it’s, “ Ian, Vikartofsky, WINK, Hurricane Debby, Ron Booher, Hurricane Michael, ” Lynn Marshall, Yamil Lage, Ron DeSantis, DeSantis, Cathie Perkins, Kenneth Welch, ” Welch, Brian Kemp, ” Kemp, James Stallings, Herman, Connell Crooms, Corey Perrine, it’ll, It’s Organizations: CNN, Hurricane, National Hurricane Center, Tampa General Hospital, WFTS, WINK, WFTV, WJHG, Getty Images, Gov, Florida National Guard, Florida State Guard, –, Georgia Gov, Georgia Emergency Management, Homeland Security, Woerner, Florida Times, USA, Florida, National Weather Service, Carolinas, Weather, Florida Panhandle Locations: Florida, Bend, United States, Gulf of Mexico, Tampa, Florida’s Gulf, Anclote, Mexico Beach, Cabo Catoche, Citrus, Hillsborough, Charlotte, Gulf , Manatee, Pinellas, Taylor County, Tallahassee, Franklin, Wakulla, Port Richey, Sanibel, Manatee County, Gulf County, Havana, AFP, Getty Images Florida, Georgia, Pinellas County, Idalia, St . Petersburg , Florida, Hillsborough , Pinellas, Sarasota, Jacksonville , Florida, Tampa Bay, Florida , Georgia, Alabama, Tennessee, Carolinas, Virginia, Gulf, Helene

☆ Woolly rhino mummy found preserved in Russian permafrost after 32,000 years
▼ + stars: | 2024-09-25 | by ( Issy Ronald | ) edition.cnn.com time to read: +4 min

CNN —Scientists have uncovered a woolly rhino so well preserved in the Russian permafrost for more than 32,000 years that its skin and fur are still intact. This woolly rhino died when it was about four years old and that age, combined with its good state of preservation, has allowed scientists to learn more about the now-extinct species. This woolly rhino mummy has been well-preserved by the permafrost. Once this woolly rhino died, it lay frozen in permafrost until a team of Russian scientists from research institutions in Yakutsk and Moscow discovered it in August 2020 on the banks of the Tirekhtyakh River. As part of an agreement with local authorities in the region where the woolly rhino was found, tusk hunters have to contact paleontologists whenever they discover something of interest like this mummified woolly rhino, meaning that there is a steady stream of well-preserved specimens specifically from this area.

Persons: wasn’t, “ There’s, Dalén Organizations: CNN —, Stockholm University, CNN, Sciences, Russian Academy of Sciences Locations: Siberia, Yakutsk, Moscow

☆ Mira Murati, OpenAI’s technology chief, becomes the latest exec to leave the company
▼ + stars: | 2024-09-25 | by ( Clare Duffy | ) edition.cnn.com time to read: +3 min

New York CNN —OpenAI Chief Technology Officer Mira Murati — who has been instrumental in the development of ChatGPT and the artificial intelligence image generator Dall-E — said Wednesday she is leaving the company. “My six-and-a-half years with the OpenAI team have been an extraordinary privilege,” Murati said in a note to the OpenAI team, which she posted to X. Fellow OpenAI co-founder John Schulman exited in August to join rival Anthropic. Murati joined OpenAI’s leadership team in 2018 after working at augmented reality company Ultraleap (then called Leap Motion) and Tesla. During the debacle, Murati joined more than 500 fellow OpenAI employees in threatening to quit if Altman was not brought back to the company.

Persons: Mira Murati —, —, “, ” Murati, “ There’s, shakeup, OpenAI, Ilya Sutskever, John Schulman, Greg Brockman, Murati, Sam Altman, Altman, Mira, ”, ” Altman Organizations: New, New York CNN, OpenAI, Bloomberg, OpenAI’s, Tesla, o1 Locations: New York, Silicon Valley

☆ Southwest is making big route changes as it prepares to reveal new details of its turnaround plan
▼ + stars: | 2024-09-25 | by ( Taylor Rains | ) www.businessinsider.com time to read: +3 min

The budget airline plans to cut some 340 pilots and flight attendants from its busy Atlanta base, CNBC first reported Wednesday. Southwest was the second-largest operator in Atlanta behind Delta Air Lines, leaving customers will fewer choices out of the world's busiest airport. The airline also left four airports in August as part of a cost-cutting and restructuring plan, including Bellingham International Airport in Washington state, Mexico's Cozumel International Airport, Houston's George Bush Intercontinental Airport, and Syracuse Hancock International Airport in New York. AdvertisementDespite its shrinking network, Southwest is boosting flights where it has an edge. Further changes are likely to be announced at an investor day on Thursday, which will lay out Southwest's future as we know it.

Persons: —, Houston's George, Elliott Organizations: Service, CNBC, Business, Bloomberg, Delta Air Lines, Chicago O'Hare, Bellingham International Airport, Houston's George Bush Intercontinental Airport, Syracuse Hancock International Locations: Atlanta, Chicago, Southwest, Bellingham, Washington, Cozumel, New York, Nashville, Hawaii

Engineer Don Kramer is slated to testify as the investigation continues into the implosion of OceanGate's Titan submersible. The Coast Guard opened a public hearing earlier this month that is part of a high level investigation into the cause of the implosion. Coast Guard officials noted at the start of the hearing that the submersible had not been independently reviewed, as is standard practice. Wreckage of the Titan was subsequently found on the ocean floor about 330 yards (300 meters) off the bow of the Titanic, Coast Guard officials said. OceanGate said it has been fully cooperating with the Coast Guard and NTSB investigations since they began.

Persons: Don Kramer, Stockton Rush, David Lochridge, Rush, ” Lochridge, William Kohnen, Bart Kemper, Guillermo Sohnlein, ” Sohnlein, “, OceanGate, Titan Organizations: National Transportation Safety, Coast Guard, Titanic, Stockton, The Coast Guard, Hydrospace, Inc, Kemper Engineering, Rush, Polar, NTSB, Associated Press Locations: Washington, Polar, St, John’s, Newfoundland

☆ 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

☆ How birria took over restaurant menus across the country
▼ + stars: | 2024-09-25 | by ( Amelia Lucas | ) www.cnbc.com time to read: +5 min

Birria burrito surrounded by birria tacos, birria munchwrap, birria loaded fries and birria consommé at Little Miner Taco in North Bethesda, Maryland. Birria tacos use the slow-cooked meat as a filling and usually include a consommé on the side to dip the taco. Over the past four years, birria has seen its presence on restaurant menus grow 412%, largely thanks to midscale and casual-dining chains, according to market research firm Datassential. More recently, birria took off in New York City, with restaurants and food trucks serving up tacos and consommé across the five boroughs. Finding opportunityQdoba's Brisket Birria, seen here in the chain's quesadillas.

Persons: birria tacos, birria, Laura Chase de Formigny, chiles, El, Del, Taco Bell, Scott Suchman, Steven Alvarez, Alvarez, Don Guadalupe Zárate, Birrieria Gonzalez, TikTok, Qdoba's Brisket, Katy Velazquez, Qdoba, Velazquez, Lamb, Liz Hafalia Organizations: Little Miner, Washington Post, Getty, John's University, Butterfly Equity, San Francisco Chronicle, Hearst Newspapers Locations: Little, North Bethesda , Maryland, Mexican, U.S, Del Taco, Jalisco, Washington ,, St, Europe, Americas, Tijuana, Mexico, Los Angeles, California, New York City, Oakland , California

☆ Connecting your phone to rental car infotainment system? There is a big, hidden privacy risk
▼ + stars: | 2024-09-25 | by ( Barbara Booth | ) www.cnbc.com time to read: +6 min

The recent data breach that exposed the sensitive information of some 300,000 Avis customers highlighted some critical vulnerabilities within the rental car industry. Yet, there's another, often overlooked security risk when drivers use a rental car: the personal data you unknowingly leave behind when syncing your mobile device to a rental car's infotainment system. Privacy policies say the customer is responsibleExperts agree that car rental companies need to start implementing best practices to better protect customers. Despite this, many rental companies lag in applying adequate protections. When you read those car rental agreements, they say you leave the data in the car, it's your problem.

Persons: Ford's, Biden, Andrea Amico, Privacy4Cars, James Hajjar, Hajjar, you've, Clyde Williamson, John Price, Yashin Manraj Organizations: Avis, Hartford, Enterprise, Pvotal Technologies, Android, Apple Locations: U.S, Protegrity

Best Friends Forever Fest 2024 festival scheduleThe Best Friends Forever Fest 2024 takes place on Friday, October 11, Saturday, October 12, and Sunday, October 13, in Downtown Las Vegas. How to buy tickets for Best Friends Forever Fest 2024You can buy original 2024 Best Friends Forever Fest tickets directly through the festival's website. The prices for original 2024 Best Friends Forever Fest tickets vary depending on ticket type. The prices for 3-Day Best Friends Forever Fest resale tickets begin at $257 on Vivid Seats and $202 on StubHub. The 2024 Best Friends Forever Fest has an incredibly exciting lineup for emo and indie rock music fans.

Persons: we've, Algernon Cadwallader, Braid, Mary, Rainer Maria, Piebald Organizations: Business, Fest, Downtown, Cap'n Jazz, Sunday, Vivid, concertgoers, PLUS, Jazz, American Football, City Devils, Drug Locations: Las Vegas, Downtown Las Vegas, wristbands, Indian, Unwound

☆ Benard Arnault added $6 billion to his net worth in a day after China's stimulus sparked a rally in luxury stocks
▼ + stars: | 2024-09-25 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

China's new stimulus measures helped boost Bernard Arnault's net worth by $6.2 billion in a day. LVMH shares surged 4% on the news. Bernard Arnault, the chairman of LVMH, saw his net worth soar $6.2 billion on Tuesday, according to data from Bloomberg, as shares of the luxury goods maker surged 4%. At one point in March, Arnault was the richest person in the world, but since the start of the year, he slipped in the net worth rankings as LVMH stock struggled and a huge mega-cap tech rally boosted the net worth of tech CEOs. AdvertisementArnault's net worth now stands at $183 billion, just ahead of Oracle cofounder Larry Ellison's $179 billion and behind the $200+ billion fortunes of Mark Zuckerberg, Jeff Bezos, and Elon Musk.

Persons: Bernard Arnault's, —, Bernard Arnault, Arnault, Louis Vuitton, LVMH, Pan Gongsheng, Larry Ellison's, Mark Zuckerberg, Jeff Bezos, Elon Musk Organizations: Consumers, Service, Bloomberg, Dior, Tiffany, TAG Heuer, People's Bank of China, Oracle Locations: China

☆ Inside the strain challenging the US Secret Service
▼ + stars: | 2024-09-25 | by ( Betsy Klein | Jamie Gangel | ) edition.cnn.com time to read: +12 min

While the reputation of the US Secret Service is one of precision, vigilance and security, the reality is more complicated – a high-stress, high-intensity workplace beset by management and logistical issues. (The Secret Service is mandated to protect all foreign heads of state while they are on US soil). “Following the events of July 13, the U.S. Secret Service enhanced our protective model for protectees. According to the Secret Service official, the agency’s attrition rate was 10.26% in fiscal year 2022, 8.78% in 2023, and 8.85% for fiscal year 2024 so far. A USSS spokesman disputed any reports of tension between Secret Service and the Bidens.

Persons: Donald Trump, Butler, ”, Joe Biden, protectee, USSS, Kamala Harris, Sen, JD Vance, Tim Walz, That’s, ” Anthony Guglielmi, ” Guglielmi, ” Biden, “ They’re, Ronald Rowe, Kimberly Cheatle, “ You’re, Rowe, nodded, Jonathan Wackrow, Trump, Wackrow, Biden, ’, “, Trump’s Butler, CNN’s Whitney Wild Organizations: CNN, Service, Secret Service, San Francisco, Trump, Gov, United Nations General Assembly, Democratic, Republican, Secret, Places, Federal Government, Public Service, Boston Consulting, Washington Post Locations: Butler , Pennsylvania, Florida, San Francisco, Asia, Pacific, San, New York, U.S, Cheatle

☆ There's a new reason people feel bad about the economy
▼ + stars: | 2024-09-25 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

Read previewIt's official: The labor market vibes are not great. It's the largest tumble in sentiment since August 2021 — and workers' experiences with and expectations for the labor market are partially to blame. A weaker jobs market — although one that's still historically strong — is warping Americans' beliefs about the economy. Even so, though, it'll take a little while for new monetary policy to trickle into daily life and the labor market. Are you having trouble finding a job, or is the job market making you feel bad?

Persons: —, It's, Jerome Powell, Wells, Shannon Seery Grein, Jeremiah Kohl, Dana M, Peterson, it'll, Julia Pollak Organizations: Service, Conference, Business, Federal Reserve, Conference Board, Conference Board's, New York Federal Reserve's Survey, Consumer, Survey, Labor

☆ It's not a great fall housing market, but this is 'as good as it gets,' economist says
▼ + stars: | 2024-09-25 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

While housing affordability remains a challenge for many buyers in the U.S., conditions are somewhat improving due to lower mortgage rates. Buyers need to earn $115,000 to afford the typical home in the U.S., according to a new report by Redfin, an online real estate brokerage firm. Both declines stem from lower mortgage rates, said Daryl Fairweather, chief economist at Redfin. "The only reason mortgage payments are down is because of the rate effect," Fairweather said. While housing overall continues to be unaffordable for most buyers, "this is as good as it gets," said Orphe Divounguy, senior economist at Zillow, as the market is generally seeing lower mortgage rates, more inventory and low buyer competition.

Persons: Redfin, Daryl Fairweather, Freddie Mac, Fairweather, Orphe Divounguy Organizations: Finance, Federal Reserve, Vanguard Locations: U.S

☆ Watch Wednesday's full episode of the Halftime Report — September 25, 2024
▼ + stars: | 2024-09-25 | 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 EmailWatch Wednesday's full episode of the Halftime Report — September 25, 2024"Fast Money Halftime Report" is on the front lines of CNBC's market coverage. Host CNBC's Scott Wapner and the Street's top investors get to the heart of the action as it's happening and help set the agenda for the rest of the day. Watch today's full episode on CNBC PRO.

Persons: CNBC's Scott Wapner Organizations: CNBC PRO

☆ 'Don't fight the Fed': Barclays and Citi turn bullish on these stocks after rate cut
▼ + stars: | 2024-09-25 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

The move prompted Wall Street giants Barclays and Citi to adopt a more optimistic stance on global cyclical stocks. Barclays believes the Federal Reserve's actions are "clearly designed to pull out all the stops to achieve a soft landing" for the economy. Barclays strategists noted that "cyclicals typically rebounded steadily after the Fed started its rate cut cycle ... as long as it was not followed by a recession." Citi strategists share a similar outlook for European stocks. "The scale of the downgrades has become so extreme of late that we're now approaching a point where negative ERI may be a useful contrarian indicator," the Citi strategists said.

Persons: Emmanuel Cau, Beata Manthey, we're, Safran, Atlas, — CNBC's Michael Bloom Organizations: Federal Reserve, Wall Street, Barclays, Citi, Fed, Siemens, BBVA, ING, Holcim, ASM Locations: United States

☆ An F-35 was caught on camera for the first time carrying the stealthy long-range anti-ship missiles it could need in a fight with China
▼ + stars: | 2024-09-25 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

Read previewThe US military has published photos for the first time that show a fifth-generation F-35 fighter armed with a stealthy long-range anti-ship missile. The photo, released on Monday, shows an F-35C Lightning II carrying two AGM-158C Long-Range Anti-Ship Missiles (LRASMs) during a flight test conducted earlier this month. Efforts to integrate the missile with the carrier-based variant of the advanced F-35 stealth fighter underscore the military's push to expand its anti-ship capabilities across new platforms. The military has acknowledged an increasing need for these capabilities, particularly as rivals like China strengthen their navies. The F-35 doesn't have a dedicated anti-ship missile, making the LRASM a valuable addition.

Persons: —, Lockheed Martin Organizations: Service, Ship, Naval Air, Business, US Air Force, US Navy, Air Force, Navy, Hornets, Force, ITF, Pax ITF, Lockheed, Warfare Locations: Maryland, China, Washington, Beijing

☆ Bettina Orlopp: The woman tasked with leading Commerzbank amid UniCredit takeover battle
▼ + stars: | 2024-09-25 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

Bettina Orlopp, chief financial officer of Commerzbank AG, speaks during a fourth quarter earnings news conference at the bank's headquarters in Frankfurt, Germany, on Thursday, Feb. 13, 2020. Commerzbank announced Tuesday it has picked 10-year veteran, and current Chief Financial Officer Bettina Orlopp to helm the bank as chief executive as it seeks to fend off a potential hostile takeover from Italian bank UniCredit. The bank has been on the defensive as UniCredit looks to become its largest shareholder, signaling the potential for a full takeover. Earlier this month, the Milan-based bank started building its shareholding with a 9% stake in Commerzbank. Senior officials at Commerzbank and the German government, which was the company's largest shareholder until UniCredit stepped in, have both said they oppose a hostile takeover.

Persons: Bettina Orlopp, Commerzbank, UniCredit, Orlopp, Manfred Knof Organizations: Commerzbank AG Locations: Frankfurt, Germany, Milan, Commerzbank

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