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Barclays upgrades CVS to overweight from equal weight Barclays said the stock is a "new margin story." JPMorgan downgrades Honeywell to neutral from overweight JPMorgan said it's downgrading the stock after 15 years with an overweight rating. UBS upgrades Tronox to buy from neutral UBS said it's bullish on the chemical manufacturer. "We upgrade shares of EVGO from Neutral to Buy, following the $1.05bn DOE loan conditional commitment announced last week. "Our bullish view of AIG reflects its outsized EPS growth, lower exposure to risks facing commercial lines carriers (casualty reserves and higher cat loads), high capital flexibility, and attractive valuation."
Persons: Morgan Stanley, Goldman Sachs, Goldman, it's bullish, Jefferies, TD Cowen downgrades, Cowen, Bernstein, Brinker, Kevin Hochman, Truist, it's, BIRK, Cantor Fitzgerald, Mara, Cantor, MARA, Wolfe, Google's, Satya Nadella, Lucas Jackson Organizations: Nvidia, Netflix, Barclays, JPMorgan, Honeywell, Microsoft, UBS, TD Cowen downgrades Pepsi, U.S, Department of Energy, DOE, RBC, PayPal, Cirrus, Bank of America, underperform Bank of America, Nike, Mara Holdings, AIG, DOJ, Google, Reuters Locations: EVGO, EAT's, LHX, New York City
ESPN replaced retired NBA reporter Adrian Wojnarowski with Shams Charania. AdvertisementAs many basketball fans have likely heard, the latest major NBA signing is Shams Charania to ESPN. The 30-year-old scoop master is replacing Adrian Wojnarowski, the genre-defining NBA reporter who had unexpectedly retired from the news-breaking business three weeks earlier. "It felt like it was a perfect way to solve this problem," said Burke Magnus, ESPN's head of content, in an interview with Business Insider on Wednesday. In the last few months, veteran NBA reporter Zach Lowe, host Samantha Ponder, and analyst Robert Griffin III each were let go.
Persons: Adrian Wojnarowski, Shams Charania, Burke Magnus, , Charania —, ESPN's, wasn't, Wojnarowski, Magnus, Jeff Passan, Jeff, Charania, he's, he'll, Stephen A . Smith, Pat McAfee, Dave Roberts, Howard Cosell —, Mike Greenberg, that's, Stephen A, Zach Lowe, Samantha Ponder, Robert Griffin III, we're Organizations: ESPN, Service, NBA, Athletic, Yahoo Sports, Business, Sports News, Entertainment
Here are Wednesday's biggest calls on Wall Street: Citi initiates FedEx and UPS as buy Citi said in its initiation note that FedEx and UPS are well positioned. "Netflix remains a compelling growth story with significant room for revenue, earnings, and FCF growth over the next several years." Wells Fargo upgrades Valero to overweight from equal weight Wells said the company is one of the "best independent refiners." Mizuho reiterates Nvidia and Broadcom as outperform Mizuho said it's sticking with its outperform ratings on Nvidia and Broadcom. Wells Fargo reiterates Roblox as overweight Wells Fargo raised its price target on Roblox ahead of earnings in late October to $54 per share from $46.
Persons: underperform Jefferies, Guggenheim, TD Cowen, Cowen, Morgan Stanley, it's bullish, Piper Sandler downgrades Blackstone, Piper, Piper Sandler, Wells, Jefferies, Wolfe, VALE, Chewy, it's, Mizuho, Wells Fargo, Evercore Organizations: Citi, FedEx, UPS, Jefferies, Southwest, Deutsche Bank, Netflix, Deutsche, Inc, MetLife, Barclays, Apple, Apple Intelligence, New York Times, Industry, Nvidia, Broadcom, Mizuho, Lowe's Locations: Valero, underperform, Underperform
As an example, he cited his inability to review ballots from the 2020 election. If the system is secure, they would have produced the paper ballots,” Favorito said. Favorito has also made connections with election officials around Georgia, some in Republican-leaning districts. Still, after Donald Trump lost the presidency, VoterGA began peddling claims that “significant evidence of fraud” existed in Georgia’s 2020 election. Favorito and VoterGA have made connections with others in the national movement that has cast doubt on the 2020 election.
Persons: Garland Favorito, VoterGA, they’ve, Favorito, Michael Flynn, ” Gabriel Sterling, ” Favorito, John F, Favorito’s, US Sen, David Perdue, Garland, Matt Hamilton, Holden, , ” Holden, , David Hancock, ” Megan Bellamy, “ We’re, Joseph Kirk, Travis Doss Jr, Doss, Bill Clinton, Clinton, Israel, President Kennedy, Robert, Israel’s, CNN “, ” Garland, Donald Trump, Patrick Byrne, Overstock.com, Doug Logan, Cleta Mitchell, Flynn, Sterling, ” Sterling, Trump, ” CNN’s Sean Clark Organizations: CNN, Peach State, Republican, Trump, , CIA, Georgia Capitol, US, Chattanooga Times Free Press, Facebook, Georgia, The Atlanta, , America, JFK Jr, Southern Poverty Law Center, Nazi, Favorito, Georgia Bureau of Investigation, FBI, The America, American Locations: Georgia, Peach, , Ringgold , Georgia, Paulding County, Atlanta, Gwinnett, “ Georgia, Bartow County, Washington, Georgia’s, Fulton County, Maricopa County
A couple of analyst downgrades are making the rounds Monday on megacap stocks that rarely see ratings cuts: Apple and Amazon. At Jefferies, analysts downgraded Apple to a hold but increased the price target to $213 apiece from $205. It also presents a problem for investors who see the downgrades as a reason to sell some shares. After all, you'll be hard-pressed to find companies anywhere more in charge of their own destinies than Apple, Amazon — or any of the Super Six (Meta, Nvidia, Alphabet, Microsoft). Apple and Amazon aren't where they are because of luck, but rather because they make their own luck.
Persons: downgrades, They're, Jim Cramer, I'm, Jim, you've, it's, Philip Fisher, Apple, Jim Cramer's, Michael M Organizations: Jefferies, Apple, CNBC, Apple Intelligence, Wells, Nvidia, Microsoft, Amazon, Jim Cramer's Charitable, Fifth, Santiago, Getty Locations: Wells, New York City
Investors expect S&P 500 earnings growth of 4.6% as the stock market trades near record highs. Key themes to watch for include AI adoption, consumer health, and the impact of lower interest rates. AdvertisementEarnings season is fast approaching, and investors have a lot to be on the lookout for as companies report third-quarter results. AdvertisementIn addition to the actual earnings figures, investors will be monitoring key themes as company executives offer guidance during earnings calls. Hainlin said he is encouraged by continued growth in consumer spending as credit card defaults "are within normal levels" and the holiday shopping season is right around the corner.
Persons: Wells, , Michael Dickson, Tom Hainlin, they're, John Belton, There's, Dickson, delinquencies, Hainlin Organizations: PepsiCo, JPMorgan, Service, Wells, Investments, Business, Wall Street, Bank Wealth Management, Aerospace, Defense, Consumer, Federal Reserve Locations: Wells Fargo, FactSet
Brian Niccol and Elliott Hill are taking over Starbucks and Nike , respectively, just as a key market that weighed on their predecessors gets a boost. As China's economic stimulus takes shape, it could end up helping these global brands. Nike and Starbucks in China While the exact plans for Niccol and Hill are still unclear, the Chinese market seems like it will be an area of focus. At Starbucks, the company's leadership team in China has already been reshuffled since Niccol took over in September. Still, a rebound for China's consumer won't necessarily boost sales for Starbucks and Nike without better execution.
Persons: Brian Niccol, Elliott Hill, Hartmut Issel, Niccol, Matthew Friend, Hill, Chen Luo, Ellen Hazen, . Putnam, Hazen, Eric Clark, I'd, it's, Clark, America's Luo, — CNBC's Michael Bloom Organizations: Starbucks, Nike, Bank of America — Nike, UBS, Bank of America, CNBC, Brands, Bank, America's Locations: China, United States, Niccol, .
Trump plans ‘different’ eventFive days after the shooting, as Trump captivated Republicans in his convention speech in Milwaukee, the former president vowed to never again mention details of the assassination attempt. “Everybody up there, they were amazing,” Trump told the Erie crowd, some of whom cheered when he asked if any of them had been present at the Butler rally. They saw that we were in trouble.”The event Saturday at Butler Farm Show Inc. is expected to be “different” from a typical Trump rally, a senior Trump campaign adviser told CNN. Harris is blasting Trump on health care in Wisconsin, while Trump is hammering Harris on taxes in Georgia. One focus of Harris’ campaign is Latino voters in Pennsylvania, in a bid to stop Trump from eating away at Democrats’ traditionally large margins of victory among non-White voters.
Persons: Donald Trump, , ‘ We’re, ” Trump, Trump, Joe Biden, Kamala Harris ’, Butler, “ We’re, , Corey Comperatore, David Dutch, James Copenhaver, , Ohio Sen, JD Vance, Elon Musk, Lee Greenwood, Thomas Matthew Crooks, Crooks, Communications Anthony Guglielmi, Harris, Liz Cheney, — Trump, Tim Walz, Hurricane Maria —, Barack Obama, Harris ’, CNN’s Camila DeChalus, David Wright, Kristen Holmes, Zachary Cohen Organizations: CNN, White, Democratic, Trump, Republicans, Erie, Butler, Republican National Convention, SpaceX, Secret Service, Service, Pennsylvania State Police, Communications, Sun, Democrats, Keystone, Republican, Marquette Law, Wyoming, Republican Party, CBS, Democrats ’, Hurricane, Pennsylvania Locations: Pennsylvania, Butler, Pittsburgh, Florida, Milwaukee, Erie, That’s, Butler Township, Michigan , Pennsylvania, Wisconsin, Arizona , Georgia, Nevada, North Carolina, Georgia, Ripon , Wisconsin, Minnesota, Bethlehem, Puerto Rico, Puerto Rican
CNN —Oklahoma is soliciting bids for Bible suppliers to provide their wares for the state’s education department – and the specific requirements fit Bibles endorsed by former President Donald Trump. The RFP requirements also say that the Bibles must have the Old and New Testaments, and include copies of the US Constitution. The Bibles sell for $60 online and, through his endorsement, the former president receives some of the proceeds, according to Oklahoma Watch. The RFP from superintendent Ryan Walters is part of his ongoing push to put Bibles in every classroom. In a statement, Oklahoma State Department of Education Director of Communications Dan Isett said the RFP was consistent with the “norms of state procurement.
Persons: Donald Trump, Lee Greenwood’s, Greenwood, , , Ryan Walters, Communications Dan Isett, Walters, ” Isett, Colleen McCarty, ” McCarty, “ Ryan Walters, ” Walters, Trump, Alicia Andrews, ” Andrews, he’s Organizations: CNN, Oklahoma Watch, Trump, Oklahoma State Department of Education, Communications, Oklahoma Appleseed Center for Law & Justice, The New York Times, Conservative, Liberty, Prosperity, Oklahoma Democratic Party Locations: Independence, New Testaments, Oklahoma
"It also increases the possibility of a no-landing as well, meaning even stronger economic data for 2025 than we currently expect." watch nowBeyond that, it virtually eliminated any chance that the Federal Reserve would be repeating its half percentage point interest rate cut from September anytime soon. But broadly speaking, the news was very good and raised questions over just how aggressive the Fed will need to be. Jones said the Fed will have a dilemma on its hand as it figures out the proper policy response. "In an election year, passions run high and every economic report or event can garner intense reaction.
Persons: Anna Rose Layden, We've, Beth Ann Bovino, Friday's nonfarm, Dow Jones, Bovino, David Royal, Kathy Jones, Charles Schwab, Jones, they're, Elizabeth Renter Organizations: Outfitters, Getty, Federal Reserve, U.S . Bank, Fed, Fed Bank of America, Wall, U.S Locations: Tysons , Virginia, U.S
Bitcoin investors are grappling with a demand dearth that has pushed the cryptocurrency into bear market territory at times. (In the first quarter, bitcoin ETFs bought about 9,000 BTC daily on average, following their January launch.) In the fourth quarters of 2012, 2016, and 2020 — the previous Bitcoin halving years — bitcoin prices rose by 9%, 59%, and 171%, respectively. The most recent halving — the supply cutting event that takes place every four years — happened this April. BTC.CM= YTD mountain Bitcoin (BTC) year-to-date Bitcoin is set up well for the final quarter , but it's still working through a supply overhang from the U.S. and German governments as well as Mt.
Persons: It's, John Todaro, Needham, uptrend, it's, Wolfe, Rob Ginsberg, Owen Lau, Oppenheimer Organizations: CNBC, BTC, Federal Reserve, U.S Locations: China, U.S
Housing is one of many issues Vance, the Republican nominee, believes are rooted in the arrival of undocumented migrants in America. But many economists caution that connecting rising numbers of immigrants to housing costs is no simple thing. Other economists have noted links between immigrants and increased housing costs. Vance later shared two studies on housing and immigration that showed a link between increased immigration and rising housing costs — though each offered various caveats, including noting that the impact changes over time. Indeed, Zillow data shows a clear upward trend in Springfield rents this year compared with 2023.
Persons: America’s, Sen, JD Vance, Tim Walz, Vance, you’ve, ” Vance, Donald Trump, Walz, , ” Walz, Kamala Harris, Ernie Tedeschi, Joe Biden, Vance’s, Michelle Bowman, Chris Herbert, Herbert, Sharon Cornelissen, Bryan Heck, Democratic Sen, Sherrod Brown, Heck, ” Heck Organizations: Minnesota Gov, Republican, CBS, Democratic, NBC, White House, Federal, Cato Institute, Harvard University’s, for Housing Studies, Consumer Federation of America, NBC Boston Locations: Ohio, America, Springfield , Ohio, U.S, New York City, Los Angeles, Dearborn, Hamtramck, Detroit, Brockton , Massachusetts, Haiti, Cape Verde, Central, South America, Springfield, Washington
Utilities are having their best rally in decades , propelled by artificial intelligence enthusiasm and the prospect of lower interest rates, but some investors are cooling on the sector. Rate-sensitive utilities are now the best-performing sector in the S & P 500 in 2024, jumping more than 28%. The sector is on pace for its best year since 2000, when it climbed more than 50%. XLU XLK,.SPX YTD mountain Utilities versus tech and the S & P 500 in 2024 Utilities are viewed as an outsized beneficiary of lower borrowing costs due to their high capital requirements. For the time being, investors are still flocking to the names: Vistra and Constellation hit fresh all-time highs on Thursday.
Persons: XLU XLK, Jason Goepfert, Kathryn Rooney Vera Organizations: Vistra Corp, Constellation Energy
The euro languished not far from a three-week trough reached in the previous session, after normally hawkish European Central Bank policymaker Isabel Schnabel took a dovish tone on inflation, cementing bets for a rate cut this month. Currently, traders lay 34.6% odds of another 50 basis-point U.S. rate cut on Nov. 7, after the Fed kicked off its easing cycle with a super-sized reduction last month. "I do think that if the payrolls report overall is not too shabby tomorrow night, then we will see that pricing (for a 50 basis-point cut) coming in quite significantly." The dollar added 0.09% to 146.575 yen after earlier reaching 146.885 for the first time since Sept. 3. The euro was little changed at $1.10455, sitting not far from Wednesday's low of $1.10325, a level last seen on Sept. 12.
Persons: European Central Bank policymaker Isabel Schnabel, Ray Attrill, Attrill, Asahi Noguchi, Sterling Organizations: Federal Reserve, European Central Bank, Private U.S, ADP, Fed, National Australia Bank, Dovish Bank of Japan Locations: U.S, Iran, Israel
That said, everyone seemed to agree that the days of logo-forward purchases and other conspicuous signs of wealth are over — even on Wall Street. The industry's movers and shakers are still into name brands but are leaning into those that exude "quiet luxury." And where there are celebrities and influencers, there tend to be Wall Street dealmakers. It's not surprising that high-earners on Wall Street would have second homes (or, in many cases, multiple). The HamptonsThe beach towns of the Hamptons have long been a Wall Street favorite thanks to their proximity to Manhattan.
Persons: , Ken Griffin, David Solomon, Goldman Sachs, Stephen Schwartzman, Blackstone, Jessica Cadmus, Cadmus, Marie Kondo —, I've, I'd, Zegna, Tom Ford, Claudio Lavenia, Van, Cartier, Jeremy Moeller, Hermes, Gucci, Jeremy Strong, Armani, Max Mara, Celine, Bottega, It's, it's, Sean Zanni, Wall Streeters Organizations: Service, Goldman, JPMorgan, Business, Paris Olympics, Bloomberg, Citadel, Anadolu, Getty, Wall Street, Street, BI, Wall, HBO, Hamptons Locations: Queens, New York, New York City, Africa, Costa Rica, Bottega Veneta, Manhattan, Montauk, Nantucket, Cape Cod, East Hampton , NY, Hudson
Over time, riskier assets have outperformed cash and cash alternatives, said Brian Rehling, its head of global fixed income strategy. Different types of fixed income Investors can benefit from different types of fixed income in their portfolios, Citi said. But since then, both stocks and high-yield fixed income have increased in price. "Investors should consider taking advantage of any pullbacks in these asset classes to reposition overallocations to short-term fixed income," it said. Meanwhile, it likes U.S. intermediate term taxable fixed income, as it prefers bonds with maturities of between three and seven years.
Persons: Steven Wieting, Brian Rehling, Wells Fargo, overallocations Organizations: U.S . Federal Reserve, Fed, Citi, Wells Fargo Investment Institute, Securities . Investment Locations: Wells Fargo, Wells
Goldman's forecast implies roughly 37% upside ahead for Dell stock from its $113.16 close on Tuesday. Dell stock has surged more than 51% in 2024. In particular, Ng pointed to Dell's $3.8 billion AI server backlog in the second-quarter as a prime example of robust demand. "Enterprise and sovereign AI opportunities are in earlier stages of adoption, and the company continues to optimize its organization to address AI demand across customer verticals and regions," Ng said. "AI server margins should improve over time through a greater mix of higher margin services revenue and a diversification to a larger number of AI server customers."
Persons: Goldman Sachs, Michael Ng, Ng, Dell, DELL Organizations: Dell Technologies, Dell, Enterprise, Windows Locations: Texas
India's recent stock market surge has investors viewing the country as an emerging market poised for long-term outperformance. The India NSE Nifty 50 Index , the country's domestic stock market benchmark, has soared 18.7% this year, hitting record levels. "The data show that, historically, the Indian market has offered robust returns with reduced volatility." Going back to 2015, INDA has seen bigger annual gains and smaller declines than the broader emerging market fund. How to play the Indian market Financials are among investors' favorite spots in India's booming stock market.
Persons: It's, Malcolm Dorson, Dorson, GlobalX, Russell, , EEM, INDA, Amr Abdel Khalek, Khalek, Jerome Powell, Venugopal Garre, Krishna Mohanraj, You've, Mohanraj Organizations: India NSE, Global, CNBC, U.S, Federal, Fed, Nasdaq, China, MRB Partners, Traders, Barclays, Diamond Hill Capital Management, HDFC Bank, ICICI Bank, Axis Bank, ICICI, HDFC, Whitehaven Coal, Prestige Estates Locations: India, China, Dorson, U.S, Whitehaven
Asia-Pacific markets are mixed on Tuesday, after Federal Reserve Chair Jerome Powell indicated the recent outsized cuts enacted by the U.S. central bank should not be interpreted as a sign that future moves will be as aggressive. "If the economy performs as expected, that would mean two more rate cuts this year, a total of 50 [basis points] more." The current federal funds rate stands at 4.75%-5%, with the expected additional 50 basis points in cuts set to take the Fed's benchmark interest rate to 4.25%-4.5% at the end of 2024. In Asia, traders will focus on the Bank of Japan's third quarter Tankan survey, which measures the level of business optimism among large Japanese companies. As such, the member said, "the Bank will not raise its policy interest rate when financial and capital markets are unstable."
Persons: Jerome Powell, Morgan Stanley, Ellen Zentner Organizations: Federal, U.S, Bank of, U.S . Federal Reserve, Liberal Democratic Party, Bank, Reuters Locations: Asia, Pacific, Japan
Though the S & P 500 is up more than 20% in 2024, Evercore ISI sees a patch of volatility ahead as the November presidential election approaches — and the firm has stocks to play either outcome. Evercore ISI thinks that automotive components manufacturer Aptiv could rise in the event of a Harris/Walz win. Evercore ISI called the bank "a flight to quality name," saying it was in a competitive position despite an uncertain backdrop. If Trump wins, Charter Communications is one stock that could benefit from a "potentially benign tax environment" and a pickup in M & A activity, Evercore ISI said. Supermarket operator Kroger could also outperform due to its ability to pass through higher prices to consumers, according to Evercore ISI.
Persons: , Evercore, Kamala Harris, Donald Trump, Julian Emanuel, Emanuel, Harris, Walz, APTV, Colin Langan, Brian Meredith, Michael Rollins, Arun Sundaram Organizations: ISI, Democratic, Government, United, Affordable, Medicare, Wells Fargo, Smart, PNC Financial Services, Evercore ISI, PNC, UBS, Trump, Charter Communications, Citi, Kroger Locations: Wells, Regional
Mexico City Associated Press —Claudia Sheinbaum will take the oath of office Tuesday as Mexico’s first female president in more than 200 years of independence, promising to protect an expanded social safety net and fight for the poor like her predecessor, but facing pressing problems. Sheinbaum romped to victory in June with nearly 60% of the vote, propelled largely by the sustained popularity of her political mentor, former President Andrés Manuel López Obrador. “So, where López Obrador was charismatic, Claudia Sheinbaum will have to be effective.”He is not leaving her an easy situation. Things with its northern neighbor were already tense after López Obrador said he was putting relations with the US embassy “on pause” after public criticism of the proposed judicial overhaul. López Obrador built a massive new oil refinery and poured money into the state-owned oil company.
Persons: Claudia Sheinbaum, Mexico’s, Sheinbaum romped, Andrés Manuel López Obrador, Sheinbaum, “ López Obrador, , Carlos Pérez Ricart, López Obrador, Hurricane John, Hurricane Otis, John, Ismael “ El, Guzmán López, Donald Trump, Trump, Jill Biden, Sheinbaum’s, Jennifer Piscopo Organizations: Associated Press, National Guard, Mexico’s Center for Economic Research, Hurricane, Ismael “ El Mayo ” Zambada, , Royal Holloway University of London Locations: Mexico, Acapulco, Pacific, Hurricane, Culiacan, Sinaloa, United States, Tijuana, Chiapas, Canada, America
Morgan Stanley upgrades Blackline to overweight from equal weight Morgan Stanley said the software company is undervalued. Morgan Stanley upgrades US Bancorp to overweight from equal weight Morgan Stanley said U.S. Bancorp is well-positioned going forward. Barclays reiterates Tesla as equal weight Barclays says it's not sure the EV maker's upcoming robotaxi day will be a game changer. Morgan Stanley reiterates Apple as overweight Morgan Stanley says the iPhone 16 cycle remains "unchanged" for now for Apple. Morgan Stanley downgrades JPMorgan to equal weight from overweight Morgan Stanley sees better value elsewhere than shares of JPMorgan.
Persons: Wolfe, Hess, Brent, Morgan Stanley, reprice, Cantor Fitzgerald, Cantor, Tesla, it's, Uber, Apple, Goldman Sachs, Goldman, JPMorgan, Piper Sandler, Piper, Forman, Gamble, TD Cowen Organizations: Chevron, Bancorp, U.S, MU, Autodesk, Barclays, Citi, Meta, Apple, Pro, Westlake, Resources, JPMorgan, DIS, Brown, Barclays downgrades Procter, Accenture, UBS, Brookfield, Partners Locations: AVGO, ASML, TER, OW, 4Q24
Gold pulls back but dovish Fed sets it for best quarter since 2016
  + stars: | 2024-09-30 | by ( ) www.cnbc.com   time to read: +2 min
Ingots of 99.99 percent pure gold are placed in a workroom at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, January 31, 2023. Spot gold was down 0.2% at $2,653.38 per ounce, as of 0404 GMT, owing to a rise in the U.S. dollar . A stronger dollar makes gold less attractive for other currency holders. Bullion has risen slightly over 14% so far this quarter, its best since January 2016. This boosted expectations of an another outsized interest rate cut at the Fed's November policy meeting.
Persons: Tim Waterer, nonfarm, Jerome Powell, Michelle Bowman, Waterer Organizations: U.S ., Federal, KCM, U.S, Sunday Locations: Siberian, Krasnoyarsk, Russia, U.S, Israel, Yemen, Lebanon
People walk past election campaign billboards showing Austrian Chancellor Karl Nehammer of the Austrian People's Party (OeVP) and Herbet Kickl of the far-right Austria Freedom Party (FPOe) on September 24, 2024 in Vienna, Austria. A far-right party founded by former Nazis appeared to have won Austria's election Sunday, in a result that could reshape Europe's political landscape and help tilt the balance of power between Russia and the West. They appear to have edged out the ruling conservative Österreichische Volkspartei (ÖVP) or Austrian People's Party, into second place with 26.2% of the vote. But even if the party fails to form a coalition government, the result will serve as a symbolic victory for the far-right. The OVP is the only party that has been open to allying with the far-right party in the past, and it remains to be scene whether they will accept the role of sidekick this time around.
Persons: Karl Nehammer, Österreichische, Herbert Kickl, Adolf Hitler, Kickl, Vladimir Putin —, Alexander Smith, Carlo Angerer Organizations: Austrian People's Party, Freedom Party, Party, Social Democratic Party of Austria, ÖVP, OVP, NATO, NBC Locations: Vienna, Austria, Russia, Europe, East, North Africa, Ukraine, Germany, France, Netherlands
Though Austria is a member of the European Union, its far-right party leading the polls has strong links with Russian President Vladimir Putin — the bloc’s arch nemesis. The chairman and top candidate of the Freedom Party of Austria Herbert Kickl waves to supporters after kicking off his party's electoral campaign on September 7, 2024 in Graz, Austria. Kickl’s vision is to build “Fortress Austria” and “Fortress Europe,” as he put it during a debate on Austrian public television Thursday night. In 2016, party leader Heinz-Christian Strache signed a formal “cooperation pact” with Putin’s United Russia party. The FPÖ’s return is far from certain, currently polling at 27%, narrowly ahead of the ruling Austrian People’s Party on 25% and the Social Democratic Party of Austria on 21%, according to European polling aggregator PolitPro.
Persons: that’s, Adolf Hitler —, it’s, Vladimir Putin —, Peter Filzmaier, Kerms, Herbert Kickl, , Hitler, Kickl, Freedom Party of Austria Herbert Kickl, Alex Halada, Nazi ”, , Karl Nehammer, Andreas Babler, Joe Klamar, Gabriela Bacher, Donald Trump, Heinz, Christian Strache, Karin Kneissl, Putin, Strache, Victor Orban, Bacher Organizations: Freedom Party, NATO, Ukraine, Moscow, European Union, Gratz, Freedom Party of Austria, Getty, Immigrants, , Austrian, Nazi, Austrian People’s Party, Social Democratic Party, NBC, Trump, NBC News, Putin’s United, Social Democratic Party of Austria Locations: Austria, Russia, Europe, Graz, AFP, East, North Africa, Jerusalem, Austrian, Vienna, American, Austrian Republic, Ukraine, Putin’s United Russia, Russian, Moscow, Slovakia, Hungary, Republic
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