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But many people are still wondering, what does a rate cut mean for my money? For those who’ve been waiting it out, the rate cut “will instill some hope in folks,” said Elizabeth Renter, senior economist at NerdWallet. Consider your (improved) debt repayment optionsThis week’s rate cut was good news for those struggling to unload themselves of credit card debt. They’re a popular savings instrument when interest rates are high, and as most economists expected, CD rates have already started declining since the Fed’s interest rate cut. “This rate cut is not something that should trigger you to go make any drastic changes to the overall direction of your portfolio,” he added.
Persons: Jerome Powell, , Elizabeth Renter, Michele Raneri, , “ It’s, Rodney Lake, It’s, cardholders, Now’s, Lake, don’t, Freddie Mac, ” Renter, they’ve, Raneri, Lee Baker, there’s, Bankrate, Baker, it’s, , “ Don’t Organizations: NerdWallet, TransUnion, Federal Trade Commission, GW Investment, George Washington University School of Business, Apex Financial Services, P Locations: U.S
Read previewNikki, a recent college graduate, has been struggling to find a job after completing her degree in biochemistry this year. While a cooling job market has made it harder for Americans of all ages to find work, young college grads are among the groups being hit the hardest. This means young college grads have been more likely to be unemployed than the broader population, even as the job market has returned to a more normal post-pandemic state over the past two years. "If you don't have a job, if you're a new grad, finding a job is actually unusually difficult." AdvertisementAre you a recent college graduate who's struggling to find a job?
Persons: , Nikki, She's, Zers, grads, Julia Pollak, Pollak, Gen Zers, that's, Nick Bunker, who's Organizations: Service, Business, Federal Reserve Bank of New, LinkedIn, Federal Reserve Locations: Federal Reserve Bank of New York
The market cap for stablecoins — cryptocurrencies that promise a fixed value peg to another asset — has recently reached all-time-high levels after a sharp drop in 2023. Monthly payments in stablecoins tripled to $1.4 trillion in the 12 months leading up to July. This could have investment implications for Robinhood down the road, he added, as it "continues integrating stablecoins for crypto trading & cross-border transfers." Crypto investors watch stablecoins closely for evidence of demand, liquidity and activity in the market. PayPal last year launched its own dollar-backed stablecoin, while Visa has been supporting stablecoin payments and Mastercard is supporting stablecoin wallets and other crypto card programs.
Persons: , Bernstein, Gautam Chhugani, Kevin Dede, Wainwright, Dede, Goldman Sachs, Wells, Rob Goldstein, Michael Bloom Organizations: H.C, JPMorgan, PayPal, Visa, Mastercard, BlackRock, New, Financial Locations: New York City, Boston, New York
Morgan Stanley upgrades Centessa Pharmaceuticals, to overweight from equal weight Morgan Stanley said in its upgrade of Centessa that it's bullish on the biopharma company's narcolepsy treatment. Morgan Stanley downgrades Pepsi to equal weight from overweight Morgan Stanley said it sees "topline softness." Morgan Stanley names Nio a research catalyst idea Morgan Stanley said it's bullish on Nio after the China electric vehicle company debuted its latest model, the L60. Morgan Stanley downgrades FedEx to underweight to from equal weight Morgan Stanley downgraded FedEx following its disappointing earnings report on Thursday. Morgan Stanley reiterates Sunrun as overweight Morgan Stanley said the solar company has more room to run and that it's long term bullish on the company's partnership with Costco.
Persons: Jefferies, Morgan Stanley, Morgan Stanley downgrades Pepsi, Key, it's bullish, Riley, Reddit, Nio, it's, Bernstein downgrades Darden, Bernstein, Olive, DRI, Morgan Stanley downgrades ASML, Wells, Susquehanna, Evercore, Sunrun, Tesla, Mercado Organizations: Duke Energy, Centessa Pharmaceuticals, Amkor, China, UBS, Apple, RBC, FedEx, Deutsche Bank, American Airlines Deutsche, Susquehanna, Darden, Costco, Bank of America, Citi, Nike, Mercado Libre, Clearway Energy Locations: Nio, tailwinds, Olive, Argentina
"Ultimately shirking fiduciary responsibility to employees, consumers, and shareholders." Twenty civil rights organizations sent a letter Thursday to Fortune 1000 companies calling for them to recommit to diversity, equity and inclusion, after several major companies scaled back their efforts. She emphasized that LGBTQ+ consumers have $1.4 trillion of buying power, as reported by the National LGBT Chamber of Commerce. But a small, well-funded, and extreme group of right-wing activists is attempting to pressure companies into abandoning their DEI programs. Abandoning DEI will have long-term consequences on business success -- ultimately shirking fiduciary responsibility to employees, consumers, and shareholders.
Persons: Bill Ackman, Molson Coors, Harley Davidson, George Floyd, Forman, Kelley Robinson, CNBC's, Robinson, Brown, Lowe's, John Deere, Harley, Davidson, Edelman Organizations: National Action Network, Molson, Ford, Tractor Supply, Human Rights, HRC, Brown, National LGBT Chamber of Commerce, Molson Coors, . Tractor Supply, Companies, McKinsey & Company, Pew Locations: New York City, Rural, United States
Read previewTwenty years ago, inside a humble one-bedroom apartment in San Francisco's South of Market neighborhood, Kamala Harris might've one day dreamed of running for president. Ji has listed the apartment on Airbnb with a minimum of 30-night stays and advertises the "amazing opportunity to live inside the home previously owned by Vice President Kamala Harris." He's even added a commemorative wall with photos from her career, including the day she was sworn in as vice president, according to the listing. Setty served South Indian dishes to guests as they watched Harris debate former President Donald Trump, the Times said. The Times reported that Setty called Harris a "rock star" when talking with other supporters at the debate party.
Persons: , Kamala Harris might've, Harris, Joe Biden, Zhengtao Ji, David, wasn't, Ji, Kamala Harris, hasn't, Lata Setty, Setty, Donald Trump Organizations: Service, Democratic, The New York Times, Business, Times, The Times, Naval Observatory Locations: San Francisco's, Market, California, Brentwood, Los Angeles, Washington, DC
Franklin Templeton's Yi Ping Liao describes the South Asian country as "a fertile hunting ground to identify stocks." And if this continues, you can potentially see lower equity risk premiums for the market," the assistant portfolio manager told CNBC Pro on Sept. 12. She likes that the Indian market offers the "opportunity to identify good stocks," following an improvement in its breadth. Among the names Liao is betting on is automaker Tata Motors . Elsewhere, in the tourism and hospitality industry, the portfolio manager likes hotel chain Indian Hotels — the company behind premium brands like Taj, Vivanta and Ginger.
Persons: Franklin Templeton's Yi Ping Liao, Liao, Franklin, Morgan Stanley, China's, Vivanta, Ginger, India's financialization Organizations: CNBC Pro, Templeton, Growth, IMI, Bombay Stock Exchange, World Economic, Bain & Company, Tata Motors, Tata, Apollo, Max Healthcare Institute, Insurance, Taj, HDFC Bank, ICICI Bank, Kotak Mahindra Bank Locations: India, Asia, China, U.S
The decision marks a significant shift from Amazon's earlier policy, which required employees to badge in three days a week. Following the announcement, anxious workers have flooded LinkedIn and X feeds with posts wondering if their companies would be next to get rid of flexible work arrangements. Just one-third (33%) of U.S. companies require employees to come to the office five days a week, according to recent data from Flex Index, a platform that tracks companies' flexible work policies. Under 10% of tech companies with more than 1,000 employees have such a requirement. "We might see other smaller tech companies follow Amazon's lead, but most will continue sticking to some kind of hybrid arrangement," he says.
Persons: Andy Jassy, Jassy, we've, Dan Kaplan, haven't, Brian Elliott, hasn't, Kaplan, Elliott, we'll Organizations: Amazon.com Inc, Amazon, Citigroup, Walmart, UPS, Kastle Systems, Flex, Workers, Employees Locations: Seattle , Washington, lockstep, U.S
Rep. Patrick McHenry, R-N.C., sharply criticized other politicians on Tuesday for making public comments about what the Federal Reserve should do with its interest rate policy. McHenry, the outgoing chair of the House Financial Services Committee, said it was an '"outrage" that some politicians are publicly lobbying the central bank about rate cuts. "Senators that are trying to direct the Fed on rate policy are really demeaning their role. McHenry's comments came one day before the U.S. central bank is widely expected to start cutting interest rates for the first time since 2020. Coming in the middle of a presidential election cycle, the change in Fed policy has stirred speculation as to whether the central bank would be influenced by political considerations.
Persons: Patrick McHenry, Kevin McCarthy, McHenry, , Jerome Powell, Joe Biden, Democratic Sens, Elizabeth Warren of, John Hickenlooper of, Sheldon Whitehouse, Warren, Whitehouse, Trump, Sen, Mike Lee, Trump's Organizations: Rep, U.S, Capitol, Federal, Financial Services, Senators, United, Trump, Democratic, Fed, Republicans, Georgetown University's Psaros, Financial Markets Locations: R, Washington, United States, U.S, Elizabeth Warren of Massachusetts, John Hickenlooper of Colorado, Rhode, Utah
QMill, a Finnish quantum computing startup, raised $4.5 million in seed funding. The startup was founded by Nokia Technologies' former CTO and a quantum computing professor. AdvertisementQMill, a newly launched quantum computing startup, has raised $4.5 million in seed funding. Based in Espoo, Finland, QMill was founded by a team that includes Nokia Technologies' former CTO, Hannu Kauppinen, and a quantum computing professor, Mikko Möttönen. Quantum computing has advanced significantly in recent years, but there are challenges slowing widespread adoption.
Persons: QMill, , Hannu Kauppinen, Mikko Möttönen Organizations: Nokia Technologies, Service, Business Locations: Espoo, Finland
International credit scores generally do not transfer to credit scores in the U.S. Nova Credit allows immigrants from some countries to apply for credit with an international credit score. FICO VantageScore Payment history (35%) Payment history (40%) Credit balance (30%) Length & type of credit (21%) Length of credit history (15%) Percent of credit used (20%) New credit (10%) Total debt/balances (11%) Mix of credit accounts (10%) Recent credit behavior and inquiries (5%) Available credit (3%)Varying reporting standardsOther countries have credit-scoring systems that differ from the United States. Check for applying without a U.S. credit history — While filling out a credit card application, check a box with "apply without having a U.S. credit history." Along with exploring credit scores, credit reports, and how to build credit, Jennifer analyzes how current economic trends impact everyday people and offers her expert advice on budgeting, saving, and growing wealth in today’s economy.
Persons: Misha Esipov, Dun, Bradstreet, Equifax, TransUnion, you've, Jennifer, Read Organizations: Nova Credit, Popular, Nova Credit's, Nova, American Express, Business, Yahoo, Finance, CBS, MSNBC, CNBC, Forbes, Black Enterprise, USA, The Johns Hopkins University Carey School of Business, Business Journalists Locations: U.S, United States, America, Experian, Nova, Canada, Japan, Australia, Brazil, Dominican Republic, India, Kenya, Mexico, Nigeria, Philippines, South Korea, Spain, Switzerland, TheGrio, New York City
More than 4,000 people have descended here for the Future Proof conference , a vast social gathering designed to give younger registered investment advisors and other investment professionals access to what they want. What they want, apparently, is an intense desire to network with other RIAs and investment professionals and find ways to grow their business. Reimagining the financial conference Future Proof is the brainchild of Barry Ritholtz, co-founder, chairman, and chief investment officer of Ritholtz Wealth Management, and CEO Josh Brown. This is the third year for the conference, but Ritholtz and company have been doing conferences for 15 years. Ritholtz describes it as an ongoing project to reinvent the financial conference concept, which he says is "moribund."
Persons: Barry Ritholtz, Josh Brown, Ritholtz, Van Eck, Matt Middleton, Adarsh, Brett Rodgriguez, Delon Mansour, Mansour, Shyamsundar, Harris, Consulting's Brett Rodgriguez, Akash Shah, Shannon Saccocia, Raj Dhanda, Ares Management, John Christmas, RIAs, They'll, Mike Novogratz, Anna Paglia, Bryan Whalen, Saira Malik, Lauren Goodwin, Scott Wapner, DoubleLine Capital's Jeff Gundlach, CNBC's, Jan van Eck, Matt Hougan, DJ Mick, There's, Bob Pisani, Jon Maier, JP Morgan, Pisani, Jan Van Eck, Marlena Lee, That's Organizations: Ritholtz Wealth Management, JPMorgan Chase, Capital Group, Street Global Advisors, Funds, Polaris Capital Management, Graystone Consulting, Investments, Investment, Ares, HPS Investment Partners, Global, Life Investments, Bitwise, Management, Dimensional Fund Advisors Locations: HUNTINGTON BEACH, Calif, Los Angeles, Iowa, California, Huntington Beach, San Diego, Michigan, ETFEdge.cnbc.com
The S & P 500 rebounded 4% this past week, almost clawing back all of the prior week's horrible decline. Fed watch The Fed is the big market event this week. ET: Fed rate decision Before the bell: General Mills (GIS) After the bell: Steelcase (SCS) Thursday, Sept. 19 8:30 a.m. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Jim Cramer, Jensen Huang's, Goldman Sachs, Jim, Huang, Lisa Su, Su, Vimal Kapur, Morgan, Brian Niccol, Wells, Morgan Stanley, Jerome Powell, They're, Lennar, Doug Yearley, Mills, LEN, Jim Cramer's, Spencer Platt Organizations: Federal, Dow, Nasdaq, Nvidia, Club, Technology, CNBC, Oracle, Devices, TAM, Apple, Honeywell, Starbucks, Barclays Global Financial Services, Fed, FedEx, homebuilder, Home Depot, Darden, Jim Cramer's Charitable, New York Stock Exchange, Getty Locations: Las Vegas, U.S, America, Horton, New York City
A national debt crisisAmericans are facing a credit card debt crisis, with millennials and Gen Z at the forefront of the struggle. If you're a consumer with average credit who tends to carry a credit card balance, McCarthy recommends seeking options for lower-interest repayment. If the Fed lowers interest rates as anticipated, you can expect personal loan interest rates to drop slightly, regardless of your credit score. "Many consumers struggling with high-interest debt have expressed confusion surrounding credit card APRs, and credit card companies are happy to keep it that way." "Many consumers believe that making the minimum payment is an effective way to manage their credit card debt," Elliot said.
Persons: , Z, James McCarthy, McCarthy, Jeremy Schneider, Schneider, Sophia Bera Daigle, Daigle, you've, Mark Elliot, Elliot Organizations: Federal, Service, Federal Reserve, Consumer Financial Protection Bureau, National Foundation, Credit, JPMorgan Chase, Capital Locations: millennials, U.S
Business: International Money Express is an omnichannel money remittance services company. IMXI offers money transfer services digitally through a network of agent retailers in the United States, Canada, Spain, Italy and Germany. It offers money remittance services to Latin America and the Caribbean countries, mainly Mexico and Guatemala. International Money Express is a money remittance services provider which enables consumers to send money from the United States, Canada, Spain, Italy and Germany to Mexico, Guatemala and other countries in Latin America, Africa and Asia. If the IMXI does not execute on a strategic plan, Voss will likely consider director nominations.
Persons: IMXI, Voss, Madison, Benefytt, Russell, Michael Purcell, Ken Squire Organizations: Express, Caribbean, La Nacional, Capital Management, MoneyGram, Benefytt Technologies, Madison Dearborn Partners, 13D Locations: United States, Canada, Spain, Italy, Germany, Puerto Rico, America, Caribbean, Mexico, Guatemala, Latin America, Africa, Asia, Dominican Republic, United Kingdom, Voss, Madison Dearborn, Western Union, Benefytt
I grew up working class and learned good work ethic from my parents. The novelty of cap erasers and Airheads from the school store wore off fast, and money didn't have much luster. In our part of Wisconsin, with its German roots and farm families, work ethic is our moral code. What 'good work ethic' means for your financesBecause it's in my DNA, I can't help but see a strong work ethic as a virtue. What I wish I'd learned about money earlierI'll always be grateful for the work ethic I learned from my parents ... and I wish I'd gotten the nuances of money a bit earlier in life.
Persons: , didn't, I'd, you've, I'm, fritz, it's, I've Organizations: Service, Quicken Locations: Midwest, Wisconsin
Here are Friday's biggest calls on Wall Street: Raymond James initiates Arm as outperform Raymond James said the semis company is well positioned for AI. Citi downgrades Capri Holdings to neutral from buy Citi said the risk/reward is more balanced for the owner of brands like Michael Kors. UBS reiterates Oracle as buy UBS raised its price target on the stock to $200 per share from $175. The feedback on Oracle's top-line growth was overall positive..." UBS reiterates PNC as buy UBS said the bank is a high conviction idea. " Citi resumes Eli Lilly as buy Citi resumed coverage of the stock and says it's well positioned.
Persons: Raymond James, Jefferies, SLG, CFRA, it's, datopotamab, Michael Kors, haven't, Morgan Stanley, EQT, Citi, Eli Lilly, Lilly, Tesla, BEV, Wells Organizations: Arm Holdings, ARM, Citi, Green, Kroger, Macquarie, Rio Tinto, Deutsche Bank, AstraZeneca, Deutsche, Capri Holdings, Barclays, Garmin, GM, BMO, GE, UBS, Oracle, Oracle's, PNC, JPMorgan, Netflix, JPMorgan downgrades Moderna, Nvidia, NVIDIA Locations: GenAI, New York, Rio, RIO, Las Vegas
Hong Kong CNN —A Chinese investment bank known for making some of the biggest deals in the country’s tech sector during its heyday has revealed it received a massive bill for 78 million yuan ($11 million) related to the disappearance of its star banker, Bao Fan. The request for payment from unspecified Chinese authorities only deepens the mystery surrounding the whereabouts of Bao, who founded boutique investment bank China Renaissance in Beijing in 2005 and made it one of the top dealmakers for Chinese tech firms. He helped broker the 2015 merger between two of the country’s leading food delivery services, Meituan and Dianping. In February 2023, China Renaissance reported him missing amid a wider anti-corruption crackdown. CNN has reached out to the investment bank for additional information.
Persons: Bao Fan, Bao, Mr Bao, Zhonghui, Deloitte Touche Tohmatsu Organizations: Hong Kong CNN, Economic Observer, Central Commission, CNN, Financial Times, China Renaissance, Zhonghui Anda CPA, Deloitte Locations: China, Hong Kong, Beijing, Dianping, Bao, Zhonghui Anda
Price action in the stock market suggests markets think Kamala Harris won Tuesday's debate. Investors reacted by selling assets tied to the "Trump trade," with declines in Trump Media stock and bitcoin. AdvertisementThe first Presidential debate between Kamala Harris and Donald Trump is over and markets have named the winner. Following Tuesday night's debate, markets are showing signs that Vice President Harris came out on top, with investors voting with their portfolios and selling assets tied to the so-called Trump trade. On the flipside, assets that could see a boost from a Kamala Harris presidency were up Wednesday.
Persons: Price, Kamala Harris, Trump, Harris, , Donald Trump, Matthew Ryan, Ebury, it's Organizations: Trump Media, Service, Trump, Technology Group, Truth, cryptocurrency, ING, ING Economics
CNBCWarren Buffett's Berkshire Hathaway offloaded another chunk of Bank of America shares, bringing its total sales to more than $7 billion since mid-July and reducing its stake to 11%. The latest action extended Berkshire's selling streak to 12 consecutive sessions, matching the 12 consecutive sessions from July 17 to Aug. 1. Berkshire has sold more than 174.7 million shares of the Charlotte-based bank for $7.2 billion, with 858.2 million shares remaining, or 11.1% of shares outstanding. BofA CEO Brian Moynihan made a rare comment about Berkshire's sales Tuesday, saying he has no knowledge of Buffett's motivation for selling. Stock Chart Icon Stock chart icon Bank of America
Persons: Warren Buffett, Berkshire Hathaway, BofA, Moynihan, Buffett Buffett, Brian Moynihan Organizations: Berkshire, CNBC Warren, of America, Apple, American Express, Oracle, Barclays Global Financial Services, Bank of America Locations: Omaha , Nebraska, Omaha, Berkshire, Charlotte, BofA
Read previewJensen Huang faces a monumental task as he takes center stage at a Goldman Sachs event on Wednesday: getting AI investors to stop panicking. However, there are signs suggesting that investors are getting pretty angsty over the future of Nvidia and AI more broadly. The markets are in a panic over AINvidia has been a powerhouse at the center of the generative AI boom. First, Nvidia's 122% year-on-year revenue growth in the last quarter was smaller than the 262% growth it recorded in the previous quarter. "I do not believe that Jensen is able to say anything that will quell investors' nerves," he said.
Persons: , Jensen Huang, Goldman Sachs, Chris Beauchamp, Jeff Chiu, Beauchamp, Bernstein, Emma Cosgrove, Huang, Blackwell, Alvin Nguyen, Forrester, Jensen Organizations: Service, Nvidia, Technology Conference, Business, Google, Meta, Microsoft, Santa, Big Tech, Blackwell Locations: San Francisco, Santa Clara
The collection's existence on your credit report can severely lower your credit score and impact future loans. Here's what you need to know about the impact of collections and how to get them removed from your credit report. As it ages on your credit report, its effect on your credit score will decrease until it falls off entirely. How can you remove collections from a credit report? There are a few different — and completely legal — ways you can try to remove it from your credit report to fix your credit score.
Persons: it's, there's, you've, Markia Brown, John Owens, Brown, Owens, Rick Eicheldinger, Zarrad, Eicheldinger, Jennifer, Read Organizations: Monterey Financial Services, Business, Yahoo, Finance, CBS, MSNBC, CNBC, Forbes, Black Enterprise, USA, The Johns Hopkins University Carey School of Business, Business Journalists Locations: America, TheGrio, New York City
All of our Super Six megacaps were higher, even Club stock Apple was pushing to stay in the green after getting mixed reviews on Monday's iPhone 16 event. That's an interesting line because you could argue that Starbucks needs to pullback its aggressive expansion plans in the world's second-largest economy. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Daniel Pinto, Pinto, JPMorgan's, else's, Jamie Dimon, Wells, Morgan Stanley, ramping, Brian Niccol, Niccol, Buster's, Jim Cramer's, Jim Organizations: CNBC, ., Apple, JPMorgan, Barclays Global Financial Services Conference, Dow, Starbucks, The Club, GameStop, Dave, Jim Cramer's Charitable Locations: Banks, U.S, United States, China
Edgar Su | ReutersBEIJING — European businesses in China have grown so discouraged with the outlook for operating in the country that Beijing must act if the companies are to invest further, according to the EU Chamber of Commerce in China. "We do believe actually that we are in sort of a tipping point situation. Foreign direct investment into China fell by 29.6% during the January to July period versus a year ago, according to China's Ministry of Commerce. Such changes are part of Beijing's pledges to reduce what it calls the negative list, a collection of industries off-limits to foreign businesses in the country. However, Eskelund said such developments, while encouraging, did not move the needle enough for European businesses, especially when members' optimism on profitability in China for the next two years is at an all-time low.
Persons: Edgar Su, Jens Eskelund, Eskelund Organizations: of, Initiative, Reuters, EU Chamber of Commerce, China's Ministry of Commerce Locations: Beijing, China, Reuters BEIJING, Growth
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCrypto will be 'big boon' for financial services over time, Robinhood CEO says: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Steven Lubka, head of private clients at Swan Bitcoin, discusses how each potential outcome in the U.S presidential election could influence crypto prices.
Persons: explainers, Steven Lubka, Swan Bitcoin Organizations: CNBC Crypto, CNBC, Swan
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