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☆ This power company has outpaced Nvidia, could ink next nuclear deal after Three Mile Island
▼ + stars: | 2024-09-20 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

Constellation Energy plans to restart the Three Mile Island nuclear plant , with operations slated to resume in 2028 subject to approval by the Nuclear Regulatory Commission. It demonstrates the growing financial opportunity that nuclear power represents for utilities and their investors. VST YTD mountain Vistra shares, YTD The power company, headquartered outside Dallas, is viewed as one of the lead contenders to ink a data center nuclear deal next. "Vistra's timely acquisition of nuclear portfolio Energy Harbor in 2023 gives the company a coveted nuclear portfolio," the analysts said. Burke specifically called out Comanche Peak, a twin reactor nuclear plant with 2.4 gigawatts of capacity outside Forth Worth, Texas.

Persons: Vistra, Shahriar Pourreza, Jefferies, Julien Dumoulin, Smith, Jim Burke, Burke, John Ketchum, Duane Arnold, Ketchum, NextEra, Robert Blue Organizations: U.S, Constellation Energy, Nuclear Regulatory Commission, Microsoft, Vistra Corp, Nvidia, Energy, Guggenheim Securities, Wall Street, Jefferies, NextEra Energy, Dominion Energy, Dominion Locations: Dallas, Ohio, Pennsylvania, Energy Harbor, Forth Worth , Texas, Iowa, FactSet, Waterford , Connecticut

☆ An under-the-radar corner of the stock market has the green light for a 'powerful' catch-up rally, Goldman Sachs portfolio manager says
▼ + stars: | 2024-09-20 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Small-cap stocks are poised for a significant rally, Goldman Sachs' Greg Tuorto said. The portfolio manager pointed to lower interest rates and a promising economic backdrop for small-caps. The presidential election could also be a positive catalyst, leading to a catch-up rally, he said. That's according to Greg Tuorto, a portfolio manager at Goldman Sachs Asset Management who says he sees a big "catch-up" rally coming for small-cap stocks. AdvertisementThe Russell 2000 surged 2% after the Fed cut interest rates on Wednesday, with the small-cap index up 12% year-to-date.

Persons: Goldman Sachs, Greg Tuorto, —, Tuorto, it's, Fundstrat's Tom Lee Organizations: Service, Goldman Sachs, Management, CNBC, Atlanta Fed

Now that the Fed has cut rates, mortgage rates may not drop much further in the near term. But if the Fed doesn't lower rates as much as expected this year, mortgage rates may hold steady or even inch up. But rates are still expected to come down further, so it may also be worth waiting to see how low mortgage rates go. 5-Year Mortgage Rate TrendsHere's how 30-year and 15-year mortgage rates have trended over the last five years, according to Freddie Mac data. Mortgage rates are determined by a variety of different factors, including larger economic trends, Federal Reserve policy, your state's current mortgage rates, the type of loan you're getting, and your personal financial profile.

Persons: Lawrence Yun, you'll, they've, Freddie Mac, it's, Fannie Mae Organizations: Federal Reserve, Wednesday, National Association of Realtors, Consumers, Zillow, ARM, Federal Housing Administration, Department of Veterans Affairs, Fed, Mortgage, Association Locations: Chevron

☆ What lower rates mean for markets
▼ + stars: | 2024-09-20 | by ( Krystal Hur | ) edition.cnn.com time to read: +4 min

The Fed on Wednesday lowered interest rates, marking the first rate cut since March 2020. A decline in interest rates should, theoretically, mean good news for the stock market. The Fed likely won’t take rates lower as aggressively as they were raised, unless the economy takes a downturn and necessitates loose economic conditions. While mortgage rates and bond yields have begun drifting lower, companies and consumers still might not feel the effects of lower rates right away. But investors with outsized positions in Big Tech stocks should eye beaten-down areas of the market that benefit from lower interest rates, says Diton.

Persons: Dow, Jerome Powell, ”, Jeff Buchbinder, Powell, Eric Diton Organizations: New, New York CNN, Federal, Fed, Nasdaq, LPL, Wealth Alliance, Tech, Meta, Apple, Big Locations: New York, Big Tech

☆ Why a top analyst just raised his year-end S&P 500 price target to the highest on Wall Street
▼ + stars: | 2024-09-20 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

BMO's Brian Belski raised his S&P 500 price target to 6,100, signaling 7% upside by year-end. In a note on Thursday, Belski raised his S&P 500 price target for 2024 to 6,100, representing potential upside of 7% over the next three months. Belski's prior 2024 price target for the S&P 500 was 5,600. AdvertisementBelski also finds it encouraging that recent stock market gains have not been concentrated in just the mega-cap technology stocks. AdvertisementBased on Belski's 6,100 price target, that implies a price-to-earnings ratio of 24.4x, which is above historical averages.

Persons: Brian Belski, —, Belski, Belski's Organizations: Service, BMO, Wall, Federal, Fed

☆ Pesky medical bill? Most people don't take a key step to manage that debt, study finds
▼ + stars: | 2024-09-20 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Getty ImagesConsumers may feel their medical bills are unyielding, inflexible, set in stone. About 26% of people who called because they disagreed with a charge or couldn't afford to pay it got their medical bill corrected after the outreach, according to the study, published in August. About 1 out of 5 respondents reported receiving a medical bill with which they disagreed or could not afford within the prior 12 months. How to manage medical billsConsumers should ask up front what a medical visit or procedure will cost, or inquire what the estimated cost will be, she said. Sometimes, consumers will pay "a heck of a lot less" if they pay in cash rather than via insurance, McClanahan said.

Persons: that's, Erin Duffy, Stocks, Duffy, Carolyn McClanahan, McClanahan Organizations: Getty, University of Southern, USC Schaeffer Center for Health, Economics, Finance, Savings, Bills, Financial, Planning Partners Locations: University of Southern California, Jacksonville , Florida

☆ Buffalo Bills fans can buy bonds to finance the team's new stadium
▼ + stars: | 2024-09-20 | by ( Jake Piazza | In | ) www.cnbc.com time to read: +2 min

Josh Allen, #17 of the Buffalo Bills, warms up prior to an NFL game against the Miami Dolphins at Hard Rock Stadium in Miami Gardens, Florida, on Sept. 12, 2024. It won't be an ordinary "Monday Night Football" gameday for Buffalo Bills fans next week. Erie County, where Buffalo sits, is selling the bonds to help fund half the $250 million it agreed to put up for the new stadium. The new stadium will be owned by the Erie County Stadium Corporation and the Bills will pay rent. The Buffalo Bills are 2-0 this season and take on the winless Jaguars on Monday night.

Persons: Josh Allen, Kevin Hardwick, Hardwick Organizations: Buffalo Bills, NFL, Miami Dolphins, Jacksonville Jaguars, Bills, Retail, Investments, CNBC's Official NFL, National Football League, Kansas City Chiefs, Erie, Stadium Corporation Locations: Miami Gardens , Florida, Orchard Park, Buffalo, Erie County, New York, Erie

☆ NewEdge Wealth: Lower interest rates should support small-caps, but with one 'major caveat'
▼ + stars: | 2024-09-20 | 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 EmailNewEdge Wealth: Lower interest rates should support small-caps, but with one 'major caveat'Cameron Dawson of NewEdge Wealth discusses the impact of lower interest rates for U.S. small-cap and financials stocks.

Persons: Cameron Dawson Organizations: NewEdge

☆ Panthers-Raiders game marks a first for the NFL with two women presidents at the helm
▼ + stars: | 2024-09-20 | by ( Jessica Golden | ) www.cnbc.com time to read: +3 min

"I'm really proud of this moment," Carolina Panthers President Kristi Coleman told CNBC ahead of the game. The game is the first time two female presidents will go head-to-head in professional football. When the Carolina Panthers take on the Las Vegas Raiders on Sunday, it will mark a historic first for the National Football League. The NFL says 22 women currently hold full-time coaching positions in the NFL. As part of growing and developing that pipeline of women, the NFL holds an annual Women's Forum.

Persons: Kristi Coleman, David Tepper, Dave Canales, Coleman, Sandra Douglass Morgan, Mark Davis, Douglass Morgan Organizations: Carolina Panthers, CNBC, NFL, Las Vegas Raiders, National Football League . Carolina Panthers, Bank of America, Panthers, Tepper Sports & Entertainment, NFL League Office, The Institute, Diversity, University of Central Locations: Charlotte , North Carolina, Sport, University of Central Florida

☆ The Fed's lone dissenter on the big rate cut says she's concerned about 'premature declaration of victory' over inflation
▼ + stars: | 2024-09-20 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

In a historic dissent, Michelle Bowman, a Fed governor, advocated instead for a smaller 25 basis point cut. AdvertisementLeading up to the rate cut, Fed Chair Jerome Powell repeatedly emphasized the Fed's goals of maximum employment and a 2% inflation rate. Bowman said she believes inflation could come closer to the Fed's target with more gradual easing, which would avoid a spike in demand from lower borrowing costs. AdvertisementBowman has long advocated for tighter monetary policy to rein in inflation, skewing hawkish among the Fed's members. "We should keep in mind the historical lessons and risks associated with prematurely declaring victory in the fight against inflation," Bowman said in a speech last year.

Persons: —, Michelle Bowman, Bowman, Jerome Powell, Powell Organizations: Service, Fed, Business, New York Fed

☆ Stock market today: Indexes edge down as traders hit pause after rally to record highs
▼ + stars: | 2024-09-20 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks traded slightly lower as investors pressed pause on the rally to record highs. The S&P 500 and Dow Jones hit record highs on Thursday after the Federal Reserve's 50 basis point rate cut. Heavy trading is expected on Friday due to option expirations and S&P quarterly index rebalancing. AdvertisementUS stocks traded sightly lower on Friday as investors pressed pause on the ongoing rally to record highs. The so-called triple witching day occurs when there is a simultaneous expiration of stock options, index options, and index futures contracts.

Persons: Dow Jones, —, Thursday's, Jerome, Brian Belski, Michael Reinking, Reinking Organizations: Federal, Service, Dow Jones, Nasdaq, NYSE, Here's

An American Airlines' Embraer E175LR (front), an American Airlines' Boeing 737 (C) and an American Airlines' Boeing 737 are seen parked at LaGuardia Airport in Queens, New York on May 24, 2024. American Airlines is in talks to make Citigroup its exclusive credit card partner, dropping rival issuer Barclays from a partnership that dates back to the airline's 2013 takeover of US Airways, said people with knowledge of the negotiations. Banks' co-brand deals with airlines, retailers and hotel chains are some of the most hotly contested negotiations in the industry. Carriers have said growth in card spending has far exceeded that of passenger revenue in recent years. While it says it has the largest loyalty program, American was out-earned by Delta there, which made nearly $7 billion in payments from its American Express card partnership last year, compared to $5.2 billion for American.

Persons: Banks Organizations: American Airlines, Embraer, Boeing, LaGuardia Airport, Citigroup, Barclays, US Airways, Consumer Financial Protection, Delta, American Express Locations: Queens , New York

☆ From gold and silver, to oil and aluminum: Where analysts see prices now the Fed has cut rates
▼ + stars: | 2024-09-20 | by ( Weizhen Tan | ) www.cnbc.com time to read: +6 min

HSBC in a Sept. 17 report examined the relationship between Fed rate cuts and copper and aluminum prices over the past 30 years. In its base case, Citi sees copper prices averaging $9,000 per ton for the rest of this year, citing U.S. election uncertainty and weak manufacturing sentiment. Energy Citi anticipates that oil will suffer renewed price weakness in 2025, with Brent falling to around $60 a barrel. Based on what happened in 2019, trade tariffs lowered global oil demand growth by 0.2 million barrels a day. A slowdown in China, among the world's largest importer and consumer of oil, has been blamed on slowing global oil demand.

Persons: annualized, it's, that's, Brent Organizations: U.S . Federal Reserve, Citi, HSBC, Commodities, Energy Citi Locations: China, U.S, Europe, Iran

☆ Indian ed-tech startup Physics Wallah bags $2.8 billion valuation amid sector troubles
▼ + stars: | 2024-09-20 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Indian education technology startup Physics Wallah announced on Friday that it had raised $210 million as it looks to expand its business, in part via acquisitions, amid troubles in the sector. The funding, led by Hornbill Capital, and involving Lightspeed Venture Partners, GSV and WestBridge, values the company at $2.8 billion, a significant increase from its last valuation of $1.1 billion. Physics Wallah, founded in 2020, is one of India's many education technology, or ed-tech firms, that offers free and paid-for courses for various competitive examinations in India. Pandey said the company is open to acquisitions provided it gives them access to new content and users. Last year, Physics Wallah brought a 50% stake in Xylem Learning, an ed-tech company headquartered in Kerala in south India.

Persons: …, Alakh Pandey, Pandey, Wallah Organizations: Hornbill Capital, Lightspeed Venture Partners, CNBC, YouTube Locations: India, Kerala

☆ Stock market today: US stocks end mixed but finish the week near record highs after the Fed's first rate cut in 4 years
▼ + stars: | 2024-09-20 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

The Federal Reserve's first interest rate cut since 2020 helped drive the week's gains. The anticipation and delivery of the Federal Reserve's first interest rate cut since 2020 helped drive the gains this week. The Fed issued a jumbo 50 basis point interest rate cut to "recalibrate" monetary policy, as Fed Chairman Jerome Powell put it nine times during his FOMC speech on Wednesday. US stocks soared on Thursday after declining slightly on Wednesday, as investors had more time to digest the Fed's interest rate decision. AdvertisementThe S&P 500 and Dow Jones Industrial Average both hit record highs on Thursday.

Persons: —, Jerome Powell, Raymond James, Larry Adam, Adam Organizations: Dow, Federal, Investors, Service, Nasdaq, Dow Jones, Fed, Dow Jones Industrial

☆ Cutting interest rates in China is irrelevant for its economy right now: Peter Boockvar
▼ + stars: | 2024-09-20 | 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 EmailCutting interest rates in China is irrelevant for its economy right now: Peter BoockvarPeter Boockvar of Bleakley Financial says China needs time to work through the problems facing its economy, and with market sentiment being so bearish, it is time to start looking for positive catalysts.

Persons: Peter Boockvar Peter Boockvar Organizations: Bleakley Financial Locations: China

☆ The good, bad, and ugly of life after rate cuts
▼ + stars: | 2024-09-20 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +1 min

You can sign up for Business Insider's daily newsletter here. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This story is available exclusively to Business Insider subscribers.

Persons: —, Jerome Powell Organizations: Business, Service

☆ Europe automaker shares slump after Mercedes becomes latest to cut 2024 guidance
▼ + stars: | 2024-09-20 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

An employee does final inspections on a Mercedes-Benz C-Class at the Mercedes-Benz US International factory in Vance, Alabama. Mercedes shares fell more than 8% Friday after becoming the latest carmaker to cut its guidance this year as sluggish demand in China and trade disputes weigh on the sector. Shares pared losses slightly to trade 6.9% lower as of 9:40 a.m. London time. "This affected the overall sales volume in China including sales in the Top-End segment. Overall, the sales mix in the second half of 2024 is expected to remain unchanged versus the first half, and therefore weaker than originally expected," the company said.

Persons: Mercedes Organizations: Benz, Mercedes, Benz US International, Volvo, BMW, Continental Locations: Vance , Alabama, China, London

☆ CNBC Daily Open: One day makes all the difference
▼ + stars: | 2024-09-20 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. "Recalibration" Fed Chair Jerome Powell's use of the word "recalibration" seemed to reassure investors that the central bank's 50 basis point cut wasn't that worrying. It signaled the Fed wasn't responding to a slowing economy, but shifting focus to ensuring employment doesn't dip further, wrote CNBC's Jeff Cox. At the end of Washington's song, she croons, "What a difference a day makes / And the difference is you."

Persons: BOE, Jerome Powell's, Jeff Cox, Dinah Washington, Oppenheimer, Brian Belski, Powell, –, Alex Harring, Fred Imbert, Hakyung Kim, Lisa Kailai Han Organizations: Nasdaq, CNBC, JPMorgan Chase, of England, Monetary, Fed, Dow, Nvidia, Apple, BMO Locations: New York, Dinah Washington . Washington

☆ Erik Menendez, a focus of Netflix's 'Monsters' season two, got married in prison. What to know about this wife.
▼ + stars: | 2024-09-20 | by ( Eammon Jacobs | ) www.businessinsider.com time to read: +1 min

In 1996, Lyle and Erik Menéndez were convicted for the 1989 murder of their parents. The case is the focus of Netflix's "Monsters: The Lyle and Erik Menendez Story." Here's what to know about Erik Menendez's wife, Tammi Menendez. Advertisement"Monsters: The Lyle and Erik Menendez Story" examines the lives of two brothers who in 1996 were convicted of murdering their parents. Lyle and Erik Menéndez are serving prison sentences for shooting their parents, Jose and Mary Louise "Kitty" Menendez.

Persons: Lyle, Erik Menéndez, Erik Menendez, Erik Menendez's, Tammi Menendez, —, Jose, Mary Louise, Kitty, Menendez Organizations: Service, Business

☆ What does the Fed’s interest rate cut mean for homeowners and potential buyers?
▼ + stars: | 2024-09-20 | by ( Samantha Delouya | ) edition.cnn.com time to read: +1 min

CNN —On Wednesday, the Federal Reserve cut interest rates for the first time since the early days of the COVID-19 pandemic, slashing its benchmark rate by half a percentage point and signaling more rate cuts by the end of the year. The supply of homes for sale hasn’t kept up with demand as homeowners who locked in ultra-low pandemic-era mortgage rates were less willing to sell their homes in a higher mortgage rate environment. Some experts believe falling rates could entice more homeowners to put their homes up for sale. In the past few months, rates have steadily fallen in anticipation of interest rate cuts. Does the Fed’s recent interest rate cut and the potential for more rate cuts in the future change your outlook as a homeowner or a potential homebuyer?

Persons: hasn’t, Freddie Mac Organizations: CNN, Federal Reserve

☆ Cramer's week ahead: New inflation data and earnings from Costco, KB Home
▼ + stars: | 2024-09-20 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

But regardless of the week's events, Cramer said the Fed's successful start to the easing cycle is leading the market in a positive direction. "We're in a rate cut cycle now, ok, it's very different from, from the last couple years. Next year should be better for the homebuilder than 2024 because the Fed is lowering rates, he added. Semiconductor outfit Micron will report earnings on Wednesday along with Cintas , which supplies a range of materials, including uniforms, to businesses. Retail grocery giant Costco reports on Thursday, and Cramer will be paying attention to which products are and aren't selling.

Persons: CNBC's Jim Cramer, Cramer, Raphael Bostic, Austan Goolsbee, Hewlett Packard Organizations: Costco, KB, Federal, Atlanta Fed, Chicago Fed, Apple, Semiconductor, Micron, Retail, Commerce Department

☆ Case for the Bank of England to go further and faster with rate cuts: Oliver Wyman
▼ + stars: | 2024-09-20 | 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 EmailCase for the Bank of England to go further and faster with rate cuts: Oliver WymanHuw van Steenis, vice chair of Oliver Wyman and former advisor to Mark Carney, discusses the Bank of England's decision to hold interest rates at its September meeting and the impact of public sector pay rises.

Persons: Oliver Wyman Huw van Steenis, Oliver Wyman, Mark Carney Organizations: Bank of England, Bank of

☆ Family offices are the most bullish they've been in years, survey says
▼ + stars: | 2024-09-20 | by ( Robert Frank | ) www.cnbc.com time to read: +2 min

Family offices are the most bullish they've been in years, putting their cash to work in stocks and alternatives as the Fed starts to cut interest rates, according to a new survey. Nearly all family offices, 97%, expect positive returns this year, and nearly half expect double-digit gains, according to Citi Private Bank's 2024 Global Family Office Survey. With interest rates heading down, family offices are also regaining their appetite for stocks. More than a third, 39%, of family offices plan to increase their allocation to developed-market equities, mainly the U.S., while only 9% plan to trim their equity exposure. That comes after 43% of family offices increased their exposure to public stocks last year.

Persons: Robert Frank, they've, Hannes Hofmann Organizations: Citi, Citi Private Bank

☆ Watch CNBC’s full interview with Greenwich Wealth's Vahan Janjigian and Allspring Global's Margaret Patel
▼ + stars: | 2024-09-20 | 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 CNBC’s full interview with Greenwich Wealth's Vahan Janjigian and Allspring Global's Margaret PatelVahan Janjigian, chief investment officer at Greenwich Wealth Management, and Margaret Patel, senior portfolio manager for multi-asset solutions at Allspring Global Investments, join 'The Exchange' to discuss slowdown strategies for stocks, the future of interest rates, and more.

Persons: Allspring Global's Margaret Patel Vahan Janjigian, Margaret Patel Organizations: Greenwich, Greenwich Wealth Management, Allspring Global Investments

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