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☆ Mark Cuban says that despite their differences, he understands Elon Musk's sense of humor
▼ + stars: | 2024-09-21 | by ( Cheryl Teh | Lloyd Lee | ) www.businessinsider.com time to read: +3 min

Read previewMark Cuban and Elon Musk have often sparred on X, Musk's social media platform. But Cuban says he does get the Tesla and SpaceX chief's sense of humor. Musk, for his part, likes to believe he's often engaging in harmless trolling on his social media platform, once proclaiming himself the Chief Troll Officer. Related storiesThe comment sparked a probe from the Secret Service, according to Bloomberg, which filed a Freedom of Information Act request with the agency for any documents referencing Musk's post. "We can say, however, that the Secret Service investigates all threats related to our protectees."

Persons: —, Cuban, Elon Musk, Brian Tyler Cohen, Taylor Swift, Kamala Harris, that's, Cohen, it's, Musk, Tesla, Donald Trump Organizations: Service, SpaceX, Business, Elon, Securities, Exchange Commission, Bloomberg

☆ Apple iPhones aren't coming with AI software. Here's why it doesn't matter.
▼ + stars: | 2024-09-21 | by ( Lloyd Lee | Lakshmi Varanasi | ) www.businessinsider.com time to read: +5 min

Apple Intelligence, the AI feature analysts believe will spark a consumer rush to update their iPhones, Business Insider previously reported, was not installed in the new iPhones straight out of the box. AdvertisementDespite the lines, the data shows that preorder sales took a hit this year — possibly due to the absence of Apple Intelligence. The average global shipping time for the iPhone 16 was 7 days compared to 9 days for the iPhone 15. Shipping times for the 16 Pro Max were 11 days compared to 19 days for the 15 Pro Max. The level of draw Apple Intelligence will have on customers is also in question.

Persons: —, Siri, Ron Witt, Witt, It's, Saul Campos, Campos, Tim Cook, it's, Mark Gurman, Chi Kuo, Kuo, Max, Gil Luria, Davidson, Techradar, Apple Organizations: Service, Apple, Apple Intelligence, Business, Apple's, CNBC, Reuters, Shipping, D.A, Consumer Intelligence Research Partners Locations: San Francisco, New York, Manhattan

☆ Simone Biles leads star-studded cast of US gymnasts headlining ‘victory lap’ Gold Over America Tour
▼ + stars: | 2024-09-21 | by ( Coy Wire | ) edition.cnn.com time to read: +3 min

Biles said in a press release that she is “so excited” and described the tour as “a victory lap around the US.”“It’s more of a celebration tour,” Biles told CNN’s Coy Wire ahead of the tour’s upcoming fourth show in San Jose on Saturday. Biles and co. visited Los Angeles on Friday, with the next leg of the tour scheduled to take place in San Jose on Saturday. This is the second Gold Over America Tour that Biles has led. The tour has been referred to by its acronym “GOAT,” more than likely a nod to Biles’ legendary standing in professional gymnastics. Part of warmup for a recent involved a spot of “goat yoga,” which saw Biles and Chiles balance a live goat on their backs.

Persons: Simone Biles, Biles, ” Biles, CNN’s Coy Wire, “, Jordan Chiles, Naomi Baker, Diana Taurasi, Brittney, Jordan Chiles –, Paris Olympics – Jade Carey, Hezly Rivera, Joscelyn Roberson, ” Chiles, CNN’s, ” Paul Juda, Brody Malone, Frederick Richard, Richard, Peter Cziborra, Reuters Canada’s Peng, Peng Lee, Ellie Black, Mélanie, Jesus dos Santos, Casimir Schmidt, Chiles Organizations: CNN, America Tour, America, Phoenix Mercury, Saturday, Paris Olympics, Reuters Locations: United States, San Jose, Paris, Oceanside , California, Phoenix, Los Angeles, Denver, Chicago, Houston, Atlanta, Orlando, Detroit, Netherlands

☆ Trump rallies in North Carolina as controversy engulfs his handpicked candidate for governor
▼ + stars: | 2024-09-21 | by ( Eric Bradner | ) edition.cnn.com time to read: +6 min

Robinson, the current North Carolina lieutenant governor, referred to himself as a “black NAZI,” expressed support for reinstating slavery, made repeated graphic sexual comments and more. Trump defeated Joe Biden by 1 point in North Carolina in 2020. North Carolina is an vital part of that plan. However, the lieutenant governor has been to most, if not all, of Trump’s recent North Carolina events. The question, though, is whether a poor performance by Robinson would drag down other members of the party’s ticket in North Carolina, including Trump.

Persons: Donald Trump, Mark Robinson –, Trump, Martin Luther King Jr, –, Robinson, ”, Kamala Harris, Harris, Martin Luther King, Josh Stein, Joe Biden, Karoline Leavitt, Trump’s, Biden, “ Martin Luther King, “, ‘, ” Trump, they’d, Kari Lake, Herschel Walker, Doug Mastriano, Bill Lee, Thom Tillis, Republicans “, ” Tillis, Mark Robinson, Erick Erickson, ” Erickson, Treene, Terence Burlij, Aaron Pellish Organizations: CNN, Republican, NAACP, North, NAZI, Democratic, GOP, Trump, Electoral, Sun, White, Carolina, Republicans, North Carolina governor’s, Tennessee Gov, Republican Governors Association, NC Locations: North Carolina, Arizona, Georgia, Nevada, Wilmington, Asheville, Asheboro, Greensboro, Pennsylvania, Walker, Lake

☆ More men in their prime working years are neither working nor looking for jobs — here's why
▼ + stars: | 2024-09-21 | by ( Juhohn Lee | ) www.cnbc.com time to read: +1 min

Men have been steadily dropping out of the workforce, especially men ages 25 to 54, who are considered to be in their prime working years. According to the U.S. Bureau of Labor Statistics, the unemployment rate for prime-age working men was 3.4% in August 2024. But about 10.5% of men in their prime working years, or roughly 6.8 million men nationwide, are neither working nor looking for employment, compared with just 2.5% in 1954. A study by the Pew Research Center found that men who are not college-educated leave the workforce at higher rates than men who are. Watch the video above to find out why men are increasingly leaving the workforce.

Persons: Nicholas Eberstadt, Jeff Strohl, Carol Graham, you've Organizations: U.S . Bureau of Labor Statistics, American Enterprise Institute . Education, Center, Education, Workforce, Georgetown University, Pew Research Center, Brookings Institution

☆ Shirtless caddies, a karaoke machine and Barack Obama: Team USA’s keys to Solheim Cup glory
▼ + stars: | 2024-09-21 | by ( Patrick Snell | Jack Bantock | ) edition.cnn.com time to read: +5 min

1 guided her squad to a cathartic triumph in Gainesville, Virginia last Sunday, the host winning 15½ - 12½ over Europe at Robert Trent Jones Golf Club to end a seven-year wait to hoist the Solheim Cup. They saw how much it means to me.”Lewis and her daughter pose with the trophy. Squad chemistry grew even more courtesy of the most illustrious of cheerleaders, former President Barack Obama. “You could tell that he had watched a little bit before and that was definitely a special day for us.”Team USA celebrate triumph. 1 Korda, the host held its nerve to claim the trophy, which quickly became a de facto goblet for champagne.

Persons: CNN — Stacy Lewis, dozing, Team USA’s, rumination, “, ” Lewis, CNN’s Patrick Snell, Lewis, Robert Trent Jones, Lilia Vu, Chesnee, “ They’d, Gregory Shamus, Sarah Schmelzel, Lauren Coughlin, Alison Lee – Lewis, Barack Obama, Obama, Jack Fulghum, Taylor Takada, sheepishly, –, ”, ‘, Scott Taetsch, Nelly Korda, Charley Hull, Korda Organizations: CNN, Team, Robert Trent Jones Golf, Solheim, USA, ”, Walmart Locations: Spain, Europe, American, Gainesville , Virginia, Virginia, Washington , DC, Arkansas, Netherlands

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

☆ Trailblazing Black trans singer Jackie Shane finally gets her due in Tennessee
▼ + stars: | 2024-09-20 | by ( Dan Allen | ) www.nbcnews.com time to read: +9 min

Hers is the most unconventional of success stories, but Jackie Shane wouldn’t have had it any other way. The memorial is especially significant for its setting in the capital of Tennessee, where trans rights have recently been targeted. A gifted young Nashville soul singer who saw too few opportunities for herself as a Black trans performer in the Jim Crow South of the late 1950s, Shane joined a traveling carnival. Jefferson Street in North Nashville on March 19. Flash forward to the 2010s, when a series of Canadian music connoisseurs rediscovered Shane and resurrected her career in absentia.

Persons: Jackie Shane wouldn’t, ”, Sarah Calise, Crys Matthews, Nashville Mayor Freddie O’Connell, Olivia Hill, ” Calise, Jackie Shane, Jim Crow, Shane, Seth Herald, William Bell’s “, “ Jackie, Lorenzo Washington, “, ” Shane, Jackie Shane Story, Michael Mabbott, Lucah Rosenberg, Lee, Elliot Page, ” Mabbott, could’ve, Mabbott, Jeff Goode, Jackie, Jason Kempin, ’, Museum Services Michael Gray, Washington, ’ ” Organizations: Nashville, Historical Commission, Nashville Mayor, NBC News, Getty, Jefferson Street Sound Museum, North Nashville . Washington, Toronto, Toronto Star, North Star, PageBoy Productions, Country Music Hall of Fame, Music Hall of Fame, Music, Museum Services, NBC Locations: Tennessee, city’s, Jefferson, North Nashville, Nashville, Black, AFP, Canada, Toronto, Los Angeles, North Nashville .

Israeli soldiers can be seen throwing apparently lifeless bodies from a rooftop during a raid in the occupied West Bank, videos geolocated by NBC News show — an incident the Israeli military said Friday was under review and did not align with its values. The videos first emerged on social media Thursday and show Israeli soldiers on a rooftop near the town of Qabatiya, west of Jenin, in the north of the West Bank. Another video showing more of the incident from a different angle shows three men throwing three bodies from the rooftop, one by one. Israeli soliders kick the body of a man on the roof of a building in Qabatiyah in the occupied West Bank. Palestinian health officials said earlier this month that nearly 700 Palestinians have died in the West Bank since the Oct. 7 attacks, which Israeli officials said killed 1,200 people and saw some 250 taken hostage.

Persons: It’s, Qabatiya, Israel, Kamal Abu Organizations: West Bank, NBC News, NBC, AFPTV, Getty, Associated Press, Israel Defense Forces, IDF, Reuters Locations: Qabatiya, Jenin, Qabatiyah, AFP, Geneva, Gaza, Israel, Israel’s

Meanwhile, Morgan Stanley downgraded PepsiCo to equal weight. 7 a.m.: FedEx could slide more than 30% as 'structural challenges' are here to stay, Morgan Stanley says Morgan Stanley analyst Ravi Shanker downgraded FedEx to underweight from equal weight after the shipping company's earnings came in below expectations. — Pia Singh 6:33 a.m.: E-commerce stock MercadoLibre has more than 18% upside, according to Morgan Stanley Morgan Stanley is bullish on Argentine e-commerce firm MercadoLibre . — Pia Singh 5:49 a.m.: Evercore ISI hikes Amazon price target Evercore ISI is betting big on Amazon's streaming service. — Pia Singh 5:49 a.m.: Morgan Stanley downgrades PepsiCo Don't expect PepsiCo shares to make much headway going forward, according to Morgan Stanley.

Persons: Morgan Stanley, Ravi Shanker, Shanker, — Pia Singh, Morgan Stanley Morgan Stanley, Andrew Ruben, Ruben, Morgan Stanley downgrades ASML, ASML, Lee Simpson, Simpson, Mark Mahaney, Mahaney, Andy Jassy, Dara Mohsenian, OSG, Mohsenian, Fred Imbert Organizations: CNBC, ISI, PepsiCo, FedEx, Semiconductor, Intel, NBA, Amazon Prime, Amazon, Pepsi Locations: FedEx's, Argentine, Argentina, Netherlands, China, Thursday's

☆ Kamala Harris is a gun owner. Here is what we know
▼ + stars: | 2024-09-20 | by ( Mj Lee | ) edition.cnn.com time to read: +6 min

“I am a gun owner, and I own a gun for probably the reason a lot of people do – for personal safety,” Harris, then a California senator, told reporters in Iowa. Harris’ office declined to share what year she first became a gun owner or any other details about the firearm and her ownership of it. But she did not run from her values on assault rifles and assault weapons,” the adviser said. Trump, Harris’ Republican opponent, is also a self-proclaimed gun owner. Walz, the Minnesota governor and Harris’ running mate, is also a gun owner.

Persons: CNN — Kamala Harris, Donald Trump’s, Harris “, “ Tim Walz, We’re, Harris, Oprah Winfrey, they’re, ” Harris, “, ”, don’t, Harris ’, –, Tim Walz’s, Frankie Vanloock’s, Francisco Ortiz, Frank Green, Dr, Jose Rosas, Trump, Walz, Ohio Sen, JD Vance Organizations: CNN, Democratic, Naval Observatory, Trump, Republican, New York City Police Department, Philadelphia TV Locations: Michigan, Los Angeles, Washington, California, Iowa, Alameda County, New York, Minnesota

☆ 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

☆ Watch Friday's full episode of Fast Money — September 20, 2024
▼ + 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 Friday's full episode of Fast Money — September 20, 2024"Fast Money" is America's post-market show. Hosted by Melissa Lee and a roundtable of top traders, "Fast Money" breaks through the noise of the day, to bring you the actionable news that matters most to investors.

Persons: Melissa Lee

☆ Stocks making the biggest moves premarket: FedEx, Chewy, Trump Media and more
▼ + stars: | 2024-09-20 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Lennar — The homebuilding stock slipped 3% despite beating analysts' expectations for its fiscal third quarter. Trump Media & Technology Group — Shares traded nearly 5% lower as selling restrictions on former President Donald Trump and other early investors ended. PepsiCo — The snacks and beverage stock slipped 1% following a downgrade at Morgan Stanley to equal weight from overweight. ASML — Shares slipped 2% after Morgan Stanley downgraded the semiconductor manufacturer to equal weight from overweight. Aptiv — Shares of the automobile technology supplier rose more than 1% after an upgrade to overweight from equal weight at Wells Fargo.

Persons: John Donahue, Elliott Hill, Lennar, LSEG, Donald Trump, MillerKnoll, Tesla, Morgan Stanley, Lee Simpson, Piper Sandler, Chewy, Buddy Chester, CNBC's Michelle Fox, Sarah Min, Jesse Pound, Samantha Subin Organizations: Nike —, FedEx —, Trump Media & Technology, —, Constellation Energy, Microsoft, — Auto, Mercedes, General Motors, PepsiCo, Contessa Pharmaceuticals, Valero Energy Locations: China, Wells Fargo

☆ Nike's new CEO was an intern at the brand in 1988. He's now in charge of saving one of the biggest sports apparel legacies in the world.
▼ + stars: | 2024-09-20 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +5 min

Read previewNike's incoming CEO is an old face in the company, having worked his way up the ranks from intern to C-Suite exec. He's set to take over Nike's outgoing CEO, John Donahoe, who has led the company since 2020. This story is available exclusively to Business Insider subscribers. According to Hill's biography, which Nike shared with BI, he started in the company as an apparel sales representative intern in 1988. AdvertisementNike representatives did not respond to a request for comment from Business Insider sent outside business hours.

Persons: —, Elliott Hill, He's, John Donahoe, Hill's, Hill, I'm, I've, Tom Peddie, Peddie, Locker, David Daniels, Daniels, Peter Cappelli, Cappelli, Elliot Hill, he's, Justin Sullivan, Jim Duffy, BI's Lloyd Lee, Duffy, they've, Ursula Burns, Burns Organizations: Service, Business, Nike, BI, NIKE, — Consumer, National University of Singapore, Wharton School, University of Pennsylvania, Stifel, Xerox, Columbia University, Business Insider

☆ Nike's new CEO can't rest on retro styles and must innovate to turn the company around, analyst says
▼ + stars: | 2024-09-20 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +1 min

Nike is naming Elliott Hill, a company veteran of more than 30 years, as its new CEO. In the past few years, Nike relied too much on recycling old styles, an analyst told BI. Go to newsletter preferences Thanks for signing up! The company announced on Thursday that its CEO of four years, John Donahoe, will retire and be replaced by Elliott Hill, a company veteran of more than 30 years. Hill joined the company as an intern in 1988 and left in 2020 as the president of Nike's consumer and marketplace division.

Persons: Elliott Hill, —, John Donahoe, Hill Organizations: Nike, Service, Business

☆ This is how gross it is, this is how extreme it is’: Director Coralie Fargeat on the pursuit of female beauty
▼ + stars: | 2024-09-20 | by ( Ken Olshansky | Chelsea Lee | ) edition.cnn.com time to read: 1 min

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☆ With a big interest rate cut in the books, Tom Lee says the 'Fed put' is back in play
▼ + stars: | 2024-09-20 | by ( ) www.cnbc.com time to read: +2 min

The Federal Reserve's big interest rate cut this week has reintroduced the notion of the " Fed put " into the stock market, longtime bull Tom Lee said. That means, the Fed's mandate is now primarily supporting a strong labor market," Lee wrote to clients Friday. Broadly speaking, the "put" refers to the desire of the Fed to loosen financial conditions, which in turn supports risk assets like stocks. In particular, he cited "an important lifeline" to three sectors that Lee said actually are in a recession: durable goods, auto sales and housing. This is a long winded way of saying the Fed is not 'pushing on a string ,'" Lee wrote.

Persons: Tom Lee, Lee Organizations: Federal, Fundstrat Global Advisors, Fed

☆ Lebanon reels from second day of explosions and Sean 'Diddy' Combs denied bail: Morning Rundown
▼ + stars: | 2024-09-19 | by ( Elizabeth Robinson | Elizabeth Robinson Is A Newsletter Editor For Nbc News | Based In Los Angeles. | ) www.nbcnews.com time to read: +8 min

Sean “Diddy” Combs remains jailed after his bond appeal was rejected, in part because of witness intimidation allegations. Israel declares a ‘’new phase’’ of war as Lebanon reels from a second day of deadly device explosions. Sean ‘Diddy’ Combs loses second bail requestSean "Diddy" Combs was denied bail for a second time this week in his sex trafficking and racketeering case, leaving the rapper-turned-mogul to remain at a New York jail his legal team called "horrific" until the start of his trial. According to prosecutors, Combs allegedly called or texted Kalenna Harper, one of his protégées, 58 times in four days. More coverage of Sean ‘Diddy’ Combs’ case:Among the next questions Combs’ legal team could raise is whether he can be transferred to another facility.

Persons: Sean “ Diddy ” Combs, Israel, Sean ‘ Diddy ’ Combs, Sean, Diddy, Combs, Kalenna Harper, protégée, Harper, Andrew Carter, Carter, He’s, “, pagers, Hassan Nasrallah, pagers —, Mike Johnson, hasn’t, Kamala Harris, Donald Trump, Trump, Sen, Lindsey Graham, Suni Lee, Jordan Chiles, Jade Carey, ”, Ariana Grande, Michael Keaton, Jean Smart, Harvey Weinstein, Elon Musk’s, Jean Catuffe, Elon Musk, Musk, — David Ingram, Elizabeth Robinson Organizations: U.S, District, Metropolitan Detention, MDC, Israel, Commonwealth Fund, Republicans, Teamsters, Howard University, Electoral, Reserve, NCAA, Elon, Tenet Media, NBC Locations: Lebanon, New York, Brooklyn, Japan, Iran, Gaza, Israel, Here’s, U.S, Canada, France, Germany, United Kingdom, Springfield, Ohio, “, Kentucky, Russian, Russia, Ukraine

With no guarantee she would make the Olympic team, Wieber opted to go pro. The gymnastics performed by the U.S. national team at world championships and the Olympics is called elite gymnastics, which is considerably more difficult than college gymnastics. "What a cool thing for the sport of gymnastics," Wieber said. Leanne Wong on floor on Day 2 of the 2024 U.S. Olympic Team Gymnastics Trials on June 28 in Minneapolis. While many athletes like Wong have benefited from NIL, college coaches nationwide have had to reconstruct their programs to accommodate its inevitable challenges.

Persons: Jordyn Wieber, Wieber, Alexandra Raisman, Jordyn, McKayla Maroney, Kyla Ross, Ronald Martinez, Suni Lee, Jordan Chiles, Jade Carey, Chiles, Carey, It's, Jamie Squire, Samantha Peszek, ” Peszek, they’re, Wieber's, Ross, Stew Milne, ” Ross, Leanne Wong, Wong, Karen Hickey Organizations: Olympic, University of Arkansas, U.S ., Paris Olympics, Team USA, NBC Sports, U.S . Olympic, NCAA, Arkansas, Auburn, Neville Arena, Jan, Getty, University of Florida's Locations: United, London, Tokyo, Paris, Arkansas, Auburn, Ala, Minneapolis

☆ Ray Dalio says the Fed faces a tough balancing act as the economy faces 'enormous amount of debt'
▼ + stars: | 2024-09-19 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +3 min

Ray Dalio, Bridgewater Associates co-chairman and co-chief investment officer, speaks during the Skybridge Capital SALT New York 2021 conference. Brendan McDermid | ReutersAs the U.S. Federal Reserve implemented its first interest rate cut since the early Covid pandemic, billionaire investor Ray Dalio flagged that the U.S. economy still faces an "enormous amount of debt." The central bank's decision to cut the federal funds rate by 50 basis points to a range of 4.75% to 5%. On Wednesday, Dalio listed debt, money and the economic cycle as one of the top five forces influencing the global economy. The country's central bank only recently lifted interest rates in March this year.

Persons: Ray Dalio, Brendan McDermid, CNBC's, Dalio, Donald Trump, Kamala Harris Organizations: Bridgewater Associates, Reuters, U.S . Federal Reserve, Federal, U.S . Treasury Department Locations: U.S, Japan

☆ UBS: China will benefit less from the Fed's rate cut than other APAC markets
▼ + stars: | 2024-09-19 | 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 EmailUBS: China will benefit less from the Fed's rate cut than other APAC marketsEva Lee, head of Greater China equities at UBS, explains why she thinks China will not benefit much from the Federal Reserve's interest rate cut, and why it may also make it easier for the PBOC to move on its policy.

Persons: Eva Lee Organizations: UBS Locations: China

☆ Hong Kong central bank cuts interest rate, tracks Fed move
▼ + stars: | 2024-09-19 | by ( ) www.cnbc.com time to read: +1 min

People wearing face masks walk by the Hong Kong Monetary Authority on March 4, 2020 in Hong Kong. HKMA said the U.S. interest rate cut will have a positive impact on the economy of the Asia financial center and will provide some room for easing of local interest rates. "In Hong Kong, our financial and monetary markets have continued to operate in a smooth and orderly manner. "The rate cut cycle has just begun, interest rates will remain at relatively high level in the foreseeble future. The public should carefully assess and continue to manage the interest rate risk when making property purchase, mortgage or other lending decisions," Lee added.

Persons: HKMA, Howard Lee, Lee Organizations: Hong Kong Monetary Authority, Hong, HK, U.S ., U.S . Federal Reserve, Hong Kong Locations: Hong Kong, United States, U.S, Asia

☆ Market bull Tom Lee hesitant to jump into this post-Fed rally
▼ + stars: | 2024-09-19 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +1 min

Tom Lee is not sold on the stock market's rally after the Federal Reserve cut interest rates. The S & P 500 and Dow Jones Industrial Average popped to fresh records Thursday, a day after the Fed lowered rates by a half percentage point. Many investors expected the central bank to lower rates by just a quarter percentage point. Lee was correctly bullish heading into 2024 and has nailed several bold short-term calls on the market. Despite the mixed backdrop, Lee said small-cap and cyclical stocks, such as industrials and financials, stand to benefit from lower rates.

Persons: Tom Lee, Lee, CNBC's Organizations: Federal Reserve, Dow Jones, Fundstrat Global Advisors, U.S

☆ ‘Hidden Figures’ of the space race receive Congress’ highest honor at medal ceremony
▼ + stars: | 2024-09-19 | by ( Associated Press | ) edition.cnn.com time to read: +1 min

AP —The hidden figures of the space race were recognized with Congress’ highest honor at a medal ceremony on Wednesday. The Congressional Gold Medal was presented to the families of Katherine Johnson, Dorothy Vaughan, Mary Jackson and Christine Darden at the US Capitol. The Black women hired worked in a segregated unit of female mathematicians at what is now NASA’s Langley Research Center in Virginia. She was awarded the Presidential Medal of Freedom in 2015 – the nation’s highest civilian honor. Vaughan rose to become NASA’s first Black supervisor and Jackson was NASA’s first Black female engineer.

Persons: Katherine Johnson, Dorothy Vaughan, Mary Jackson, Christine Darden, ”, Margot Lee Shetterly, Hakeem Jeffries, Mike Johnson, Wanda Jackson, Andrew Harnik, NASA –, John Glenn, Vaughan, NASA’s, Jackson, Darden Organizations: Capitol, Darden, Advisory Committee, Aeronautics –, NASA, Langley Research Locations: Connecticut, U.S, Langley, Virginia

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