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Anna Moneymaker | Getty Images News | Getty ImagesThis 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. By contrast, the prevailing sentiment among experts was that a 25-point cut was more likely, according to a CNBC survey. And he was likely aware that a bigger-than-usual cut might connote that the Fed's worried about the economy. "I don't see anything in the economy right now that suggests that the likelihood of a recession, sorry, of a downturn, is elevated," Powell said.
Persons: Jerome Powell, William McChesney Martin Jr, Anna Moneymaker, Jerome Powell's, Powell, Jeff Cox, Yun Li, Hakyung Kim, Samantha Subin Organizations: Federal, Federal Reserve, Getty, CNBC, Dow Jones, Nasdaq Locations: Washington , DC
Thasunda Brown Duckett has an urgent piece of career advice for anyone who doesn't love their job: Don't run from the challenge. "Be OK with hard," Duckett, president and CEO of insurance giant TIAA, recently told LinkedIn's "This Is Working" podcast. "Make sure along your career, especially early on, you sit in hard, meaning, 'I may not have a manager that's amazing. Career coach Joyce Guan West agrees: Challenge yourself, but don't endure work environments that cause you emotional harm. If you want to get ahead in your career, West says cultivating professional relationships and skill building can help fast-track you.
Persons: Thasunda Brown Duckett, Duckett, LinkedIn's, TIAA, Joyce Guan West Organizations: CNBC
Lebanon's leadership warned that the risk of further violence and escalation is extremely high following two days of attacks involving exploding communications devices across the country. The next 48 hours, ministers told CNBC Thursday, will be particularly dangerous. Hezbollah called the act an "Israeli aggression"; Israel, meanwhile, has not commented on the blasts. "This will be a really, very, very dangerous ... 48 hours that this country will witness to see how the reaction will be." Tens of thousands of people on both the Lebanese and Israeli sides of the border have been evacuated from their homes.
Persons: Mojtaba Amani, Amin Salam, CNBC's Dan Murphy Organizations: CNBC, Hezbollah, Palestinian, Hamas, Lebanese Locations: Iran, Lebanese, Israel, Lebanon, Gaza
"You need to know that a rate cut is never bad for stocks, as long as it's telegraphed," he said. "A large rate cut, as long as it's communicated to the media with plenty of time in a considered way, is also acceptable." Investors were anticipating interest rate cuts for some time, with most convinced the Federal Reserve would issue a September cut, but unsure whether it would be by 25 or 50 basis points. By Thursday's close, Wall Street seemed more confident about the cut. Cramer added that a double rate cut means even more cash will flow in from the sidelines.
Persons: CNBC's Jim Cramer, Thursday's, Cramer, you'll Organizations: Federal Reserve, Dow Jones Industrial, Nasdaq, Fed, Big Tech Locations: homebuilding, cyclicals
For the first time in its century-plus history, the Anti-Defamation League is suing a Fortune 500 company, Intel , joining a case brought by the law firm of Wigdor on behalf of a former Israeli employee of the technology firm. Intel has operated in Israel for 50 years, where it has invested more than $50 billion, and remains one of Israel's largest private employers with more than 11,700 Israeli employees. The company estimated $8.7 billion in exports from its Intel operations, accounting for 5.5% of Israel's high-tech exports and 1.75% of the country's GDP, in 2022. When employers do not meet their legal obligations in protecting their Jewish employees, ADL will not hesitate to act." The former Israeli employee also recently sent an open letter to Intel's board of directors about his complaint.
Persons: wasn't, Jonathan Greenblatt, Greenblatt, Google, we've Organizations: Defamation League, Fortune, Intel, ADL, CNBC, Google Locations: Wigdor, Israel, U.S, boardrooms, Gaza
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch Thursday's full episode of the Halftime Report — September 19, 2024"Fast Money Halftime Report" is on the front lines of CNBC's market coverage. Host CNBC's Scott Wapner and the Street's top investors get to the heart of the action as it's happening and help set the agenda for the rest of the day. Watch today's full episode on CNBC PRO.
Persons: CNBC's Scott Wapner Organizations: CNBC PRO
Disney to ditch Slack following July data breach
  + stars: | 2024-09-19 | by ( Sarah Whitten | ) www.cnbc.com   time to read: +1 min
The Mickey Mouse and Minnie Mouse float passes by during the daily Festival of Fantasy Parade at the Magic Kingdom Park at Walt Disney World on May 31, 2024, in Orlando, Florida. The Walt Disney Company will no longer use Slack for in-house company communication months after a hack that involved more than a terabyte of company data being leaked to the public. Representatives from Disney and Salesforce, the owner of Slack, did not immediately respond to CNBC's request for comment. "Companies also have to take the right measure to prevent phishing attacks and to lockdown their employees' social engineering," he added. Benioff noted that Disney continues to use Salesforce products in other aspects of its business including its Disney store, Disney guides, sales and service operations and its call centers.
Persons: Mickey Mouse, Mouse, Hugh Johnston, Slack, Marc Benioff, Benioff, Disney Organizations: Magic, Walt Disney World, Walt Disney Company, Disney, CNBC, Bloomberg Locations: Orlando , Florida
Last week, UniCredit announced it had taken a 9% stake in Commerzbank, confirming that half of this shareholding was acquired from the government. Commerzbank shares jumped 20% on the day UniCredit's stake was announced. A cross-border styled merger between UniCredit and Commerzbank would be more preferential than a domestic merger between Deutsche Bank and Commerzbank, according to Reint Gropp, president of the Hall Institute for Economic Research. "The German banking structure is long overdue for a consolidation process. The German bank also has less excess capital than UniCredit and therefore "cannot really afford" a takeover, Alloatti said.
Persons: Kirill Kudryavtsev, UniCredit, Andrea Orcel, Commerzbank, Orcel, Ignacio Cerezo, Berenberg, David Benamou, Benamou, CNBC's, Arnaud Journois, Journois, Emmanuel Macron, Reint Gropp, Gropp, Filippo Alloatti, Hermes, Alloatti, We've Organizations: Afp, Getty, Bloomberg, Reuters, UniCredit, Wednesday, UBS, Investments, European, Morningstar, Commerzbank, Analysts, CNBC, Deutsche Bank, Hall Institute for Economic Research, Will Deutsche Bank, ABN Amro Locations: Frankfurt, Germany, Commerzbank, Berlin, Italian, U.S, Europe, UniCredit, Italy
This report is from this week's CNBC's "Inside India" newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big businesses behind its meteoric rise. Its intent was clear: to develop India's manufacturing capabilities in sectors like automotives, electronics, pharmaceuticals and aerospace while creating opportunities for locals. India's manufacturing sector has seen "remarkable" growth says, Samir Kapadia, founder and CEO of B2B marketplace India Index. "These infrastructural shifts in India have improved connectivity within and outside the country putting India at a very different playing field than it was 10 years ago when 'Make in India' started," Kapadia told CNBC's Inside India. India vs. other emerging marketsWhile India looks to poach China's manufacturing share, other countries like Indonesia, Vietnam, Bangladesh and Mexico are also stiff competitors.
Persons: Wistron, Narendra Modi, Foxconn, Samir Kapadia, Kapadia, CNBC's, U.S . Franklin Templeton's Yi Ping Liao, Liao, Deveshwar Organizations: Tata Group, Indian, Apple, Dixon Technologies, Kia, Divi's, Novartis, GSK, Merck, China, U.S ., TS Lombard, Inside, Mutual Fund Locations: India, China, Silicon Valley, Bengaluru, Kolar, Doddaballapura, Foxconn, Kia India, Anantapur —, Indonesia, Vietnam, Bangladesh, Mexico, Asia, Inside India, Brazil
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAmerican Bankers Association opposes Trump's credit card interest rate cap proposalCNBC's Eamon Javers reports on news from former President Donald Trump.
Persons: Eamon Javers, Donald Trump Organizations: American, Association
"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
In his experience, his best employees have different qualities and skills than he does, says the billionaire founder of Kind Snacks. "You want to be careful not to hire the same person you are," Lubetzky, 56, tells CNBC Make It. Humans are more inclined to collaborate with, befriend and even form romantic relationships with people who have similar interests, education, skills and values. Lubetzky learned the value of working with people who have opposing viewpoints at his first company, PeaceWorks, he says. There is one quality that bosses and employees should always share, Lubetzky says: values.
Persons: Daniel Lubetzky isn't, that's, Lubetzky —, Mark Cuban's, , Lubetzky, everyone's Organizations: CNBC Locations: Qualtrics
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDividend-paying stocks are more compelling after rate cut, says T. Rowe Price CIO John LinehanJohn Linehan, T. Rowe Price chief investment officer of equity, joins CNBC's 'Squawk on the Street' to discuss how the economy is responding to the Fed's rate cut, stocks he is keeping an eye on, and more.
Persons: Rowe Price, John Linehan John Linehan
How rate cuts will impact consumer staples
  + stars: | 2024-09-19 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow rate cuts will impact consumer staplesBryan Spillane, Bank of America Securities managing director equity research, joins CNBC's 'The Exchange' to discuss how this week's rate cut will impact staple stocks, consumer spending, and more.
Persons: Bryan Spillane Organizations: Bank of America Securities
Trade Tracker: Kevin Simpson buys more Freeport-McMoran
  + 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 EmailTrade Tracker: Kevin Simpson buys more Freeport-McMoranKevin Simpson, Capital Wealth Planning founder and CIO, joins CNBC's "Halftime Report" to explain why he's buying more of the heavy metals miner.
Persons: Kevin Simpson Organizations: Wealth Planning Locations: Freeport
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIncrease in consumer holiday spending expected this year, says Mastercard's Michelle MayerMichelle Mayer, Mastercard Economics Institute U.S. chief economist, joins CNBC's 'Money Movers' to discuss the state of the consumer, how to read auto delinquencies, and more.
Persons: Mastercard's Michelle Mayer Michelle Mayer Organizations: Mastercard Economics Institute U.S
Fed's rate cut sparks rally in chip stocks
  + stars: | 2024-09-19 | by ( Seema Mody | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed's rate cut sparks rally in chip stocksCNBC's Seema Mody reports on the latest rally in chip stocks.
Persons: Seema Mody
CNBC TechCheck Evening Edition: September 19, 2024
  + 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 EmailCNBC TechCheck Evening Edition: September 19, 2024CNBC's TechCheck brings you the latest in tech news from CNBC's 1 Market in the heart of San Francisco.
Persons: TechCheck Organizations: CNBC Locations: San Francisco
They received some relief on Wednesday when the Federal Reserve cut interest rates by 50 basis points, which will lower mortgage costs. Federal Reserve chair Jerome Powell said the "real issue" behind high prices in the U.S. housing market is a lack of supply, which isn't "something the Fed can really fix." With rates dropping, Powell also said that "more people are likely to start moving," which could boost home sales. Powell also said that shelter costs in the CPI tend to lag behind real-time prices, so the recent slowdown in home and rent prices prices isn't fully reflected yet. The best thing the Fed can do for U.S. households is get "inflation broadly down" and reduce the cost of borrowing by "normalizing" interest rates, Powell said.
Persons: Jerome Powell, There's, Powell's, Powell, it's Organizations: Federal Reserve, Federal, National Association of Realtors, Consumer, CNBC Locations: U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBehind China's push to find a domestic alternative to NvidiaHuawei is among the Chinese companies looking to create a viable alternative to Nvidia's semiconductors for artificial intelligence. CNBC's Arjun Kharpal runs through some of the key players in China and the mounting challenges they face.
Persons: CNBC's Arjun Kharpal Organizations: Nvidia Huawei Locations: China
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
Nvidia CEO Jensen Huang presents the Nvidia Blackwell platform at an event ahead of the COMPUTEX Forum, in Taipei, Taiwan, on June 2, 2024. Led by a 7.4% gain in shares of Tesla and a 4% jump in Nvidia , the Nasdaq rose 2.5% on Thursday, its fourth-sharpest rally of 2024. Nvidia, whose processors are powering the generative AI boom and services like OpenAI's ChatGPT, gained 4% on Thursday to $117.87. Su said AI is going to make its way into "all aspects of our lives," including education and drug development. Among the other top tech companies, Apple and Meta also closed with big gains, each rising almost 4%.
Persons: Jensen Huang, Nvidia Blackwell, it's, they're, Lisa Su, Jim Cramer, Su, Tesla Organizations: Nvidia, COMPUTEX, Investors, Federal Reserve, Tesla, Nasdaq, Federal, Market, Microsoft, Oracle, Devices, Broadcom, AMD, Apple, Meta Locations: Taipei, Taiwan
23andMe faces Nasdaq delisting
  + stars: | 2024-09-19 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email23andMe faces Nasdaq delistingCNBC's Deidre Bosa joins 'Money Movers' to discuss the latest updates on 23andMe's, following the exodus of several independent board members.
Persons: Bosa
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Grid is crucial' and the U.S., UK are pushing us to invest more, Iberdrola chairman saysIgnacio Galán, the chairman of Iberdrola, emphasises the importance of investment in the grid in an exclusive interview with CNBC's Charlotte Reed.
Persons: Ignacio Galán, CNBC's Charlotte Reed Locations: U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIncrease in consumer holiday spending expected this year, says Mastercard's Michelle MeyerMichelle Meyer, Mastercard Economics Institute U.S. chief economist, joins CNBC's 'Money Movers' to discuss the state of the consumer, how to read auto delinquencies, and more.
Persons: Mastercard's Michelle Meyer Michelle Meyer Organizations: Mastercard Economics Institute U.S
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