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☆ Investment banking has made a multibillion-dollar rebound, but it's too early to pop the Champagne
▼ + stars: | 2024-10-18 | by ( Hayley Cuccinello | Emmalyse Brownstein | ) www.businessinsider.com time to read: +7 min

Major banks like Goldman Sachs walloped Wall Street expectations thanks to dealmaking fees. Investment banking has made a comeback, and bigger bonuses are in the cards, too. The biggest banks on Wall Street reported a huge boost in dealmaking fees this quarter after a two-year slump. Investment bank revenue surged 30% on average at Goldman Sachs, JPMorgan, Bank of America, Citigroup, and Morgan Stanley, according to Wells Fargo analyst Mike Mayo. Morgan Stanley's investment bank revenue surged 56% year over year to $1.46 billion, beating Wall Street expectations.

Persons: Goldman Sachs, —, Morgan Stanley, Wells, Mike Mayo, Sharon Yeshaya, Morgan, Global's Nathan Stovall, corporates, Stovall, David Ellison's Skydance, JPMorgan's Jamie Dimon, David Solomon, Mayo, Cole Smead, There's, Jon Gray, anecdotally, Gray, David Stowell, Stowell, I'm, it's, Alan Johnson Organizations: Investment, Service, Wall, JPMorgan, Bank of America, Citigroup, Citi, Mars, Paramount, David Ellison's Skydance Media, Wall Street, Smead Capital Management, Blackstone, Kellogg School of Management, Northwestern University, underwriters, Johnson Associates Locations: Wells Fargo, Mayo

☆ Port of Los Angeles freight rail delays reach two-year high, with holiday and everyday items piling up
▼ + stars: | 2024-10-18 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +4 min

Almost half of the containers bound by freight rail out of the Port of Los Angeles are waiting nine-plus days to get out of the port and onto the rail. In September, the Port of Los Angeles moved a total of 954,706 twenty-foot equivalent units making the month its best September ever. "This is not impacting port operations," said Seroka. "We want to make sure we improve on all port operations. In September, the Port of Long Beach moved 829,499 twenty-foot equivalent units.

Persons: Mario Tama, Gene Seroka, Seroka, Donald Trump, Mario Cordero, Cordero, Matt Shay Organizations: Union Pacific Intermodal, Getty, San, Port, CNBC, U.S, Republican, National Retail Federation, Target, Walmart Locations: Los Angeles , California, West, of Los Angeles, San Pedro, LA, Long, Port of Long Beach, of Long, lading, Port of Los Angeles

☆ California's economic growth is slipping behind Texas as the Lone Star state draws corporate HQs and people
▼ + stars: | 2024-10-17 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +6 min

Texas' economy is growing faster than California's as it woos big companies and new residents. But some Texas residents are feeling increasingly fed up and priced out of the state. That figure is even stronger for the fourth quarter of 2023, which saw Texas' GDP grow at an annual rate of 5% — a jump that Texas Gov. Its $3.9 trillion GDP accounts for 14% of the national GDP, according to the report. Some Texas residents are less happyAs Texas' economy soars, some residents are feeling increasingly fed up and priced out.

Persons: —, Greg Abbott, California's, Tesla, Charles Schwab, Abbott, Elon Musk, CBRE, Jennifer Sor, Austin Organizations: Service, Lone Star, Public, Institute of California, Public Policy Institute, Texas Gov, Bureau, Oracle, State for, Chevron, Gov, Fortune, Texas, Nvidia, Golden State, Bureau of Labor Statistics, Texas realtors, BI Locations: Texas, While California, California, , Texas, State for Texas, Palo Alto , California, Austin, Dallas, Fort Worth, Arlington

The Summary Forecasts for hurricanes Helene and Milton were highly accurate. Nearly five days before Hurricane Milton hit Florida, National Hurricane Center forecasters predicted its track within just 12 miles of where the storm later made landfall. And yet, at a time when hurricane forecasts are at their most accurate, some meteorologists say they’ve never faced so much skepticism, hatred and conspiracy-minded pushback. They take it personally.”Hurricane forecasts have become more accurateHurricane forecasts have improved dramatically over the past 50 years. The National Hurricane Center publishes data each year about how its forecasts have aligned with reality, and the trend shows a decline in track errors since the 1970s.

Persons: Helene, Milton, ”, John Morales, they’ve, They’ve, “, there’s, Matthew Cappucci, ” Cappucci, Cappucci, Bill Gates, Bradley Panovich, “ It’s, Kim Klockow McClain, Shel Winkley, ” Winkley, Hurricane Milton “ Organizations: Hurricane Milton, National Hurricane Center, National Weather Service, NBC, MyRadar, Washington Post, Harvard, Climate, NOAA Locations: Florida, North Carolina, Appalachia, Louisiana, Charlotte , North Carolina, Hurricane

☆ MLB playoff viewership surges as big market stars vie for World Series
▼ + stars: | 2024-10-16 | by ( Jake Piazza | ) www.nbcnews.com time to read: +3 min

The first game of the American League Championship Series on Monday night between the New York Yankees and Cleveland Guardians saw an uptick of 4% from 2023, grossing 3.9 million viewers, according to a TNT Sports spokesperson. The championship series gains come right after four successful league division series for MLB and its broadcast partners. The American League Division Series averaged 3 million viewers, a more than 20% increase from 2023, according to TNT Sports. Viewership for the National League Division Series rose too, with game four in each series climbing from 2022. The Yankees have a 2-0 game lead against the Guardians, and the Mets-Dodgers series is tied at 1-1.

Persons: Rob Manfred, Ohtani, Aaron Judge, ” Eldridge, Todd Boehly, CNBC’s Scott Wapner, ”, Jose Ramirez Organizations: League, National League, New York Mets, Los Angeles Dodgers, Fox Sports ’, Fox Sports, American League, New York Yankees, Cleveland Guardians, TNT Sports, New, NFL, MLB, Texas Rangers, Arizona Diamondbacks, “, Dodgers, Yankees, Major League Baseball, Mets, Guardians, Kansas City Royals

☆ 'October theory' explains why fall is a better time for hitting your goals than New Year's
▼ + stars: | 2024-10-16 | by ( Julia Pugachevsky | ) www.businessinsider.com time to read: +4 min

'October theory' originated on TikTok and is the belief that fall is the best time to set goals. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . For those who struggle to meet their yearly goals, the issue might just be timing. According to "October theory," a concept that originated on TikTok in 2023 and recently went viral, people feel more motivated to set and pursue goals because they realize the year is almost over. They would reflect on their year so far and help each other set 90-day goals to finish it out strong.

Persons: —, Patricia Dixon, Kiki Ramsey, Ramsey, Dixon Organizations: Service, Business, Ramsey

☆ Single Women Love to Vote. They Back Kamala Harris in the Election.
▼ + stars: | 2024-10-16 | by ( Daniel Cox | ) www.businessinsider.com time to read: +11 min

Part of the shift is demographic: Over the past few decades, the number of single women in America has skyrocketed. In 2023, there were 43 million single women living in the US, a 55% increase since 2000. Single women are older, more educated, and more financially independent than they were a generation earlier. In 2000, 48% of single women reported voting. And her support is growing: A recent Ipsos survey found Harris leading among single women voters by nearly 40 points.

Persons: Donald Trump, Sen, JD Vance, Jennifer Aniston, Taylor Swift, Kamala Harris, Lady, Swift, Benjamin Button, Meghan McCain, John McCain, he's, Joe Biden, Harris, Jesse Watters, Roe, Wade, Dobbs, Trump, —, MeToo, Biden, Tim Walz, Jake Paul Organizations: Pew Research Center, Pew, Democratic, Fox News, Survey Center, Gallup, Social Survey, Biden, Alpha Kappa Alpha Sorority, Trump Locations: Ohio, America

☆ Retail spending report could show consumers still pouring money into the economy
▼ + stars: | 2024-10-16 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Consumer spending was expected to hold strong in September, possibly even more than forecast and enough to throw another wrinkle into the Federal Reserve's thought process. "If retail sales accelerate considerably, in our view, the narrative may shift further toward 'no landing' or even re-acceleration." "Monthly retail sales data can be volatile. For now, Bhave thinks a strong sales report will "probably not … at least, not yet" hit Fed policy. At the same time the retail report drops, the Labor Department will issue its weekly reading on initial unemployment claims.

Persons: Dow Jones, Aditya Bhave, Bhave, Hurricanes Helene, Milton Organizations: Bank of America, Fed, Labor Department, Hurricanes, Boeing Locations: Michigan

☆ Underlying growth is strong enough for market to handle fewer rate cuts, strategist says
▼ + stars: | 2024-10-15 | 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 EmailUnderlying growth is strong enough for market to handle fewer rate cuts, strategist saysJoost van Leenders, a senior investment strategist at Van Lanschot Kempen, says there is an uptick in sustainable spending as income growth remains higher than consumption growth.

Persons: Joost van Leenders, Van Lanschot Kempen

☆ I'm a psychotherapist who's seeing a spike in election-related anxiety among my patients. Some of them are secretly voting for Trump.
▼ + stars: | 2024-10-15 | by ( John L. Dorman | ) www.businessinsider.com time to read: +7 min

Among his patients, he's seeing election-related anxiety tied to the race between Harris and Trump. This year, he's hearing a range of concerns from his patients regarding both Vice President Kamala Harris and former President Donald Trump. The result: These folks are overwhelmingly keeping quiet about their political beliefs and voting plans for the upcoming election and are closeted Trump supporters. For many people, their political beliefs are often tied to personal identity. AdvertisementBut by keeping political beliefs hidden, it can affect personal relationships.

Persons: Jonathan Alpert, Harris, Trump, Alpert, —, Kamala Harris, Donald Trump, Joe Biden, aren't, We're, Tayfun, didn't, Sen, John McCain, Biden — Organizations: Service, D.C, Trump, Trump voters, Getty Locations: United States, New York, Washington, , Connecticut, Maryland, Pennsylvania, Philadelphia, Erie, Anadolu

☆ Considering getting flood insurance after Milton and Helene? Here’s what to expect
▼ + stars: | 2024-10-15 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +5 min

Still, “lack of flood insurance is the largest insurance coverage gap we see across the United States,” he said. Here’s what you’re likely to encounter if you’re shopping around for flood insurance policies. Flood insurance 101Homeowners with mortgages are almost always required to have home insurance by their lenders. Most flood insurance is offered through the federally backed National Flood Insurance Program, a part of the Federal Emergency Management Agency. The NFIP estimates that more than 40% of NFIP flood insurance claims come from outside high-risk flood zones.

Persons: Helene, Mark Friedlander, ”, Rebecca Blackwell, policyholders, Melissa Sue Gerrits, Friedlander, Andy Neal, Milton, Neal, Scott Hawkins, ” Hawkins Organizations: New, New York CNN, Insurance Information Institute, CNN, Flood Insurance, Federal Emergency Management Agency, AP, FEMA Locations: New York, North Carolina, United States, Gulf, Mexico, Hurricane Milton, Englewood , Florida, Swannanoa , North Carolina

Close elections always come down to turnout. So the bipartisan polling team behind the NBC News poll, Public Opinion Strategies and Hart Research Associates, devised an experiment. What happens to the ballot test in NBC News’ brand-new national poll when you assume a turnout model that benefits the Democratic Party versus one that favors the GOP? Vice President Kamala Harris and former President Donald Trump are tied on the head-to-head ballot in the new October NBC News poll results, at 48% each. Assuming a turnout model that’s more favorable to Republicans puts Trump ahead by 2 points, 49%-47%.

Persons: Kamala Harris, Donald Trump, Harris Organizations: NBC News, Hart Research Associates, NBC, Democratic Party, Republicans, Trump, Democrats, Democratic

☆ Back-to-back Florida hurricanes signal trouble for home insurance prices nationwide
▼ + stars: | 2024-10-12 | by ( Grace Eliza Goodwin | Erin Snodgrass | ) www.businessinsider.com time to read: +9 min

Insurance experts said the back-to-back hurricanes could signal rising insurance rates nationwide. AdvertisementTwo back-to-back hurricanes in Florida in recent weeks will likely raise home insurance rates even higher in a state that is already grappling with prices nearly four times the national average, insurance experts told Business Insider. The compounding financial crises of Hurricane Helene and Hurricane Milton could also point to looming hikes in insurance rates nationwide, the home insurance experts said. They pointed to the recent Florida storms as examples of the increasingly severe and frequent climate catastrophes wreaking havoc on the global insurance market. AdvertisementAn uptick in reinsurance rates in recent years has been a driving force behind climbing insurance rates nationwide, said Kyle Ulrich, president and CEO of the Florida Association of Insurance Agents.

Persons: —, Kyle Ulrich, it's, Hurricane Helene, Hurricane Milton, Jeffrey Schlegelmilch, Oscar Miniet, Miniet, Coral, Milton, Helene, Shahid Hamid, Jeremy Porter, Porter, Hamid, Ulrich, Oscar Seikaly, Penny, Liao Organizations: Service, Florida Association of Insurance, Intercontinental Exchange, CBS News, Columbia Climate School's, Center for Disaster Preparedness, Tampa, Florida International University, Research Center's Laboratory for Insurance, Financial, Economic Research, Allstate, State, Florida Association of Insurance Agents, NSI Insurance, Hurricanes Locations: Florida, Hurricane, California, Illinois, Arkansas, Deltona, Jacksonville, Sarasota, Central Florida, Kentucky, Idaho, London, Bermuda, Japan

☆ Where you should look for a job if you can't break into consulting, according to a Harvard career advisor
▼ + stars: | 2024-10-12 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +5 min

A Harvard career advisor says there are other ways to jump-start your career beyond consulting. Related storiesThat's where dedicated early-career programs come in. AdvertisementNg said those are the exact kinds of perks that new grads can get at companies with early-career programs. Ng has compiled a list of more than 1,000 companies that have early-career programs. As for the tech companies with dedicated early-career programs, his list includes companies such as Nvidia, PayPal, Snap, Dropbox, Zoom, and Workday.

Persons: —, Gorick Ng, they're, Ng, he's, Z, Young, gunning, Grainger, He's, Goldman Sachs, Piper Sandler, it's, there's Organizations: Harvard, Service, Harvard University, Consulting, GE, Fifth Third Bank, Aon, CNBC, NBC Universal, Nvidia, PayPal, UBS, Deutsche Bank

☆ 'The choice of the people': How Modelo and Corona maker Constellation Brands won the loyalty of Hispanic consumers in the U.S.
▼ + stars: | 2024-10-12 | by ( Alex Harring | ) www.cnbc.com time to read: +6 min

Riojas is part of a base of Hispanic consumers that has become a focal point for Constellation Brands' beer business, which also includes products such as Corona and Pacífico. Hispanic- and Latino-identifying customers accounted for 32.5% of Constellation Brands' sales in 2023, according to data from consumer research firm Numerator and investment bank Jefferies. "Hispanic consumers are the single most important consumer group for our beer business," said Mallika Monteiro, executive vice president and managing director for Constellation's beer brands. The company officially acquired the U.S. beer business of Groupo Modelo, which included Modelo and Corona, from Anheuser-Busch in 2013. "Time and time again, you see that there's that strong bond that consumers form emotionally with brands," Aguirre-Rodriguez said.

Persons: Mario Tama, Rio Riojas, It's, Modelo, Bud, Mallika Monteiro, we've, Alexandra Aguirre, Rodriguez, Constellation's Monteiro, Monteiro, FIU's Aguirre, Aguirre, Kaumil Gajrawala, Gajrawala, William Newlands, Tom Fullerton, bode Organizations: Modelo Especial, Getty, Rio, Constellation Brands, Corona, Modelo, Constellation, Jefferies, Anheuser, Busch, Groupo Modelo, Florida International, University of Texas Locations: Los Angeles , California, Lansing , Michigan, U.S, Mexico, Corona, York, America, Modelo, El Paso, Americas

☆ Walz tries to burnish his everyman image with trip home to Minnesota
▼ + stars: | 2024-10-12 | by ( Aaron Pellish | ) edition.cnn.com time to read: +5 min

Mankato, Minnesota CNN —As a high school marching band played a rendition of Neil Diamond’s “Sweet Caroline,” Minnesota Gov. Tim Walz walked down the 50-yard line at Friday’s crosstown rivalry football game between Mankato East High School and Mankato West High School. After the coin toss, Walz took a seat on the bleachers, where he took selfies and signed autographs alongside his mother, Darlene Walz. The governor cheered throughout the game as Mankato West took an early lead, and although he departed at halftime, Mankato West held on to win 28-7. Before the game, Tim Walz stopped by Mankato West to greet players as they left for the stadium and speak to old colleagues.

Persons: Neil Diamond’s “, Caroline, ”, Tim Walz, Mankato West High School . Walz, Walz, selfies, Darlene Walz, Gwen, Harris, Kamala Harris, Coach Walz, he’d, “, ” Walz, Michael Strahan, Donald Trump, Walz’s, Sarah Manes, ” Richelle Norton, Gov . Walz, Gwen Walz, I’m, ’ ” Norton, Sherri Blasing, ” Blasing Organizations: Minnesota CNN, ” Minnesota Gov, Mankato East High School, Mankato West High School, “, Minnesota State University, Mankato’s, Mankato West, Minnesota Gov, Democratic, Mankato, National Guard, Beretta, CNN, NFL, Pew Research Center, WPVI News, Gov Locations: Mankato, Minnesota, ” Minnesota, Eye , Minnesota, Philadelphia, China

☆ Dollar bulls suffer setback as traders add to Fed cut bets
▼ + stars: | 2024-10-11 | by ( ) www.cnbc.com time to read: +3 min

The U.S. dollar fell from two-month highs hit overnight versus its major peers after signs of weakness in the labor market boosted the case for quicker Federal Reserve rate cuts. Bets for a quarter-point Fed rate cut on Nov. 7 increased to 83.3% from 80.3% a day earlier, with the remaining odds for policy to stay steady, according to the CME Group's FedWatch Tool. A week earlier, there was a 32.1% chance of a half-point reduction and 67.9% probability of a quarter-point cut. The dollar added 0.06% to 148.68 yen , inching back towards Thursday's high of 149.58 yen, a level previously not seen since Aug. 2. The Australian dollar held firm at $0.67395 after rebounding from its lowest since Sept. 16 at $0.6702 on Thursday.

Persons: Tapas Strickland, Austan Goolsbee, Raphael Bostic Organizations: U.S, Treasury, National Australia Bank, Fed, Chicago Fed, Atlanta Fed Locations: China

☆ Here's the inflation breakdown for September 2024 — in one chart
▼ + stars: | 2024-10-10 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Prices fall at the gas pumpAnnual food inflation is 'fairly tame'Frederic J. "What happens there can really move the dial when it comes to overall inflation and core inflation." CPI shelter inflation — which includes rental prices and an equivalent measure for homeowners — has gradually declined but remained stubbornly high. In September, shelter inflation throttled back on a monthly basis, to 0.2% from 0.5% in August. "Shelter inflation is now definitively moderating," Zandi said.

Persons: David Paul Morris, It's, Mark Zandi, Zandi, Sarah House, Frederic J, Brown, —, That's, that's Organizations: Bloomberg, Getty, U.S . Bureau of Labor Statistics, Wells, Wells Fargo Economics, U.S . Federal Reserve, AFP, CPI Locations: Wells Fargo

☆ We are expecting an 'uptick' in volatility, says Neuberger Berman's Holly Newman Kroft
▼ + stars: | 2024-10-10 | 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 EmailWe are expecting an 'uptick' in volatility, says Neuberger Berman's Holly Newman KroftHolly Newman Kroft, Neuberger Berman private wealth managing director, joins CNBC's 'Money Movers' to discuss her reaction to today's CPI report, how to invest with expected volatility to end the year, and what she expects from the Fed moving forward.

Persons: Neuberger, Holly Newman, Holly Newman Kroft, Neuberger Berman Organizations: CPI

☆ A 49-year-old dermatologist has never used filler, despite industry pressure. Here are 3 ways she maintains glowy skin.
▼ + stars: | 2024-10-10 | by ( Julia Pugachevsky | ) www.businessinsider.com time to read: +5 min

Dr. Noreen Galaria, 49, is a dermatologist who offers filler treatments to clients to plump up skin. Instead, she uses sunscreen, retinoids, antioxidants, and exercise to boost her skin's collagen. While she offers filler treatments to her clients, Dr. Noreen Galaria, a dermatologist in Virginia, has never used them herself. To keep her skin smooth and firm, she uses skincare products like sunscreen and retinol, incorporates antioxidants into her diet, and regularly works out. When Galaria injects filler, she normally uses a maximum of one to two syringes about the amount of a "fat blueberry."

Persons: Noreen Galaria, Galaria, —, They're, She's, she's Organizations: Service Locations: Virginia

Zuckerberg's reveal of Orion late last month has triggered a level of enthusiasm that's unfamiliar in the metaverse. He showed off the gadget — a pair of black, thick-framed AR glasses — to the live audience before placing it on his face. In the meantime, Meta is looking to build on the success of its second-generation Ray-Ban Meta smart glasses. The smart glasses went viral on TikTok during the holiday shopping season, and sales exceeded both companies' expectations. Meta is also opening a pop-up shop to showcase the smart glasses and to get them in front of more consumers.

Persons: Mark Zuckerberg, Manuel Orbegozo, Zuckerberg, Orion, CNBC's Julia Boorstin, Alex Heath, Pong, Ray, Meta, it's, Meta's, Oculus, Michael Abrash, Sara Nicholson, Andrew " Boz, Bosworth, who's, Joseph Bonner, Bonner, Luxottica Organizations: Meta, Reuters, Facebook, Ray, Orion, Quest, Wall, VR, Reality Labs, Labs, IDC, CNBC, . Engineers, Argus Research, EssilorLuxottica, Solutions, West Hollywood Locations: Menlo Park , California, U.S, Los Angeles, West, Southern California

☆ Hurricane Milton isn't the end of our destructive storm season. There's likely more to come.
▼ + stars: | 2024-10-09 | by ( Jessica Orwig | ) www.businessinsider.com time to read: +6 min

AdvertisementThen hurricane season went quiet. There were no named storms between August 13 and September 3 — typically around when hurricane season is reaching its peak. CHANDAN KHANNA/Getty ImagesAt the start of the Atlantic hurricane season in June, NOAA predicted up to 13 hurricanes by the season's end. Joe Raedle/Getty ImagesThis year's unusual hurricane season may be a sign of things to come. AdvertisementRosencrans said that there's a large window for peak hurricane season, and the peak varies each year.

Persons: Milton, We've, Hurricane Milton, Hurricane Helene, Kelly Núñez Ocasio, What's, Debby, Ernesto, Hurricanes Helene, Niña, it's, Matthew Rosencrans, CHANDAN KHANNA, Rosencrans, Stephanie Zick, It's, Núñez Ocasio, Helene, Joe Raedle Organizations: NOAA, Service, Atlantic, Texas, University's Department, Atmospheric Sciences, Atmospheric Administration, Hurricanes, Colorado State University's Department of Atmospheric, Virginia Tech's Department of Geology Locations: Hurricane, Florida, Pacific, Florida's, Bend, Gulf of Mexico, Caribbean, Hurricane Milton, Gulf, St, Petersburg , Florida

☆ Markets will be looking for any surprises out of Thursday's big inflation report
▼ + stars: | 2024-10-09 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Federal Reserve policymakers have been breathing easier lately regarding inflation, and that faith that they're closer to achieving their goal will get a key test Thursday. Specifically, the Labor Department's reading is expected to show an annual inflation rate of 2.2% and a monthly gain of just 0.1%, according to the Dow Jones consensus. However, following a much better than expected jobs report for September, Fed officials in recent days have indicated a likely more measured approach to cuts ahead. Details in Thursday's report will matter: Housing inflation has proven to be stubborn, though policymakers still expect lower rent renewals to feed into the data the months progress. The report hits just after the S & P 500 rose to a new record on Wednesday.

Persons: Dow Jones, Lorie Logan, Logan Organizations: Labor Department, Labor, Dallas

☆ NOAA: Solar storm set to arrive, possibly creating auroras as well as affecting communications, GPS systems and power
▼ + stars: | 2024-10-09 | by ( Ashley Strickland | ) edition.cnn.com time to read: +6 min

The severe solar storm, classified as a level 4 on a scale from 1 to 5, also could disrupt communications, the power grid and satellite operations, according to officials at the center. “Geomagnetic storms can impact infrastructure in near-Earth orbit and on Earth’s surface,” according to the Space Weather Prediction Center. But if the storm escalates to a G5, auroras could be visible across southern states and elsewhere around the world. Before then, the last G5 storm to hit Earth was in 2003, resulting in power outages in Sweden and damaging power transformers in South Africa. The solar storm in May was the most successfully mitigated space weather storm in history, Dahl said.

Persons: won’t, Shawn Dahl, Hurricane Milton, Dahl, auroras, John Deere, ” Dahl, we’re, ” Organizations: CNN, Prediction, Federal Emergency Management Agency, Hurricane, Dynamics, NASA, Oceanic, Atmospheric Administration Locations: United States, Alabama, Northern California, American, Eastern, Sweden, South Africa

☆ Homebuyers Have Hope With Lower Mortgage Rates, More Houses Available
▼ + stars: | 2024-10-09 | by ( James Rodriguez | ) www.businessinsider.com time to read: +11 min

Wild swings in mortgage rates discouraged almost everyone from venturing out into the market. As I wrote earlier this year, a gummed-up housing market — the Ice Age I was talking about — is good for nobody. When mortgage rates hit multidecade lows during the pandemic, millions of people were able to snag or refinance their way into cheaper monthly costs. That'd be within spitting distance of what the experts at John Burns Research and Consulting, a housing-research firm, call the "magic mortgage rate." In other words, trying to predict mortgage rates — and buying or selling a home accordingly — is a fool's errand.

Persons: Green, that's, Skylar Olsen, everyone's, it's, there's, Fannie Mae, John Burns, they'd, Ralph McLaughlin, Olsen, Lawrence Yun, Altos, Mike Simonsen, Chen Zhao, Zhao, We're, Mark Palim, Palim Organizations: Federal Housing Finance Agency, Federal Reserve, John, John Burns Research, Consulting, National Association of Realtors, Altos Research, Builders, Sun Locations: Sun Belt, Midwest

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