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In a speech to Congress, also on Tuesday, with López Obrador sitting a few steps from her, the promises seemed more tangible. It is far less than the 2.6 million barrels per day López Obrador promised at the beginning of his term. Experts said Mexico would not be able to increase oil production using traditional methods, because its fields are getting tapped out. Mexico is almost out of oil,” said Adrian Fernandez, who holds a PhD in environmental science from Imperial College London and directs the Mexico Climate Initiative, a think tank. Before leaving office, López Obrador pushed through a constitutional reform that strongly favors the Federal Electricity Commission.

Persons: —, Claudia Sheinbaum, Andrés Manuel López Obrador, ”, López Obrador, Sheinbaum, Rosanety Barrios, Enrique Peña Nieto, Adrian Fernandez, Fernández, Hurricane John, Hurricane Otis, Claudia, ” Barrios Organizations: MEXICO CITY, Federal Electricity Commission, Mexican Energy Regulatory Commission, Ministry of Energy, Imperial College London, Mexico Climate Initiative, United Nations, Hurricane, CFE, Associated Press Locations: MEXICO, López, Mexico, Paris, Dos Bocas, Acapulco, Guerrero, AP.org

☆ Satellite imagery shows Iranian oil tankers at country’s major terminal disappearing amid fears of Israeli counterattack
▼ + stars: | 2024-10-04 | by ( Natasha Turak | ) www.cnbc.com time to read: +5 min

A general view of the Port of Kharg Island Oil Terminal in Iran on March 12, 2017. Fatemeh Bahrami | Anadolu Agency | Getty ImagesSatellite imagery revealed a number of oil tankers vacating the waters around Iran's key Kharg Island oil loading terminal, amid fears of an Israeli counterattack on Tehran's energy infrastructure. Their empty VLCC supertankers vacated the country's largest oil terminal, Kharg Island, yesterday," tracking firm TankerTrackers.com wrote in a post on the X social media platform on Thursday evening. VLCC tankers are specifically designed to transport large volumes of crude oil. Kharg Island: Iran's largest oil terminalLocated fifteen miles off Iran's northwestern coast, the Kharg Island terminal handles more than 90% of the country's crude exports.

Persons: Fatemeh, TankerTrackers.com, Hassan Nasrallah —, Samir Madani, Sara Vakhshouri, Joe Biden, Biden Organizations: Anadolu Agency, Getty, National Iranian Tanker Company, Copernicus, Sentinel, Sentinel Hub CNBC, CNBC, Kharg, SVB Energy, Brent, West Texas Locations: Kharg, Iran, Israel, Persian, London

☆ OpenAI just secured a ton of new cash. Now it needs to wow us
▼ + stars: | 2024-10-04 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

One thing seems clear: The company is burning through far more cash than it’s bringing in, according to reporting from the New York Times. (That’s revenue largely from subscriptions to premium versions of ChatGPT and licensing its tech to third-party developers.) Here’s where things get a little wild:Next year, OpenAI estimates that its revenue will more than triple to $11.6 billion. It’s not clear how, or whether, OpenAI is working on reducing its significant cash burn. “It has nothing to do with reality.”One way OpenAI could improve its margins would be to cut costs.

Persons: CNN Business ’, New York CNN —, Goldman Sachs, that’s, Gil Luria, Davidson, ” Luria, “, Luria, There’s, OpenAI, Sam Altman, we’ve, ” Organizations: CNN Business, New York CNN, Google, Pfizer, Microsoft, Nvidia, Ark Investment Management, Apple, Wall Street, New York Times, Times, CNN, CNBC, Bravo, ” Locations: New York, Silicon Valley, Silicon

☆ Leaders from BCG, Infosys, AARP, and more predict how AI will transform top companies in the next 12 months
▼ + stars: | 2024-10-04 | by ( Julia Hood | Tim Paradis | ) www.businessinsider.com time to read: +17 min

During a virtual roundtable, we asked Business Insider's Workforce Innovation board to tell us how AI would transform companies over the next year. How will the most innovative companies be transformed by AI over the next 12 months? Last year, we had an AI challenge across the company, and a huge percentage of our employees participated. There are a lot of different points of view on what AI will and will not do and how quickly. And that the promise we think AI is going to deliver will probably take longer than we think to come to fruition.

Persons: Tim Paradis, Vinod Khosla, Khosla, upskilling, Justina Nixon, Nixon, Saintil, AARP's Marjorie Powell, Powell, Chris Deri, Anant Adya, Marjorie Powell, Alicia Pittman, We've, We're, It's, coder, Maggie Hulce, Salesforce, what's, Chen, we've, Weber, everybody's, Anant, Shane Koller, Tipton Organizations: Sun Microsystems, Weber, IBM, Saintil, Infosys, AARP, Boston Consulting, Clear, Federal Housing Finance, Street Locations: Dreamforce, San Francisco, Tipton

☆ If you liked the first Joker movie, critics say you'll hate the sequel
▼ + stars: | 2024-10-04 | by ( Jason Guerrasio | ) www.businessinsider.com time to read: +8 min

"Joker: Folie à Deux" opens in theaters Friday. Here's a sampling of what critics think of "Joker: Folie à Deux," which is in theaters now. "'Joker: Folie à Deux' often recalls the series finale of 'Seinfeld,' insofar as it puts its main character on trial for his former misdeeds," he wrote. Related stories'Folie à Deux' really is a musical — just not a good onePhoenix and Gaga in "Joker: Folie à Deux." It's definitely not a movie for the fansGaga and Phoenix in "Joker: Folie à Deux."

Persons: Joaquin Phoenix, Lady Gaga, Harley Quinn, —, Oscar, Todd Phillips, Arthur Fleck, Gaga's Lee Quinzel, Fleck, Warner, Phillips, Nick Schager, Arthur couldn't, IndieWire's David Ehrlich, Pete Hammond, TIME's Stephanie Zacharek, Johnny Oleksinski, Gaga, Lee, Niko Tavernise, Alison Willmore, Hollywood Reporter's David Rooney, Gaga tamps, Richard Lawson, Arthur's, Lawson, Arthur, It's, Critics, He's, he's, Variety's Owen Gleiberman, BBC's Nicholas Barber, it's, TIME's Zacharek Organizations: Rotten, Service, DC Comics, Phoenix, Arkham, Warner Bros, coy, New York, MGM, Miss, Hollywood Locations: CinemaCon, Miss Saigon

☆ Goldman Sachs says crude could spike by $20 on Iran oil shock
▼ + stars: | 2024-10-04 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +4 min

The oil tanker 'Devon' prepares to transfer crude oil from Kharg Island oil terminal to India in the Persian Gulf, Iran, on March 23, 2018. Oil prices could shoot up $20 per barrel if Iranian production sees a hit resulting from Israeli retaliation, according to Goldman Sachs. U.S. crude oil prices just saw a third consecutive session of gains after Iran launched a ballistic missile attack on Israel, heightening tensions in the region. If Israel hits Iran's oil industry, supply disruptions in the Strait of Hormuz could become of concern, other analysts echoed. This strategically significant waterway connects crude oil producers in the Middle East with major global markets.

Persons: Struyven, Daan Struyven, Goldman Sachs, CNBC's, Saul Kavonic, Joe Biden, Brent Organizations: U.S . Energy Information Administration, Oil, CNBC, White, bbl, USD150, Fitch Solutions, BMI Locations: Devon, India, Persian Gulf, Iran, Saudi Arabia, UAE, Israel, U.S, China, Hormuz, Strait, Oman, OPEC

Banks up : Financials were also strong Friday, with Wells Fargo and Morgan Stanley our top performers on the session. Beer boss : Shares of Club stock Constellation Brands were bouncing Friday, one day after a steep post-earnings slide . As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, It's, WTI, Prices, Banks, Wells, Morgan Stanley, Wells Fargo, Jim, Goldman Sachs, Beer, Bill Newlands, Newlands, Jim Cramer's Organizations: CNBC, ., Fed, West Texas, Drug Administration, Centers for Disease Control, National Institutes of Health, NEC, Club, Abbott Laboratories, Constellation Brands, Modelo, Constellation, Morning, Costco, Jim Cramer's Charitable Locations: U.S, Israel, Mexico, Wells

☆ One change I made to my social media use made a big difference on my mood
▼ + stars: | 2024-10-04 | by ( Madeline Holcombe | ) edition.cnn.com time to read: +6 min

“It also makes you a lot nicer to be around.”Cutting out social media and screen time altogether may be too much to ask. And because social media algorithms are designed to hold your attention, negative content that grabs you will keep getting pushed to you, Armitage said. On the other hand, if you are getting sucked into email, social media or news, you are getting rolling before you’ve had a chance to plan your day mentally, Rutledge said. By starting the day without social media, you might also get a boost from increasing your sense of agency over the kinds of content you are consuming — rather than letting social media pull you into a mindless scroll, Rutledge said. “By doing these things you are taking control of your phone rather than your phone controlling you,” Armitage added.

Persons: CNN —, cohost Zach Kornfeld, didn’t, Pamela Rutledge, “, ” Rutledge, Charlotte Armitage, ” Armitage, Armitage, Rutledge, you’ve, ”, Organizations: CNN, Media Psychology Research Center, ”, “ Locations: Newport Beach , California

☆ Russia has lost access to CERN in a sign that its war in Ukraine is causing a major scientific brain drain
▼ + stars: | 2024-10-04 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +9 min

CERN is revoking access for 500 Russian scientists over the Ukraine war, cutting them off from key facilities. But experts say the move is a major setback for Russian science, and is fueling brain drain. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Pierre Albouy/ReutersTriggering a Russian brain drainScientific experts, including several with working ties to CERN, spoke about the consequences to Russia and the wider scientific community. Advertisement"The relationship with Russian scientists has always been very strong because they have a very long and very good reputation in particle physics," Grimes said.

Persons: —, Denis Balibouse, Mikhail Kovalchuk, Sidortsov, Vladimir Putin, CERN's, Pierre Albouy, Kate Shaw, Roger Cashmore, Robin Grimes, Putin, Grimes, Lionel Flusin, It's, Arnaud Marsollier, Marsollier, Anja Niedringhaus, Tara Shears, Shaw Organizations: CERN, Service, European Organization for Nuclear Research, Collider, Joint Institute for Nuclear Research, Reuters, Kremlin, TASS, Kurchatov Institute, UK's University of Sussex, London's Imperial College, Foreign, Commonwealth Office, Getty, Novaya Gazeta Europe, Nature, CERN's Globe, UK's University of Liverpool Locations: Ukraine, Geneva, Switzerland, Russia, Belarus, Moscow, Europe, Russian, Soviet, Novaya, CERN's

☆ Google is considering nuclear power to feed its energy-hungry AI data centers
▼ + stars: | 2024-10-04 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Google could one day use nuclear energy to power its AI data centers. Competitors like Amazon and Microsoft are turning to nuclear energy to power their data centers too. AdvertisementIf Google CEO Sundar Pichai's hints on Thursday are any indicator, nuclear energy may one day power some of Google's energy-hungry AI data centers. To be sure, this isn't the first time Google has expressed interest in clean energy alternatives like nuclear energy. In March, Amazon inked a $650 million deal to buy electricity from the Susquehanna nuclear power station, per the Financial Times.

Persons: Sundar Pichai, —, Sundar Pichai's, Pichai, bZnGkp4RnQ Organizations: Google, Microsoft, Service, Nikkei Asia

☆ Stellantis sues UAW in US federal court over strike threats
▼ + stars: | 2024-10-04 | by ( ) edition.cnn.com time to read: +3 min

CNN —Chrysler parent Stellantis filed a federal lawsuit against the United Auto Workers, saying the union has violated its contract by threatening to strike over the company’s delays in planned investment. The automaker filed the suit on Thursday asking the US District Court in the Central District of California to declare the decision by UAW Local 230 in Los Angeles to take a strike authorization vote violates terms of the contract reached last fall. Stellantis seeks to hold the UAW and the local union chapter liable for any potential revenue loss and other damages resulting from lost production due to any strike. On Thursday, a supermajority of UAW members at Stellantis’ Los Angeles Parts distribution center voted to request strike authorization if the company and union can’t settle a grievance over planned company investments. “The UAW acted in bad faith by disregarding this language, filing sham grievances, and calling a strike authorization vote to pressure Stellantis to proceed with planned investments,” the company said in the lawsuit.

Persons: Stellantis, Shawn Fain, Fain, ” Fain, Carlos Tavares, “ Organizations: CNN, Chrysler, United Auto Workers, Court, Central District of, UAW Local, UAW, Los Angeles Parts, can’t, Stellantis, The Energy Department, Plant Locations: Central District, Central District of California, Los Angeles, Belvidere , Illinois, Belvidere, Indiana, Kokomo

☆ HSBC says buy this data center stock as AI drives growth
▼ + stars: | 2024-10-04 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

HSBC thinks Equinix could see strong growth ahead thanks to strong demand for artificial intelligence data centers. The company operates as a real estate investment trust (REIT) that focuses primarily on data centers. Kanumuri upgraded the data center stock to buy from hold and raised his price target to $1,000 per share from $865. "However, we see this as a value-accretive opportunity for Equinix to accelerate growth and improve revenue per data center in 2025." Of the 27 covering Equinix, 21 rate it as a buy or a strong buy.

Persons: Equinix, Phani Kanumuri, Kanumuri Organizations: HSBC, Microsoft Locations: Equinix

☆ It's going to take nuclear energy to power AI at scale, says TeraWulf CEO Paul Prager
▼ + stars: | 2024-10-04 | 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 EmailIt's going to take nuclear energy to power AI at scale, says TeraWulf CEO Paul PragerPaul Prager, TeraWulf founder and CEO, joins CNBC's 'Power Lunch' to discuss energy infrastructure, the relationship between AI and energy, and more.

Persons: Paul Prager Paul Prager Organizations: TeraWulf

☆ Red Lobster is a mess. Here’s why the new 35-year-old CEO wanted the job anyway
▼ + stars: | 2024-10-04 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +10 min

Red Lobster's new chief executive Damola Adamolekun during an interview with CNN at a Red Lobster in Long Island, New York, last week. CNNIn Springfield, he first ate at a Red Lobster with his parents and two siblings after church one Sunday. Red Lobster was where he, like millions of Americans, experienced eating lobster and cracking crab legs for the first time. Beyoncé sang about taking a romantic partner to Red Lobster in her 2016 hit song “Formation.”After Red Lobster filed for bankruptcy, Flava Flav ordered the whole menu to try to save the company. Red Lobster closed more than 100 restaurants this year, including a location in Orlando, Florida, shown this year.

Persons: Damola Adamolekun, “, ” Adamolekun, It’s, ”, Adamolekun, Bill Darden, Mills, Chris Rock, Nicki Minaj, Beyoncé, Flav, “ Mr, ” —, Kevin Lamarque, Clarence Otis Jr, RJ Hottovy, Hottovy, Adamolekun’s, ” Hottovy, ’, Red, Phelan M, can’t, John Paulson, Paulson, P.F, Chang’s, Morgan McClure, Fortress, ” McClure, Brandon Bell, isn’t Organizations: New, New York CNN, CNN, Fortress Investment, Fortress, Red, Boomers, Darden, Thai Union Group, Former Red Lobster, Thai Union, As Thai Union, Thai, Brown University, Harvard Business School, Paulson & Co Locations: New York, Long, , New York, Nigeria, Zimbabwe, Netherlands, Springfield , Illinois, United States, Long Island , New York, Springfield, America, Alexandria , Virginia, Olive, Thai Union, Thai, Orlando , Florida, P.F, Chang’s, Columbia , Maryland, New York City, Scottsdale , Arizona, Austin , Texas

☆ Israel may not be able to take down Iran's nuclear sites on its own
▼ + stars: | 2024-10-04 | by ( Mikhaila Friel | Tom Porter | ) www.businessinsider.com time to read: +6 min

One option would be to take out Iran's nuclear sites — something Biden opposes. A hit on Iran's nuclear facilities could, however, create far graver consequences, potentially including a race by Iran to build a nuclear weapon. AdvertisementUS President Joe Biden would not support Israel's Prime Minister Benjamin Netanyahu in targeting nuclear sites. As The Financial Times noted, there are more than a thousand miles between Israel and Iran's main nuclear bases. And Iran's nuclear sites present a formidable target, sprawling across various sites, with several of the most sensitive located in heavily fortified underground bunkers.

Persons: Biden, —, Sabet, Joe Biden, Wisam, Benjamin Netanyahu, Jim Watson, Matthew Savill, Robert Dover, Issam, Filipo, Savill Organizations: Service, Geneva Graduate Institute, New York Times, Getty Images Israel, Brent, Reuters, Getty, Financial Times, US Congressional Research Service, Atomic Scientists, Royal United Services Institute, Hull University, EU, UN, University of Bristol Locations: Israel, Iran, It's, Lebanon, Anadolu, Fordow, London, Dover

☆ Short ideas: Here are the stocks JPMorgan is betting against in the fourth quarter
▼ + stars: | 2024-10-04 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Despite the major indexes trading near their all-time highs, there are still plenty of stocks that JPMorgan is bearish on in the coming quarter. Against this backdrop, JPMorgan surveyed its analysts for their top short ideas, or stocks that might underperform going into the fourth quarter. Shares have risen 9% in 2024, leading to what JPMorgan analyst Michael Rehaut believes is an expensive valuation. JPMorgan analyst Kenneth Goldman also has an underweight rating on Beyond Meat . "Plant-based meat continues to struggle as the fad fades," the analyst wrote.

Persons: Stocks, Stanley Black, Decker, Michael Rehaut, Kenneth Goldman, Stephen Tusa, Mark Strouse Organizations: JPMorgan, Federal, Traders, Rockwell Automation, ROK, FuelCell Energy Locations: —, underinvestment

☆ Israel steps up its airstrikes on Beirut as the conflict in the Middle East escalates
▼ + stars: | 2024-10-04 | by ( Hannah Abraham | ) www.businessinsider.com time to read: +4 min

Israel is intensifying strikes on Lebanon in an attempt to dismantle Hezbollah's command. Israel also blocked a major road near Lebanon's Masnaa border crossing with Syria, a report said. AdvertisementIsrael carried out air strikes in the Lebanese capital of Beirut on Friday as it stepped up its efforts to dismantle Hezbollah's leadership. According to The New York Times, citing Israeli officials, Israel targeted Hashem Safieddine, the rumored successor of Hezbollah's assassinated leader, Hassan Nasrallah. Related storiesThere are now growing fears that the conflict could transform into a full-blown war in the Middle East.

Persons: Hashem Safieddine, Hezbollah's, Israel, —, Hassan Nasrallah, Safieddine, Mohammad Rashid Sakafi, Adraee, Avichay Adraee, Joe Biden, Jake Oubina, Piper Sandler Organizations: Service, The New York Times, National News Agency, Israel Defence Forces, The Guardian, Brent, US West Texas, Reuters, Fox Business Locations: Israel, Lebanon, Lebanon's, Syria, Beirut, Beirut's, Gaza, Tehran

☆ U.S. crude oil has risen nearly 9% this week as traders fear Middle East supply disruption
▼ + stars: | 2024-10-04 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Just how high prices would go depends on whether OPEC uses its spare oil capacity to plug the gap, Struyven said. Here are today's energy prices:Though oil prices have surged this week on geopolitical tensions, they have risen from a low baseline. "The risk to the oil price outlook are definitely significant," Struyven told CNBC's "Squawk Box Asia" Friday. The oil market had largely ignored the escalating war in the Middle East until Iran launched nearly 200 ballistic missiles at Israel on Tuesday. The risk premium has been modest because there haven't been sustained supply disruptions over the past two years despite high geopolitical tensions, Struyven said.

Persons: Joe Biden, Daan Struyven, Goldman Sachs, Struyven, CNBC's, Brent, haven't Organizations: OPEC Locations: Israel, Israeli, China, East, Iran

☆ Activist firm Mantle Ridge has $1 billion-plus stake in Air Products
▼ + stars: | 2024-10-04 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Activist investor Mantle Ridge has a $1 billion-plus stake in industrial gas supplier Air Products and Chemicals , according to a person familiar with the matter. The activist investor also wants to push the company on succession planning for Seifi Ghasemi, Air Products' 80-year-old CEO, the person said. Air Products is badly underperforming the S&P 500 for a second straight year. Air Products has a market cap of about $63 billion as of Friday's close. Air Products supplies chemicals and gases primarily to industrial customers, but has in recent years diversified into other businesses.

Persons: Seifi Ghasemi, Mantle, Paul Hilal, Seifi, Samir Serhan, Ghasemi, Warren Buffett, Berkshire Hathaway, Ken Squire Organizations: Air Products, Oiltanking, Chemicals, Products, Berkshire, CSX

☆ Helene’s survivors shoulder catastrophic loss and destruction after storm leaves at least 213 dead
▼ + stars: | 2024-10-04 | by ( Elizabeth Wolfe | ) edition.cnn.com time to read: +10 min

Community volunteers carry gas at a relief area and community coordination center in Bills Creek, North Carolina, on Thursday. Melissa Sue Gerrits/Getty ImagesMen remove items from a fine arts business in Marshall, North Carolina, on Thursday. Melissa Sue Gerrits/Getty ImagesA volunteer helps clean out a flooded crawlspace under a home impacted by Hurricane Helene in Cruso, North Carolina, on Thursday. In North Carolina, guard members have been dropping in supplies from the air and airlifting people and pets to safety. President Joe Biden visits an area affected by Hurricane Helene in Keaton Beach, Florida, on Thursday.

Persons: Helene, Joe Dancy, CNN’s Laura Coates, ” Helene, Allison Joyce, Polly Trottenberg, Frank Matranga, ” Matranga, Melissa Sue Gerrits, Hurricane Helene, Jonathan Drake, Helene ., Jaclyn Rothenberg, we’re, Alejandro Mayorkas, Matranga, Joe Biden, ” Biden, Mandel Ngan, Joe Biden's, Tom Brenner, Eddie Hunnell, Hunnell, Phil Worth, Leslie, couldn’t, Phil, “, ” Hunnell, ”, Leslie Worth, “ Leslie, “ I‘d, CNN Hunnell, CNN’s Kayla Tausche, Sam Fossum, Haley Talbot, Sara Smart, Emma Tucker, Andy Rose, Steve Almasy Organizations: CNN, Hurricane, Community, Getty, US Transportation Department, Reuters Cell, National Guard, FEMA, Homeland, Reuters Local, Small, Republicans, SBA Locations: Virginia, Carolina’s Buncombe County, Asheville, tatters, Swannanoa , North Carolina, United States, North Carolina, South Carolina, Georgia, Florida, Tennessee, Bills, , North Carolina, AFP, Marshall , North Carolina, Cruso , North Carolina, Hurricane, Keaton Beach , Florida, Grassy Creek , North Carolina, Worth

☆ Ukraine appears to be beating Russia in the drone production race
▼ + stars: | 2024-10-04 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

Ukraine and Russia have boosted domestic drone production efforts to meet front-line needs. AdvertisementThe stunning rise of drone warfare has pushed Ukraine and Russia to boost their respective domestic efforts to produce unmanned systems, kicking off a high-stakes race to out-manufacture the other. By contrast, Russian President Vladimir Putin said last month that Moscow intended to ramp up drone production tenfold to around 1.4 million a year, noticeably less than its neighbor. Although more traditional military drones are active. The demand for more unmanned systems has pushed Ukraine and Russia to increase their domestic drone output to keep up with battlefield requirements — setting the stage for an unprecedented arms race.

Persons: —, Volodymyr Zelenskyy, Zelenskyy, Vladimir Putin, Diego Herrera Carcedo Organizations: Service, Kyiv, International Defense Industries, Getty, Institute for Locations: Ukraine, Russia, Kyiv, Russian, Moscow, Anadolu, Europe

☆ Wider Middle East conflict threatens the global economy — when the US and China already face headwinds, experts say
▼ + stars: | 2024-10-04 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +6 min

The widening conflict in the Middle East threatens to crimp growth and stoke inflation, experts say. AdvertisementExperts say the escalating war in the Middle East could choke global economic growth and reignite inflation, just as the US is dealing with the aftermath of Hurricane Helene, and China is trying to stabilize its beleaguered economy. "War in the Middle East could exacerbate the instabilities in the global economy, further increase the uncertainties, harm disinflationary efforts, and eventually reduce the global GDP growth," he told Business Insider. AdvertisementKaya warned the conflict could accelerate inflation by disrupting international supply chains and causing the cost of energy and shipping to rise. But he emphasized that hurricanes have historically had limited and short-lived impacts on growth and inflation.

Persons: Helene, —, Hurricane Helene, Ahmet Kaya, Kaya, Brent, Assaf Razin, Eitan Berglas, Oliver Allen, Allen, that's, Duncan Wrigley, China's, Wrigley Organizations: stoke, Service, UK's National Institute of Economic, Social Research, Eitan, of Economics, Tel Aviv University, Pantheon Macroeconomics, Oxford Locations: Hurricane, China, Israel, Iran, Oxford, China China, Beijing

☆ Jim Cramer tells investors to put this chipmaker and this bank on their buy lists
▼ + stars: | 2024-10-04 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Jim Cramer calls September's nonfarm payroll growth a "no landing" number, meaning we don't have to waste energy debating a hard economic landing versus a soft landing. AMD stock is starting to reflect that, he added, but it hasn't had nearly the gains of rival Club stock Nvidia this year. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: Jim Cramer, September's, Jim, Lisa Su, hasn't, Morgan Stanley, Wells, It's, Jim Cramer's Organizations: CNBC, Dow, Nasdaq, Club, AMD, Nvidia, Bank, Fed Locations: U.S, Israel, San Francisco, Wells Fargo

☆ How to trade the jump in oil and energy stocks using options
▼ + stars: | 2024-10-04 | by ( Jeff Kilburg | ) www.cnbc.com time to read: +2 min

Crude oil is nearly $10 higher since October officially kicked off. I want to use the 2024 lagging Energy Select Sector SPDR ETF (XLE) as way to express my short-term bullish view on the price of oil. XLE YTD mountain Energy Select Sector SPDR, YTD Oil markets are measuring the possibility of an imminent air strike by Israel on Iran's crude and energy facilities. However, I believe that would not be the main driver to push crude higher short-term, in would be the fearful reaction of this war spreading outside the Middle East region. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.

Organizations: Traders, CNBC, NBC UNIVERSAL Locations: Israel, East, XLE

☆ Why oil prices haven't skyrocketed on Middle East supply fears — yet
▼ + stars: | 2024-10-04 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +6 min

Iran, which is a member of OPEC, is a major player in the global oil market. It's estimated that as much as 4% of global supply could be at risk if Israel targets Iran's oil facilities. For some analysts, the reason crude prices have yet to move even higher is because the oil market is short. watch nowTamas Varga, an analyst at oil broker PVM, told CNBC via email on Thursday that the oil market was pricing in some risk premium given the geopolitical concerns. These fears, however, will be greatly alleviated in [the] coming days unless oil supply from the region or traffic through the Strait of Hormuz are materially impacted," he added.

Persons: Fatemeh, Goldman Sachs, SEB, Jeff Currie, Carlyle, CNBC's, it's, Currie, we've, Amrita Sen, We've, Sen, Joe Biden, Biden, Tamas Varga, " Varga, Benjamin Netanyahu, Masoud Pezeshkian Organizations: Anadolu, Getty, Energy, OPEC, Brent, U.S, West Texas, CNBC, White House, Islamic Revolutionary Guard Corps, Persian, Nurphoto Locations: Isfahan Refinery, Iran, Isfahan, Israel, Swedish, backwardation, bearishness, U.S, Hormuz, Oman, Tehran, Qatar, Persian, Bushehr, Bushehr province

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