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

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

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

☆ Harris puts abortion rights at the center of her campaign
▼ + stars: | 2024-09-20 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +7 min

CNN —A fired-up Vice President Kamala Harris adopted a rapid-response mentality to seize on the key issue of abortion rights this week. Harris’ strength on abortion rights is built on key groups that she hopes will show up in droves for her on Election Day. Among Black voters, 83% trust Harris, and among Hispanic voters, it was 63%. Eva Marie Uzcategui/Bloomberg/Getty ImagesWill men consider abortion rights when they vote? Abortion rights may not be a motivating issue for men.

Persons: CNN —, Kamala Harris, ”, Harris, Oprah Winfrey, CNN’s Priscilla Alvarez, Trump, Joe Biden’s, ” Alvarez, Donald Trump, Roe, Wade, “ I’m, ” Harris, Shanette Williams, Amber Nicole Thurman, ProPublica, Thurman, Winfrey, CNN’s Brianna Keilar, Nisha Verma, ” Verma, ” “, Verma, White, Walz, Eva Marie Uzcategui, CNN’s Arit John, Eva McKend, David Wright Organizations: CNN, Georgia, New York Times, Siena College, Trump, Black, Democratic, Republican, Biden, Bloomberg, Getty Locations: Atlanta, Michigan, Georgia, Chicago, North Carolina, Boynton Beach , Florida, Pennsylvania

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

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

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

☆ Richard Hays wrote the Christian case against same-sex marriage. Now he claims the Bible says differently
▼ + stars: | 2024-09-20 | by ( Ryan Struyk | ) edition.cnn.com time to read: +11 min

CNN —Almost three decades ago, Richard Hays, a United Methodist minister and the soon-to-be dean of Duke Divinity School, wrote what quickly became the go-to traditionalist Christian argument against same-sex marriage. Fuller Theological Seminary, where Christopher Hays is a professor, also demands agreement with a faith statement that opposes same-sex marriage. Even as support for same-sex marriage has plateaued in the last few years, recent surveys from Gallup find that more than one in five Gen Z Americans identify as LGBTQ, and nearly 90% of Americans under 30 years old support same-sex marriage. The reversal from Hays certainly will not settle the debate among Christians when it comes from same-sex marriage. But I hope it makes opponents of same-sex marriage at least pause and wonder — is there a faithful path forward that makes room for people like me?

Persons: Richard Hays, Hays, he’s, ”, ” Richard Hays, Christopher Hays, “, ” Hays, I’ve, —, ” Les Todd, hasn’t, Richard’s, ‘ I’m, ” Christopher, Paul, “ I’m, I’m, ” Ryan Struyk, Ryan Struyk, CNN Hays, Al Mohler, Robert Gagnon, Preston Sprinkle, “ It’s, Matthew Vines, CNN “, ” Fuller, “ Fuller, David Emmanuel Goatley, Doug McSchooler, Greg Johnson, Louis Organizations: CNN, United Methodist, Duke Divinity School, Duke University, Bible School, Fuller Theological Seminary, Southern Baptist Theological Seminary, Conservative, for Faith, Christian Reformed Church, Religion News Service, Southern Baptist Convention, SBC, Presbyterian Church, PCA, Gallup Locations: “, Grand Rapids , Michigan, Pasadena , California, North America, United States, Canada, Indianapolis, America

☆ 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

☆ There's a 12% correction looming for the stock market by the end of the year, Stifel says
▼ + stars: | 2024-09-20 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Stifel warns of a sharp stock market correction by year-end, with the S&P 500 potentially dropping 12%. "Our instruments tell us to expect an S&P 500 correction to the very low 5,000s by 4Q24," Bannister said. AdvertisementInvestors should prepare for a sharp and quick correction in the stock market before the end of the year, according to Stifel. In a note on Thursday, chief equity strategist Barry Bannister of Stifel warned that the S&P 500 could trade 12% lower in the fourth quarter. "Our instruments tell us to expect an S&P 500 correction to the very low 5,000s by 4Q24," Bannister said.

Persons: Stifel, Barry Bannister, Bannister, — Organizations: Service

☆ What TikTok ban? Advertisers, employees, and creators seem unfazed by its increasingly precarious future
▼ + stars: | 2024-09-20 | by ( Lara O'Reilly | Dan Whateley | ) www.businessinsider.com time to read: +6 min

A former Department of Justice attorney told Business Insider this week that the court seemed poised to rule against TikTok. AdvertisementMany TikTok creators appear unconcerned by the prospect of a ban. Others are fighting it: In May, a group of eight TikTok creators filed a lawsuit against the US government over the potential ban. TikTok users turn to the app for more than just entertainment. The current TikTok staffer told BI that they felt that advertisers were paying less attention to TikTok ban news as they've been busy gearing up for the holiday season.

Persons: —, it's, ByteDance, Daniel Openshaw, haven't, TikToker Alex Ojeda, aren't, They're, Emarketer, they've, Kantar, Gonca Organizations: Service, DC, Department of Justice, TikTok, Business, US, Tech, Jovena, Clutch, Expand, Brands, Pew Research Center, . Business, YouTube, Meta, Amazon Locations: Jovena Natal, New York, California, TikTok

☆ 64% of U.S. retirement savers make this 'dangerous' assumption—'avoid it at all costs,' says CFP
▼ + stars: | 2024-09-20 | by ( Ryan Ermey | ) www.cnbc.com time to read: +2 min

The idea behind saving for retirement is to provide yourself with income between when you stop working and when you die. For those born after 1960, full retirement age — when you receive a full Social Security benefit — is age 67. So maybe it's not surprising that most U.S. retirement savers aren't planning on a lengthy retirement. "Building a plan around spending your assets down to zero, for us, we simply avoid it at all costs." In fact, the median retirement age for U.S. workers is 62, according to research from the Employee Benefit Research Institute.

Persons: CNBC's, SurveyMonkey, Yusuf Abugideiri, Yeske Buie, Abugideiri, you'll Organizations: National Center for Health Statistics, Social Security, Research Locations: Vienna , Virginia, America

☆ Stablecoins are becoming ‘systemically important’ as market cap returns to record highs, analysts say
▼ + stars: | 2024-09-20 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

The market cap for stablecoins — cryptocurrencies that promise a fixed value peg to another asset — has recently reached all-time-high levels after a sharp drop in 2023. Monthly payments in stablecoins tripled to $1.4 trillion in the 12 months leading up to July. This could have investment implications for Robinhood down the road, he added, as it "continues integrating stablecoins for crypto trading & cross-border transfers." Crypto investors watch stablecoins closely for evidence of demand, liquidity and activity in the market. PayPal last year launched its own dollar-backed stablecoin, while Visa has been supporting stablecoin payments and Mastercard is supporting stablecoin wallets and other crypto card programs.

Persons: —, Bernstein, Gautam Chhugani, Kevin Dede, Wainwright, Dede, Goldman Sachs, Wells, Rob Goldstein, Michael Bloom Organizations: H.C, JPMorgan, PayPal, Visa, Mastercard, BlackRock, New, Financial Locations: New York City, Boston, New York

☆ Goldman Sachs: Current valuations make Korea an attractive opportunity for investors
▼ + stars: | 2024-09-20 | 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 EmailGoldman Sachs: Current valuations make Korea an attractive opportunity for investorsTimothy Moe of Goldman Sachs believes it’s only a matter of time before shareholders benefit from Korea's Value Up Program.

Persons: Goldman Sachs, Timothy Moe, it’s Locations: Korea

☆ I avoided paying for day care when I was a single mom. It was hard, but I'm glad I did it.
▼ + stars: | 2024-09-20 | by ( Ashley Archambault | ) www.businessinsider.com time to read: +4 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. When I had my son, I was determined to avoid putting him in day care while I worked. It wasn't just that I didn't love the idea, but as a single mom, I would never have been able to make enough money to make day care make sense. I knew that all my money would have gone right to paying for it. But I was a single mom without much willing help from family members, so I had to get creative.

Organizations: Service

☆ TikTok's global head of marketing is leaving as part of a reorg. Read the leaked memo to staff outlining the changes.
▼ + stars: | 2024-09-20 | by ( Dan Whateley | ) www.businessinsider.com time to read: +6 min

Read previewKate Jhaveri, TikTok's head of global marketing, is leaving the company this month as part of a leadership shake-up, according to an internal memo shared with staffers. "Together, we decided the best way to achieve this vision is to remove the head of global marketing role, and bring everyone within Global Brand & Comms under one leader." Its former VP of global communications, Hilary McQuaide, exited the company that same month, the executive posted on LinkedIn. Together, we decided the best way to achieve this vision is to remove the head of global marketing role, and bring everyone within Global Brand & Comms under one leader, aligning our work and goals toward one comprehensive vision. AdvertisementFinally, we are also making a change to our social media team to enable a more scalable model for Global Brand & Comms.

Persons: —, Kate Jhaveri, Zenia Mucha, Mucha, Jhaveri, Zuber Mohammed, Hilary McQuaide, ByteDance, Kate, Dexter Fedor, Manish Gupta, Alistair Lennie, Zuber, Alastair Boyle, Jordan Guo, Carol Baracat, Helen Lawrence, Erin Fors Organizations: Service, Global, Business, Disney, NBA, LinkedIn, CSR, AMS, EMEA, Global Brand Locations: Beijing

☆ The lawyer for Trump's new crypto firm was accused of trying to take over another digital asset company
▼ + stars: | 2024-09-20 | by ( Katherine Long | ) www.businessinsider.com time to read: +1 min

Former president Trump unveiled a new crypto company earlier this week, World Liberty Financial. Alex Golubitsky was fired from another crypto firm amid a dispute with its CEO, court docs show. On Monday, Trump announced he would be the face of World Liberty Financial in a livestream on X. While it's unclear what his official role in the organization is, he's listed in a company white paper as its "chief crypto advocate," according to a white paper obtained by CoinDesk. Three of Trump's children are also connected to World Liberty Financial, including his 18-year-old son Barron.

Persons: Trump, Alex Golubitsky, —, Donald Trump's, CoinDesk, Barron Organizations: Liberty, Service, Business

☆ Elon Musk says the FAA should make Boeing pay for putting the Starliner astronauts at risk, not fine SpaceX 'for trivia'
▼ + stars: | 2024-09-20 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +5 min

Read previewElon Musk said the Federal Aviation Administration (FAA) should punish Boeing for its Starliner failures rather than impose "petty" fines on SpaceX. In a Thursday X post, Musk expressed his displeasure with the FAA's proposed $633,009 fine for SpaceX. "NASA deemed the Boeing capsule unsafe for astronaut return, turning, out of necessity, to SpaceX, yet instead of fining Boeing for putting astronauts at risk, the FAA is fining SpaceX for trivia!" In his rebuke of the FAA and Boeing, Musk also reposted SpaceX's Wednesday letter to top congressional leaders. Representatives of SpaceX, Boeing and the FAA didn't immediately respond to a request for comment from Business Insider, sent outside business hours.

Persons: —, Elon Musk, Musk, Marc Nichols, He's, Donald Trump's, DOGE —, Butch Wilmore, Suni Williams Organizations: Service, Federal Aviation Administration, FAA, Boeing, SpaceX, Business, NASA, Trump, Boeing Starliner, Station, Starliner, Polaris Locations: American, New Mexico

☆ Jamie Dimon is the latest CEO to weigh in on RTO — this time, for DC federal workers
▼ + stars: | 2024-09-20 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Read previewFederal workers in Washington, DC, still have flexibility about where they work, and JPMorgan Chase CEO Jamie Dimon isn't impressed. In the middle of an answer, Dimon added: "By the way, I'd also make Washington, DC, go back to work. Last year, the Biden Administration pushed for federal employees to return to in-person office work. Many federal workers have indeed returned to the office for at least part of the week. He also said, however, that employees who don't like their RTO policy can find jobs elsewhere, according to The Economist.

Persons: —, Jamie Dimon isn't, Dimon, Jeffrey Goldberg, Donald Trump, Kamala Harris, I'd, Andy Jassy, CBRE Organizations: Service, JPMorgan Chase, The, Business, JP, JPMorgan, Amazon, Biden Administration, Protection Agency, Federal News Network, Department of, Treasury, Department of the, Management, Futures Trading Commission Locations: Washington , DC, Washington, DC

☆ AI could be a 'stumbling block' for Apple in China, analyst says
▼ + 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 EmailAI could be a 'stumbling block' for Apple in China, analyst saysBen Wood, chief analyst at CCS Insight, weighs in on Apple's challenges in China.

Persons: Ben Wood Organizations: Apple, CCS Insight Locations: China

☆ Ultraprocessed foods may increase your risk for type 2 diabetes, study shows
▼ + stars: | 2024-09-20 | by ( Madeline Holcombe | ) edition.cnn.com time to read: +6 min

Packaged foods, soda, chips, hot dogs, chicken nuggets and ice cream all fall under the category of ultraprocessed foods, which can include dozens of synthetic additives such as preservatives, emulsifiers and artificial dyes. For every 10% increase in the amount of a person’s diet made up of ultraprocessed foods, the team found that there was a 17% increased risk for developing type 2 diabetes, the data showed. The scientists also found that reducing the amount of ultraprocessed food you are consuming can lower the risk, according to the study. “Ultra-processed foods are everywhere,” Dicken said via email. “We also know that increased body fat (from excess calories) increases the risk of type 2 diabetes.

Persons: Nerys Astbury, Astbury, Samuel Dicken, ” Dicken, “, ”, Sarah Gallo, Dicken, It’s, Hilda Mulrooney, Mulrooney, ” Mulrooney Organizations: CNN, Nuffield Department, Primary Health Care Sciences, University of Oxford, University College London, Consumer Brands Association, London Metropolitan University Locations: Europe, US

☆ FedEx earnings miss could signal a slowing economy
▼ + stars: | 2024-09-20 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

CNN —FedEx said a weaker industrial economy produced a “challenging” quarter that caused it to trim its outlook for later this year, a sign of possible cooling in the wider economy. “The labor market is in solid condition, and our intention with our policy move today is to keep it there,” Powell said. “You can say that about the whole economy: The US economy is in good shape. The labor market is at a strong pace. Shares of FedEx had been up 21% year-to-date through Thursday’s close before Friday’s decline.

Persons: Rajesh Subramaniam, ” Subramaniam, John Dietrich, Subramaniam, ”, “, we’re, Jerome Powell, ” Powell Organizations: CNN, FedEx, Federal Reserve

☆ Case for the Bank of England to go further and faster with rate cuts: Oliver Wyman
▼ + stars: | 2024-09-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCase for the Bank of England to go further and faster with rate cuts: Oliver WymanHuw van Steenis, vice chair of Oliver Wyman and former advisor to Mark Carney, discusses the Bank of England's decision to hold interest rates at its September meeting and the impact of public sector pay rises.

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

☆ Look for stock market pain next week after Friday's 'triple witching' options expiration
▼ + stars: | 2024-09-20 | by ( Bob Pisani | ) www.cnbc.com time to read: +2 min

Today is triple witching expiration , the quarterly expiration of single stock and index options, and index futures. It's occurring at an unusual moment: the S & P 500 is at an historic high. Week after triple witch: poor Unfortunately, the week after the September triple witch is historically among the weakest of the year. S & P 500 rebalancing today The S & P 500 will see three new entrants at the close today, each of which will begin trading as part of the S & P on Monday: Dell Technologies , Erie Indemnity and Palantir Technologies . Finally, while the S & P 500 is at a new high, the Russell 2000 smallcap index is not far behind.

Persons: Chris Murphy, Jeff Hirsch, Dow Industrials, Hirsch, Dell, Russell Organizations: Stock, Nasdaq, Dell Technologies, Erie, Palantir Technologies, Etsy, Rad Laboratories, American Airlines Group Locations: Susquehanna

☆ Cutting interest rates in China is irrelevant for its economy right now: Peter Boockvar
▼ + stars: | 2024-09-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCutting interest rates in China is irrelevant for its economy right now: Peter BoockvarPeter Boockvar of Bleakley Financial says China needs time to work through the problems facing its economy, and with market sentiment being so bearish, it is time to start looking for positive catalysts.

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

☆ I work as a private chef on board a luxury yacht in the British Virgin Islands. Here's what I make for my guests in a day.
▼ + stars: | 2024-09-20 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +5 min

Read previewThis as-told-to essay is based on a conversation with Hannah Staddon, a 31-year-old private chef who works onboard the Mucho Gusto, a luxury charter in the British Virgin Islands. So, my partner and I started looking for a boat together, and we ended up working together on board Mucho Gusto. Mucho Gusto charter. Mucho Gusto charter. Mucho Gusto charterWe have an age limit of 12 on board the yacht.

Persons: —, Hannah Staddon, I've, It's, haven't, benedict, waffles, Staddon, there's, Dominic, platters Organizations: Service, Business Locations: British Virgin, South Africa

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

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

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

☆ FTC sues drug middlemen for allegedly inflating insulin prices
▼ + stars: | 2024-09-20 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +4 min

The Federal Trade Commission on Friday sued three large U.S. health companies that negotiate insulin prices, arguing the drug middlemen use practices that boost their profits while "artificially" inflating costs for patients. It comes three days after Express Scripts sued the FTC, demanding that the agency retract its allegedly "defamatory" July report that claimed that the PBM industry is hiking drug prices. It also alleges that PBMs favor those high-list-price insulins even when more affordable insulins with lower list prices become available. President Joe Biden's signature Inflation Reduction Act has capped insulin prices for Medicare beneficiaries at $35 per month. The FTC said it remains "deeply troubled" by the role insulin manufacturers play in higher list prices, arguing that they inflate prices in response to PBMs' demands for higher rebates.

Persons: Lina Khan, UnitedHealth, drugmakers Eli Lilly, Caremark, PBMs, Rahul Rao, Rao, Joe Biden's, Biden, Eli Lilly, Eli Lilly's Organizations: Federal Trade Commission, CVS, Cigna's, FTC, Sanofi, Novo Nordisk, Express, Competition Locations: Rayburn, Washington ,, U.S, drugmakers, FTC's

☆ Goldman Sachs' Naison-Tarajano: Rate cut was 'a bit of a hedge' for the economy
▼ + 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 EmailGoldman Sachs' Naison-Tarajano: Rate cut was 'a bit of a hedge' for the economySara Naison-Tarajano, Goldman Sachs Private Wealth global head of capital markets, joins CNBC's 'Closing Bell' to discuss reactions to the Fed's rate cut decision, market outlooks, and more.

Persons: Goldman Sachs, Sara Naison, Goldman Organizations: Wealth Locations: Goldman Sachs

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