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Indexes rallied to record highs as investors cheered Wednesday's rate cut from the Fed. Jobless claims reinforced the Fed's message of a strong labor market, with last weeks's claims down 12,000. AdvertisementMajor stock indexes surged to record highs on Thursday, a day after a jumbo rate cut from the Federal Reserve. On Wednesday, the Fed cut interest rates for the first time in four years, slashing its benchmark rate by 50 basis points. The Fed's dot plot shows the central bank will likely cut another 50 basis points this year and 100 basis points next year.
Persons: , Dan Ives, Ives, Jerome Powell, Powell, Richard Bernstein Organizations: Fed . Tech, Nvidia, Meta, Service, Federal Reserve, Dow Jones Industrial, Nasdaq, Broadcom, ASML, Labor Department, Treasury, Fed, Trump Media Locations: Here's
Gold flat as investors focus on Fed
  + stars: | 2024-09-18 | by ( ) www.cnbc.com   time to read: +2 min
Gold prices were flat on Wednesday as investors weighed chances of an outsized interest rate cut by the Federal Reserve later in the day. Gold prices were flat on Wednesday as investors weighed chances of an outsized interest rate cut by the Federal Reserve later in the day. The Fed is expected to announce a cut to interest rates for the first time in more than four years at 1800 GMT. Markets are now pricing in a 65% chance of a 50-basis-point rate cut, compared with 34% a week earlier, according to the CME FedWatch tool. Zero-yield bullion tends to be a preferred investment in a lower interest rate environment and during geopolitical turmoil.
Persons: Jerome Powell, Matt Simpson, let's Organizations: Federal Reserve, Index Locations: ., Lebanon
The matrix of individual officials' expectations pointed to another full percentage point in cuts by the end of 2025 and a half-point in 2026. In all, the dot plot shows the benchmark rate coming down about 2 percentage points beyond Wednesday's move. On core inflation, the committee took down its projection to 2.6%, a 0.2 percentage point reduction from June. In fact, the last time the monthly hiring rate was this low – 3.5% as a share of the labor force – the unemployment rate was above 6%. At his press conference following the July meeting, Powell remarked that a 50 basis point cut was "not something we're thinking about right now."
Persons: Michelle Bowman, Jerome Powell, Powell Organizations: WASHINGTON, Federal Reserve, Market, Dow Jones, Fed, Gross, Atlanta Fed
We'll show you everything you need to know about where to watch Survivor Season 47, including free options. We'll highlight global watch options, including free streaming and a limited-time-only deal on a US option. Where to watch Survivor Season 47 in the USIf you're a longtime fan of Survivor, there should be no surprises here. Check price at FuboWhere to watch Survivor Season 47 in CanadaSurvivor Season 47 will air at the same time as the US in Canada on Global TV. Where to watch Survivor Season 47 in AustraliaNew episodes of Survivor Season 47 will be available to stream for free on 9Now in Australia a little less than a day after they air in the US.
Persons: Jeff Probst, Jon Lovett, we've, you'll, ExpressVPN Organizations: Business, Survivor, Crooked Media, CBS, Paramount, Showtime, Paramount Plus, Nickelodeon, Comedy Central, BET, MTV, Paramount CBS, Canada Survivor, Global, Canadian Locations: Fiji, Canada, Australia
How to play the Fed decision using options on gold
  + stars: | 2024-09-18 | by ( Tony Zhang | ) www.cnbc.com   time to read: +3 min
Gold is trading at all-time highs due to a combination of inflation concerns, geopolitical risks, and expectations around monetary policy. Historically, gold tends to benefit from dovish monetary policies, especially when they signal prolonged low interest rates, which reduce the opportunity cost of holding non-yielding assets like gold. Gold has maintained its bullish momentum, trading near $2,600, and appears to be breaking into new all-time highs. Looking at the chart, gold has consistently made higher highs and higher lows, a sign of strong upward momentum. The trade To express a bullish to neutral view on gold going into the Fed announcement, consider selling a SPDR Gold Shares (GLD) Nov 1 $237.5/232.5 Put Vertical @ $2.02 Credit.
Persons: GLD Organizations: CNBC, NBC UNIVERSAL Locations: Central
We have a handful of them in the Club's portfolio, led by Best Buy . The five Club stocks with the biggest dividend yields fit the bill: Best Buy, Morgan Stanley , Coterra Energy , Stanley Black & Decker and Wells Fargo . Best Buy, Stanley Black & Decker and Wells Fargo are the best positioned of the five top-yielding Club stocks. "Morgan Stanley is now in no man's land: Too low to sell, too high to buy," Jim said. Customers look at appliances for sale at a Best Buy store in Miami, Florida, Oct. 8, 2021.
Persons: we're, Morgan Stanley, Stanley Black, Decker, Wells, Wells Fargo, Jim Cramer, Jim, Charlie Scharf, Coterra, it's, Jim Cramer's, Joe Raedle Organizations: Best, Coterra Energy, BBY, JPMorgan, Texas, Jim Cramer's Charitable, CNBC, Getty Locations: U.S, Wells Fargo, Miami , Florida
This story is available exclusively to Business Insider subscribers. Vital PursuitThe meals cost less than $5 and are available at retailers including Target and Walmart, starting Wednesday, according to the company. These small meals, branded as protein-rich, are designed to help GLP-1 users lose more fat, and less muscle. "We want to be a brand for those 82% of Americans who are managing their weight," Stoehr told Business Insider, referencing a Morgan Stanley report. "These meals seem like a decent option... but not a great one," Malloy wrote in an email to Business Insider.
Persons: , Nestlé, Kristen Stoehr, Stoehr, Morgan Stanley, We're, Alix Turoff, Mike Molloy, Hilary Brueck, I've, I'd, Turoff, Malloy, It's, that's, I'm, Nestlé's, Marlene Schmidt, Morgan Stanley's Organizations: Service, Business, Target, Walmart Locations: Nestlé, New York
He said a boost from the weak yen to exports has faded as the Japanese currency rebounded sharply in August. Total exports rose 5.6% year-on-year in August, up for a ninth straight month, data showed on Wednesday, well below a median market forecast for a 10% increase and following a 10.3% rise in July. Exports to the United States dipped 0.7%, the first monthly decline in nearly three years, as auto sales slumped 14.2%. Those to China, Japan's biggest trading partner, rose 5.2% in August from a year earlier. The value of imports grew 2.3% in August from a year earlier, versus a 13.4% increase expected by economists.
Persons: Takeshi Minami Organizations: Asahi, Co, Bloomberg, Getty, U.S, Norinchukin Research Locations: Hekinan, Aichi Prefecture, Japan, U.S, China, United States
“I am a rapist, like the others in this room,” Pelicot told the court Tuesday, as his long-awaited testimony began. In a move rarely seen in France, Pelicot refused to remain anonymous. While many are charged with raping Gisèle Pelicot one time, others are charged with as many as six assaults. Indeed, Dominique Pelicot had been arrested before, nabbed in a supermarket outside Paris in 2010, using a pen-camera to film under women’s skirts. Dominique Pelicot obtained hundreds of prescription drugs from his own doctor, who declined to speak to police.
Persons: Dominique Pelicot, Gisèle Pelicot, ” Pelicot, Dominique Pelico, ” Anne, Cécile Mailfert, Pelicot, Mailfert, I’m, ” Gisèle Pelicot, don’t, , Gisele Pelicot, Christophe Simon, Gisèle, Le Figaro, , Blandine Deverlanges, Amazones, ” Dominique Pelicot, , Dominique Peliquot, Jean, Pierre Maréchal, Maréchal, ” Maréchal, Caroline Darian, Valentine Rioufol, Rioufol, Salma Sabri, ” Valentine Rioufol, Linda Hervieux, ” Sabri, it’s, Sabri, Stephanie Vincent, scoffed, ” Vincent, Charlotte Flegon, ” Flegon, I’ll Organizations: ZZIIGG, Reuters, Fondation des Femmes, NBC News, Palais de, Getty, ” Defense, ” Police, Dare, NBC Locations: MAZAN, France, Avignon, Mazan, Paris, Bordeaux, Marseille, AFP, Montségur, Lauzon, Canada, Montreal
Microsoft — Shares were up about 2% after the tech giant increased its quarterly dividend by 10.7% to 83 cents per share. Shopify — Shares of the e-commerce stock gained 2.6% after Redburn Atlantic upgraded Shopify to buy from neutral. Shopify should continue gaining market share as the U.S. social e-commerce market appears poised for explosive growth over the next few years. AppLovin — The mobile software company rose more than 2% after UBS upgraded shares to buy from neutral. Gannett — Citi upgraded the newspaper company to neutral from sell, sending shares higher by 4%.
Persons: Jefferies, Dell, AppLovin, Gannett, , Fred Imbert, Sarah Min, Sean Conlon, Michelle Fox Theobald Organizations: Microsoft, Intel, Dell Technologies, Mizuho Securities, UBS, Gannett — Citi Locations: 4Q24
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Muted session: U.S. stocks were flat Tuesday after the S & P 500 briefly made a new all-time high in the session. 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, hasn't, We're, Marc Benioff, Mills, Jerome Powell, Jim Cramer's, Jim, Kevin Mohatt Organizations: CNBC, Procter, Procter & Gamble, Jim Cramer's Charitable, U.S . Federal, Federal, Committee Locations: Procter &, San Francisco, Washington , U.S
In recent weeks, more stocks are participating in the market's move to record or near-record highs. "Market breadth breakouts support the bullish case," Bank of America technical analyst Stephen Suttmeier said in a 29-page report Monday. Suttmeier relied on the advance/decline line , a measure of the number of stocks rising in price on a given day versus the number of stocks that have fallen in price, for his analysis. Advancers also beat decliners on the Nasdaq Stock Market by about 2,500 to 1,000, or a ratio of 2.5 to 1. "Strong advance-decline (A-D) lines show solid market breadth [and] suggest a 'rotational' versus 'toppy' trading pattern since July," Suttmeier told clients.
Persons: Stephen Suttmeier, Suttmeier, Advancers, decliners Organizations: Bank of America, New York Stock Exchange, Nasdaq, U.S, NYSE Locations: U.S
Which is not true.”Las Vegas-based real estate agent Zoila Sanchez photographed outside of her home in Henderson, Nevada. Sanchez is confident, insisting the energy she sees for Harris outweighs the increased Trump talk among fellow Hispanics. “I feel the Democrats take the Hispanic vote for granted here in Vegas or in Nevada,” Cerros said. “She came up with immigrant parents, which to me, it’s amazing for someone like that to come up and be able to be president,” Munoz said. Nevada also elected a Republican governor in 2022, and Munoz believes that makes it more hospitable climate for Trump this year.
Persons: Zoila Sanchez, ” Sanchez, Kamala Harris, , , Donald Trump, “ I’ve, Jacqueline Kalil, CNN Trump, Sanchez, , Joe Biden, Harris, Rogelio Regalado, Rafael Cerros Jr, Cerros, ” Cerros, CNN “, , Regalado, ” Regalado, “ It’s, Hajji, ” Hajji, Henderson, Zena Hajji, who’s, Biden, haven’t, Antonio Munoz, Penny, Trump, Munoz, ” Munoz, ” Antonio Munoz, ” Harris Organizations: Nevada CNN, Las, Reagan Republican, CNN, Trump, , Taco Bar, Biden, Republican Locations: Henderson, Nevada, Las Vegas, Henderson , Nevada, , Spanish, Vegas, Israel, El Mercado, America
Amazon Basics Memory Foam Mattress (10-inch, Queen) While it has its shortcomings, the Amazon Basics Memory Foam Mattress is a good budget option for side sleepers and couples. AdvertisementConstructionYour body sinks into the foam of the Amazon Basics Memory Foam Mattress. AdvertisementComfortWhile Joyner and I tested the Amazon Basics Memory Foam Mattress in different thicknesses, we both tested the queen size and plush feel. AdvertisementThe bottom lineWhile the 10-inch Amazon Basics Memory Foam Mattress was comfortable, the 8-inch version (shown here) will likely be uncomfortable for most adults. The Amazon Basics Memory Foam Mattress is only $300, so it's no surprise it has deficiencies.
Persons: Kylie Joyner, Read, Joyner, Alyssa Powell, Erin Brains, James Brains Organizations: Business, Garmin Locations: Siena
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. 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, we've, Stanley Black, Decker, Jim, Hock Tan, Stocks, Jim Cramer's Organizations: CNBC, TJX Companies, Depot, Microsoft, Management, Excel, Broadcom, Intel, Hewlett Packard Enterprise, Devices
We expected there to be a cooling labor market — that's kind of the goal — and it's always just, you know, how cool?" That being said, when it comes to the labor market … it is, in fact, so over. That's an improvement over July's 4.3% unemployment rate, but overall, the jobs market in the US is cooling off. Related stories"If you imagine a labor market like a bathtub, the bathtub is full," said Dana Peterson, the chief economist at the Conference Board. Despite the strong labor market, they're sending endless résumés into the ether without getting any bites, and they don't understand why.
Persons: I've, it's, Allison Shrivastava, Joanne Hsu, there's, Dana Peterson, Jaime, Alexis Fowler, she'd, That's, pang, Hsu, Michael Madowitz, Y, Peterson, We're, Emily Stewart Organizations: Federal, University of Michigan, Conference Board, Roosevelt Institute, Business
Bank of America reiterates Amazon as buy Bank of America said it's sticking with its buy rating on Amazon following CEO Andy Jassy's letter to employees on Monday. Bank of America adds Palantir to the US1 list Bank of America added the stock to its top picks list. Bank of America reinstates Carvana as buy Bank of America resumed coverage of Carvana and upgraded it to buy saying it sees accelerating growth. Bank of America upgrades Hewlett Packard Enterprise to buy from neutral Bank of America said shares of the company are "attractive." Bank of America upgrades GE Vernova to buy from neutral Bank of America said it sees a "power surge" for the stock.
Persons: Oppenheimer, Andy Jassy's, Andy Jassy, Bernstein, Tesla, underperform Bernstein, Redburn, LSCC, Ford Tamer, Mizuho, DELL, Morgan Stanley, Virgin, Jefferies, it's bullish, JEF, ARMK, Baird, BTIG, " Jefferies, SolarEdge Organizations: Nvidia, " Bank of America, Bank of America, Semiconductor, Stifel, Board, Dell, JPMorgan, ViaSat, United Airlines, Viasat, IFC, Virgin Galactic, Virgin, Citi, UBS, APP, RBC, Baird Conference, Burger, Walmart, Technologies, Healthcare, Barclays, D, WEC, Hewlett Packard Enterprise, of America, Hewlett, Packard Enterprise, GE, Gas Power Services Locations: Europe
Companies can face data-security challenges with cloud storage and access management. Dan Benjamin, the senior director of product management at Prisma Cloud, a cloud-security platform made by Palo Alto Networks, said that incorporating data-security posture management into cybersecurity strategies could help solve many of these problems. This is crucial, as an IBM report published in 2023 estimated that 82% of data breaches involved data stored in the cloud. Organizations also often use several cloud systems and sometimes lack a solid security strategy for maintaining, updating, and securing data. Liat Hayun, the vice president of product management and research of cloud security at the cybersecurity company Tenable, said cloud environments' flexibility makes them attractive to companies.
Persons: , Dan Benjamin, Benjamin said, Liat Hayun, Tenable, they're, Hayun, haven't, Benjamin, DSPM, Julie Madhusoodanan, Madhusoodanan Organizations: Service, Palo Alto Networks, LinkedIn, Companies Locations: DSPM, Normalyze
Read previewFormer President Donald Trump is taking his courtship of the crypto industry to the next level. "If we don't do it, China will do it," Trump told Sarmad, referring to making cryptocurrency mainstream. Ahead of the Monday livestream, Trump said he would use the event to launch his latest business venture: a new crypto-banking platform called World Liberty Financial. During the Monday livestream, Trump credited his changing perspective on crypto to his NFTs' positive response. During the Monday livestream, Trump took a scaremongering approach, encouraging crypto lovers to vote for him lest they court hostility from the US Securities and Exchange Commission.
Persons: , Donald Trump, Web3, Trump, Sarmad, Chase Herro, Zach Witkoff, Steve Witkoff, Trump's, Donald Jr, Eric, Barron, Don Jr, Kenneth Niemeyer, hocking NFTs, Joe Biden, poising, you'd, bitcoin, Kamala Harris Organizations: Service, Republican, Business, Liberty, Liberty Financial, CNBC, Trump, New York Times, US Securities and Exchange Commission, Analysts, Fox Business Locations: China, Nashville, United States, cryptocurrencies
From property woes to sluggish economic data, China appears to be suffering from long Covid. Wall Street turns bullishBillionaire investors, including Appaloosa Management founder David Tepper and "Big Short" investor Michael Burry, recently revealed they are sticking to their China bets. The famed investor loaded up on Alibaba stock in the second quarter, revealing an $11.2 million position in the company. That makes Alibaba Burry's largest holding, with other Chinese tech stocks including Baidu and JD.com also featuring on Burry's portfolio. Meanwhile, BCA Research recently upgraded Chinese onshore stocks to overweight, with China strategist Jing Sima expecting Chinese onshore stocks to passively outperform global equities.
Persons: Jiang Sheng, It's, Ted Alexander, CNBC's, David Tepper, Michael Burry, Alibaba, Tepper, Burry, JD.com, Jing Sima, George Boubouras, Goldman Sachs, Song Zhiyong, Eric Lin Organizations: Visual China, Getty, Appaloosa Management, KE Holdings, Baidu, BCA Research, K2 Asset Management, CNBC, Bank of America, National Bureau of Statistics, China's Ministry of Transport, Civil Aviation Administration, Asia Pacific Summit for Aviation Safety, Paris Olympic Games, Greater, Greater China Research, UBS Locations: China, Beijing, Wall, Japan, South Korea, Singapore, Europe, Greater China
A new report commissioned by a labor-backed group is examining a problem many Democrats might rather ignore: the exodus of working-class voters from the party they used to call home. Some voices on the left have downplayed the significance or even denied the loss of working class voters, but the data is increasingly clear and signs of realignment are everywhere. “We take the right wing and Republican Party seriously when they say they want to be the party of the working class,” Mitchell said. Too often, the report argues, working-class voters are thought of as white men without college degrees, likely involved in a trade like plumbing. If nothing else, Mitchell hopes the research will push Democrats to take seriously the erosion with working class voters and to move beyond one-size-fits all stereotypes when thinking about how to talk to working-class voters.
Persons: Donald Trump, , Ohio Sen, JD Vance, Donald Trump’s, “ I’ve, MAGA, , Maurice Mitchell, it’s, ” Mitchell, Harris, Mitchell Organizations: Republican, Republicans, Working Families Party, Working, Democratic, NBC News, Republican Party, HIT, Biden Locations: Ohio, New York,
In all, the series picked up four awards, including history-making individual acting honors for its two stars Sanada and Anna Sawai. John Oliver thanks his late dogJohn Oliver at the 76th Emmy Awards on Sunday, Sept. 15, 2024 at the Peacock Theater in Los Angeles. You’re very good girls, you’re very good boys, and you all deserve a treat!”John Leguizamo stands up for progressJohn Leguizamo at Sunday's Emmy Awards. Despite my name, I come in peace.” – Will Smith, a English writer and producer and winner of outstanding writing for a drama series for “Slow Horses,” referencing that moment from the Oscars. Nine times out of ten, I’m right.” – Steve Martin“Welcome everybody to the 76th Emmy Awards — also known as broadcast TV’s biggest night for honoring movie stars on streaming services.” – Dan Levy, who hosted alongside dad Eugene a solid – if not safe – show
Persons: Shōgun, Justin Marks, Hiroyuki Sanada, Chris Pizzello, , , Sanada, Anna Sawai, Sawai, ” Richard Gadd, Richard Gadd, I’d, Lisa Colón, Zayas, Liza Colon, Jae, Tina, Meryl Streep, Sheryl Lee Ralph, Carol Burnett, ” Candice Bergen, ’ Candice Bergen, Kevin Winter, Murphy Brown, Candice Bergen, she’s, Bergen, Dan Quayle, Murphy, Selena Gomez, Steve Martin, Martin Short, John Oliver, Danny Moloshok, Sarah McLachlan, ” Oliver, John Leguizamo, Mario Anzuoni, Reuters John Leguizamo, Leguizamo, “ She’s, Kathy Bates “, ” – Will Smith, Nicole Kidman, Steve Martin “, , ” – Dan Levy, Eugene Organizations: CNN, Voters, Republican, Peacock, Reuters, New York Times Locations: Los Angeles
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Debating P & G: We remain torn over traditional slowdown stocks like Procter & Gamble and other defensive consumer stocks. 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, we're, Morgan Stanley, Wells, Wells Fargo, It's, we've, Hock Tan, Rene Haas, Jim Cramer's, Jim, Charlie Scharf, Patrick T, Fallon Organizations: CNBC, Apple, Apple Intelligence, Micron, Currency, Procter, Gamble, Colgate, Palmolive, Broadcom, Arm, Jim Cramer's Charitable, Milken Institute Global Conference, Afp, Getty Locations: stock's, Wells Fargo, Beverly Hills , California
We'll show you how to watch the Falcons vs. Eagles from anywhere, including free streaming options. How to watch Falcons vs. Eagles in the USThe Falcons vs. Eagles game will air on Monday at 8:15 p.m. If you don't have cable, you can live stream the game through a live TV package like Sling TV or Fubo. Sling TV is one of the cheaper live TV services out there. Users will just need to create a login, and then they're all set to start live streaming.
Persons: ExpressVPN Organizations: Business, Monday, Falcons, Eagles, Atlanta Falcons, Pittsburgh Steelers, Super Bowl, Philadelphia Eagles, Green Bay Packers, NFL, US, ESPN, ESPN2, ESPN3, ESPN Deportes, DAZN's Locations: Atlanta, Philly, British
CNN —A district court judge in San Antonio ruled against the Texas attorney general’s attempt to stop one of the state’s biggest counties from mailing voter registration applications to a large number of unregistered voters. Judge Antonia Arteaga on Monday dismissed a temporary restraining order and a temporary injunction filed by Attorney General Ken Paxton as moot, since Bexar County had already mailed out the applications. County commissioners approved a plan on September 3 to mail roughly 210,000 applications through a contract with an outside vendor. The attorney general argued in his challenge that it was illegal for the county to arrange for the unsolicited, mass mailing of voter registration applications. His office also launched an election integrity unit in 2018 investigating allegations of voter fraud, but it has yielded few convictions.
Persons: general’s, Judge Antonia Arteaga, Ken Paxton, Joe Gonzales, Paxton, Travis County Organizations: CNN, Republican, Civic Government Solutions, KABB Locations: San Antonio, Texas, Bexar County, Travis, Austin
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