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In today's big story, it's out with the old and in with the new CEO at Starbucks. Starbucks announced CEO Laxman Narasimhan was stepping down after less than two years on the job . Chipotle CEO Brian Niccol was tapped to lead Starbucks' turnaround efforts. In the release announcing the news , Howard Schultz, Starbucks' chairman emeritus and three-time CEO, made no mention of Narasimhan in his statement. At Starbucks, Niccol won't need to navigate a brand crisis like he did with Chipotle in the wake of its E. coli outbreak.
Persons: , he's Benjamin Button'd, Chelsea Jia Feng, Laxman Narasimhan, Brian Niccol, it's, Grace Dean, Howard Schultz, Narasimhan, Ryan Miller, Rebecca Zisser, Alex Bitter, It's, we've, Katie Notopoulos, Tyler Le, Joe Quinlan, Berkshire Hathaway, Goldman Sachs, Greg Tuorto, Josh Edelson, Justin Sullivan, Timo Lenzen, Mercedes, unmotivated, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock Organizations: Service, Starbucks, Business, Elliott Management, Orange County Museum of Art, Taco Bell, Merrill, Bank of America Private Bank, Getty, BI, Benz, Mercedes, Dolce, Gabbana, Walmart, Walgreens, Cisco Systems, UBS Locations: Chelsea, Narasimhan, Mexican, Berkshire, AFP, Dubai, Miami, New York, London
As the economy continues to normalize and the Fed is able to lower the federal funds rate, mortgage rates should drop further. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. Mortgage Rates for Buying a Home30-Year Fixed Mortgage Rates Increase (+0.26%)The current average 30-year fixed mortgage rate is 6.17%, up 26 basis points from where it was this time last week, according to Zillow data. 15-Year Fixed Mortgage Rates Go Up (+0.26%)The average 15-year mortgage rate is 5.45%, 26 basis points higher than last week. Mortgage Refinance Rates30-Year Fixed Refinance Rates Jump Up (+1.07%)The average 30-year refinance rate is 7.04%, 107 basis points up from last week.
Persons: Zillow, Price, you'll, It's, refinance, they've Organizations: Federal Reserve, Zillow, FHA Locations: U.S, Chevron
It appears to have taken a few weeks for current homeowners to realize mortgage rates had dropped dramatically. Applications to refinance a home loan surged 35% last week, compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. While rates dropped just 1 basis point last week, they were down 33 basis points in the past four weeks. They were also 62 basis points lower than the same week a year ago. Mortgage rates started this week essentially flat, but that could change with the release of the government's monthly inflation report, the Consumer Price Index (CPI).
Persons: Joel Kan, Matthew Graham Organizations: Woodland, Lifestyle Homes, Mortgage, FHA, Index, Mortgage News Locations: Cold Springs , Nevada
SpaceX's Crew Dragon capsule "Endurance" is seen during the Crew-3 mission for NASA on May 5, 2022. "I've been interested in space from a very young age … and for the first time, a private person can plan and design their own very personal mission," Wang told CNBC. Called "Fram2," an ode to the 19th-century polar expedition ship Fram, the mission is scheduled to launch near the end of this year. Wang said his proposal to SpaceX for the Fram2 mission came together after the historic private Inspiration4 flight in 2021. "We are trying to make the door wider and make people feel that everyone can have their own very personal space mission," Wang added.
Persons: Wang, I've, Jannicke Mikkelsen, Eric Philips, Rabea Rogge, Sir Ernest Shackleton's, Chun Wang, Mikkelsen, Chun, Organizations: NASA, CNBC, SpaceX, LinkedIn Locations: Tianjin, China, Malta, Svalbard, Norwegian, Australian, bitcoin, Longyearbyen, Alaska
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCoinbase urges SEC to rethink rule change that brings DeFi under its jurisdiction: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Mar Gimenez and Piotr Cielas of Halborn discuss the cybersecurity firm's report on the top 100 DeFi hacks and what blockchain operators could do to protect against breaches.
Persons: Coinbase, explainers, Mar Gimenez, Piotr Cielas, Halborn Organizations: SEC, CNBC Crypto, CNBC
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch Tuesday's full episode of the Halftime Report — August 13, 2024"Fast Money Halftime Report" is on the front lines of CNBC's market coverage. Host CNBC's Scott Wapner and the Street's top investors get to the heart of the action as it's happening and help set the agenda for the rest of the day. Watch today's full episode on CNBC PRO.
Persons: CNBC's Scott Wapner Organizations: CNBC PRO
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestors need to be cautious about buying stocks amid real recession risk: Morgan Stanley's LaCampJim Lacamp, Morgan Stanley Wealth Management senior vice president, joins 'Money Movers' to discuss whether he is telling clients to buy stocks at today's levels, how to prepare for the risk of recession, and expectations for the Federal Reserve.
Persons: Morgan Stanley's, Jim Lacamp, Morgan Organizations: Morgan Stanley Wealth Management, Federal Reserve
CNBC Daily Open: Oil soars on Middle-East tensions
  + stars: | 2024-08-13 | by ( Abid Ali | ) www.cnbc.com   time to read: 1 min
In this article ADANITRANS-INSBUX@TY.1.DJI.IXIC Follow your favorite stocks CREATE FREE ACCOUNTTraders work on the floor of the New York Stock Exchange during morning trading on May 31, 2024 in New York City. Michael M. Santiago | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. What you need to know todayGet the CNBC Daily Open report in your inbox every morning and keep up to date with the markets wherever you are. SubscribeThe bottom line
Persons: Michael M Organizations: New York Stock Exchange, Santiago, CNBC Locations: New York City
As the Fed lowers its benchmark rate, mortgage rates are expected to decrease further. This would likely remove a substantial amount of upward pressure off of mortgage rates. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's interest rates will affect your monthly payments. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates fell to 5.63% last week, according to Freddie Mac data. Mortgage rates increased dramatically over the last two years, but they're expected to go down at some point this year.
Persons: they're, you'll, Freddie Mac, it's Organizations: Federal Reserve, Traders, Zillow Locations: Chevron
Watch CNBC's full interview with Morgan Stanley's Jim Lacamp
  + stars: | 2024-08-13 | 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 EmailWatch CNBC's full interview with Morgan Stanley's Jim LacampJim Lacamp, Morgan Stanley Wealth Management senior vice president, joins 'Money Movers' to discuss whether he is telling clients to buy stocks at today's levels, how to prepare for the risk of recession, and expectations for the Federal Reserve.
Persons: Morgan Stanley's Jim Lacamp Jim Lacamp, Morgan Organizations: Morgan Stanley Wealth Management, Federal Reserve
Job hunters are facing a slowing labor market, but does that mean they should accept an offer without negotiating items like salary or remote work? You can use those preferences to filter your job search and to inform your discussions with a prospective employer. How to counter an offerIf your preferred job arrangement, such as fully remote work, isn't a complete deal-breaker, Goredema encourages you to continue the interview process until you receive a job offer. An offer in hand puts you in a "much stronger" position to negotiate the terms of your employment. Then say, 'Now, I'd really like to discuss next steps, and that includes compensation,'" or whichever aspect you're negotiating.
Persons: Octavia Goredema, it's, Stefanie Fackrell, isn't, Goredema
Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, Airbnb said its struggles are tied to consumers spending less, but it's also because they're opting for hotels instead . The big storyPlenty of vacancyiStock; Rebecca Zisser/BIAirbnb took a noticeable step back in its ongoing battle with hotels. But Airbnb's struggles are also a product of travelers opting for hotels instead , writes Business Insider's Dan Latu. The death of the so-called millennial lifestyle subsidy — for which Airbnb was a key player — resulted in consumers rethinking things.
Persons: , Airbnb, it's, let's, Rebecca Zisser, Execs, Airbnb's, Dan Latu, haven't, Jenny Chang, Rodriguez, Bloomberg it's, BI Bank of America isn't, Nicolás Ortega, Nate Silver, Chelsea Jia Feng, Alexander, Tal, Oren Alexander, Musk, Trump, Elon Musk's, Donald Trump, Ron DeSantis, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock Organizations: Service, Apple, Business, Bloomberg, Getty, BI Bank of America, Viking, Israel, BI, Apple Intelligence, Trump, X, Florida Gov, Google Locations: Iran, New York, London
CNBC Daily Open: Prequels, sequels and pixie dust
  + stars: | 2024-08-12 | by ( Abid Ali | ) www.cnbc.com   time to read: +3 min
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The S&P 500 ended the week just 0.04% lower, while the Dow Jones Industrial Average slipped 0.6% and the Nasdaq Composite dipped 0.18%. At its lowest point on Monday, the S&P 500 was down nearly 10% from its recent high and the Nasdaq entered correction territory. [PRO] Low-volatility stocksDespite a wild week with steep sell-offs and concerns about Fed policy, markets rebounded showing resilience.
Persons: Disney, Indiana Jones, Carlos Tavares, Donald Trump, Sen, Elizabeth Warren, Elon Musk, Elon Musk's, Warren, Tesla, Robyn Denholm, Musk, CNBC's Pia Singh Organizations: CNBC, Wall, Dow Jones, Nasdaq, Magic, Hollywood, Inc, Animal Kingdom, Fiat Chrysler, France's PSA Groupe, Trump, Trump Media, SpaceX, Twitter Locations: U.S, Magic Kingdom, Disney's California, Michigan, Friday's
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Be concerned, but don't be fearful' on equities, says Wells Fargo's Chris HarveyChris Harvey, Wells Fargo Securities head of equity strategy, joins 'Squawk on the Street' to discuss what specific advice Harvey is giving his clients, why communications is a sector Harvey favors, and how important momentum is in today's market.
Persons: Wells, Chris Harvey Chris Harvey, Harvey Organizations: Wells, Wells Fargo Securities Locations: Wells Fargo
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch Monday's full episode of the Halftime Report — August 12, 2024"Fast Money Halftime Report" is on the front lines of CNBC's market coverage. Host CNBC's Scott Wapner and the Street's top investors get to the heart of the action as it's happening and help set the agenda for the rest of the day. Watch today's full episode on CNBC PRO.
Persons: CNBC's Scott Wapner Organizations: CNBC PRO
An earthquake with a magnitude of 4.4 struck the Los Angeles area shortly after noon on Monday, the U.S. Geological Survey said. People reported feeling it strongly across the Los Angeles area. The Los Angeles Fire Department said it received no initial reports of damage or injuries as it checks infrastructure citywide. "Having lived through the Northridge earthquake (magnitude 6.7 in 1994), today's tremor made me flash back to what we know are lifesaving rules during an earthquake: drop, cover, and hold on. It struck on the first school day for the Los Angeles Unified School District.
Persons: Kathryn Barger, John Marshall Organizations: U.S . Geological Survey, Los Angeles Fire Department, National Weather Service, Los Angeles Unified School District Locations: Los Angeles, U.S, San Diego, San Joaquin Valley, LA, California, Highland, Los Feliz
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEther climbs to start the week after crossing $2,600 over the weekend: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, PitchBook's Robert Le breaks down the findings of the research firm's Q2 crypto report, which reveals that crypto startups raised slightly more from VC funding compared to Q1, despite a drop in the total number of deals.
Persons: explainers, PitchBook's Robert Le Organizations: CNBC Crypto, CNBC
Fresh anxiety might also spring from the fact that the yield curve is finally disinverting, which is a recessionary signal on its own. "In other words, the Credit Crisis Cycle may be on pause this time." AdvertisementStable credit conditions also contradict a typical reason for why the yield curve inverted in the first place. They are usually correct, Yardeni noted, but not this time around. AdvertisementBut when this happens, shorter-term Treasurys typically roll off quicker than longer ones, Yardeni noted.
Persons: , Ed Yardeni, Yardeni Organizations: Service, Business, Federal Reserve, Federal, Valley Bank, ICE
Mortgage rates are down today compared to where they've been in recent weeks, with 30-year mortgage rates hovering in the low 6% range, according to Zillow data. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 15-Year Fixed Mortgage RatesLast week, average 15-year mortgage rates were 5.63%, a 36-basis-point decrease from the previous week, according to Freddie Mac data. Mortgage rates have been elevated for most of 2024, but they've been trending down in recent months. Once the Fed cuts rates, mortgage rates should fall even further.
Persons: they've, you'll, Freddie Mac, it's Organizations: July's, CPI, Federal Reserve, Zillow Locations: Chevron
CNBC asked artists to name their top New York galleries, ranging from the well-known to the underground. London-based screen-printing artist Diego Arellano likes Manhattan's Chelsea galleries for their large rooms and high ceilings. Hauser & Wirth has two Chelsea galleries, and both are currently showing work by Hungarian-born U.S. artist Rita Ackermann. The Dia Chelsea gallery in New York City will show an exhibition by British filmmaker Steve McQueen in September. Dia Chelsea | Elizabeth FelicellaBrooklyn resident and artist Zhuo Xiong also favors Chelsea galleries.
Persons: Sean Zanni, Patrick Mcmullan, Diego Arellano, Dia, Arellano, Dia Chelsea, Steve McQueen, Wirth, Rita Ackermann, The Dia, Elizabeth Felicella, Zhuo Xiong, Chelsea —, David Zwirner, Xiong, Wendy Olsoff, Penny Pilkington, Edward Akrout, Akrout, Sasha Maslov, Solomon, Eugene Gologursky, Kate Lewis, Matisse, Hopper, Degas, Henri Matisse, Edgar Degas, Edward Hopper, Lewis, Whitney, Metropolitan Museum of Art Xiong, , gallerists Akrout, Rob Kim Organizations: Whitney Museum of American Art, Getty, Metropolitan Museum of Art, of Modern Art, Art Newspaper, CNBC, Chelsea, Hauser & Wirth, Hauser, The, Tribeca, New, Arellano, Whitney, MoMA, Guggenheim, Whitney Museum of American, Guggenheim Museum, Solidarity, Museum of Modern Art, Maison, Broadway, Swiss Institute Locations: New York City, York, New York, London, Hungarian, The Dia Chelsea, British, Elizabeth Felicella Brooklyn, Chelsea, Tribeca, Ukraine, Mriya, Meatpacking, Manhattan, Midtown, Inner Mongolia, Chinatown, East, Chinatown , New York
Traders work on the floor of the New York Stock Exchange during morning trading on May 31, 2024 in New York City. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Asia markets climb higherAsia-Pacific markets were mostly higher on Monday ahead of U.S. economic data later in the week. [PRO] Distinct marketWhile U.S. and Japanese indexes fell sharply amid recent volatility, the MSCI China index rose slightly, reinforcing China's distinct market status despite slower growth.
Persons: Disney, Indiana Jones, Donald Trump, Sen, Elizabeth Warren, Elon Musk, Elon Musk's, Warren, Tesla, Robyn Denholm, Musk, Hai Precision Industry —, , Australia's, Hong Organizations: New York Stock Exchange, CNBC, Wall, Dow Jones, Nasdaq, Magic, Hollywood, Inc, Animal Kingdom, Trump, Trump Media, SpaceX, Twitter, Hai Precision Industry, SK Hynix, China's CSI, U.S Locations: New York City, U.S, Magic Kingdom, Disney's California, Friday's, Asia, Pacific, Taiwan, Australian, China
In today's big story, we're looking at how the startup landscape is drastically changing thanks to the entrance of private-equity firms and the rise of acquihires . Private equity is filling the gap left by a frozen IPO market and corporates unwilling or unable to cut deals, writes Business Insider's Melia Russell. Perhaps most importantly, a PE deal means equity holders get cash immediately, unlike an IPO that has some holding periods. Acquihires where the brains behind buzzy AI startups sell themselves (instead of the entire company) to bigger players are in vogue, writes BI's Ben Bergman and Sri Muppidi. Depreciation costs to massive GPU chip investments pose a huge risk for AI companies .
Persons: , You've, Alyssa Powell, Insider's Melia Russell, shivers, Samantha Lee, BI's Ben Bergman, Sri, acquihires, they'll, VCs, it's, Taylor Swift, Tyler Le, Fisker, Zuck, Elon Musk's, Mark Zuckerberg, Jenny Chang, Rodriguez, Biden, Donald Trump, Elon Musk, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Amanda Yen Organizations: Service, Business, SV Getty, Tech, guardrails, Character.AI, Getty, UBS, Mega, Revenue Locations: Europe, New York, London
Below, we've outlined everything you need to know when it comes to how to watch USA vs. France, including free streaming options for the final game. How to watch USA vs. France in the USThe Olympic women's basketball gold medal game will be available on Peacock and NBC in the United States. How to watch USA vs. France in the UKThe women's basketball gold medal game will live stream on BBC iPlayer in the UK. How to watch USA vs. France in AustraliaThe women's basketball final will live stream for free through 9Now in Australia. How to watch USA vs. France in FranceIn France, the women's basketball gold medal match-up will be available to watch through France.TV for free.
Persons: France's, they've, hasn't, we've, Peacock, they'll, ExpressVPN Organizations: Business, Paris Olympics, USA, US, Tokyo Olympics, Australia, Belgium, Olympic, NBC, Sling, Blue, Basketball, BBC Locations: United States, France, Friday's, Australia, 9Now, tipoff
AdvertisementBut for job seekers who are struggling, there are ways you can try to improve your odds. Related storiesHaller said job seekers should reply to a job posting within 24 hours "to at least have a shot to be in the mix." That's how long Haller said job seekers have "to capture somebody's attention by your résumé or by your profile." Haller said job seekers may want to see who they can contact at the company beforehand. Getz said "to be cautious about how often you're following up" because you're not the only job candidate a hiring manager is talking to.
Persons: , Leanne Getz, Stacie Haller, ResumeBuilder.com, Haller, Gabrielle Davis, I'm, Davis, company's, Getz, it's, I've, you've, doesn't Organizations: Service, of Labor Statistics, Business, LinkedIn Locations: mhoff@businessinsider.com
Mortgage rates dropped last week in response to July's weaker-than-expected labor market data, though they're up slightly today. As mortgage rates go down, more homeowners will have an opportunity to refinance and save money on their monthly mortgage payments. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates were 5.99% this week, according to Freddie Mac data, which is an eight-basis-point decrease from the previous week. Now that the Fed has paused hiking rates, mortgage rates have come down a bit.
Persons: it's, Freddie Mac Organizations: Zillow, Federal Reserve, Fed Locations: Chevron
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