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☆ Oil prices ease, U.S. crude stock build fuels demand fears
▼ + stars: | 2024-02-29 | by ( ) www.cnbc.com time to read: +2 min

Oil prices eased early on Thursday after a larger-than-expected build in U.S. crude stockpiles stoked worries about slow demand, while signs that U.S. interest rates could remain elevated for longer also added to pressure. Oil prices eased early on Thursday after a larger-than-expected build in U.S. crude stockpiles stoked worries about slow demand, while signs that U.S. interest rates could remain elevated for longer also added to pressure. "The anticipation of delayed U.S. rate cuts also weighed on the market sentiment as it could undermine oil demand," he said. Traders have already dialed back expectations for U.S. interest rate cuts after a slew of strong data, including hot consumer price index and producer price index readings. Still, the conflict in the Middle East is expected to keep a floor under oil prices, Rakuten's Yoshida said.

Persons: refiners, Satoru Yoshida, Rakuten's Yoshida, Jerusalem's Al, Joe Biden Organizations: Brent, . West Texas, Energy Information Administration, EIA, Rakuten Securities, Traders, U.S, Hamas Locations: U.S, Aqsa, Gaza, Israel

☆ Takeaways from Biden and Trump’s dueling visits to the border
▼ + stars: | 2024-02-29 | by ( Michael Williams | ) edition.cnn.com time to read: +8 min

Washington CNN —President Joe Biden and his political opponent Donald Trump both agree: The situation along the US-Mexico border needs to change. “Join me – or I’ll join you – in telling Congress to pass this bipartisan border security bill,” Biden said, addressing Trump directly. “The United States is being overrun by the Biden migrant crime,” Trump said in Eagle Pass, adding that Biden has “the blood of countless innocent victims” on his hands. “We work for the American people.”Addressing Trump, Biden said: “So instead of playing politics with the issue, why don’t we just get together and get it done?”It’s an unlikely prospect. Biden previously signaled openness to Republican-favored concessions in order to get the border bill passed.

Persons: Joe Biden, Donald Trump, Biden, Trump, ” Biden, ” Trump, ”, Biden’s, ‘, ’ ” Biden, “, Let’s, doesn’t, Greg Abbott, Laken Hope Riley, “ barbarically, –, ” Riley, terrifically, Crooked Joe Biden, Jose Antonio Ibarra, Ibarra –, Riley, “ They’re, ratcheting, Trump’s, Abbott, ” Abbott, Priscilla Alvarez, Daniel Dale, MJ Lee Organizations: Washington CNN, Trump, Republicans, Biden, CNN, Russia, Texas Gov, Investigators, Research, Republican, Abbott, Democratic Locations: Mexico, Texas, Brownsville, entreating, Eagle, Georgia, United States, America, Ukraine, Gaza, . Texas, Austin

☆ Judges in Trump-related cases face unprecedented wave of threats
▼ + stars: | 2024-02-29 | by ( ) www.cnbc.com time to read: +20 min

These broadsides frequently trigger surges in threats against the judges, prosecutors and other court officials he targets, Reuters found. In that time, serious threats against federal judges alone have more than doubled, from 220 in 2020 to 457 in 2023, as Reuters reported on Feb. 13. For judges, threats have always been part of the job. Over the last four years, the Marshals investigated more than 1,200 threats against federal judges that they considered serious, according to the data provided to Reuters. Among the 57 federal prosecutions Reuters identified during that period, 47 involved threats against federal judges, six involved threats against state judges, and four involved threats against both.

Persons: Royce Lamberth, Barrett Prettyman, Evelyn Hockstein, Lamberth, Donald Trump, Ronald Reagan, Trump, – Trump, “, ” Royce, Maureen O'Connor, Ronald Davis, stoked, Brett Kavanaugh, Nicholas John Roske, Lewis Kaplan, E, Jean Carroll's, Kaplan, “ Donald Trump, ” Maureen O’Connor, they've, Richard Sullivan, Indiana, Gonzalo Curiel, Curiel, James Robart, Robart, Jon Trainum, Attorney Alvin Bragg, Trump's, Alvin, Bragg, Judge Arthur Engoron, Jefferson Siegel, Arthur Engoron, Tanya Chutkan, Jack, I'm, Chutkan, Smith, Abigail Jo Shry, Derrick Watson, Watson, Patriots.Win, Reggie Walton, Barrett, Elizabeth Frantz, Walton, Jan, Carl Caulk Organizations: District, Reuters, U.S, Capitol, Republican, Trump, U.S . Marshals Service, Marshals Service, ” Royce Lamberth U.S, Ohio Supreme, U.S . Justice Department, Justice Department, Federal Bureau of Investigation, The, FBI, Washington , D.C, Marshals, ” Maureen O’Connor Ohio Supreme, underpins, Trump University, Manhattan, Attorney, AFP, Getty, New York, Washington D.C, Federal Locations: Washington , U.S, al Qaeda, Idaho, Washington ,, New York, ” Maureen O’Connor Ohio, U.S, Mexico, United States, Manhattan, Washington, Texas, Hawaii, Tennessee, New Jersey, Arizona

☆ Opinion: Mitch McConnell’s unconditional surrender
▼ + stars: | 2024-02-29 | by ( Julian Zelizer | ) edition.cnn.com time to read: +9 min

CNN —Mitch McConnell has bowed to political reality and announced that he is relinquishing his role as leader of Senate Republicans. (Chao served as transportation secretary under former President Donald Trump, before quitting the post following the January 6, 2021 attack on the US Capitol.) The anti-Trump coalition within the Republican Party is small and hanging on by a thread, and there is little chance of that changing in the short term. Now, one of Haley’s most generous benefactors, the conservative political action committee Americans for Prosperity, funded by the Koch network, has withdrawn its funds. And now, like other Trump opponents, Romney finds himself heading for the exit at the end of his current term.

Persons: Julian Zelizer, Mitch McConnell, McConnell, Elaine Chao, Chao, Donald Trump, ”, It’s, he’s, invectives, MAGA, Trump, Merrick Garland, Barack Obama’s, — McConnell, SCOTUS, Roe, Wade, Dobbs, Lindsey Graham, Sen, Dick Durbin, —, that’s, Gingrich’s, Nikki Haley, Haley, couldn’t, Koch, Mitt Romney, Romney, convicting Trump, Trump’s, Romney’s Organizations: CNN, Princeton University, The New York Times, America, Republicans, Julian Zelizer CNN, Trump, Ukraine, GOP, Republican Party, Republican, NATO, Tea Party, MAGA, UN, Prosperity, Old Party Locations: Washington, life’s, Ukraine, Israel, Taiwan, Kentucky, South Carolina, Utah

☆ Russia's war with Ukraine has its economy facing 'death by a thousand cuts,' economist says
▼ + stars: | 2024-02-26 | by ( Aruni Soni | ) www.businessinsider.com time to read: +2 min

Russia's war with Ukraine has its economy facing "death by a thousand cuts," a British economist wrote. Russia's economy seems to be getting along amid its protracted war in Ukraine and harsh sanctions from the West, but that can't go on forever, according to one economist. "Russia's economy faces death by a thousand cuts," British economist Roger Bootle wrote in the Telegraph on Sunday. In spite of heavy sanctions, Russia's economy actually grew 3.6% last year, faster than most countries in Europe, Bootle noted. War spending is booming, and as war production rises, its gains spill into other pockets of the economy.

Persons: Roger Bootle, Bootle Locations: Ukraine, British, Russia, Europe, Bootle

☆ Fed's favorite inflation gauge looms next week — plus, what we want from 2 portfolio earnings reports
▼ + stars: | 2024-02-24 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

Wall Street returned to its winning ways this week — and Nvidia 's blowout earnings report Wednesday night was a big reason why. Twenty-six of our 32 portfolio stocks have delivered their results this earnings season (we didn't own Abbott Labs at the time of its report). It was a muted week for macroeconomic data, but we did get a slightly better-than-expected January existing home sales report on Thursday. In the week ahead, two more Club names are set to report earnings before a market-moving economic update arrives Thursday morning. The two other reports of note are the January new home sales report on Monday and ISM Manufacturing report on Friday.

Persons: Dow, we'll, bode, We're, Li Auto, Krystal, Arcutis, MARA, Iovance, Goldman Sachs BDC, CRON, BUD, Papa, LEV, Ginkgo, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nvidia, Nasdaq, Dow Jones, Dow, Palo Alto Networks, Bausch Health, Coterra Energy, Abbott, Companies, TJX, Marshalls, TJX Companies, Berkshire Hathaway, Krystal Biotech, Alpha Metallurgical Resources , Inc, Fidelity National Information Services Inc, Animal Health, ELAN, Public Service Enterprise Group, Surgery Partners, BioCryst Pharmaceuticals Inc, Outdoor Holdings, Enlight Renewable Energy Ltd, Kosmos Energy, Playtika, Video Communications, TiRobot Corp, IRB, SBAC Communications Corporation, HEICO Corporation, FS KKR, Archer Aviation Inc, TransMedics, Sterling Construction Company, AES, Cruise Line Holdings, Lowe's Companies, American Electric Power Company, Bank of Nova, APLS Pharmaceuticals, Bank of Montreal, BMO, Devon Energy, Solar Inc, Technologies, Lab, Virgin Galactic Holdings, Splunk Inc, eBay, EBAY, Luminar Technologies, Agilent Technologies, G Foods, Masimo Corp, Baidu, Parts Inc, Icahn Enterprises, Viatris Inc, ACM Research, Golden Ocean Group, EMCOR, Industries, NRG Energy, Dycom, Editas, UWM Holdings Corporation, Vistra Energy, Marathon Digital Holdings, AMC Entertainment Holdings, Paramount Global, IonQ Inc, International, HP, Monster Beverage Corporation, Cronos, Birkenstock Holding, Anheuser, Busch InBev, Body, Brink's Company, Flags Inc, Papa John's, ACI, Hormel, Lion Electric Company, BlackRock TCP, Dole plc, DOLE, Fisker Inc, Dell Technologies, Ginkgo Bioworks Holdings, Autodesk, Green Brick Partners, Hewlett Packard Enterprise, Veeva Systems, INTTEST Corporation, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: New York City, U.S, Salesforce, Maxx, Bank of Nova Scotia, BlackRock, Cayman

☆ Premarket stocks: Could the Federal Reserve rule out rate cuts in 2024?
▼ + stars: | 2024-02-22 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

Now, some are wondering if the central bank might not cut rates at all in 2024. He expects the central bank to cut rates two to four times this year. Plus, there’s no official indication that the central bank won’t cut rates this year. • If the neutral interest rate, or the rate that maintains full employment and stable inflation, is revised upward closer to 3.5%. The neutral rate should be 2.5%, based on Fed officials’ estimates for the central bank’s key interest rate, inflation and unemployment.

Persons: stoked, Stocks, won’t pare, ”, Tom Graff, Jerome Powell, Oliver Darcy, “, Eddy, Apple’s, Read, Here’s what’s, Chris Isidore Organizations: CNN Business, Bell, New York CNN —, Federal Reserve, Deutsche Bank, Fed, Deutsche Bank economists, ” Apple, Wednesday, Apple Sports, NBA, NHL, MLS, NCAA, NFL, MLB, ESPN, Labor Department, Bureau of Labor Statistics, SAG Locations: New York, America

☆ Pricey stocks and homes, shaky banks, office turmoil, and people's debt woes are all worrying the Fed
▼ + stars: | 2024-02-22 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

AdvertisementThe Federal Reserve is worried about expensive stocks and homes, sinking office prices, shaky banks, and cash-strapped consumers. The S&P 500 soared to record highs this year as investors bet that the Fed will conquer inflation and start cutting rates within months, pushing stocks higher and staving off a recession. Fed economists said during their latest meeting that the value of multi-family homes, offices, and other commercial real estate could decline further. AdvertisementThe commercial real estate sector certainly faces a raft of headwinds. But its experts are clearly concerned about lofty stocks and home values, further commercial real estate fallout, vulnerable banks, and struggling consumers as potential threats to a soft landing.

Persons: They've Organizations: New, New York Community, Silicon Valley Bank Locations: New York, Silicon

☆ Tim Scott says stumping for Trump has helped free him 'from the internal struggle on how to promote myself'
▼ + stars: | 2024-02-22 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +2 min

"Our styles are incredibly different," Scott, a South Carolina Republican, told The Wall Street Journal. Scott has been an asset to Trump as he stumps with the former president ahead of South Carolina's GOP primary on Saturday. Advertisement"I want to do what's really best for the country," Scott told the publication. The South Carolinian said that stumping for Trump has also allowed him to avoid the internal turmoil that comes with touting himself. "What you're witnessing is just a guy who's been free from the internal struggle on how to promote myself without being braggadocious," Scott said.

Persons: —, Sen, Tim Scott, Donald Trump's, Scott, Trump, Nikki Haley, Haley Organizations: Service, South Carolina Republican, Wall Street, Business, Trump, GOP, Former UN, Senate, Super, Iowa Republican Locations: South, South Carolina, Iowa

☆ Nvidia set to report fourth-quarter earnings after the bell
▼ + stars: | 2024-02-21 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Nvidia is scheduled to announce fiscal fourth-quarter earnings after the bell Wednesday in a highly anticipated report that will give Wall Street a sense of how long the AI boom can last. Nvidia has to meet elevated expectations stoked by investor appetite for AI companies. Investors want to hear from Nvidia CEO Jensen Huang about how long these stratospheric growth rates can last. In the current quarter, Wall Street analysts expect a 208% rate of growth to about $22.17 billion in sales. But the focus Wednesday will remain primarily on its AI GPUs, which make up more than 80% of Nvidia sales.

Persons: Jensen Huang, D.A, Davidson, Gil Luria, Thomas O'Malley Organizations: Nvidia, Microsoft, Google, Wall Street, Barclays

☆ Burned-out South Korean trainee doctors walked off their jobs over a plan to boost med school enrolment
▼ + stars: | 2024-02-20 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Over 1,600 trainee doctors in South Korea walked off their jobs on Tuesday over a government plan to increase med school enrolment quotas, according to media reports. They comprise nearly half of all 13,000 trainee doctors in South Korea. Trainee doctors in South Korea regularly work shifts that stretch over 24 hours, according to a survey from a major medical trade union. AdvertisementDoctors also say an increase in medical school enrolment could compromise the quality of education and services, per Yonhap. AdvertisementIt's not the first time doctors in South Korea have walked off the jobs against a planned expansion of enrolment in the country's medical school quota.

Persons: — Organizations: Service, South Korea —, Organisation for Economic Co, Korean, Gallup, Associated Press, South Locations: South Korea

☆ Premarket stocks: Joe Biden’s top economic adviser isn’t worried about the latest inflation data
▼ + stars: | 2024-02-20 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

New York CNN —US markets broke a five-week winning streak last Friday after disappointing inflation data reignited economic and interest rate-related fears on Wall Street. Then last week, two key inflation indicators for January — the Consumer Price Index and Producer Price Index — rose above Wall Street expectations. Richmond Fed President Thomas Barkin said the new data showed that the Fed needs more confidence before cutting rates. I think in this case, the market isn’t necessarily telling you much about the economy’s fundamentals, the market is telling you what other market participants think. And I think that those economic fundamentals get you to the part that says, you know, it’s not not the economy.

Persons: Price, Thomas Barkin, Raphael Bostic, isn’t, Bell, Jared Bernstein, Joe Biden, I’m, they’re, It’s, it’s, Joe Weisenthal, Elisabeth Buchwald, Hanna Ziady, Liam Peach, ” Peach Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Richmond Fed, White House Council, Economic Advisers, CPI, Apple, Google, Nvidia, Microsoft, Capital, Discover Financial Services, Discover, Hamas, Gross, Israel’s, Bureau, Statistics, Capital Economics Locations: New York

☆ Reports of Russia building nuclear space weapons have alarmed officials, but security experts aren't panicked — yet
▼ + stars: | 2024-02-19 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +5 min

Cryptic intelligence reports this week of Russia building an unspecified nuclear space weapon stoked fear among Americans who worried escalating nuclear threats could mean global catastrophe is near. Experts on space security and the risks posed by nuclear weapons told Business Insider that rumors of Russia creating such a weapon are likely true but that it's not time to panic just yet. NPR reported the White House confirmed that Russia is working on a weapon that could threaten satellites in space but that nothing has been deployed. However, Russia has been developing anti-satellite weapons for years, John Erath, senior policy director at the Center for Arms Control and Non-Proliferation, told BI. But that's where this gets a little bit complicated because a nuclear weapon isn't really that."

Persons: US —, John Erath, They've, they've, Erath, Victoria Samson, Samson Organizations: Service, Business, CNN, NPR, White House, Soviet Union, US, Center for Arms Control, Prime, Station, Hubble, SpaceX, GPS, Starfish, Secure, Foundation Locations: Russia, Soviet, United States, Iraq

☆ These are the stocks investors should bet against, Wolfe Research says
▼ + stars: | 2024-02-17 | by ( Brian Evans | ) www.cnbc.com time to read: +4 min

As the market seesaws, Wolfe Research is eyeing stocks where it thinks downward pressure is building. But no matter which way the market heads from here, Wolfe thinks there are some stocks that could make for profitable short selling targets. Tesla has the second-most mentions among Wolfe's short interest screens with six, trailing Walgreens , which has seven. The stock's short interest hovers around 16% of float, and it appears on seven of Wolfe's short screens. DraftKings now appears on four of Wolfe's short screens, up from three in the month prior.

Persons: Wolfe, Tesla, DraftKings Organizations: Wolfe Research, Reserve, Dow Jones Industrial, Walgreens, LSEG, Hasbro, Moderna Locations: chug

☆ Trump will quit NATO, Hillary Clinton says, as anxiety mounts over U.S. commitment to the alliance
▼ + stars: | 2024-02-17 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +3 min

"He will pull us out of NATO," Clinton told attendees during a lunchtime session. watch nowU.S. Republican Senator Jim Risch, ranking member of the Senate Committee on Foreign Relations, on Saturday dismissed talk of the U.S. quitting NATO, saying: "We have answered that question." Clinton said, however, that Trump could actually just refuse to fund the alliance. Dutch Prime Minister Mark Rutte earlier Saturday referenced constant "moaning and whining" at the event about the future of NATO under Trump. Indeed, Germany's defense minister said that his country's commitment to spend 2% of GDP on defense should be just the start, noting that the threshold could rise to 3.5% if necessary.

Persons: Donald Trump, Joe Raedle, Hillary Clinton, Clinton, doesn't, Jim Risch, Trump, Europe's, Mark Rutte, Olaf Scholz, Mette Frederiksen, Frederiksen, Jens Stoltenberg, CNBC's Silvia Amaro Organizations: U.S, Getty, NATO, Saturday, White, Munich Security Conference, Trump, Congress, Republican, Foreign Relations, United States Senate, CNBC, U.S . House, Representatives, Dutch, Danish Locations: Lago, West Palm Beach , Florida, MUNICH, Germany, U.S, Russia, Munich, Ukraine, Europe, NATO, United States

☆ ‘Shawshank’ in China, as You’ve Never Seen It Before
▼ + stars: | 2024-02-16 | by ( Vivian Wang | Claire Fu | ) www.nytimes.com time to read: 1 min

When a stage production of “The Shawshank Redemption” opened recently in China, it was cast entirely with Western actors speaking fluent Mandarin Chinese. But that may have been the least surprising part of the show. Chinese audiences’ interest in Hollywood films is fading, with moviegoers turning to homegrown productions. China’s authoritarian government has stoked nationalism and cast Western influence as a political pollutant. Censorship of the arts has tightened.

Persons: ”, Stephen King, — Locations: China

LOS ANGELES (AP) — The average long-term U.S. mortgage rate rose this week to its highest level in 10 weeks, a setback for prospective homebuyers ahead of the spring homebuying season. The average rate on a 30-year mortgage rose to 6.77% from 6.64% last week, mortgage buyer Freddie Mac said Thursday. Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also rose this week, pushing the average rate to 6.12% from 5.90% last week. The average rate on a 30-year mortgage remains sharply higher than just two years ago, when it was 3.92%. The cost of financing a home has come down from its most recent peak in late October, when the average rate on a 30-year mortgage hit 7.79%, the highest level since late 2000.

Persons: Freddie Mac, ”, Sam Khater, Freddie Mac’s Organizations: ANGELES, Treasury, Federal Reserve, U.S Locations: U.S

☆ Asia markets set to rebound as Wall Street recovers ground; Japan and Singapore GDP on tap
▼ + stars: | 2024-02-15 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

A woman rides her bicycle with the Marina Bay Sands hotel and high-rise buildings in the background in Singapore on Sept. 4, 2023. Roslan Rahman | AFP | Getty ImagesAsia-Pacific markets were set to rebound after mostly falling on Wednesday after hotter-than-expected U.S. inflation data stoked concerns the Federal Reserve might keep interest rates higher for longer. On Thursday, investors will also assess gross domestic product reading from Japan and Singapore, as well as trade numbers from South Korea. Should the index match the futures level, it would be less than 1,000 points from its all-time high of 38,915.87 hit on Dec. 29, 1989. Futures for Hong Kong's Hang Seng index stood at 15,931, pointing to a stronger open compared with the HSI's close of 15,879.38.

Persons: Roslan Rahman Organizations: AFP, Getty, Reserve, Japan's Nikkei Locations: Sands, Singapore, Asia, Pacific, Japan, South Korea, Chicago, Osaka, Australia

☆ AI is shaking up online dating with chatbots that are 'flirty but not too flirty'
▼ + stars: | 2024-02-14 | by ( Hayden Field | ) www.cnbc.com time to read: +10 min

YourMove.AI, an AI dating tool that offers a range of services such as drafting messages, analyzing conversations and evaluating users' dating app profiles, has about 250,000 users, founder Dmitri Mirakyan estimates. Rizz, an AI dating assistant, debuted in 2022 after ChatGPT took off. Like in other areas, relying too much on AI in dating can cross the line into unethical behavior. Although the use of AI for dating purposes isn't necessarily all bad, he added, dating apps will still need to "tread with caution." WATCH: How I built my $400 million-a-year dating app

Persons: Stan Marsh, Clyde Donovan, Clyde, Stan, OpenAI, it's, Dmitri Mirakyan, YourMove, Mirakyan, ChatGPT, he'd, Roman Khaves, Josh Miller, Khaves, It's, Jonathan Raa, Alex Weitzman, Weitzman, They've, Gary Kremen, Kremen, Lisa Marie Bobby, Bobby, Renate Nyborg, Nyborg, Meeno Organizations: Nvidia, CNBC, Nurphoto, OpenAI's Locations: U.S, New York, chihuahua, Finland, Australia, New Zealand, Netherlands

☆ Colombia Turns Drug-Fumigation Planes Into Fire Fighters
▼ + stars: | 2024-02-14 | by ( Feb. | At P.M. | ) www.usnews.com time to read: 1 min

BOGOTA (Reuters) - Colombia on Wednesday added eight aircraft, some previously used to fumigate drug crops, to its fire-fighting fleet as it braces for more dry El Nino weather that has stoked major wildfires. President Gustavo Petro declared a natural disaster in January as fires ravaged areas of the world's second-most bio-diverse country. Petro attended an event in Tolima province displaying the four AT-802 Air Tractor planes and four Black Hawk UH-60 helicopters, originally donated by top ally the United States, that were refitted to drop water and chemicals to quell flames. The planes were used to spray the herbicide glyphosate on illegal plantations of coca, the chief ingredient in cocaine, until 2015 when the flights were stopped due to health concerns related to the chemical. (Reporting by Luis Jaime Acosta; Writing by Julia Symmes Cobb; Editing by Cynthia Osterman)

Persons: Gustavo Petro, Petro, Luis Jaime Acosta, Julia Symmes Cobb, Cynthia Osterman Organizations: Tractor Locations: BOGOTA, Colombia, Nino, Tolima, United States

☆ Democrats see New York special election win as a blueprint for defeating Trump in November
▼ + stars: | 2024-02-14 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +5 min

Stephanie Keith | Getty ImagesDemocrats aren't just breathing a sigh of relief after flipping a red seat blue in New York's special election — they're taking notes. On the same day as the special election in New York, House Republicans voted to impeach Homeland Security Secretary Alejandro Mayorkas. Republicans backing Pilip, who was born in Ethiopia and served in the Israel Defense Forces, worked hard to make the special election a referendum on immigration. Special election, special circumstancesDespite Murphy's warning, many political watchers are quick to note that the New York special election is far from a perfect bellwether for the general election. New York Republican Chair Ed Cox in a statement Tuesday night blamed "the specific circumstances that brought about this special election" for Pilip's loss.

Persons: Tom Suozzi, George Santos, Stephanie Keith, they're, Mazi Pilip, Mike Johnson, Joe Biden, Donald Trump, Alejandro Mayorkas, Pilip, Suozzi, Trump, Sen, Chris Murphy, Conn, Tom Suozzi's, Murphy, Santos, Ed Cox, Biden Organizations: Democratic U.S ., Republican, Getty, Rep, Democratic, GOP, Republicans, Biden, Homeland, Israel Defense Forces, NBC News, New, Congressional, Congress, Democrats Locations: Woodbury , New York, U.S, Mexico, New York, Ethiopia

☆ Wall Street learns an important lesson. Don’t fight the Fed
▼ + stars: | 2024-02-14 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

That sudden volatility highlights something that we often write about in Before the Bell: the major mismatch between policymaker and investor expectations for interest rate cuts this year. Federal Reserve officials, including Chair Jerome Powell, have repeatedly said they envision at most three rate cuts in 2024. Wall Street, meanwhile, has ignored those warnings and has opted to practice unflinching optimism instead. It’s not the first time they’ve had to learn an important lesson: Don’t fight the Fed. Bad for the markets, good for the Fed: Markets clearly don’t often take kindly to higher-for-longer interest rates, which can negatively impact earnings and stock prices.

Persons: New York CNN —, Jerome Powell, Dow, It’s, they’ve, Don’t, –, ”, Quincy Krosby, Arnim Holzer, José Torres, Chris Zaccarelli, doesn’t, ” Carl Icahn, Carl Icahn, Icahn, Chris Isidore, JetBlue’s, Samantha Delouya, Lyft, Erin Brewer Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Nasdaq, of Labor Statistics, BLS, Treasury, LPL, Fed, Interactive Brokers, CPI, Independent, Alliance, JetBlue, Spirit Airlines, Analysts Locations: New York, December’s, “, ”

☆ Takeaways from New York’s high-stakes special election
▼ + stars: | 2024-02-14 | by ( Gregory Krieg | ) edition.cnn.com time to read: +8 min

CNN —Democrat Tom Suozzi is heading back to Congress after defeating Republican Mazi Pilip in the special election to replace serial fabulist and expelled former GOP Rep. George Santos. The result will further narrow the GOP’s already thin House majority and hand President Joe Biden’s party a boost as the general election campaign comes into focus. If not redemption, the New York Democratic Party in this special election earned a reprieve. As the storm swept through Queens and Long Island on Tuesday, Republican groups and the Pilip campaign scrambled to drive – literally in some cases – their voters to the polls. (Democratic Rep. Grace Meng from the neighboring 6th congressional district, and the area’s Asian American voters, delivered above and beyond for Suozzi.)

Persons: Tom Suozzi, Republican Mazi Pilip, George Santos, Joe Biden’s, Donald Trump, Biden, he’s, –, Santos, Trump, Pilip, Suozzi, ”, George Santos’s, Rick Lazio, didn’t, Hakeem Jeffries, Kathy Hochul, Jay Jacobs, thrall, Israel –, Grace Meng Organizations: CNN, Republican, GOP Rep, Biden, Democrats, New York’s, ’, GOP, Trump, Santos, George Santos’s volleyball, New, Democratic, New York Democrats Suozzi’s, New York Democratic Party, – Gov, GOP House, Israel Defense Forces, Republicans, Democrat, Queens Locations: Long, dissing, Israel, New York City, New York, Queens, Gaza, Nassau County, Queens –, Suozzi

The vast majority — nearly $40 million — went to law firms working on his personal legal problems. But significant portions of their donations went to law firms defending Trump in civil cases involving his real-estate empire and its top executives, including Donald Trump Jr., Eric Trump, and Ivanka Trump. Only about $861,000 was spent on law firms working exclusively on political issues. Where there were gaps, we contacted law firms and individual lawyers who received money from the PACs. In 2021 and 2022 combined, Trump spent $16 million on legal fees through the Save America PAC.

Persons: Donald Trump, Trump, —, MAGA, Trump's, Donald Trump Jr, Eric Trump, Ivanka Trump, Stormy Daniels, Jean Carroll, Robert, Clifford S, Michael Cohen, — Troutman Pepper Hamilton Sanders, Kellogg, Hansen, Todd, Figel, Frederick —, Madaio, Alina Habba, Michael Madaio, Hillary Clinton, James Comey, Mary Trump, general's, Carroll, Trump —, Joe Tacopina, Chad Seigel, Christopher Kise, Jesus M, Suarez, Eli Bartov, Bryan Woolston, Silverman Thompson Slutkin, White, Evan Corcoran, Todd Blanche, Cadwalader, Taft, Blanche, Attorney Alvin Bragg's, Daniels, Susan Necheles, John Lauro, who's, Steven H, Drew Findling, Jennifer Little, Jesse R, it's, Jim, John Rowley, Eduardo Munoz Alvarez, Allen Weisselberg, Weisselberg, perjured, ArentFox Schiff, Jeff McConney, Stanley Woodward, Stanley Brand, Carlos de Oliveira, John S, Irving of, Boris Epshteyn, Kenneth Chesebro, Troutman Pepper, Ivanka, Newsmax, Harmeet, Dhillon, Bradley T, Morvillo Abramowitz, David Pecker, Elkan Abramowitz, Greenberg Traurig, Ballard Spahr, Mintz, Levin, Cohn, Ferris, Corey Lewandowski, Robert Mueller's, Jones, Andrew Kelly, It's, Forbes, defaming Carroll, he's Organizations: Service, Trump, Save America PAC, Make, Trump Organization, Politico, Reuters, New, Associates, Democratic National Committee, The New York Times, Times, Continental LLP, Inc, AP, Attorney, Capitol, Law, Taft, Brand Woodward Law, Irving of Earth & Water Law, Ivanka Trump, Republican National Committee, Save, MAGA, Curve Solutions, National Enquirer, Republican, MAGA PAC, Bloomberg Locations: New York, Georgia, Carroll, Manhattan, Florida, York, Washington, DC, Wickersham, Attorney Alvin Bragg's Manhattan, Fulton County , Georgia, codefendants, MAGAworld, Robert Mueller's Russia

☆ Trump’s NATO comments stir up a political storm as Russia keeps quiet
▼ + stars: | 2024-02-12 | by ( Sam Meredith | Www.Linkedin.Com In Samuelmeredith | ) www.cnbc.com time to read: +4 min

Former U.S. president Donald Trump pictured during a meeting with NATO Secretary-General Jens Stoltenberg at Winfield House, London on Dec. 3, 2019. She added that the NATO alliance "allows us to prevent war." The defense spending target is not a requirement and many countries have sought to ramp up their military spending since Russia launched its full-scale invasion of Ukraine. NATO's so-called Article 5 mutual defense clause means that an attack against one NATO member is considered an attack against all allies. "NATO cannot be an 'a la carte' military alliance ... depending on the humor of the president of the U.S.," Borrell said when asked to respond to Trump's comments, Reuters reported.

Persons: Donald Trump, Jens Stoltenberg, NICHOLAS KAMM, Trump, …, Vladimir, Dmitry Peskov, Trump's, Joe Biden, Biden, Nikki Haley, Haley, Chris Christie, I've, Jake Sullivan, Dursun, Stoltenberg, NATO Ally, Josep Borrell, Borrell Organizations: U.S, NATO, Winfield House, AFP, Getty, Former, Statista, Russia, Reuters, Top, Democratic, Republican, South Carolina Gov, CBS, NBC News, US National Security, North Atlantic Council, Anadolu Locations: London, Former U.S, South Carolina, Russia, U.S, United States, Brussels, Belgium, Canada, France, Italy, Turkey, Ukraine, NATO's

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