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☆ CNBC Daily Open: One day makes all the difference
▼ + stars: | 2024-09-20 | by ( Yeo Boon Ping | ) 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. "Recalibration" Fed Chair Jerome Powell's use of the word "recalibration" seemed to reassure investors that the central bank's 50 basis point cut wasn't that worrying. It signaled the Fed wasn't responding to a slowing economy, but shifting focus to ensuring employment doesn't dip further, wrote CNBC's Jeff Cox. At the end of Washington's song, she croons, "What a difference a day makes / And the difference is you."

Persons: BOE, Jerome Powell's, Jeff Cox, Dinah Washington, Oppenheimer, Brian Belski, Powell, –, Alex Harring, Fred Imbert, Hakyung Kim, Lisa Kailai Han Organizations: Nasdaq, CNBC, JPMorgan Chase, of England, Monetary, Fed, Dow, Nvidia, Apple, BMO Locations: New York, Dinah Washington . Washington

☆ We expect to keep policy rate at 4.5% until end of the year, Norway central bank chief 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 EmailWe expect to keep policy rate at 4.5% until end of the year, Norway central bank chief saysNorges Bank Governor Ida Wolden Bache discusses the decision to hold interest rates in September.

Persons: Norges Bank Governor Ida Wolden Bache Organizations: Norges Bank Governor Locations: Norway

Now that the Fed has cut rates, mortgage rates may not drop much further in the near term. But if the Fed doesn't lower rates as much as expected this year, mortgage rates may hold steady or even inch up. But rates are still expected to come down further, so it may also be worth waiting to see how low mortgage rates go. 5-Year Mortgage Rate TrendsHere's how 30-year and 15-year mortgage rates have trended over the last five years, according to Freddie Mac data. Mortgage rates are determined by a variety of different factors, including larger economic trends, Federal Reserve policy, your state's current mortgage rates, the type of loan you're getting, and your personal financial profile.

Persons: Lawrence Yun, you'll, they've, Freddie Mac, it's, Fannie Mae Organizations: Federal Reserve, Wednesday, National Association of Realtors, Consumers, Zillow, ARM, Federal Housing Administration, Department of Veterans Affairs, Fed, Mortgage, Association Locations: Chevron

☆ How 3 friends without any hospitality experience started renting out over 400 tiny homes in remote locations around the world
▼ + stars: | 2024-09-20 | by ( Erin Liam | ) www.businessinsider.com time to read: +7 min

An early obstacleWith no experience in architecture or building, their first roadblock was figuring out how to build a tiny house. Developing their tiny houses into a profit-sharing businessAfter garnering attention from local media, the team started to receive inquiries on how to purchase tiny houses, Chia said. AdvertisementIn 2023, they set up tiny houses in SingaporeThe tiny house movement encourages minimalistic and sustainable living. Each tiny house is placed in natureBig Tiny's tiny house in Lake Stella, New Zealand. Big TinySeven years on, Big Tiny has placed more than 400 tiny houses in more than 10 countries worldwide, from Taiwan to Europe and Australia.

Persons: Adrian Chia's, Dave Ng, he'd, Dave, Chia, Ng, — Chia, Adrian Chia, Jeff Yeo, Yeo, Big Tiny, Lazarus, Tiny Organizations: Service, Business, Big, Sentosa Development Corporation, Singapore's Ministry of Trade and Industry, BI, Lake Stella Locations: Melbourne, Singapore, Chia's, Australia, Victoria, New South Wales, Germany, Lazarus, Southern, Lake Stella , New Zealand, Taiwan, Europe, New Zealand, Christchurch, Yilan

CNN —Investigators are trying to determine what motivated a Kentucky sheriff to allegedly shoot and kill a district judge after the two had an argument inside the judge’s chambers, according to Kentucky State Police. Letcher County, Kentucky District Judge Kevin R. Mullins Letcher County governmentLetcher County Sheriff Shawn M. Stines, 43, shot Mullins after an argument inside the judge’s chambers, a preliminary investigation revealed. It is unclear who will take over as the county sheriff following the arrest of Stines, who had been sheriff for about eight years. An ambulance near the scene after a district court judge in Kentucky was fatally shot in his chambers , on Thursday, September 19. The Kentucky Court of Justice is aware of the “tragic” incident in Letcher County, the court said in a statement on Facebook.

Persons: Kevin Mullins, Matt Gayheart, Kevin R, Mullins, Shawn M, Stines, Gayheart, ” Gayheart, “ We’re, Russell Countydeputy, Andy Beshear, Stines Mullins, Steve Beshear, ” Stines, “, General Russell Coleman, Jackie Steele, ” Coleman, Clayton Stamper, Laurance, VanMeter, ”, Mullins ’, ” VanMeter, Matt Butler, recusing, Butler, Judge Mullins, ” Butler, Ivy, Allison Ball, ” Ball Organizations: CNN —, Kentucky State Police, District, CNN, Kentucky’s, Gov, Associated Press, WKYT, AP, Kentucky, Judicial, KSP, Facebook, Southeast Kentucky Community, Technical College, Associated Press . Locations: Kentucky, Letcher, Whitesburg , Kentucky, Letcher County , Kentucky, Mullins Letcher, Letcher County, Laurel County, Jackhorn, Eastern, Central Kentucky, SOAR, Associated Press . Kentucky

☆ Zoo Atlanta bids farewell to pandas after 25 years
▼ + stars: | 2024-09-20 | by ( Kelly Bowman | ) edition.cnn.com time to read: +7 min

Atlanta CNN —After a quarter-century hosting giant pandas, Zoo Atlanta is saying goodbye to its beloved residents. The zoo announced its four giant pandas: Lun Lun, Yang Yang, Ya Lun and Xi Lun will head home to China mid-October. Zoo Atlanta says the total number of giant pandas is still low for maintaining a viable population. Kelly Bowman/CNN“Panda-Palooza”And if you want to wish the Zoo Atlanta pandas farewell the zoo will be sending them off in style with a “Panda-Palooza” event on October 5, 2024. San Diego Zoo Wildlife Alliance is an international non-profit conservation organization divided in two parts: the San Diego Zoo and the San Diego Zoo Safari Park.

Persons: Lun, Yang Yang, Ya Lun, Xi Lun, They’ve, Sam Rivera, Rivera, Adam K, Kelly Bowman, CNN “ Organizations: Atlanta CNN, San Diego Zoo, Smithsonian National Zoo, Zoo Atlanta, Atlanta, Animal Health, Zoo, International, Georgia Tech, Thompson, World Wildlife Fund, Pandas, CNN, Smithsonian National, San Diego Zoo Wildlife Alliance, San Diego, Safari, Wildlife Fund Locations: Zoo Atlanta, China, Washington, Atlanta, San Diego, United States, Africa, Asia, Central, South America, San

☆ The Fed is definitely taking their dual mandate seriously here, says GenTrust's Mimi Duff
▼ + 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 EmailThe Fed is definitely taking their dual mandate seriously here, says GenTrust's Mimi DuffMimi Duff, GenTrust managing director, joins 'Squawk Box' to discuss the Fed's interest rate decision this week, what was behind the central bank's decision to cut by 50 basis points, state of the economy, and more.

Persons: Mimi Duff Mimi Duff, GenTrust

☆ Harvard's Jason Furman on the Fed's interest rate decision, Harris vs. Trump's economic policies
▼ + 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 EmailHarvard's Jason Furman on the Fed's interest rate decision, Harris vs. Trump's economic policiesJason Furman, Harvard Kennedy School professor and former CEA chair, joins 'Squawk Box' to discuss the Fed's inflation fight, what was behind the central bank's 50 basis point cut, state of the economy, 2024 election, Harris vs. Trump's economic agendas, and more.

Persons: Jason Furman, Harris Organizations: Harvard Kennedy School, CEA

☆ Turkey central bank keeping rates on hold was 'the right call,' East Capital Group 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 EmailTurkey central bank keeping rates on hold was 'the right call,' East Capital Group saysEmre Akcakmak, head of frontier markets at East Capital Group, discusses the Turkish central bank's decision to keep its main interest rate steady at 50%.

Persons: Emre Akcakmak Organizations: East Capital Group Locations: Turkey, Turkish

Read previewThe new AI iPhone is officially available in Apple stores, hitting shelves in almost 60 countries around the world on Friday. The iPhone 16 is the first phone to launch in Apple's new era of artificial intelligence. Although the iPhone 16 won't come straight out of the box with Apple Intelligence, it's one of only two iPhone generations that's compatible with the software. They had pre-ordered the iPhone 16 for themselves and their friends. AdvertisementQueues outside Apple store in Singapore 1 hour into store opening.

Persons: —, there's, Shubhangi Goel, Apple Organizations: Service, Apple, Apple Intelligence, Business, Control, BI, Orchard, Samsung, Huawei, Apple Watch, Lines, Regent, Apple's Regent Locations: Orchard, Singapore, Vietnam, Sri Lanka, India, London, Apple's, Covent Garden, Covent, Europe, Mumbai, Hangzhou, China

☆ Big returns before Fed rate cut doesn't mean stocks can't keep rising, history shows
▼ + stars: | 2024-09-20 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Investors don't need to worry that the market got out over its skis on interest rate cuts, according to Bank of America. The S & P 500 rallied to all-time highs this week after the Federal Reserve issued its first interest rate decrease in four years. Said another way, when looking historically, Subramanian found "no relationship" between returns ahead of the Fed's first cut and 12-month forward performance. On top of that, she said the S & P 500 sitting near a 52-week high heading into the cut has mattered "even less." The S & P 500 has climbed 11% on average over the year following an initial rate cute.

Persons: Savita Subramanian, Subramanian, Said Organizations: Bank of America, Federal Reserve

☆ The Fed surprised many investors with a jumbo rate cut this week. It won’t get much easier to predict the next move
▼ + stars: | 2024-09-20 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +6 min

But Wall Street was mostly clueless this week when it came to predicting how big a rate cut the Fed would deliver on Wednesday. The jumbo half-point cut the Fed ultimately rolled out was not at all what traders expected a week ago. Powell: Fed officials ‘left the size of the rate cut open’ ahead of September meetingIn a closely watched speech at the Fed’s annual economic symposium in Jackson Hole, Wyoming, last month, Powell declared “the time has come” to cut interest rates. That data was apparently enough to spur some Fed officials to reconsider their position. “But we do not expect Fed officials to be intentionally opaque,” said Husby.

Persons: Jerome Powell, Powell, ‘, “, Price, Christopher Waller, ”, Powell’s, Thomas Simons, ” Simons, Michelle Bowman, “ We’re, Andrew Husby, Waller, there’s Organizations: New, New York CNN — Federal, Fed, PPI, CNBC, Jefferies, BNP Locations: New York, Jackson Hole , Wyoming

☆ Post-rate cut bubble risks mean investors should buy bonds and gold, Bank of America says
▼ + stars: | 2024-09-20 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +2 min

But that means investors once again exposed to risks of a tech bubble inflating anew. Hartnett says investors should allocate to bonds and gold to hedge bubble risk. But it means investors will have to chase the stock market surge as bubble risks bounce back, he added. AdvertisementHartnett has previously warned of the potential for a tech bubble as investment in AI has soared. Amid further AI investment and easing policy, Hartnett says the best way to position portfolios is with allocations to bonds and gold, which hedge against growth and inflation risks.

Persons: BofA's Michael Hartnett, Hartnett, —, Michael Hartnett Organizations: Service, Federal Reserve, Bank of America, Nvidia, Broadcom, ASML, Meta, Treasury

☆ European markets set to open lower following slew of central bank decisions
▼ + stars: | 2024-09-20 | by ( Karen Gilchrist | ) www.cnbc.com time to read: 1 min

Shoppers on the high street in the Kingston district of London, U.K.LONDON — European markets were poised to open lower Friday as investors digested a slew of central bank rate decisions this week and their impact on the global economy. The U.K.'s FTSE 100 was seen opening 41 points lower at 8,291, Germany's DAX down 59 points at 18,939, France's CAC 2 points lower at 7,604 and Italy's FTSE MIB down 124 points at 33,913, according to IG data. The regional Stoxx 600 closed higher Thursday, after the U.K.'s Bank of England and Norway's Norges Bank both held rates steady, drawing a contrast with the U.S. Federal Reserve's bumper rate cut a day prior.

Persons: Germany's DAX Organizations: LONDON, CAC, Bank of England, Norway's Norges Bank, U.S Locations: Kingston, London, U.S . Federal

☆ My mom died when she was 48. I'm 46, and I'm worried I won't see my kids grow up.
▼ + stars: | 2024-09-20 | by ( Jason Keil | ) www.businessinsider.com time to read: +5 min

I felt a tremendous sense of guilt when my mother unexpectedly died on Christmas Eve in 2004 at the young age of 48. I think some of it stems from the guilt I've felt over her death. "But it's not a given that if your mom or dad died young, you're definitely going to die young." "Guilt is there because our culture does not provide children, especially young ones, with the reason why their parents died," she explains. Soon, she says, I will begin to realize that just because my mother died young doesn't mean I will, too.

Persons: didn't, I've, I'm, Jumoke Omojola, Omojola, doesn't Organizations: Service, Business, Social, National Institutes of Health Locations: Illinois, Kansas City , Missouri

☆ I thought I absolutely hated cruises — but then I went on one of the largest ships in the world
▼ + stars: | 2024-09-20 | by ( Esther Carlstone | ) www.businessinsider.com time to read: +5 min

Read previewIf you'd asked me just a year ago what I thought of cruises, my answer would have been a resounding "meh." One highlight was the high-flying acrobatics show that I still can't believe happened on a cruise ship. The kids' club was a massive perk, tooAs befitting the grand scale of this ship, Wonder of the Seas' kids' club was far more than just a themed room with a babysitter. My little one loved the kids' club so much that she begged for more time there whenever we went to pick her up. I'm a fan of cruises now — and I think the bigger the ship, the betterI loved how many activities the cruise ship had to offer.

Persons: —, you'd, we'd, Brittany Chang, Taylor Swift, I'd Organizations: Service, Business, Royal Locations: Brittany, Royal Caribbean

☆ McDonald’s touchscreen kiosks were feared as job killers. Instead, something surprising happened
▼ + stars: | 2024-09-20 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +6 min

New York CNN —Self-service kiosks at McDonald’s and other fast-food chains have loomed as job killers since they were first rolled out 25 years ago. The kiosks show the unintended consequences of technology in fast-food and retail settings, including self-checkout. Chains are now experimenting with artificial intelligence at drive-thru lanes, and the experience with kiosks holds lessons for them. It raised a familiar refrain that those workers would be replaced by technology, such as self-service kiosks. Fast-food chains and retailers need to do a better job communicating what the potential benefits of kiosks and self-checkout are to consumers and employees, Andrews said.

Persons: New York CNN —, McDonald’s, Robert Lynch, you’ve, Eva Marie Uzcategui, ”, RJ Hottovy, ” Hottovy, — don’t, “, Ed Rensi, Christopher Andrews, Andrews Organizations: New, New York CNN, Subway, Starbucks, Shack, Bloomberg, Getty, Temple University, Labor Department, Drew University Locations: New York, McDonald’s, United States, California

☆ CNBC Daily Open: Markets have finally processed the good news
▼ + stars: | 2024-09-20 | by ( Yeo Boon Ping | ) 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. [PRO] Commodity price movements Stocks have rallied on the back of the Fed's rate cut. The S&P climbed 1.7% to end at 5,713.64, the first time the broad-based index has broken through the 5,700 ceiling. At the end of Washington's song, she croons, "What a difference a day makes / And the difference is you."

Persons: Stocks, it's, Jerome Powell's, Jeff Cox, Dinah Washington, Oppenheimer, Brian Belski, Powell, –, Alex Harring, Fred Imbert, Hakyung Kim, Lisa Kailai Han Organizations: Nasdaq, CNBC, Citi, HSBC, People's Bank of, Bank of, Fed, Dow, Nvidia, Apple, BMO Locations: New York, China, Japan, Asia, People's Bank of China, Bank of Japan, Dinah Washington . Washington

☆ Judge fatally shot in chambers, Kentucky governor says
▼ + stars: | 2024-09-19 | by ( Antonio Planas | Antonio Planas Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +2 min

A district judge in Kentucky was fatally shot in his chambers Thursday afternoon, Gov. "Sadly, I have been informed that a district judge in Letcher County was shot and killed in his chambers this afternoon," the governor wrote on X. Letcher County coroner Perry Fowler told NBC News that Judge Kevin Mullins, 54, was shot and killed. The Letcher County courthouse is in Whitesburg, about 200 miles southeast of Louisville. "Following the deadly shooting in Letcher County, our Office will collaborate with Commonwealth’s Attorney for the 27th Judicial Circuit Jackie Steele as special prosecutors in this case.

Persons: Andy Beshear, Beshear, Perry Fowler, Kevin Mullins, Matt Gayheart, Kevin R, Mullins, Russell Coleman, Jackie Steele, Coleman Organizations: NBC News, Louisville . Kentucky State Police, Judicial, Central High School, Kentucky, Justice, Commonwealth’s Locations: Kentucky, Letcher County, Letcher, Whitesburg, Louisville .

☆ Faces of 726 trans and nonbinary people adorn London’s Trafalgar Square
▼ + stars: | 2024-09-19 | by ( The Associated Press | ) www.nbcnews.com time to read: +1 min

LONDON — An artwork featuring the plaster face casts of hundreds of transgender people went on display Wednesday in London’s Trafalgar Square, where their features will be worn away by London’s wind and rain over the next 18 months. Mexican artist Teresa Margolles’ “Mil Veces un Instante (A Thousand Times in an Instant)” is a 3.3-metric-ton (3.6-US-ton) cube covered in face masks of 726 trans, nonbinary and gender nonconforming people. It’s the latest artwork placed atop the “Fourth Plinth,” a large stone pedestal in the central London square. The new sculpture evokes a Tzompantli, a rack used in Mesoamerican civilizations to display the skulls of captured enemies and sacrifice victims. It pays tribute to one of the artist’s friends, a transgender woman named Karla who was killed in Ciudad Juárez, Mexico, in 2015.

Persons: Teresa Margolles ’, Karla Organizations: Times Locations: London’s, Mexican, London, Ciudad Juárez, Mexico

WASHINGTON — While President Joe Biden’s primary residence is still the White House for another few months, he plans to host world leaders at another home this weekend: his house in Wilmington, Del. NBC News is the first to report that he will host those meetings at his Delaware home. Biden first discussed hosting the summit in his hometown after Kishida brought leaders of the G7 alliance to his hometown of Hiroshima in 2023. “The prime minister is rightly very proud of Hiroshima and his experiences there. Biden has also had each prime minister to the White House for an official state visit, an honor reserved for the closest allies.

Persons: Joe Biden’s, Biden, Anthony Albanese, Narendra Modi, Fumio Kishida, ” John Kirby, Kishida, ” Kirby, —, Kamala Harris Organizations: White House, NBC, Archmere Academy, Anthony Albanese , Indian, Japanese, White, National Security Communications, United Nations General Assembly, Economic Cooperation, U.S Locations: WASHINGTON, Wilmington, Del, Australia, India, Japan, Delaware, Anthony Albanese ,, Hiroshima, South China, New York, U.S, Africa, Angola, Asia, Peru, Brazil

☆ Vermont caps emergency motel housing for homeless, forcing many to leave this month
▼ + stars: | 2024-09-19 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Ap-Live-Blog-Byline-Image.Png | The Associated Press | ) www.nbcnews.com time to read: +5 min

BERLIN, Vt. — This fall, hundreds of the most vulnerable people experiencing homelessness in Vermont must leave state-funded motel rooms where they’ve been living as the state winds down its pandemic-era motel voucher program. The move is prompting outcry from municipal leaders and advocates who say many don’t have a place to go. The biggest exodus — about 230 households — is expected on Thursday when they reach a new 80-day limit stay in the motel rooms that the Legislature imposed starting in July. A new 1,110-room cap on the number of motel rooms the state can use to house those people in the warmer months from April through November also kicked in Sunday. The households will be eligible for motel housing again on Dec. 1 as winter sets in.

Persons: they’ve, Jen Armbrister, I’ve, ” Armbrister, She’s, Bruce Jewett, They’re, I’m, ”, Heidi Wright, Armbrister, Wright, nothing’s, “, William Fraser, Phil Scott, “ It’s, ” Scott, can’t Organizations: U.S . Department of Housing, Urban, Republican Gov Locations: BERLIN, Vt, Vermont, Montpelier, Barre, Berlin, ” Montpelier City, City, Chittenden County, Vermont’s, Burlington

☆ Battleground stocks: Wall Street is completely divided on these controversial names
▼ + stars: | 2024-09-19 | by ( Brian Evans | ) www.cnbc.com time to read: +4 min

Forty-one percent of analysts polled by FactSet have a buy rating on Tesla stock, while 21% have a sell rating. About 43% of analysts surveyed by FactSet maintain a buy rating on IBM stock, but 21% are at a sell. He also noted that the risk-to-reward skew on IBM stock is more balanced, leaving less upside for the stock. IBM YTD mountain IBM stock. Goldman Sachs recently added IBM to its conviction list with a $220 price target, or 2% above where shares closed Wednesday.

Persons: Tesla, TSLA, Wolfe Research's Emmanuel Rosner, Rosner, Morgan Stanley, Adam Jonas, Jonas, Elon Musk, Bernstein's Toni Sacconaghi, Sacconaghi, Goldman Sachs, Jim Schneider, Campbell Soup Organizations: CNBC Pro, FactSet, U.S, automakers, IBM, Pepperidge

☆ Why rate cuts could actually slow the economy instead of sparking growth
▼ + stars: | 2024-09-19 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

The consensus view is that lower rates will stave off a recession by stimulating economic growth through lower borrowing costs. The hidden danger of a double cutHowever, David Kelly of JPMorgan Asset Management warned that lower rates aren't an economic panacea. In fact, the chief global strategist thinks these cuts could, paradoxically, cause the economy to slow in the near term. Advertisement"The important thing to recognize is that cutting interest rates at the start doesn't stimulate the economy at all," Kelly said on CNBC. "There is a J-curve effect; it actually slows the economy because people begin to anticipate those lower rates, so they want to wait for lower rates."

Persons: —, Jim Caron, Claudia Sahm, Jerome Powell, Sahm, Ronald Temple, Kevin Philip of, David Kelly, Kelly, what's, you've, Kelly isn't, it's, they've Organizations: Service, Federal, Business, Fed, Dow Jones, Morgan Stanley Investment Management, CNBC, New Century Advisors, Lazard, Kevin Philip of Bel Air Investment Advisors, JPMorgan Asset Management

☆ China's Navy starts testing a next-generation fighter jet on one of its aircraft carriers
▼ + stars: | 2024-09-19 | by ( Chris Panella | ) www.businessinsider.com time to read: +1 min

China tested a next-generation fighter jet on its CNS Liaoning aircraft carrier. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementChina said it tested its next-generation J-35 fighter jet on one of its aircraft carriers. Footage published by China Central Television last week documented the test, which occurred on the CNS Liaoning aircraft carrier.

Persons: — Organizations: Liaoning, Service, China Central Television, Business Locations: China

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