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☆ 10 things to watch in the stock market Tuesday, including long-awaited China stimulus
▼ + stars: | 2024-09-24 | by ( Jeff Marks | ) www.cnbc.com time to read: +7 min

China related stocks were on the move Tuesday after the People's Bank of China said it will cut interest rates. What the Jefferies downgrade misses is the market is giving Starbucks a pass as Niccol builds his team and makes changes. Truist downgraded Club holding Costco to a hold rating ahead of earnings, which are out after Thursday's close. The analysts still have a hold-equivalent rating on Club holding Home Depot but boosted their price target to $400 per share. China related stocks were on the move Tuesday after the People's Bank of China said it will cut interest rates.

Persons: Brian Niccol, Chipotle, Jefferies, Truist, Salesforce, Piper Sandler, Oppenheimer, Regeneron, Eli Lilly, Pinterest, —, Jeff Marks, Jim Cramer's, Jim Cramer, Jim Organizations: People's Bank of, Starbucks, Jefferies, Costco, Walmart, Analysts, Barclays, Constellation Brands, Oppenheimer, Justice Department, Visa, Bloomberg, Jim Cramer's Charitable, CNBC Locations: China, People's Bank of China, Japan

☆ Kyrsten Sinema says she's 'fairly libertarian' and wants to work in the private sector after leaving the Senate: 'That's where the money comes from'
▼ + stars: | 2024-09-24 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +4 min

Read previewSen. Kyrsten Sinema, the Democratic-turned-independent senator from Arizona, says she's looking forward to a career in the private sector after she leaves the Senate in a few months. "I'm really excited about what's happening in the private sector right now," Sinema said. Sen. Kyrsten Sinema said at @allinsummit that she's "fairly libertarian" and is interested in working in the private sector after she leaves the Senate. "I struggle with the idea of wanting to eliminate the private industry, because that is where the ideas come from," Sinema said. "That's where the innovation comes from, and that's where the money comes from to fund the social programs that are important to protect the vulnerable in our country."

Persons: —, Sen, Kyrsten Sinema, Sinema, we've, they're, pic.twitter.com, SPuAr40NQf — bryan metzger, Jason Calacanis, Joe Biden's, Ruben Gallego, Kari Lake, Sinema's, Mitt Romney Organizations: Service, Democratic, Business, Senate, Infrastructure Law, Democratic Party, Democratic Rep Locations: Arizona, Washington

☆ StackGen uses AI to auto-generate infrastructure from code. Check out the pitch deck the startup used to land a $12.3 million supersized seed round.
▼ + stars: | 2024-09-24 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +1 min

StackGen raised $12.3 million in seed funding led by Thomvest Ventures. The startup uses AI to auto-generate infrastructure from code, boosting developer efficiency. Generative AI is transforming software engineering, with many startups securing large seed rounds. AdvertisementGenerative AI is giving software engineering a massive boost, and one startup just raised a supersized seed round for its tech that uses code to create generative infrastructure. The startup, formerly known as appCD, rebranded to StackGen and raised a $12.3 million seed funding round led by Thomvest Ventures.

Persons: StackGen, — Organizations: Thomvest Ventures, Service, StackGen, FireBolt Ventures, WestWave, Business

☆ TikTok is abandoning its plan to take on Spotify in music streaming
▼ + stars: | 2024-09-24 | by ( Dan Whateley | ) www.businessinsider.com time to read: +4 min

Read previewTikTok is shutting down its music-streaming app, TikTok Music, on November 28. AdvertisementIt's unclear how successful TikTok Music was at building a user base in the five countries where it launched. On Apple's app store, TikTok Music is the 28th most popular music-streaming app in Indonesia and the 71st most popular in Brazil. Why not send those TikTok music fans to a streaming app it owns? Going forward, the company will likely focus on its "Add To Music App" feature, which lets TikTok users add songs or pre-save tracks they hear on TikTok to other streaming services like Spotify, Amazon Music, and Apple Music.

Persons: —, Ole Obermann, TikTok, ByteDance, SiriusXM, hasn't Organizations: Service, Business, TikTok, Universal Music Group, YouTube, Spotify, Amazon Music, Apple Music Locations: Indonesia, Brazil, Singapore, Australia, Mexico, India

☆ Caroline Ellison is a math whiz, trader, and shadow figure behind FTX's collapse. She's being sentenced for her role in the fraud case.
▼ + stars: | 2024-09-24 | by ( Lakshmi Varanasi | Grace Dean | Huileng Tan | ) www.businessinsider.com time to read: +1 min

Caroline Ellison was the CEO of Alameda Research, a trading firm launched by Sam Bankman-Fried. She oversaw bets Alameda took with customer funds. She will be sentenced for her role in the fraud case on Tuesday. In August 2022, Ellison became the head of Alameda Research, Bankman-Fried's trading firm that was closely intertwined with his fallen crypto exchange, FTX. By November, as FTX swiftly spiraled into bankruptcy, Ellison began to draw attention for her role in overseeing the risky bets Alameda took with customers' funds.

Persons: Caroline Ellison, Sam Bankman, —, Ellison, FTX Organizations: Alameda Research, Alameda, Service, Business

☆ Stocks and bonds are at odds on what happens next after Fed rate cut
▼ + stars: | 2024-09-24 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

For the third quarter, the S & P 500 has popped 4.7%, while the Dow is higher by 7.7%. "The bond market has the fed funds rate being cut below 3% in 2025," Johnston, the firm's head of derivatives and cross asset strategy, wrote in a note Monday. On Monday, S & P Global said its U.S. manufacturing purchasing managers' index fell to a 15-month low in September — while its services sector gauge showed expansion. He likes put spreads on the SPDR S & P 500 ETF Trust (SPY) expiring Oct. 31. If history is any guide, it'll most likely be the bond market.

Persons: Cantor Fitzgerald's Eric Johnston, Johnston Organizations: Dow Jones, Federal Reserve, Dow, P Global, Trust Locations: —

Now that the Fed has cut rates, mortgage rates have generally held steady. 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. Current 30-Year Mortgage RatesAverage 30-year mortgage rates have been holding steady at around 5.70%, according to Zillow 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. Now that the Fed has cut rates, mortgage rates may not drop further for the rest of the month.

Persons: you'll, Freddie Mac, it's, they've Organizations: Federal, Zillow, Fed Locations: Chevron

☆ Morgan Stanley outlines the best-case scenario for stocks in the 4th quarter
▼ + stars: | 2024-09-24 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

Morgan Stanley is now looking ahead at the perfect mixture of conditions for a strong fourth quarter. The firm is squarely focused on an improvement in the labor market driving the best possible returns. AdvertisementThe Federal Reserve nailed the rate-cut scenario that Morgan Stanley called its best-case result leading into the decision. Heading into last week's announcement, Morgan Stanley was looking for a 50-basis-point cut that didn't also stoke worries about unnecessary growth. To be sure, job conditions are not the only thing Morgan Stanley is watching.

Persons: Morgan Stanley's, Morgan Stanley, —, didn't, Mike Wilson, Wilson Organizations: Federal, Service, Reserve, stoke, Bank of America, Conference Board

☆ Sam Altman says doing psychedelics during a weekend retreat in Mexico changed his life
▼ + stars: | 2024-09-24 | by ( Ana Altchek | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewSam Altman, the tech CEO behind ChatGPT, is also a big supporter of psychedelics. OpenAI cofounder shared some personal anecdotes in a recent appearance on the podcast "Life in Seven Songs," saying that doing psychedelics was one of the most transformative experiences of his life. Altman said psychedelic experiences can be "totally incredible," and for him, they've been life-altering. AdvertisementThe CEO didn't specify which psychedelics he used, but he said the experience changed him in a lot of ways.

Persons: —, Sam Altman, Altman, they've, Colab, Elon Musk, Steve Jobs, Peter Thiel, psychedelics, Oregan Organizations: Service, Business, PayPal, YouGov Locations: Mexico, Denver , Colorado, Oakland , California

☆ Mark Zuckerberg is now worth $200 billion, putting the Meta CEO in the world's most exclusive club
▼ + stars: | 2024-09-24 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Mark Zuckerberg is one of only three people in the ultra-exclusive $200 billion club. The Meta CEO has joined Elon Musk and Jeff Bezos after a $72 billion wealth surge this year. Bezos' net worth rebounded above $200 billion, while LVMH's Bernard Arnault crashed out of the club. AdvertisementMark Zuckerberg just joined a club that's even more exclusive than the $100 billion club. Zuckerberg has made the cut following an unmatched $72 billion increase in his wealth to $200 billion this year.

Persons: Mark Zuckerberg, Elon Musk, Jeff Bezos, LVMH's Bernard Arnault, —, Zuckerberg, That's Organizations: Elon, Service, Amazon, Bloomberg, Business

☆ China just released aggressive measures to boost its economy — but some analysts say it's still not enough
▼ + stars: | 2024-09-24 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

"Today's policy measures are bold by historical standards," Betty Wang, the lead economist at Oxford Economics, wrote in a note on Tuesday. Stimulus measures don't address consumptionDespite the fanfare, analysts are divided over whether the moves that ease monetary policy constitute a massive "bazooka" stimulus. AdvertisementMost say the monetary easing policies don't address the lack of confidence contributing to depressed consumer spending. China has pulled out multiple support measures this year to shore up its economy and stock markets, but any kneejerk optimism has been shortlived. Advertisement"Overall, we feel today's measures are a step in the right direction, especially as multiple measures have been announced together rather than spacing out individual piecemeal measures to a more limited effect," Lynn Song, the Greater China chief economist at ING bank, wrote on Tuesday.

Persons: —, Pan Gongsheng, Pan, Betty Wang, Wang, it's, Nomura, Lynn Song Organizations: Service, People's Bank of China, Business, Analysts, Oxford Economics, CSI, Nomura, ING Locations: Beijing, China, Greater China

☆ 'We have much more on the way, if they will continue,' Israel's president says as death toll from Lebanon attack tops 550
▼ + stars: | 2024-09-24 | by ( Natasha Turak | ) www.cnbc.com time to read: +4 min

Asked if Israel will launch a full-scale ground operation in Lebanon, Herzog insisted that his country did not want war. watch nowHezbollah has continued firing rockets into northern Israel since the attack, most of which have landed in open areas or been intercepted by air defenses. On Saturday, the group launched a salvo of more than 100 missiles into northern Israel, wounding at least five people, Israeli authorities said. Lebanon's health ministry said Israel's strikes on Monday killed at least 558 people, including 50 children, and injured more than 1,800. Israel's leaders have vowed that evacuated residents of northern Israel will be able to return to their homes.

Persons: Isaac Herzog, stoking, Herzog, CNBC's Dan Murphy, Rabih Daher, Antonio Guterres, Guterres, Joe Biden Organizations: Hezbollah, Afp, Getty, 79th United Nations General Assembly, Pentagon, Ibrahim Amro Locations: Israel, Lebanon, Iranian, Lebanese, Gaza, Marjayoun, Beirut, New York, U.N, U.S, The U.S, Damour, Ibrahim

☆ All 33 Sebastian Stan movies, ranked by critics
▼ + stars: | 2024-09-24 | by ( Gabbi Shaw | ) www.businessinsider.com time to read: +1 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. He got his start on TV playing roles like Carter Baizen in "Gossip Girl," TJ Hammond in "Political Animals," and the Mad Hatter in "Once Upon a Time." This story is available exclusively to Business Insider subscribers. Thirteen years later, Stan is still playing Bucky, aka the Winter Soldier — "Thunderbolts" is out in 2025 — and has appeared in multiple billion-dollar films in the role. Here's how critics have received all 33 of Stan's films throughout his career.

Persons: —, Sebastian Stan, Carter, TJ Hammond, Bucky Barnes, Steve Rogers, America, Stan, Bucky, He's, Tommy Lee, Pam, Tommy Organizations: Service, Business Locations: Hollywood

☆ Mark Cuban says Trump's call for 200% tariffs on John Deere tractors is 'insane' and a 'good way to destroy a legendary American company'
▼ + stars: | 2024-09-24 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

Read previewBillionaire investor Mark Cuban doesn't think former President Donald Trump's call for 200% tariffs on agriculture equipment company John Deere is a good idea. Cuban was weighing in on the 200% tariff that Trump said he would impose on John Deere. But imposing such a hefty tariff on John Deere, Cuban said, would be counterproductive. But tariff Chinese manufacturers 10 or 20%, so that the Chinese products will be cheaper to sell in the US than the American company," Cuban wrote on X.Advertisement"Good way to destroy a legendary American company and increase costs to American buyers," he continued. AdvertisementCuban and representatives for Trump and John Deere did not immediately respond to requests for comment from Business Insider sent outside regular office hours.

Persons: —, Mark Cuban doesn't, Donald Trump's, John Deere, Cuban, Trump, they've, I'm, Kamala Harris, Harris, CNBC's, I've, Andrew Ross Sorkin, She's, Maria Bartiromo, Bartiromo Organizations: Service, Cuban, Trump, Business, Democratic, Fox News, Business Insider Locations: Smithton , Pennsylvania, Mexico, United States, Dubuque , Iowa, Ramos, American, China

☆ Amazon cut a popular remote-work benefit months before its strict new RTO rule kicks in
▼ + stars: | 2024-09-24 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +1 min

Amazon corporate employees must return to an office five days a week starting January. Amazon updated its policy to immediately end a remote work benefit for most employees. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . But the company just ended a popular remote-work benefit months before that. Last week, the company radically altered this approach by requiring all corporate employees to work in an office five days a week starting next year.

Persons: — Organizations: Staff, Service, Amazon, Business

☆ Stock market today: New record highs as Nvidia surge offsets weak consumer sentiment
▼ + stars: | 2024-09-24 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

A weak consumer confidence reading caused indexes to briefly drop early morning. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Investors reacted with dismay after the latest consumer sentiment reading, with confidence among US consumers logging its largest one-month drop in more than three years. The Conference Board's consumer confidence index came in at 98.7 for September, well below consensus estimates of a 104 reading. Advertisement"It's never good to see consumer confidence fall this much.

Persons: —, Jamie Cox, Jensen Huang Organizations: Nvidia, Service, Harris Financial, Federal Locations: China

☆ China's auto stocks rise unfazed by U.S. proposal to ban Chinese car parts
▼ + stars: | 2024-09-24 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

Rows of new energy vehicles are parked at Changan Automobile's vehicle distribution center in Chongqing, China, on January 14, 2024. Shares of Chinese automakers climbed Tuesday, shrugging off a U.S. government proposal to ban certain types of vehicles equipped with car parts from China and Russia, amid a broad rally after Beijing announced policy easing. The Joe Biden administration has cited national security risks for its latest measure aimed at curbing Chinese auto industry's influence and reach in the U.S."Cars today have cameras, microphones, GPS tracking, and other technologies connected to the internet. U.S. proposal to ban Chinese auto parts may not have a direct negative impact on the Chinese auto industry as the sales volume of Chinese auto exports to the U.S. markets are "very small" and limited, Wu said. Additionally, Chinese parts companies have already set up factories in South America, which can be exported directly to U.S. markets under the U.S.-Mexico Tariff Agreement, he added.

Persons: shrugging, Li, Nio, Leapmotor, Joe Biden, Gina Raimondo, Ivan Wu, Pan Gongsheng, Wu Organizations: Beijing, Guotai, People's Bank of China Gov, U.S, China Automobile Dealers Association Locations: Chongqing, China, U.S, Russia, Hong Kong, South America, Mexico

☆ Ina Garten used to make this easy apple cake at her Barefoot Contessa store. It's the perfect fall dessert.
▼ + stars: | 2024-09-24 | by ( Anneta Konstantinides | ) www.businessinsider.com time to read: +1 min

I made Ina Garten's fresh apple spice cake, her most fall-friendly dessert. Go to newsletter preferences Thanks for signing up! AdvertisementFrom her delightfully bright breakfast cake to her "outrageous" brownies, Ina Garten always delivers a delicious dessert — I've even ranked them. And when I stumbled on Garten's fresh apple spice cake, I knew I had to try it. Garten demonstrated the cake on an early episode of "Barefoot Contessa," revealing she used to make it at the Hamptons food store that helped launch her cooking career.

Persons: Ina, Smith, —, Ina Garten, Garten Organizations: Service, Hamptons, Business

☆ The stock market rally risks sparking an unsustainable 'melt-up' as the economy overheats, market vet Ed Yardeni says
▼ + stars: | 2024-09-24 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The stock market runs a bigger risk of an unsustainable melt-up, according to Ed Yardeni. AdvertisementStocks run the risk of seeing an unsustainable, dot-com style melt-up, thanks to the Federal Reserve's recent rate cut, according to market veteran Ed Yardeni. That move sparked a rally in stocks to fresh records —but it's also raised the odds of a stock market melt-up, he said, meaning investors are now facing the risk of an unsustainable market boom. And while inflation has cooled from its highs several years ago, it is still a risk, Yardeni noted. Advertisement"If they get to overheat the economy and get to create a bubble in the stock market, yeah they're creating some issues," Yardeni added.

Persons: Ed Yardeni, —, Stocks, it's, Yardeni, Michelle Bowman, haven't Organizations: Service, Bloomberg, Yardeni, Labor Department, Atlanta Fed

☆ Diddy and crypto fraudster SBF are sharing a dorm-style room in a Brooklyn jail
▼ + stars: | 2024-09-24 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +1 min

Rapper Sean Combs and crypto fraudster Sam Bankman-Fried are sleeping in the same jail dormitory. Combs, known as Diddy, has been in the Brooklyn jail since last week on sex trafficking charges. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementCrypto fraudster Sam Bankman-Fried just got a new roommate. Combs has been held at Metropolitan Detention Center for almost a week after being denied bail on federal sex trafficking and racketeering charges.

Persons: Sean Combs, Sam Bankman, Combs, —, Crypto, Fried, Diddy Organizations: Service, Metropolitan Detention Center, Business Locations: Brooklyn

☆ GLP-1 demand is going to remain higher than supply for foreseeable future, says BMO's Evan Seigerman
▼ + stars: | 2024-09-24 | 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 EmailGLP-1 demand is going to remain higher than supply for foreseeable future, says BMO's Evan SeigermanEvan Seigerman, BMO senior analyst, joins 'Closing Bell Overtime' to talk today's Capitol Hill hearing with Novo Nordisk's CEO and the demand for weight-loss drugs.

Persons: BMO's Evan Seigerman Evan Seigerman Organizations: BMO, Novo Nordisk's

☆ I spent years closeted at work. During a job interview I chose to come out, and the support I got was better than a dream job.
▼ + stars: | 2024-09-24 | by ( Jacqueline Lieske | ) www.businessinsider.com time to read: +1 min

During a job interview I was asked what the company needed to do to keep me. I played back in my head all the times that I was told to stay closeted so as to not be judged. 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 . The conversation flowed until they asked the most astounding question of my career:This story is available exclusively to Business Insider subscribers.

Persons: — Organizations: Service, Business

☆ Zelenskyy attacked JD Vance for being 'too radical' and recommended he 'read up on the history of the Second World War'
▼ + stars: | 2024-09-24 | by ( Joshua Nelken-Zitser | ) www.businessinsider.com time to read: +3 min

Read previewUkrainian President Volodymyr Zelenskyy criticized Ohio Sen. JD Vance as being "too radical" and recommended that he read up on World War II in an interview with The New Yorker. In exchange, Vance said, Ukraine would need to guarantee it wouldn't join NATO or other "allied institutions." AdvertisementIn his interview with The New Yorker, Zelenskyy dismissed this as an "awful idea" and "just sloganeering." Advertisement"Let Mr. Vance read up on the history of the Second World War, when a country was forced to give part of its territory to one particular person," he told The New Yorker. In the interview, Zelenskyy also addressed Trump's repeated claims that he could end the war between Russia and Ukraine within 24 hours, despite his failing to present a specific plan.

Persons: —, Volodymyr Zelenskyy, Ohio Sen, JD Vance, Zelenskyy, Donald Trump's, Vance, Trump, wouldn't, Mr, Adolf Hitler, Hitler, Trump's Organizations: Service, Ohio, Business, NATO, New, Trump Locations: Ukraine, Russia, Ukrainian, Europe

☆ Zelenskyy called JD Vance 'too radical' and recommended he 'read up on the history of the Second World War'
▼ + stars: | 2024-09-24 | by ( Joshua Nelken-Zitser | ) www.businessinsider.com time to read: +3 min

☆ CNBC Daily Open: Fedspeak reassures markets
▼ + stars: | 2024-09-24 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 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. Markets regain momentumU.S. markets rose Monday, with the S&P 500 and Dow Jones Industrial Average notching fresh closing highs. Asia-Pacific stocks mostly climbed Tuesday, with the Chinese and Hong Kong markets popping over 3% on Beijing's announcement of policy easing measures. PBOC policy easingThe People's Bank of China Governor Pan Gongsheng on Tuesday announced a cut to banks' reserve requirement ratio.

Persons: Neel Kashkari, The Beverly Hilton, Pan Gongsheng Organizations: Federal Reserve Bank of Minneapolis, The Beverly, CNBC, Dow Jones, People's Bank of China, Boeing, Tech, Big Tech, Companies, Nomura Locations: Beverly Hills , California, U.S, Asia, Pacific, Hong Kong, China, Beijing

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