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MEXICO CITY (AP) — California avocado growers are fuming this week about a U.S. decision to hand over pest inspections of Mexican orchards to the Mexican government. Because the United States also grows avocados, U.S. inspectors observe orchards and packing houses in Mexico to ensure exported avocados don’t carry pests that could hurt U.S. crops. The letter added, "We are looking for specifics as to why you have concluded that substituting APHIS inspectors with Mexican government inspectors is in our best interest." Only the states of Michoacan and Jalisco are certified to export avocados to the United States. Some packers in Mexico buy avocados from other, non-certified states, and try to pass them off as being from Michoacan.

Persons: Tom Vilsack, “ Organizations: MEXICO CITY, U.S . Department of Agriculture, U.S . Department of Agriculture’s, Plant Health, Service, Mexico's Agriculture Department, U.S, packers, The U.S . Department of Agriculture, Growers, Associated Press Locations: MEXICO, California, Mexico, U.S, United States, Michoacan, Jalisco, The, America, Caribbean

☆ Stocks making the biggest moves midday: Visa, Smartsheet, JD.com and more
▼ + stars: | 2024-09-24 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

Smartsheet — Shares surged more than 6% after Blackstone and Vista Equity Partners agreed to buy the software maker for $56.50 a share in cash, or about $8.4 billion . Unless another offer is made, the deal is expected to close by January 2025, pending shareholder approval. China stocks — Shares of Chinese companies soared after China's central bank unveiled a host of stimulus measures . Thor earned $1.68 per share on $2.53 billion in revenue in its fiscal fourth quarter. Flowserve — The stock moved nearly 5% higher after Bank of America reiterated a buy rating, saying its exposure to nuclear power is "underappreciated."

Persons: Alibaba, Li, Thor, LSEG, Morgan Stanley, BioNTech, Guggenheim, Joseph, Alex Harring, Samantha Subin, Lisa Kailai Han, Jesse Pound, Sarah Min Organizations: Bloomberg, Justice Department, Blackstone, Vista Equity Partners, JD.com, PDD Holdings, Li Auto, Thor Industries, Arlo Technologies, Bank of America, GE, Joseph Osha Locations: —

☆ Caroline Ellison could face no jail time for role in FTX collapse
▼ + stars: | 2024-09-24 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +2 min

Caroline Ellison, former chief executive officer of Alameda Research LLC, center, arrives at court in New York, US, on Tuesday, Oct. 10, 2023. Caroline Ellison was the star witness in the criminal case against disgraced FTX founder Sam Bankman-Fried. Bankman-Fried and Ellison are both, in the eyes of the U.S. judicial system, guilty of the same crimes. Two counts of wire fraud, two counts of conspiracy to commit wire fraud, one count of conspiracy to commit securities fraud, one count of conspiracy to commit commodities fraud, and one count of conspiracy to commit money laundering. Unlike Bankman-Fried, Ellison agreed to a plea deal in December 2022.

Persons: Caroline Ellison, Sam Bankman, Fried, Ellison Organizations: Alameda Research, CNBC Locations: New York

☆ Seeing no US recession as equity market rally broadens out: CIO
▼ + 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 EmailSeeing no US recession as equity market rally broadens out: CIOPrashant Bhayani of BNP Paribas Wealth Management says U.S data paints a mixed picture but do not signal a recession, as equity markets continue to rally and credit spreads remain tight.

Persons: Prashant Bhayani Organizations: BNP, Wealth Management

☆ Here are Tuesday's biggest analyst calls: Nvidia, Apple, Walmart, Salesforce, Starbucks, Amazon & more
▼ + stars: | 2024-09-24 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are Tuesday's biggest calls on Wall Street: Piper Sandler initiates Colgate-Palmolive and Church & Dwight as overweight Piper said both consumer products company offer an attractive risk/reward. Piper Sandler upgrades Salesforce to overweight from neutral Piper said it sees an attractive risk/reward for the stock. Bernstein reiterates Amazon as outperform Bernstein said advertising is "key to the bull case once again" for Amazon. Wedbush upgrades Comerica to outperform from neutral The firm added the regional bank to its best ideas list. " CFRA reiterates Nvidia as buy The firm says it sees Nvidia with "sustained compute demand" over the coming years.

Persons: Piper Sandler, Dwight, Piper, Baird, Jefferies, it's bullish, Raymond James reinstates Uber, Raymond James, Goldman Sachs, Goldman, KeyBanc, Morgan Stanley, immuno, Oppenheimer, Lowe's, Redburn, it's, Truist, Baird downgrades McKesson, Needham, Apple, Pinterest, Leerink, Guggenheim, Tesla, TSLA, Bernstein, CFRA Organizations: Colgate, Palmolive, Church, Jefferies, Starbucks, Avidity Biosciences, BP, Exxon, Costco, Walmart, Apple, GE Vernova, UBS, Citi, Mastercard, Visa, U.S, DOJ, Comerica, CMA, Nvidia

☆ 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

☆ Watch CNBC's full interview with Sec. Raimondo on national security threats, Chinese connected cars and more
▼ + 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 EmailWatch CNBC's full interview with Sec. Raimondo on national security threats, Chinese connected cars and moreMorgan Brennan sits down with Commerce Secretary Gina Raimondo for an exclusive interview. Secretary Raimondo discusses efforts to address national security risks posed by Chinese-made vehicles and software, the department's implementation of the CHIPS Act to boost domestic semiconductor manufacturing, and the importance of maintaining U.S. leadership in the field of artificial intelligence.

Persons: Sec, Raimondo, Morgan Brennan, Gina Raimondo

☆ OpenAI just launched advanced voice mode for audio chats with ChatGPT. Here's how to use it
▼ + stars: | 2024-09-24 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

OpenAI said Tuesday that its popular chatbot now has an advanced voice feature for people who pay for the premium service. Legal counsel working on behalf of Johansson sent OpenAI letters claiming the company didn't have the right to use the near-identical voice, and OpenAI paused using it in its products, CNBC reported. OpenAI got a head start in the generative AI chatbot market, when it launched ChatGPT in late 2022. The advanced mode is only available to those with subscriptions to OpenAI's Plus, Team or Enterprise plans. The most affordable option is the Plus tier at $20 per month.

Persons: ChatGPT, OpenAI, it's, Scarlett Johansson, Johansson, Sam Altman, OpenAI's, It's Organizations: OpenAI, CNBC, Microsoft, Google, Reuters, Meta, Facebook, Enterprise Locations: Iceland, Liechtenstein, Norway, Switzerland

☆ U.S. Steel CEO defends sale to Nippon, says deal will 'win on its merits'
▼ + stars: | 2024-09-24 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. Steel CEO defends sale to Nippon, says deal will 'win on its merits'U.S. Steel CEO David Burritt joins 'Money Movers' to discuss the company's growth strategy, a possible merger with Nippon, and more.

Persons: David Burritt Organizations: U.S . Steel, Nippon, . Steel

☆ China bond yields hit record low after PBOC signals more easing
▼ + stars: | 2024-09-24 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

A man walks past the People's Bank of China (PBOC) building on July 20, 2023 in Beijing, China. (Photo by Jiang Qiming/China News Service/VCG via Getty ImagesChina bond yields fell to a record low after the People's Bank of China on Tuesday announced that it would cut the reserve requirement ratio for banks. Yield on China's 10-year government bonds fell 3.75 basis points to 2.043%, data from LSEG showed, marking a record low. 30-year bond yields also dropped to a record low of 2.168%. In recent months, insurance companies and institutional investors have flocked to China's bond market, partly due to limited investment opportunities available.

Persons: Jiang Qiming, Pan Gongsheng, Pan Organizations: People's Bank of China, China News Service, Getty Images, PBOC, U.S . Federal Reserve Locations: Beijing, China, Getty Images China, LSEG

Take a look below at the stocks we found that have formed golden cross patterns, according to FactSet data. McDonald's McDonald's made the screen. Goldman Sachs on Monday reiterated its neutral rating but lifted its price target on McDonald's shares by $41 to $325, which implies 8.7% potential upside. Cisco Systems Cisco Systems shares are up about 3.8% this year and made the cut. Analysts polled by FactSet have an average price target of $83.79, which forecasts less than 1% upside for shares according to Monday's close.

Persons: Dow, McDonald's McDonald's, McDonald's, Goldman Sachs, Christine Cho, Pierre Ferragu, Monday's, Wells, Wells Fargo Organizations: McDonald's, Cisco Systems, Nasdaq, Cisco Systems Cisco Systems, CF Industries, FactSet Locations: Monday's, Wells Fargo

☆ 'Childless cat lady' is a more common lifestyle choice. Here's what being child-free means for your money
▼ + stars: | 2024-09-24 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

The stigma of the "childless cat lady" persists, but these days, more young adults are embracing that label and opting out of parenthood — and benefitting, at least monetarily. Nearly a quarter, or 23%, of millennials and Generation Zers without children do not plan on having children, primarily due to financial reasons, according to a recent consumer spending and saving index by MassMutual. A preference for financial freedom and the inability to afford children are equally cited by 43% of younger generations, MassMutual found. Since the 1970s, the overall share of married adults has declined and fewer couples are having children, according to a 2023 report from Pew Research Center. Although there is a financial benefit, "it's not like you are child-free and checks fall out of the sky," said Jay Zigmont, author of "The Childfree Guide to Life and Money."

Persons: Taylor Swift, Kamala Harris, MassMutual, Pew, Jay Zigmont Organizations: Democratic, Finance, Pew Research Center Locations: Bath, England, U.S

☆ UK Prime Minister Keir Starmer says tough times are needed to spark national renewal
▼ + stars: | 2024-09-24 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +5 min

Prime Minister Sir Keir Starmer during an 'In Conversation' event with Debbie Weinstein, managing Director Goole UK&I during the Labour Party Conference at the ACC Liverpool. Liverpool, ENGLAND — U.K. Prime Minister Keir Starmer insisted on Tuesday that tough decisions taken now will spark a new era for Britain, as he sought to shake a fog of pessimism that has clouded his new premiership. "Change must mean nothing less than national renewal," he told a crowd of Labour Party delegates Tuesday. Wes Streeting, minister for health and social care, said that promised improvements to the U.K.'s National Health Service (NHS) would take time to implement. We need to rebuild the economy, rebuild public services and rebuild trust in politics," he said at the conference Monday.

Persons: Sir Keir Starmer, Debbie Weinstein, Keir Starmer, Starmer, Jeremy Corbyn, Rachel Reeves, Reeves, Wes Streeting, Tulip Siddiq Organizations: Goole, Labour Party Conference, ACC Liverpool, Labour Party, Conservative, Wealth Fund, Finance, National Health Service, Treasury, Labour, CNBC, Conservative Party Locations: Liverpool, ENGLAND, Britain, England

The Chinese central bank's largest stimulus measures since Covid should provide the world's second-largest economy with a much-needed boost, which should help our portfolio companies doing business there. The Club has a broad range of companies with significant sales exposure to China, and some with none. Here's a look at the percentages in our 32 stock portfolio, as well as recent earnings call commentary, about the business climate and the potential in China. On the industrial side, DuPont has the most China exposure because of its electronics and water businesses. Eaton and Dover don't have nearly as much China exposure.

Persons: Donald Trump, Kamala Harris, Biden, Colette Kress, Tim Cook, Brian Niccol, Gamble, Andre Schulten, Peter Arduini, Lori Koch, Stanley Black, —, Jeff Marks, Jim Cramer's, Jim Cramer, Jim, Peng Organizations: People's Bank of China, Wall, Commodities, Republican, House, Democratic, Trump, Broadcom, Nvidia, AMD, Nvidia's, Apple, Starbucks, Investors, Huawei, Jefferies, Consumer, Procter, Barclays, GE Healthcare, GE, DuPont, Banking, Coterra Energy, Investing, Jim Cramer's Charitable, CNBC Locations: Asia, China, America, U.S, Eaton, Dover, People's Republic of China

The international poverty line, which the U.N. uses to measure global poverty, is very low. The international poverty line is valuable because it has succeeded in drawing the world’s attention to the extreme poverty of the world’s very poorest people. But to end poverty in all its forms everywhere, studying this poverty line alone is not enough. One way to see whether this higher poverty line is reasonable is to check whether it aligns with established national poverty assessments. For this, we need an appropriately ambitious poverty line that receives the same attention as the low international poverty line.

Persons: Michail Moatsos, ”, Lant Pritchett, Lyndon Johnson Organizations: The New York Times, Getty Images, United Nations General Assembly, Democratic, Bank, World Bank Locations: adulthood.Today, New York City, Mozambique, Democratic Republic of Congo, ”, Bolivia, Nigeria, India, United States, Denmark, Switzerland, Netherlands, Norway

☆ Watch: Biden speaks at the United Nations General Assembly in New York
▼ + stars: | 2024-09-24 | by ( Josephine Rozzelle | ) www.cnbc.com time to read: 1 min

[The stream is slated to start at 10:00 a.m. Please refresh the page if you do not see a player above at that time.] President Joe Biden addresses the United Nations General Assembly for the final time in his presidency, with a speech that will attempt to tout his administration's foreign policy achievements against a backdrop of ongoing wars in the Middle East, Ukraine and Sudan. Vice President Kamala Harris, the Democratic nominee, and her Republican opponent, former President Donald Trump, are also set to meet with foreign leaders visiting the U.S. for the U.N. events this week.

Persons: Joe Biden, Kamala Harris, Donald Trump Organizations: United Nations General Assembly, Democratic, Republican Locations: East, Ukraine, Sudan

☆ More than 400 economists, former White House advisors endorse Harris, warn against Trump policy agenda
▼ + stars: | 2024-09-24 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

Democratic presidential nominee and Vice President Kamala Harris speaks to members of the media upon her arrival at Joint Base Andrews in Maryland on Sept. 22, 2024. More than 400 economists and former White House policy advisors announced their support for Vice President Kamala Harris over former President Donald Trump in an open letter Tuesday. "It is a choice between inequity, economic injustice, and uncertainty with Donald Trump or prosperity, opportunity, and stability with Kamala Harris." Some on the list, such as Biden's former National Economic Council Director Brian Deese, have already been advising the Harris campaign behind closed doors. Sean O'Keefe was deputy director of the Office of Management and Budget in former President George W. Bush's White House.

Persons: Kamala Harris, Donald Trump, Joe Biden, Barack Obama, Bill Clinton, Jason Furman, Roger Altman, Clinton, Penny Pritzker, Obama, Alan Blinder, Brian Deese, Harris, Sean O'Keefe, George W, Bush's, Phillip Braun, Ronald Reagan's Organizations: Democratic, Base Andrews, White, Republicans, Harvard, of Economic, Obama, Federal Reserve, Federal Trade Commission, Consumer Financial, Bureau, CNN, Economic, Republican, Management, Economic Advisers Locations: Maryland, U.S

☆ Oil prices rise on concerns of wider Middle East conflict, U.S. storm
▼ + stars: | 2024-09-24 | by ( ) www.cnbc.com time to read: +2 min

Oil prices rose on Tuesday on concerns the intensifying conflict between Israel and Hezbollah may impact supply in the key Middle East producing region and a tropical storm may impact output in the U.S., the world's biggest crude producer, later this week. Oil prices rose on Tuesday on concerns the intensifying conflict between Israel and Hezbollah may impact supply in the key Middle East producing region and a tropical storm may impact output in the U.S., the world's biggest crude producer, later this week. Brent crude futures for November were up 21 cents, or 0.3%, at $74.11 a barrel at 0030 GMT. "The oil market has been concerned that rising tensions in the region were dragging the OPEC oil producer closer to engagement," said ANZ bank said in a note, referring to Iran. U.S. oil producers were evacuating staff from Gulf of Mexico oil production platforms as forecasters predicted the second major hurricane in two weeks could tear through offshore oil producing fields.

Organizations: Brent, Hezbollah, ANZ, U.S, National Hurricane Center Locations: Israel, U.S, Lebanon, Iranian, Hamas, Gaza, Iran, Gulf Coast, Gulf, Mexico, Cuba

☆ Energy Secretary Granholm: There's been $500B worth of investment in clean energy since IRA passage
▼ + 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 EmailEnergy Secretary Granholm: There's been $500B worth of investment in clean energy since IRA passageU.S. Energy Secretary Jennifer Granholm joins ‘Squawk on the Street’ to discuss the future of U.S. energy sourcing and pricing, state of renewable production, increased energy demand to power AI, and more.

Persons: Granholm, There's, Jennifer Granholm, ‘ Squawk Organizations: Email Energy, U.S, Energy

☆ Microsoft's GitHub gives clients option to keep sensitive code in EU only, in data sovereignty push
▼ + stars: | 2024-09-24 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

Firms will be able to control the "data residency" of software code stored on GitHub — effectively meaning they can decide which regions the data is kept in. GitHub Enterprise Cloud is a paid product the firm only offers to businesses. "The EU has been in the center of this [data residency] movement since the beginning of the cloud days." Going forward, GitHub plans to roll out data residency within its GitHub Enterprise Cloud across other regions, including Australia, Asia, and Latin America. EU push for digital 'sovereignty'GitHub's data residency push ties into a broader political and regulatory theme within the EU around so-called digital "sovereignty."

Persons: GitHub, Jonathan Raa, —, Thomas Dohmke, Dohmke, Shelley McKinley, Mario Draghi, Draghi, GitHub's Dohmke, it'll Organizations: Microsoft, Nurphoto, Getty Images Microsoft, European Union, EU, Companies, CNBC, European Central Bank Locations: Europe, Australia, Asia, America, EU, China, France, Finland

☆ CNBC Daily Open: Vaguely reassuring Fedspeak
▼ + stars: | 2024-09-24 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Michael Nagle | Bloomberg | 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. In an interview with CNBC, Minneapolis Fed President Neel Kashkari said, "We still have a strong, healthy labor market. But I want to keep it a strong, healthy labor market." Atlanta Fed President Raphael Bostic was more circumspect.

Persons: IXIC BRBY, Jerome Powell, Michael Nagle, Neel Kashkari, Raphael Bostic, Austan Goolsbee, Goolsbee, yesterday's Fedspeak, Dow, Jeff Cox, Brian Evans, Alex Harring Organizations: US Federal Reserve, Market, New York Stock Exchange, Bloomberg, Getty, CNBC, Minneapolis, Atlanta Fed, National Association of State, Chicago Fed, Dow, Nasdaq Locations: New York, U.S

☆ Justice Department accuses Visa of debit network monopoly that impacts price of 'nearly everything’
▼ + stars: | 2024-09-24 | by ( Hugh Son | ) www.cnbc.com time to read: +3 min

The U.S. Justice Department on Tuesday sued Visa , the world's biggest payments network, saying it propped up an illegal monopoly over debit payments by imposing "exclusionary" agreements on partners and smothering upstart firms. "Merchants and banks pass along those costs to consumers, either by raising prices or reducing quality or service," Garland said. "As a result, Visa's unlawful conduct affects not just the price of one thing – but the price of nearly everything." "These agreements penalize Visa's customers who route transactions to a different debit network or alternative payment system." 4 behind Visa, MasterCard and American Express .

Persons: Merrick Garland, Garland, Joe Biden's, Discover's Organizations: U.S . Justice, Visa, DOJ, MasterCard, fintech, Plaid, Mastercard, Federal Trade Commission, Consumer Financial, Bureau, Capital, Discover Financial, American Express Locations: New York, U.S

☆ Fed's jumbo interest rate cut puts the U.S. on track for a soft landing, Goldman CFO says
▼ + stars: | 2024-09-24 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

The Federal Reserve's move to lower interest rates by 50 basis points puts the U.S. economy on track for a soft landing, according to Goldman Sachs ' chief financial officer. His comments come as market participants question whether the U.S. central bank's jumbo rate cut has been delivered in time to bring down inflation without pushing the economy into recession. Some analysts have raised concerns about the outlook for the U.S. economy, warning that similar supersized rate cuts couldn't avert the recessions of the early 2000s and the global financial crisis. One basis point equals 0.01%. It was the first time the FOMC had cut by that much since the early days of the coronavirus pandemic, and, before that, the global financial crisis in 2008.

Persons: Goldman Sachs Locations: U.S

Wegovy, the blockbuster weight loss treatment from Novo Nordisk , tops the list of drugs that could soon become part of the second round of price negotiations between manufacturers and Medicare. The Biden administration last month announced new negotiated prices for the first 10 Medicare Part D drugs selected for the talks. He also pushed back on Medicare price negotiations when asked about the potential selection of Wegovy and Ozempic, calling the talks "price-setting" that will have negative consequences for drug innovation. Medicare Part D doesn't cover weight loss treatments unless they are approved and prescribed for another health condition. We'll be following the next round of Medicare drug price negotiations closely, so stay tuned for our coverage.

Persons: Wegovy, Hollie Adams, Biden, it's, Novo, Lars Fruergaard Jørgensen, Lars Jorgensen, Ozempic, Piroschka Van De Wouw, Jørgensen, Semaglutide, We'll, Annika, annikakim.constantino Organizations: Novo Nordisk, Reuters, Specialty Pharmacy, Centers, Medicare, Medicaid Services, Health, Education, Labor, Capitol, CMS, Wall Street, GSK, Astellas Pharma, Epic Systems Locations: London, Britain, Novo, Washington , U.S

☆ The U.S. News College Rankings Are Out. Cue the Rage and Obsession.
▼ + stars: | 2024-09-24 | by ( Alan Blinder | More About Alan Blinder | ) www.nytimes.com time to read: +1 min

After months of tumult on American college campuses, relative stability in one realm returned on Tuesday, when U.S. News & World Report published its oft-disparaged but nevertheless closely watched rankings. Among national universities, Princeton was ranked No. U.S. News again judged Williams College the best among national liberal arts colleges. Few franchises in American higher education are as contentious as the U.S. News rankings. To U.S. News, which retired its print newsmagazine in 2010, the rankings are a bastion of its largely bygone influence.

Organizations: U.S . News, Princeton, Massachusetts Institute of Technology, Harvard, Stanford, . News, Williams College, Spelman College, U.S

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