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President Volodymyr Zelenskyy unveiled his much anticipated “victory plan” on Wednesday, calling on his allies to take urgent steps to bolster Kyiv at a precarious moment in a bid to end the war with Russia next year. His plan proposed establishing a “comprehensive non-nuclear strategic deterrence package” inside Ukraine to protect against threats from Russia and to destroy its military power. Zelenskyy said it was imperative Kyiv’s partners remained united. “If we start moving on this victory plan now, we may be able to end the war by next year at the latest,” he said. Zelenskyy said he would travel to a summit of European Union leaders in Brussels on Thursday to present his plan.
Persons: Volodymyr Zelenskyy, Putin, , Zelenskyy, Kyiv’s, Roman Pilipey, Donald Trump, Joe Biden, Honcharenko, , Organizations: Kyiv, NATO, 24th Mechanized Brigade, Ukrainian Armed Forces, AFP, Getty, North, Republican, Union, Storm Locations: Russia, U.S, Europe, Donetsk, Ukraine, Pokrovsk, AFP, West, Iran, Moscow, Russian, United States, Russia’s Kursk, Brussels, Washington, Britain, France, Italy, Germany, Kurakhove, Roman
Elon Musk’s empire of misinformation
  + stars: | 2024-10-15 | by ( Allison Morrow | ) edition.cnn.com   time to read: +6 min
New York CNN —At any Tesla event, you have to go in expecting a good amount of smoke and mirrors. This is the company run by Elon Musk, after all — its self-anointed Technoking who’s made overpromising and underdelivering a theme of his career. ICYMI: The robotaxis, Tesla’s fully driverless vehicles that it hopes to put into service next year, were the main event. But Musk’s reality distortion field is something else entirely — hardly limited to overly optimistic timetables or pie-in-the-sky projections for Tesla’s delivery schedule. In a twist, though, X dropped Unilever from the lawsuit on Friday.
Persons: CNN Business ’, Elon Musk, Technoking who’s, Tesla, ” Gordon Johnson, ” Morgan Stanley, Adam Jonas, they’re, Steve Jobs, Donald Trump, , Craig Fugate, X Organizations: CNN Business, New York CNN, Elon, Bloomberg, , Apple, National Guard, FEMA, Washington Post, CNN, NBC, ” Unilever, , Unilever Locations: New York, Carolina
Getting ready for the "two problematic stories," Wells Fargo and JPMorgan , which came later in the morning, took some real digging. ET – Wells Fargo shares turned and started inching up. With what you saw in Wells Fargo and JP Morgan on Friday. Think like this: When the psychology of the market changes, people don't want to bang out of Wells Fargo, they want to get in. But there is no doubt that Wells Fargo at 11 times forward earnings now seems a little silly given that the background is so positive.
Persons: Larry Fink, Wells, Wells Fargo, Charlie Scharf, Jamie Dimon, Jeff Marks, JP Morgan, Scharf, It's, Warren Buffett, Morgan Stanley, Eli Lilly, haven't, Jim Cramer's, Jim Cramer, Jim, Squawk, Virginia Sherwood Organizations: BlackRock, JPMorgan, Wall, Club, Wells Fargo, Elon, SpaceX, Federal, New York Stock Exchange, Fed, Bank of America, Boston, Walmart, Costco, Semiconductors, Enterprise, JFrog, Microsoft, , Dow, Jim Cramer's Charitable, CNBC Locations: Wells Fargo, NII, U.S
Dollar bulls suffer setback as traders add to Fed cut bets
  + stars: | 2024-10-11 | by ( ) www.cnbc.com   time to read: +3 min
The U.S. dollar fell from two-month highs hit overnight versus its major peers after signs of weakness in the labor market boosted the case for quicker Federal Reserve rate cuts. Bets for a quarter-point Fed rate cut on Nov. 7 increased to 83.3% from 80.3% a day earlier, with the remaining odds for policy to stay steady, according to the CME Group's FedWatch Tool. A week earlier, there was a 32.1% chance of a half-point reduction and 67.9% probability of a quarter-point cut. The dollar added 0.06% to 148.68 yen , inching back towards Thursday's high of 149.58 yen, a level previously not seen since Aug. 2. The Australian dollar held firm at $0.67395 after rebounding from its lowest since Sept. 16 at $0.6702 on Thursday.
Persons: Tapas Strickland, Austan Goolsbee, Raphael Bostic Organizations: U.S, Treasury, National Australia Bank, Fed, Chicago Fed, Atlanta Fed Locations: China
The terror attack has helped push the Middle East to the brink of a wider regional war. One year after the massacre, the Middle East has only plunged deeper into violence and is on the brink of a broader war. Globally, the immediate concern is that oil supplies will diminish significantly should conflict spill over to the rest of the Middle East. Everyone but Biden can see this," wrote Andrew Exum, a former US deputy assistant secretary of defense for Middle East policy, in The Atlantic last week. The global economy on edgeWhen the conflict began a year ago, there were fears that wider conflict in the Middle East could impact the global economy.
Persons: , Israel, Chuck Frielich, Frielich, Yemen's Houthi, Mohammed Hamoud, barraged, Ammar Safarjalani, Ismail Haniyeh, Haniyeh, Fuad Shukr, Hasan Nasrallah, Qasem Soleimani, JOSEPH EID, JALAA MAREY, Nasrallah, bode, Benjamin Netanyahu, Carmel Gat, Netanyahu, Joe Biden, Biden, Andrew Exum, Brent, Vladimir Putin Organizations: Service, Israel Defense Forces, Hamas, Iranian Revolutionary Guard Corps, The Washington Institute for Near East, Getty Images Iran, Getty, Israel's, United Nations General Assembly, Citigroup, Iranian, US, Middle, Business, Bank of Israel, Reuters, IMF Locations: Israel, Iran, Gaza, Suez, Aden, Red, Palestine, Syria, Damascus, Xinhua, Tehran, Beirut, Haniyeh, Shukr, Lebanon, AFP, Hezbollah's, United States, Ukraine
But even if a storm like that made it to Matthew’s parents’ neighborhood, their house rests on a mound. And it certainly couldn’t happen with Helene, Matthew figured, even as the one-time Category 4 monster showed little sign of cooling its rage. Still, Keli headed out to her job managing a beauty supply store about 20 miles east in Johnson City. The family took to social media, pleading for any information about their missing husband and dad – and his dog. “I think right now we are the only people who know what each of us is going through,” he said.
Persons: Matthew Cloyd, Helene, Matthew, , Keli, Steven Cloyds, a.m, , who’s, Steven, , ” Keli, Steven Cloyd, Matthew Cloyd “, ” Steven, “ You’re, “ It’s, She’d, ” Matthew, Orion, Matthew Cloyd Matthew, Bridges, Who’d, she’d, Mary Gilbert Organizations: CNN, Orion Locations: Illinois, Tennessee, , Florida , Georgia, Carolinas, East Tennessee, Johnson City, , Rockford , Illinois, , Rockford, Jonesborough, Helene’s
Asia-Pacific markets are mixed on Tuesday, after Federal Reserve Chair Jerome Powell indicated the recent outsized cuts enacted by the U.S. central bank should not be interpreted as a sign that future moves will be as aggressive. "If the economy performs as expected, that would mean two more rate cuts this year, a total of 50 [basis points] more." The current federal funds rate stands at 4.75%-5%, with the expected additional 50 basis points in cuts set to take the Fed's benchmark interest rate to 4.25%-4.5% at the end of 2024. In Asia, traders will focus on the Bank of Japan's third quarter Tankan survey, which measures the level of business optimism among large Japanese companies. As such, the member said, "the Bank will not raise its policy interest rate when financial and capital markets are unstable."
Persons: Jerome Powell, Morgan Stanley, Ellen Zentner Organizations: Federal, U.S, Bank of, U.S . Federal Reserve, Liberal Democratic Party, Bank, Reuters Locations: Asia, Pacific, Japan
Futures tied to the Dow Jones Industrial Average were little changed on Wednesday night after the index broke a four-day win streak. Dow futures slipped 16 points, or 0.04%. S&P 500 futures rose 0.1%. The semiconductor manufacturer was trading 14% higher in Wednesday's extended trading session after issuing strong guidance for the current quarter. In regular trading, both the S&P 500 and the Dow retreated from their records to close lower.
Persons: Dow, Tom Lee, Dow Jones, Jerome Powell, John Williams Organizations: New York Stock Exchange, Futures, Dow Jones, Dow, Nasdaq, Micron Technology, Lam Research, Fundstrat Global Advisors, Federal Reserve, New York Fed, CarMax, Accenture, Costco Wholesale
CNN —It was perhaps fitting that Shohei Ohtani should achieve one of baseball’s most remarkable feats with an out-of-this-world performance. But despite being kept away from the mound, Ohtani has had a phenomenal debut season with the Dodgers. Ohtani smacks his 50th home run of the season, and with it, earns the first 50/50 in MLB history. Megan Briggs/Getty ImagesEven without pitching this season, Ohtani is still the odds-on favorite to win the NL MVP award, potentially the first to do so having played solely as a designated hitter (DH). A betrayal off the fieldAll the while, Ohtani’s record-breaking season on the diamond has come against the backdrop of off-field challenges.
Persons: Ohtani –, , , , Aaron Judge, Ohtani, Megan Briggs, Shawn Green, Ronald Acuña Jr, Alex Rodriguez, Raul Mondesi, Matt Kemp, Dave Roberts, Yoshimasa Hayashi, ” Hayashi, Ippei Mizuhara, Mizuhara, Damian Dovarganes, Mizuhara – Organizations: CNN, Los Angeles Dodgers, Miami Marlins, Major League Baseball’s, League MVP, Marlins, Dodgers, Los Angeles Angels, New York Yankees, National League West, NL West, Atlanta Braves, Seattle Mariners, MLB, ” Dodgers, City of Angels, US Department of Justice, Dodger Locations: Asia, South Korea, Santa Ana , California
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Persons: , Jerome Powell Organizations: Business, Service
New York CNN —Stocks jumped Thursday morning as investors cheered the Federal Reserve’s eye-popping half-point interest rate cut. Tech stocks surged: Nvidia shares popped 4.8%, Tesla shares gained 5.4%, Meta Platforms shares rose 3.5% and Apple shares climbed 3.5%. The Fed on Wednesday cut rates by half a point, marking its first rate cut since the onset of the Covid pandemic and bringing rates down from a 23-year high. A large rate cut can be a double-edged sword for the economy. The Fed faced pressure to cut rates in July but held steady instead.
Persons: New York CNN — Stocks, Tesla, Jerome Powell, , Ronald Temple, Powell Organizations: New, New York CNN —, Dow, Nasdaq, Tech, Nvidia, Meta, Apple, Fed, Lazard Locations: New York, August’s
Read previewMorgan Stanley has some disappointing news for investors: your taxes are probably going up in the next few years. But one strategist at Morgan Stanley says it's not that simple. Despite these differences, Morgan Stanley expects tax rates to increase no matter who takes office. And a divided Congress, which Morgan Stanley predicts is very likely in November, will only further reduce the likelihood of dramatic change. Typically, the stock market is more influenced by the business cycle than tax policy or political party, according to Morgan Stanley.
Persons: , Morgan Stanley, Trump, Kamala Harris, it's, Monica Guerra, Morgan Stanley Wealth Management's, Harris, Biden, There's, haven't, Guerra isn't, Guerra Organizations: Service, Business, Morgan Stanley Wealth, US, Trump, Republican, Democratic, Treasurys, New, Equity Locations: New York City
Mortgage rates have dropped substantially in recent weeks, with 30-year rates now almost 40 basis points down from where they started the month. 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 gone down this week and are now hovering below 5.60%, 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. Because markets are already anticipating that the Fed will lower rates, mortgage rates might not drop much in response to a Fed rate cut.
Persons: it's, refinance, you'll, Freddie Mac Organizations: Federal Reserve, Zillow, Fed Locations: Chevron
Cheaper Mortgages and Car Loans: Lower Rates Are on the HorizonThe costs of 30-year mortgages and new car loans have been inching down in recent months, welcome news for borrowers who have endured years of high prices and high interest rates. When the Fed lowers its benchmark rate, it is ultimately trying to reduce borrowing costs for businesses and consumers. Read more about what lower interest rates could mean for five areas of your financial life. That has raised questions about whether the Fed waited too long to begin lowering rates. And the costs of many household items, big-ticket purchases and crucial services remain high for many people.
Persons: Read, Wednesday’s Organizations: Federal Locations: U.S
CNN —Former first lady Melania Trump posted a new video on social media Wednesday defending her previous nude modeling work as she promoted her new book. “Why do I stand proudly behind my nude modeling work? A spokesperson for the former first lady did not immediately respond to questions about what media scrutiny Melania Trump was referring to or whether the photographs had received recent attention. The former first lady’s forthcoming memoir, titled “Melania,” is set to hit shelves in October, according to Skyhorse Publishing. His numerous business ventures also included a modeling agency called Trump Model Management; it was closed shortly after he took office in 2017.
Persons: Melania Trump, , Donald Trump, Donald Trump’s, Ivana Zelníčková, Marla Maples, Trump, Barron, John Paulson, CNN’s Jackie Wattles Organizations: CNN, Skyhorse Publishing, New York Post, , EB, Washington Post, Trump Model Management, White, Republican National Convention, Secret, Trump Locations: British, Slovenian, United States, Florida, Milwaukee, Pennsylvania, New York
CNN —Ukrainian prosecutors have launched an investigation into an alleged Russian execution of a Ukrainian soldier found dead with a sword inscribed with “for Kursk” in his body, in an apparent act of revenge for Kyiv’s recent incursion into the Russian border region. His office later confirmed it had opened a criminal investigation into the alleged execution. “Footage of an alleged execution by sword of an unarmed Ukrainian serviceman with taped hands is spreading on the web,” he wrote on X. Thursday’s image comes as Russia is stepping up its efforts to expel Ukrainian forces from Kursk. The Kremlin has not commented on the alleged execution.
Persons: , Andriy Kostin, , ” Kostin, Benjamin Strick, Dmytro Lubinets, Kostin, Volodymyr Zelensky Organizations: CNN, Centre, Information Resilience, Geneva Convention Locations: Ukrainian, Kursk, Russian, Russia, Novohrodivka, Ukraine’s, Donetsk, Geneva, Moscow, Pokrovsk, Ukraine, Hrodivka
The increase would take the overall number of Russian military personnel to nearly 2.4 million, including 1.5 million troops, according to the decree published by the Kremlin Monday. Last week, Russia stepped up its efforts to expel Ukrainian troops from Kursk and is inching forward toward the crucial Ukrainian town of Pokrovsk in the eastern Donbas region. In August 2022, Putin ordered an increase of 137,000 troops by the start of the new year, which put the military’s staffing at just over 2 million personnel, including 1.15 million troops. Then in December, Putin ordered another official expansion of 170,000 troops, bringing the total to 1.32 million. In an update published this month, the General Staff of Ukraine’s military said Russia has lost 616,300 troops.
Persons: Vladimir Putin, Putin’s, Putin, Sergei Shoigu Organizations: CNN, Kremlin, Russian, Staff, United Kingdom’s Ministry of Defense Locations: Ukraine, Russia’s, Kursk, Russia, Pokrovsk, Kharkiv, Georgia, Robotyne,
Read previewEarlier this month, a spokesperson for Turkey's ruling AK Party said that a process was "underway" for Turkey to join the BRICS group of emerging-market nations. He now appears to be seeking to maintain what experts have dubbed a "balancing act" between its relations with the West, Russia, and China. "Even if Turkey does join BRICS, I do not believe it is going to lead to a fundamental redefinition of Turkey's relationship with the West." Advertisement"Understanding and collaborating with Turkey's perspective can enhance US and NATO relations with Turkey, irrespective of potential administrative changes in Ankara," Can wrote in an article for the Wilson Center. For its part, the US has remained relatively quiet following the news that Turkey's BRICS ambitions may be inching forward, which Aydintaşbaş said was likely a savvy move aimed at avoiding a public dispute.
Persons: , Omer Celik, Tayyip Erdoğan's, Aydintaşbaş, Erdogan, Bulent Aliriza, Yusuf, Aliriza, there's, Turkey's Organizations: Service, AK Party, Reuters, Business, United, Saudi, NATO, EU, West, Brookings Institution, Russia, China, Eurasia Program, Center for Strategic, International Studies, Middle, Wilson Center, Wilson, of Europe, France Locations: Turkey, Ankara, Turkish, Brazil, Russia, India, China, South Africa, Ethiopia, Iran, Egypt, United Arab Emirates, Saudi Arabia, Ukraine, United States, Europe, France, West, Russian, U.S, Washington, Kazan
AGI is a distance awayOpenAI's new o1 models make improvements in the ability of AI models to reason. AdvertisementIn some ways, the o1 models do enter OpenAI into a new paradigm. pic.twitter.com/niqRO9hhg1 — Noam Brown (@polynoamial) September 12, 2024Where previous AI models were bottlenecked by the data fed to them during the "pre-training" phase, Brown wrote, o1 models showed that "we can now scale inference". Related storiesJim Fan, a senior research scientist at Nvidia, noted that the technicalities underlying this are what have helped make this fundamental breakthrough of OpenAI's o1 models possible. Uncertainty hovers over how o1 models will perform more broadly.
Persons: , OpenAI, Sam Altman, Noam Brown, niqRO9hhg1 — Noam Brown, Brown, Jim Fan, Fan, Altman, Will Depue, — Sam Altman, Ethan Mollick, it's Organizations: Service, Business, o1, International, pretraining, Nvidia, OpenAI's o1, Wharton Locations: San Francisco
Russia has launched a major counterattack in its Kursk border region, more than a month after a surprise invasion by Kyiv’s forces that turned the tables in the two-and-a-half-year war. Ukraine has claimed to hold some 500 square miles of Russian territory in Kursk after sweeping across the border on Aug. 6 and taking Moscow by surprise. NBC News was able to geolocate a video purporting to show a column of what appears to be Russian military vehicles moving toward the settlement of Snagost in the Kursk region. Ukrainian forces were also trying to break through the border in other areas of the Kursk region, the ministry said. Zelenskyy told NBC News last week that he planned to hold the territory his forces had seized in Kursk indefinitely.
Persons: Volodymyr Zelenskyy, Vladimir Putin, Putin, Snagost, Christopher Tuck, “ It’s, , Tuck, Oleksandr Musiienko, Musiienko, Zelenskyy, ” Musienko Organizations: Russian Defense Ministry, NBC News, Russia’s Defense, King’s College London, Center for Military Legal, NBC, Ukraine Locations: Russia, Kursk, Ukraine, Moscow, Pokrovsk, Russian, Snagost, Glushkovsky, Kyiv
Indexes rose Thursday as investors digested new inflation and labor market data. Jobless claims last week rose slightly following two weeks of consecutive declines. The producer price index logged a 0.2% monthly rise, in-line with expectations. In the second inflation reading of the week, the producer price index rose 0.2% from July to August, in line with expectations. This corner of the stock market is set to outperform once the Fed starts cutting interest rates, Goldman Sachs says.
Persons: , Harris, Ed Yardeni, Goldman Sachs Organizations: Service, Federal Reserve, Labor Department, Here's, Trump
Mortgage rates have dropped nearly 20 basis points this week, with 30-year rates now near 5.7%, according to Zillow data. 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 inched down this week and are now hovering near 5.7%, 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. Because markets are already anticipating that the Fed will lower rates, mortgage rates might not drop much in response to a Fed rate cut.
Persons: you'll, Freddie Mac, it's Organizations: Reserve, of Labor Statistics, Fed, Zillow Locations: Chevron
In today's big story, this guy is ready to give up after applying to nearly 2,200 jobs . The big storyNot hiringKevin Cash Ben BoxerHow tough is the current job market? AdvertisementThe job market is in a weird spot these days. On paper — and maybe in another labor market — Kevin appears to be the perfect candidate. It's a tough reality check for employees who previously held all the power in the job market.
Persons: , Zer, Kevin Cash Ben Boxer, Kevin Cash, Tim Paradis, Kevin, it's, Forget, Tyler Le, we're, duMond, Chip Somodevilla, Alyssa Powell, Harris, Rebecca Zisser, Elon, Apple, Jensen, Goldman Sachs, David Soloman, Huang, Chelsea Jia Feng, Trump, Brian Niccol, We're, Niccol, Dan DeFrancesco, Hallam Bullock, Milan Sehmbi, Amanda Yen Organizations: Service, Business, Mensa, BI Trump, Oppenheimer, Fed, Twitter, Nvidia, Kroger, London Locations: San Francisco, Austin, New York, London
See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 30-Year Mortgage Rates TodayAverage 30-year mortgage rates are down slightly and are hovering around 5.75%, according to Zillow data. 15-Year Mortgage Rates TodayAverage 15-year mortgage rates have inched down this week and are hovering just above 5%, according to Zillow data. Last month, 30-year refinance rates averaged 6.59%, while 15-year refinance rates were around 5.90%. 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: they've, you'll, Freddie Mac, it's, They'll, refinance Organizations: Reserve, Zillow, Fed Locations: Chevron
CNN —Former first lady Melania Trump has begun inching more back into the political spotlight on the final few months of the 2024 presidential campaign with a series of politically pointed social media videos. The memoir itself is an exception to a pattern Melania Trump has largely stuck to for the 2024 presidential cycle, as former President Donald Trump has been running to become president again. At the Republican National Convention, Melania Trump did not deliver a speech but appeared on stage during the final night of the convention. “This morning, ascend above the hate, the vitriol, and the simple-minded ideas that ignite violence,” Melania Trump wrote in the July 14 statement. Even so, Melania Trump herself has repeatedly described herself as a private person.
Persons: Melania Trump, , , Trump, Donald Trump, John Paulson, Tricia McLaughlin, ” McLaughlin, Melania, Barron Organizations: CNN, Republican National Convention Locations: America, Mar, Florida, New York, Butler , Pennsylvania
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