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Donald Trump names a new pick for attorney general after Matt Gaetz withdrew from consideration. And President-elect Donald Trump has a new pick for who he wants to be the next attorney general. Russia’s use of such a missile, which can strike far beyond Ukraine and can carry a nuclear warhead, is a warning to Ukraine, Washington and other NATO states, analysts said. Staff Pick: Denzel Washington brings his charm to ‘Gladiator II’Denzel Washington as Macrinus in a scene from "Gladiator II." The best Advent calendars on Amazon include options with chocolate, beauty and skin care products, Legos, dog treats and more.
Persons: Donald Trump, Matt Gaetz, Putin, Trump, Pam Bondi, Gaetz, Bondi, Ballard, , Vance, Republicans ”, , Read, Vladimir Putin, Yesterday’s, Jussie, Jair Bolsonaro, Bolsonaro, Max Verstappen, Denzel Washington, Aidan Monaghan, Paramount Pictures Denzel Washington, ” Washington, smirk ”, Washington, Ronda Racha Penrice, — Michelle Garcia Organizations: Ballard Partners, Justice Department, FBI, Drug Enforcement Administration, Prisons, Trump, Republicans, Department, Gaetz, DOJ, West, Defense, NATO, Justice, Chicago police, Former, Paramount Pictures, Ronda Racha, NBC Locations: Ukraine, Bondi, West Russian, Russia, Washington, Illinois, Chicago, Wisconsin, Uzbekistan, Las Vegas, Ronda
Goldman says 2025 will be the 'year of generating income'
  + stars: | 2024-11-22 | by ( Michelle Fox | ) www.cnbc.com   time to read: +5 min
Goldman Sachs Asset Management is predicting 2025 will be the "year of generating income." One focuses on the S & P 500 — Goldman Sachs S & P 500 Core Premium Income ETF (GPIX) and another on the Nasdaq-100 index — Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ ). High-yield muni bonds Shah also sees opportunity for income within high-yield municipal bonds . "Municipal high yield is a good way of generating income that can compete with your appreciation," Shah said. GHYAX YTD mountain Goldman Sachs High Yield Municipal Fund Dividend stocks and bonds Investors can also turn to more traditional forms of income in dividend stocks and fixed income, Shah said.
Persons: Goldman, Ashish Shah, Shah, — Goldman Sachs, Goldman Sachs Organizations: Management, CNBC, Federal Reserve, Crane Data, nab, Investors, Goldman, Nasdaq, Goldman Sachs Nasdaq Locations: securitized
The Summary A newly identified chemical byproduct may be present in drinking water in about a third of U.S. homes, a study found. About a third of U.S. residents have been receiving tap water containing a previously unidentified chemical byproduct, a new study has found. “We looked for it in 40 samples in 10 U.S. chlorinated drinking water systems located in seven states. It’s likely to be found in all drinking water treated via this method, he said. Any treatment of drinking water involves some level of health risk, Roberson said.
Persons: , David Wahman, chloramine, David Reckhow, Julian Fairey, Alan Roberson, Reckhow, , David Andrews, ” Andrews, Roberson, It’s, Wahman Organizations: Environmental Protection Agency, University of Massachusetts, University of Arkansas, Association of, Environmental Locations: U.S, Amherst
So that's why I say there's plenty of meat left on the bone for investing in credit munis," McFee said. Sector outlook Municipal bond funds buy and hold fixed income instruments issued by state and local governments or related entities. Over the past month, major index funds iShares National Muni Bond ETF (MUB) and Vanguard Tax-Exempt Bond ETF (VTEB) have raked in about $2.2 billion of combined inflows, according to FactSet. The big iShares and Vanguard muni funds have each returned about 1.7%, year to date, compared with 1.6% for the iShares Core U.S. And Vanguard is not the only asset manager pushing new muni funds into the market.
Persons: weren't, Steve McFee, McFee, Goldman Sachs Organizations: Vanguard, Bond, McFee, AAA, Muni Bond ETF, Vanguard muni, iShares, Aggregate Bond
At 34, he was the city’s youngest ever mayor, and he campaigned on a promise of self-determination for the predominantly Black city. It’s an ongoing factor in Mississippi politics,” said Leslie McLemore, a former Jackson State University political science professor who also once sat on the Jackson City Council. That was on top of years of boil-water notices that eroded residents’ trust in the city’s water supply. In April, a push by conservative legislators to strip local control of the city’s water system failed for the second time in the House. Rogelio V. Solis / AP fileByron D'Andra Orey, a political science professor at Jackson State University, said the bribery scandal could shape the municipal elections.
Persons: JACKSON, , Chokwe Antar Lumumba, Jackson, Lumumba, Jody Owens, Aaron Banks, Angelique Lee . Lumumba, Owens, Banks, Lee, “ I’m, Virgi Lindsay, Lindsay, , Leslie McLemore, ” McLemore, ” Jackson, Lauren Witte, Ronnie Crudup Sr, , that’s, Jacksonians, “ It’s, ” Kim Meeks, Rogelio V . Solis, Zakiya Summers, Summers, Tate Reeves, Reeves, Bill, “ H.B, Liam Kennedy, Chokwe Lumumba, Tupac Shakur, ” Jacksonians, Rukia Lumumba, Annie Cooper, Jan, Byron D'Andra Orey, CJ Rhodes, Mount Organizations: Miss, City, Republican, Democratic, Jackson State University, Jackson City Council, USA, New Horizon Church, City Council, DA, Rep, U.S . Justice Department, NAACP, Mississippi Army National Guard, Lumumba, Clarion, Ledger, , State Capitol, Mount Helm Baptist Locations: Black, Hinds, , Mississippi, Jackson, Mississippi’s, Jackson’s Fondren, Hinds County, , Northwest Jackson, Mount Helm
CNN —“Impoundment” is another word that Americans may need to learn in the vernacular of President-elect Donald Trump’s second term. Trump took the time to record a video about impoundment during the Republican primary season, and he promised seizing control over spending from Congress would be a top priority if he was elected. Impoundment occurs when Congress appropriates money that the president then declines to spend. As a result of these standoffs, Congress passed a law to curtail a president’s use of impoundment, particularly for policy reasons. The Impoundment Control Act of 1974 did a lot more than that, however.
Persons: Donald Trump’s, , Trump, Thomas Jefferson, Richard Nixon, Nixon, Volodymyr Zelensky, Joe Biden, Trump’s, , Vivek Ramaswamy, Elon Musk, DOGE –, Ramaswamy, ” Ramaswamy, Matt Gaetz, Jimmy Carter, It’s Organizations: CNN, Senate, Republican, Congress, Congressional Research Service, Office, Capitol, Supreme, overreach, Elon, “ Department, Government, Alcohol, Tobacco, Firearms, Explosives, Ramaswamy, Department of Education, Nuclear Regulatory, Trump, FBI Locations: Mississippi, Louisiana, France, Ukraine, Trump’s, Ohio, Washington
How to trade on Thanksgiving travel
  + stars: | 2024-11-18 | 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 EmailHow to trade on Thanksgiving travelDan Close, head of municipals at Nuveen, joins CNBC's 'The Exchange' to discuss trading on Thanksgiving travel, the case for municipal bonds, and more.
Persons: Dan Close Locations: Nuveen
CNN —More than half a million people have been evacuated from their homes as Super Typhoon Man-yi made landfall along the eastern coast of Catanduanes, Philippines on Saturday. A further 18,000 were preemptively evacuated from the Eastern Samar and Samar provinces, PNA reported, with patients and staff members of Eastern Samar’s Arteche District Hospital being evacuated to the area’s municipal hall. Man-yi underwent rapid intensification on Friday, jumping from a tropical storm early Friday to a super typhoon early Saturday. Hundreds of thousands of people were evacuated from their homes as others made preparations for the typhoon ahead of its landfall on Saturday. After crossing Catanduanes, Man-yi is expected to make another landfall about 70 miles (110 km) northeast of Manila Sunday afternoon.
Persons: Joseph Boboy Cua, , , Charism Sayat Organizations: CNN, Reuters, Philippine News Agency, PAGASA, Facebook, Getty, Manila Sunday Locations: Catanduanes, Philippines, Bicol, Northern Samar, Eastern Samar, Samar, Eastern Samar’s Arteche, area’s, AFP, Manila, Luzon
Lisa Kauffman was over Florida's hurricanes and the faster pace of life in the US. AdvertisementThis as-told-to essay is based on a conversation with Lisa Kauffman, a 55-year-old teacher with a background in biology and special education. In 2023, I purchased a one-way ticket to Panama, planning to live on the private island I had previously visited in 2022. I live off the grid, and my day-to-day expenses are lowThe island I live on is remote. Courtesy of Lisa KauffmanI live on about $1,000 a month.
Persons: Lisa Kauffman, Kauffman, , I've, I'd, Ian, I'm, Minnie Organizations: Service, Kauffman Locations: Panamanian, Panama, Caribbean, Bocas del Toro, Panama City, Florida, Fort Myers, Costa Rica, Hawaii, Thailand, New York
"Investors should take advantage as munis are poised to deliver good performance into year-end and 2025, in our view," he added. Interest income from municipal bonds is free of federal income taxes. Further, if the investor resides in the same state that issues the bond, the interest income can be exempt from state taxes. Both of those tax cuts could reduce muni bond demand, Li said. As for any potential changes in the individual tax rate, UBS' Mukherjee doesn't necessarily see a big impact on demand.
Persons: Sudip Mukherjee, Mukherjee, Yingchen Li, Trump, Li, Donald Trump, Bank of America's Li, downgrades Organizations: Federal, UBS Global Wealth Management, Bank of America, muni, Republicans, Senate, Democrats, GOP, UBS, Investment, Bank of America's
Goldman Sachs is a leading investment bank for corporate dealmaking and trading, and its partners represent less than 1% of roughly 46,000 employees. On average, Goldman's newest partners have spent 16 years rising in the ranks, the bank said last week. "It's like a wedding and birthday wrapped up in one amazing moment that you keep reliving," one new partner said. Here's a glimpse inside the big day of nine of Wall Street's up-and-coming executives, including what they did to mark the occasion. Related storiesI happened to be stepping into a meeting with the Arthur Miller Foundation — an amazing nonprofit that supports theater teachers in schools across NYC and beyond — just as John called.
Persons: Goldman Sachs, David Solomon, , revel, John Waldron, Wall, Rob Barlick, Robert Barlick, Goldman Sachs David, It's, that's, Lyla Bibi, Bibi Goldman Sachs, Bracha Cohen, Marco Argenti, I've, Matt Doherty, Matt Doherty Goldman Sachs, David, Kristin Olsen, Marc Nachmann, Shane Lee, Vishaal Rana, Goldman Sachs David Solomon, Aaron Siegel, Aaron Siegel Goldman Sachs, Hayley, Arthur Miller, John, , Craig Smart, Craig Smart Goldman Sachs, Kristin, Marshall Smith, Sylvia Yeh, Sylvia Yeh Goldman Sachs, Reed Alexander Organizations: Partners, Service, Valley Bank, GS, Goldman Sachs Asset Management, Arthur Miller Foundation, Goldman Locations: Valley, Florida, America, New York, New York City, , Goldman Sachs
Nearly 63% of the US population has fluoridated water flowing through their taps, according to the Centers for Disease Control and Prevention (CDC). Hawaii is the only US state without any fluoride in municipal taps; fluoridated water is only available there on military bases. As such, fluoridated water is now mandated on any military base with more than 3,300 people. Rumors have circulated that drinking fluoridated water can lead to bone cancer (osteosarcoma), but long-term studies from both the UK and US haven't found any credible evidence of higher rates in areas where people drink fluoridated water. Their review concluded that some studies of fluoride consumption have found links between higher fluoride water levels and lower IQs in kids.
Persons: Trump, he'll, , Robert F, Kennedy Jr, Donald Trump's, Biden, Kennedy, He's, Mark Ralston, Leonard Ortiz, Nina Simone, Michael Ochs, Matthias Balk, Anthony Kim, Frank Albert Charles Burke, Obama, Ashley Malin, Malin, Oliva Organizations: RFK Jr, Service, Centers for Disease Control, Prevention, Getty, MediaNews, Orange, NBC, Environmental Protection Agency, Michael Ochs Archives, US Public Health Service, Waimanalo Health Clinic, Honolulu Civil, Calgary, US Department of Defense, Fairfax Media, National Toxicology, University of Florida, Denver, EPA Locations: New York, California, Colorado, Zhijin county, China, AFP, Midwest, Colorado Springs , Colorado, Oakley , Idaho, Arkansas, Grand Rapids , Michigan, , New Mexico, Hawaii, Honolulu, Canada, Alberta, Australia, United States, India, Iran, Pakistan, Mexico, Grand Rapids
But as overall monthly overnight stays in Portugal reached an all time high in August, some Lisbon residents are becoming frustrated by the impact of ballooning tourism on local quality of life. Following protests in September about the city’s housing market, thousands of people living in the Portuguese capital have signed a petition demanding a clampdown on Lisbon vacation rentals. The group behind the petition, the Referendum Movement for Housing (MRH), is seeking to eradicate the almost 20,000 short term vacation rentals in Lisbon residential blocks, hoping to free up housing opportunities for locals. CNN Travel has reached out to Airbnb for comment about the Lisbon referendum petition. Changing the Lisbon tourist industryFreitas stresses a successful referendum wouldn’t eliminate Lisbon tourist lets altogether, but prevent them from “existing in houses registered for residential use.” Landlords would also be prohibited from establishing new vacation rentals in residential buildings in the future.
Persons: Luisa Freitas, Jorge Castellanos, Freitas, , , there’s, Airbnb, , she’s Organizations: CNN, Housing, , CNN Travel, Getty, Barcelona, European Union, Lisbon Locations: Lisbon, Portugal, ” Lisbon, Augusta, Comercio, Baixa
But that doesn’t mean as a result interest rates are now low — or will soon be low. “‘Falling interest rates’ are not the same as ‘low interest rates.’ Interest rates are high and will only decline to ‘not as high’ as … we move into 2025,” said Greg McBride, chief financial analyst at Bankrate. Credit cards: Just before the Fed cut its key rate in September, the average credit card rate was 20.78%, according to Bankrate. Another option: Try transferring your balance to a credit card from a credit union or local bank. Before the Fed’s September rate cut many of those accounts were offering yields between 4.25% and 5.3%, according to those listed on Bankrate.com.
Persons: , Greg McBride, Matt Schulz, Chris Diodato, they’re, Freddie Mac, Sam Khater, Freddie Mac’s, ” McBride, Sinead Colton Grant, Colton Grant, , Don’t, Diodato, you’re, BNY, they’ve Organizations: CNN, Reserve, Bankrate, Fed, LendingTree, Treasury, Savings Locations: Treasuries
Still, Kennedy said that if tapped, he would advise communities on fluoridated water. Major public health groups, including the American Dental Association, the American Academy of Pediatrics and the CDC, soon supported the use of fluoridated water. Cavity prevention, experts say, is a major public health coup. “There’s not any evidence that fluoride has lowered the IQ of kids,” said Dr. David Margolius, Cleveland’s director of public health. Experts maintain that there’s no credible evidence proving fluoride has lowered kids’ IQ levels.
Persons: Donald Trump’s, Robert F, Kennedy Jr, Kennedy —, ” Kennedy, Kennedy, , Meg Lochary, “ There’s, David Margolius, Richard Besser, Robert Wood Johnson, ” Besser Organizations: MSNBC, Centers for Disease Control, American Dental Association, American Academy of Pediatrics, CDC, Pediatrics, U.S . Environmental, Agency, Robert Wood Johnson Foundation Locations: Waxhaw , North Carolina, U.S, Colorado Springs , Colorado, Grand Rapids , Michigan, California
The tax cuts and tariffs floated by Trump has raised worries of a widening fiscal deficit, spurring Treasury yields higher as of late. Bond yields move inversely to their prices. A buying opportunity in bonds Sinead Colton Grant, chief investment officer at BNY Wealth, believes that bond investors overreacted. US10Y YTD mountain U.S. 10-year Treasury "The biggest determinant of your long-term return is the yield," Grant said. Munis While municipal bond yields don't move as quickly as Treasury yields, they are expected to follow, said BNY Wealth's Grant.
Persons: Donald Trump, Bond, Mark Haefele, Sinead Colton Grant, overreacted, Trump, Grant, it's, Brian Rehling, Charles Failla, BNY Wealth's Grant, Sudip Mukherjee Organizations: White, Federal Reserve, Trump, UBS, Fargo Investment, Sovereign Financial Group, AAA, Moody's Locations: Fargo, Stamford, Conn, New York City, muni
Bolster your portfolio for any Election Day outcome
  + stars: | 2024-11-05 | by ( Michelle Fox | ) www.cnbc.com   time to read: +7 min
With Election Day underway, income investors should soon find out how their portfolio may — or may not — be affected by the outcome. Harris has said she wants to boost the corporate tax rate to 28% and increase the top rate for long-term capital gains to 28% for those making more than $1 million. That means that those who are buying AMT bonds but not paying AMT are getting free income, he said. Lastly, a higher corporate tax rate could also spur banks and insurance companies to return to the muni market. The companies owned a lot of municipal bonds when the tax rate was 35% and many bought more corporate bonds when the tax rate fell to 21%, Brandon said.
Persons: Colleen Cunniffe, Donald Trump, Kamala Harris, Collin Martin, Martin, Trump, Harris, Dan Close, Craig Brandon, Brandon, Andrzej Skiba, Skiba, Schwab's Martin, Cunniffe, Cunniff, Darla Mercado Organizations: Vanguard, Wells Fargo Institute, Schwab Center, Financial Research, US, Treasury, , munis, Morgan Stanley Investment Management, Investors, Trump, RBC Global, Management, Federal Reserve Locations: China, Nuveen, U.S
AdvertisementHousing costs and the homeless population have soared in the Western Montana city of Missoula this year. Between 2021 and 2023, the city's two main shelters saw a 53% increase in the number of nights of shelter provided to Missoulans experiencing homelessness. Advocates for those experiencing homelessness say there's much more work to be done. Local lawmakers say the city needs more state and federal funds to aid those experiencing homelessness. Building more housing is key to solving homelessnessAffordability is at the root of homelessness in Missoula and across the US.
Persons: , Jill Bonny, they're, Bonny, It's, Eliza Relman, Bob Campbell, Campbell, who's Organizations: Service, Poverello Center, Sun, Poverello, New Hope Ministries, Business, Marine Corps Locations: Missoula, Western Montana, Montana, It's
Uncertainty is the key theme for markets on the eve of Election Day, but fixed income investors say there are a few opportunities to snap up solid yield even as the market holds its breath. "We are constructive on fixed income as a whole, despite these uncertainties, and we're stressing to investors that yields are really quite attractive – and the income generation we can get from fixed income right now is quite powerful," Persson added. On the municipal bond side, offerings include the iShares National Muni Bond ETF (MUB) , which has a 30-day SEC yield of 3.35%. Vanguard also has its Tax-Exempt Bond ETF (VTEB) , with a 30-day SEC yield of 3.4%. The iShares MBS ETF (MBB) has a 30-day SEC yield of 4.01% and a net expense ratio of 0.04%.
Persons: Kamala Harris, Donald Trump, Andrew Szczurowski, Eaton, Anders Persson, Persson, Fannie Mae, Freddie Mac, Baird Organizations: NBC News, Income, Morgan Stanley Investment Management, Federal, Treasury, Muni Bond ETF, SEC, Vanguard, Bond, SPDR, MBS, Fidelity Intermediate Bond Fund, Bond Fund Locations: Washington, Nuveen
Next week's presidential election could have a big impact on municipal bonds, according to Morgan Stanley. In that case, the federal tax exemption becomes worth more, said Dan Close, head of municipals at Nuveen. However, studies have shown a move of just a couple percentage points "doesn't really move the needle" for muni demand, Brandon said. The TCJA increased the AMT exemption and raised the income level at which the exemption would phase out. That's because banks and insurance companies in the U.S. own about a quarter of all outstanding muni bonds, he explained.
Persons: Morgan Stanley, Donald Trump, Kamala Harris, Craig Brandon, Harris, Dan Close, Brandon, MOrgan Stanley, munis, Nuveen's, , Close, Trump, Morgan Stanley's Brandon, Byron Anderson, He's Organizations: taxpers, AMT, Trump, muni, munis, Republican, Medicare, Democratic, AAA, Investments Locations: Nuveen, U.S
Investors have been heavily buying two very different categories of assets ahead of next week's election: bonds and bitcoin . Bank of America credit strategist Yuri Seliger highlighted a shift toward bond buying among fund investors over the past week. A look at the list of most popular ETFs on FactSet over the past week shows that the demand for bonds has been broad across categories. Funds for investment grade corporate bonds, municipal bonds, mortgage backed securities, long-term Treasury bonds and high yield bonds are all in the top 20 funds by inflows over the past week. The iShares Bitcoin Trust ETF (IBIT) has raked in more than $2 billion of inflows over the past week, according to FactSet.
Persons: Yuri Seliger, Seliger, outflows Organizations: Bank of, HG, HY, Bank of America, , JPMorgan
CNN —Basketball superstar LeBron James threw his support behind Vice President Kamala Harris’ presidential bid Thursday evening, emphasizing that “the choice is clear” just days ahead of Election Day. VOTE KAMALA HARRIS!! James has previously backed Democratic candidates, including endorsing Hillary Clinton in 2016, and was an outspoken critic of Trump during his time in office. James was also actively involved in the last presidential election, founding More Than A Vote — a voting rights organization focused on combatting voter suppression — along with other athletes. Ahead of Election Day, the Harris and Trump campaigns are utilizing the star power of celebrities.
Persons: LeBron James, Kamala Harris ’, Donald Trump, KAMALA HARRIS, Harris, ” James ’, Taylor Swift, Bunny, Arnold Schwarzenegger, James, Hillary Clinton, Trump, Stephen Curry, George Floyd, Floridians, Joe Biden’s, Brett Favre, Cardi, Flo Milli Organizations: CNN — Basketball, Los Angeles Lakers, Democratic, Golden State Warriors, White, Black, Trump, NFL Locations: Detroit, Beyoncé, Wisconsin, Milwaukee
They have IRAs, savings accounts, and an investment portfolio to help during retirement. Like most people, I didn't really start thinking about retirement until I was past my mid-40s. With no house or vehicle payments, utilities, or property taxes, our investment income exceeds our budgeted monthly living expenses. Outside of that, we have our IRAs, savings accounts, and a small self-directed investment portfolio. Life Is What You Make ItLooking back, I wish I'd started sooner, but I was fortunate.
Persons: Chris Mott, couldn't, Mott, , I'm, Chris, Kim, Dodge, I've, It's, we've, I'd, Gigi, Papa, Manseen Logan Organizations: Service, Western, Social Security Locations: California, Western United States, Canada, Orange County, Yorba Linda, Vancouver , Washington, Orange, Lake Havasu, mlogan
With one week until the Nov. 5 election, early voting is underway in all seven battleground states, along with dozens of others. While millions of Americans have stood in line to cast ballots in person, another 20 million have mailed in their ballots. The 46.5 million early votes are almost evenly split between ballots cast in person versus by mail, according to the University of Florida's Election Lab. Georgia also smashed its first-day early voting record with an estimated 310,000 ballots cast on Oct. 15. By Tuesday, just under 3 million ballots had been received.
Persons: Kamala Harris, Donald Trump Organizations: NBC News, University of Florida's Locations: Asheville , North Carolina, U.S, North Carolina, Georgia
CNN —A man has died and up to nine other people are missing after a 10-story hotel collapsed in Argentina. Firefighters, paramedics and police were working to remove debris in order to reach people who are thought to be buried. The victim is thought to have been an 80-year-old man who lived in the building next to the collapsed hotel, minister of security of the province of Buenos Aires Javier Alonso said on the TN news channel. The missing include workers from a construction site at the hotel that was apparently operating “clandestinely, without complying with municipal regulations,” according to the statement. Emergency workers are trying to free up to nine people believed to be trapped in the rubble.
Persons: Buenos Aires Javier Alonso, Alonso, Pablo Funes, CNN’s Michael Rios Organizations: CNN, Villa Gessell, Firefighters, Buenos Aires, Reuters CNN Locations: Argentina, Dubrovnik, Villa, Buenos Aires, Buenos
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