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Many Americans have been holding back from jumping into the housing market in the hopes that mortgage rates will decline. The average 30-year mortgage rate has been above 6% for two years — and is likely to stay above that level for the foreseeable future, experts say. “Sixes are the new normal,” said Lisa Sturtevant, chief economist at Bright MLS, a mortgage listing services group, referring to 6% mortgage rates. It’s really not going to be impacting mortgage rates at all.”Mortgage rates work differently. When demand for those increases, mortgage rates tend to fall.

Persons: Donald Trump’s, ”, Lisa Sturtevant, Brian Rehling, Trump, Mike Fratantoni, ” Fratantoni, Helene, ” Samuel Tombs, Tombs, Sturtevant, “ It’s Organizations: Federal, Bright MLS, Federal Reserve, Wells, Investment Institute, ”, U.S, Mortgage, Association, “, National Association of Realtors, Pantheon, NBC

☆ A family of Venezuelan migrants in Colorado found help in an unexpected place
▼ + stars: | 2024-11-04 | by ( Catherine E. Shoichet | ) edition.cnn.com time to read: +13 min

After lunch, the American family took Simaray, Samuel and Santi to a pharmacy to buy shampoo and other items they needed. Denver Mayor Mike Johnston poses for a portrait at the Denver City & County Building. Rachel Woolf for CNNA ‘crisis’ was hitting the cityAt first, Mike Johnston didn’t know about the Facebook message his wife had sent. In the weeks that followed, the Johnston family teamed up with another Denver family, who was trying to help Simaray’s sister, Saray, and her 5-year-old twins, Mathias and Laura. “Two or three people came up to buy it, and each time, she said, ‘No,’” Mike Johnston says.

Persons: Simaray Sanzo, Samuel, didn’t, Santi, Sima, bienvenidos, Simaray, who’d, Rachel Woolf, Courtney, She’d, “, ”, Ava, ” Samuel, they’d, Mike, Mike Johnston, ’, Mike Johnston didn’t, Johnston, ” Johnston, Courtney Johnston, she’d, he’d, ’ ” ‘, ’ Samuel, –, tugging, … That’s, don’t, —, ” Courtney Johnston, Mathias, Laura, Laura Sanzo, Mathias Sanzo, Santiago Castellano, ‘, Santi …, I’m, Denver Mayor Mike Johnston, Samuel Castellano, who’ve, they’ve, who's, “ it’s, she’s, ” Simaray, hasn’t, they’re Organizations: Denver CNN, Facebook, CNN, de Denver, Google, Denver, Denver City, Denver Mayor, Democrat, Republican, “ Locations: Santiago, Denver, Venezuela, ”, “, Washington, Aurora

☆ Private sector added twice as many jobs as expected in October
▼ + stars: | 2024-10-30 | by ( Alicia Wallace | ) edition.cnn.com time to read: +4 min

CNN —Private sector hiring blew past expectations in October, another sign that the US labor market remains on solid footing, payroll processor ADP reported Wednesday. Non-governmental employers added 233,000 jobs in October, a sharp acceleration from the 159,000 net increase reported for September, according to ADP’s latest National Employment Report. Wednesday’s gains throttled economists’ expectations for job growth to slow to a mere 108,000 jobs from the initial estimate of 143,000, FactSet estimates show. Pantheon Macroeconomics is sticking with its forecast of 100,000 payroll gains, according to an investors note sent Wednesday. And while a resurgence in the labor market could raise concerns about a reacceleration in inflation, October’s ADP data showed otherwise, Richardson said.

Persons: Nela Richardson, Hurricane Helene, ADP’s tabulations, ” Richardson, Richardson, “, Irma, ” Samuel Tombs, Milton …, Wednesday’s, ” Organizations: CNN, ADP, Boeing, Labor Department, of Labor Statistics, Pantheon, Companies, Federal Reserve Locations: Hurricane Milton, Carolina, Florida, Milton, South Atlantic

☆ Brock Purdy leads 49ers past Cowboys on ‘Sunday Night Football’: Key takeaways
▼ + stars: | 2024-10-28 | by ( The Athletic Nfl Staff | ) www.nytimes.com time to read: +5 min

AdvertisementBrock Purdy went 18-of-26, throwing for 260 yards and a touchdown for the 49ers. Rookie running back Isaiah Guerendo added 85 yards and his first career rushing touchdown for San Francisco. The 49ers improve to 4-4 with the win, as the Cowboys drop to 3-4. San Francisco is picking up momentumThe 49ers go into their bye week at 4-4 with momentum after outscoring the Cowboys 21-0 in the third quarter. AdvertisementSo barring something very unexpected, what you see is what you get with this year’s Cowboys team.

Persons: Matt Barrows, Jon Machota, Saad Yousuf, Hunter Patterson, Dak Prescott, Jalen Brooks, Brock Purdy, Purdy, George Kittle, Isaiah Guerendo, Prescott, CeeDee Lamb, Kittle, Christian McCaffrey, who’s, Jake Moody, Greenlaw, Yetur Gross, Matos, It’s, Nick Bosa, Leonard Floyd, — Matt Barrows, standouts, Jordan Mason, Mason, Guerendo, Patrick Taylor Jr, Deebo Samuel, Francisco, Ricky Pearsall, Samuel, McCaffrey, — Barrows, that’s, weren’t, Micah Parsons, DeMarcus Lawrence, DaRon Bland, Jerry Jones, Stephen Jones, — Jon Machota, — Saad Yousuf, Lachlan Cunningham Organizations: San Francisco 49ers, Dallas Cowboys, Sunday, Cowboys, 49ers, San, Dallas, Guerendo, Tampa Bay Buccaneers, NFL, Dallas The Cowboys, year’s Cowboys, Prescott Locations: San Francisco, Tampa

☆ Your election questions, answered
▼ + stars: | 2024-10-19 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +26 min

They ranged from questions about the Electoral College to specific inquiries about why ballots in some counties look the way they do. We’ll add answers to new questions weekly until the election and also send them out to the What Matters newsletter audience. CNN did not project that President Joe Biden would win the 2020 election until four days after Election Day. -- Linda in WashingtonThere were a lot of questions about the Electoral College, which should frustrate people on both sides of the aisle. I’m not including the election of 1800, even though it resulted in a tie in the Electoral College.

Persons: I’ve, Debbie, Ariel Edwards, Levy, Read, they’ve, Will, Trump, Dennis, Donald Trump, don’t, faithless, Sen, Bernie Sanders of, Ron Paul of Texas, Jeanette, Elon Musk, –, Democrats –, Elena, you’re, that’s, you’ve, Harris, Kamala Harris, CNN’s KFile, it’s, Ron, CNN’s Tami Luhby, Joe Biden, Hillary Clinton, George W, Bush, Jennifer Agiesta, what’s, we’re, hasn’t, noncitizens, Critics, doesn’t, Sheila, Nicole Unzicker, Unzicker, Terry I’m, Harvey Let’s, Doug Sosnik’s, Patricia, Al Gore, Rutherford B, Hayes, Samuel Tilden, Tilden, John F, Kennedy, Richard Nixon, James Garfield, Winfield Hancock, I’m, Sandra, Jack Smith, Julie Organizations: CNN, Electoral College, Washington, Puerto Rican, Social Security, Electoral, Library of Congress, Elon, Democrats, Trump, Colorado Presidents, Security, Federal, Republican, Heritage Foundation, Dominion, Senate, White, Democratic, Lumina Foundation, Supreme, eventual, Michigan Trump, Gallup Locations: Florida, Madison, Chad, Virginia, Michigan, Puerto Rico, Guam, Minnesota, Washington, DC, Puerto, Congress, Bernie Sanders of Vermont, Pennsylvania, Colorado, South Carolina, United States, California, Harris, Georgia, North Carolina, . Pennsylvania, Missouri, North Dakota, California , Maryland, Vermont, Washington ,, Ohio, Butler County, Texas, New York, It’s, today’s America, New Hampshire

☆ Don't let September's jobs report fool you — the labor market is still deteriorating at a worrying rate, economists warn
▼ + stars: | 2024-10-13 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

Small businesses also face tight credit conditions and are slowing hiring. AdvertisementThe September payrolls report seemed to switch the investor narrative around the labor market on a dime. Given the usual lags involved between changes in rates and activity, things will probably get worse for small businesses before they get better." "The labor market is not out of the woods just yet, and I continue to see another hiccup in the jobs market before year-end," Dutta wrote. AdvertisementStill, it's unclear how much pressure the labor market will come under in the months ahead.

Persons: —, bearish David Rosenberg, Rosenberg, Merrill Lynch, Samuel Tombs, Tombs, Neil Dutta, Dutta Organizations: Service, Fed, September's, Rosenberg Research, Pantheon, Macro Research, The Conference Board

☆ 3 reasons why today's Fed rate cut is the beginning of a more aggressive cutting spree than investors expect: chief economist
▼ + stars: | 2024-09-18 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

Read previewThe Federal Reserve is expected to slash interest rates today for the first time since 2020 as the labor market and inflation continue to cool. AdvertisementAssuming a 25-basis-point cut at every FOMC meeting until next July, that would leave an extra 75 basis points the central bank would have to work into its policy adjustments over that time. One is that the consumer could be weaker than they appear, and the labor market is likely to deteriorate further. AdvertisementWhile the Fed hopes to stimulate spending with rate cuts, Tombs is skeptical that they'll the impact the central bank wants. Advertisement"New mortgage rates need to drop by about 250bp before they will undershoot the average outstanding mortgage rate," Tombs wrote.

Persons: —, Jerome Powell's, Samuel Tombs, Tombs Organizations: Service, Business, Macroeconomics Locations: Jackson Hole , Wyoming

CNN —With two presidential candidates fighting over a mere 538 Electoral College votes, a tie scenario is more than possible. Those individual, competitive electoral votes in Maine and Nebraska become hugely consequential in potential tie scenarios. If there’s a 269-269 tie, or if a third party or independent candidate wins electoral votes and keeps a candidate from reaching an Electoral College majority of 270, the next step is the same. Has a contingent election happened in the years since the tied election of 1800? In 1876, when there was a contested outcome, the contingent election system was bypassed.

Persons: Thomas Jefferson, Aaron Burr, ”, Kamala Harris, Joe Biden, there’s, It’s, it’s, Mike Johnson, –, Harris, Federalist John Adams, Jefferson, Burr, Alexander Hamilton, Andrew Jackson, John Quincy Adams, Jackson, Robert M, Johnson, Martin Van Buren, South Carolina –, Republican Rutherford B, Hayes, Samuel Tilden Organizations: CNN, Electoral, Democratic, Republicans, Win, Electoral College, Congressional Research Service, CRS, Senate, Democrat, Democrats, Republican, Trump, Federalists, Jefferson’s Democratic, Federalist Locations: Wisconsin , Michigan, Arizona, Nevada, Nebraska, Pennsylvania, Georgia, Maine, California, Texas, Delaware, Wyoming, Washington, DC, Minnesota, North Carolina, – Florida, Louisiana, South Carolina, Oregon

☆ Opinion | J.D. Vance’s Strange Turn to 1876
▼ + stars: | 2024-06-15 | by ( Jamelle Bouie | ) www.nytimes.com time to read: +1 min

This, in fact, was the argument made by Senator J.D. You would’ve actually tried to go to the states that had problems; you would try to marshal alternative slates of electors, like they did in the election of 1876. And then you have to actually prosecute that case; you have to make an argument to the American people.”Let’s look at what happened in 1876. Samuel Tilden of New York, won a majority of the national popular vote but fell one vote short of a majority in the Electoral College. In the three Southern states, where the elections were marred by fraud, violence and anti-Black intimidation, officials from both parties certified rival slates of electors.

Persons: Donald Trump’s, J.D, Vance of, Ross Douthat, Vance, ” Vance, analogized, “, would’ve, Samuel Tilden, Rutherford Hayes Organizations: Democrat, Gov, Electoral College, The Republican Locations: Vance of Ohio, New York, Florida , Louisiana , Oregon, South Carolina

☆ Harvard’s Taylor Swift Scholars Have Thoughts on ‘Tortured Poets’
▼ + stars: | 2024-04-19 | by ( Madison Malone Kircher | ) www.nytimes.com time to read: +1 min

Fans of Taylor Swift often study up for a new album, revisiting the singer’s older works to prepare to analyze lyrics and song titles for secret messages and meanings. “The Tortured Poets Department” is getting much the same treatment, and perhaps no group of listeners was better prepared than the students at Harvard University currently studying Ms. Swift’s works in an English class devoted entirely to the artist. The undergraduate course, “Taylor Swift and Her World,” is taught by Stephanie Burt, who has her students comparing Ms. Swift’s songs to works by poets and writers including Willa Cather, Samuel Taylor Coleridge and William Wordsworth. On Thursday night, about 50 students from the class gathered in a lecture hall on campus to listen to Ms. Swift’s new album. Mary Pankowski, a 22-year-old senior studying history of art and architecture, wore a cream sweatshirt she bought at Ms. Swift’s Eras tour last year.

Persons: Taylor Swift, Department ”, Swift’s, “ Taylor Swift, ”, Stephanie Burt, Willa Cather, Samuel Taylor Coleridge, William Wordsworth, Mary Pankowski Organizations: Department, Harvard University

☆ Opinion: These three Oscar-nominated films couldn’t be more different. Together, they represent the change we need
▼ + stars: | 2024-03-07 | by ( Opinion Noah Berlatsky | ) edition.cnn.com time to read: +7 min

All three films question male conventions and genres in ways that show exactly why we need more films by, and more nominations for, women-directed films. Les Films PelléasTriet’s “Anatomy of a Fall” is about a German novelist, Sandra (Sandra Hüller), accused of murdering her husband Samuel (Samuel Theis). Director Celine Song talks to lead actress Greta Lee on the set of "Past Lives." That doesn’t mean that women directors are less interesting or less original than male directors. Triet, Song and Gerwig have proved that women directors are uniquely positioned to question and rethink old genres, old stories and old ideas.

Persons: Noah Berlatsky, — Justine Triet’s “, Celine Song’s “, Greta Gerwig’s “, ” —, Noah Berlatsky Noah Berlatsky, it’s, Randa Haines, ”, —, Sandra Hüller, Justine Triet's, Pelléas, Sandra, Samuel, Samuel Theis, Billy Wilder’s, David Fincher’s, Triet, Nora Moon, Greta Lee, Hae Sung, Teo Yoo, Nora, Arthur, John Magaro, Celine Song, doesn’t, Gerwig, “ Barbie, “ Barbie ”, Barbie, Ken, Greta Gerwig, Margot Robbie, Jaap Buitendijk, Barbie ”, Bradley Cooper’s, Maestro ”, Christopher Nolan’s “ Oppenheimer, clichés, Alexander Payne’s “, Kelly Reichardt’s, Nida Organizations: CNN, USC, Initiative, Academy, New York Times, Everett, Warner Bros ., Warner Bros, Entertainment, ” Locations: Chicago, German, South Korea

☆ Go Behind the Scenes of All 10 Best Picture Oscar Nominees
▼ + stars: | 2024-03-05 | by ( Mekado Murphy | More About Mekado Murphy | ) www.nytimes.com time to read: +4 min

“Hello, I’m Justine Triet, and I’m the co-writer and the director of ‘Anatomy of a Fall.’” “You took the book’s best idea. Even when it comes to language, I am the one meeting you on your turf. We needed to deliver a certain amount of information and to get to know the character of the dead husband. Often, very dramatic intimate scenes are used to be filmed at night, as if intimacy were separate from the rest of life. I know you know I’m right.

Persons: Justine Triet, ’, ” “ I’m, Sandra, Samuel, — Sandra Hüller, Samuel Theis, It’s, ”, it’s, You’re, Daniel, We’ll Locations: France

☆ Tex McIver — an Atlanta attorney sentenced to life — may walk out of prison after admitting he killed his wife
▼ + stars: | 2024-02-04 | by ( Christina Maxouris | ) edition.cnn.com time to read: +14 min

Behind Diane sat her husband, Claud Lee “Tex” McIver, an attorney with powerful political connections, with a gun in his lap. Claud "Tex" McIver enters the courtroom holding a bible filled with papers before his sentencing at the Fulton County courthouse in Atlanta in May 2018. A family photo of Tex McIver and his wife, Diane. “There is no doubt that Tex McIver depended on his wife’s money,” defense attorney Bruce Harvey said in trial. Tex McIver pleaded guilty to involuntary manslaughter in the death of his wife, Diane, on Friday, January 26, 2024.

Persons: Dani Jo Carter, Carter, Diane McIver, Diane, Claud Lee “ Tex ” McIver, “ Tex, ” Diane muttered, Claud, Tex, McIver, Alyssa Pointer, Fani Willis, retry McIver, Robert McBurney, McIver’s, –, he’s, Don Samuel, Diane chatted, Tex McIver, ” McIver, Seleta Griffin, Tex McIver’s, Griffin, Diane McIver's, Hyosub Shin, Zuma, ”, Clint Rucker, “, ” Prosecutors, ” Griffin, Bruce Harvey, Prosecutors, court’s, codicil, Adam Abbate, Samuel, Amanda Clark Palmer, CNN’s Jamiel Lynch Organizations: CNN, Ford Expedition, Georgia Supreme, WSB, Atlanta, TNS, ”, Prosecutors Locations: Atlanta, Fulton, Georgia, Fulton County, ” Fulton County, Putnam County, Buckhead, “, –

Samuel called one Eagles cornerback “trash” and blistered Philly as his “most-hated” team in the NFL. Brock Purdy threw for 314 yards and four touchdowns, Samuel scored three TDs and Eagles quarterback Jalen Hurts was checked for a concussion in San Francisco's 42-19 win over Philadelphia. “Talking trash, it’s part of the game,” Samuel said. Purdy put the finishing touches on the win with a 46-yard TD to Samuel. Much like in the NFC championship game, Purdy was pressured early.

Persons: — Deebo Samuel, Samuel, Philly, Brock Purdy, Jalen, Kyle Shanahan, Purdy, — Samuel, James Bradberry, ” Samuel, DeVonta Smith, Dre Greenlaw, Dom DiSandro, Greenlaw, Smith, ” Shanahan, ” Purdy, “, Deebo, pesky, Shanahan, A.J . Brown, Brown, Jake Elliott, ”, we've, Brandon Aiyuk, Christian McCaffrey, “ It's, ___ Organizations: PHILADELPHIA, NFC, 49ers, Eagles, NFL, Philadelphia, ” 49ers, ”, Philly, The Eagles, “, Kansas City —, Shanahan, NEXT San Francisco, Seattle, Sunday Locations: Francisco's, Philly, Purdy, A.J, Dallas

☆ The Electoral College Is ‘the Exploding Cigar of American Politics’ - The New York Times
▼ + stars: | 2023-11-29 | by ( Gail Collins | ) www.nytimes.com time to read: +2 min

Or it’s possible the founders just had a lot on their minds and threw the system together at the last minute. Confession: I was hoping to blame the whole Electoral College thing on Thomas Jefferson, who’s possibly my least favorite founding father. Anyway, no matter how it originally came together, we’ve now put the loser of the popular vote in office five times. One involved the Republican Rutherford B. Hayes, who won in 1876 even though the electoral vote was virtually tied and Samuel Tilden easily won the popular vote. George W. Bush lost the popular vote to Al Gore in 2000 — many of you will remember the manic counting and recounting in Florida, which was the tipping point state.

Persons: Waldman, George Washington, Thomas Jefferson, who’s, Sally Hemings, Jefferson, it’s, we’ve, Republican Rutherford B, Hayes, Samuel Tilden, George W, Bush, Al Gore, Gore, Ralph Nader’s, Robert Kennedy Jr Organizations: Republican, Republicans, Southern Democrats, Black, White Locations: France, Florida

☆ A former Vice exec is launching an AI platform that can visualize entire stories, scripts, or poems from the text
▼ + stars: | 2023-11-16 | by ( Marta Biino | ) www.businessinsider.com time to read: +4 min

He started Lore Machine with Moises Sanabria, the company's chief prompt officer, and Kutlu Mizrak, who is in charge of natural-language processing. Lore Machine turns text stories into images, ensuring consistency in style for the different characters, locations, and recurring elements. Stable Diffusion vs Midjourney) depending on their preferences and their values. Lore Machine is currently in beta, and being used by screenwriters, artists, novelists, graphic novelists, and animators, with a waitlist of over 12,000, the company said. Campion said he expects Lore Machine to be publicly available in early 2024.

Persons: Thobey Campion, Campion, Moises Sanabria, Kutlu Mizrak, Machine's, it's, Phil Gelatt, Lore Machine's, Lore, Samuel T Organizations: Business, Machine, Hollywood, Lore Machine

“I hear the screaming, I hear the bikes, and I hear the gunshots.”Aliza Samuel, 24, returned to the site of the deadly Nova festival attack by Hamas militants, in southern Israel, on October 7. “Enjoy,” the Hamas militants said in English, as they laughed, before shooting the three men and one woman at point-blank range, she said. Israel subsequently announced a war against Hamas, the militant group that governs Gaza and launched the coordinated assault. Rebecca Wright/CNNPanicking, the pair sprinted across the open farmland surrounding the festival site and dived into a ditch behind a line of large trees. Rebecca Wright/CNNNow, as Israel wages war across the border, Gensler is following the unfolding humanitarian disaster.

Persons: Israel CNN — Aliza Samuel, ” Samuel, “, ”, ” Aliza Samuel, Rebecca Wright, partygoers, festivalgoers, ‘, Samuel, didn’t, Shlomo Gensler, CNN Panicking, ” “, Dr, ” Gensler, Gensler, you’re, Aliza Organizations: Israel CNN, Nova Music, “, CNN, Hamas, Israel Defense Forces, Palestinian Ministry of Health Locations: Re'im, Israel, Re’im, Gaza, Ramallah, Gensler

NEW YORK (AP) — Since Justine Triet’s “Anatomy of a Fall” premiered at the Cannes Film Festival where it won the Palme d’Or, Sandra Hüller has been dogged by a question: Did she do it? In “Anatomy of a Fall,” Hüller plays a well-known novelist, also named Sandra, whose husband (Samuel Theis) is found dead outside their chalet in the French Alps after plunging from a top-floor window. Political Cartoons View All 1207 Images“She should be a dangerous person, in a way,” Hüller added. She also stars this fall in Jonathan Glazer’s acclaimed Holocaust drama “The Zone of Interest” as Hedwig Höss, wife of the Nazi commandant Rudolf Höss. It’s kind of a psychological but dangerous thing.”In the case of “Anatomy of a Fall,” Hüller knew immediately after reading the script that she wanted to play Sandra.

Persons: Justine Triet’s “, Palme, Sandra Hüller, ” Hüller, Sandra, Samuel Theis, Snoop, —, “, ”, Triet, Arthur Harari, ” Triet, it’s, doesn’t, Trần Anh Hùng’s, Emmanuel Macron, Anh, Maren Ade’s, Toni Erdmann, Jonathan Glazer’s, Hedwig Höss, Rudolf Höss, Hüller, Queen, Hedwig, Rudolf, it's Organizations: Cannes, France, New York Film, Nazi Locations: French, Cannes, France, “ The, The

☆ Liberia: Citizens vote in crucial polls amid flaring tensions
▼ + stars: | 2023-10-10 | by ( Nimi Princewill | ) edition.cnn.com time to read: +9 min

‘Correcting a mistake’Boakai told CNN that his young supporters are now desperate for change. Weah’s campaign manager told CNN no Liberian law prevents them from running from office, adding that the government was awaiting evidence from US to enable prosecutions. A unique electionOscar Bloh, head of ECC, Liberia’s largest election observation group, told CNN this election is different from previous polls in the country. A spokesman for the electoral commission, Henry Flomo, told CNN, “Everything is in schedule,” as dictated by law. “It’s unlikely that any of the candidates will win outright during the first round,” he told CNN.

Persons: CNN —, George Weah, Weah, Joseph Boakai, Seif Magango, Ballon, Boakai, ’ Boakai, ’ ”, ” Boakai, Ahmed Jallanzo, Liberians, ”, Joel Cholo Brooks, Shutterstock, ” Weah, Samuel Tweah, –, they’ve, Eugene Nagbe, ” “, Nagbe, “, Brooks, Nathaniel McGill, ” McGill, Sayma Syrenius, Bill Twehway, Twehway, I’m, ” Nagbe, Oscar Bloh, Bloh, Henry Flomo, ” Flomo Organizations: CNN, UN, Bank, Coalition for Democratic, Unity Party, Facebook, UN Human Rights, Boakai, Soul Clinic, Global News Network Liberia, Coalition, Democratic, FIFA, Liberian, Liberia Anti, Corruption, Washington, Port Authority, US Treasury Department, McGill, Weah’s CDC, Transparency International, TI Locations: Liberia, Monrovia, Pipeline, “, Qatar, American, United States

The preliminary reading of the UK S&P Global Purchasing Managers' Index (PMI) for the services sector sank to its lowest since the pandemic lockdown of January 2021 and below all forecasts in a Reuters poll of economists. PMIs for the euro zone picked up a little but still suggested a recession was approaching. Official data showed retail sales rose in August, partially recovering from a rain-induced plunge in July, and a measure of consumer confidence climbed to its highest since January 2022. However, data company S&P Global said its survey was consistent with a drop in quarterly economic output of 0.4%. "The disappointing PMI survey results for September mean a recession is looking increasingly likely in the UK," said Chris Williamson, chief business economist at S&P Global.

Persons: Molly Darlington, BoE, Sterling, Martin Beck, Beck, Chris Williamson, Samuel Tombs, Andy Bruce, Toby Chopra Organizations: REUTERS, P, CBI, Bank of England, P Global, U.S, Confederation of British Industry, PMI, Pantheon, Thomson Locations: Altrincham, Britain

SANTA CLARA, Calif. (AP) — Christian McCaffrey scored a touchdown in his 12th straight game, Brock Purdy threw two TD passes and the San Francisco 49ers won their 13th straight regular season game, 30-12 over the New York Giants on Thursday night. The defense did the rest against the short-handed Giants (1-2), who fell behind by double digits at the half for the third time in three games this season. That matched Jerry Rice's franchise record with 12 straight games in the regular season or playoffs with a TD and is three shy of the NFL mark. They rallied to beat the Cardinals with a strong second half. Davidson (elbow) left in the second half.

Persons: — Christian McCaffrey, Brock Purdy, McCaffrey, Deebo Samuel, George Kittle, Saquon Barkley, Andrew Thomas, Ben Bredeson, Matt Breida's, Daniel Jones, Purdy, Ronnie Bell, Samuel, Jerry Rice's, Kittle, Bell, San Francisco, Trent Williams, York's A'Shawn Robinson, Aaron Banks, Williams, Robinson, Shaun Hochuli, Deonte Banks, Davidson, Brandon Aiyuk, Ambry Thomas, ___ Organizations: San Francisco 49ers, New York Giants, Niners, Giants, Dallas, Arizona, Cardinals, Eagles, INACTIVES Giants, UP, Seattle Locations: SANTA CLARA, Calif, New York, San, Arizona

☆ Analysis: Investors call 'peak pessimism' for beaten-up UK stocks
▼ + stars: | 2023-09-13 | by ( Naomi Rovnick | ) www.reuters.com time to read: +6 min

"It feels like we've passed the peak of pessimism about the UK," said Daniel Lockyer, senior fund manager at 7 billion-pound investment and advice group Hawksmoor Investment Management, which increased its exposure to UK companies in August. Consumer stocks are outperforming as investors bet on the UK cost of living crisis becoming less intense. Reuters Graphics Reuters GraphicsLeigh Himsworth, UK fund manager at Fidelity International, said he was "trying to pick off UK retailers we can buy", while it was also "time to pick up some of the (UK) real estate sector." But while noting good economic reasons to call an upturn for UK stocks, fund managers also stressed the need for further steps from policymakers to revive interest in British equities. Premier Miton is lobbying policymakers to introduce a new tax-efficient investment vehicle for UK stocks.

Persons: Toby Melville, we've, Daniel Lockyer, Morningstar, Martin Walker, Walker, Samuel Tombs, Reuters Graphics Reuters Graphics Leigh Himsworth, Spencer, Neil Birrell, Premier Miton, Miton, Savvas Savouri, Naomi Rovnick, Dhara Ranasinghe, Sharon Singleton Organizations: London Stock Exchange, REUTERS, Inflation, LONDON, Apple, FTSE, Investment Management, Global, Reuters, Bank of England, Reuters Graphics Reuters Graphics, Fidelity International, Premier, Fidelity, Thomson Locations: Canary Wharf, London, Britain, U.S, COVID, outflows

Output had risen 0.5% in June, and the economy grew 0.2% over the three months to the end of July. The data underlined signs that Britain's economy is weakening, perhaps by more than the Bank of England had expected ahead of its September interest rate meeting. "Either way, it does suggest that higher interest rates and sticky inflation are having a more significant effect on the economy." Unusually wet weather in July hurt output at retailers and in the construction sector, which fell 0.5%, the ONS said. Wednesday's data does not include recent, substantial upward revisions to the performance of Britain's economy up to the end of 2021.

Persons: Toby Melville, Sterling, BoE, Neil Birrell, Samuel Tombs, Andy Bruce, David Milliken, William James, Alison Williams Organizations: St Thomas ' Hospital, REUTERS, LONDON, National Statistics, Bank of England, Premier Miton, ONS, Thomson Locations: St, London, Britain, England

Official data showed sales volumes last month were 1.2% lower than in June. Food stores sales volumes fell by a monthly 2.6% while non-food stores sales volumes fell by 1.7%. However, July's data represented only the second time that sales volumes fell on a month-to-month basis so far in 2023, suggesting resilience in consumer demand. Market research firm GfK reported last month that consumer confidence fell in July for the first time since January. Retail sales volumes were 3.2% lower than a year earlier, the ONS said, compared with economists' forecasts for a 2.1% decline.

Persons: Sterling, Heather Bovill, Ruth Gregory, GfK, Samuel Tombs, BoE, Tombs, Spencer, James Davey, Kate Holton, Susan Fenton Organizations: Reuters, Office, National Statistics, Department, Bank of England, Capital Economics, Macroeconomics, Thomson

Annual pay growth including bonuses also accelerated, hitting 8.2%, the fastest outside the coronavirus pandemic period when government job subsidies distorted the data. Two-year British government bond yields, which are sensitive to speculation about BoE rate changes, hit their highest level in a month. Samuel Tombs, an economist with Pantheon Macroeconomics, said wage increases were set to slow in the second half of 2023. "The momentum in wage growth still is too strong for the Committee to take a break just yet," Tombs said. However, inactivity due to long-term sickness rose to a new record high, adding to the problems for employers seeking to fill job vacancies and adding to the pressure on pay growth.

Persons: BoE, Sterling, Samuel Tombs, Tombs, Andrew Bailey, Bailey, it's, Sharon Graham, Sachin Ravikumar, Sharon Singleton Organizations: Reuters, Sterling, Bank of England, Pantheon, Public, Unite, Union, Thomson Locations: Britain

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