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☆ Analysts say don't chase Nike pop on new CEO: 'There are probably no quick fixes'
▼ + stars: | 2024-09-20 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Nike's CEO is stepping down, and some on Wall Street appear to be lukewarm about the news. On Thursday after the bell, the sneaker giant announced that CEO John Donahoe will be retiring on Oct. 13. Wells Fargo maintained its overweight rating and increased its target by $9 to $95, implying more than 17% upside ahead. "We expect multiple expansion commensurate with Hill's hire — as leadership has been a large point of contention and controversy surrounding the stock," analyst Ike Boruchow wrote in a note. Bernstein, which has an outperform rating on Nike, expects the turnaround "will take time," but said market sentiment will be sympathetic.

Persons: John Donahoe, Elliott Hill, Jay Sole, Sole, Morgan Stanley, Alex Straton, Straton, Wells Fargo, —, Ike Boruchow, Bernstein, Aneesha Sherman Organizations: UBS, Nike, JD, Bank of America Locations: FL

☆ Watch CNBC's full interview with Marci McGregor & Brian Levitt
▼ + stars: | 2024-09-20 | 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 Marci McGregor & Brian LevittMarci McGregor, Merrill & Bank of America Private Bank head of CIO portfolio strategy, and Brian Levitt, Invesco global market strategist, join CNBC's 'Closing Bell' to discuss reactions to the Fed's decision to cut rates by 50 basis-points, market outlooks, and more.

Persons: Marci McGregor, Brian Levitt Marci McGregor, Brian Levitt, CNBC's Organizations: Merrill & Bank of America Private Bank

☆ Rise of 3D-printed commercial real estate
▼ + stars: | 2024-09-20 | 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 EmailRise of 3D-printed commercial real estateZachary Mannheimer, Alquist 3D founder and chairman, joins 'Squawk Box' to discuss the company's partnership with Walmart to print one of the the largest 3D printed commercial structure in the U.S., the difficulties of printing commercial structures, and more.

Persons: Zachary Mannheimer Organizations: Walmart Locations: U.S

☆ We expect to keep policy rate at 4.5% until end of the year, Norway central bank chief says
▼ + stars: | 2024-09-20 | 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 EmailWe expect to keep policy rate at 4.5% until end of the year, Norway central bank chief saysNorges Bank Governor Ida Wolden Bache discusses the decision to hold interest rates in September.

Persons: Norges Bank Governor Ida Wolden Bache Organizations: Norges Bank Governor Locations: Norway

☆ Europe will loan war-torn Ukraine up to $39 billion to aid recovery
▼ + stars: | 2024-09-20 | by ( Anna Cooban | ) edition.cnn.com time to read: +1 min

London CNN —The European Union will loan Ukraine up to €35 billion ($39 billion) to help rebuild its economy, the bloc’s executive arm announced Friday. Western nations froze Russia’s assets in bank accounts located in Europe and the United States as part of a massive wave of sanctions enacted after Russian President Vladimir Putin ordered the full-scale invasion of Ukraine in 2022. Von der Leyen’s visit to Kyiv comes just as the winter heating season starts in Ukraine. Russia’s bombardments targeted at the country’s energy infrastructure have intensified in recent months, leaving Ukrainians vulnerable to power outages. On Thursday, the International Energy Agency said this coming winter will be the “sternest test yet” for Ukraine’s energy system.

Persons: Ursula von der Leyen, ”, Vladimir Putin, Von der Organizations: London CNN, European Union, International Energy Agency Locations: Ukraine, Kyiv, Europe, United States

☆ Middle East on the precipice after Hezbollah leader vows retribution and Israel launches strikes. Here’s what we know
▼ + stars: | 2024-09-20 | by ( Helen Regan | ) edition.cnn.com time to read: +6 min

In a speech Thursday, Hezbollah leader Hassan Nasrallah condemned the twin attacks, calling them “massacres” that “crossed all the red lines” because the devices exploded in public areas, with civilians among those harmed. Though Hezbollah “suffered a major blow,” a “reckoning will come,” he added, and vowed the attacks would not bring the group down. The Hezbollah chief also warned Israel that fighting on the Lebanese front will not stop until hostilities end in Gaza. Hours later, Israel launched a barrage of strikes in Lebanon, saying it hit about 100 Hezbollah rocket launchers and “terrorist infrastructure sites.”Meanwhile, Hezbollah said it launched at least 17 attacks on military sites in northern Israel. For months, the international community has been trying to de-escalate tensions between Israel and Hezbollah.

Persons: CNN — Israel, Israel’s, Hassan Nasrallah, “, Israel, Nasrallah, –, Hossein, Israel “, Ismail Haniyeh Organizations: CNN, Hamas, Hezbollah, United Nations Security, Iran’s Revolutionary Guard, UN Security Locations: Lebanon, Israel, Gaza, Iran, Lebanese, Beirut, Tehran, Yemen, Syria, Iraq, Argentina, India, Georgia, Thailand, United States

☆ Yen nurses losses as BOJ meets, dollar dogged by rate outlook
▼ + stars: | 2024-09-20 | by ( ) www.cnbc.com time to read: +3 min

Japanese 10,000 yen, left, and US 100 dollar banknotes arranged for a photograph in Tokyo, Japan, on Friday, May 10, 2024. It has been a tough week for the yen, with the euro gaining 2.2% to 159.46 as speculators booked profit on recent long yen positions. The dollar was up 1.4% for the week at 142.84 yen , though off an overnight high of 143.95. "As such, there is scope to further raise the policy rate while keeping financial conditions accommodative," she said. "The recent financial market ructions and the upcoming Liberal Democratic Party election may make the BOJ more cautious about raising."

Persons: Samara Hammoud, Kazuo Ueda, Sterling Organizations: Bank of, U.S ., CBA, 25bp, Liberal Democratic Party, U.S Locations: Tokyo, Japan, Bank of Japan, Samara, China, U.S . Federal, Bank of England

☆ The US economy could get hit by a double whammy on September 30, if 2 major negotiations are not hammered out
▼ + stars: | 2024-09-20 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +6 min

Read previewSeptember 30 could be a consequential day for the US economy if two major negotiations don't get hammered out in time. Congress must pass a stopgap spending bill by the last day of this month to avoid a partial government shutdown. September 30 is also the deadline for the International Longshoremen's Association and several East Coast and Gulf Coast ports to strike a contract. A government shutdownThe rejection of Johnson's plan on Wednesday ratcheted up tensions in Congress as the September 30 deadline draws ever nearer. This would pause the strike while negotiations continued.

Persons: —, there's, Mike Johnson, Johnson, There's, Donald Trump, Mitch McConnell, Joe Biden, Taft, Hartley Organizations: Service, International Longshoremen's Association, Business, GOP, United States Maritime Alliance, Street, White House, Washington Post, Street Journal, Social Security, Medicare, Congressional, Office, International Longshoremen's, Retail Industry, Association Locations: East Coast, Gulf Coast, Maine, Texas, West Coast, RILA

☆ Fed Governor Waller says inflation softening faster than he expected put him in half-point-cut camp
▼ + stars: | 2024-09-20 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Federal Reserve Governor Christopher Waller said Friday he supported a half percentage point rate cut at this week's meeting because inflation is falling even faster than he had expected. A week before the Fed meeting, markets were overwhelmingly pricing in a 25 basis point cut. Along with the decision, individual officials signaled the likelihood of another half point in cuts this year, followed by a full percentage point of reductions in 2025. Fed Governor Michelle Bowman was the only Federal Open Market Committee member to vote against the reduction, instead preferring a smaller quarter percentage point cut. "I was a big advocate of large rate hikes when inflation was moving much, much faster than any of us expected," he said.

Persons: Christopher Waller, Waller, CNBC's Steve Liesman, Michelle Bowman, Bowman, Jerome Powell Organizations: Federal, CNBC, Fed, Market, Commerce Department

☆ Bank of Japan keeps key interest rate steady as it treads cautiously on normalizing policy
▼ + stars: | 2024-09-20 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +1 min

The Japanese flag flutters over the Bank of Japan (BoJ) head office building (bottom) in Tokyo on April 27, 2022. The Bank of Japan kept its benchmark interest rate steady at "around 0.25%" — the highest rate since 2008 — at the conclusion of a two-day meeting Friday. Japan's economy has recovered moderately, the central bank said in its official statement, while acknowledging "some weakness has been seen in part." BOJ Governor Kazuo Ueda said last month that the central bank would continue to raise interest rates if the economy and inflation stayed in line with the central bank's projection. On Thursday, The U.S. Federal Reserve cut interest rates by 50 basis points to a range of 4.75% to 5.0%.

Persons: BOJ, Kazuo Ueda Organizations: Bank of Japan, The Bank of Japan, Nikkei, U.S . Federal Reserve Locations: Tokyo

☆ Jets vs. Patriots: Aaron Rodgers enjoys ‘really special night’ in big New York win
▼ + stars: | 2024-09-20 | by ( Ben Morse | ) edition.cnn.com time to read: +3 min

Rodgers defied his age in the win, moving around with ease and effectiveness as he evaded Patriots defenders and dissected New England’s defense with his throwing. Rodgers was serenaded throughout the game by the Jets faithful with chants of his name, and afterwards, the quarterback labeled Thursday a “really special night.”“I was feeling real good out there,” Rodgers told reporters. I felt like I was myself quite a few years ago.”Rodgers missed the majority of last season with a torn Achilles. Adam Hunger/APRodgers added when asked about returning to the field at MetLife Stadium: “I felt a really good calm about it, honestly, I didn’t think a whole lot about it. But in its third game of the season with the Super Bowl XLV champion at the helm, things appeared to click for New York.

Persons: Aaron Rodgers, Achilles, Rodgers, Allen Lazard, Garrett Wilson –, Wilson, ”, ” Rodgers, “, I’ve, Adam Hunger, Braelon Allen, Drake Maye, Maye –, Jacoby Brissett, Brissett, Maye Organizations: CNN, NFL, MetLife, New York Jet, New England Patriots, Patriots, Jets, AFC East Locations: New York, England

☆ I thought I absolutely hated cruises — but then I went on one of the largest ships in the world
▼ + stars: | 2024-09-20 | by ( Esther Carlstone | ) www.businessinsider.com time to read: +5 min

Read previewIf you'd asked me just a year ago what I thought of cruises, my answer would have been a resounding "meh." One highlight was the high-flying acrobatics show that I still can't believe happened on a cruise ship. The kids' club was a massive perk, tooAs befitting the grand scale of this ship, Wonder of the Seas' kids' club was far more than just a themed room with a babysitter. My little one loved the kids' club so much that she begged for more time there whenever we went to pick her up. I'm a fan of cruises now — and I think the bigger the ship, the betterI loved how many activities the cruise ship had to offer.

Persons: —, you'd, we'd, Brittany Chang, Taylor Swift, I'd Organizations: Service, Business, Royal Locations: Brittany, Royal Caribbean

☆ I'd sworn off dating apps until I heard about the 'burned haystack' approach women are swearing by. So I put it to the test.
▼ + stars: | 2024-09-20 | by ( Nicola Prentis | ) www.businessinsider.com time to read: +6 min

Read previewAfter a two-and-a-half-year break from the time-suck of dating apps, I reluctantly reinstalled one on my phone a few weeks ago. The return was inspired by Burned Haystack, a new dating method that encourages daters to filter out time wasters and red flags as soon as possible. Young started the Facebook group Burned Haystack Dating Method last year. With the net cast wide, surely I'd meet someone interesting sooner, right? AdvertisementThe author has been connecting with members of the Facebook group Burned Haystack Dating Method.

Persons: —, Jennie Young, Young, Rather, I've, we'll, I'm, he's, I'd, they're, it's Organizations: Service, Business, University of Wisconsin, Facebook, swiping, Netflix Locations: Green

☆ Ryan Reynolds credits his business success to 1 skill: It's a 'precious commodity' in any job, expert says
▼ + stars: | 2024-09-20 | by ( Megan Sauer | ) www.cnbc.com time to read: +2 min

Ryan Reynolds' storytelling abilities aren't just a quirky element of his public persona — they're the bedrock foundation of his success across multiple industries, he says. The movie's budget didn't leave much room for marketing, so Reynolds shouldered some of the load himself, filming and posting comedic advertisements on social media. Multiple of Reynolds' posts went viral, and "Deadpool" grossed $782.6 million in box office sales against a $58 million budget, according to IMDB-owned Box Office Mojo. Mint Mobile's parent company, Ka'ena Corporation, was similarly purchased for up to $1.35 billion by T-Mobile last year. "Reynolds will continue in his creative role on behalf of Mint," T-Mobile said at the time.

Persons: Ryan Reynolds, aren't, —, Reynolds, Kraft, Mint Organizations: Fast, Mojo, Mint Mobile, Aviation, Diageo, Kraft Heinz, Ka'ena Corporation, Mobile, Mint

☆ I avoided paying for day care when I was a single mom. It was hard, but I'm glad I did it.
▼ + stars: | 2024-09-20 | by ( Ashley Archambault | ) www.businessinsider.com time to read: +4 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. When I had my son, I was determined to avoid putting him in day care while I worked. It wasn't just that I didn't love the idea, but as a single mom, I would never have been able to make enough money to make day care make sense. I knew that all my money would have gone right to paying for it. But I was a single mom without much willing help from family members, so I had to get creative.

Organizations: Service

☆ The good, bad, and ugly of life after rate cuts
▼ + stars: | 2024-09-20 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +1 min

You can sign up for Business Insider's daily newsletter here. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This story is available exclusively to Business Insider subscribers.

Persons: —, Jerome Powell Organizations: Business, Service

☆ It's 'premature' to conclude victory over inflation, says Northern Trust's Carl Tannenbaum
▼ + stars: | 2024-09-20 | 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 EmailIt's 'premature' to conclude victory over inflation, says Northern Trust's Carl TannenbaumCarl Tannenbaum, chief economist at Northern Trust, and CNBC's Steve Liesman discuss what the Fed's 50bp cut signals for the future, the state of the job market, and more.

Persons: Northern Trust's Carl Tannenbaum Carl Tannenbaum, Steve Liesman Organizations: Northern Trust Locations: Northern

☆ Bank margins should 'open up' as Fed begins rate cuts, says RBC's Gerard Cassidy
▼ + stars: | 2024-09-20 | 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 EmailBank margins should 'open up' as Fed begins rate cuts, says RBC's Gerard CassidyGerard Cassidy, RBC Capital Markets managing director, joins 'Squawk on the Street' to discuss the impact of rate cuts on banks, what will happen with loan demand, and more.

Persons: RBC's Gerard Cassidy Gerard Cassidy Organizations: RBC Capital Markets

☆ BOJ likely to hike rates in January, economist says
▼ + stars: | 2024-09-20 | 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 EmailBOJ likely to hike rates in January, economist saysKazuo Momma, executive economist at Mizuho Research & Technologies, explains why the Bank of Japan has "no reason" to "rush" into a rate-hiking cycle and will likely be "patient" until January.

Persons: Kazuo Momma Organizations: Mizuho Research & Technologies, Bank of Japan

☆ China's yuan jumps to 16-month high, state banks step in to curb gains
▼ + stars: | 2024-09-20 | by ( ) www.cnbc.com time to read: +2 min

China's yuan rose to its strongest level in nearly 16 months on Friday on bets that Beijing will unveil fresh economic stimulus following a jumbo U.S. rate cut, though gains were capped by dollar buying from Chinese state banks. The onshore yuan strengthened to as much as 7.0420 per dollar, the firmest level since May 24, 2023, on track for a six-session rising streak. The Fed cut rates by a larger than usual 50-basis-points on Wednesday. On Friday, China's major state-owned banks were seen buying dollars in the onshore market to prevent the yuan from appreciating too fast. Prior to the market opening, the People's Bank of China set the midpoint rate at 7.0644 per dollar, its strongest in nearly 16 months.

Persons: recouping, Zhiwei Zhang, Yang Fan Organizations: Citic Securities, People's Bank of Locations: Beijing, China, U.S, People's Bank of China

☆ Pfizer is a bottoming stock that will pay you to wait for the comeback, says Carter Worth
▼ + stars: | 2024-09-20 | by ( Carter Braxton Worth | ) www.cnbc.com time to read: +2 min

Former pharmaceutical champion Pfizer (PFE) , down 52% from its December 2021 all-time high, is judged to be in the throes of a "bearish-to-bullish" Reversal. Pfizer, the laggard the past year: Is now... Pfizer, the leader the past month: By our work, PFE represents a compelling "value play". And with a 5.73% dividend yield, one "gets paid" to wait as the stock continues to bottom. THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.

Persons: Carter Braxton Worth Organizations: Pfizer, pharma, Pharmaceuticals Industry Group, CNBC, NBC UNIVERSAL

☆ Katy Perry's '143' doesn't have a single redeeming song
▼ + stars: | 2024-09-20 | by ( Callie Ahlgrim | ) www.businessinsider.com time to read: +7 min

Read previewIf you're a pop-music fan who spends time on the internet, you'll probably see a slew of negative reviews for Katy Perry's new album, "143." Lester Cohen/WireImageEven if you set aside the allegations against Dr. Luke, "143" doesn't make a strong case for his input. Without them, Dr. Luke and his new associates have created a pop vacuum, completely devoid of heart and personality. "Gimme Gimme," the second track featuring 21 Savage, immediately recalls the plinky snoozefest of Justin Bieber's "Changes," particularly the Quavo duet "Intentions." Final grade: 1.8/10Katy Perry's new album "143" consists of 11 standard tracks.

Persons: —, you'll, Katy Perry's, Perry, they'd, Luke, Rocco Valdes —, Dr, hadn't, Kesha, countersued, Alex Cooper, Valdes, Aaron Joseph, Vaughn Oliver, Theron Thomas, Luke's, Kemosabe signees, Perry didn't, Katy Perry, Cirkut, Lester Cohen, Max Martin, Benny Blanco, Savage, Justin Bieber's, Luke disciple Kim Petras, Kylie Minogue knockoff, JID, who's, We're, syrupy, Kim Petras Organizations: Service, Business, Kemosabe Records, Capitol Records, Capitol Records Worth, Press Locations: California

☆ Ukraine expects the war to see exponentially more 'iron soldiers,' or ground drones with guns that can fill troop roles
▼ + stars: | 2024-09-20 | by ( Matthew Loh | ) www.businessinsider.com time to read: +1 min

Ukraine's intelligence chief predicted that ground drones in battle will increase "in the order of tens" this year. Kyrylo Budanov said much of Ukraine's impetus for these drones is to avoid sending troops to die. Some of Ukraine's experimental ground drones, which it calls "iron soldiers," can be fit with guns or explosives. Go to newsletter preferences Thanks for signing up! AdvertisementUkrainian intelligence chief Kyrylo Budanov expects the war to enter a new phase — one that will see far more land-based drones replacing soldiers on the front lines.

Persons: Kyrylo Budanov, —, Budanov Organizations: Service, Yalta European Locations: Yalta, Kyiv

The longest video shows three Israeli soldiers standing on a rooftop. “This is a serious incident that does not coincide with IDF values and the expectations from IDF soldiers,” the military said in a statement to CNN. The governor of Jenin, Kamal Abu Al-Roub, told CNN that the Israeli military took four bodies from Qabatya. “Soldiers went up and kicked and pushed the bodies off the roof, as we have seen. The Israeli military has in recent weeks used increasingly militarized tactics in the occupied West Bank.

Persons: Kamal Abu Al, Ameed, ”, “ Soldiers, “, Mustafa Barghouti, Lauren Izso, Tim Lister Organizations: Jerusalem CNN, West Bank, Israel Defense Forces, Associated Press, CNN, Al, IDF, Israeli Security Agency, Palestinian Ministry of Health, Palestine Red Crescent Society Locations: Jerusalem, Qabatya, Jenin, Qabatiya, Palestinian, Palestine

☆ What does the Fed’s interest rate cut mean for homeowners and potential buyers?
▼ + stars: | 2024-09-20 | by ( Samantha Delouya | ) edition.cnn.com time to read: +1 min

CNN —On Wednesday, the Federal Reserve cut interest rates for the first time since the early days of the COVID-19 pandemic, slashing its benchmark rate by half a percentage point and signaling more rate cuts by the end of the year. The supply of homes for sale hasn’t kept up with demand as homeowners who locked in ultra-low pandemic-era mortgage rates were less willing to sell their homes in a higher mortgage rate environment. Some experts believe falling rates could entice more homeowners to put their homes up for sale. In the past few months, rates have steadily fallen in anticipation of interest rate cuts. Does the Fed’s recent interest rate cut and the potential for more rate cuts in the future change your outlook as a homeowner or a potential homebuyer?

Persons: hasn’t, Freddie Mac Organizations: CNN, Federal Reserve

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