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☆ Battleground stocks: Wall Street is completely divided on these controversial names
▼ + stars: | 2024-09-19 | by ( Brian Evans | ) www.cnbc.com time to read: +4 min

Forty-one percent of analysts polled by FactSet have a buy rating on Tesla stock, while 21% have a sell rating. About 43% of analysts surveyed by FactSet maintain a buy rating on IBM stock, but 21% are at a sell. He also noted that the risk-to-reward skew on IBM stock is more balanced, leaving less upside for the stock. IBM YTD mountain IBM stock. Goldman Sachs recently added IBM to its conviction list with a $220 price target, or 2% above where shares closed Wednesday.

Persons: Tesla, TSLA, Wolfe Research's Emmanuel Rosner, Rosner, Morgan Stanley, Adam Jonas, Jonas, Elon Musk, Bernstein's Toni Sacconaghi, Sacconaghi, Goldman Sachs, Jim Schneider, Campbell Soup Organizations: CNBC Pro, FactSet, U.S, automakers, IBM, Pepperidge

☆ Champions League Wednesday takeaways: PSG gets lucky, Manchester City and Inter misfire
▼ + stars: | 2024-09-19 | by ( George Ramsay | ) edition.cnn.com time to read: +6 min

CNN —The first round of Champions League matches continued on Wednesday with two of the competition’s biggest names – Manchester City and Paris Saint-Germain – in action. It was only thanks to an error from Girona goalkeeper Paulo Gazzaniga that PSG, beginning its latest quest for a maiden Champions League title, claimed the narrow victory in the 90th minute. City and Inter play out goalless draw in rematch of 2023 finalThe rematch of the 2023 Champions League final was expected to be the most exciting game of the night, seeing the English and Italian champions go head-to-head. Paul Ellis/AFP/Getty Images“We have the advantage to play at home, but I admire teams (like Inter) who defend well,” said City manager Pep Guardiola. Shakhtar, which will play its Champions League home games in Germany this season, had the best scoring chance early in the match, but Georgiy Sudakov’s penalty was saved by Bologna goalkeeper Łukasz Skorupski.

Persons: Germain –, Here’s, ”, Luis Enrique’s, Paulo Gazzaniga, Gazzaniga, Nuno Mendes, Ousmane Dembélé, Ladislav Krejčí’s, Enrique, Kylian Mbappé, “, “ They’re, doesn’t, İlkay Gündoğan, Yann Sommer, Erling Haaland, Kevin De Bruyne, Simone Inzaghi, Paul Ellis, Pep Guardiola, Jamie Gittens, Marcel Sabitzer, Gittens ’, Serhou Guirassy, Georgiy, Łukasz Skorupski, Giovanni Fabbian, Dmytro Riznyk, Tullio Puglia, Germain Organizations: CNN, League, Manchester City, Paris Saint, Europe, PSG bemoans, PSG, Girona, Champions League, Parc des Princes, Real, City, Inter, City –, Istanbul –, Inter Milan, Etihad, Man, Getty, Arsenal, Premier League, Milan, Derby, Madonnina, Borussia Dortmund, Club Brugge, Brugge, Dortmund, Schwarzgelben, Shakhtar Donetsk, Bologna, Shakhtar, UEFA, Shakhtar Donetsk Sparta Prague, Salzburg Paris Saint, Borussia Dortmund Celtic, Slovan Bratislava Manchester City Locations: Paris, Parc des, Real Madrid, Istanbul, AFP, England, Ukraine, Germany, Italy, Bologna

☆ The Fed's interest-rate cut put Trump even more at odds with the central bank
▼ + stars: | 2024-09-19 | by ( Ayelet Sheffey | Brent D. Griffiths | ) www.businessinsider.com time to read: +5 min

On Wednesday, the Federal Open Market Committee announced an interest-rate cut of 50 basis points, the first cut Americans have received in over four years. AdvertisementHe's argued in the past that the Fed would only cut rates close to the election to aid Democrats, which he reiterated leading up to the central bank's announcement. Trump sought to use his presidential power to appoint members to the Fed board who supported his unorthodox views of the central bank. Trump has flip-flopped his views on his most important appointment to the Fed: Powell. Trump's tepid support of Powell underlines just how mercurial he can be when it comes to the central bank.

Persons: —, Donald Trump isn't, Jerome Powell, Trump, they're, He's, Powell, Judy Shelton, Shelton, Sen, Susan Collins, Herman Cain, Stephen Moore, Michelle Bowman, Christopher Waller, he's, reappoint Powell, Trump hasn't Organizations: Service, Federal, Market Committee, Democratic, Business, Federal Reserve, Street, Trump, Bloomberg, Fox, Fed, Governors, Maine Republican, Fed Board, Bloomberg News Locations: New York, Michigan, Maine

☆ Ray Dalio says the Fed faces a tough balancing act as the economy faces 'enormous amount of debt'
▼ + stars: | 2024-09-19 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +3 min

Ray Dalio, Bridgewater Associates co-chairman and co-chief investment officer, speaks during the Skybridge Capital SALT New York 2021 conference. Brendan McDermid | ReutersAs the U.S. Federal Reserve implemented its first interest rate cut since the early Covid pandemic, billionaire investor Ray Dalio flagged that the U.S. economy still faces an "enormous amount of debt." The central bank's decision to cut the federal funds rate by 50 basis points to a range of 4.75% to 5%. On Wednesday, Dalio listed debt, money and the economic cycle as one of the top five forces influencing the global economy. The country's central bank only recently lifted interest rates in March this year.

Persons: Ray Dalio, Brendan McDermid, CNBC's, Dalio, Donald Trump, Kamala Harris Organizations: Bridgewater Associates, Reuters, U.S . Federal Reserve, Federal, U.S . Treasury Department Locations: U.S, Japan

☆ We spent over $54,000 renovating our house — but these 5 cheap upgrades actually made the biggest difference
▼ + stars: | 2024-09-19 | by ( Melissa Noble | ) www.businessinsider.com time to read: +4 min

Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewWhen we purchased a three-bedroom fixer-upper in Melbourne, Australia, in 2017, we couldn't wait to move in and get started renovating. Over the course of three years, we spent just over $80,000 Australian dollars, about $54,000, transforming it into our dream home. Here are five fairly low cost upgrades that really boosted our property's appeal and got many compliments from friends and family. AdvertisementIt only cost about AU$200 to make, but it really added to the property's street appeal.

Persons: —, Cameron Church Organizations: Service, Business Locations: Melbourne, Australia

☆ The Stretch Limo, Once a Luxury Transportation Option, Is Dead
▼ + stars: | 2024-09-19 | by ( Emily Stewart | ) www.businessinsider.com time to read: +12 min

It used to be that you saw a stretch limousine and excitedly wondered who was inside — maybe a corporate executive or a celebrity or some other classy, mysterious type. The limo industry isn't dead; it's just leaving the classic black stretch version of itself behind. Trade shows and expos for limousines and luxury transportation no longer have many, if any, actual classic stretch limos on their floors. He said they keep a stretch limo around for nostalgia's sake more than anything. A CEO gallivanting around in his or her fancy stretch limousine is gross.

Persons: They've, Joe Reinhardt, He's, they're, Brett Barenholtz, Michael Douglas, Richard Gere, Mercedes, van, Scott Michael, Robert Alexander, Alexander, promgoers, Barenholtz, It's, Reinhardt, Chris Weiss, hasn't, crouch, Weiss, " Weiss, Emily Stewart Organizations: We're, Carolina Limousine, CLC Worldwide, National Limousine Association, Consumers, Benz Sprinter, United Motorcoach Association, RMA, Trade, expos, Cadillac, Lincoln, Facebook, Mercedes, ABC, NLA, Business Locations: Myrtle Beach, South Carolina, Maine, Boston, —, Washington , DC, California, New York, limos, Franken, It's

Amelia is the latest generative AI tool that Amazon has brought to market in the past year as it seeks to capitalize on the hype sparked by OpenAI's ChatGPT. The company has introduced an AI-powered shopping assistant named Rufus, a chatbot for businesses dubbed Q and Bedrock, a generative AI service for cloud customers. More than 400,000 of Amazon's millions of third-party sellers have used its AI listing tool, up from 200,000 in June, he said. With Amelia, Amazon is counting on generative AI to help with a key issue for third-party merchants — account troubleshooting. Amazon said the tool uses retrieval-augmented generation, or RAG, a popular AI industry framework that combines generative AI with long-established methods of information retrieval.

Persons: Nathan Stirk, Amelia, OpenAI's ChatGPT, Rufus, Anthropic, Andy Jassy, Jassy, Thos Robinson, it's, Dharmesh Mehta, Mehta Organizations: Getty, Central, CNBC, New York Times, Google, Microsoft, Merchants Locations: New York City, Seattle .

John Donahoe, CEO of Nike, attends the annual Allen and Co. Sun Valley Media and Technology Conference at the Sun Valley Resort in Sun Valley, Idaho, U.S., July 10, 2024. Nike on Thursday announced that its CEO John Donahoe is stepping down and company veteran Elliott Hill is coming out of retirement to take the helm of the sneaker giant. Donahoe, who has been Nike's CEO since Jan. 2020, will retire from his position on Oct. 13. But on Thursday, Knight said in a statement that he is excited to welcome Hill back to the team. We've got a lot of work to do but I'm looking forward to seeing Nike back on its pace."

Persons: John Donahoe, Elliott Hill, Elliott, Nike's, Mark Parker, Donahoe, Phil Knight, Knight, We've Organizations: Nike, Allen, Co, Sun Valley Media, Technology Conference Locations: Sun Valley , Idaho, U.S, China

☆ A new housing plan wants to give middle-class Americans the kind of support typically reserved for low-income households
▼ + stars: | 2024-09-19 | by ( Eliza Relman | Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

The HOMES Act would establish a new federal housing development authority charged with building and rehabilitating more than a million permanently affordable homes. This so-called "social housing" is notably different from traditional public housing, which is entirely reserved for the poorest households. Rent for all tenants in social housing would be capped at 25% of their income. "There is another way: social housing," Ocasio-Cortez and Smith said in their op-ed. And in California, lawmakers introduced a bill to construct mixed-income social housing on government-owned land.

Persons: —, Alexandria Ocasio, Sen, Tina Smith, Cortez, Gianpaolo Baiocchi, Smith, Baiocchi, Emily Gallagher's, Kamala Harris, she's, Donald Trump, Smith —, Harris, Walz Organizations: Service, New, New York Democrat, Minnesota Democrat, Senate, Business, Urban Democracy Lab, New York Times, New York Locations: Alexandria, Cortez, New York, Minnesota, New, California, Vienna

☆ Influencer couple denies leaving kids alone on cruise
▼ + stars: | 2024-09-19 | by ( Julia Buckley | ) edition.cnn.com time to read: +4 min

CNN —For most people, dinner on a cruise ship is a time to relax. The couple thanked their family for helping to watch the children during the cruise, and also thanked the public. Cruise ship childcareMany cruise lines offer childcare options. “It is generally not safe for a child under eight to be left alone at home, and a cruise ship cabin is no different,” he said. There are just too many unexpected things that could happen when children are left alone in a cruise cabin or hotel room.”

Persons: Abby, Matt Howard, Abby Howard, ”, muchhhh, Howard, Abby’s, “, “ We’re, It’s, Matt Thiemann, Thiemann Organizations: CNN, ” CNN, Howards, Royal Caribbean’s, Royal Caribbean, MSC Cruises, tots, Holland America Locations: Arizona, Holland

☆ Child-free spaces, dirty looks on planes and ‘breeders’: Why people seem so annoyed by kids in public
▼ + stars: | 2024-09-19 | by ( Harmeet Kaur | ) edition.cnn.com time to read: +12 min

CNN —In some corners of society, there appears to be a shift in the way people talk about kids. Every so often, a provocative social media post sets off predictably polarizing discourse about the presence of children in daily life. The implication (joking or otherwise) is that children are a nuisance and adults shouldn’t have to endure them if they don’t want to. The people behind them aren’t part of some organized movement nor are they actually lobbying for the exclusion of children from public spaces. Rather, Berg understands online disdain for kids partly as a performative response to rhetoric from political and religious conservatives.

Persons: snarkily, ”, shouldn’t, Mariah Maddox, —, Elinor Burkett, Boon, “, Lisa Belkin, Jason Lancaster, Anastasia Berg, Rachel Wiseman, Berg, JD Vance’s, Pope Francis, aren’t, Jessica J, June Carbone, Carbone, ” Carbone, Yolanda Williams, glared, ” Williams, Lauren Kavan, She’s, Kavan, ‘, ’, Jessica Calarco Organizations: CNN, Friendly, New York Times Magazine, University of Wisconsin, Madison, “, tote Locations: Ohio, Nebraska, Berg

CNN —A senior adviser to Israeli Prime Minister Benjamin Netanyahu has presented to the Biden administration a new proposed ceasefire and hostage deal with Hamas, an Israeli official told CNN. Reactions to the proposal have widely been that it will be a non-starter for Hamas, which has not commented on it. It is unclear whether the proposal addresses the presence of Israeli troops in Gaza after a ceasefire and hostage deal – a key sticking point in stalled negotiations. The Hostages Families Forum, which has been scathing about Netanyahu’s approach to hostage negotiations, welcomed the proposal. They cited Israel’s assassinations of Hamas leaders in foreign capitals, and said they believed Sinwar would prefer to die fighting Israel than to leave Gaza.

Persons: CNN —, Benjamin Netanyahu, Biden, Gal Hirsh, Netanyahu, Yahya Sinwar, Kan, Joe Biden’s, Hirsh, Roger Carstens, Gershon Baskin, Sinwar, ”, ” Baskin, Hitler, ” Hirsh Organizations: CNN, Hamas, Families, United Nations General Assembly Locations: Gaza, Israel, Israeli, Lebanon, New York, “

☆ Analysis: Hezbollah leader Hassan Nasrallah’s speech shows signs of a group driven deeper underground
▼ + stars: | 2024-09-19 | by ( Tamara Qiblawi | ) edition.cnn.com time to read: +5 min

The second sign was that Nasrallah’s address – his first since two waves of attacks detonated thousands of Hezbollah wireless devices earlier this week – was very possibly pre-recorded. The leader of the powerful militant group has not delivered a speech in person since the start of Lebanon’s last all-out war with Israel in 2006. In his speech last month, for example, Nasrallah referenced two sonic booms caused by Israeli jets that had broken the sound barrier over Beirut. The roar reverberated throughout the city yet the Beirut-based militant leader neither flinched nor referenced the incident during his speech. Israel’s fighter jets seemed intent to underscore the gains of Tuesday and Wednesday’s attacks on Hezbollah’s wireless devices: the group had been driven deeper underground.

Persons: –, Hassan Nasrallah, Nasrallah, ”, Mohamed Azakir, Reuters Nasrallah, “ We’ve, “, group’s Organizations: Beirut CNN, ”, American University of, American University of Beirut Medical Center, Reuters, of Locations: Beirut, Israel, Lebanon, American University of Beirut, Gaza

☆ Fantasy football feud leads to fake bomb threat, international investigation and federal charges, prosecutors say
▼ + stars: | 2024-09-19 | by ( Josh Campbell | Elizabeth Wolfe | ) edition.cnn.com time to read: +3 min

Gabriel wrote that the fellow fantasy football player was “headed around Oslo and has a shooting planned with multiple people on his side involved. Law enforcement officers in Norway and the US dedicated five days and hundreds of hours to investigating the threat, prosecutors said. While investigating Gabriel for the international hoax in Norway, prosecutors said they learned that Gabriel emailed another fictitious threat earlier this year – this time to the University of Iowa. In March, Gabriel emailed the university indicating the same fantasy football group member was threatening to “blow up the school,” which Gabriel knew was untrue, prosecutors said. Romero warned in her statement that hoax threats are a crime.

Persons: Matthew Gabriel, Gabriel, “, ”, Jacqueline Romero, ” Gabriel, Romero, ’ ” Organizations: CNN, Philadelphia, US Justice Department, US, Office, Eastern, Eastern District of, Norwegian Police Security Service, FBI, University of Iowa, Eastern District of Pennsylvania Locations: Philadelphia, Eastern District, Eastern District of Pennsylvania, Norway, Oslo

☆ Turbulent skies of Vincent Van Gogh’s ‘The Starry Night’ may align with a scientific theory
▼ + stars: | 2024-09-19 | by ( Katie Hunt | ) edition.cnn.com time to read: +8 min

CNN —The dappled starlight and swirling clouds of Vincent van Gogh’s “The Starry Night” are thought to reflect the artist’s tumultuous state of mind when he painted the work in 1889. Now, a new analysis by physicists based in China and France suggests the artist had a deep, intuitive understanding of the mathematical structure of turbulent flow. Batchelor’s scaling mathematically represents how small particles, such as drifting algae in the ocean or pieces of dust in the wind, are passively mixed around by turbulent flow. “I think this physical relationship must be embedded in his mind so that’s why when he made this famous ‘Starry Night’ painting, it mimics the real flow,” Huang said. “What I take away from studies like this is that (van Gogh) captured some of this universality in the beautiful (‘Starry Night’),” Beattie added.

Persons: Vincent van Gogh’s, ”, Yongxiang Huang, Van Gogh, mutilating, van Gogh's, Huang, Andrey Kolmogorov, John Constable, De Agostini, James Beattie, Beattie wasn’t, van Gogh, ” Huang, Beattie, “, Van Gogh’s, Yinxiang, Gogh, ” Beattie Organizations: CNN, State Key Laboratory of Marine Environmental Science & College of Ocean, Sciences, Xiamen University, Princeton University, NASA's, NASA Goddard Space, NASA’s, Museum of Modern Art Locations: China, France, Saint, Provence, Soviet, Brighton, British, New Jersey, New York

☆ Secret Service is investigating Elon Musk's 'Biden/Kamala' assassination tweet
▼ + stars: | 2024-09-19 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +4 min

Read previewThe Secret Service is looking into Tesla CEO Elon Musk's tweet that questioned why no one was trying to assassinate President Joe Biden or Vice President Kamala Harris. According to Bloomberg News, the Secret Service declined to release information related to Musk's tweet over the weekend due to "enforcement proceedings." A Secret Service spokesperson said the agency knew of Musk's message but would not be offering further comment. As Bloomberg pointed out, the Secret Service often investigates direct and implied threats against the people they protect, including Biden and Harris. AdvertisementMost often, the worst that comes of it is a visit from a Secret Service officer.

Persons: —, Elon Musk's, Joe Biden, Kamala Harris, Donald Trump, Biden, Kamala, elissa M cKenzie,, ince, egan, ake, hite Organizations: Service, Bloomberg News, Business Locations: usk, ried, ut

☆ From mortgages to auto loans, experts weigh in on when — or if — to refinance as interest rates fall
▼ + stars: | 2024-09-19 | by ( Jessica Dickler | ) www.cnbc.com time to read: +3 min

So, home loan rates may continue to fluctuate. Don't wait to reassess credit card debtWhen it comes to credit card debt, the math is a little more cut-and-dried. In the wake of the rate hike cycle, the average credit card rate rose from 16.34% in March 2022 to more than 20% today — nearing an all-time high. watch nowAlternatively, borrowers can call their card issuer and ask for a lower interest rate on their current card. Auto loan refinancing options depend on equityAlthough auto loans are fixed, the rates on new-car loans will come down with the Fed's moves.

Persons: Jacob Channel, Matt Schulz, Schulz, you've, Ivan Drury, Edmunds Organizations: Treasury, LendingTree, Auto

☆ Investors should be hesitant to dive into stocks after the rate cut, with election uncertainty looming, Fundstrat's Tom Lee says
▼ + stars: | 2024-09-19 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

But after Wednesday's big 50 basis point cut, Lee says he sees uncertainty looming ahead of the election. AdvertisementProminent stock market bull Tom Lee has long called for a big rally after the Federal Reserve cuts interest rates. But after a big 50 basis point cut on Wednesday, Lee says he's feeling cautious ahead of the November election. That rally would happen regardless of a 25 or 50 basis point cut, he said, if the Fed suggested future cuts are likely. With election-related volatility ahead, Lee recommends investing in cyclical stocks in areas like industrials, financials, and small caps.

Persons: Tom Lee, Lee, —, SoFi's Liz Young Thomas Organizations: Federal Reserve, Service, Fundstrat Global Advisors, CNBC, Fed, Business

☆ Lebanon attacks: What we know about the pager and walkie-talkie explosions
▼ + stars: | 2024-09-19 | by ( Jessie Yeung | ) edition.cnn.com time to read: +8 min

CNN —Lebanon is reeling after facing deadly back-to-back attacks targeting Hezbollah members – with pagers simultaneously exploding across the country on Tuesday, then walkie-talkies detonating in a similar fashion on Wednesday. At least 22 people, including children, have died so far from the two attacks, which Lebanese officials have blamed on Israel. Firefighters put out flames and a crowd gathers after a reported explosion in Saida, Lebanon, on September 18, 2024. How have Hezbollah, Israel and the world responded? It appears US officials were largely in the dark until reports emerged of the explosions, according to three sources familiar with the matter.

Persons: pagers, Mahmoud Zayat, Benjamin Netanyahu, Israel, Mohamed Azakir, ICOM, “, Abdallah Bou Habib, Yoav Gallant, ” Gallant, ” Organizations: CNN, pagers, Firefighters, Getty, Hamas, American University of, American University of Beirut Medical Center, The New York Times, NBC News, Lebanon’s, United Nations Security Council, Israeli, UN, ”, Human Rights Watch Locations: Lebanon, Israel, Beirut, Iran, Saida, AFP, Gaza, Yemen, Syria, Iraq, Israeli, American University of Beirut, Asia, Europe, Hungarian, Budapest, United States

☆ Over half of the Air Force's Osprey fleet has been cleared to fly after a deadly crash prompted a military-wide grounding
▼ + stars: | 2024-09-19 | by ( Thomas Novelly | ) www.businessinsider.com time to read: +7 min

The news comes less than a year after a deadly November CV-22 Osprey crash in Japan that claimed the lives of eight airmen. AdvertisementJapan Ground Self-Defense Forces soldiers disembark from a V-22 Osprey aircraft. Debris believed to be from a US military Osprey aircraft is seen in waters off the coast of Yakushima Island. The cause of the Japan crash was determined to be the fracturing of a high-speed planetary pinion gear in the aircraft's prop rotor gearbox. US Air Force photo/Senior Airman Christopher CallawayThe Gundam 22 crew did press on after the chip burn lights and did not violate their training.

Persons: —, Michael Conley, that's, We've, Conley, YUICHI YAMAZAKI, Military.com, Jeffrey Hoernemann, Eric Spendlove, Luke Unrath, Terrell Brayman, Zachary Lavoy, Jake Turnage, Brian Johnson, Jake Galliher, Carl Chebi, NAVAIR, we've, Bell, Christopher Callaway, AFSOC, Amber Sax, John Sax, Sax, Konstantin Toropin Organizations: Service, Special, Command, Air, Space Force Association, Business, Defense Forces, Getty, Naval Air Systems Command, Program, Ospreys, Air Force, Osprey, Japan Coast Guard, AP, Air Force Special Operations Command, Tech, Staff, Pentagon, Bell, Boeing, US Air Force, Gundam, Marine Corps Locations: Washington, Japan, Yakushima Island, California

☆ Titan submersible malfunctioned days prior to the fatal dive, former scientific director testifies
▼ + stars: | 2024-09-19 | by ( Alaa Elassar | Graham Hurley | ) edition.cnn.com time to read: +2 min

CNN —A former OceanGate scientific director said the Titan submersible suffered a malfunction six days before imploding in June 2023, killing all five people on board. The dive was aborted because, upon resurfacing, a platform malfunction caused by an issue with the variable ballast tank, which controlled the submersible’s buoyancy, caused the platform to invert to 45 degrees with the back bow facing upward. Because the platform malfunction took considerable time to correct, the dive was aborted and they returned to the surface to fix the issue. He said he knew the Titan submersible had not been inspected by the United States Coast Guard in 2021, 2022 or 2023. Ross also mentioned two incidents during the 2022 Titanic expedition dives, including a loud bang heard while surfacing in Dive 80.

Persons: CNN —, Steven Ross, ” Ross, Rush, Ross, could’ve, Scott Griffith, Griffith Organizations: CNN, Titan, imploding, Stockton Rush, United States Coast Guard

☆ One number shows why the economy might not get the immediate relief many hope for
▼ + stars: | 2024-09-19 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

That rate is the 10-year US Treasury yield, a key lending benchmark for everything from mortgages to corporate debt. "The reaction within Treasury markets was most telling yesterday," Reinking said. AdvertisementHowever, it also means the 10-year Treasury is moving higher since the decision. The 10-year Treasury yield is a lending benchmark for everything from home loans to corporate debt. "That's positive for the economy, and in that case yields should be higher.

Persons: —, Michael Reinking, Reinking, Freddie Mac, Inki Cho, Sonu Varghese, Carson, Jerome Powell's, Varghese Organizations: Service, Federal, Treasury, Business, New York Stock Exchange, Fed

☆ Ron Insana: Federal Reserve chair Jerome Powell unnecessarily complicated the outlook for interest rate policy
▼ + stars: | 2024-09-19 | by ( Ron Insana | ) www.cnbc.com time to read: +4 min

In the spirit of ESPN's Monday Night Countdown, a word to Federal Reserve Chairman, Jay Powell ... "C'Mon Man!" While the markets have rebounded nicely on Thursday, it seems to me that Federal Reserve chair Jay Powell unnecessarily complicated the outlook for interest rate policy on Wednesday by saying the Fed will decide, meeting by meeting, what to do next. Meanwhile, long-term interest rates, after having fallen for weeks in anticipation of a half-point cut, which the Fed delivered, have actually moved up a bit. I'm not entirely certain but I suspect it's the lack of clear direction on future rate policy that is the culprit. In those days, the Fed was loathe to discuss its actions publicly and only signaled to markets what it had done with respect to interest rate policy a considerable time after the action was undertaken.

Persons: Jay Powell, Powell, Paul Volcker Organizations: Federal, Fed Locations: China

☆ Elon Musk’s X and Starlink face nearly $1 million in daily fines for alleged ban evasion in Brazil
▼ + stars: | 2024-09-19 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +4 min

Elon Musk's X faces steep daily fines in Brazil for allegedly evading a ban on the service there, according to a statement from the country's supreme court on Thursday. The court said it would continue to impose "joint liability" on Starlink, the satellite internet service owned and operated by SpaceX, Musk's aerospace venture. Brazil previously withdrew money for fines it levied against X from the accounts of X and Starlink at financial institutions in the country. X said it wasn't intending to restore access for Brazilian users. Before the suspension, X had an estimated 22 million users in Brazil, according to Data Reportal.

Persons: Elon Musk's, Brazil's, Alexandre de Moraes, X, de Moraes, Darth Vader, Harry Potter, Voldemort, Musk, Correio, Cloudflare didn't Organizations: Supremo, Federal, SpaceX, Cloudflare, CNBC Locations: Brazil, India, Turkey, Hungary

☆ The Fed is following its 1995 playbook — and that's great news for stocks and the economy
▼ + stars: | 2024-09-19 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The Fed looks like it's following the same path it did in 1995, according to TS Lombard. It's also great news for stocks, as the S&P 500 more than doubled in value that decade. AdvertisementThe Fed is following a 30-year-old playbook with its interest rate moves — and that's good news for the US economy, according to TS Lombard. Stocks soared a day after the big rate cut. Despite wobbling in the hours after the Fed's rate move, the major indexes hit fresh records in Thursday trades.

Persons: It's, —, Dario Perkins, Perkins, Stocks Organizations: TS Lombard, Service, Fed, American Institute for Economic Research, Cleveland Fed

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