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☆ Fed Chair Powell: Housing inflation is the one area that is 'dragging a bit'
▼ + stars: | 2024-09-18 | 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 EmailFed Chair Powell: Housing inflation is the one area that is 'dragging a bit'Federal Reserve Chair Jerome Powell takes questions from reporters after announcing that the Central Bank has lowered interest rates by half a point, its first cut since 2020.

Persons: Powell, Jerome Powell Organizations: Central Bank

☆ Home buyers are holding their breath for rate cuts as existing home sales plunge to lowest since the pandemic
▼ + stars: | 2024-09-18 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +1 min

Existing home sales in August reached their lowest level since May 2020, according to Redfin. Redfin says buyers are waiting to see if mortgage rates fall further as the Fed cuts interest rates. Go to newsletter preferences Thanks for signing up! AdvertisementBuyers are back on the sidelines as they wait to see if mortgage rates fall further after , a Redfin report shows. That's the lowest level since the pandemic stalled home sales in May 2020, and discounting that month, it's the lowest level on record since 2012.

Persons: Redfin, — Organizations: Service, Business

☆ Treasury yields inch higher as investors look to Fed rate decision
▼ + stars: | 2024-09-18 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

The 2-year Treasury yield was last at 3.6046% after adding over one basis point. U.S. Treasury yields were little changed on Wednesday as all eyes were on the Federal Reserve's interest rate decision expected for later in the day. The focus on Wednesday will be on the Federal Reserve's latest interest rate decision and guidance for the monetary policy outlook. While a interest rate cut is all but guaranteed, traders are divided about the size of the rate reduction. Investors are also hoping for hints about what Fed interest rate policy could look like for the remainder of the year and if more cuts are on the horizon.

Persons: Jerome Powell, Dow Jones Organizations: Treasury, Federal, Investors

☆ I added my divorce to my LinkedIn profile — here's why
▼ + stars: | 2024-09-18 | by ( Karl Dunn | ) www.businessinsider.com time to read: +6 min

My divorce was the worst job I've ever had. So, like any job I've had, I decided to put my divorce on my LinkedIn résumé. I added my divorce to my LinkedIn 2 weeks agoDivorce hits different people differently. When I had the idea to put my divorce on my LinkedIn, I debated it for weeks. AdvertisementSo while divorce was the worst job I ever had, it was also one of my greatest teachers, which is why I put it on my CV.

Persons: —, I've, That's, couldn't, doesn't, who's, I'd, Karl Dunn Organizations: Service, Business, Hearst Publications, LinkedIn Locations: America, California, Berlin, Los Angeles

☆ The Fed goes big — a nice jumpstart to lowering mortgage rates and boosting housing plays
▼ + stars: | 2024-09-18 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

The Fed was widely expected to lower short-term interest rates, but the 25 basis points versus 50 debate raged right up until the announcement. Mortgage rates: We talked last week during our September Monthly Meeting about how housing activity can start to pick up when mortgage rates fall off their cycle highs to somewhere in the range between 5% and 6.5%. However, what the data shows is how sensitive activity is to every dip in mortgage rates. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Jerome Powell, Stanley Black, Decker, Mortgage Banks, Jim Cramer's, Lisa Su, Oliver Garden, Jim Organizations: CNBC, ., Federal Reserve, Stanley, Mortgage, Micro, LongHorn, Darden, Jim Cramer's Charitable

☆ JPMorgan creates new role overseeing junior bankers as Wall Street wrestles with workload concerns
▼ + stars: | 2024-09-18 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

JPMorgan Chase has created a new global role overseeing all junior bankers in an effort to better manage their workload after the death of a Bank of America associate in May forced Wall Street to examine how it treats its youngest employees. The firm named Ryland McClendon its global investment banking associate and analyst leader in a memo sent this month, CNBC has learned. The move shows how JPMorgan, the biggest American investment bank by revenue, is responding to the latest untimely death on Wall Street. Later that month, JPMorgan CEO Jamie Dimon said his bank was examining what it could learn from the tragedy. Exceptions can be made for live deals, said the person, who declined to be identified speaking about the internal policy.

Persons: Jamie, JPMorgan Chase, Wall, Ryland McClendon, McClendon, Bank of America's Leo Lukenas III, Jamie Dimon, JPMorgan's Organizations: JPMorgan Chase, U.S . Senate Banking, Housing, Urban Affairs, Wall, Capitol, Washington , D.C, JPMorgan, Bank of America, CNBC, Associates, Bank of America's Locations: Washington ,

☆ A Texas baby boomer who retired at 60 and moved to Mexico says housing, food, and a good life are cheaper, but gas is more expensive
▼ + stars: | 2024-09-18 | by ( John Towfighi | ) www.businessinsider.com time to read: +7 min

After taking two trips to Puerto Vallarta, Bartmess was convinced it was the perfect place to retire. His first trip to Puerto Vallarta was in 1976, and he said he had fond memories there. He said a fill-up of his Jeep Wrangler costs about $60 in Puerto Vallarta. In retirement, Bartmess has spent more time working on his creative writing, and he takes part in a Puerto Vallarta writers group. Bartmess has lived in Puerto Vallarta for 14 years and said he has no plans to leave.

Persons: —, Geary Bartmess, Bartmess, he's, Geary Bartmess Bartmess, Geary, He'd Organizations: Service, Social Security Administration, Business, Medicare, Puerto Vallarta Locations: Puerto Vallarta, Houston, Mexico, Canada, Japan, Texas, Puerto, American, Camarones

☆ Sean ‘Diddy’ Combs to appeal his bail denial Wednesday in racketeering conspiracy and sex trafficking case
▼ + stars: | 2024-09-18 | by ( Dalia Faheid | ) edition.cnn.com time to read: +9 min

CNN —Sean “Diddy” Combs is expected Wednesday afternoon to appeal a federal judge’s decision to hold the hip-hop artist and music mogul without bail after he pleaded not guilty in federal court to charges of racketeering conspiracy, sex trafficking and transportation to engage in prostitution Tuesday. In court, prosecutors argued the music mogul should not be released because he had previously reached out to witnesses and victims. The judge told Combs there were no conditions she could find to assure her that he would appear in court if released. Combs’ lawyer Marc Agnifilo told CNN’s Kaitlan Collins on Tuesday night that Combs will likely not take a plea deal. The sex trafficking charge is based on allegations against a single, unnamed “Victim-I” from about 2009 up to about 2018, the indictment states.

Persons: Sean “ Diddy ” Combs, Andrew Carter, Combs, Carter, – Combs, Robyn Tarnofsky, Tarnofsky, Marc Agnifilo, CNN’s Kaitlan Collins, “, ” Agnifilo, Emily Johnson, Agnifilo, ”, Johnson, Prosecutors, —, ” Combs “, Casandra Ventura, Ventura, Douglas Wigdor, Sean Combs, won’t, ’, Combs ’ Organizations: CNN, Housing Unit, Metropolitan Detention, Homeland Security Investigations, Prosecutors, “, Combs Enterprise Locations: Brooklyn, Manhattan, New York, Miami, Los Angeles, Ventura

☆ The Fed is poised for its first rate cut in years, but it may be too soon to refinance your mortgage
▼ + stars: | 2024-09-18 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

The Federal Reserve is poised to make its first interest rate cut in years on Wednesday. While mortgage rates are partly influenced by the Fed's policy, they are also tied to Treasury yields and the economy. Home loan rates have already started to come down in recent weeks, slightly induced in part by favorable economic data and indications the Fed could cut rates. As of Thursday, Sept. 12, the average 30-year fixed rate mortgage in the U.S. was 6.20%, according to Freddie Mac data via the Fed. "It's almost impossible to figure out what mortgage rates are going to do from week to week or month to month," Ostrowski said.

Persons: Chen Zhao, Freddie Mac, Jeff Ostrowski, Ostrowski Organizations: Federal, CNBC, Treasury, Finance Locations: Redfin, U.S

☆ 3 couples who recently got mortgage interest rates under 3% share how they did it
▼ + stars: | 2024-09-18 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +10 min

Read previewOver the past few years, US mortgage rates have fluctuated wildly, leaving both homebuyers and sellers scrambling. AdvertisementThis can lead to significantly lower interest rates, making monthly mortgage payments more affordable and saving thousands over the life of the loan. The Federal Open Market Committee, which oversees US monetary policy, is expected to cut interest rates at its meeting this week. This could lead to further declines in mortgage rates in the coming months. Here are the stories of three homebuying couples who secured mortgage rates below 3% since March 2023 using assumable mortgages.

Persons: —, Louis, Freddie Mac, aren't, Grace Lucchese, Mickey Ricard, Boston —, Lucchese, Ricard, Riccard, Brian Sankey, Fort Knox, Sankey, Brian Sankey Sankey, wouldn't, Amy Yzaguirre, Yzaguirre, I've Organizations: Service, Federal, Fed, Federal Reserve Bank of St, Business, Federal Housing Administration, Department of Veterans Affairs, Market Committee, Boston, Lucchese, assumable Veterans Affairs, Veterans Affairs, Army, Toyota Tacoma Locations: Lucchese's, Sudbury , Massachusetts, Boston, couple's Massachusetts, Elizabethtown , Kentucky, Fort, Elizabethtown, Oregon, Idaho, Tigard, Portland, Sherwood

☆ Vilnius is cheap, safe, and fun — no wonder it's the world's happiness capital for Gen Z
▼ + stars: | 2024-09-18 | by ( Joshua Nelken-Zitser | ) www.businessinsider.com time to read: +8 min

Joshua Nelken-Zitser/Business InsiderThe city's 90-or-so lakes, ideal for kayaking, and some of the largest forests in the country are also nearby. Joshua Nelken-Zitser/Business InsiderAccording to an affordability index by the personal finance website Finasvalp, Vilnius is the fourth most affordable capital in Europe. Joshua Nelken-Zitser/Business InsiderShe also said she appreciates how inexpensive and convenient it is to travel from Vilnius. Joshua Nelken-Zitser/Business InsiderOutside a food hall beside the Baltasis Tiltas, or White Bridge, 22-year-old Goda Ponomariovaitė looks for a place to sit. Joshua Nelken-Zitser/Business InsiderAccording to Ponomariovaitė, Vilnius has plenty of free or affordable hangout spots.

Persons: —, Valdas Benkuskas, Angel Villalba, Ignas, Kazlauskas, Ignas Kazlauskas, Joshua Nelken, Pranculis, Elizabeth Avgusta, Adriana Doroškevičiūtė, Avgusta, Doroškevičiūtė, It's, Ponomariovaitė Organizations: Service, Business, Getty, Gallup, US, Eurostat, Finasvalp, Michelin Locations: Lithuania, Vilnius, Baltic, Small, Lithuania's, Denver, London, Newcastle, Ukraine, Belarus, Berlin, Europe, Indonesia, LA's Venice, Ponomariovaitė, Amsterdam

☆ The Fed’s rate cuts could have unintended consequences for the housing market
▼ + stars: | 2024-09-18 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

The market had become all but impenetrable after mortgage rates went from historic lows in 2020 to their highest levels in a generation last year. “And I think if we even go down to 5.9%, that would be really psychologically impactful to the housing market. The current 6.2% mortgage rate average is, of course, preferable to last year’s peak of 7.8% — a difference that could translate to hundreds of dollars in monthly payments. As my colleague Samantha Delouya wrote this week, a drop in mortgage rates could be a double-edged sword. “A further drop in mortgage rates could bring a surge of demand that makes it tougher to actually buy a house.”

Persons: ” Daniel Alpert, Alpert, “, ” Daryl Fairweather, Samantha Delouya, ”, Greg McBride Organizations: New, New York CNN, Federal Reserve, Westwood Capital, Fed, Bankrate Locations: New York

☆ Rate cuts are good for dividend stocks. Here's where we stand on our 5 biggest payers
▼ + stars: | 2024-09-18 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +6 min

We have a handful of them in the Club's portfolio, led by Best Buy . The five Club stocks with the biggest dividend yields fit the bill: Best Buy, Morgan Stanley , Coterra Energy , Stanley Black & Decker and Wells Fargo . Best Buy, Stanley Black & Decker and Wells Fargo are the best positioned of the five top-yielding Club stocks. "Morgan Stanley is now in no man's land: Too low to sell, too high to buy," Jim said. Customers look at appliances for sale at a Best Buy store in Miami, Florida, Oct. 8, 2021.

Persons: we're, Morgan Stanley, Stanley Black, Decker, Wells, Wells Fargo, Jim Cramer, Jim, Charlie Scharf, Coterra, it's, Jim Cramer's, Joe Raedle Organizations: Best, Coterra Energy, BBY, JPMorgan, Texas, Jim Cramer's Charitable, CNBC, Getty Locations: U.S, Wells Fargo, Miami , Florida

☆ Harris isn’t giving the specifics some undecided voters say they want
▼ + stars: | 2024-09-18 | by ( Stephen Collinson | ) edition.cnn.com time to read: +10 min

On another intractable issue, the Israel-Hamas war, Harris was strong on aspiration, vague on specifics and seemed to fall on both sides of the issue. Former President Donald Trump and Vice President Kamala Harris debate for the first time at the National Constitution Center on September 10, 2024, in Philadelphia. And Harris might be smart to avoid taking positions that could scare off disaffected Republicans and moderate suburban voters she’s seeking to win over. Voters want to know more about HarrisStill, recent polls show that the vice president has a window of opportunity to court voters who want to learn more about her. … She needs to be more direct.”From left to right, second gentleman Doug Emhoff, Vice President Kamala Harris, Minnesota first lady Gwen Walz and Minnesota Gov.

Persons: Kamala Harris, Donald Trump —, Harris, “, ”, Biden, she’s, Bill Clinton, Sen, Elizabeth Warren of, Trump, –, chunky, Joe Biden, it’s, Donald Trump, Win McNamee, Getty, —, Harris ’, Dick Cheney, Liz Cheney, “ Kamala Harris, ” Linda Rooney, Nikki Haley, CNN’s John King, Rooney, Antonio Munoz, I’ve, ” Munoz, King, Doug Emhoff, Gwen Walz, Tim Walz, Angela Weiss, She’s, ” Harris, Hillary Clinton scoffed, ” Clinton, Kara Swisher ” Organizations: CNN —, Democratic, Tuesday’s National Association of Black Journalists, Oval, Republican, National Constitution Center, Biden, Wyoming, New York Times, Siena College, CNN, South Carolina Gov, GOP, Trump, Minnesota Gov, Pittsburgh International Airport, Getty Locations: Israel, Elizabeth Warren of Massachusetts, Philadelphia, Ukraine, doesn’t, Nevada, Minnesota, generalities, Harris

☆ How to position your muni bond portfolio ahead of the election and potential tax law changes
▼ + stars: | 2024-09-18 | by ( Michelle Fox | ) www.cnbc.com time to read: +8 min

With the Federal Reserve rate-cutting cycle expected to begin and the November election just around the corner, now could be a good time to invest in municipal bonds. Interest earned on municipal bonds are free from federal tax. Close said he is already seeing financial advisors start to position their muni portfolios in anticipation of changes. Unlike the Treasury market, the muni market yield curve is upward sloping, Close said. In addition, there's room for lower-rated municipalities to outperform, such as A, BBB and high yield, Norton said.

Persons: Matthew Norton, Norton, Dan Close, Close, It's, Paul Malloy, Malloy, it's, Vanguard's Malloy, Nuveen's Organizations: Federal, Democratic, White House, Congress, municipals, Vanguard, BBB, AAA, AA, Treasury, Investment Company Institute, Fed Locations: Nuveen, California , New York, New Jersey, New York, California, AllianceBernstein

☆ Chinese American family meets descendants of the Black couple who rented to them when no one would
▼ + stars: | 2024-09-17 | by ( Lynda Lin Grigsby | Lynda Lin Grigsis A Freelance Journalist | Editor Who Writes About The Intersections Of Race | ) www.nbcnews.com time to read: +6 min

CORONADO, Calif. — Standing on their lawn, members of the Dong family waited to meet the great-grandkids of a Black couple who rented a home to them a generation ago, when laws favored white residents. In 1939, Gus and Emma Thompson, a Black entrepreneurial couple, agreed to rent and eventually sell the house they owned to the Dongs, a Chinese American family. Alan Nakkash for NBC NewsThe Dong family is donating the proceeds of the house sale to support the Black community. Alan Nakkash for NBC NewsThe Dong family wanted the Thompson family descendants to tour the storied home before selling. Nearby, Kemp leaned in to repeat words he first said at their meeting at the Coronado house.

Persons: —, Dong, Gus, Emma Thompson, Ron Dong, Emma, “, Janice Dong, Ron’s, Ballinger Gardner Kemp, Lauren Kemp Few, Alan Nakkash, ”, Thompsons, Lloyd Dong Jr, Dong Jr, Lloyd Jr, Lloyd Sr, Jackie, Margaret, Jeanette Dong, Lloyd Dong Sr, Ron Dong’s, Margaret ., Gus Thompson, Kemp, Thompson, Kevin Ashley, Ashley, Christopher Manning, Grace Lee Bogg’s, Manning Organizations: San, Black Resource, NBC, NBC News, Historical, Coronado, SDSU, Coronado Historic Resources Commission, Central California —, Del Locations: CORONADO, Calif, San Diego State, Kentucky, California, Central California, Coronado, Del Coronado

One out of 4 of the 31,000 homeowners in the coastal parish live there without homeowners insurance — one of the highest percentages in the United States. Across the country, 13.4% of homeowners — about 1 in 8 — are unprotected by homeowners insurance, according to an NBC News analysis of new Census Bureau data. It’s a double-edged sword.”The Census Bureau data shows how many homeowners pay less than $100 — or nothing at all — for homeowners insurance. According to the Census Bureau survey, which was taken in 2023, 20.8% of homeowners without mortgages also lack meaningful homeowners insurance. Among mortgage-holders, 8.5% don’t have meaningful homeowners insurance — and while banks require owners with mortgages to have homeowners insurance, gaps in coverage do happen.

Persons: Hurricane Francine, “, ”, Shannon Martin, you’re, Martin, ” Martin, Mark Friedlander, ” Friedlander, There’s, Daryl Fairweather, Redfin’s, ” Fairweather Organizations: NBC, Bankrate, Insurance Information Institute, “ Insurance Locations: Louisiana’s Terrebonne Parish, United States

☆ Harris gets pressed for policy details: From the Politics Desk
▼ + stars: | 2024-09-17 | by ( The Politics Desk | ) www.nbcnews.com time to read: +6 min

In today’s edition, reporter Curtis Bunn brings us a dispatch from Kamala Harris' interview with members of the National Association of Black Journalists. Plus, national political reporter Ben Kamisar breaks down where third-party candidates are appearing on the ballot in key battlegrounds. Read more from Curtis →Focus returns to Springfield: Harris also ripped Trump’s repeated bashing of Haitian immigrants in Springfield, Ohio, in the NABJ interview, saying he was “spewing lies grounded in tropes.”“It’s a crying shame. After having spent millions to get on state ballots, Kennedy has tried to pull back since he endorsed Trump. And there are still other third-party candidates, including some familiar faces and some new ones, whose presence on key state ballots could affect the November results.

Persons: Curtis Bunn, Kamala Harris, Ben Kamisar, Harris, Tonya Mosley, Gerren Keith Gaynor, TheGrio, Eugene Daniels, Mosley, “, ” Harris, Donald Trump, Read, Curtis →, Trump, Sen, JD Vance, Ohio, ”, Springfield Mayor Rob Rue, Jiachuan Wu, Robert F, Kennedy Jr, Kennedy, Kennedy hasn’t, don’t, Joe Biden Organizations: NBC, White House, Capitol, National Association of Black Journalists, Curtis Bunn PHILADELPHIA, NPR, Politico, Biden, Springfield Mayor, Trump Locations: Gaza, Israel, Chicago, Springfield, Springfield , Ohio, North Carolina, Michigan, Wisconsin, Arizona, Pennsylvania, Nevada, Michigan , Wisconsin

The median house price in the U.S. is now 5.8 times more than the median annual income of $80,000. That was, after all, the median price for a house in the area at the time. Jonathan OchartThe median price of a home in Los Angeles county is just under $960,000, according to Zillow listings data. It's just not a level playing field," says Ochart about the income now needed to afford a home. In Grand Rapids, median home prices were on the rise before the pandemic and then soared 54% from 2020 to $285,000 in June 2024, according to Zillow sales data.

Persons: Kelcie Lesko, Tim Khalil, Lesko, Khalil, they'll, Gen Xers, What's, — there's, they're, Daryl Fairweather, Kelly Diehr, homebuyers, you'd, Diehr, Jonathan Ochart, Ochart, It's, Timothy Ham, Timothy Ham couldn't, Ham, you've, That's, boomer, it's, Lawrence Yun, Millennials, Ramit Sethi, Rich, Brad Klontz, homebuying Organizations: CNBC, Homes, LA, National Association of Realtors, NAR Locations: New Jersey, Monmouth County, North Brunswick, Lesko, homeownership, U.S, Denver, Brazil, Los Angeles and New York, San Antonio, Los Angeles, Antonio, Texas, LA, Boise , Idaho, Tacoma , Washington, Grand Rapids , Michigan, Grand Rapids, Kalamazoo

☆ Big names like David Tepper and 'Big Short' investor Michael Burry are quietly upping their bets on the Chinese economy
▼ + stars: | 2024-09-17 | by ( Zahra Tayeb | ) www.cnbc.com time to read: +5 min

From property woes to sluggish economic data, China appears to be suffering from long Covid. Wall Street turns bullishBillionaire investors, including Appaloosa Management founder David Tepper and "Big Short" investor Michael Burry, recently revealed they are sticking to their China bets. The famed investor loaded up on Alibaba stock in the second quarter, revealing an $11.2 million position in the company. That makes Alibaba Burry's largest holding, with other Chinese tech stocks including Baidu and JD.com also featuring on Burry's portfolio. Meanwhile, BCA Research recently upgraded Chinese onshore stocks to overweight, with China strategist Jing Sima expecting Chinese onshore stocks to passively outperform global equities.

Persons: Jiang Sheng, It's, Ted Alexander, CNBC's, David Tepper, Michael Burry, Alibaba, Tepper, Burry, JD.com, Jing Sima, George Boubouras, Goldman Sachs, Song Zhiyong, Eric Lin Organizations: Visual China, Getty, Appaloosa Management, KE Holdings, Baidu, BCA Research, K2 Asset Management, CNBC, Bank of America, National Bureau of Statistics, China's Ministry of Transport, Civil Aviation Administration, Asia Pacific Summit for Aviation Safety, Paris Olympic Games, Greater, Greater China Research, UBS Locations: China, Beijing, Wall, Japan, South Korea, Singapore, Europe, Greater China

☆ A millennial couple who moved to South Korea says $400 a month for full-time childcare is a huge perk
▼ + stars: | 2024-09-17 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +5 min

They're learning how to be parents in an unfamiliar environment, but there's one thing that could work in their favor: low childcare costs. The couple then moved to Seoul, South Korea, about two months ago, where they currently reside. "Full-time day care is really cheap," the 38-year-old told BI via email. Between 1983 and 2023, US childcare costs rose over 800% compared to a 300% increase for overall inflation, according to a BI analysis published last year. Are you struggling with high childcare costs?

Persons: —, Chris Oberman, Oberman Organizations: Service, Business, of America, . Bank of America, South Korean Locations: Netherlands, —, Beijing, Shanghai, Erbil, Iraq, Seoul, South Korea, China

☆ Treasury yields little changed as Fed meeting set to kick off
▼ + stars: | 2024-09-17 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury yield was down by less than one basis point to 3.6194%. The 2-year Treasury yield was last less than one basis point lower to 3.5506%. U.S. Treasury yields held steady on Tuesday as the Federal Reserve's monetary policy meeting is scheduled to begin, with policymakers widely expected to announce an interest rate cut at its conclusion. All eyes are on the Federal Reserve this week, with an interest rate cut from the central bank all but guaranteed. The key question across markets remains how big the rate cut from the Fed will be on Wednesday.

Persons: Dow Jones Organizations: U.S, Treasury, Federal, Federal Reserve, Fed, Traders, Bank of England, Bank of Locations: Bank of Japan

☆ Harris victory seen as most likely election outcome, according to CNBC Fed Survey
▼ + stars: | 2024-09-17 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

For the first time in the 2024 election cycle, Vice President Kamala Harris is viewed as more likely than former President Donald Trump to win the U.S. presidential election, according to a CNBC Fed Survey released Tuesday. Among the group, 48% see a Harris victory as the most likely scenario, while 41% believe Trump will win. Fifty-six percent of respondents to the CNBC Fed Survey believe a Trump presidency would be better for the stock market than a Harris administration. The respondents also forecast that Harris' economic proposals would be better for budget deficits and trade policy. They gave higher marks to Trump for how his policy proposals would impact business regulation, inflation, jobs and taxes.

Persons: Kamala Harris, Donald Trump, Harris, Trump, Joe Biden, Biden, Joel Naroff Organizations: White House, U.S, CNBC Fed, Biden, CNBC Fed Survey, Trump, Naroff Locations: Washington, Bedminster , New Jersey, United States

☆ Stock futures are little changed as Wall Street anticipates a long-awaited Fed rate cut: Live updates
▼ + stars: | 2024-09-17 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

A trader works, as a screen broadcasts a news conference by Federal Reserve Chair Jerome Powell following the Fed rate announcement on the floor of the New York Stock Exchange on June 12, 2024. Stock futures were flat in overnight trading Tuesday as Wall Street anticipated a long-awaited rate cut from the Federal Reserve following an aggressive multiyear hiking campaign aimed at tamping down hot inflation. Futures tied to the Dow Jones Industrial Average added 28 points, while S&P 500 futures hovered near the flatline. Investors remain on high alert ahead of the first expected rate cut from the Fed at the conclusion of its two-day policy meeting Wednesday. CME Group's FedWatch Tool shows traders pricing in a 63% chance of a 50 basis point cut, and 37% odds of a 25 basis point move.

Persons: Jerome Powell, Peter Cecchini, Axonic, CNBC's Organizations: Federal, New York Stock Exchange, Stock, Federal Reserve, Dow Jones, Nasdaq, Dow Jones Industrial, Fed

☆ New home sales saw the biggest burst of activity in August since 2022, MBA says
▼ + stars: | 2024-09-17 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +1 min

The housing market saw a burst of activity in August. New home sales rose around 15% last month, the biggest jump since 2022. Buyers are coming back to the market as mortgage rates ease. Go to newsletter preferences Thanks for signing up! AdvertisementThe housing market is seeing a fresh burst of activity as mortgage rates edge lower.

Persons: Buyers, — Organizations: Service, Mortgage, Association, Business

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