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The consensus view is that lower rates will stave off a recession by stimulating economic growth through lower borrowing costs. The hidden danger of a double cutHowever, David Kelly of JPMorgan Asset Management warned that lower rates aren't an economic panacea. In fact, the chief global strategist thinks these cuts could, paradoxically, cause the economy to slow in the near term. Advertisement"The important thing to recognize is that cutting interest rates at the start doesn't stimulate the economy at all," Kelly said on CNBC. "There is a J-curve effect; it actually slows the economy because people begin to anticipate those lower rates, so they want to wait for lower rates."
Persons: , Jim Caron, Claudia Sahm, Jerome Powell, Sahm, Ronald Temple, Kevin Philip of, David Kelly, Kelly, what's, you've, Kelly isn't, it's, they've Organizations: Service, Federal, Business, Fed, Dow Jones, Morgan Stanley Investment Management, CNBC, New Century Advisors, Lazard, Kevin Philip of Bel Air Investment Advisors, JPMorgan Asset Management
Chinese electric car company Nio launched its lower-cost brand Onvo on Wednesday, May 15, 2024, in Shanghai, China. HEFEI, China — There's yet another Chinese electric car aiming to undercut Tesla , with a steeper discount. Onvo, the lower-priced brand launched by premium electric car company Nio , announced its first car, the L60 SUV, would start as low as 149,900 Chinese yuan ($21,210) when buying battery services via a monthly subscription, starting at 599 yuan. Nio shares briefly rose by more than 3.5% in U.S. trading Thursday after the Onvo L60 launch. When Nio launched the Onvo brand in May, the company said the L60 would start selling at 219,900 yuan versus Tesla 's Model Y at 249,900 yuan.
Persons: Nio, Tesla, Mona, Max Organizations: Mona Locations: Shanghai, China, HEFEI
Read previewElon Musk's X says it accidentally restored temporary access to the social media platform in Brazil on Wednesday, just weeks after it was banned in the country. This story is available exclusively to Business Insider subscribers. This made "blocking the app much more complicated," the country's trade group for internet service providers added. In response, Musk closed X's Brazil offices and refused to comply with an order to name a legal representative in the country. X didn't immediately respond to a request for comment from Business Insider, made outside normal working hours.
Persons: , Elon Musk's, ABRINT, Basílio Rodriguez Pérez, Pérez, Musk, Alexandre de Moraes, X, Moraes, X didn't Organizations: Service, Global Government Affairs, Business, Brazilian Association of Internet, Telecommunications Providers, BBC, AFP, New York Times Locations: Brazil, Brazilian, Moraes
7:03 a.m.: Bernstein cuts price target on Nike amid innovation critiques Bernstein sees slightly less room for Nike to rebound. — Alex Harring 6:25 a.m.: Jefferies recommends buying NextEra Energy Partners despite buyout concern Jefferies came out of the gates optimistic on NextEra Energy Partners . Analyst Julien Dumoulin-Smith initiated coverage of the Florida-based renewable energy stock at a buy rating. — Alex Harring 5:54 a.m.: AI helps HubSpot compete, BofA says Bank of America is keeping an eye of HubSpot's artificial intelligence work. — Alex Harring 5:46 a.m.: JPMorgan says to sell Five Below JPMorgan turned bearish on Five Below , citing challenges that are hard to surmount for the value-focused retailer during a tough year.
Persons: Piper Sandler, Bernstein, Aneesha Sherman, Sherman, Alex Harring, BTIG, it's, Jake Fuller, Fuller, DoorDash, — Alex Harring, Jefferies, Julien Dumoulin, Smith, Hertz, Dan Levy, Levy, Avis, HubSpot, BofA, BofA's Brad Sills, Sills, monetization, Matthew Boss, Boss, Abbott, Adam Maeder, necrotizing, ABT, Maeder, Fred Imbert Organizations: CNBC, Laboratories, JPMorgan, Nike, Dow Jones, Jefferies, NextEra Energy Partners, Barclays, Hertz, Bank of America, LSEG, Abbott Laboratories Locations: Wednesday's, Florida, Thursday's premarket
CNN —Donald Trump’s campaign declined to say Thursday whether North Carolina Lt. Gov. The report immediately rippled through the 2024 presidential race, where North Carolina is a target for both Trump and Harris. “My hope is that the lieutenant governor can reassure the people of North Carolina that the allegations aren’t true,” he said. Another North Carolina Republican, Rep. Greg Murphy, also called the allegations “very concerning” but raised doubt about their authenticity. CORRECTION: This story has been corrected to note that North Carolina Rep. Greg Murphy is not part of the House Freedom Caucus.
Persons: Donald Trump’s, Mark Robinson, “ Martin Luther King, Kamala Harris ’, Robinson, Trump, he’d, , Harris, Harris ’, Martin Luther King, Trump’s, Biden, ” Trump, Karoline Leavitt, , , we’re, Josh Stein, Roy Cooper, “ Donald Trump, ” Cooper, Stein, Josh, Izzi Levy, ” Levy, Jeff Jackson, Carolina Sen, Thom Tillis, ” Tillis, Richard Hudson, Hudson, Greg Murphy, Ralph Norman, he’s, Norman, ” Norman, Marjorie Taylor Greene, Georgia, CNN’s Alayna Treene, Kristen Holmes, Aaron Pellish, Dianne Gallagher, Annie Grayer, Morgan Rimmer, Kate Sullivan, Omar Jimenez Organizations: CNN, Gov, Republican, Trump, White, NAACP, ” North, ” North Carolina Democrats, NC GOP, Democratic Governors Association, Republican Governors Association, North Carolina Rep, Democratic, Republicans, North, North Carolina General Assembly, North Carolina Republican, South Carolina Rep, Caucus, GOP Locations: North Carolina, Greensboro , North Carolina, Asheville, Asheboro, , ” North Carolina, Hill, Carolina
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're already in a 'small business recession,' says Ironsides Macroeconomics' Barry KnappBarry Knapp, chief market strategist at Ironsides Macroeconomics, joins ‘The Exchange’ to discuss his take on the Fed’s 50 bps rate cut, what that means for the markets, and more.
Persons: Barry Knapp Barry Knapp
“Given that sleep is highly visible as a risk factor, non-stigmatizing, and highly treatable … we suggest study of sleep as a risk factor and critical intervention target for youth suicide,” said senior study author Dr. Rebecca Bernert, a suicidologist and founder of the Stanford Suicide Prevention Research Laboratory in California, via email. Suicide is a leading cause of death among children ages 10 to 14, a group that also has high rates of sleep disturbance, according to the study. And sleep disturbances “have emerged as an evidence-based risk factor for suicidal behaviors” among adults, regardless of whether a person has depressive symptoms, the authors said. At that time, guardians answered questionnaires about their child’s sleep health, which included factors such as problems with falling or staying asleep, waking up, excessive sleepiness, sleep-disorder breathing, excessive sweating during sleep, and behaviors that occur when someone partially awakes from deep sleep. Supporting your child’s healthAt all ages, your kids need good nighttime habits that support healthy sleep, Willard said.
Persons: ideation, , Rebecca Bernert, Christopher Willard, wasn’t, ” Willard, Rebecca Berry, University’s, Berry wasn’t, Bernert, ” Bernert, Berry, Sleep, Willard, ” Berry, Organizations: Lifeline, CNN, JAMA, Stanford, Prevention Research, Harvard Medical School, University’s Grossman School of Medicine, Stanford University School of Medicine Locations: California, United States, Massachusetts, Boston, New
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'No victory lap yet' for President Biden, still more work to do on economy, says CEA chair BernsteinJared Bernstein, chairman of Council of Economic Advisors, joins CNBC's 'Money Movers' to discuss expectations for President Biden's visit to the Economic Club of Washington DC, reactions to the Federal Reserve's interest rate cut, and more.
Persons: Biden, Bernstein Jared Bernstein, Biden's Organizations: of Economic Advisors, Economic, of Washington DC
David Schwimmer told the "Origins with Cush Jumbo" he turned down a role in the "Men In Black." Schwimmer said the role, which Will Smith took, could have made him a movie star. AdvertisementDavid Schwimmer said he turned down a lead role in "Men in Black" to direct a movie with his friends. Will Smith took the role, cementing his status as a Hollywood star. Schwimmer told Tuesday's episode of the "Origins with Cush Jumbo" podcast that he was offered the lead role in the 1997 movie during a four-month hiatus from filming "Friends."
Persons: David Schwimmer, Cush Jumbo, Schwimmer, Will Smith, Organizations: Service, Miramax, Lookingglass Theatre Company, Business
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBMO's Simeon Siegel weighs in on Nike bringing in new CEO and what it means for the companyBMO Senior Retail Analyst Simeon Siegel joins 'Fast Money' to talk what Nike's C-Suite switchup means for the company moving forward.
Persons: BMO's Simeon Siegel, Simeon Siegel Organizations: Nike, BMO Senior
The Fed's big rate cut won't stop a recession, economist David Rosenberg says. Rosenberg's bearish call comes one day after the Federal Reserve delivered a jumbo 50 basis point interest rate cut, the Fed's first rate cut since 2020. AdvertisementBut Rosenberg isn't backing down, likening 2024 to 2007, right before the economy slowed and entered a painful recession. He added: "Half the country is in recession right now when we apply data science to the commentary." AdvertisementAs for the soaring stock market, Rosenberg says investors should heed the warning signs coming out of the bond market.
Persons: David Rosenberg, He's, Rosenberg, , Rosenberg's Organizations: Service, Federal Reserve, BLS
Recalibrate for risk Protecting your portfolio from sharp losses begins with understanding your comfort with risk and ensuring that your asset allocation reflects your long-term goals. "But over that period when markets were down, there were opportunities to harvest losses in stocks, individual names that experienced big pullbacks." And they've been a good buy for clients who are nearing retirement, seeking income and appreciate bonds' ability to offset stocks' volatility. Options for buffering losses Options are also playing a role in investors' portfolios as financial advisors try to mitigate volatility. Call options give investors the right to buy a stock at a specified strike price before a certain date.
Persons: Stocks, Goldman Sachs, Arun Prakash, Prakash's, Rafia Hasan, San, Hasan, they've, Andrew Herzog, We're, Herzog, he's, Gregory Guenther, Morningstar, " Guenther Organizations: Federal, Wealth Management, Fed, Treasury Bond ETF, SEC, GrantVest Financial Locations: San Francisco, Plano , Texas, Matawan , New Jersey
But there may be more of a science to eldest daughters than meets the eye. When a mother needed help, biology caused her eldest daughter to step up and mature faster to provide that help. Most striking of all, maternal distress was not found to speed up adrenal puberty in sons or younger daughters. "I have a closer relationship with her, to this day, than I do with many of my other older siblings," he said. His wife grew up as part of a similarly large brood — and her eldest sister had a similar experience.
Persons: Lisa Doucet, Albert didn't, Doucet, Albert, I'm, " Doucet, babysitters, they'd, Molly Fox, Fox, Pamela Jakiela, aren't, isn't, Jonathan Westover, Mary Poppins —, Westover, We're, , Lenette Azzi, Lessing, Jakiela Organizations: University of California, Fox, Center for Global Development, Williams College, University of Essex, Child, Utah Valley University, Boston University, Child Welfare League of America Locations: Rhode Island, Providence, TikTok, Los Angeles, Kenya, Utah
Rauen: This cut boosts our confidence to invest, hire, and grow.
  + stars: | 2024-09-19 | 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 EmailRauen: This cut boosts our confidence to invest, hire, and grow. Tom Rauen, Founder & CEO of 1-800-T-SHIRTS, discusses how the rate cut benefits both customers and the business by easing credit card rates and improving consumer confidence."
Persons: Tom Rauen
Disney to ditch Slack following July data breach
  + stars: | 2024-09-19 | by ( Sarah Whitten | ) www.cnbc.com   time to read: +1 min
The Mickey Mouse and Minnie Mouse float passes by during the daily Festival of Fantasy Parade at the Magic Kingdom Park at Walt Disney World on May 31, 2024, in Orlando, Florida. The Walt Disney Company will no longer use Slack for in-house company communication months after a hack that involved more than a terabyte of company data being leaked to the public. Representatives from Disney and Salesforce, the owner of Slack, did not immediately respond to CNBC's request for comment. "Companies also have to take the right measure to prevent phishing attacks and to lockdown their employees' social engineering," he added. Benioff noted that Disney continues to use Salesforce products in other aspects of its business including its Disney store, Disney guides, sales and service operations and its call centers.
Persons: Mickey Mouse, Mouse, Hugh Johnston, Slack, Marc Benioff, Benioff, Disney Organizations: Magic, Walt Disney World, Walt Disney Company, Disney, CNBC, Bloomberg Locations: Orlando , Florida
For the second time in four years, Pete Buttigieg is playing the GOP VP candidate in debate prep. Buttigieg is playing Sen. JD Vance as Gov. Tim Walz prepares for the October 1 debate. AdvertisementAs Tim Walz prepares for his debate with Sen. JD Vance, the Minnesota governor already reportedly has a stand-in for his vice presidential foe: Transportation Secretary Pete Buttigieg. According to The Washington Post, Buttigieg has been playing Vance in debate rehearsals with Walz.
Persons: Pete Buttigieg, Buttigieg, Sen, JD Vance, Tim Walz, Mike Pence, , Vance, Walz Organizations: GOP, Transportation, Service, The Washington Post, Business Locations: Minnesota, Minneapolis
Read previewA dietitian who has written a book on the MIND diet spoke to Business Insider about the most common mistakes people make when starting to follow it. The MIND diet stands for the Mediterranean-DASH Intervention for Neurodegenerative Delay, and combines the principles of the Mediterranean and DASH diets , with added foods for brain health and longevity. Research suggests the MIND diet can help reduce cognitive decline as people age. BI spoke to McGrane about the mistakes people make when following the MIND diet. Related storiesTrying to overhaul your diet overnightMcGrane said that you shouldn't try to completely switch to the MIND diet immediately.
Persons: , Kelli McGrane, McGrane, You'll, I'd Organizations: Service, Business, US, American Heart Association, Research, Neurology, Harvard, Chan, of Public Health, Beginners
Santana’s 2024 Las Vegas residency begins on October 30 and continues for another seven performances through November 10. Date City StubHub prices Vivid Seats prices Time October 30, 2024 Las Vegas, Nevada $82 $85 7 p.m. October 31, 2024 Las Vegas, Nevada $72 $77 7 p.m. November 2, 2024 Las Vegas, Nevada $111 $113 7 p.m. November 3, 2024 Las Vegas, Nevada $110 $113 7 p.m. November 6, 2024 Las Vegas, Nevada $88 $94 7 p.m. November 7, 2024 Las Vegas, Nevada $104 $115 7 p.m. November 9, 2024 Las Vegas, Nevada $110 $116 7 p.m. November 10, 2024 Las Vegas, Nevada $110 $129 7 p.m. How to buy tickets for Santana 2024 concert tourYou can buy original tickets to see Santana’s 2024 concert tour through Live Nation. Ticket prices for Santana's Las Vegas concerts are reasonable compared to similar acts with residencies in the city. While Santana's House of Blues Las Vegas residency isn't offering any VIP tickets, there are VIP add-ons and extras available.
Persons: Santana, Carlos Santana, we’ve, Maria Maria, group's, they'll, there's Organizations: Business, Blues Las Vegas, Blues Las, Blues, Las, Santana, Mandalay, Santana's Las, Vivid, Santana's, Blues Foundation, showtime Locations: Vegas, Mandalay Bay, Las Vegas, Mandalay, Vegas , Nevada, Santana's Las Vegas, Blues Las Vegas, Las Vegas , Nevada
Read previewHere's the latest sign of Mark Zuckerberg's style evolution — a luxury watch depicting the Milky Way. Mark Zuckerberg spotted yesterday during the @AcquiredFM live wearing a DB25 Starry Varius in rose gold from De Bethune. 👀 pic.twitter.com/raZRTyzmAz — ZwapX (@zwapxofficial) September 11, 2024This is not the first premium watch Zuckerberg has been spotted wearing. "His recent style evolution, shown by a love for premium watches and subtle luxury, suggests a shift." To be sure, Zuckerberg's style evolution might have less to do with aesthetics and more to do with an intentional strategy to cultivate a relatable and attractive personal image.
Persons: , Mark, De Bethune, Bryan Li, Mark Zuckerberg, De, 👀, ove Organizations: Service, De Bethune DB, Business, Swiss Locations: De Bethune, ife
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. consumers remain healthy, but the sector is not our top pick for stocks: Goldman SachsGoldman Sachs' Ben Snider notes that as U.S. interest rates decline, dividend-paying stocks are becoming increasingly attractive for investors looking to hedge in the current market environment.
Persons: Goldman Sachs Goldman Sachs, Ben Snider Organizations: U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed's interest rate cut is an inflection point for real estate markets: HinesDavid Steinbach of Hines discusses the U.S. Federal Reserve's September interest rate cut and what this means for investor interest in the real estate market.
Persons: Hines David Steinbach, Hines Organizations: U.S, U.S . Federal Locations: U.S .
Read previewThis as-told-to essay is based on a conversation with Kent Davis, a retired Air Canada pilot with more than 40 years of experience. AdvertisementA prime minister, movie stars, and royaltyIn 1972, I joined Air Canada and spent 33 years flying for them. In 2005, I retired from Air Canada and was hired by Prince Alwaleed Bin Talal, a Saudi prince based in Riyadh. Kent Davis flew Prince Al Waleed bin Talal (pictured) and his family around the world. I'm mostly retired now, except for some consulting work with my company, Trans Global Aviation Solutions.
Persons: , Kent Davis, Prince Alwaleed Bin Talal, Prince Al Waleed bin Talal, CHRISTOPHE ENA, George W, Bush, I'm Organizations: Service, Air Canada, Business, Aviation, Royal Canadian Navy, Navy, Airbus, Boeing, Air India, Trans Global Aviation Solutions Locations: Montreal, Saudi, Riyadh, New York, Republic of Georgia, Greater Caucasus
Inbolt has raised $16.7 million in Series A funding to enhance 3D vision and AI for robots. The Paris-based startup aims to improve robotic precision and speed in industrial automation. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementInbolt, a Paris-based 3D vision and AI startup, has raised €15 million ($16.7 million) in Series A funding. The startup wants to make factory production lines more efficient by using 3D vision and AI to help guide robotic arms with greater precision and speed.
Persons: Inbolt, Organizations: Exor Ventures, Service, Business Locations: Paris, Detroit
10-Minute Challenge: ‘Canopy’
  + stars: | 2024-09-19 | by ( Larry Buchanan | Nico Chilla | Francesca Paris | ) www.nytimes.com   time to read: +6 min
This painting, called “Canopy,” is from 2020. ):With yards:And she did it with plastic buckets — the painting you just spent some time with. She spent the whole first summer just trying to get the perspective on the tops of the buckets right — searching for the right ellipse shape — working them out in drawings and on the canvas. Near the end of our conversation, we asked Ms. Murphy why she still paints this way after all these years. Why deal with the dying grass, the ever-changing light, those impossible ellipses, morning after morning after morning?
Persons: Catherine Murphy, Catherine Murphy —, Murphy, , Murphy’s, , , I’m Organizations: Metropolitan Museum of Art, Depot
"A number of ocean carriers have announced their plans in terms of embargoing export cargo coming to the East Coast from the Midwest," said Rooney. Once the strike is over the Coast Guard would lead the charge in an orderly flow of vessels entering the port." "While the APAC region typically has more options to shift freight to the West Coast, over half of the automotive freight coming in today is heavily dependent on the East Coast. Port of New York/New Jersey has joined other ports that have publicly posted strike contingency plans. The vessels scheduled to come into the East Coast and Gulf ports have been traversing the ocean since early to mid-August.
Persons: Beth Rooney, Rooney, Jim Mancini, CH Robinson, Biden, Taft, Hartley, We've, Harold Daggett Organizations: CNBC, International Longshoreman's Association, ILA, Cruise, United States Maritime Alliance, Port Authority of New, Coast Guard, Maersk, Port, Bloomberg, Getty, Transportation, U.S ., Biden, Logistics Locations: of New York, New Jersey, North America, East, Gulf Coasts, Port Authority of New York, New York, East Coast, Maersk Atlanta, Newark, Newark , New Jersey, US, North, Europe, Oceania, Latin America, Asia, West Coast, Germany, Charleston, Savannah, U.S . West Coast, Port, Houston, Mobile , Alabama
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