DIRS.INFO The most relevant business & tech news

☆ From the far right to fiscal challenges, France could lurch from one crisis to another
▼ + stars: | 2024-09-11 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +6 min

France's challenges are far from over, however, with the country facing acute fiscal challenges and an ongoing threat posed by the far-right National Rally opposition, led by Jordan Bardella and Marine Le Pen. France this week asked the Commission to extend its deadline of Sept. 20 to submit debt reduction proposals. Analysts say Barnier's political survival therefore "depends on the whims and personal-political calculations of Le Pen." "The great unknown ... is how far Le Pen will be willing to address the most immediate crisis facing Barnier and the country: the painful choices needed to prevent France from plunging into a destructive fiscal crisis by the end of this year," he said. Marine Le Pen and Jordan Bardella at the final rally before the June 9 European Parliament election, held at Le Dôme de Paris - Palais des Sports, on June 2, 2024.

Persons: La France Insoumise, Remon Haazen, Emmanuel Macron's, Michel Barnier, Jordan Bardella, Pen, Barnier's, Gabriel Attal, Sarah Meyssonnier, Reuters Barnier's, Macron —, Le, Mujtaba Rahman, France's, Eurasia Group's Rahman, Le Pen's Organizations: Republique, La, Getty, Getty Images, Veteran, National Assembly, European, France's, Reuters, New, National, Eurasia Group, Le, Palais des Sports, Nurphoto Locations: La France, Paris, France, Europe, Eurasia

☆ This corner of the stock market is set to outperform once the Fed starts cutting interest rates, Goldman Sachs says
▼ + stars: | 2024-09-11 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +4 min

Mid-cap stocks are poised for greater growth than small- and large-caps, Goldman Sachs says. They forecast a 13% return on mid-caps in the next year after rate cuts. AdvertisementThere's one area of the stock market that is likely set for outsized growth after rate cuts: the mid-cap shares. Mid-cap equities have historically seen stronger growth in the year after rate cuts compared to large- and small-caps, analysts from Goldman Sachs say. Goldman Sachs expects the Fed to cut interest rates by 25 basis points at its policy meeting next week, followed by 25 basis points in November and December.

Persons: Goldman Sachs, —, Russell, Goldman Organizations: Service

☆ The inflation report dashes hopes of a jumbo rate cut next week
▼ + stars: | 2024-09-11 | by ( Madison Hoff | ) www.businessinsider.com time to read: +2 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. The consumer price index, published by the Bureau of Labor Statistics, increased 2.5% over the year from August 2023 to this past August, matching the forecast of 2.5% and below July's 2.9% rate. The new data will factor into the Federal Open Market Committee's interest-rate decision next week, with the hot core figure decreasing the odds of a jumbo 50-basis-point cut. Softening but still relatively strong labor market data will also weigh on the Fed's decision. "If that test is met, a reduction in our policy rate could be on the table as soon as the next meeting in September."

Persons: —, Jerome Powell, Powell Organizations: Service, Bureau of Labor Statistics, Business, Federal

☆ Treasury yields rise ahead of final inflation prints before Fed meeting
▼ + stars: | 2024-09-10 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

One basis point is equivalent to 0.01%. The yield on the 10-year Treasury was 2 basis points higher at 3.721%, with the 2-year Treasury yield also up by 2 basis points at 3.691%. Treasury yields rose early Tuesday ahead of the final major inflation prints before the Federal Reserve's September meeting. Treasury yields have stablized after tumbling through last week when a series of labor market releases missed estimates. Debate has erupted over whether the Fed could opt for a 50 basis point rather than a 25 basis point interest rate cut during the Sept. 17-18 meeting.

Organizations: Treasury, Investors Locations: July's

☆ Stock market today: Indexes rise as traders eye debate and upcoming inflation report
▼ + stars: | 2024-09-10 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Investors are gearing up for August's consumer price index report to release on Wednesday. Tuesday's presidential debate could also impact investor sentiment. This week, investors are bracing for the incoming consumer price index report, scheduled for release on Wednesday morning. Before the inflation print, investors will first tune into Tuesday evening presidential debate between candidates Donald Trump and Kamala Harris. Later in the week, the producer price index and the latest jobless claims will be published on Thursday.

Persons: Stocks, —, Donald Trump, Kamala Harris, David Bahnsen Organizations: Service, Bahnsen Group, Here's

☆ Chinese-Owned Bitcoin Mines Are Using up America's Energy, Electricity
▼ + stars: | 2024-09-10 | by ( Taylor Dorrell | ) www.businessinsider.com time to read: +13 min

Concerns about the use of cryptocurrencies for illegal activity resulted in an effective ban on crypto mining and transactions. After a massive public outcry at the end of 2021, mining companies in Kazakhstan were effectively cut off from the grid. Today, the US makes up about 40% of the global hashrate — up from 17% during China's 2021 peak — making America the biggest hub for bitcoin mining. However, in recent years, bitcoin mining has become increasingly concentrated in the hands of a small number of private companies. Given how much energy bitcoin mining consumes, it's worth questioning whether its presence in the US is really worth the trade-off.

Persons: Xi Jinping, Zoe Liu, hasn't, pushback, haven't, Jeremy Fisher, Fisher, Gladys Anderson, Kelley Sayre, Stephanie Marsh, Marsh, Gavin Newsom, would've, Donald Trump, Trump, Satoshi Nakamoto, Saifedean Ammous, Cheyanne Diehl, wasn't, Biden, Joe Biden, Liu Pengyu, America Organizations: Council, Foreign Relations, Mining, Cambridge, Goodyear, Sierra, Environmental, New York Times, Tech, Gov, Securities and Exchange Commission, July's Bitcoin, SEC, National Bureau of Economic Research, Inc, Nasdaq, Embassy, EV, Sierra Club, City Council, Digital Locations: China, Kazakhstan, America, Utah, West Virginia, Akron , Ohio, Rockdale , Texas, Murphy , North Carolina, Massillon , Ohio, Bono , Arkansas, Vilonia , Arkansas, Akron, California, Nashville, Massillon, Ohio, Chinese, Massillon's City, In Arkansas, Wyoming, Washington, Harrison , Arkansas

☆ Your résumé is probably getting too long. Here's how to fix it.
▼ + stars: | 2024-09-08 | by ( Tim Paradis | ) www.businessinsider.com time to read: +6 min

AdvertisementMany job seekers believe that including extra detail will help show off their qualifications to employers. But, Mann said, employers have specifics they're seeking on a résumé — often what's outlined in the job description. AdvertisementShe recommends job seekers use distinct sections to help make their résumé easy to read. For people applying for roles with quantifiable results — like sales or marketing — it can be wise to then include a section on career accomplishments. "It's the average of all the resources that are out there, so it creates these incredibly generic résumés," Mann said.

Persons: —, Madeline Mann, Mann, LiveCareer, James Neave, he'd, Neave, Jasmine Escalera, Escalera, Adzuna's Neave, it's Organizations: Service, Self, Business

☆ August payrolls grew by a less-than-expected 142,000, but unemployment rate ticked down to 4.2%
▼ + stars: | 2024-09-06 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

At the same time, the unemployment rate ticked down to 4.2%, as expected. The labor force expanded by 120,000 for the month, helping push the jobless level down by 0.1 percentage point, though the labor force participation rate held at 62.7%. The household survey, which is used to calculate the unemployment rate and is often more volatile than the survey of establishments, showed employment growth of 168,000. Markets showed little initial reaction to the data, with stock futures holding negative and Treasury yields also lower. While the August numbers were close to expectations, the previous two months saw substantial downward revisions.

Persons: Nonfarm, Dow Jones, Dan North Organizations: Federal Reserve, Labor Department's Bureau of Labor Statistics, BLS, North America, Allianz Trade, Manufacturing Locations: U.S, Dow

☆ Jessica Fern's 'Polysecure' promised a world beyond monogamy. She didn't say it would be easy.
▼ + stars: | 2024-09-05 | by ( Anna Silman | ) www.businessinsider.com time to read: +40 min

The psychotherapist's 2020 book, "Polysecure," has become the poly bible for an increasingly queer and fluid generation. As consensual nonmonogamy went mainstream, searches for Fern's "Polysecure" spiked. "I've heard authors joke they get a cup of coffee from their book," Fern said. When Jessica Fern and Dave Cooley opened up their relationship, Cooley was surprised at the "searing anguish" he felt about his wife seeing other men. Fern, Cooley, and Fern's partner bought the property together and settled in, planning to live there long term.

Persons: Jessica Fern, Feeld, Lionel Messi, Fern, John, nonmonogamy, Molly Roden Winter's, Miranda July's, I've, Nielsen BookScan, you've, we're, Hannah, Dave Cooley, Cooley, Esther Perel, Dan Savage, Guralnik —, Ross Geller, it's, butch barista, deblasio, Chirlane McCray, Suki Waterhouse, Allison P, Davis, Clinton, isn't, Gilmore, Diego, — they're, Fern disentangled, polyamory, Julia, Apryl, Jessica, John Bowlby, Mary Ainsworth, Fern's polyamorous, she's, It's, Mike Belleme, Tobias, Lindsay, Molly Roden Winter, compersion, Fern's, —, Abby, she'd, Axios they'd, Christopher Gleason, they'd, Gleason, We've, curt, Escher, Franklin Veaux, Eve Rickert's, Rickert, aren't, I'm, Daniel Lavery, " Lavery, polysecurity hasn't, She's, pats, hasn't, polysecurity, Fern isn't, We're, Myers, Briggs, there's Organizations: New York Times, New York Magazine, SUNY, Kinsey Institute, George Mason University Locations: Costa Rica, North Carolina, Russian, Manhattan, Asheville, patrick, Fort Greene, San Francisco, Cooley, Sheepshead Bay , Brooklyn, British, polyworld, Boulder , Colorado, Vancouver, Brooklyn, COVID, Bahamas, Feeld, Fern

☆ Cramer names the No. 1 underappreciated megacap to buy in the recent tech stock sell-off
▼ + stars: | 2024-09-04 | by ( Morgan Chittum | ) www.cnbc.com time to read: +4 min

Jim Cramer said Microsoft shares could bottom Wednesday — and out of all the megacap tech stocks, this Club name is the one to buy. Wells Fargo also highlighted Microsoft's cybersecurity business. Similar to others in the sector, Microsoft's cybersecurity business can continue to rake in major corporations as clients as the threat of hacks and breaches remains elevated. In 2023, Microsoft CEO Satya Nadella said the company's cybersecurity business had surpassed $20 billion in revenue over a 12-month period. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer, Wells, Jim, Wells Fargo, Bing, Satya Nadella, Wells Fargo's bullishness, Piper Sandler, Jim Cramer's, Microsoft Corporation Satya Nadella, Chalinee Thirasupa Organizations: Microsoft, Wall, CNBC, Microsoft Corporation Locations: U.S, Bangkok, Thailand

☆ 10 major US cities where rent is affordable and falling fast as national apartment prices reach record highs
▼ + stars: | 2024-09-01 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

"Strong renter retention alongside our growing national rent index underscores the robust demand present in the US market." AdvertisementThe best explanation is that apartment supply remains capped in those markets, Zumper noted. Of those, 28 also happen to have lower rents for one-bedroom apartments than the national median of $1,534. To help renters save, Business Insider narrowed that list down even further to 10 cities where one-bedroom units are cheaper than the national median and rent is down at least 5% year over year. Below are those 10 cities along with their year-over-year and month-over-month rent changes, median rent prices, the monthly savings vs national median, and the national rent rankings among the nation's 100 largest real-estate markets.

Persons: —, Zumper, they've, Anthemos Georgiades Organizations: Service, Business, Syracuse University, Yale University, University of Kentucky, University of Wisconsin, University of Nebraska Locations: Syracuse , New York, New Haven , Connecticut, Lexington , Kentucky, Madison , Wisconsin, Lincoln , Nebraska, Madison, Lincoln, North Carolina, Texas

☆ A famed economist who called the 2008 recession warns the Fed is behind on rate cuts — and that a downturn is coming despite 'off the charts' investor sentiment
▼ + stars: | 2024-08-24 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

"Incredibly, the Fed raised rates 500 basis points under a false presumption — by over one million — of just how robust the jobs market was," Rosenberg said. AdvertisementIn addition to the yearly revisions, monthly payroll revisions from the Bureau of Labor Statistics have also been poor more recently. Related storiesOne is a model that aims to enhance the yield curve as a recession indicator by taking into account US businesses' ability to repay debts and the Fed's National Financial Conditions Index. A soft-landing outcome, where the Fed avoids sending the economy into recession, is also still the consensus view on Wall Street. With inflation down under 3% and rate cuts almost surely on the way, such a scenario is still seemingly possible.

Persons: —, David Rosenberg, Rosenberg, Merrill Lynch, Pascal Michaillat, Emmanuel Saez, Vane, Chuck Prince, Ian Shepherdson, Shepherdson, payrolls, Jerome Powell, Powell Organizations: Service, Federal Reserve, Rosenberg Research, Business, Bureau of Labor Statistics, Fed, Treasury, Pantheon, Labor Locations: Jackson Hole , Wyoming

☆ Next week has historically been a bright spot ahead of a tough market period
▼ + stars: | 2024-08-23 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Going back to 1953, the S & P 500 has climbed around 0.5% during the final week of August on a median basis, according to data analyzed by Bespoke Investment Group. That is a bright spot ahead of a historically weak period for the market. September ranks as the worst month on average for the S & P 500 going back to 1950, according to data from the Stock Trader's Almanac. Almanac data shows the S & P 500 is flat on average for the month. .SPX 1M mountain The S & P 500, 1 month The upcoming week also has some events that may move the market in the trading month's final days.

Organizations: Investment Group, Stock, Investors

☆ Americans just got the biggest confirmation yet of an interest rate cut next month — but the job market hangs in the balance
▼ + stars: | 2024-08-23 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

He offered details on the Fed's thinking as the next Federal Open Market Committee meeting approaches in September, with all eyes on the first interest rate cut since the pandemic began. AdvertisementIt's all but certain that the Fed will cut rates in September. That leaves the big question of how much — not if — the Fed will cut rates, and the upcoming jobs report will likely shed some light on that question. "Today, the labor market has cooled considerably from its formerly overheated state. "But the inflation and labor market data show an evolving situation.

Persons: Jerome Powell, Powell, Jackson, precarity, Austan Goolsbee, we've Organizations: Service, Federal, Business, CME, Bureau of Labor Statistics, Democratic, Chicago Fed

☆ How lower mortgage rates will impact the housing market
▼ + stars: | 2024-08-23 | 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 EmailHow lower mortgage rates will impact the housing marketTaylor Morrison CEO Sheryl Palmer joins 'Money Movers' to discuss the housing market as mortgage rates continue to tick lower and July's new home sales report shows significant gains.

Persons: Taylor Morrison, Sheryl Palmer

☆ Why you shouldn't worry about the job market and a recession just yet
▼ + stars: | 2024-08-14 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

Read previewThe labor market is trending in the wrong direction, but it might not be time to sound the alarm just yet. The unemployment rate has risen for four consecutive months and at 4.3%, it's the highest it's been in nearly three years. However, there are some reasons it might be too soon to freak out about the labor market. AdvertisementSatyam Panday, chief US economist for S&P Global Ratings, said in a note published on August 6 that the slowing labor market appears to suggest a "normalization" of a previously red-hot labor market, rather than an "economy that's about to slip into a recession." The labor market might get worseTo be sure, there are plenty of reasons to remain concerned about the state of the labor market.

Persons: —, there's, it's, Goldman Sachs, David Mericle, Manuel Abecasis, they've, It's, Goldman Sachs that's, Satyam Panday, Michael Gapen, JP Morgan, Claudia Sahm Organizations: Service, Federal Reserve, Business, Bureau of Labor Statistics, Labor Department, Federal, Satyam, Bank of America, Federal Reserve Bank of San Francisco, New Century Advisors Locations: US

☆ Asia-Pacific markets continue winning run as U.S. producer prices rises less than expected
▼ + stars: | 2024-08-14 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets have extended gains on Wednesday after producer prices in the U.S. came in lower than expected for July. In Japan, business sentiment at manufacturers turned slightly less confident in August compared with the month before, according to the Reuters Tankan survey. The Tankan survey — which tracks the Bank of Japan's quarterly survey of the same name — showed that the sentiment index for manufacturers slipped to +10 in August, while the non manufacturers index fell to +24. The Reserve Bank of New Zealand is also due to announce its latest decision on its official cash rate on Wednesday. Economist expectations are varied, with a Reuters poll forecasting the central bank will maintain rates at 5.5%.

Persons: Dow, — Organizations: Dow Jones, Reuters, Bank of Japan, Reserve Bank of New Locations: Ginza, Tokyo, Japan, Asia, Pacific, U.S, South Korea, China, Reserve Bank of New Zealand

☆ Inflation cooled in July, adding to the case for interest rate cuts at the next Fed meeting
▼ + stars: | 2024-08-14 | by ( Madison Hoff | ) www.businessinsider.com time to read: +3 min

It's the first time the inflation rate has been below 3% since March 2021, and it adds to the case that the Federal Reserve could cut rates at its next meeting. Over the month, the consumer price index rose 0.2% in July. The Fed is watching for inflation to cool before committing to rate cuts. Many economists think it's well past time for the Fed to cut interest rates and have expressed worries about the rapidly cooling labor market. AdvertisementThe labor market is cooling off, and it might be harder to get a job than a few years ago.

Persons: —, Jerome Powell, Nick Bunker, Claudia Sahm, Powell Organizations: Service, Federal, Business, Core CPI, of Labor Statistics, Fed, North America, Bureau of Labor Statistics, New Century Advisors, Federal Reserve

Traders work on the floor of the New York Stock Exchange during afternoon trading on July 26, 2024. Stocks have endured a brutal stretch, with the Nasdaq now flirting with correction territory since reaching an all-time high on July 10. Even so, a long-awaited rotation out of tech and into small caps — a trend that kicked off a few weeks ago — could still have legs. While all indexes have taken a beating in recent trading sessions, the Russell 2000 had shown signs of life before the so-called carry trade and worries about the U.S. economy disrupted its best run in years. What that means for youTwo things need to happen for small caps to regain momentum.

Persons: Stocks, Russell, Harris, Kamala Harris Organizations: New York Stock Exchange, Nasdaq, Finance, Federal Reserve Locations: U.S

☆ 3 data points that could impact how big of a Fed rate cut the market gets next month
▼ + stars: | 2024-08-13 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

Management blamed "higher interest rates and greater macroeconomic uncertainty" for pressuring consumer spending on home improvement projects. The recent data certainly supports the idea of a rate cut at the Fed's mid-September meeting. However, that's weeks away, we know things can turn on a dime in the data and the stock market. Lower rates can certainly impact the stock market — but when it comes to picking individual stocks, we remain focused on earnings. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Thursday's, Stanley Black, Decker, Stifel, bode, Russell, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nasdaq, PPI, Management, Dow, Home Depot, Trade, Costco, Depot, CNBC, New York Stock Exchange, Getty Locations: U.S, New York City

☆ 2 trades to make now amid 6 economic pitfalls ahead, according to a Bank of America chief strategist
▼ + stars: | 2024-08-13 | by ( Laila Maidan | ) www.businessinsider.com time to read: +7 min

Japan's low interest rates made its currency a cheap option to borrow and fund other trades in the US and worldwide. So there's $6 trillion sitting in money market funds that is being held hostage to politics, he added. Advertisement"We've had these episodes of market volatility in the past, and the only path was in and out of equities," Quinlan said. Remember, as interest rates come down, you lock in two-, five-, or 10-year yields. Those money market funds are going to come down as the interest rates come down."

Persons: —, Joe Quinlan, Quinlan, it's, There's, You've, capex, Donald Trump, We've, Russell, We're Organizations: Service, Nasdaq, Dow, Merrill, Bank of America Private Bank, Business, Reserve, Big Tech, Labor Locations: China, Israel, Iran

☆ JPMorgan's guide to trading two huge economic reports this week
▼ + stars: | 2024-08-13 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

On Thursday, traders get the latest reading on the state of the consumer with retail sales data for July. Hot CPI and inline retail sales (up 0.1% to 0.5%) — JPM believes that a hot CPI print and retail sales matching expectations could fuel "stagflation risks." Expect the S & P 500 to gain and Nasdaq and Russell to perform similarly. Inline CPI and cool retail sales — How much equities move in this outcome depends on the magnitude of the downside surprise in retail sales. In this scenario, traders expect a broadening in the market that includes the S & P 500 gaining.

Persons: Dow Jones, Jerome Powell, Jackson, — JPM, Russell, JPM Organizations: Federal, JPMorgan, CPI, Wall, Federal Reserve, Bank of, Nasdaq, Russell

Mortgage rates are down today compared to where they've been in recent weeks, with 30-year mortgage rates hovering in the low 6% range, according to Zillow data. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 15-Year Fixed Mortgage RatesLast week, average 15-year mortgage rates were 5.63%, a 36-basis-point decrease from the previous week, according to Freddie Mac data. Mortgage rates have been elevated for most of 2024, but they've been trending down in recent months. Once the Fed cuts rates, mortgage rates should fall even further.

Persons: they've, you'll, Freddie Mac, it's Organizations: July's, CPI, Federal Reserve, Zillow Locations: Chevron

☆ Trump, Vance double down on call for presidential influence on Fed policy
▼ + stars: | 2024-08-12 | by ( Jessica Dickler | ) www.cnbc.com time to read: +6 min

Joe Raedle | Getty ImagesThe president has no direct control over interest ratesAs it stands, the president exerts no direct control over interest rates. The Federal Reserve sets interest rates, and it operates independently of the White House. Last month, Trump said that if elected he would "bring interest rates way down." Now, however, Trump has cautioned against the Fed lowering rates shortly before the presidential election in November. "I think he's going to do something to probably help the Democrats, I think, if he lowers interest rates."

Persons: Donald Trump, Joe Raedle, Brett House, Trump, Fed Trump, Jerome Powell, Trump's, reappoint Powell, Powell, Greg McBride, Wells Fargo Organizations: Federal Reserve, White, Fed, Columbia Business School, Reserve Act, Republican, National Association of Black Journalists, Markets, U.S, Bloomberg Businessweek, Fox Business, Barclays Locations: Lago, Palm Beach , Florida, Chicago

☆ Treasury yields rise as attention turns to inflation data
▼ + stars: | 2024-08-12 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was up by more than two basis points to 3.9647%. U.S. Treasury yields were higher on Monday as investors looked ahead to the latest inflation prints and other key economic data slated for the week. Amid continued uncertainty about the state of the U.S. economy, investors looked ahead to fresh inflation data due this week. When the Fed met last month, it left rates unchanged, but hinted that a September rate cut was on the table, depending on signals from economic data, both on the inflation and labor market front. Markets are pricing in a 100% chance of a rate cut from the Fed in September, but traders were last split on the size of the cut, CME Group's FedWatch tool showed.

Organizations: Treasury, U.S, Federal, Fed Locations: U.S

Search resuls for: "July's"

25 mentions found