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☆ Stocks making the biggest moves premarket: VF Corp, McDonald's, Pfizer, PayPal and more
▼ + stars: | 2024-10-29 | by ( Sean Conlon | ) www.cnbc.com time to read: +6 min

For the fiscal second quarter, the company posted adjusted earnings of 60 cents per share on $2.76 billion in revenue. Cadence Design Systems – The stock jumped more than 5% after the electronic design company's third-quarter earnings beat Wall Street estimates. JetBlue's third quarter results did beat analyst estimates on the top and bottom lines. PayPal – Shares fell 3% after PayPal posted third-quarter revenue that missed expectations. Crocs – Shares tumbled around 12% despite the company's third-quarter earnings beating estimates.

Persons: Ford, Trex, FactSet, Jim Conroy, John Hazen, Conroy, Crypto, Stocks, Horton, PayPal –, StreetAccount, Crocs, Lisa Kailai Han, Samantha Subin, Jesse Pound, Sarah Min, Pia Singh, Tanaya Macheel, Michelle Fox Theobald Organizations: Corporation, Ford Motors, Cadence, Systems, BP –, Pfizer, Revenue, Ross Stores, JetBlue –, JetBlue, LSEG, Mizuho, PayPal, FactSet, Xerox

☆ Stocks making the biggest moves midday: VF Corporation, Pfizer, F5, JetBlue and more
▼ + stars: | 2024-10-29 | by ( Brian Evans | ) www.cnbc.com time to read: +5 min

Check out the companies making headlines in midday trading: VF Corporation — Shares jumped more than 22%. VF Corporation posted adjusted earnings of 60 cents per share on revenue of $2.76 billion. That is above the 37 cents per share in earnings and $2.71 billion in revenue that analysts surveyed by LSEG were expecting. The firm also upped the midpoint of its non-GAAP earnings per share forecast for the full year. F5 posted adjusted earnings of $3.67 per share and revenue of $747 million in the fiscal fourth quarter.

Persons: LSEG, Jim Conroy, Trex, FactSet, Xerox, Horton, Corning, — CNBC's Pia Singh, Michelle Fox, Samantha Subin, Sean Conlon, Alex Harring Organizations: —, Cadence, BP — U.S, BP, Pfizer, JetBlue Airways —, JetBlue, LSEG, Xerox, FactSet, PayPal, Caribbean, Ford Locations: Corning

☆ British oil giant BP posts weakest quarterly earnings in nearly four years on lower crude prices
▼ + stars: | 2024-10-29 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

British oil and gasoline company BP (British Petroleum) signage is being pictured in Warsaw, Poland, on July 29, 2024. British oil major BP on Tuesday reported its weakest quarterly earnings in nearly four years, weighed down by a slump in crude prices and lower refining margins. The energy firm posted underlying replacement cost profit, used as a proxy for net profit, of $2.3 billion for the July-September period. BP reported net profit of $2.8 billion for the second quarter of the year and $3.3 billion for the third quarter of 2023. The firm's third-quarter results were the weakest since the fourth quarter of 2020, when industry profits cratered during the coronavirus pandemic.

Persons: Murray Auchincloss Organizations: BP, British Petroleum Locations: Warsaw, Poland

☆ Yen slips as Japan's election result clouds BOJ rate hike prospects
▼ + stars: | 2024-10-28 | by ( ) www.cnbc.com time to read: +3 min

The yen touched a three-month low on Monday as Japan's ruling coalition lost its parliamentary majority and investors figured that would likely slow future interest rate hikes, while the dollar headed for a monthly gain on rising U.S. yields. On the dollar, the yen hit its weakest since late July at 153.3 in early-morning trade and it touched the same milestone at 165.36 to the euro . That was down from the 279 seats they held previously and marked the coalition's worst result since it briefly lost power in 2009. The U.S. dollar index has climbed 3.6% during October, its sharpest monthly rise since April 2022. The New Zealand dollar traded near a three-month low of $0.5974, down nearly 6% for the month.

Persons: Shigeru Ishiba's, Komeito, Donald Trump, Sterling Organizations: Shigeru Ishiba's Liberal Democratic Party, NHK, Bank of Japan, Nomura, U.S, gilts, Australian, New Zealand Locations: Japan, U.S, Europe, Australia, China

☆ Store closings have hit their highest level in years. Competition and higher prices crushed them
▼ + stars: | 2024-10-25 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +8 min

“It kept these players alive that couldn’t survive in normal situations.”Competition from juggernauts like Amazon, Walmart, Costco, Home Depot and other big-box retailers has also squeezed smaller chains. In 2017 and 2018, retailers closed a combined 13,400 stores, according to Coresight. Retailers closed a record 9,800 stores in 2019. Around 9,700 stores closed in 2020, according to Coresight. Drug store chains are also shrinking.

Persons: —, ”, Michael Brown, Kearney, ” Brown, Barbara Kahn, Charlotte Russe, Shopko, Ted Decker, Joann Fabric, Denny’s, Kelli Valade, Justin Sullivan, Amazon’s, It’s, ” Kahn, TJ Maxx, TJX Organizations: New, New York CNN, Walgreens, Research, Companies, Consumers, “, Walmart, Costco, Home, ” Retailers, United, University of Pennsylvania’s Wharton School, Coresight, Retailers, Sears, P Global Market Intelligence, CVS, Aid, Marshalls, Aldi Locations: New York, “, Amazon, United States, Gymboree, JCPenney, Tijuana, HomeGoods

☆ The art market is in a correction as big spenders fade
▼ + stars: | 2024-10-24 | by ( Robert Frank | ) www.cnbc.com time to read: +5 min

The number of wealthy collectors surveyed who plan to purchase art in the next year fell to 43% from over half in 2023. The median spending on art by wealthy collectors remains stable at around $50,000 a year, according to the survey. Higher interest rates also raised the opportunity cost of buying art, since wealthy collectors could earn an easy 5% or more from cash and Treasuries. Just as in the classic-car market, the art market is going through a generational shift that's created a mismatch between supply and demand. According to the survey, the high end of the art market, or works priced at $10 million or more, was the strongest before 2022.

Persons: Andy Warhol, Jean, Michel Basquiat, Wiktor, Robert Frank, Phillips, Bonhams, Paul Donovan, Xers, they're, Donovan, Gen Xers, Gen Organizations: Art Basel, UBS Survey, UBS Global Wealth Management, Art Basel Miami Beach, Dealers, UBS Locations: London, United Kingdom, Christie's, Sotheby's, New York, East, Ukraine, Europe, China

☆ Women soccer players call on FIFA to cut ties with Saudi oil giant Aramco
▼ + stars: | 2024-10-21 | by ( Ben Church | ) edition.cnn.com time to read: +5 min

CNN —More than 100 soccer players from the women’s game have signed an open letter to FIFA, urging the sport’s world governing body to end its sponsorship deal with Saudi oil and gas company Aramco. In April this year, FIFA announced a four-year global partnership with the majority state-owned oil giant, giving it sponsorship rights to the 2026 men’s World Cup and the 2027 Women’s World Cup. “The Saudi authorities trample not only on the rights of women, but on the freedom of all other citizens too,” the letter, addressed to FIFA president Gianni Infantino, said. Last year, it produced an average of 12.8 million barrels of oil a day, far more than any other company. US oil and gas companies combined, however, produce more than Saudi Arabia, according to a 2023 analysis from the US Energy Information Administration.

Persons: Vivianne Miedema, Becky Sauerbrunn, trample, Gianni Infantino, “, Miedema, ”, John Walton, Prince Mohammed bin Salman, sportswashing Organizations: CNN, FIFA, Saudi, Manchester City, Saudi Aramco, BBC, CNN Sport, Aramco, Manchester, Fox News, US Energy Information Administration, “ Grassroots, ”, Women’s Locations: Saudi, Aramco, Saudi Arabia, Saudi Aramco

Matthew is serving a 7-year prison sentence in Singapore's Changi Prison for trafficking meth. Officials from the Singapore Prison Service say they encourage guards to think of themselves as “Captains of Life,” helping rehabilitate the prison population. Officials did not allow CNN to visit Institution A1, where more than 40 death row inmates await the same fate. Before each execution, authorities organize a professional photo shoot in which inmates trade their prison uniforms for civilian clothes. Hong Kong’s population is around 25% larger than Singapore’s, and it does not impose the death penalty for drug offenses.

Persons: Matthew, “, ”, Tom Booth, ” Shanmugam, Shanmugam, Rebecca Wright, ” Matthew, Steve Jobs, Nelson Mandela, Reuben Leong, –, Halinda binte Ismail, Halinda, Muhammed Izwan bin, ” Halinda, ’, Kirsten Han, Nazira, you’ve Organizations: Singapore CNN —, CNN, Changi, Singapore, Singapore’s, Home Affairs and Law, Visitors, Action Party, Home Affairs Ministry, Home Affairs, CNN Singapore, United Nations Office, Drugs, CNN Authorities, Singapore Prison Service Locations: Singapore, Canada, Portugal, Iran, North Korea, Saudi Arabia, Asia, Thailand, Laos, Myanmar, Scandinavian, mealtimes, United States, Australia, European, Hong Kong, British, –

He received the news of Sinwar’s death with “deep sadness and pain because (Sinwar) is a noble resister” – and predicted he would soon be replaced. For Abu Fares, one of hundreds of thousands prevented from returning to their homes, Sinwar’s death is just a continuation of a brutal war. Palestinians say they remain skeptical over whether Sinwar's death will shift Israel's war, which has laid waste to swathes of Gaza. Omar Al-Qatta/AFP/Getty ImagesAround 70% of Palestinians killed by Israel’s strikes are women and children, according to the Hamas-run Government Media Office (GMO). Mahmoud Jneid, also displaced in Deir al-Balah, said the world’s focus should rest on civilian suffering – not Sinwar’s death.

Persons: Deir, Gaza CNN — Abu Mohammed, Mohammed, Yahya Sinwar, Sinwar’s, Gaza – Mohammed, ” Mohammed, ”, Israel’s, Sinwar, Omar Al, Majdal, “ Sinwar, Israel, “, Benjamin ) Netanyahu, Netanyahu, Akram Dabbour, –, ” Dabbour, that’s, Mustafa Barghouti, ” Barghouti, CNN’s Christiane Amanpour, Abu Fares, Suha Al Turk, Balah, Mahmoud Jneid, ” Jneid Organizations: Gaza CNN, Israel, CNN, Getty, Israel Defense Forces, Amnesty International, CUNY Institute, Ministry of Health, UN, Shifa, Media Office, Hamas, Amnesty Locations: Gaza, Deir al, Rafah, Jabalia, AFP, Al, Ashkelon – Sinwar, Israel, Gaza's Al, Nazla, Jabalya, Gaza City

☆ Prince Andrew's future is murkier than ever. But the royals may never fully cut ties.
▼ + stars: | 2024-10-19 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +7 min

Prince Andrew's "Newsnight" interview has been depicted in a new series. AdvertisementThe public may not completely forgive Prince Andrew's controversies – but the royal family might, according to royal experts. AdvertisementSchofield said the institution is unlikely to ever fully reject Prince Andrew. However, she noted that his involvement in family events could be scaled back when Prince William ascends the throne. "Prince William is incredibly intelligent and recognizes that you are only as strong as your weakest member.

Persons: Prince Andrew's, Duke, York, Jeffrey Epstein, Andrew, —, Prince, Kinsey Schofield, he'd, Andrew's, Prince Andrew, Gillian Anderson, Rufus Sewell, Billie Piper, Sam McAlister, Emily Maitlis, Ruth Wilson, Michael Sheen, Epstein, Ghislaine Maxwell, Epstein's, Virginia Roberts Giuffre, Maxwell, Maitlis, King Charles, King Charles and Prince William, Princess Beatrice, Princess Eugenie, Kristien, Sovereign Grant, Richard Fitzwilliams, Sarah Ferguson, it's, Ferguson, MailOnline, Victoria, Schofield, Prince William, King William, William, Kate, Prince Harry —, Buckingham Organizations: Service, BBC, YouTube, Netflix, Amazon, Palace, International Trade, Investment, KPMG, Standard Chartered, Cisco, BBC News, Sovereign, Telegraph Locations: Windsor, Porta

☆ Analysis: Sinwar’s killing brings end of Gaza war within reach – if Israel can seize the chance
▼ + stars: | 2024-10-18 | by ( Ivana Kottasová | ) edition.cnn.com time to read: +7 min

And it could bring the devastating war in Gaza closer to an end, experts say – if Israel and its allies can seize the opportunity. Before the war, power in Hamas was decentralized – with Gaza political chief Sinwar just one of many leaders, Chorev said. Shira Efron, a senior director of policy research at the Diane and Guilford Glazer Foundation said Sinwar’s killing gives Netanyahu the chance to claim a victory. Sinwar’s killing could also pave the way for a hostage and ceasefire agreement, since he was believed to be one of the main blockers of a deal. Chorev, from Tel Aviv University, added that Netanyahu could see Sinwar’s killing as a moment to cement his legacy.

Persons: Yahya Sinwar’s, Harel Chorev, Moshe Dayan, Sinwar, Chorev, “ Sinwar, Mohammed Deif, ”, Mohammed, Khalil Al Hayya, ” Chorev, Netanyahu’s, ’ Netanyahu, Shira Efron, Diane, Guilford, Netanyahu, “, Einav Zangauker, Matan, Uzi Rabi, Critics of Netanyahu, Joe Biden, clawing, Rabi, Yoav Gallant, Efron, ” Efron Organizations: CNN, Israel, Moshe, Tel Aviv University, Gaza, Hamas ’, Hamas, Guilford Glazer Foundation, ” Locations: Israel, Gaza, Cairo, “ Israel, United States, Lebanon, Rafah, ”, Gaza’s

☆ Luxury stocks slide as LVMH disappoints and Wall Street eyes few signs of stronger China demand despite stimulus
▼ + stars: | 2024-10-16 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +4 min

The Dior and Louis Vuitton parent pointed to weak consumer demand in China. Wall Street analysts say recent stimulus measures likely won't be enough for spending in China to rebound. The company pointed to overwhelmingly weak demand in China, with organic sales in Asia (excluding Japan) falling 16%. The company gave vague forward guidance, and analysts on Wall Street say the country's recent stimulus won't be enough to reverse the weak demand. China's latest stimulus package, unveiled late last month, has aimed to prop up the country's weak consumer demand and struggling property sector.

Persons: LVMH, Hermes, Dior, Louis Vuitton, —, Christian Dior, Jean, Jacques Guiony, Guiony, We've Organizations: L'Oreal, Wall Street, Service, Wall, Citigroup Inc Locations: China, Asia, Japan

☆ Aussie hit by China stimulus scepticism; US dollar firm on Fed outlook
▼ + stars: | 2024-10-16 | by ( ) www.cnbc.com time to read: +3 min

The Aussie dropped as much as 0.51% to $0.6669, the lowest since Sept. 12, before changing hands down 0.38% at $0.6678 as of 0133 GMT. The New Zealand dollar sank as much as 0.69% to $0.6041, a level last seen on Aug. 19. China will hold a press conference on Thursday to discuss promoting the "steady and healthy" development of the property sector. The dollar was little changed at 149.135 yen , not far from Monday's high of 149.98 yen, the strongest since Aug. 1. The euro edged 0.05% lower to $1.08875, and earlier touched $1.0882, matching the low from Tuesday, which was the weakest level since Aug. 8.

Persons: There's, Ray Attrill, there's, Attrill Organizations: New Zealand, National Australia Bank, Statistics, U.S, Traders, Fed, European Central Bank Locations: New Zealand, Beijing, China, Statistics New Zealand

☆ Won't be surprised if China restructures several regional banks
▼ + stars: | 2024-10-16 | 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 EmailWon't be surprised if China restructures several regional banks: Moody's RatingsDavid Yin of Moody's Ratings says that the net interest margins of Chinese banks will continue to decline and that the small regional banks are the weakest part of China's banking system.

Persons: David Yin, Moody's Locations: China

☆ China's luxury market has been in a slump, and we're about to find out how bad it really is
▼ + stars: | 2024-10-15 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +4 min

China's luxury market could face its worst quarter in four years, amid aggressive stimulus measures. AdvertisementLuxury brand investors are bracing to see if China's aggressive stimulus measures could be enough to pull its faltering luxury market out of the woods. While Beijing's recent moves to inject liquidity and lower interest rates have sparked some hope in pulling Chinese shoppers out of their spending slump, experts are skeptical of an immediate revival of China's luxury market. Related storiesWhile China's poor economic growth had deterred luxury spending for some, others continued their luxury shopping sprees — outside China. AdvertisementAlthough the outlook for China's luxury market remains bleak in the short run, Jefferies analysts are expecting a recovery as soon as 2025, Reuters reported.

Persons: bellwether, —, Markus Hansen, LVMH, Patrice Nordey, Trajectry, Nordey, Marc Jacobs, Hermès Organizations: Service, Burberry, Reuters, CNBC, Jefferies Locations: China, Asia, Japan, Paris, Shanghai, LVMH

Are we living through another Lamar Jackson MVP season? The Bears defense has also been phenomenal and will keep them in games even when Williams will inevitably struggle, as all rookies do. Full disclosure: One of my bold predictions entering the season was that Rattler would wind up taking Derek Carr’s job this season. The bigger concern is the Saints’ defense, which surrendered 600 yards and 50 points and allowed the Bucs to convert 6 of 10 third downs. It doesn’t matter who plays quarterback — the Saints defense has to put up some resistance.

Persons: Lamar Jackson’s, Jayden Daniels, Tim Graham, Mike Jones, Ted Nguyen, Lamar Jackson, Jones, Jackson, Derrick Henry, I’d, Henry, Graham, Josh Allen, Allen, Allen doesn’t, Josh, Nguyen, He’s, lookin ’, They’ve, I’m, Caleb Williams, — don’t, Shane Waldron, —, Williams, It’s, Keenan Allen, he’ll, Drake Maye, we’ve, Maye, Jacoby Brissett, Will Anderson, Kayshon Boutte, Rhamondre Stevenson, they’re, Spencer Rattler, Rattler, Baker Mayfield, Todd Bowles, Derek Carr, Chris Olave, Derek Carr’s, Carr, don’t, Patrick Smith Organizations: Lamar Jackson’s Ravens, The Athletic NFL, AFC, Ravens, Baltimore, Chicago Bears, NFC, Rams, Panthers, Jaguars, Falcons, Bears, Chicago, Detroit, Sunday, Patriots, Texans, Dolphins, Jets, NFL, woeful Jaguars, Houston, Saints, Bucs Locations: Baltimore, Cincinnati, muffle, Bay , Minnesota, New England, New Orleans, South Carolina, Rattler, Oklahoma

☆ China’s ‘New Great Wall’ Casts a Shadow on Nepal
▼ + stars: | 2024-10-12 | by ( ) www.nytimes.com time to read: +14 min

Hilsa Village NEPAL CHINA Area of detail CHINA Humla District NEPAL Kathmandu INDIA 75 miles NEPAL CHINA Hilsa Village CHINA Area of detail Humla District NEPAL Kathmandu INDIA 75 miles Source: OpenStreetMap, ESRI By Agnes ChangThe Nepalis have other complaints, too. “This is the new Great Wall of China,” said Jeevan Bahadur Shahi, the former provincial chief minister of the area. Without proper roads, it takes goat herders three days to cover the seven miles from Simikot, Nepal, to Humla. CHINA NEPAL CHINA-NEPAL BORDER CHINA NEPAL CHINA-NEPAL BORDER CHINA NEPAL CHINA-NEPAL BORDERThe Chinese side used to be nearly as remote, the seclusion broken only by a flow of pilgrims to Mount Kailash, which is holy to four faiths. Just 20 miles away is the junction of China, Nepal and India.

Persons: Nepalis, Agnes Chang, Dalai Lama, ”, Jeevan Bahadur Shahi, Xi’s, Xi, Brian Hart, ” Mr, Hart, Arzu Rana Deuba, —, Saud, Saud’s, “, Mr, Deuba, Pan Yue, China “, Shahi, Lhamu Lama, Hilsa, Pema Wangmu Lama Organizations: Chinese Communist Party, Covid, China Power, Center for Strategic, International Studies, Liberation Army, U.S . Department of Defense, The New York Times, Nepali Home Ministry, The Times, Communist, Security, Guard, Times, National Ethnic Affairs, Nepali Locations: Tibet, Nepal, Nepal’s Humla District, China, Hilsa, NEPAL CHINA, CHINA Humla District NEPAL Kathmandu INDIA, NEPAL CHINA Hilsa, CHINA, Humla, NEPAL Kathmandu INDIA, ESRI, Nepali, Nepal’s Humla, Simikot, Beijing, Washington, Philippine, India, Humla District, N.P, Hulma, Kathmandu, Vietnam, People’s Republic of China, CHINA NEPAL CHINA, NEPAL, Mount Kailash, Xinjiang, Purang, ”, Bhutan, District

☆ Photos show some houses survived Hurricanes Helene and Milton while their neighbors crumbled. Homeowners can learn from them.
▼ + stars: | 2024-10-11 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: 1 min

"If you're doing only one thing, do the garage door because that is your largest and weakest opening," Chapman-Henderson said. Debris from damaged houses surround houses still standing after Hurricane Helene made landfall in Horseshoe Beach, Florida. CHANDAN KHANNA / AFPThat's why Chapman-Henderson says it's the most important part of the house to board up ahead of a storm, and the first thing to consider upgrading. The cheapest is to grab a drill and board up the garage door with wood 2-by-4s ahead of any incoming storm. Finally, homeowners can spend a few thousand dollars on a new garage door that's rated to withstand high winds.

Persons: Chapman, Henderson, Hurricane Helene, CHANDAN KHANNA Locations: Horseshoe Beach , Florida

☆ Dollar hovers near two-month peak as Fed easing bets ebb before inflation data
▼ + stars: | 2024-10-10 | by ( ) www.cnbc.com time to read: +3 min

The U.S. dollar traded near a two-month peak against major peers on Thursday as markets grew more confident about a patient approach from the Federal Reserve to further monetary easing, even as a key inflation report loomed later in the day. The U.S. dollar traded near a two-month peak against major peers on Thursday as markets grew more confident about a patient approach from the Federal Reserve to further monetary easing, even as a key inflation report loomed later in the day. The euro languished near its lowest since Aug. 13, while against the yen, the dollar hovered close to its strongest level since Aug. 15. The dollar index was little changed at 102.86 as of 0024 GMT, sticking close to Wednesday's high of 102.93. The greenback eased 0.18% to 149.035 yen , but was not far from the overnight peak of 146.365.

Persons: Kyle Rodda, —, Rodda, Mary Daly Organizations: U.S ., Federal Reserve, Reuters, U.S, CPI, Francisco Fed, Traders, New Locations: U.S

☆ JPMorgan recommends stocks to buy if economic recovery continues into the holidays
▼ + stars: | 2024-10-09 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Last month, the Federal Reserve slashed interest rates by a half point – the first time the central bank cut rates since 2020. Since the Sept. 18 meeting, the market has moved even higher, with all three major averages gaining between 1% and 3%. The bank noted that several of the companies in the screen have lagged the cyclical recovery, making the stocks likely to benefit from the market's ongoing rotation. JPMorgan rates Alaska Air overweight. Wall Street is rather bullish on the name, as 10 of the 14 analysts covering the stock have a buy or strong buy rating.

Persons: Dubravko, Bujas, E.l.f, Tarang Amin, CNBC's, Brian Niccol, Elliott Hill Organizations: JPMorgan, Federal Reserve, Federal, Fed, Alaska Air, Hawaiian Airlines, U.S . Department, Starbucks, Nike

☆ Dollar on a roll after U.S. jobs data and Middle East flare-up
▼ + stars: | 2024-10-07 | by ( ) www.cnbc.com time to read: +3 min

Bank notes of the Chinese yuan, Japanese yen and the U.S. dollar. Japan's yen fell to its lowest in nearly two months and other major currencies too were grappling with losses early on Monday as the dollar extended a rally sparked by Friday's strong U.S. jobs data and an escalation in the Middle East conflict. But that came on top of a more than 4% decline last week, its biggest weekly percentage decline since early 2009. Yields dipped early last week when investors bought safe-haven Treasuries after Iran launched more than 180 missiles against Israel in escalating geopolitical tensions. Market expectations have swung to the extreme for the Federal Reserve to do just a 25 bps cut in November, rather than 50 bps, following the jobs data.

Persons: Friday's, Chris Weston, haven't, Brent, underperformance, Shigeru Ishiba, Sterling, Huw Pill, Andrew Bailey, BoE Organizations: U.S ., Federal, U.S, Treasuries, Federal Reserve, Bank of England Locations: China, East, Israel, Lebanon, Gaza, Iran, Japan

☆ South Korea inflation cools more than expected as rate cut talk grows
▼ + stars: | 2024-10-02 | by ( ) www.cnbc.com time to read: +1 min

Pedestrians walk past food stalls and shops in the Myeongdong shopping district of Seoul on March 26, 2024. South Korea's consumer inflation cooled more than forecast in September and below the central bank's target for the first time since early 2021, amid growing expectations of an imminent policy easing. The consumer price index rose 1.6% in September from a year earlier, after a rise of 1.9% in August, data from Statistics Korea showed on Wednesday. It was weaker than a median 1.9% increase tipped in a Reuters poll of economists and marked the weakest annual increase since February 2021. The reading was below the Bank of Korea's medium-term target of 2% and comes amid growing talk among policymakers and market participants about an imminent interest rate cut with the next policy meeting scheduled for Oct. 11.

Organizations: Statistics Korea, Bank of Locations: Seoul

☆ Investors hope October paves way for records as cryptocurrency enters historically strong month
▼ + stars: | 2024-10-01 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

A September surprise has given bitcoin a head start on a potential run to record highs in the fourth quarter. The cryptocurrency posted a 7.7% gain for September — historically its weakest month of the year — and its best month since May. The month has become known to native crypto investors as "Uptober." … As crypto becomes increasingly correlated with traditional markets, it's expected to be another strong month." Investors expect bitcoin's price will be driven by rate cuts, more inflows into bitcoin ETFs by institutions and clarity following the election.

Persons: Ether, Bitcoin, Jerome Powell, James Davies, " Davies, David Duong, Duong, we've, bitcoin, it's, — CNBC's Michael Bloom, Nick Wells Organizations: U.S, International Longshoremen's Association, Gulf Coasts, bitcoin Locations: U.S, China

☆ Eric Adams has the SCOTUS supermajority to thank as he challenges his bribery charge
▼ + stars: | 2024-09-30 | by ( Laura Italiano | ) www.businessinsider.com time to read: +6 min

In a court filing on Monday, Adams attorney Alex Spiro cites a groundbreaking June SCOTUS decision as reason enough to toss the bribery count. AdvertisementFederal prosecutors say Adams enjoyed nearly a decade of globe-circling Turkish Airlines trips. "I know," the feds say Adams responded when told by the staffer that Turkey saw this as "his turn" to reciprocate. (In addition to Spiro, Adams is represented by Avi Perry and William Burck. Adams has pleaded not guilty to the indictment, which also charges him with illegally accepting campaign contributions from Turkish officials and others via straw donors.

Persons: SCOTUS, Adams, —, Eric Adams, It's, Alex Spiro, Snyder, Spiro, Michel Paradis, Paradis, Brett Kavanaugh, Avi Perry, William Burck, Anthony Kennedy, Kavanaugh, Spiro didn't Organizations: New York City, Service, US, Indiana, Columbia Law School, Prosecutors, Turkish Airlines, Fox Corp, New York Times, Turkish, Justice Department Locations: New York, United States, Turkey, Turkish, Spiro, Burck

☆ Bitcoin and crypto stocks sink after last week's rally, but still head for a positive September
▼ + stars: | 2024-09-30 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Crypto stocks Coinbase slid 5% and MicroStrategy fell 2%. Bitcoin and crypto stocks retreated on the final trading day of September, following a rally last week, but are still poised to post a positive month. The combined net buying volume of U.S. bitcoin ETFs last week (16,774 BTC) exceeded a typical one-month supply of newly mined bitcoin (13,500), according to Bitwise-owned ETC Group. For the month, bitcoin is on pace to finish its strongest September ever with an 8% gain and its second positive September – historically the cryptocurrency's weakest month – in a row. The market is heading into a seasonally strong quarter for crypto and risk assets broadly.

Persons: cryptocurrency, Coinbase, MicroStrategy Organizations: Metrics, Analysts, BTC, People's Bank of China, U.S Locations: Coast, Gulf

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