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☆ How Trump policies may boost and burden energy stocks and crude oil, all at the same time
▼ + stars: | 2024-11-13 | by ( Spencer Kimball | ) www.cnbc.com time to read: +6 min

While oil stocks tend to follow the direction of crude prices, the energy sector has gained 3.6% since election day, slightly outpacing the S & P 500. Conflicting signals The crude futures market and the oil and gas stocks appear to be taking different messages from Trump's victory. Since the election, natural gas stocks have been big winners on the prospect of more pipeline permitting. The oilfield services companies are also major beneficiaries under a Trump administration, West said. Oil surplus headwind More ominously, an oil and gas production boom under Trump would lower crude oil prices and likely act as a headwind for the industry.

Persons: Donald Trump's, Brent, Andrew Dittmar, Trump, Dittmar, Biden, James West, EQT, Kinder Morgan, West, Baker Hughes, Halliburton, Lee Zeldin, Zeldin, Russia —, Morgan Stanley, Wells, Roger Read, Darren Woods, I'm, Woods, CNBC's Organizations: West Texas Intermediate, Enverus Energy Intelligence, Republican, White, American Petroleum Institute, Oil, Gas, ETF, Interior Department . Offshore drillers, Noble Corporation, Evercore ISI, Pipeline, Williams Companies, Cheniere Energy, Industries, Trump, SLB, New, New York GOP, Environmental Protection Agency, Fox News, Biden, EPA, " Companies, Investors, Department of Energy, CNBC, Exxon Mobil, Exxon, Chevron, White House, Capitol, ISI Locations: China, Gulf of Mexico, Tidewater, Transocean, Gulf, Trump, New York, U.S, Saudi Arabia, Russia, Wells Fargo

☆ This city has the largest percentage of $1 million homes—it's not New York
▼ + stars: | 2024-11-13 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

The number of million-dollar homes is increasing across the U.S., but they're highly concentrated in certain places, according to a November LendingTree analysis. San Jose, California, tops the list of U.S. metros with the highest share of million-dollar homes with 72% of owner-occupied homes worth over $1 million, according to LendingTree. San Jose isn't the only California metro area with a large share of million-dollar homes. However, it's worth pointing out while New York has a lower percentage of million-dollar homes, it has a higher total number of them than San Jose or San Francisco. Here are the 10 U.S. metro areas with the highest share of $1 million homes, according to LendingTree.

Persons: Jose isn't Organizations: Census, American, Survey, U.S, metros, Homes, San Diego Locations: U.S, San Jose , California, It's, San Jose, California, San Francisco , Los Angeles, New York, Jose, San Francisco

☆ Goldman sees 20% upside as Philip Morris moves to mostly smoke-free products such as Zyn
▼ + stars: | 2024-11-13 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Philip Morris shares have more room to run as the Marlboro maker continues to shift its focus from cigarettes to smoke-free products, according to Goldman Sachs. Herzog also reiterated her buy rating and called Philip Morris a top pick heading into 2025. Philip Morris announced earlier this year that it would invest $600 million to build a new Zyn production facility in Colorado. PM YTD mountain PM, year to date Herzog also said Philip Morris shares will benefit from the domestic debut of heated tobacco product Iluma. Philip Morris shares have jumped more than 33% in 2024.

Persons: Philip Morris, Goldman Sachs, Bonnie Herzog, Herzog, Philip Locations: Marlboro, Tuesday's, U.S, Colorado

☆ UBS upgrades 3M to buy, says shares can rally more than 40%
▼ + stars: | 2024-11-13 | by ( Sean Conlon | ) www.cnbc.com time to read: +1 min

3M is poised to see a return to steady growth in the months ahead, according to UBS. The bank raised its rating on the stock to buy from neutral and hiked its price target to $184 from $130, reflecting more than 41% upside. Mehrotra said the company could see 40% earnings growth by 2028 if the CEO is successful in his efforts. Mehrotra is among the 10 analysts on Wall Street who have a strong buy or buy rating on the name, per LSEG. The average price target of $144.74 implies around 11% upside.

Persons: Amit Mehrotra, William Brown, Mehrotra Organizations: UBS, MMM, Wall Locations: repurchases

☆ Inside AI-Healthcare Startup Forward's Demise
▼ + stars: | 2024-11-13 | by ( Rebecca Torrence | Rob Price | ) www.businessinsider.com time to read: +13 min

The healthcare startup Forward bet the future of its business on a spaceshiplike mall kiosk in Roseville, California. AdvertisementEleven former Forward employees spoke with BI before the closure on the condition of anonymity to avoid retribution from the company. Two former employees told BI that, at that time, the startup was set to run out of money in less than a year. Lea Suzuki/The San Francisco Chronicle via Getty ImagesThe CarePods came with many financial and logistical challenges, former employees told BI. Most former employees BI spoke with said they still believed in Forward's mission.

Persons: —, Elon, Adrian Aoun, Axios, Forward's, fundraise, Forward, Rob Price, Larry Page's, Aoun, Rebecca Torrence, iPads, hadn't, he'd, Lea Suzuki, CarePod, CarePods Organizations: Google, Business, Forward, Apple, San Francisco, Getty, BI Locations: Roseville , California, Roseville, Chicago, New York City, Forward's San Francisco, Forward's Washington, DC, Washington ,, San Francisco, Washington, Dallas, Bellevue , Washington, Sacramento, Chandler , Arizona, Chicago's Willis, Galleria, there's

☆ Elon Musk may already be overstaying his welcome in Trump’s orbit
▼ + stars: | 2024-11-13 | by ( Dasha Burns | David Ingram | ) www.cnbc.com time to read: +6 min

In a statement, Trump-Vance transition spokeswoman Karoline Leavitt said, "Elon Musk and President Trump are great friends and brilliant leaders working together to Make America Great Again. Elon Musk is a once in a generation business leader and our federal bureaucracy will certainly benefit from his ideas and efficiency." An adviser to Trump said that Elon Musk would join Trump in a meeting Wednesday with Republican lawmakers ahead of leadership elections. In posts on X in the past week, Musk has pushed various policy ideas including deporting immigrants and slashing government spending. On Sunday, one of Trump's grandchildren, Kai Trump, posted a photo on X of herself with Musk, writing that Musk was "achieving uncle status."

Persons: Elon Musk, Donald Trump, Vivek Ramaswamy, Musk, who've, they're, he's, Trump, Vance, Karoline Leavitt, Volodymyr Zelenskyy, Elon, pester Trump, Elon doesn't, Cantor Fitzgerald, Howard Lutnick, Kai Trump Organizations: Trump, Tech, SpaceX, Department of Government, America PAC, Mar, Ukrainian, Republican, PAC, West Palm Beach Locations: Butler , Pennsylvania, U.S, Beach , Florida, Pennsylvania, West Palm Beach, Mar, West Palm, Austin , Texas

☆ Annual inflation rate hit 2.6% in October, meeting expectations
▼ + stars: | 2024-11-13 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

The core CPI accelerated 0.3% for the month and was at 3.3% annually, also meeting forecasts. The consumer price index , which measures costs across a spectrum of goods and services, increased 0.2% for the month. That took the 12-month inflation rate to 2.6%, up 0.2 percentage point from September. Inflation perked up in October though pretty much in line with Wall Street expectations, the Bureau of Labor Statistics reported Wednesday. Energy costs, which had been declining in recent months, were flat in October while the food index increased 0.2%.

Persons: Dow Jones, Trump, Ellen Zentner Organizations: Dow, of Labor Statistics, Stock, Federal Reserve, Energy, BLS, White, CPI, Morgan Stanley Wealth Management

Traders work on the floor at the New York Stock Exchange (NYSE), after Republican Donald Trump won the U.S. presidential election, in New York City, U.S., November 6, 2024. U.S. stocks slid on Thursday, as fresh comments from Federal Reserve Chair Jerome Powell signaled that economic strength could warrant some patience with future rate cuts. The Dow Jones Industrial Average slipped 189 points, or 0.4%, after falling more than 250 points at the lows of the session. "The strength we are currently seeing in the economy gives us the ability to approach our decisions carefully," Powell said. Those moves come after the October producer price index released Thursday rose 0.2%, matching forecasts from economists polled by Dow Jones.

Persons: Republican Donald Trump, Jerome Powell, Stocks, Powell, Tesla, Dow Jones, Donald Trump's, Jay Woods Organizations: New York Stock Exchange, Republican, U.S, Federal, Dow Jones, Nasdaq, Trump, Russell, PPI, Dow, Freedom Capital Locations: New York City, U.S, Dallas

☆ Every kind of F-35 has now seen combat after a carrier-based stealth fighter struck the Houthis
▼ + stars: | 2024-11-13 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

AdvertisementThe Pentagon said F-35C stealth aircraft took part in strikes against the Houthis last weekend. The aircraft carrier-based variant of the F-35 stealth fighter made its combat debut during recent American military airstrikes against the Iran-backed Houthi rebels, a US defense official confirmed to Business Insider on Wednesday. AdvertisementA US defense official said that mission was the first operational combat flight by the F-35C, meaning all three variants of the aircraft have now seen combat. The F-35 Lightning II is a single-engine, multi-role strike stealth fighter jet made by American defense company Lockheed Martin. Aircraft from USS Abraham Lincoln (CVN 72) support operations against Iran-backed Houthis in the U.S. Central Command area of responsibility.

Persons: Abraham Lincoln, Lockheed Martin, 8Y4yqsAepd, Carl Vinson, Pat Ryder, Seaman Nathaly Cruz, Ryder Organizations: Pentagon, Business, Lockheed, The Air Force, Marine Corps, Navy, Aircraft, U.S . Central Command, Taliban, ISIS, Fighter Attack Squadron, EA, Pentagon Press, Air Force, Marine Fighter Attack Squadron, US Navy, Communication, Monday Locations: Iran, Yemen, American, U.S, Afghanistan, Iraq, Gulf of Aden, Mandab, Syria

As bitcoin shoots to new heights, some stocks that trade closely with the digital currency could also see their fortunes rise. Against that backdrop, CNBC Pro screened for stocks that have the highest positive correlation with bitcoin over the past 60 days, meaning they could rise in tandem. Fellow crypto miner Riot Platforms was also on the list with an 81% correlation to bitcoin. Lesser-known names that could see a boost on further bitcoin appreciation include crypto miners Bitdeer Technologies and Hut 8 . Bitdeer has a 67% correlation to the digital currency, while Hut 8's correlation coefficient is nearly 0.7.

Persons: Bitcoin, Donald Trump, Trump, bitcoin, Mark McLaughlin, Cryptocurrency, Mara Holdings, Cantor Fitzgerald, Mara, Brett Knoblauch, MARA, Bitdeer Organizations: cryptocurrencies, CNBC Pro, New York Stock Exchange, Nasdaq, Bank of America, Bitdeer Technologies

☆ You need to make $108,000 to afford a home in America
▼ + stars: | 2024-11-13 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

That’s nearly double the household income of $56,800 needed to afford a new home in 2019. Just 36% of US households earned enough to afford a new home, compared to 59% in Q3 2019. A shortage of homes in the US, combined with increased demand, helped create intense competition, leading to skyrocketing home prices in cities across America. A major contributor to the home affordability crisis: rising mortgage rates. Mortgage rates, which are the interest rates a lender charges on a home loan, ballooned in 2022 and 2023 as the Federal Reserve hiked interest rates to combat inflation.

Persons: That’s, Louis, ” Barbara Denham Organizations: CNN, Oxford Economics, Midwest, Oxford, Federal Reserve Locations: America, San Jose , California, California, San Francisco , Los Angeles, San Diego, Cleveland , Louisville, Detroit, St, Florida , Arizona, South Carolina

☆ Morgan Stanley fund manager picks 3 stocks to buy following Trump's win
▼ + stars: | 2024-11-13 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

Aaron Dunn, portfolio manager at Morgan Stanley's U.S. Value Fund , noted the "great deal of volatility" in markets following the election result, as markets reprice "what had been a 50/50 election." Speaking to CNBC's "Squawk Box Asia" on Tuesday, Dunn, who's also co-head of value equity at Morgan Stanley, identified three stocks he is betting on following the election result. It's a diversified play in this, [that] you're getting it for just above the market multiple, with a solid runway of growth," Dunn added. According to FactSet data, of 30 analysts covering the stock, 26 give it a buy or overweight rating. He added that the company should increase its long-term growth rate guidance, given the growth in AI data centers.

Persons: Donald Trump's, Aaron Dunn, Dunn, who's, Morgan Stanley, you've, —, Trump, They're Organizations: Morgan, Value, Biden Administration, Trump, U.S ., MAA, NextEra Energy Locations: Morgan Stanley's, U.S

☆ Morgan Stanley upgrades AI play on the insurance industry, sees 30% rally
▼ + stars: | 2024-11-13 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

It is time to consider scooping up shares of a little-known software play, according to Morgan Stanley. CCC is a software as a service provider specializing in the property-casualty insurance sector and working with insurers and collision repairers. CCCS YTD mountain Shares this year "CCCS is a market share leader, positioned to capture value digitizing and automating the [property and casualty] Insurance industry," Baer wrote. "Established solutions, ramping emerging solutions and AI help to sustain high-single-digit growth." CCC's shares have also underperformed those of its vertical software peers, offering an attractive valuation discount and entry point relative to competitors, the analyst noted.

Persons: Morgan Stanley, Josh Baer, Baer Organizations: CCC, Services, Insurance

☆ Oil could plunge to $40 in 2025 if OPEC unwinds voluntary production cuts, analysts say
▼ + stars: | 2024-11-13 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +3 min

A decline to $40 a barrel would mean around a 40% erasure of current crude prices. Martoccia Francesco Energy strategist at CitiThe oil cartel has been exercising discipline in maintaining its voluntary output cuts, to the point of extending them. In September, OPEC+ postponed plans to begin gradually rolling back on the 2.2 million barrels per day of voluntary cuts by two months in an effort to stem the slide of oil prices. Oil prices have been weighed by a sluggish post-Covid recovery in demand from China, the world's second-largest economy and leading crude oil importer. In its monthly report released Tuesday, OPEC lowered its 2025 global oil demand growth forecast from 1.6 million barrels per day to 1.5 million barrels per day.

Persons: Anthony Prieto, Tom Kloza, They've, Kloza, Henning Gloystein, Saul Kavonic, Francesco Organizations: Bloomberg, Getty, OPEC, Brent, U.S, West Texas, Eurasia Group, CNBC, Francesco Energy, Citi Locations: Midland , Texas, OPEC, China, U.S, Canada, Guyana, Brazil

☆ Why Builders Are Renting Out New Houses Instead of Cutting Home Prices
▼ + stars: | 2024-11-13 | by ( James Rodriguez | ) www.businessinsider.com time to read: +11 min

Builders, meanwhile, are luring buyers with some perks but are barely budging on prices. That's partly because these companies have another place to turn: the rental market. Opportunistic investors — mostly small and midsize players, who own the vast majority of single-family rentals in the country — are happy to oblige. Builders have also started developing entire communities of single-family homes to be rented out rather than sold, a strategy known as build-for-rent. Their embrace of the rental market says more about the obstacles for buyers than for builders.

Persons: homebuilders, John Burns, Keith Hughes, —, Horton, Don Mullen, they've, Adam Stern, Sean Morgan, Alex Offutt, Ray Sturm, Sturm, Selma Hepp, It's Organizations: John Burns Research, Consulting, Builders, John, Houston, Owners, SFR, Sun, Dallas, Local, Business Purpose, Offutt Locations: Tampa , Florida, Carolinas, Nashville, Horton

☆ A big-cap tech has been surprisingly lagging the software stock breakout. That may be about to change
▼ + stars: | 2024-11-13 | by ( Frank Cappelleri | ) www.cnbc.com time to read: +4 min

The iShares Expanded Tech-Software Sector ETF (IGV) has been getting a lot of attention, and rightly so. Things have recently accelerated in November, and Tuesday, the IGV Software ETF was one of just three ETFs we track to make new all-time highs. Within the IGV Software ETF, it also has the third biggest weighting, but it's behind both CRM and ORCL. More importantly, MSFT has been noticeably lagging the IGV ETF across various time frames. The potential good news is that: 1. the ratio line remains in a long-term uptrend and 2. the last two oversold conditions happened near major relative trading lows.

Persons: IGV, MSFT, it's Organizations: Software Sector, Technology Trust, IGV Software, Microsoft, NASDAQ, Software, CNBC, NBC UNIVERSAL Locations: MSFT

☆ Inflation hit a bump in October after slowing for six straight months
▼ + stars: | 2024-11-13 | by ( Alicia Wallace | ) edition.cnn.com time to read: +4 min

Housing-related inflation accounted for half of the monthly rise, and energy prices were flat after dragging down the overall index for four of the past six months. The Consumer Price Index measures price changes across commonly purchased goods and services. Still, October’s increase was to be expected, due to unfavorable comparisons from a year ago and stubborn housing-related inflation. Consensus estimates were for a 0.2% monthly increase and a 2.6% annual increase in the overall CPI, according to FactSet. A potential ‘inflation shock’ in the wingsAlthough the broader US economy survived the sharpest inflation run-up seen in a generation, Americans’ finances — and their sentiment — were far from unscathed.

Persons: “, ” Stephen Juneau, Donald Trump, Larry Summers, Kate Bolduan, Trump’s, Lindsay Rosner, Jerome Powell Organizations: CNN, Bureau of Labor Statistics ., Bank of America, BLS, —, Trump, Biden, CNN News Central, Federal Reserve, Goldman Sachs Asset Management Locations: Ukraine

☆ Here are Wednesday's biggest analyst calls: Apple, Micron, Tesla, Instacart, Spotify, Netflix, Cava, Target and more
▼ + stars: | 2024-11-13 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Evercore ISI downgrades Caterpillar to in line from outperform The firm said it sees earnings per share risk for Caterpillar. Barclays reiterates Instacart as overweight The firm said it is sticking with its overweight rating following earnings. " Telsey reiterates Target as outperform Telsey says it is sticking with its outperform rating on Target ahead of earnings next week. Jefferies reiterates Netflix as buy The firm said the latest report of monthly active users for Netflix weakens the bear case. " TD Cowen reiterates Cava as buy The firm said Cava had a "flawless" third quarter.

Persons: Oppenheimer, William M, Brown, reallocating, Wells, Morgan Stanley, Telsey, Salesforce, verticals, Jefferies, Piper Sandler, Wedbush, Tesla, Donald Trump, Elon Musk, TD Cowen, Cava Organizations: Caterpillar, CAT, UBS, DTC, Bank United, Bank, Solutions Holdings, C Insurance, Barclays, CART, Starbucks, Bank of America, Netflix, MAUs, Micron, Apple, ISI, Services, Department of Government, White, Trump Locations: 3Q24, FCF

☆ Analysis: A Trump bitcoin promise is what crypto fans once fought against. They love it anyway
▼ + stars: | 2024-11-13 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —The crypto industry, an institution founded on the principle of getting the government’s greedy hands off the people’s currency, is booming. They may have finally convinced the government to get its hands on bitcoin. And second: He would create a national bitcoin reserve by preventing the government from selling the assets it has seized in criminal cases. I asked several experts this week about that apparent inconsistency in the crypto ethos. “This, by itself, represents an enormous symbolic win for the crypto industry that two years ago was being spoken of as dead in the water.”

Persons: CNN Business ’, Donald Trump, Faryar Shirzad, “, we’ve, ” Trump, ”, Sam Bankman, Trump, Gary Gensler, can’t, Gensler, Robert F, Kennedy Jr, Fort Knox ”, Sam, shouldn’t, Molly White, ’, Zeke Faux, ” Yesha Yadav Organizations: CNN Business, New York CNN, Securities and Exchange Commission, SEC, Vanderbilt University Locations: New York, Fort

☆ Everything is under $20 at Amazon’s newest store
▼ + stars: | 2024-11-13 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Amazon is targeting retail rivals Shein, Temu and TikTok Shop with a new deeply discounted storefront that sells a wide array of products for $20 or less. Called “Amazon Haul,” the mobile-only experience debuted Wednesday in the Amazon app and has everything from fashion accessories to home goods, plus clothes and electronics. Amazon said in an announcement that a “majority” of the Haul items are under $10, with some even less than $1. However, the cheap prices come with a caveat that items can take one to two weeks to be delivered. Also, the store only accepts returns on items that are $3 or more.

Persons: Neil Saunders, ”, ” Saunders, it’s Organizations: New, New York CNN, Shein, CNN, Amazon, Consumer Product Safety Locations: New York, United States, GlobalData

☆ Trump’s tariff threats send U.S. companies scrambling for lobbyists and loopholes
▼ + stars: | 2024-11-12 | by ( Rebecca Picciotto | Lora Kolodny | ) www.nbcnews.com time to read: +4 min

“Absolutely everyone is calling,” Collinson told CNBC. “Firms are prepared,” SUNY Buffalo finance professor Veljko Fotak, one of the authors of the 2021 study, told CNBC. “The American people re-elected President Trump by a resounding margin giving him a mandate to implement the promises he made on the campaign trail. On Thursday, Steve Madden pledged to reduce its Chinese imports by 45% over the next year in anticipation of Trump’s tariff plans. There’s got to be some way to help companies like that,” Sorini of Sorini, Samet & Associates told CNBC.

Persons: Donald Trump, Nicole Bivens Collinson’s, Collinson, Sandler, Travis, Rosenberg, ” Collinson, Trump, ” David French, “, ” Ron Sorini, ” Sorini, Veljko Fotak, ” Tiffany Smith, Karoline Leavitt, ” Leavitt, Steve Madden, There’s, ” Organizations: CNBC, Wall Street, National Retail Federation, Samet, Associates, Republican Party, White, SUNY Buffalo, National Foreign Trade Council, Trump Locations: China, America

☆ Waymo opens robotaxis to anyone in Los Angeles, marking its largest expansion yet
▼ + stars: | 2024-11-12 | by ( Jennifer Elias | Jennifer Covers Google Parent Company Alphabet Inc. | Silicon Valley Culture For Cnbc.Com In San Francisco. | ) www.nbcnews.com time to read: +2 min

Alphabet-owned Waymo is removing the waitlist for its self-driving service in Los Angeles, marking its largest expansion yet. With more than 3.8 million people, LA marks the third and largest city where the company’s robotaxi service is now fully available. “Now is an exciting time to welcome everyone in Los Angeles along for the ride,” Tekedra Mawakana, co-CEO of Waymo, said in a news release Tuesday. Waymo closed a $5.6 billion funding round in October to expand its robotaxi service across the U.S. Waymo in September announced that it partnered with Uber to launch its robotaxi service in Austin, Texas, in 2025.

Persons: Tekedra Mawakana, ”, Waymo, Andreessen Horowitz, Perry, Rowe Price, That’s, Uber, ” Waymo Organizations: U.S, Google, Fidelity, Tiger Global, Hyundai Locations: Los Angeles, LA, Los Angeles County, San Francisco, Phoenix, Waymo, Silver, Austin , Texas, Korean

☆ Singles’ Day shopping festival loses its shine under China’s lagging economy
▼ + stars: | 2024-11-12 | by ( Associated Press | ) www.nbcnews.com time to read: +4 min

HONG KONG — Businesses and consumers in China found the annual Singles’ Day shopping festival less attractive this year due to a sluggish economy, forcing e-commerce firms to look abroad for growth. While Singles’ Day was previously a one-day event, shopping platforms in China now kickstart the festival weeks ahead to drum up sales volume. But amid China’s lagging domestic economy, dragged down by a real estate crisis and deflationary pressures, consumers no longer go all out during the shopping extravaganza. Wang said that the prices offered on e-commerce platforms during Singles’ Day are not necessarily cheaper than usual. “I used to buy a lot two or three years ago and I even purchased a mobile phone (during Singles’ Day),” he said.

Persons: Alibaba, ”, —, “, Wang Haihua, Wang, we’ve, Zhang Jiewei, ” Zhang, Shaun Rein, ” Rein, Gucci, Jacob Cooke, ” Cooke Organizations: HONG KONG —, China Market Research Group Locations: HONG KONG, China, Singapore, Hong Kong, Beijing, Xi’an, Shanghai, “

☆ Elon Musk wants to radically reshape who controls America’s money supply
▼ + stars: | 2024-11-12 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +5 min

“The Federal Reserve is one of many examples of how we’ve deviated from the Constitution in that regard,” Lee added. Challenging the Fed’s independence“The American people re-elected President Trump by a resounding margin giving him a mandate to implement the promises he made on the campaign trail. That’s empowered Fed officials to make interest rate decisions that aren’t necessarily popular but could help the nation’s economy in the long run. But on the campaign trail, Trump floated requiring Fed officials to consult with him on interest rate decisions. That could lead to pressure on Fed officials to keep rates lower to satisfy Trump’s wishes, which in turn could reignite inflation.

Persons: Donald Trump’s, it’ll, Elon Musk, Republican Sen, Mike Lee, ” Lee, Jerome Powell, Trump, ”, Vance, Karoline Leavitt, Ron Paul, Thomas Massie of, Lee, ” Leavitt, it’s, That’s, Powell, “, briskly, hasn’t Organizations: New, New York CNN, Federal Reserve, Trump, Republican, Fed, Federal, CNN, Treasury Department, National Association of Black Journalists, Republicans, Consumer Financial, Product Safety, Fed’s, of Governors, Consumer, Safety Locations: New York, Thomas Massie of Kentucky

☆ The Federal Reserve is trimming rates, and these higher-yielding assets could be called back soon
▼ + stars: | 2024-11-12 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +5 min

The Federal Reserve last week dialed back interest rates by a quarter point, bringing its target rate range down to between 4.5% and 4.75%. Give and take In addition to buying CDs directly from a bank, investors can also shop for brokered CDs through their brokerage. Indeed, a client holding a 12-month brokered CD with an APY of 4.65% had their instrument called with six more months to go, he said. The Federal Deposit Insurance Corp. backs bank CDs and savings accounts up to $250,000 per depositor and per ownership category. "The time with the brokered CDs has probably come to an end," he said.

Persons: Banks, Marcus, Goldman Sachs, Malcolm Ethridge, There's, noncallable, Ethridge, They're, Dinon Hughes Organizations: Federal Reserve, Capital Area, Vanguard, Nvest, Capital, Federal Deposit Insurance Corp, Treasury, ., Bond, SEC Locations: BTIG, Washington ,, Portsmouth , New Hampshire, Kennebunk , Maine

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