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☆ CNBC Daily Open: September’s shockingly good jobs report changes everything
▼ + stars: | 2024-10-07 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Angus Mordant | Bloomberg | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. What you need to know todayThe bottom lineOh, to be a fly on the wall when the U.S. Labor Department arrived at the final tally for September's jobs number. That's perhaps why stocks rose only tentatively on its release. For the week, S&P rose 0.22%, the Dow ticked up 0.09% and the Nasdaq increased 0.1% — a huge jump, considering it was down more than 1% at Thursday's close.

Persons: Angus Mordant, payrolls, David Royal, –, Jeff Cox, Alex Harring, Lisa Kailai Han Organizations: HK UBI, Bloomberg, Getty, CNBC, U.S . Labor Department, Dow Jones, Nasdaq, Dow, Labor Locations: Albany, Latham , New York, —, Thursday's

☆ Mike Johnson won't commit to bringing House back before the election for more hurricane relief
▼ + stars: | 2024-10-07 | by ( Summer Concepcion | ) www.cnbc.com time to read: +4 min

House Speaker Mike Johnson on Sunday did not commit to calling Congress back into session before the election after President Joe Biden pressed congressional leaders about potential funding shortfalls in the aftermath of Hurricane Helene. The president noted that the White House requested more funding for the program as Congress prepared a short-term funding bill that passed last month to avert a government shutdown. Pressed on whether he would call Congress back into session before the election, Johnson replied, "We'll be back in session immediately after the election." Johnson's comments come after Biden said in remarks at the White House last week he expects to ask Congress for a supplemental funding request for areas affected by Hurricane Helene. "The American people are disgusted by this, up with it, and so are Republicans in Congress," he said.

Persons: Mike Johnson, Joe Biden, Hurricane Helene, Johnson, Alejandro Mayorkas, we'll, Biden, Karine Jean, Pierre, Kamala Harris, Mayorkas Organizations: Fox, Homeland, White House, Congress, Hurricane, Federal Emergency Management Agency, shouldn't, White, Biden, FEMA, Republicans Locations: Hurricane, Florida

☆ Goldman lowers recession odds to just 15%
▼ + stars: | 2024-10-07 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

The bank's economists over the weekend lowered their recession probability to just 15%, which chief economist Jan Hatzius classified as the "unconditional long-term average." September's smashing nonfarm payrolls surge of 254,000 and a downward move in the unemployment rate served as a catalyst for the firm to nearly abandon the chance of a contraction. Prior to the report, traders had been betting that the Fed might repeat its 50 basis point — half percentage point — interest rate cut from September before the end of the year. But expectations have swung now, and Goldman concurs with market pricing that the "next few meetings" will see 25 basis point moves. That's about 1.5 percentage points lower than the current level and 2 full percentage points below the pre-September cut.

Persons: Goldman Sachs, Jan Hatzius, Hatzius, Goldman, Lisa Shallett, Morgan Stanley, Shallett Organizations: Labor Department, Federal Reserve Locations: U.S

☆ Pete Buttigieg says 'the best thing to do is just to pick up the phone' to talk out a workplace issue. Experts agree — with some exceptions.
▼ + stars: | 2024-10-07 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +6 min

Experts say phone calls can resolve conflicts better than digital communication. AdvertisementPicking up the phone really is the best way to figure things out when issues arise with colleagues, experts say. "And, I think, to me, it's an example of how often the best thing to do is just to pick up the phone." Phone calls, in comparison, allow for real-time, personal discussions "where tone and emotion are conveyed much more clearly," McLean said. But phone calls, in general, also help build better relationships in the long run, Sundaram said.

Persons: Pete Buttigieg, Elon, Hurricane Helene, —, Helene, Buttigieg, Khyati Sundaram, Sundaram, Victoria McLean, McLean, David Rice, Musk, Rice, isn't, Sophie O'Brien, O'Brien, they've, Emily Maguire, Tara Arutunian Organizations: Hurricane, Service, MSNBC, Wall Locations: Asheville , North Carolina, New York

☆ Reese Witherspoon says her 'aha moment' in business came after realizing she needed help
▼ + stars: | 2024-10-07 | by ( Erin Liam | ) www.businessinsider.com time to read: +5 min

Reese Witherspoon said she initially struggled to run her media company, "Hello Sunshine." AdvertisementReese Witherspoon opened up about the struggles she faced while starting her media company, Hello Sunshine. She'd go home, and I'd be like, 'My business partner's an idiot.' In 2021, Jonathan Alpert, a psychotherapist and performance coach, told BI that business partners should understand their business partners' communication styles and know how they like to resolve conflict. A representative for Witherspoon did not immediately respond to a request for comment from BI sent outside regular business hours.

Persons: Reese Witherspoon, Sarah Harden, Witherspoon, Harden, —, Strand, Seth Rodsky, I'm, That's, you've, Jonathan Alpert, Alpert, Barbara Corcoran, Esther Kaplan, Corcoran, Kaplan Organizations: Service, Strand Equity's, Hollywood, aha, Corcoran Group, Sunshine, Candle Media, Blackstone, BI Locations: Los Angeles

☆ Tensions rise between banks and tech companies over online fraud liability in the UK
▼ + stars: | 2024-10-07 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

Meta is facing calls from U.K. banks and payment firms like Revolut to financially compensate people who fall for scams on their services. Proposals to make tech firms liableTensions have been running high between banks and tech companies for some time. A key ask has been for the tech firms to share more detailed intelligence on how criminals are abusing their platforms. Social media firms not doing enough to combat and remove attempts to defraud internet users was another complaint from regulatory authorities at the event. Jones added that it was tough to "break the inertia" at tech companies to "really get them to get after it."

Persons: Jaap Arriens, it's, Meta, Woody Malouf, Matt Akroyd, Kate Fitzgerald, Rob Jones, Jones Organizations: Nurphoto, Getty, Systems, PSR, Payments Association, Facebook, NatWest, Metro Bank, Financial Times, Labour Party, CNBC, Stewarts, Social, Economic Crime, U.K, National Crime Agency, Tech, Meta, Intelligence Locations: London

☆ Bad call from Wall Street analysts on DuPont stock may be good news for investors
▼ + stars: | 2024-10-07 | by ( Morgan Chittum | ) www.cnbc.com time to read: +4 min

Wall Street analysts made the wrong call on DuPont, but it may be welcome news for investors looking to buy the stock. DuPont stock, trading around $85 per share Monday, would have to fall at least another 6% to below $80 to interest us. "This stock could have a very good run into 2025 as it becomes clear that the three segments are worth far more than the current price," Jim said. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Jim, Jeff Marks, Jeff, Jim Cramer's, Dupont Organizations: DuPont, Monday, Barclays, Club, CNBC, Getty Locations: Wilmington , Delaware

Driverless cars are speeding onto America's streets, but whether the public will trust robotaxis remains an open question. Nearly two-thirds of Americans said they would not want to ride in a driverless passenger vehicle if they had the opportunity, according to a Pew Research Center Survey. Tesla's upcoming robotaxi launch threatens to throw the whole autonomous vehicle space off course. Alphabet -owned Waymo is the leader in the space, with the company claiming it has notched more than 22 million driverless miles. Uber has hedged its bets by inking high-profile deals with autonomous vehicle companies, but it's unclear how long those partnerships will last.

Persons: robotaxis, Tesla, Elon Musk, Waymo, Cruise Organizations: Pew Research Center Survey, GM Locations: San Francisco , Los Angeles, Phoenix

View at Amazon What we like Check mark icon A check mark. Multi-day battery lifeCheck mark icon A check mark. Durable, rugged designCheck mark icon A check mark. View at Amazon What we like Check mark icon A check mark. View at Amazon What we like Check mark icon A check mark.

Persons: Apple, Max Organizations: Business, Prime, Deal, Apple, Amazon, Apple Watch

☆ Trump has thoughts on how to make Gaza 'the most beautiful place'
▼ + stars: | 2024-10-07 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +4 min

Donald Trump said Gaza could be rebuilt into one of the most beautiful places in the world. I mean, they have the back of a plant facing the ocean, you know," Trump told conservative radio host Hugh Hewitt on Monday. You know, as a developer, it could be the most beautiful place – the weather, the water, the whole thing, the climate." Trump was addressing the future of Gaza on the first anniversary of the October 7 terrorist attacks, where Hamas militants killed roughly 1,200 people in Israel. "Gaza's waterfront property, it could be very valuable, if people would focus on building up livelihoods," Kushner told a Harvard-affiliated program in February.

Persons: Donald Trump, Trump's, Jared Kushner, —, I've, what's, Trump, Hugh Hewitt, Hewitt, Israel, isn't, Kushner, Joe Biden, Benjamin Netanyahu, Gazans Organizations: Service, White, Harvard, New York Times, UN, Bloomberg, Marshall Plan Locations: Gaza, Israel, Monaco, Lebanon, Iranian, London, Europe

☆ Sovereign AI explained: An AI cloud CEO unpacks what's behind the trend
▼ + stars: | 2024-10-07 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +7 min

The company started buying Nvidia GPUs in 2021, getting to the AI cloud computing business earlier than most. CEO J.J. Kardwell describes the company as the largest privately-held cloud computing platform in the world. It also makes the Vultr boss well-positioned to explain a phrase frequently on the lips of AI luminaries like Nvidia CEO Jensen Huang: sovereign AI. Sovereign cloud is the delivery of cloud infrastructure as a service, typically inside a country. BI: AI computing is extremely energy intensive, and concerns about the US grid abound.

Persons: —, it's, J.J, Kardwell, Jensen Huang, we'll Organizations: Vultr, Service, Nvidia, Singtel, Department of Defense Locations: Singapore, Malaysia

Wall Street's top performers are hard workers who tend to work long, intense hours. Business Insider asked its 2024 class of Wall Street stars about how they stay mentally sharp. Here's what we learned about the hacks, habits, and routines that help top talent on Wall Street stay on their game. The routine helps him stay present with his home life as well as work, he added. But I think those two things help me to at least stay recharged and stay ready each day," he said.

Persons: —, Mark Zhu, Craig Kolwicz, Goldman Sachs, Corey White, Nina Gnedin, Blake Cecil, Chi Chen, Robert Sapolsky, Justin Elliott, Read, Palmer Osteen, KKR's, I've, That's, Daniela Cardona, America's White, Ben Carper, it's, there's, Matthew Eid, Holm, Reinhard Dirscherl, Melissa Ding, Wells, Annie Cheslin, she's, Margaret Williams, Morgan Stanley, Williams, Apollo's Austin Anton, Erica Wilson's, deadlifted, Harrison DiGia, Patrick Lenihan, barre, Elizabeth Stone Redding, Stone Redding, Matt Gilbert, Thoma, Gilbert, I'm, Dan, Feroz Khosla, isn't Organizations: Business, Service, Blackstone, Finance, Goldman, of America, Man Group, Productivity, Bridgewater Associates, Bank of America, Fidelity Investments, RBC, Bank, America's, Jefferies, Capital Advisory, Ares Management, Getty, BlackRock, Blue, General Atlantic, JPMorgan Asset Management, TPG, Thoma Bravo, Citadel Securities Locations: Blackstone, Chicago, San Francisco, Coast, Boston, Silicon Valley, New York, I'm, Maldives, he's, Thailand, Central Park

☆ Wall Street is getting tired of Corona brewer Constellation, but Jim Cramer says to hold on
▼ + stars: | 2024-10-07 | by ( Paulina Likos | ) www.cnbc.com time to read: +6 min

Jim Cramer is planning to stay in the game with Constellation Brands , despite a Wall Street firm moving to the sidelines on the Mexican beer importer. Shares of New York-based Constellation Brands fell 1.5% Monday, off their lows of the session. In the June-to-August period reported Thursday, beer sales rose 6%, compared with increases of 8%, 11% and 11.8% in its three prior quarters. In explaining why we're sticking with Constellation, Jim said Monday he liked what he heard from Constellation Brands CEO Bill Newlands during the executive's appearance Friday on "Mad Money." This uptick coincided with increased marketing spending behind its top beer brands, Newlands said.

Persons: Jim Cramer, Jim, there's, Bill Newlands, Newlands, —, Kim Crawford, Meiomi, Duckhorn, Morgan Stanley, Jim Cramer's, Justin Sullivan Organizations: Constellation Brands, Bank of America, Modelo, Corona, Constellation, CNBC Locations: York, Mexico, Corona, San Anselmo , California

☆ What it's like to launch a startup with friends, according to 3 Gen Z cofounders who created a childcare startup together
▼ + stars: | 2024-10-07 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +6 min

"Sasha was basically our mom's third son," Daniel Andrews told Business Insider. Around 60% of Gen Z founders who were surveyed had involved their friends in the business, compared to 42% of millennials and 21% of Gen X and boomers. Advertisement"We're each other's biggest fans, but we're also each other's biggest critics," Daniel Andrews said. "Being a first-time founder, it is incredibly beneficial to work with friends and family who can step up and take on that work. "If you have friends that you find that are like slowing you down, or like trying to distract you, or other things, those might not be the best friends to launch a startup with," Daniel Andrews said.

Persons: Sasha Reiss, Andrews, Zs, —, Daniel, Josh Andrews, Sasha, Daniel Andrews, Reiss, Japan —, Gen, X, we're, We've, I've, it's, we've Organizations: Service, Business Locations: Mexico, Brazil, Korea, Japan

☆ 4 reasons why China's blistering stock rally has another 20% to run, Goldman says
▼ + stars: | 2024-10-07 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

China's stock rally could extend another 15% to 20%, Goldman Sachs says. Goldman highlighted out still-low valuations and diminishing risk as tailwinds for a continued rally. AdvertisementThe blowout surge in China's stock market still has ways to go, with another 15% to 20% upside ahead, Goldman Sachs predicts. Third, earnings growth could pick up if the economy responds well to China's latest support measures. Goldman is optimistic in this outcome, estimating that the central bank's policy easing could uplift China's GDP by 40 basis points.

Persons: Goldman Sachs, Goldman, —, It's Organizations: Beijing, Service Locations: China, Beijing

☆ Fed cuts could turn the tide for commercial real estate. Where to find opportunity
▼ + stars: | 2024-10-07 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Federal Reserve interest rate cuts may help turn the tide for commercial real estate. "Lower interest rates are not a magic bullet, but less restrictive monetary policy lays the groundwork for a commercial real estate recovery," wrote senior economist Charlie Dougherty. "Decreased long-term interest rates appear to be easing upward pressure on cap rates and slowing declines in property valuations. "That said, reduced interest rates should prevent distress from spreading and shorten the hurdles coming down the road," he added. Gimple specifically likes single-asset, single-borrower CMBS and commercial real estate collateralized loan obligations.

Persons: Wells Fargo, Charlie Dougherty, Dougherty, Douglas Gimple, Gimple, It's, that's Organizations: Treasury, Companies, Fed Locations: Central, Diamond, Los Angeles, New York, Miami, Hawaii

☆ Meet Jeff Smith, the hedge-fund investor taking on Pfizer
▼ + stars: | 2024-10-07 | by ( Alex Morrell | ) www.businessinsider.com time to read: +7 min

Starboard Value has taken a $1 billion stake in drugmaker Pfizer. The hedge fund, headed by Jeff Smith, has become one of the most feared activist investors. AdvertisementPharmaceuticals giant Pfizer got a wake up call Sunday evening when one of Wall Street's most feared activist investors revealed a stake in the company. AdvertisementPfizer, with a market cap north of $160 billion, is among the largest companies Starboard's Smith has ever targeted. With less than a 10% stake Smith replaced the entire 12-person board and assumed the role of chairman.

Persons: Jeff Smith, —, Smith, Starboard's Smith, Ian Read, Frank D'Amelio, Ken Squire, Paul Singer, Elliott, Carl Icahn, Dan Loeb, Peter Feld, Olive Garden's, Marc Benioff, Brontë Wittpenn, Brontë, Squire, they're, Albert Bourla, Bourla, wagered Organizations: Pfizer, Service, Pharmaceuticals, 13D, Investor, Lazard, Elliott Management, Icahn Enterprises, Cowen Group, AOL, Darden Restaurants, Olive Garden, Longhorn, Darden, Wall, San Francisco, Getty, Smithfield Foods, Bristol, Myers Squibb, Celgene, Autodesk, Starbucks Locations: Olive Garden, Fortune, America, Olive, Washington

☆ Both Democrats and Republicans in North Carolina say misinformation is complicating Hurricane Helene relief efforts
▼ + stars: | 2024-10-07 | by ( Katie Balevic | ) www.businessinsider.com time to read: +6 min

Officials are urging people to stop spreading misinformation amid Hurricane Helene recovery efforts. Both Republicans and Democrats have called out misinformation and false rumors. Donald Trump and Elon Musk have amplified false claims. AdvertisementAs rescue workers respond to the destruction in North Carolina after Hurricane Helene, government officials on both sides of the aisle are calling for a misinformation cease-fire. Republicans have also joined the fight against the false information.

Persons: Helene, Donald Trump, Elon Musk, —, Hurricane Helene, Joe Biden, Musk, Pete Buttigieg, Buttigieg, Trump, Biden, Kamala Harris, Alejandro Mayorkas, Roy Cooper, Kevin Corbin, Corbin, Chris Carlson, Sen, Thom Tillis, Margaret Brennan, Tillis, I've, Panditharatne, that's, X Organizations: Republicans, Democrats, Elon, Service, Carolinas, Federal Emergency Management Agency, FEMA, Brennan Center for Justice, New York University's School of Law, Transportation, Federal Aviation Administration, Washington Post, of Homeland, Post, Department of Public Safety, Democratic Gov, Republican, North Carolina Senate, Facebook, AP, CBS Locations: North Carolina, Hurricane, Florida, New, Asheville, North, Antarctica

☆ AI expert Gary Marcus thinks OpenAI will be the 'most Orwellian company of all time'
▼ + stars: | 2024-10-07 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

AI expert Gary Marcus says OpenAI may be forced to become a surveillance company to make money. AI expert Gary Marcus says the company shaping the global AI arms race is on the cusp of turning what Orwell imagined into reality. "What they're going to be pressed to do is become a surveillance company." But Marcus thinks the company won't be able to earn enough money to support its valuation that way because the technology isn't advanced enough. Marcus suspects that OpenAI will eventually tap into this potential income stream and become a powerful surveillance company.

Persons: Gary Marcus, OpenAI, —, George Orwell's, Orwell, Peter Norvig, Marcus, Paul Nakasone, Edward Snowden, Snowden, Sam Altman, Altman, he's Organizations: Service, Google, Stanford's, Capitol, Business Locations: that's

☆ I'm a professional declutterer and think everyone should get rid of things before they move. Here's how to do it.
▼ + stars: | 2024-10-07 | by ( ) www.businessinsider.com time to read: +4 min

Ideally, you'd declutter before you start packing for a move. AdvertisementI'm a professional declutterer and often get asked by clients when they should start decluttering while planning a move. Put 2 boxes out — things you're moving and things you're donatingWhen packing small items, use two boxes: one for the stuff that's going with you and one for the things you'll drop off at the thrift store. If you're agonizing over whether to keep or toss an item, you're allowed to keep it and move on. Related storiesIf you're holding out for money, be realistic about how much you think you can earn by selling your things.

Persons: I'm, —, it's, you've, you'll, It's Organizations: Service, Salvation Army, Technology, Facebook, revel

☆ The Middle East is on high alert for October 7 anniversary attacks as Israel intensifies strikes on Gaza and Lebanon
▼ + stars: | 2024-10-07 | by ( Hannah Abraham | Joshua Nelken-Zitser | ) www.businessinsider.com time to read: +5 min

The Middle East is anticipating strikes on the anniversary of the October 7 terror attacks. Israeli offensives have targeted several Middle Eastern regions, including Gaza, Lebanon, and Syria. AdvertisementThe Middle East is on high alert for military strikes timed to coincide with the first anniversary of the October 7 terror attacks on Israel. AdvertisementThere are fears the conflict could escalate into a full-blown war in the Middle East. AdvertisementIn June, the IMF said that the long-term economic effects of conflict on real GDP per capita in the Middle East would be particularly severe.

Persons: —, Yuval Baron, Keith Siegel, Adm, Daniel Hagari, Israel, Khader Ali Tawil, Kfar Yuval, Georgios Petropoulos, Jake Oubina, Piper Sandler Organizations: Service, Gaza Health Ministry, Reuters, Military, UN Humanitarian Affairs, CNN, Hamas, Health Ministry, BBC, Bank of Israel, Fox Business Locations: Gaza, Lebanon, Syria, Haifa, Israel, Iran, Tiberias, Beirut, Kfar, suboffice, Rafah, Yemen

☆ Earnings season kicks off after a blowout jobs report upended investors' hopes of another interest-rate cut
▼ + stars: | 2024-10-07 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

Tech: Amazon's Prime Day kicks off tomorrow, and there are some deals on surprising items . Amazon's Prime Day kicks off tomorrow, and there are some deals on . Getty Images; Jenny Chang-RodriguezWe've already got one indication companies are in good shape: Friday's blockbuster jobs report . But another blowout report — 250,000 jobs added and at least 4% wage growth — could lead the Fed to reconsider its easing policy. In addition to the usual Prime Day gadgets, like TVs and Airpods, Amazon is dishing out deals on tents, pocket knives, and chainsaws.

Persons: —, Jenny Chang, Rodriguez, Matthew Fox, we'll, Rodriguez We've, there's, Philipp Carlsson, Chelsea Jia Feng, haven't, Donald Trump's, Tyler Le, John Tomac, that's, boomers, They're, Gen Xers, Gen Zers, Kamala Harris, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Grace Lett, Amanda Yen, Milan Sehmbi Organizations: Business, Service, . Tech, Amazon's, Pfizer, Wall Street, JPMorgan, Wells Fargo, Big Tech, Getty, Fed, Boston Consulting, Trump Media, Microsoft, BI, pharma, CBS, ASEAN Locations: Israel, fintech, Vientiane, Laos, New York, London, Chicago

☆ Many Americans would rather talk about politics than money. Not having those conversations can cost you
▼ + stars: | 2024-10-07 | by ( Lorie Konish | ) www.cnbc.com time to read: +7 min

Kamil Krzaczynski | AFP | Getty ImagesThere are few topics Americans would rather not talk about more than money. 'Missed opportunities' of not talking about moneyFor both couples and families, not having those crucial financial conversations can cost them, financial advisors say. Have talks 'before an emergency situation arises'On a positive note, some money conversations are happening more regularly, U.S. Bank's research found. Still, 45% of respondents say they are unaware of their parents' financial situation, U.S. Bank found. To work past financial standoffs, it helps for couples to create a more welcoming environment to engage their partners in money conversations, Cherry said.

Persons: Kamil Krzaczynski, Wells, Scott Ford, Preston Cherry, Cherry, it's, Ford, Winnie Sun, Douglas Boneparth, Boneparth, Ted Jenkin, It's, Jenkin, Couples, — Organizations: AFP, Getty, U.S . Bank, CNBC FA, Sun, Wealth Partners, CNBC FA Council, Bank, Finance Locations: Chicago , Illinois, Wells Fargo, Green Bay , Wisconsin, Irvine , California, New York City, U.S, Atlanta

☆ The Fed is done cutting rates this year as the 'phantom recession' is finally dead, market vet says
▼ + stars: | 2024-10-07 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

The Fed is done cutting interest rates for the rest of the year, according to Ed Yardeni. Fears of a recession have been almost completely eliminated, the market vet said in a note. The no-show Fed-triggered recession will remain a no-show, especially now that the Fed has started to lower the FFR even though it isn't warranted by the performance of the economy," Yardeni wrote. I think it broadens out from the Magnificent Seven to the S&P 493," Yardeni added, speaking to Bloomberg on Monday. "We're going to have another quarter where I think earnings will go to a record-high in the third quarter."

Persons: Ed Yardeni, Yardeni, —, landers, they're Organizations: Service, Reserve, Yardeni, Bureau of Labor Statistics, Services, Institution of Supply Management, Atlanta Fed, Fed, Bloomberg, Investor

☆ Elon Musk is ready to make his biggest pitch yet that Tesla is more than just a car company
▼ + stars: | 2024-10-07 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +7 min

Elon Musk has a big task this week: convincing investors that Tesla is more than just a car company. It may do so once again as Elon Musk prepares to use the studio lot to tell another story: that Tesla is more than just a car company. The long-awaited event — originally scheduled for August — is meant to give weight to the electric vehicle maker's pitch that it is a tech company first and a car company second. Meanwhile, in July, Wedbush analyst Dan Ives claimed the "Tesla AI story could be worth $1 trillion-plus and is the most undervalued AI name." Michael Macor/The San Francisco Chronicle via Getty ImagesHowever, what's critical to note is the timing for Tesla's robotaxi push.

Persons: Elon Musk, Tesla, Tesla's, —, Musk, Sam Altman, Andrej Karpathy, Dan Ives, Michael Macor, Caspar Rawles, Rawles, Donald Trump, Elon, Ross Gerber, Gerber, Uber, it's, Cruise, Paul Miller, Forrester Organizations: Service, Warner Bros, Elon, Robotaxi, EV, San Francisco, Getty, Elon Inc, Benchmark Mineral Intelligence, Twitter, Gerber Kawasaki Wealth, Investment Management, Baidu, GM Locations: Burbank, California, Tesla's, Palo Alto, Elonville, Chinese, China, Wuhan

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