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But after Wednesday's big 50 basis point cut, Lee says he sees uncertainty looming ahead of the election. AdvertisementProminent stock market bull Tom Lee has long called for a big rally after the Federal Reserve cuts interest rates. But after a big 50 basis point cut on Wednesday, Lee says he's feeling cautious ahead of the November election. That rally would happen regardless of a 25 or 50 basis point cut, he said, if the Fed suggested future cuts are likely. With election-related volatility ahead, Lee recommends investing in cyclical stocks in areas like industrials, financials, and small caps.
Persons: Tom Lee, Lee, , SoFi's Liz Young Thomas Organizations: Federal Reserve, Service, Fundstrat Global Advisors, CNBC, Fed, Business
Lebanon's leadership warned that the risk of further violence and escalation is extremely high following two days of attacks involving exploding communications devices across the country. The next 48 hours, ministers told CNBC Thursday, will be particularly dangerous. Hezbollah called the act an "Israeli aggression"; Israel, meanwhile, has not commented on the blasts. "This will be a really, very, very dangerous ... 48 hours that this country will witness to see how the reaction will be." Tens of thousands of people on both the Lebanese and Israeli sides of the border have been evacuated from their homes.
Persons: Mojtaba Amani, Amin Salam, CNBC's Dan Murphy Organizations: CNBC, Hezbollah, Palestinian, Hamas, Lebanese Locations: Iran, Lebanese, Israel, Lebanon, Gaza
Read previewDomantas Katelė, an official in Lithuania's Ministry of Social Security and Labour, is widely known as his country's "Gen Z" minister. AdvertisementThe World Happiness Report backs up his claim, ranking Lithuania as the happiest place in the world for those under 30 earlier this year. AdvertisementIt seems paradoxical: How can a country be great for young people while also being Europe's suicide capital? Užupis, a small district alongside the Vilnia River, is popular with Vilnius' young, bohemian crowd. AdvertisementDomantas Katelė is often referred to as the "Gen Z" minister.
Persons: , Z, it's, Joshua Nelken, Zers, Adriana Doroškevičiūtė, Richard Bogu, It's, Bogu, Antanas Grižas Organizations: Service, Lithuania's Ministry of Social Security, Labour, Business, Union, Lithuania, European Union, Data, BI, Soviet Bloc Locations: Lithuania, Vilnius, Soviet Union, Europe, Old, Užupis, Soviet
The cultural shift has spawned a booming business in divorce photography not only for Tan, but also for other photographers hoping to profit. Photos shared on Chinese social media Xiaohongshu show some couples signing their divorce papers, while others pose with their divorce certificate. Happy divorce,” one user wrote alongside a photo of her marriage and divorce certificates side by side. “It is not shameful to be brave enough to divorce,” Tan said. Faces on old wedding photos are spray-painted, to ensure privacy is respected, before being tossed into a crusher along with other tokens of memories.
Persons: Tan, ” Tan, , Peng Xiujian, , Peng, it’s, Liu Wei, Liu, Justin Robertson, ” Liu, he’s, Gary Ng, “ I’ll, Organizations: Hong Kong CNN, China’s National Bureau of Statistics, Companies, Victoria University, CNN Locations: Beijing, Hong Kong, Henan, China, Australia
Ray Dalio said the 2024 U.S. elections will likely be the most important of his lifetime and he thinks the country needs a "strong leader of the middle." "As far as the election goes, it's going to be the most consequential election of my lifetime because we now have irreconcilable differences between the two sides," he said. "The first question we'll ask is: will we have an orderly transition of power? We have the question- the fact that it is possible — that election results may not be accepted — that's quite something." On Wednesday, Dalio had named the elections as a major force shaping the global economy, calling it an "issue of internal order and disorder."
Persons: Ray Dalio, Dalio Organizations: Bridgewater Associates, CNBC Locations: U.S
The 10 unhappiest states in the US, ranked
  + stars: | 2024-09-19 | by ( Mykenna Maniece | ) www.businessinsider.com   time to read: +1 min
The study compared the 50 states using categories like emotional and physical well-being. Louisiana was ranked the unhappiest state in the country. Go to newsletter preferences Thanks for signing up! AdvertisementWhile it's hard to articulate exactly what happiness means to everyone, one of WalletHub's most recent studies aimed to do just that: measure and compare the population's happiness across states. The personal-finance outlet compared the 50 states using three categories: emotional and physical well-being, work environment, and community and environment.
Persons: WalletHub, Organizations: Service, Business Locations: Louisiana
Trump says Fed's rate cut was 'political move'
  + stars: | 2024-09-19 | by ( ) www.cnbc.com   time to read: +1 min
Republican presidential nominee and former U.S. President Donald Trump holds a rally at Nassau Veterans Memorial Coliseum, in Uniondale, New York, U.S., September 18, 2024. Republican presidential candidate Donald Trump said on Thursday the U.S. Federal Reserve's decision to cut interest rates by half of a percentage point was "a political move." Most people thought it was going to be half of that number, which probably would have been the right thing to do," Trump said in an interview with Newsmax. The Federal Reserve on Wednesday kicked off what is expected to be a series of interest rate cuts with an unusually large half-percentage-point reduction. Trump said last month that U.S. presidents should have a say over decisions made by the Federal Reserve.
Persons: Donald Trump, Trump Organizations: Nassau Veterans Memorial Coliseum, Republican, U.S, U.S . Federal, Newsmax, Federal Reserve, Senate, Fed Locations: Uniondale , New York, U.S, U.S .
The foundation of Dow's work was based on the analysis of price trends, comparing swing highs and swing lows to define and track the trends over time. An initial look at the chart of Microsoft (MSFT) may suggest a consistent uptrend of higher highs and higher lows. And while this short-term uptrend is a valid observation, this also means Microsoft may be forming the dreaded "bear flag" pattern, which often precedes a major downdraft. A bear flag pattern occurs when you have an initial downtrend, in this case, the drop from $470 to $385 from early July to early August of this year. If MSFT would drop below $410 in the coming weeks, that would complete the bear flag pattern, and would also push the price back below the 200-day moving average.
Persons: Charles Dow, Downside, David Keller Organizations: Microsoft, MSFT, CMT, CNBC, NBC UNIVERSAL
New York CNN —A group of news organizations filed an emergency petition Thursday, asking Nevada’s highest court to unseal the ongoing family succession battle playing out in a Reno courtroom that will determine the future of Rupert Murdoch’s vast media empire. But his three other eldest children, who have more moderate views, are fighting the change. The Murdoch case was only revealed after The New York Times published a report revealing its existence in July. “The public has immense interest in which of Murdoch’s children will succeed him,” the news outlets said in their petition. In its petition to the high court, the news outlets argued that selective redactions can be made to protect truly private information.
Persons: Nevada’s, Rupert Murdoch’s, Murdoch, Lachlan –, , Rupert, Organizations: New, New York CNN, Fox, The New York Times, CNN, Washington Post, Nevada Supreme, Fox News, Street Journal Locations: New York, Reno, Washoe, Nevada, American
(This is a wrap-up of the key money moving discussions on CNBC's "Worldwide Exchange" exclusive for Pro subscribers. Worldwide Exchange airs at 5 a.m. Worldwide Exchange Word of the Day: "Dissent" Jay Woods of Freedom Capital Markets said he's paying close attention to Fed Governor Michelle Bowman becoming the first dissenting Fed Governor since 2005. "I think this is the return of the cyclical trade," said Shah on Worldwide Exchange. Worldwide Exchange Pick: FedEx and Transports FedEx reports after the bell Thursday.
Persons: Jay Woods, Michelle Bowman, Seema Shah, Woods Organizations: Pro, Worldwide, Federal Reserve, Freedom Capital Markets, Management, FedEx, Transports FedEx, Dow
The Fed looks like it's following the same path it did in 1995, according to TS Lombard. It's also great news for stocks, as the S&P 500 more than doubled in value that decade. AdvertisementThe Fed is following a 30-year-old playbook with its interest rate moves — and that's good news for the US economy, according to TS Lombard. Stocks soared a day after the big rate cut. Despite wobbling in the hours after the Fed's rate move, the major indexes hit fresh records in Thursday trades.
Persons: It's, , Dario Perkins, Perkins, Stocks Organizations: TS Lombard, Service, Fed, American Institute for Economic Research, Cleveland Fed
Read previewNASA's Deep Space Food Challenge, launched in 2021, asked teams worldwide to develop a sustainable way to feed and nourish astronauts on long-duration space missions, including to Mars. The biotech company Interstellar Lab beat over 300 competing teams to receive NASA's $750,000 grand prize in August for its project NuCLEUS (NUtritional Closed-Loop Eco-Unit System). The software that controls the lighting, humidity, and temperature in each cube manipulates the environment to provide the optimal growing conditions for each plant's nutritional content. Interstellar Lab is launching one of its systems into space next yearPart of NASA's $750,000 award will go toward paying the team for their hard work. Interstellar LabWhile NuCLEUS was designed with NASA astronauts in mind, Belvisi said that Interstellar Lab is also working with private companies.
Persons: , It's, Barbara Belvisi, Belvisi Organizations: Service, Interstellar Lab, Business, Lab, B12, Lab's, NASA
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Salesforce was having a strong session as well, taking in stride the late-day Wall Street Journal report that Disney will no longer use Salesforce-owned Slack after a data hack. 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. Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street.
Persons: Jim Cramer, Dow, Jim Cramer's, Lisa Su, Salesforce, Slack, Procter & Gamble, Jim Organizations: CNBC, Federal Reserve, Nasdaq, Tech, Devices, Journal, Disney, Barclays, Treasury, Procter, Fed, FedEx, Jim Cramer's Charitable Locations: Procter &
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewNo politician has done more than Sen. JD Vance to keep unverified claims of pet-eating Haitian immigrants in the news. "I think that conversation, overall, has been distracting from the real issue at hand," said Rep. Juan Ciscomani. That doesn't mean the Arizona congressman, whose district includes portions of the US-Mexico border, isn't supportive of tougher border security and immigration measures. "There's a lot bigger issues that should be focused on, and I think, obviously, in these conversations, showing respect for the Haitian community is important."
Persons: , Sen, JD Vance, Juan Ciscomani, Harris, Mike Lawler, Donald Trump, Vance, Mike DeWine, Trump, DeWine, Springfield, YouGov, Mitt Romney, it's, Marc Molinaro, Molinaro, who's, Shelly Moore Capito, Biden, John Cornyn of, Josh Hawley, Hawley Organizations: Service, Biden, Business, Republican, PBS, Springfield Locations: Arizona, Mexico, tossup, Springfield , Ohio, United States, New York, Springfield, Utah, West Virginia, John Cornyn of Texas, Josh Hawley of Missouri, Springfield , Missouri
CNN —The dappled starlight and swirling clouds of Vincent van Gogh’s “The Starry Night” are thought to reflect the artist’s tumultuous state of mind when he painted the work in 1889. Now, a new analysis by physicists based in China and France suggests the artist had a deep, intuitive understanding of the mathematical structure of turbulent flow. Batchelor’s scaling mathematically represents how small particles, such as drifting algae in the ocean or pieces of dust in the wind, are passively mixed around by turbulent flow. “I think this physical relationship must be embedded in his mind so that’s why when he made this famous ‘Starry Night’ painting, it mimics the real flow,” Huang said. “What I take away from studies like this is that (van Gogh) captured some of this universality in the beautiful (‘Starry Night’),” Beattie added.
Persons: Vincent van Gogh’s, , Yongxiang Huang, Van Gogh, mutilating, van Gogh's, Huang, Andrey Kolmogorov, John Constable, De Agostini, James Beattie, Beattie wasn’t, van Gogh, ” Huang, Beattie, , Van Gogh’s, Yinxiang, Gogh, ” Beattie Organizations: CNN, State Key Laboratory of Marine Environmental Science & College of Ocean, Sciences, Xiamen University, Princeton University, NASA's, NASA Goddard Space, NASA’s, Museum of Modern Art Locations: China, France, Saint, Provence, Soviet, Brighton, British, New Jersey, New York
Talen's surge comes on the back of its deal to sell a data center campus to Amazon Web Services and supply the facility with nuclear power from the Susquehanna station northwest of Allentown, Pennsylvania. The deal is viewed as a trailblazing agreement for the power industry, and Wall Street has taken notice. A year ago, Talen was not covered by any Wall Street analysts, according to FactSet data. And Talen's assets are located almost entirely in the PJM grid, a predominantly mid-Atlantic region where power prices are expected to explode as demand outstrips supply due in part to growing data center load. Data center developers are expected to spend $250 billion annually on data centers, Barclays analyst Nicholas Campanella said in a note this week.
Persons: Talen, Shahriar Pourreza, Pourreza, TLN, William Appicelli, Nicholas Campanella, Campanella, amortization, Appicelli Organizations: Talen Energy Corporation, Amazon Web Services, Street, Barclays, Guggenheim, Jefferies, UBS, Susquehanna, Talen Energy, AWS, American Electric Power, AEP, Federal Energy Regulatory Commission Locations: Susquehanna, Allentown , Pennsylvania, Wednesday's
The Fed's big rate cut won't stop a recession, economist David Rosenberg says. Rosenberg's bearish call comes one day after the Federal Reserve delivered a jumbo 50 basis point interest rate cut, the Fed's first rate cut since 2020. AdvertisementBut Rosenberg isn't backing down, likening 2024 to 2007, right before the economy slowed and entered a painful recession. He added: "Half the country is in recession right now when we apply data science to the commentary." AdvertisementAs for the soaring stock market, Rosenberg says investors should heed the warning signs coming out of the bond market.
Persons: David Rosenberg, He's, Rosenberg, , Rosenberg's Organizations: Service, Federal Reserve, BLS
Related storiesFranchetti referenced that assessment again in her speech, saying that it's "what Chairman Xi told his forces, that they should be ready for war by 2027." Fears of a US-China war have further been stoked by Beijing turning more hostile in its territorial disputes with Japan and US allies in the South China Sea. "By 2027, the Navy will be more ready for sustained combat," she said. The admiral aims to have 80% of US naval forces ready to deploy and fight anytime. "We have learned a great deal about the future of war at sea," Franchetti said.
Persons: , Lisa Franchetti, Franchetti, Xi Jinping, Xi, Joe Biden, It's, Yemen's Houthi, we've Organizations: Service, US Navy, Business, Naval War College, Democratic Progressive Party, Navy, Star, Pacific Fleet, Russia, Associated Press, 6th, Joint Chiefs, Staff Locations: China, Beijing, Taiwan, Rhode Island, People's Republic of China, Japan, South China, Russia, Iran, Republic of China, Washington, Ukraine
Introduction to the federal funds rateDefinition and purpose of the federal fund rateThe federal funds rate, or fed funds rate, is the interest rate set by the Federal Open Markets Committee. The Federal Reserve lowered the federal fund rate on September 19, 2024, to stop aggressive inflation and prevent a recession. Today, the federal fund rate is 5.00%, with the federal fund target rate being 4.75% to 5.00%. How the federal funds rate worksThe federal funds rate, or the overnight rate, is the interest commercial banks charge when they lend money to one another for extremely short-term periods — literally, overnight. Federal funds rate FAQsWhat happens when the federal funds rate is high?
Persons: Karen Fernandez Tessa Campbell, Tessa Campbell, Tessa, she’s Organizations: Federal Reserve, Federal, Federal Open Markets, Fed, Market, Fed's, Governors, Federal Reserve Bank, Susquehanna University
One study estimated that the world's supply of usable AI training data could be depleted by 2032. An OpenAI spokesperson said the company's bot was querying Coates' website roughly twice per second. But hungry AI botnets scrape first, ask questions later. "Utterly sick"Coates says his Game UI Database is back up and running and he continues to add to it. But Coates' story is emblematic of a bigger question: When AI comes to change the world, who bears the cost?
Persons: , Edd Coates, Coates, Jay Peet, We've, Joshua Gross, Gross, Jennifer Martinez, Anthropic, Senecal, botnets, robots.txt, Roberto Di Cosmo, Di Cosmo, Tania Cohen, Cohen Organizations: Service, Business, OpenAI, Google, Microsoft, Software Heritage, Software Locations: It's
Instead of Check Ins only being set up manually, people are getting suggestions popping up on their iPhone screens to remind them to set up a Check In — with random contacts, like exes and bosses. Some people are getting "Check In" suggestions on their iPhones. But the suggestion isn't mutual — Max told me he sometimes gets a suggestion to Check In with his upstairs neighbor. AdvertisementIt's possible to turn off "Siri Suggestions" in both Messages and Maps — which might stop this feature. But this would also mean any other helpful Siri suggestions you like would get turned off.
Persons: you've, We've, Max, Siri, we're, They're, Apple, Kylie Robison, Robison, John Organizations: Service, Business, Apple
London CNN —The high-end London department store, Harrods, said Thursday that it is “utterly appalled” by allegations of abuse – including rape – perpetrated by its former owner, the late billionaire Mohamed Al Fayed. More than 20 female ex-Harrods employees have accused Al Fayed, who died last year at age 94, of sexually assaulting them, according to an in-depth BBC investigation. One said she was assaulted when she was 15 and Al Fayed was 79. Stefan Kiefer/imageBROKER/ShutterstockIn 2008, Al Fayed denied allegations of sexual assault on a girl under the age of 16. This process is still available for any current or former Harrods employees.”
Persons: Mohamed Al Fayed, Al Fayed, Al, Duke of Windsor, Al Fayed’s, Dodi Fayed, Princess Diana, Fayed’s, ” “, Tony Leeming, Stefan Kiefer, imageBROKER, Organizations: London CNN, Harrods, Ritz, Villa Windsor, BBC, Police, ” Harrods Locations: London, Harrods, Paris, British, Paris .
Bangkok, Thailand CNN —A Thai woman has been rescued by police after being strangled by a python for more than two hours. The python then wrapped itself around her until she fell to the ground. She struggled to free herself from the snake’s tightening coils for two hours without success, according to the police. According to Thailand’s National Health Security office, some 12,000 people were treated for venomous snake and animal bites in the country last year. Twenty-six people died from snake bites during that period, official figures show.
Persons: , , Sergeant Anusorn Wongmalee, Arom Organizations: Thailand CNN, CNN, ” Police, Thai National Parks ., Thailand’s National Health Security Locations: Bangkok, Thailand, Thai, Samut, Samut Prakan
FedEx reported a steep quarterly profit drop and lowered its full-year revenue forecast on Thursday after its customers continued to trade down from speedy, pricey delivery to cheaper, slower options. Shares in the Memphis-based delivery giant tumbled almost 11% to $267.74 in after-hours trading, dragging shares in rival United Parcel Service down 2.5%. The shift to less-profitable packages is squeezing profits at FedEx and UPS. Subramaniam is leading a complex restructuring at FedEx that involves slashing billions of dollars in overheads and merging its separate Ground and Express delivery units. On an adjusted basis, profit fell to $3.60 per share from $4.55 per share a year ago.
Persons: Raj Subramaniam, Subramaniam Organizations: FedEx, United Parcel Service, UPS, Reuters, Federal, United States Postal Service, FedEx Freight Locations: Memphis, China, Shein, U.S
He founded an AI startup in 2023 and told BI the majority of his 14 employees come in five days a week. "Remote work benefits people who are more stable in their career at the expense of people who are junior," he said. BI has reported on multiple Gen Z employees who feel isolated and restricted by their remote working environment. Advertisement"If you're a new grad and you're starting a job and you just work a remote job, you're just shooting yourself in the foot," he said. He told BI, "Four or five years ago, this was the norm," adding, "Why are we even thinking remote work is normal?"
Persons: , Jeffrey Wang, Wang, Everyone's Organizations: Service, Plaid, Harvard, Business, Tech, Networking, BI Locations: San Francisco, Hawaii
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