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That marks a real GDP growth rate of 51.1% between 2010 and 2021, meaning an economic contribution that's 2.7 times that of the non-Hispanic population. Despite those large figures, some economists think that U.S. Latinas could be contributing more to GDP than the report's figure. A growing forceWhen it comes to labor force participation, Latinas are outpacing other groups, the BofA report showed. Conversely, the non-Latino labor force growth rate was negative that year, meaning that more people left the labor force than entered it. "Whereas all Latinos are a source of economic strength, Latinas are drivers of vitality that the economy needs."
Persons: Manolo, Jeffrey Greenberg, Jeff Greenberg, Belinda Román, Mónica, Pérez, Matthew Fienup, David Hayes, Bautista, , Latinas, Elise Gould, Andrew Lichtenstein Organizations: Miami, Universal, Getty, Bank of America, St, Mary's University, CNBC, Fayetteville State University, Latina, Center for Economic Research, California Lutheran University, Center, Latino Health, Culture, School of Medicine, UCLA, Drivers, Economic, EPI, Brooklyn Puerto Rico Day, Corbis Locations: Miami Beach , Florida, U.S, Florida, California , Texas, New York, Brooklyn, Bushwick, Brooklyn , New York
After months of high interest rates, the economic tides appear to be shifting. Experts largely expect the Federal Reserve to slash interest rates during the central bank's meeting on Wednesday, a reversal of a rate-hiking policy aimed at taming post-pandemic era inflation. For consumers, declining short-term interest rates will come as a relief. Versions of all three vehicles currently offer guaranteed interest rates north of 5%. That means, for certain savers, now may be the last opportunity to lock in a relatively high interest rate on short- to medium-term investments, says Amy Arnott, a portfolio strategist with Morningstar Research Services.
Persons: Amy Arnott Organizations: Federal Reserve, Morningstar Research Services
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJapanese yen could trend towards 135 against the dollar on narrowing rate differentials: DBSChang Wei Liang of DBS Bank says the yen carry trade is largely over and any possible rate hike by the Bank of Japan could result further yen appreciation.
Persons: Wei Liang Organizations: DBS Bank, Bank of Japan
Lisbon, Portugal CNN —Swaths of Europe have been battered by deadly extreme weather, as rivers threaten to burst their banks in central Europe following torrential rainfall, and wildfires tear through Portugal. Seven people have now died in fires in Portugal since Sunday, including three firefighters, whose vehicle burst into flames on Tuesday. At least 17 have been killed in what authorities have called the worst floods to hit central and eastern Europe in decades. The mayor of Nysa in Poland ordered the evacuation of all 44,000 residents as water levels in the city’s river rose and threatened to send more floods through its neighborhoods. Local residents transport sandbags as they attempt to protect the embankment of the Nysa Klodzka river on Monday.
Persons: Grzegorz Grochowski, Nysa, ” Grochowski, , Mateusz Slodkowski, Daniel Mihailescu, downpours, Octavio Passos, Pedro Nunes, Robert Shackelford Organizations: Portugal CNN, Reuters, Getty, Interior Ministry, Portuguese Civil Protection Agency, CNN, European Organisation, Firefighters Locations: Lisbon, Portugal, Europe, Nysa, Poland, AFP, Romanian, Slobozia, Italy, Czech Republic, Ladek, Jesenik, Czech, Polish, Ostrava, Porto, Almofrela, Canas de Senhorim, Portuguese, CNN Portugal
International credit scores generally do not transfer to credit scores in the U.S. Nova Credit allows immigrants from some countries to apply for credit with an international credit score. FICO VantageScore Payment history (35%) Payment history (40%) Credit balance (30%) Length & type of credit (21%) Length of credit history (15%) Percent of credit used (20%) New credit (10%) Total debt/balances (11%) Mix of credit accounts (10%) Recent credit behavior and inquiries (5%) Available credit (3%)Varying reporting standardsOther countries have credit-scoring systems that differ from the United States. Check for applying without a U.S. credit history — While filling out a credit card application, check a box with "apply without having a U.S. credit history." Along with exploring credit scores, credit reports, and how to build credit, Jennifer analyzes how current economic trends impact everyday people and offers her expert advice on budgeting, saving, and growing wealth in today’s economy.
Persons: Misha Esipov, Dun, Bradstreet, Equifax, TransUnion, you've, Jennifer, Read Organizations: Nova Credit, Popular, Nova Credit's, Nova, American Express, Business, Yahoo, Finance, CBS, MSNBC, CNBC, Forbes, Black Enterprise, USA, The Johns Hopkins University Carey School of Business, Business Journalists Locations: U.S, United States, America, Experian, Nova, Canada, Japan, Australia, Brazil, Dominican Republic, India, Kenya, Mexico, Nigeria, Philippines, South Korea, Spain, Switzerland, TheGrio, New York City
It coincides with the launch day of the "Dungeons & Dragons" Player's Handbook. Go to newsletter preferences Thanks for signing up! AdvertisementCritical Role, the crew best known for being a mega-successful "Dungeons & Dragons" streaming show, has made a nerd world power move for the books. Over the past nine years, the company has gone from eight nerds playing "Dungeons & Dragons" on Twitch to selling out live arena shows and making two Amazon-backed animated series . On September 17, Critical Role surprised fans by officially launching preorders for its major new tabletop role-playing game, Daggerheart.
Persons: Organizations: Service, Business
“I’m here to support my wife and everybody else that deserves the right to have freedom of their reproductive rights,” said Goldberg, a 70-year-old retired computer software developer. Women clearly feel the impact of abortion restrictions, said Harris campaign manager Julie Chavez Rodriguez. At the same time, he argued, there’s no precedent for reproductive rights being a driving issue for men. The couple has become surrogates for the Harris campaign on reproductive rights, including at last month’s Democratic National Convention. “I’m here because the fight for reproductive rights isn’t just a women’s fight,” Josh Zurawski said at the Chicago convention.
Persons: Marcia Ruberg, , Kamala Harris, Gary Goldberg, , Goldberg, Dobbs, , Harris, Tim Walz, Doug Emhoff, Julie Chavez Rodriguez, Michael Cook, Ayres, Republican pollster, , ” Ayres, , Samuel Chen, there’s, Chen, Pennsylvania Sen, Pat Toomey, Mike Mikus, Josh Shapiro, ” Shapiro, she’s, Joe Biden, Trump, Biden, Hadley Duvall, Duvall, Roe, surrogates, Morgan Mohr, Harris ’, Governor Shapiro, ” Mohr, Tony Goldwyn, Zachary Quinto, Josh Zurawski, Amanda Zurawski, isn’t, ” Josh Zurawski, ” Alexis McGill Johnson, ” Johnson, Fatima Goss Graves, ” Graves, Shapiro, ” Duvall, Andy Beshear, “ That’s, it’s, Chris Scholding, Larry Padersky Organizations: Philadelphia CNN, Trump, Democratic, CNN, Philadelphia, Republican, Pennsylvania, Pennsylvania Democratic Gov, Reproductive, Pittsburgh, Democratic National Convention, National Women’s Law, Fund, GOP, Harris Locations: Pennsylvania, Yardley , Pennsylvania, Pittsburgh, Florida, Philadelphia, Scranton, Allentown, Harrisburg, Chicago, Kentucky, New Jersey
This 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. Record close for DowThe S&P 500 and Dow Jones Industrial Average rose on Monday, with the Dow notching a record close. Next move for the BOJThe Bank of Japan won't be raising interest rates at its September meeting, according to a CNBC survey of 32 analysts. [PRO] "Golden age of fixed income"The U.S. Federal Reserve is poised to cut interest rates this week.
Persons: Shaktikanta Das, Biden, Rick Rieder Organizations: Trade Center, CNBC, Dow, Dow Jones, Nasdaq, Nikkei, U.S ., Midea Group, Hong Kong, Bank of Japan, Bank of India, Intel, U.S . Federal Locations: Manhattan, Jersey City , New Jersey, Asia, Pacific, Hong
Read previewThis as-told-to essay is based on a conversation with James Thompson, a 40-year-old strategic partner development manager at Google from London. In 2023, after over two decades of working in the tech and telecommunications industry, I landed a job at Google as a strategic partner manager. I never thought I'd be even considered for a role there because my tech career didn't begin with a traditional background. I dropped out of high school and polytechnicI dropped out of high school at age 17. AdvertisementI've been at Google for just over a year now and my experience has been amazing so far.
Persons: , James Thompson, It's, I'd, didn't, I've, I'm, it's, Jane Zhang Organizations: Service, Google, Business, Vodafone, Cisco, British Telecom, LinkedIn, Big Tech Locations: London, New Zealand
One of the main takeaways was that the biggest threats to dollar dominance are swelling US debt levels and fiscal deficits, which officials in Washington could step up to tackle. "The biggest challenge to US dollar dominance is the US itself given the mounting public debt levels and elevated fiscal deficits," JPMorgan said, in a note summarizing the webinar. For instance, many alarmists have focused on the dollar's share in foreign reserve holdings, often pointing out that the foreign central banks have piled into gold as an alternative. But this fixation omits the fact that bank deposits, sovereign wealth fund assets, and other dollar instruments have been on the rise among reserve holdings, JPMorgan said. "In China's case, it has had an explicit target to bring down dollar holdings in FX reserve but has shifted USD holdings to state-owned entities.
Persons: , Peter G, Mark Sobel —, Trump, Sobel Organizations: JPMorgan, Service, US, Peterson Foundation, Treasury, Monetary, Financial, greenback Locations: Washington, China
Loren Elliott | ReutersThe new Apple Watch Series 10 hits stores on Friday. The Apple Watch Series 10, as its name implies, marks the tenth year of the Apple Watch. It's already available for the Apple Watch Series 9. The Apple Watch Ultra and Ultra 2 are compelling in part because they offer up to 36 hours of battery life. Apple is reportedly working on blood glucose monitoring or blood pressure monitoring for the Apple Watch.
Persons: Loren Elliott, I've, there's, Tim Cook, Apple, It's Organizations: Reuters, Apple, Apple Watch, Drug Locations: Cupertino , California
The rise comes amid anticipation that the Fed will deliver a half-point rate cut. Investors are anticipating the Federal Reserve's long-awaited rate cut tomorrow, which will be announced at the end of the central bank's two-day policy meeting. Regardless of the size of the cut, investors buying up bitcoin are anticipating the looser lending conditions will lead to more speculative behavior. We could be seeing a recovery of investors' appetite for risk-on assets like crypto, instigating more flows into Bitcoin spot ETFs," said Leena ElDeeb, a research analyst at 21Shares. Seasonal factors weakened the spot bitcoin ETF inflows this summer while deteriorating macro conditions drove investors toward safe, risk-off assets.
Persons: , Morgan Stanley, Tuesday's, Leena ElDeeb, Alex Kuptsikevich, Bill Dudley Organizations: Service, New York
Read previewVice President Kamala Harris during a Tuesday interview said she has full confidence in the US Secret Service following the apparent assassination attempt against former President Donald Trump this past weekend. "You can go back to Ohio," Harris told the NABJ moderators. "Not everybody has Secret Service. I have Secret Service protection," she continued. Advertisement"I checked on him to see if he was ok," the vice president said.
Persons: , Kamala Harris, Donald Trump, Harris, Vance Organizations: Service, National Association of Black Journalists, Business, GOP, Trump Locations: Philadelphia, Springfield , Ohio, Springfield, Ohio, West Palm Beach , Florida
Speaking to CNBC in an exclusive interview, Reserve Bank of India (RBI) Governor Shaktikanta Das discussed the issue of slowing growth in bank deposits underperforming an expansion in loans. "So there is a gap of 350 to 400 basis points," he said, referencing the difference between credit and deposit growth. Annual figures from August put loan growth at 13.6% with deposit growth at 10.8%, according to Reuters. When lending outpaces deposits, net interest margins — or the difference between what a bank earns on loans and pays out for deposits — take a hit. India's GDP slowed to 6.7% in the second quarter compared to last year's 8.2%, piling pressure on the central bank to reverse a recent hiking cycle.
Persons: Shaktikanta Das, Das, Ashish Gupta, CNBC's Organizations: CNBC, Reserve Bank of India, Reuters, Mutual Fund, Monetary, MPC Locations: India
Read previewHezbollah militants decided to switch from risky cellphones to old-fashioned pagers only months before the devices suddenly blew up across Lebanon on Tuesday, earlier reporting shows. Wireless pagers used by Iran-backed Hezbollah members mysteriously detonated around Lebanon, killing at least eight people and injuring nearly 3,000 more, including scores of militants, per local estimates. Hezbollah and Lebanon have both blamed Israel for the carnage, which has not claimed responsibility. Lebanese security services told Reuters on Tuesday that the pagers were new models acquired by Hezbollah in recent months. AdvertisementDespite long-standing concerns of escalation, Israel and Hezbollah have managed to avoid a wider confrontation.
Persons: , Israel, Washington, It's, Marwan Naamani, Benjamin Netanyahu's Organizations: Service, Wireless, Business, US State Department, American University, Getty Images, Reuters, Hezbollah Locations: Lebanon, Iran, Beirut, Ukraine, Lebanese, Israel
Analysts say don't chase this Intel pop here
  + stars: | 2024-09-17 | by ( Lisa Kailai Han | ) www.cnbc.com   time to read: +2 min
Wall Street analysts are still skeptical on Intel despite its latest moves aimed at righting the ship. Shares of Intel gained more than 3% on Tuesday after the chipmaker said it would turn its foundry business into an independent unit — allowing it to raise outside capital . The analyst added that Intel's plan to establish its foundry business as an independent subsidiary was "expected and not good." "We expect Intel's EPS to be under pressure given its foundry business, which we believe has minimal chance of succeeding," he wrote. Intel shares have lagged the broader semiconductor sector year to date, losing 56% in that time.
Persons: Bernstein, America's Vivek Arya, INTC, Christopher Danely, Intel's Organizations: Intel, Amazon, Bank of America, JPMorgan, Citi, Wells, America's, VanEck Semiconductor Locations: AVGO
Solstock | E+ | Getty Images'We fritter money away every single day'While you are still going to spend money on fixed essentials like a car payment or monthly rent, "No Spend September" is about being thoughtful in how you're spending money, said Francis, who is a member of CNBC's Financial Advisor Council. When it comes to her own finances, Szafarski believes September can also be a "good time to reset" because it's easy to spend money in the summer, she said. "Depriving yourself for long periods of time can create a boomerang effect of spending," Francis said. To that point, here's a guideline of how to benefit from No Spend September. "Are there things you're spending money on that you don't really need or you're not really using?"
Persons: Francis, Szafarski, Francis said Organizations: CNBC's
We expected there to be a cooling labor market — that's kind of the goal — and it's always just, you know, how cool?" That being said, when it comes to the labor market … it is, in fact, so over. That's an improvement over July's 4.3% unemployment rate, but overall, the jobs market in the US is cooling off. Related stories"If you imagine a labor market like a bathtub, the bathtub is full," said Dana Peterson, the chief economist at the Conference Board. Despite the strong labor market, they're sending endless résumés into the ether without getting any bites, and they don't understand why.
Persons: I've, it's, Allison Shrivastava, Joanne Hsu, there's, Dana Peterson, Jaime, Alexis Fowler, she'd, That's, pang, Hsu, Michael Madowitz, Y, Peterson, We're, Emily Stewart Organizations: Federal, University of Michigan, Conference Board, Roosevelt Institute, Business
I started my career as a solicitor and worked at PwC as part of their legal team in the UK. From my early days at PwC, I felt Big Four businesses operate super efficiently and do fantastic work. We work with organizations to support their early career talent, providing them with training on navigating uncertainties around personal financial literacy and how businesses work. When you're working at Big Four companies, there are all sorts of rules and regulations about the types of investments you're allowed to make because of audit restrictions. I recommend that early career professionals talk to their peers about what works for them from a personal finance position.
Persons: , Carla Hoppe, I've, who've, overspending, PwC, I'd, isn't, Gen Zers Organizations: Service, Big, Business, EY Locations: PwC
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed has done its job using its narrative to loosen financial markets: RXR Realty's Scott RechlerScott Rechler, RXR Realty chairman and CEO, joins 'Squawk Box' to discuss the Fed's policy meeting this week, impact of the central bank's interest rate decision on commercial real estate, state of the real estate sector, and more.
Persons: Scott Rechler Scott Rechler Organizations: RXR
The meeting wraps up Wednesday afternoon, with the release of the Fed's rate decision coming at 2 p.m. "I hope they cut 50 basis points, but I suspect they'll cut 25. Here's a breakdown of what's on tap:The rate waitThe FOMC has been holding its benchmark fed funds rate in a range between 5.25%-5.5% since it last hiked in July 2023. The 'dot plot'Perhaps just as important as the rate cut will be the signals meeting participants send about where they expect rates to go from here. In June, FOMC members penciled in just one rate cut through the end of the year.
Persons: Jerome Powell, William McChesney Martin Jr, Andrew Harnik, they'll, Mark Zandi, that's, Tom Simons, Zandi, Robert Kaplan, There'll, Seema Shah, FOMC, Moody's, Goldman Sachs, Powell presser, Goldman, Simons Organizations: Federal Reserve, Committee, Moody's, Wall, Jefferies, Dallas Fed, CNBC, Asset Management Locations: Washington , DC
They're learning how to be parents in an unfamiliar environment, but there's one thing that could work in their favor: low childcare costs. The couple then moved to Seoul, South Korea, about two months ago, where they currently reside. "Full-time day care is really cheap," the 38-year-old told BI via email. Between 1983 and 2023, US childcare costs rose over 800% compared to a 300% increase for overall inflation, according to a BI analysis published last year. Are you struggling with high childcare costs?
Persons: , Chris Oberman, Oberman Organizations: Service, Business, of America, . Bank of America, South Korean Locations: Netherlands, , Beijing, Shanghai, Erbil, Iraq, Seoul, South Korea, China
DoubleLine Capital CEO Jeffrey Gundlach said Tuesday that the Federal Reserve needs to ease policy swiftly amid the current economic slowdown, seeing a half-point interest-rate reduction this week. A quarter-point rate cut had been the consensus as recently as a week ago. But the 2-year Treasury yield was last at around 3.59%. The size of the Fed's first rate cut in years has been a point of debate on Wall Street. On the one hand, a rate cut could help boost earnings growth for companies following a period of high borrowing costs and stubborn inflation.
Persons: Jeffrey Gundlach, Gundlach, CNBC's Scott Wapner Organizations: DoubleLine, Federal Reserve, Treasury Locations: Huntington Beach , California, United States
Apple is in discussions with JPMorgan Chase for the bank to take over the tech giant's flagship credit card program from Goldman Sachs , a person with knowledge of the negotiations said. But the move shows the extent to which Apple's choices were limited when Goldman Sachs decided to pivot from its ill-fated retail banking strategy. There are only a few card issuers in the U.S. with the scale and appetite to take over the Apple Card program, which had saddled Goldman with losses and regulatory scrutiny. JPMorgan is the country's biggest credit card issuer by purchase volume, according to the Nilson Report, an industry newsletter. Apple and JPMorgan declined to comment on the negotiations, which were reported earlier by the Wall Street Journal.
Persons: JPMorgan Chase, Goldman Sachs, Goldman, Nilson Organizations: Apple, JPMorgan, Apple Card, Wall Street Locations: U.S
But at Fox News, they gossip about the Murdochs, the family who controls Fox’s parent company. What will happen after patriarch Rupert Murdoch dies? Could Lachlan’s younger brother James Murdoch force Fox to take a progressive bent? Rupert Murdoch, 93, is seeking to amend the family trust that he established decades ago, giving his four oldest children equal votes over the future of his conservative media empire after he dies. Under the current terms, Lachlan, James, Elisabeth and Prudence Murdoch each have equal voting rights after their father dies.
Persons: Rupert Murdoch, Lachlan, James Murdoch, Fox, Murdoch, James Murdoch’s, , James, Fox’s, Biden, Kamala Harris, James ”, Donald Trump, Rupert, Elisabeth, Prudence Murdoch, Maureen Dowd, Rupert “, ” James, Prudence, Bill Barr Organizations: New, New York CNN, Fox News, Fox, Fox Corp, HBO, CNN, The New York Times, News Corp, Wall Street Journal, New York, Liberal, Trump Locations: New York, Nevada, Reno , Nevada, Reno
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