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☆ Brazil votes in local elections with eyes on 2026 presidential showdown
▼ + stars: | 2024-10-06 | by ( ) www.cnbc.com time to read: +3 min

Traffic outside the Central Bank of Brazil headquarters in Brasilia, Brazil, on Monday, June 17, 2024. Marçal, an anti-establishment political novice who has surged in the polls with his vitriolic attacks on adversaries, ran a social media campaign with little funding and no TV time. Polls showed that candidates linked to Lula are facing trouble as the president's popularity has slipped in his third non-consecutive term. On the right, candidates associated with hard-right former President Jair Bolsonaro have fared better, even though he was banned from seeking elected office until 2030 for his unfounded attacks on Brazil's voting system. "The anti-establishment views of the right have become the trend," said political risk expert Creomar de Souza.

Persons: Ricardo Nunes, Pablo Marçal, Guilherme Boulos, Luiz Inacio Lula da Silva, pollster Datafolha, Lula, Jair Bolsonaro, Creomar de Souza, Andre Cesar, Bolsonaro, Nunes, Marçal Organizations: Central Bank of, Workers Party, Lula's Workers Party, Sao Locations: Central Bank of Brazil, Brasilia, Brazil, Sao Paulo, Brazil's

☆ In California, heat and dry conditions make arson a more potent threat
▼ + stars: | 2024-10-05 | by ( Evan Bush | Evan Bush Is A Science Reporter For Nbc News. | ) www.nbcnews.com time to read: +7 min

But as climate change leads temperatures to rise, fire seasons to grow longer and drought conditions to become more intense, intentionally set fires have more opportunity to take off and grow. Given that, he said, “an arrest can have a big payoff.”Prestemon has studied wildfire arson events in Florida, Spain and other locations. Wildfire arson isn’t well studied, but researchers in the U.S., Europe and Australia have narrowed down the profile of typical perpetrators. Cal Fire has counted between 182 and 386 arson fires each year since 2014, with rates roughly consistent relative to the number of overall fires. Investigators were able to link McGlover’s plausible movements that day to several fires, Fox said.

Persons: Muschetto, ”, ” Muschetto, Jeffrey Prestemon, “ They’re, ” Prestemon, “, Prestemon, they’re, Janet Stanley, can’t, Daniel Fox, ” Fox, That’s, it’s, Fox, Brandon McGlover, McGlover, Bezos, ” Andrea Blaylock sifts, Nic Coury, Mike Ramsey, Stout Organizations: Cal Fire, Climate, National Weather Service, U.S, U.S . Forest Service’s, Research, University of Melbourne, “, Fox, Rockefeller, AP Stout Locations: California, Los Angeles, U.S ., North Carolina, Florida, Spain, U.S, Europe, Australia, ”, Riverside County, Idyllwild , California, Forest, Calif, Butte County

☆ The defining images of the Israel-Hamas war
▼ + stars: | 2024-10-05 | by ( Introduction Bernadette Tuazon | Cnn Digital'S Director Of Photography | ) edition.cnn.com time to read: +3 min

Within hours, Israel struck back and mounted an all-out war against Hamas that has claimed more than 40,000 Palestinian lives in Gaza, according to Gaza's Ministry of Health. Thousands of images have been taken since October 7: Dead bodies strewn on the ground, lying side by side near a bus stop in Israel. Ziv Koren, a 30-year veteran photojournalist with Polaris Images, was woken up on October 7 by the blaring sound of emergency sirens in Israel. Palestinian photographer Samar Abu Elouf was front and center in the early months of the war. The photographs are capturing history as it unfolds, “and these need to be taken every single day.”Editor's note: This gallery contains graphic images.

Persons: Israel, Young, what’s, Ziv Koren, ”, Samar Abu Elouf, Koren, “ Organizations: Hamas, Gaza's Ministry of Health, Protect Journalists, Polaris, CNN Locations: Israel, Gaza, Israeli, Tel Aviv, Palestinian

☆ Israel's strike back at Iran could hurt the Harris campaign in its final stretch if gas prices soar
▼ + stars: | 2024-10-05 | by ( Brent D. Griffiths | Chris Panella | ) www.businessinsider.com time to read: +12 min

The move could drive oil prices up further, creating a headache for Harris' campaign. If Israel did strike Iran's oil, it would likely have two main targets. Then, on Thursday, he said the US and Israel were discussing whether the US would support Israel striking Iran's oil facilities. Biden has indicated there are conversations between the US and Israel about whether Iran's oil facilities are a legitimate retaliatory strike option. Back in September, global oil prices fell to the lowest level in almost three years, and the US has seen a historic year of oil production.

Persons: Israel, Harris, —, Kamala Harris, Patrick De Haan, De Haan, Clay Seigle, Siegle, ATTA KENARE, Kit Haines, Haines, Hassan Nasrallah, Ismail Haniyeh, Biden, Benjamin Netanyahu, Netanyahu, Wisam, Seigle, Joe Biden, backtrack, Michael M, Nicholas Carl, there's, Privately, JIM WATSON Organizations: Service, Incumbents, Getty, Analysts, Energy, Wednesday, National Iranian Tanker Company, American Enterprise, Business, Publicly Locations: Iran, Israel, Ukraine, Tehran, Yemen, AFP, Hormuz, Saudi, Anadolu, Russia

☆ The jobs number surpassed everyone’s expectations. Cue the complaints about the Fed
▼ + stars: | 2024-10-05 | by ( Bryan Mena | ) edition.cnn.com time to read: +3 min

“Did the Fed even need to cut rates in September, let alone cut by 50bps (basis points)?” Seema Shah, chief global strategist at Principal Asset Management, wrote in a note on Friday. Second-guessing the Fed isn’t new, of course. Central bank officials themselves note the uncertainty inherent in their work, especially when the economy reaches inflection points. Even Fed officials don’t always agree with the central bank’s actions, such as Fed Governor Michelle Bowman, the lone dissenter to the Fed’s decision to cut rates by half a point in September. ‘This isn’t exact science’Fed officials aren’t shy about admitting that they don’t always have confidence in how the US economy will evolve.

Persons: Washington CNN —, Jerome Powell, Philipp Carlsson, Seema Shah, James Knightley, Powell, don’t, Michelle Bowman, wouldn’t, —, ” Carlsson, Szlezak, “, ” Gina Bolvin Organizations: Washington CNN, Federal Reserve, Boston Consulting, Asset Management, ING, Bolvin Wealth Management Locations: Wall, Washington

☆ Why WordPress founder Matt Mullenweg has gone 'nuclear' against tech investing giant Silver Lake
▼ + stars: | 2024-10-05 | by ( Ari Levy | ) www.cnbc.com time to read: +11 min

Automattic founder, Matt Mullenweg Source: AutomatticMatt Mullenweg, who turned 40 in January, has now spent more than half his life working on WordPress. Silicon Valley private equity firm Silver Lake bought a majority stake in WP Engine in 2018, investing $250 million and obtaining three board seats. WordPress took the drastic step of banning WP Engine from using the WordPress resources necessary to serve its customers, which preceded a lawsuit filed on Wednesday by WP Engine against Mullenweg and Automattic. In the post, Mullenweg criticized WP Engine for not contributing enough back to the WordPress ecosystem. A Silver Lake spokesperson said WP Engine was handling all inquiries.

Persons: Matt Mullenweg, He's, —, I've, Mullenweg, he'd, Neal Katyal, Tomasz Tunguz, Tunguz, Automattic, Lee Wittlinger, they're, didn't, Bob Perkowitz, Perkowitz, he's, They've, wouldn't Organizations: WordPress, WP, Silver Lake, CNBC, Theory Ventures, WordPress.org Locations: U.S, WordCamp, Portland , Oregon, Silver, Auotmattic

☆ Biden administration won’t extend legal status for certain migrants from four countries
▼ + stars: | 2024-10-05 | by ( Priscilla Alvarez | ) edition.cnn.com time to read: +3 min

CNN —The Biden administration won’t extend legal permissions for certain migrants from Nicaragua, Cuba, Venezuela and Haiti provided through a temporary humanitarian program designed to curb illegal border crossings, requiring them to seek other legal means to remain in the United States, according to the Department of Homeland Security. The program required that these migrants have a sponsor in the US, undergo screening and vetting, and complete vaccinations. The program is still available to new applicants from the four countries, though the administration briefly paused it this summer over concerns about fraud. Homeland Security officials maintain the program was intended to be temporary, providing those who arrived the opportunity to apply for other legal status while in the United States. The administration didn’t guarantee the program would be extended, though it did allow re-parole for Ukrainians and Afghans under similar programs.

Persons: CNN —, Biden, won’t, Joe Biden’s, Donald Trump, Kamala Harris, “, There’s, Harris, ” CNN’s Camila DeChalus Organizations: CNN, Department of Homeland Security, Homeland Security, Register, Republicans, Biden Locations: Nicaragua, Cuba, Venezuela, Haiti, United States

Immediately after Oct. 7, Hezbollah began carrying out strikes in northern Israel in a show of solidarity with Hamas. Isolated and in hiding in Gaza, Mr. Sinwar’s communication with his organization has become strained. Image A poster of Mr. Sinwar at a Palestinian refugee camp in Beirut, Lebanon, in August. The failure of Hezbollah or Iran to meaningfully damage Israel is a telling sign of Mr. Sinwar’s miscalculation, American officials said. On Sept. 13, Hezbollah released a letter that Mr. Sinwar sent in support of Mr. Nasrallah.

Persons: Yahya Sinwar, Sinwar, Benjamin Netanyahu, Israel, Mohammed Saber, Hassan Nasrallah, Mr, Nasrallah, Alkis Konstantinidis, Netanyahu, Ismail Haniyeh, Haniyeh, Arash Khamooshi, Yoav Gallant, ” Mr, Gallant, ”, Scott D, ” Julian E, Barnes, Adam Goldman, Edward Wong, Adam Rasgon, Aaron Boxerman, Ronen Bergman Organizations: Israel, U.S, Hezbollah, Hamas, Mr, Credit, The New York Times, U.S . Defense Intelligence Agency Locations: Gaza, Israel, U.S, Deir al, Lebanon, Iran, Palestinian, Beirut, Egypt, Qatar, Tehran, Rafah, Tel Sultan, Washington, New York, Jerusalem, Tel Aviv

☆ Video shows Ukrainian 'dragon' drone appearing to destroy a Russian tank with 'molten thermite'
▼ + stars: | 2024-10-05 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +3 min

New footage shows a Ukrainian "dragon" drone appearing to destroy a Russian tank with "molten thermite." Military experts have said that such drones are designed to spread terror among Russian troops. AdvertisementNew footage appears to show a Ukrainian "dragon" drone destroying a Russian tank. Ukraine's defense ministry shared the video on X on Friday, claiming in the caption that the drone fired "molten thermite" at the Russian tank. Ukraine's defense ministry said on Saturday that its forces had taken out 8,916 Russian tanks since the war began in February 2022.

Persons: —, egan, J ames, ong, ince Organizations: Military, Service, Forbes, Business Locations: Ukrainian, Minkivka, Ukraine

☆ Hong Kong plans to install thousands of surveillance cameras. Critics say it’s more proof the city is moving closer to China
▼ + stars: | 2024-10-05 | by ( Jessie Yeung | ) edition.cnn.com time to read: +11 min

Hong Kong CNN —Glance up while strolling through parts of downtown Hong Kong and, chances are, you’ll notice the glassy black lens of a surveillance camera trained on the city’s crowded streets. Hong Kong police had previously set a target of installing 2,000 new surveillance cameras this year, and potentially more than that each subsequent year. Facial recognition gates at the departure hall of Hong Kong International Airport. Tang and the Hong Kong police have repeatedly pointed to other jurisdictions, including Western democracies, that also make wide use of surveillance cameras for law enforcement. Protesters on the streets covered their faces with masks and goggles to prevent identification, at times smashing or covering security cameras.

Persons: Chris Tang, Budrul Chukrut, Tang, haven’t, Kong’s, ”, Samantha Hoffman, Hoffman, Joshua Wong –, –, “, Miguel Candela, Qilai Shen, ” Hoffman, Sing, Sing Tao, Steve Tsang, it’s, doesn’t, Normann Witzleb, Chan Long Hei, Witzleb, they’re, ” Witzleb Organizations: Hong Kong CNN —, Hong Kong, Hong Kong International Airport, Budrul, CNN, Hong Kong Police Force, National Bureau of Asian Research, New, London, Protesters, New Town, QR, New York Times, Bloomberg, Getty, SOAS China Institute, University of London, Chinese University of Hong Locations: Hong Kong, China, Hong, Singapore, United Kingdom, Tao, United States, Hong Kong Hong Kong, New York City, Beijing, Xinjiang, Bund, Shanghai, Sing Tao, Chinese University of Hong Kong, Victoria Harbour

☆ Cheap stocks to buy in the fourth quarter, according to HSBC
▼ + stars: | 2024-10-05 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

It's officially a new trading month, and HSBC recommends investors broaden their exposure in the fourth quarter by seeking out stocks with more reasonable valuations. "These 'big' companies represent the lion's share of equity index returns year to date." HSBC has a buy rating on the stock. In all, 16 of the 29 analysts covering GM have a strong buy or buy rating, and its average price target of $54.35 implies nearly 19% upside from Friday's close, per LSEG. The remaining 11 have a buy or strong buy rating.

Persons: It's, Nicole Inui, General Motors, Goldman Sachs, Goldman Organizations: HSBC, Dow, Industrial, Nasdaq, Federal Reserve, General, GM, Pharmaceutical, Pfizer, Delta Air Lines Locations: Americas, U.S

☆ 'Inflation is not dead': Consumer prices are still in focus for investors despite the Fed's labor-market pivot
▼ + stars: | 2024-10-05 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

The upcoming inflation report will help determine the Fed's next move. Friday's surprisingly strong jobs data has slashed bets of a half-point rate cut. AdvertisementBut with September's jobs report crushing expectations, concerns may have been premature. AdvertisementHow inflation data could compound these forecasts will be known on Thursday, when the CPI report comes out. Still, with inflation still slightly above the central bank's 2% target , some analysts are cautioning investors not to forget about price pressures.

Persons: Friday's, —, it's, they're, Mohamed El, Erian, Brian Rose, Seema Shah Organizations: UBS, Service, US, Bloomberg, CPI, Fed, Bank of America, Barclays

☆ Picking up extra jobs, canceling classes, and huddling in a Walmart: How North Carolina college students are navigating Hurricane Helene
▼ + stars: | 2024-10-05 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +8 min

Hurricane Helene has devastated communities in North Carolina. "There was a crowd of about 100, 200 students sitting in the middle of a Walmart in the tech department trying to call our parents," Nelson told Business Insider. AdvertisementAbby Nelson, a WCU student, had to huddle in a Walmart to call her parents after Hurricane Helene hit. AdvertisementAshley Wahlers and Asa Hoffman left UNC Asheville after Hurricane Helene hit the campus. Courtesy of Aly AndrewsRecovery efforts for Hurricane Helene continue.

Persons: Helene, —, Abby Nelson, Nelson, Nelson wasn't, Hurricane Helene, they're, That's, I'm, it's, Asa Hoffman, Ashley Wahlers, Hoffman, Wahlers, he's, he'll, she's, Aly Andrews, Andrews, Joe Biden's, Patrick Curry, Curry Organizations: North Carolina . College, Service, West Carolina University's, Walmart, Business, North, University of North, University of North Carolina Asheville, UNC Asheville, DoorDash, FEMA Locations: North Carolina, West Carolina, Illinois, University of North Carolina, Asheville, Chapel Hill, Hurricane, Yancey County

☆ Why British pop star Robbie Williams is played by a CGI monkey in the bizarre but critically acclaimed biopic 'Better Man'
▼ + stars: | 2024-10-05 | by ( Eve Crosbie | ) www.businessinsider.com time to read: +6 min

An upcoming biopic sees British pop star Robbie Williams portrayed by a CGI monkey. In the upcoming film, which is titled "Better Man," Williams is portrayed as a CGI monkey, to which he lends his distinctive voice. In "Better Man," actor Jonno Davies wore a motion capture suit so his movements and expressions could be recorded. Critics have praised the film for its originalityRobbie Williams is portrayed as a CGI monkey in "Better Man." "Better Man" will be released in selected theaters in the US on December 25, with a wider release set for January 17.

Persons: Robbie Williams, Michael Gracey, —, Elton John, Amy Winehouse, Williams, I'm, I've, Gracey, Loic Venance, Jonno Davies, hasn't, Maureen Lee Lenker, David Ehrlich, Peter Debruge Organizations: Service, Paramount Pictures, The New York Times, Cannes Film, Getty, FX, Metro, Telluride Film, Times, Toronto, Entertainment Weekly Locations: British, AFP, America, Europe

☆ I took my 86-year-old mom on a river cruise. The smaller ship and bingo nights were perfect for her.
▼ + stars: | 2024-10-05 | by ( Rebecca Deurlein | ) www.businessinsider.com time to read: +4 min

I took a river cruise because it was on my mom's bucket list. AdvertisementI took my first river cruise somewhat reluctantly. I wanted these memories with my mom, and a small cruise like this one was manageable and easy. AdvertisementThe small ship made it easier for her to navigateAmerican Cruise Lines booked everything for us, including flights and our pre-cruise hotel. AdvertisementWhile I might not have quite been the target demographic for our river cruise, my mom was, and I got to witness and share in her absolute delight.

Persons: —, Lewis, Clark, I'm, Mom, kayaked, adieu Organizations: Service, American Cruise Lines, Cruise Lines, American Harmony Locations: Columbia, Idaho, Washington, Oregon, American, Astoria , Oregon, Mount St, Helens

Hezbollah has also been accused of obstructing the election of a new president, leaving Lebanon leaderless for the past two years. A pro-Iranian Hezbollah supporter holds up a poster of assassinated Hezbollah leader Hassan Nasrallah in Beirut, on Thursday. While some Lebanese believe Hezbollah hijacked Lebanon’s political system, it also held it up. Lebanon has already suffered a year of lower-level fighting between Israel and Hezbollah along its southern border. But Lebanese political leaders are still relishing Hezbollah’s decline, he said, even some among the group’s Shia Muslim co-religionists.

Persons: Hassan Nasrallah, ” Fouad Siniora, ”, Rafik Hariri, Marwan Naamani, Sarah Zaaimi, Firas Maksad, “, ” Maksad, Nabih Berri, Jeffrey Feltman, Berri, Israel –, ” Ibrahim Moussawi, —, Siniora Organizations: NBC News, United, Getty, Hezbollah, Hariri, & Middle, Middle East Institute, WikiLeaks, Security, Keystone, —, The Washington Institute Locations: BEIRUT, Lebanon, Israel, Beirut, Iran, United Nations, Lebanese, Syria, AFP, Washington, U.S, Paris, Tehran, Riyadh, Jerusalem, “

Federal Reserve Chair Jerome Powell speaks during a news conference on September 18 in Washington, DC. Anna Moneymaker/Getty ImagesThe Federal Reserve’s recent half-point cut will take some time to work through the system, Noah Yosif, chief economist and head of research at the American Staffing Association, told CNN. “Just because the Federal Reserve votes to decrease interest rates in September does not mean that employers are going to see lower costs in October,” he said, adding that it could take three to six months to filter through to businesses. More rate cuts are expected for later this year, but the extent will depend on the health of the labor market, and that outlook could be quite murky due to impact from the strikes and Hurricane Helene. Fed officials, who are scheduled to make the central bank’s next interest rate decision just days after the October jobs report lands, will do their best to look through the noise and what are likely idiosyncratic factors, said Ryan Sweet at Oxford Economics.

Persons: Jerome Powell, Anna Moneymaker, Noah Yosif, “, ”, Helene, Ryan Sweet, Ejindu Ume Organizations: American Staffing Association, CNN, Federal Reserve, Oxford Economics, Miami University in Locations: Washington , DC, Miami University in Ohio

☆ Asheville's vibrant arts scene has powered its economy. Rebuilding will be hard.
▼ + stars: | 2024-10-04 | by ( Alexandra Byrne | Alexandra Byrne Is A New York City-Based Reporter | Incoming Intern With The Nbc News Business | ) www.nbcnews.com time to read: +3 min

Visitors to Asheville’s Buncombe County spent nearly $3 billion last year, accounting for 20% of the county’s annual economy. “It has been a very vibrant tax base” as well, added Nadine Charlsen, who owns Northlight Studios on Depot Street and served as president of the River Arts District from 2018 to 2021. Asheville’s River Arts District in 2018. Nadine Charlsen, owner of Northlight Studios, Asheville, N.C. Andrea Kulish Wilhelm, an artist and teacher who specializes in pysanky, or Ukrainian Easter eggs, has been walking down to the River Arts District every day since Helene swept through.

Persons: Helene, ”, Max Trumpower, Hurricane Helene, Nadine Charlsen, Vic Isley, George Rose, Katie Cornell, ArtsAVL, she’s, Andrea Kulish Wilhelm, Kulish Wilhelm, can’t, Charlsen, ” Charlsen Organizations: Arts, Asheville, Visitors, “, Explore, Northlight Studios, River Arts District, Arts District, Pink Dog, Cornell Locations: Asheville, North, Hurricane, North Carolina, Asheville’s Buncombe, Explore Asheville, N.C

☆ A home on a private island paradise in Belize could be yours – for $4.5 million
▼ + stars: | 2024-10-04 | by ( Jack Bantock | ) edition.cnn.com time to read: +4 min

Four Seasons Hotel & Resorts is set to turn Caye Chapel – a private island off the coast of Belize, in Central America – into a luxury club community with residences, estates, a five-star hotel and a championship golf course. Caye Chapel, shown here in a rendering, is targeting prospective homeowners with deep pockets. Included is access to a beachfront championship golf course designed by former world No. A nearby practice range can be converted to a par-three golf course in afternoons and evenings. It will not be the first golf course to have been built on the island.

Persons: Greg Norman, Larry Addington, Max Adler, Addington, Thor Urbana, Philip S, Johnny Briceño, ” Organizations: CNN, Resorts, Central America –, and Marine Reserve, Ocean, Belize Tourism, Goldson, Central America Locations: Belize, Central, Belize City, Kentucky, Mexican, Mexico, Thor, GFA, Neighboring Mexico, Costa Rica

☆ Jim Cramer's week ahead: CPI data and earnings from Delta, Domino's and major banks
▼ + stars: | 2024-10-04 | by ( Julie Coleman | ) www.cnbc.com time to read: +3 min

CNBC's Jim Cramer reviewed next week's top market-moving action, highlighting new consumer price index data and a slew of earnings reports as the season begins, including ones from Delta , Domino's and several major banks. The labor department will release September's CPI report on Thursday, and Cramer said investors who want a rate cut are hoping for a cool number. Friday brings the producer price index report, and like the CPI, this data will be a metric for the Fed's next decision, Cramer said. Big ticket financial earnings will also come out that day, including Wells Fargo , JPMorgan and Blackrock . He said banks represent the least expensive group on the market, and investors should use any weakness to buy them.

Persons: CNBC's Jim Cramer, Cramer, he's, Delta, Tesla Organizations: Wall, PepsiCo, General Motors, Federal, Big Tech, AMD, HP Enterprise, Big, JPMorgan, Blackrock Locations: Delta, Domino's, Wells Fargo

☆ Israel steps up its airstrikes on Beirut as the conflict in the Middle East escalates
▼ + stars: | 2024-10-04 | by ( Hannah Abraham | ) www.businessinsider.com time to read: +4 min

Israel is intensifying strikes on Lebanon in an attempt to dismantle Hezbollah's command. Israel also blocked a major road near Lebanon's Masnaa border crossing with Syria, a report said. AdvertisementIsrael carried out air strikes in the Lebanese capital of Beirut on Friday as it stepped up its efforts to dismantle Hezbollah's leadership. According to The New York Times, citing Israeli officials, Israel targeted Hashem Safieddine, the rumored successor of Hezbollah's assassinated leader, Hassan Nasrallah. Related storiesThere are now growing fears that the conflict could transform into a full-blown war in the Middle East.

Persons: Hashem Safieddine, Hezbollah's, Israel, —, Hassan Nasrallah, Safieddine, Mohammad Rashid Sakafi, Adraee, Avichay Adraee, Joe Biden, Jake Oubina, Piper Sandler Organizations: Service, The New York Times, National News Agency, Israel Defence Forces, The Guardian, Brent, US West Texas, Reuters, Fox Business Locations: Israel, Lebanon, Lebanon's, Syria, Beirut, Beirut's, Gaza, Tehran

☆ Jim Cramer says strong jobs report suggests no imminent recession — and that's good for stocks
▼ + stars: | 2024-10-04 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +2 min

The stronger-than-expected September jobs report is good news for Main Street and Wall Street, CNBC's Jim Cramer said Friday. That kind of backdrop should lend support to corporate earnings and by extension the stock market, he said. Indeed, all three major U.S. stock indexes traded modestly higher Friday after the jobs report. The September jobs report arrived about two weeks after the Federal Reserve began its easing cycle with a larger-than-usual half-percentage point reduction in its benchmark lending rate. "We're about to have [third-quarter] earnings," Cramer said.

Persons: CNBC's Jim Cramer, Cramer, we're Organizations: Main, Federal Reserve Locations: U.S

☆ The September jobs report dashed hopes for another jumbo rate cut next month
▼ + stars: | 2024-10-04 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

AdvertisementThe September jobs report offered good news all around — except to those expecting a second straight jumbo 50-basis-point rate cut from the Federal Reserve next month. In addition, the unemployment rate unexpectedly fell to 4.1%, bucking estimates that it would stay unchanged at 4.2%. Analysts agree that September's blowout job numbers make an aggressive interest rate cut harder to justify. Advertisement"Did the Fed even need to cut rates in September, let alone cut by 50 basis points?" Late last month, the bank predicted that investors would take on more risk if the unemployment rate hit 4.1% and if payrolls reached above 150,000.

Persons: —, Seema Shah, Glen Smith, Morgan Stanley, payrolls, Smith Organizations: Service, Federal Reserve, Asset Management, GDS Wealth Management, Federal

☆ Stellantis sues UAW in US federal court over strike threats
▼ + stars: | 2024-10-04 | by ( ) edition.cnn.com time to read: +3 min

CNN —Chrysler parent Stellantis filed a federal lawsuit against the United Auto Workers, saying the union has violated its contract by threatening to strike over the company’s delays in planned investment. The automaker filed the suit on Thursday asking the US District Court in the Central District of California to declare the decision by UAW Local 230 in Los Angeles to take a strike authorization vote violates terms of the contract reached last fall. Stellantis seeks to hold the UAW and the local union chapter liable for any potential revenue loss and other damages resulting from lost production due to any strike. On Thursday, a supermajority of UAW members at Stellantis’ Los Angeles Parts distribution center voted to request strike authorization if the company and union can’t settle a grievance over planned company investments. “The UAW acted in bad faith by disregarding this language, filing sham grievances, and calling a strike authorization vote to pressure Stellantis to proceed with planned investments,” the company said in the lawsuit.

Persons: Stellantis, Shawn Fain, Fain, ” Fain, Carlos Tavares, “ Organizations: CNN, Chrysler, United Auto Workers, Court, Central District of, UAW Local, UAW, Los Angeles Parts, can’t, Stellantis, The Energy Department, Plant Locations: Central District, Central District of California, Los Angeles, Belvidere , Illinois, Belvidere, Indiana, Kokomo

☆ Treasury yields dip ahead of September jobs report
▼ + stars: | 2024-10-04 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

The 10-year Treasury yield was lower by one basis point at 3.84%, while the yield on the 2-year Treasury was also one basis point lower at 3.697%. U.S. Treasury yields were slightly lower early Friday as investors gear up for the closely watched September jobs report. Treasury yields rose on Thursday after ADP data showed private payrolls grew by more than expected in September. Private companies added 143,000 jobs, ahead of August's figure of 103,000 and a forecast of 128,000. That was given as justification for the jumbo 50-basis-point interest rate cut carried out by the Fed last month.

Persons: Dow Jones, Jerome Powell, Powell Organizations: Treasury, U.S, Fed

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