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Stocks struggled this week as rising tensions in the Middle East set off the strongest rally in oil prices since March 2023. "The stock market has been living up to October's reputation of increased volatility," said Glen Smith, chief investment officer at GDS Wealth Management. Inflation report, Fed minutes on deck In the week ahead, investors will keep an eye on a couple of potential catalysts. On Wednesday, investors will parse minutes from September's central bank gathering for insights into the future path of monetary policy. "I would say the inflation report is probably less important than it used to be," Dickson said.
Persons: Stocks, Glen Smith, Said, Mike Dickson, Chris Zaccarelli, Zaccarelli, Investment's Dickson, It's, Dickson, Wells, John Williams, JPMorgan Chase Organizations: Dow Jones Industrial, Nasdaq, Federal Reserve, GDS Wealth Management, Federal, Horizon Investments, CNBC Pro, Independent, Alliance, PepsiCo, Delta, JPMorgan Chase, PepsiCO, New York Fed, PPI, University of Michigan, BlackRock, Bank of NY Mellon, JPMorgan Locations: White, Wells Fargo, Fastenal, Wells
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
Costco sells a broad selection of gold and silver products, and now it's adding platinum to the mix. The wholesaler has already sold through multiple rounds of platinum coins and bars in the past week. AdvertisementCostco shoppers have been snapping up a broad selection of gold and silver products over the past year. Costco now offers platinum products online, including both bars and coins. Related storiesGoldCore's business is primarily in gold and silver, but Russell told BI that platinum makes up a "very small percentage" of what the company sells.
Persons: , Gary Millerchip, Edward Sterck, Sterck, bode, Mindy Schauer, David Russell, Russell Organizations: Costco, Service, Canadian Mint, Platinum Investment Council, Media, Getty, ICE Locations: Swiss, Orange
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
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
North Carolina has racked up the highest death toll thus far with 106 fatalities reported. Kim AshbyKim Ashby, a North Carolina teacher of 20 years, is described as “the glue that holds everyone together,” her daughter, Jessica Meidinger, told CNN. A neighbor took a photo of the Ashby home in Elk Park, North Carolina, as it floated in the river on Friday. Omar Khan, 44, disappeared after Helene flooded Asheville, North Carolina. Julie Le Roux has been missing since a mudslide destroyed the Marion, North Carolina, home she had taken shelter in from the raging storm.
Persons: Helene, Deanne Criswell, CNN’s Jim Acosta, , Buncombe County Sheriff Quentin Miller ., Steven Cloyd Steven Cloyd, Matthew Cloyd Matthew Cloyd, Steven Cloyd, he’s “, Matthew Cloyd, , Steven, Keli Cloyd, Keli, he’d, ” Steven Cloyd texted, texted, ” Keli Cloyd, Matthew, Steven Cloyd’s Jeep, Kim Ashby Kim Ashby, Jessica Meidinger, Kim, Rod Ashby, Meidinger, ” Meidinger, ” Kim Ashby, Lauren Meidinger, Rod, ” Lauren, , , stepdad, Kim Ashby, Ashby, ” Jessica Meidinger, Jessica, he’s, ” Lauren Meidinger, they’ve, she’s, Rosa Andrade, Carina Alonso, Erwin , Tennessee –, Alonso, WVLT, Andrade, ” Alonso, Francesco Guerrero, Rosa Maria Andrade Reynoso, Guadalupe Hernandez, Monica Hernandez Corona, Saul Young, Jimmy Erwin, ” Omar Khan Omar, floodwater, K.M, Khan, Omar Khan, Zubila Shafiq, ” K.M, Shafiq, could’ve, We’re, ” Shafiq, Julie Le Roux, John Norwood, Le Roux, WRAL, Norwood, Robert Martin, Will Kehler Organizations: CNN, FEMA, Carolina’s Buncombe County Sheriff’s, Buncombe County Sheriff, CNN News Central, News Sentinel, USA, Associated Press, WCYB, Emergency, ABC, WRAL Locations: United States, Carolina’s Buncombe County, Buncombe County, Buncombe County Sheriff Quentin Miller . North Carolina, North Carolina, Rockford , Illinois, Elk Park , North Carolina, Tennessee, Sanford, Raleigh, Elk, floodwater, Erwin ,, Andrade, Erwin , Tennessee, Unicoi, Asheville , North Carolina, McDowell County, Norwood, Marion , North Carolina,
Singapore Reuters —A Singapore court charged a property billionaire on Friday with obstructing justice and abetting offenses by a disgraced ex-transport minister jailed a day earlier in the city-state’s high-profile government graft case. Iswaran was imprisoned for 12 months for obstructing justice and improperly receiving gifts as a public servant, with Ong a central part of the prosecution’s case. Ong’s firm, Singapore-listed Hotel Properties, requested a trading halt early on Friday following Thursday’s announcement that he would be charged. Ong was charged with one count of abetting Iswaran’s receiving of valuables and one count of obstruction of justice, according to the charge sheet. Channel NewsAsia said Ong’s court hearing was adjourned until pre-trial proceedings on November 15.
Persons: Ong Beng Seng, Iswaran, Ong, NewsAsia, Ong’s, Iswaran’s, Justice Vincent Hoong Organizations: Singapore Reuters —, Hotel Properties Ltd, Singapore, English Premier League soccer, Doha Locations: Singapore, Doha
Twice this year, US forces in the region have assisted Israel in intercepting an attack by Iran. Austin announced in early August that he was sending the USS Abraham Lincoln Carrier Strike Group to the region; it arrived later that month. The strike group consists of thousands of sailors and Marines, spanning across three destroyers and a carrier air wing. The USS Spruance and USS Frank E. Petersen Jr., also both guided-missile destroyers that are part of the strike group, were operating in the Red Sea. In addition to the firepower brought by the Lincoln strike group, the Navy has a number of other destroyers and capabilities in the region.
Persons: Israel, Lloyd Austin, Austin, Abraham Lincoln, Spruance, Frank E, Petersen, Bulkeley, Arleigh Burke –, Murphy, Stockdale, Sabrina Singh Organizations: Washington CNN, Israel, Navy, Iranian, Defense, Abraham Lincoln Carrier Strike Group, Lincoln, 24th Marine Expeditionary Unit, Marines, USS, Air Force, Pentagon, US Central Command, Army, Patriot, High Mobility Artillery Rocket Systems Locations: East, Israel, Iran, Iraq, Syria, Iranian, Gulf of Oman, Red, York, Lebanon, Cole, Indianapolis
CNN —For humans, flashing a smile is an easy way to avoid misunderstanding. And, according to a new study, bottlenose dolphins may use a similar tactic while playing with each other. The study, which was published Wednesday in the journal iScience, found that dolphins make an open-mouthed expression, comparable to a “smile,” during their play. iScience Maglieri et alMuch loved – and anthropomorphized – by humans, dolphins are known for their playfulness, rich social lives, and complex communication with one another. “When dolphins play together, a mix of whistling and visual cues helps them cooperate and achieve goals, a strategy particularly useful during social play when they’re less on guard for predators,” he added.
Persons: , , Heather Hill, wasn’t, extrapolating, I’m, iScience Maglieri, , Livio Favaro, Hill Organizations: CNN, St, Mary’s University, Dolphins, “ Dolphins, University of Turin Locations: Italy, France, Rome, Planète Sauvage, San Antonio , Texas
Western sanctions have forced Russia to rely on the Chinese yuan for reserves and trade. China's financial system is deeply tied to the greenback, limiting diversification options. These include the entrenched role of the greenback in the global commodities trade and much larger foreign reserves than Russia, wrote Greene, a former senior advisor at the US Treasury. However, many CIPS participants are highly connected to the dollar financial system and potentially subject to the reach of US sanctions. The dollar is still kingIn short, China just can't copy Russia's sanctions-proofing playbook and is likely to continue orbiting around the dollar financial system in the near-term.
Persons: , China —, Robert Greene, Greene, China's, It's, dollarization, James Lord, Morgan Stanley's, Michael Zezas Organizations: Service, Carnegie Endowment Asia, US Treasury, Patomak Global Partners, Federal Reserve Bank of Boston Locations: Russia, China, Beijing, Russia's, Ukraine
The widening conflict in the Middle East threatens to crimp growth and stoke inflation, experts say. AdvertisementExperts say the escalating war in the Middle East could choke global economic growth and reignite inflation, just as the US is dealing with the aftermath of Hurricane Helene, and China is trying to stabilize its beleaguered economy. "War in the Middle East could exacerbate the instabilities in the global economy, further increase the uncertainties, harm disinflationary efforts, and eventually reduce the global GDP growth," he told Business Insider. AdvertisementKaya warned the conflict could accelerate inflation by disrupting international supply chains and causing the cost of energy and shipping to rise. But he emphasized that hurricanes have historically had limited and short-lived impacts on growth and inflation.
Persons: Helene, , Hurricane Helene, Ahmet Kaya, Kaya, Brent, Assaf Razin, Eitan Berglas, Oliver Allen, Allen, that's, Duncan Wrigley, China's, Wrigley Organizations: stoke, Service, UK's National Institute of Economic, Social Research, Eitan, of Economics, Tel Aviv University, Pantheon Macroeconomics, Oxford Locations: Hurricane, China, Israel, Iran, Oxford, China China, Beijing
Power released its annual North American Airport Satisfaction Study, ranking the large airports across North America. The best large airport: John Wayne Airport, Orange CountyThe John Wayne Airport in Orange County, California, is the best large airport this year after coming in the No. The John Wayne Airport, Orange County, currently serves about 11.7 million annual passengers, according to its website. 10 best large airports in North America for 2024John Wayne Airport, Orange County Tampa International Airport Kansas City International Airport Dallas Love Field Nashville International Airport William P. Hobby Airport Sacramento International Airport Portland International Airport Salt Lake City International Airport San Jose International Airport After taking the No. Taylor says the Tampa International Airport has ranked highly over the years because of its great design, signage, and sense of identity.
Persons: John Wayne, Michael Taylor, Sr, Taylor, William Organizations: North, John, John Wayne Airport, CNBC, LAX, Orange County Medianews, Getty, Orange County Tampa International Airport Kansas, International Airport Dallas Love Field, International, William P, Hobby Airport, International Airport Portland International, Salt Lake, International Airport San Jose International, Tampa International, Tampa International Airport Bloomberg, Bloomberg Locations: North America, Orange County, Orange County , California, ., Southern California, California, Newport Beach, Los Angeles, Orange, Salt, Tampa, Tampa Bay
Seoul, South Korea CNN —North Korean leader Kim Jong Un threatened to use nuclear weapons to destroy South Korea if attacked, state media reported Friday, after South Korea’s president warned that if the North used nuclear weapons it would “face the end of its regime.”The fiery rhetoric isn’t new, but comes at a time of tension on the Korean Peninsula and just weeks after North Korean state media released images of Kim visiting a uranium enrichment facility, which produces weapons-grade nuclear materials. “If such situation comes, the permanent existence of Seoul and the Republic of Korea would be impossible,” Kim added, using the proper name for South Korea. North Korea could revoke a key agreement which enshrines the potential for reunification of the Koreas as soon as Monday, when its legislature is expected to meet, Seoul’s Unification Ministry told CNN. Last month, North Korean state media released photos of Kim purportedly touring a nuclear facility in a rare glimpse of the nation’s closely guarded weapons program. On Tuesday, Yoon unveiled the Hyunmoo-5 ballistic missile, which is reportedly capable of penetrating North Korean underground bunkers.
Persons: Kim Jong, Kim, ” Kim, Yoon Suk Yeol, Jung Yeon, Yoon, ” Yoon, KCNA Organizations: South Korea CNN — North, South, North, Korean Central News Agency, Armed Forces Day, Unification Ministry, CNN, Korea Armed Forces, Seoul Air Base, Getty, SK, US, Armed Forces Locations: Seoul, South Korea, North Korean, Pyongyang, Republic of Korea, Korea, Russia, West, Korean, Seongnam, North Korea, United States
A supermajority of UAW members at Stellantis' Los Angeles Parts Distribution Center voted to request strike authorization from the International Executive Board if the company and union can't reconcile, the union said Friday morning. The lawsuit argues that if the union does strike, the court "should award Stellantis monetary damages" that result from a breach of contract. UAW President Shawn Fain has routinely said the union will strike if needed, however Stellantis has argued that would be unlawful under the contract. The lawsuit came the same day Fain and union members held their latest rally against Stellantis in suburban Detroit. Stellantis, in the lawsuit, called the grievances a sham designed to "justify mid-contract strikes against Stellantis that otherwise would violate the [contract's] no strike clause."
Persons: Carlos Tavares, Tobin Williams, Stellantis, Shawn Fain, Kamala Harris, Tim Walz, Fain, it's, it's Stellantis Organizations: Stellantis NV, UAW, Parts Distribution, International, North, DETROIT, United Auto Workers, Atlantic, CNBC, U.S, Democratic, Central District of, Stellantis Locations: Sochaux, France, Los, North America, California, Romulus , Michigan, U.S, Central District, Central District of California, Detroit
The jobs market had a very strong September
  + stars: | 2024-10-04 | by ( Madison Hoff | ) www.businessinsider.com   time to read: +3 min
The Fed is pivoting away from fighting inflation to supporting the labor market. The encouraging numbers doubled down on a labor market that's showing signs of strength after a slowdown. The Federal Reserve signaled a pivot from fighting inflation to supporting the job market with a 50-basis-point interest rate cut in mid-September, the first cut in four years. AdvertisementWage growth was another highlight for the labor market in September. The latest jobs report didn't just indicate a strong September.
Persons: , Glen Smith Organizations: Service, Federal Reserve, BLS, GDS Wealth Management, Fed
And they’ve kept up a drumbeat of dubious claims about voting, along with the lie that the election was stolen in 2020. Prosecutors allege that the Trump campaign used similarly aggressive tactics in Philadelphia to force confrontation with election officials, which Trump and his allies used to claim his supporters were denied access to observe the count. Election officials have been operating in an increasingly hostile environment as GOP skepticism of election administration has climbed. Among them: shifting numbers of noncitizens Trump allies claimed had voted in the 2020 election. In Georgia, state courts are reviewing new rules from the State Election Board that Democrats say give county election officials broad authority to delay certification of the results in search of purported election irregularities.
Persons: Donald Trump, They’ve, they’ve, , Sean Morales, Doyle, Brennan, ’ playbook, Jack Smith’s, Trump, Hannah Fried, Smith, Rebecca Cook, Brooks, Republican Al Schmidt, Schmidt, , You’ve, Michael Whatley, Whatley, Zach Manifold, Joshua Lott, noncitizens Trump, hasn’t, Cleta Mitchell, , “ I’ve, ” Lisa Posthumus Lyons, ” Posthumus Lyons, Jocelyn Benson, Patrick T, Fallon, Mike Pence, Pence, Trump’s, Smith’s, Adrian Fontes, ” Fontes, It’s, Morales, ” CNN’s Marshall Cohen, Fredreka Schouten Organizations: CNN, Justice Department, Republican, Trump, GOP, TCF Center, Detroit’s TCF Center, Prosecutors, Republican National, RNC, Guadalupe, Washington Post, Getty, Republicans, America, Legal Foundation, United Sovereign Americans, Center, Fox News, Republican Party, Board, Arizona, Brennan Locations: Detroit , Michigan, Florida, Philadelphia, Michigan, Pennsylvania, Gwinnett County , Georgia, , Gwinnett County, Guadalupe Mercado, Guadalupe , Arizona, Kent County , Michigan, Swing, Georgia , Michigan, Maricopa, AFP, Georgia, Arizona, Cochise County
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
And it’s a playbook that former President Donald Trump’s campaign has tossed aside. It’s a gamble, Trump’s campaign internally acknowledges, but one that they insist is built on data they have collected over nearly a decade and tested for the past six months. Days later, the Michigan state party chairman also plugged 10xVotes when he rolled into Traverse City, Michigan, alongside Trump running mate JD Vance. But rather than courting those voters, Trump’s campaign is in search of new ones. Trump’s campaign has also tried to seize on discord within the Democratic coalition.
Persons: Paul Hudson, “ Harris Walz ”, Donald Trump’s, Trump, Elon Musk, Tucker Carlson, JD Vance, , , Dennis Lennox, Mary, Kamala Harris –, don’t, James Blair, Blair, ” Blair, Donald Trump, Anna Moneymaker, Gerald Ford, Nikki Haley, Hillary Scholten, ” Hudson, Trump’s, Charlie Kirk, Harris, Musk, , Republicans Kari Lake, Blake Masters, Sen, Rebecca Noble, flummoxed, Joe Biden, Susie Wiles, Volodymyr Zelenskyy, Julia Demaree Nikhinson, Virgin Mary, Michael, Lennox, you’re, ” Lennox, Michael Whatley, Lara Trump, Elijah Nouvelage, Jim Pillen, wouldn’t, ” Danielle Butterfield, , CNN’s Ali Main, Kristen Holmes, David Wright, Jeff Zeleny Organizations: CNN, Republican, Grand Rapids, Trump, Republicans, Republican Party, Veteran Affairs, Grand, White House, Van, South Carolina Gov, America PAC, Musk, Federal, Commission, Getty, Trump Force, Sunshine State, Miami Gardens, Cuban, Democratic, Florida, Biden, GOP, Michigan, Republican National Committee, RNC, University of North, Republican Gov, Nebraska’s, White, Democrat, USA Locations: doorsteps, Michigan, Grand Rapids, Grand, Traverse City , Michigan, Detroit, Grand Rapids , Michigan, Congress, Kent, Arizona, Mesa , Arizona, AFP, Arizona , Wisconsin, Wolverine, Wisconsin, Iowa, Ohio, Florida, Black, Miami, Israel, Puerto, Dade County, New York, Pennsylvania, Cheboygan County , Michigan, Republican County, North Carolina, University of North Carolina, Georgia, Fulton County, Atlanta, Nevada, Nebraska, Omaha, Wisconsin , Michigan
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
The U.S. economy added a whopping 254,000 jobs in September, nearly 100,000 more than economists expected. The unemployment rate, which was expected to hold steady at 4.2%, slipped to 4.1%. Wages also rose more than expected month over month. To be sure, the new data also has traders pricing a smaller quarter percentage point interest rate reduction at the central bank's November meeting. "Fed cuts should be slower and I continue to think (and the data supports it) that the current neutral rate is well above 3% (economy chugging along on 5% yields for over a year)," said Tchir.
Persons: Sonu Varghese, Glen Smith, Lindsay Rosner, Ian Lyngen, Peter Tchir Organizations: Stock, Dow Jones Industrial, Nasdaq, Federal, Carson Group, GDS Wealth, Goldman Sachs Asset Management, BMO Capital Markets, Academy Securities Locations: U.S
London CNN —In late September, as Israel’s nearly year-long war widened and its credit rating was downgraded yet again, the country’s finance minister, Bezalel Smotrich, said that, while Israel’s economy was under strain, it was resilient. Israel’s economy could shrink even more than that, based on a worst-case estimate by the Institute for National Security Studies at Tel Aviv University. Before the October 7 attack and ensuing Israel-Hamas war, the International Monetary Fund forecast that Israel’s economy would grow by an enviable 3.4% this year. Smotrich, the finance minister, is confident that Israel’s economy will bounce back once the war ends, but economists are concerned the damage will far outlast the conflict. Florion Goga/ReutersOther sectors of Israel’s economy, while less important than tech, have been hit much harder.
Persons: London CNN —, Bezalel Smotrich, ” Smotrich, Hassan Nasrallah, ratcheting, Karnit, , Menahem Kahana, , “ Israel, , Smotrich —, Flug, Ahmad Gharabli, Fitch, , Coface, Avi Hasson, Hasson, Florion Goga, Yaron Liberman, ” Liberman Organizations: London CNN, CNN, West Bank, United Nations, BMI, Fitch Solutions, Institute for National Security, Tel Aviv University, International Monetary Fund, of Israel, Getty, Bank of Israel, Israel Democracy Institute, Institute for National Security Studies, Moody’s, Startup Nation Locations: Lebanon’s, Beirut, Israel, Lebanon, Gaza, Israel’s, Iran, AFP, Egypt, Syria, Golan, Jerusalem's Old City, United States, Tel Aviv, housebuilding . Tourism
Bitcoin investors are grappling with a demand dearth that has pushed the cryptocurrency into bear market territory at times. (In the first quarter, bitcoin ETFs bought about 9,000 BTC daily on average, following their January launch.) In the fourth quarters of 2012, 2016, and 2020 — the previous Bitcoin halving years — bitcoin prices rose by 9%, 59%, and 171%, respectively. The most recent halving — the supply cutting event that takes place every four years — happened this April. BTC.CM= YTD mountain Bitcoin (BTC) year-to-date Bitcoin is set up well for the final quarter , but it's still working through a supply overhang from the U.S. and German governments as well as Mt.
Persons: It's, John Todaro, Needham, uptrend, it's, Wolfe, Rob Ginsberg, Owen Lau, Oppenheimer Organizations: CNBC, BTC, Federal Reserve, U.S Locations: China, U.S
CNN —US job growth surged in September, blowing past expectations and providing solid reassurance for the ongoing stability of the labor market. Employers added an estimated 254,000 jobs in September, according to data released Friday by the Bureau of Labor Statistics. “The outlook for the economy in the months ahead is quite favorable, according to the September jobs report. As job gains dropped off from their once breakneck pace, economists were quick to note that the labor market was merely slowing and not at risk of imminent collapse. “The labor market is strong,” she said.
Persons: , ” Brian Bethune, , Chris Rupkey, , Elise Gould, Gould, Jerome Powell, September’s, it’s, ” Bethune, , , Josh Hirt, ” Hirt, they’ve Organizations: CNN, Employers, Bureau of Labor Statistics, BLS, Boston College, Service, Federal Reserve, FwdBonds, Economic Policy Institute, Federal, Vanguard, Boeing
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
CNN —At least 70 people, including three infants, were killed in a gang attack in the central Haiti town of Pont Sondé, the United Nations Human Rights Office said in a statement on Friday. Members of the “Gran Grif” gang used automatic rifles to kill at least 70 people on Thursday, including 10 women and three infants, according to the UN. The attack occurred in Haiti’s Artibonite department, a crucial agricultural center about 50 miles north of Port-au-Prince, where gang violence has continued to spread, according to the UN. At least 16 people were seriously injured in the attack, including two gang members hit during an exchange of fire with Haitian police, the UN said. “Despite an extremely difficult security context, the victims of this attack are being cared for by local institutions,” the ministry said.
Persons: Pont Sondé, Garry Conille, Grif, Luckson Elan, , , Conille Organizations: CNN, United Nations Human Rights, UN, Haitian, Haitian Ministry of Health, Multinational Security, Haitian National Police Locations: Haiti, Pont, Haiti’s Artibonite, Port, Haitian, Artibonite, United States, Caribbean
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