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☆ Hong Kong investigators say Cathay Pacific’s A350 engine defect could cause ‘extensive’ damage
▼ + stars: | 2024-09-19 | by ( Chris Lau | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Hong Kong aviation investigators say an engine problem that caused Cathay Pacific to ground its entire fleet of Airbus A350 jets for inspection earlier this month could have escalated into “extensive damage.”Cathay canceled dozens of flights in early September, citing the need to inspect its A350 planes after the engine issue forced a Zurich-bound flight to return to Hong Kong shortly after takeoff on September 2. The airline had previously identified an engine component failure on the affected aircraft, though it stopped short of revealing what the problem was. The AAIA recommended the European Union Aviation Safety Agency to require Rolls-Royce, the engine maker behind the popular A350 long-haul jets, to “develop continuing airworthiness information” on the problem. Following the incident, Cathay conducted a thorough inspection of its 48-strong A350 fleet and replaced components on 15 of the planes. CNN has reached out to Cathay and Rolls-Royce for comment.

Persons: Royce Organizations: Hong Kong CNN, Hong, Cathay, Airbus, Accident Investigation, European Union Aviation Safety Agency, Royce, Trent, CNN Locations: Hong Kong, Cathay Pacific, Zurich

The WNBA has enjoyed some of the fastest growth a sports league has ever seen, thanks in large part to superstar rookies Caitlin Clark and Angel Reese. But top WNBA players don't yet have the lofty salaries to match. Once the WNBA season is over, Jones plays a second season in Europe, mainly to complement her salary. The money is allocated from the $75 million the WNBA raised in 2022 from a group of investors. Though the WNBA's success has not yet led to the massive salaries seen in men's pro sports, many in the league believe it's only a matter of time.

Persons: Caitlin Clark, Angel Reese, they've, Sportico's, Cathy Engelbert, Brionna Jones, A'ja Wilson, Breanna Stewart, Jones, I'm, Engelbert, Stephanie White, It's, we've Organizations: WNBA, Las Vegas Aces, Seattle Storm, New York Liberty, Disney, Amazon Prime, NBA, Connecticut Sun, The Washington Post, CBA Locations: Europe, The Washington

☆ A new tool shows what the climate crisis could feel like in your city
▼ + stars: | 2024-09-19 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +5 min

Monthlong heat waves. AdvertisementLocal climate hazardsTo make predictions at a city level, Mackres said WRI built on global climate modeling done by hundreds of other researchers. World Resources InstituteIn Bengaluru, India's fifth-most-populous city, extreme heat has caused severe water shortages and surging energy demand. Now it ranks second behind San Francisco after a series of deadly heat waves prompted residents to install AC. If that demand is met with fossil fuels like oil, gas, and coal, it could exacerbate the climate crisis, WRI said.

Persons: WRI, Eric Mackres, Mackres, haven't Organizations: Service, World Resources Institute, Ross Center for Sustainable Cities, Resources, Bengaluru, US, San Locations: Saharan Africa, Latin America, Indonesia, Africa, Asia, Seattle, Rio de Janeiro, Johannesburg, Bengaluru, India, India's, Brazil, US Pacific Northwest, San Francisco, Tehran, Iran, Marrakech, Morocco

☆ Influencer couple denies leaving kids alone on cruise
▼ + stars: | 2024-09-19 | by ( Julia Buckley | ) edition.cnn.com time to read: +4 min

CNN —For most people, dinner on a cruise ship is a time to relax. The couple thanked their family for helping to watch the children during the cruise, and also thanked the public. Cruise ship childcareMany cruise lines offer childcare options. “It is generally not safe for a child under eight to be left alone at home, and a cruise ship cabin is no different,” he said. There are just too many unexpected things that could happen when children are left alone in a cruise cabin or hotel room.”

Persons: Abby, Matt Howard, Abby Howard, ”, muchhhh, Howard, Abby’s, “, “ We’re, It’s, Matt Thiemann, Thiemann Organizations: CNN, ” CNN, Howards, Royal Caribbean’s, Royal Caribbean, MSC Cruises, tots, Holland America Locations: Arizona, Holland

☆ Eldest-Daughter Syndrome Is Real; Big Sisters Do More, Studies Say
▼ + stars: | 2024-09-19 | by ( Kelli María Korducki | ) www.businessinsider.com time to read: +13 min

But there may be more of a science to eldest daughters than meets the eye. When a mother needed help, biology caused her eldest daughter to step up and mature faster to provide that help. Most striking of all, maternal distress was not found to speed up adrenal puberty in sons or younger daughters. "I have a closer relationship with her, to this day, than I do with many of my other older siblings," he said. His wife grew up as part of a similarly large brood — and her eldest sister had a similar experience.

Persons: Lisa Doucet, Albert didn't, Doucet, Albert, I'm, " Doucet, babysitters, they'd, Molly Fox, Fox, Pamela Jakiela, aren't, isn't, Jonathan Westover, Mary Poppins —, Westover, We're, —, Lenette Azzi, Lessing, Jakiela Organizations: University of California, Fox, Center for Global Development, Williams College, University of Essex, Child, Utah Valley University, Boston University, Child Welfare League of America Locations: Rhode Island, Providence, TikTok, Los Angeles, Kenya, Utah

☆ Jim Cramer reviews 10 stocks that perform well just after the start of a cutting cycle
▼ + stars: | 2024-09-19 | by ( Julie Coleman | ) www.cnbc.com time to read: 1 min

CNBC's Jim Cramer on Thursday reviewed stocks that have historically performed well just after the Federal Reserve embarks on a cutting cycle and chose his favorites. Using data compiled by CNBC Pro, Cramer discussed the top 10 stocks with the median best performance during three months after an initial cut over the past 40 years. "Now that the Fed's started cutting rates with a bang, you need to think about what kind of stocks will work best in what I consider to be a new regime. Our friends as CNBC Pro got you started with the ten stocks that've done best during the first three months after a rate cuts, going back to '84," he said. "But when you go through their current circumstances, the only ones I can fully endorse are Apple, Target and Textron, in that order."

Persons: CNBC's Jim Cramer, Cramer, –, Sarah Min Organizations: CNBC Pro, Apple, Target, Textron

☆ We need 'social prescriptions' just as much as traditional medicine, author of 'The Connection Cure' says
▼ + stars: | 2024-09-19 | by ( Renée Onque | ) www.cnbc.com time to read: +6 min

The best way to approach health care, in addition to traditional medicine, in Hotz's opinion, is social prescribing. This is the future Julia Hotz, author of " The Connection Cure ," hopes will become a reality in every country. Or you can create your own art to channel some of the heavy emotions you're feeling into something beautiful. Search for belonging when you're feeling lonelyOne of the most fundamental human needs is to have a sense of belonging, Hotz says. "Instead of replacing other kinds of medicine, social prescriptions complement them," Hotz wrote in her book.

Persons: Hotz, Julia Hotz Organizations: Solutions, Research, Harvard, CNBC Locations: U.S

☆ When Bay Area rent got too expensive, I bought a house in the mountains. Living here is a dream, but I'm uncertain about the future.
▼ + stars: | 2024-09-19 | by ( Perri Ormont Blumberg | ) www.businessinsider.com time to read: +7 min

I'm the cofounder and CEO of Santa Cruz Fungi. I live in Boulder Creek, California, and my business is headquartered in Santa Cruz. In May 2016, I bought a home for my husband, Paul Lazazzera, and me in Boulder Creek. We married the following year, and Paul started our business in 2021. I had to go over my budget and closed at $535,000 almost a year later on a 740-square-foot house set on half an acre in Boulder Creek.

Persons: —, Katie Sarna, It's, I've, Paul Lazazzera, Paul, Katie, I'd, Shroomsicles, Rida, There's, Lauryn Haas Organizations: Service, Santa Cruz Fungi, Business, lhaas Locations: Santa Cruz, Boulder Creek , California, San Francisco, Boulder Creek, Boulder, Paul, Katie Sarna Boulder, It's, New York City, Francisco

☆ High home prices aren't 'something the Fed can really fix,' says Federal Reserve chair Jerome Powell
▼ + stars: | 2024-09-19 | by ( Mike Winters | ) www.cnbc.com time to read: +2 min

They received some relief on Wednesday when the Federal Reserve cut interest rates by 50 basis points, which will lower mortgage costs. Federal Reserve chair Jerome Powell said the "real issue" behind high prices in the U.S. housing market is a lack of supply, which isn't "something the Fed can really fix." With rates dropping, Powell also said that "more people are likely to start moving," which could boost home sales. Powell also said that shelter costs in the CPI tend to lag behind real-time prices, so the recent slowdown in home and rent prices prices isn't fully reflected yet. The best thing the Fed can do for U.S. households is get "inflation broadly down" and reduce the cost of borrowing by "normalizing" interest rates, Powell said.

Persons: Jerome Powell, There's, Powell's, Powell, it's Organizations: Federal Reserve, Federal, National Association of Realtors, Consumer, CNBC Locations: U.S

7:03 a.m.: Bernstein cuts price target on Nike amid innovation critiques Bernstein sees slightly less room for Nike to rebound. — Alex Harring 6:25 a.m.: Jefferies recommends buying NextEra Energy Partners despite buyout concern Jefferies came out of the gates optimistic on NextEra Energy Partners . Analyst Julien Dumoulin-Smith initiated coverage of the Florida-based renewable energy stock at a buy rating. — Alex Harring 5:54 a.m.: AI helps HubSpot compete, BofA says Bank of America is keeping an eye of HubSpot's artificial intelligence work. — Alex Harring 5:46 a.m.: JPMorgan says to sell Five Below JPMorgan turned bearish on Five Below , citing challenges that are hard to surmount for the value-focused retailer during a tough year.

Persons: Piper Sandler, Bernstein, Aneesha Sherman, Sherman, Alex Harring, BTIG, it's, Jake Fuller, Fuller, DoorDash, — Alex Harring, Jefferies, Julien Dumoulin, Smith, Hertz, Dan Levy, Levy, Avis, HubSpot, BofA, BofA's Brad Sills, Sills, monetization, Matthew Boss, Boss, Abbott, Adam Maeder, necrotizing, ABT, Maeder, Fred Imbert Organizations: CNBC, Laboratories, JPMorgan, Nike, Dow Jones, Jefferies, NextEra Energy Partners, Barclays, Hertz, Bank of America, LSEG, Abbott Laboratories Locations: Wednesday's, Florida, Thursday's premarket

☆ One of Russia's longtime allies says Putin's NATO rival is now a threat to his country
▼ + stars: | 2024-09-19 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +1 min

Armenia's prime minister said Putin's NATO-style alliance, the CSTO, "creates threats" for his country. Armenia recently froze its membership in the CSTO, which was seen as a blow to Putin. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA former close ally of Russia said that President Vladimir Putin's NATO-style alliance, far from offering security guarantees, now "creates threats" for his country. Armenia recently froze its membership in the six-nation Collective Security Treaty Organization of post-Soviet states, which has been seen as Putin's answer to NATO.

Persons: Armenia's, —, Vladimir Putin's Organizations: NATO, Service, Vladimir Putin's NATO, Security, Organization, Business Locations: Armenia, Russia, Kazakhstan, Belarus, Kyrgyzstan, Tajikistan

☆ CNBC Daily Open: Markets need time to digest the 50-point cut
▼ + stars: | 2024-09-19 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Anna Moneymaker | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. By contrast, the prevailing sentiment among experts was that a 25-point cut was more likely, according to a CNBC survey. And he was likely aware that a bigger-than-usual cut might connote that the Fed's worried about the economy. "I don't see anything in the economy right now that suggests that the likelihood of a recession, sorry, of a downturn, is elevated," Powell said.

Persons: Jerome Powell, William McChesney Martin Jr, Anna Moneymaker, Jerome Powell's, Powell, –, Jeff Cox, Yun Li, Hakyung Kim, Samantha Subin Organizations: Federal, Federal Reserve, CNBC, Dow Jones, Nasdaq Locations: Washington , DC

☆ 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 .

☆ Feds trying to build an attempted assassination case against man accused in Trump incident
▼ + stars: | 2024-09-19 | by ( Zachary Cohen | Evan Perez | ) edition.cnn.com time to read: +7 min

So far, there is no evidence indicating the suspect was motivated or instructed by foreign elements to target Trump. But prosecutors and investigators have made clear that they view the incident as an apparent plot to kill the former president and are working to build a case with those additional charges. He had not made any threats, for instance, against the president or former president Trump,” Berger said. “You are free to assassinate Trump,” Routh also wrote of Iran in the apparently self-published book. Those posts, on their own, would likely not be enough to charge Routh with attempting to assassinate Trump, according to Aronberg.

Persons: Donald Trump, Ryan Wesley Routh’s, Routh, Routh didn’t, Ryan Routh, David Aronberg, ” Aronberg, ”, Chelsea Walsh, Walsh, Katrina Berger, Berger, Trump, ” Berger, HSI, Butler, “, ” Routh Organizations: CNN, Federal, Trump, FBI, Service, . NY, Beach, Customs, Border Patrol, Security Investigations, HSI, Capitol, Global Citizen Locations: Florida, Trump, West Palm Beach , Florida, North Carolina, Hawaii, Ukraine, Kyiv, Butler , Pennsylvania, Iran, Taiwan, North Korea, Afghanistan, Tehran, Moscow, “

☆ Dollar rebounds after Fed goes big on rate cut
▼ + stars: | 2024-09-19 | by ( ) www.cnbc.com time to read: +4 min

The U.S. dollar rose broadly on Thursday, recovering from an earlier tumble in the immediate aftermath of the Federal Reserve's outsized interest rate cut that had been largely priced in by markets. The U.S. dollar rose broadly on Thursday, recovering from an earlier tumble in the immediate aftermath of the Federal Reserve's outsized interest rate cut that had been largely priced in by markets. Fed policymakers on Wednesday projected the benchmark interest rate would fall by another half of a percentage point by the end of this year, a full percentage point next year and half of a percentage point in 2026, though they said the outlook that far into the future is necessarily uncertain. "So to expect an easing today because of what the Fed has done seems a little bit too hard to believe." Elsewhere, the Australian dollar edged up 0.05% against its U.S. counterpart to $0.6768, while the New Zealand dollar advanced 0.04% to $0.6210.

Persons: Jerome Powell, it's, Rodrigo Catril, —, Eric Robertsen, Sterling, NAB's Organizations: U.S, Wednesday, Reuters, National Australia Bank, Bank of England, New Zealand Locations: U.S, Singapore

☆ Mansion to misery: A glimpse inside the prison Sean ‘Diddy’ Combs now calls home
▼ + stars: | 2024-09-19 | by ( Artemis Moshtaghian | ) edition.cnn.com time to read: +5 min

CNN —Described as “disgusting” with “horrifying” conditions, the detention center music mogul Sean “Diddy” Combs now calls home is a far cry from the Miami and Los Angeles mansions he once lived in. A federal judge denied Combs bail Wednesday saying the bail proposal set forth by his defense attorneys was “insufficient” in addressing the court’s concerns. This after the Federal Bureau of Prisons shuttered its Manhattan complex shortly after multimillionaire financier and accused sex trafficker Jeffrey Epstein died by suicide in 2019. A month later, inmate Edwin Cordero died in a fight that broke out inside the prison. The incident prompted a Justice Department investigation assessing whether the Bureau of Prisons had “adequate contingency plans” to address inmate living conditions.

Persons: Sean “ Diddy ” Combs, he’s, ” Michael Cohen, Donald Trump, Cohen, R, Kelly, “, “ Pharma Bro ” Martin Shkreli, Ghislaine Maxwell, Sam Bankman, Ismael “ El, Ismael “ El Mayo ” Zambada Garcia, Combs, Judge Andrew Carter, Jeffrey Epstein, Emery Nelson, ” Nelson, ” Combs, Marc Agnifilo, “ He’s, ” Cohen, Combs ’, Uriel Whyte, Edwin Cordero Organizations: CNN, Miami, Metropolitan Detention Center, “ Pharma, Wap, Ismael “ El Mayo ”, Federal Bureau of Prisons, MDC, of Prisons, Urgent, MDC Brooklyn, Housing Unit, Prisons, New York Times, Department Locations: Los Angeles, “, New York, Brooklyn, Manhattan, New York City, M.D.C . Brooklyn

☆ China would love a domestic Nvidia rival — but that's proving quite the challenge
▼ + stars: | 2024-09-19 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +4 min

The U.S. government has restricted the export of Nvidia's most advanced chips to China since 2022, with restrictions tightening last year. "These companies have made notable progress in developing AI chips tailored to specific applications (ASICs)," Wei Sun, a senior analyst at Counterpoint Research, told CNBC. China's key challengesThe flags of China and the USA are being displayed on a smartphone, with an NVIDIA chip visible in the background. Huawei leading the packTriolo identified Huawei as one of the leaders in China with its Ascend series of data center processors. In its annual report earlier this year, Nvidia explicitly identified Huawei, among other companies, as a competitor in areas such as chips, software for AI and networking products.

Persons: Nvidia's, China's, Wei Sun, Paul Triolo, Albright Stonebridge, SMIC, TSMC, Triolo, Chip IPOs Organizations: Nvidia, CNBC, Huawei, Alibaba, Baidu, Technology, Counterpoint Research, NVIDIA, Nurphoto, Wall Locations: Beijing, wean, China, U.S, USA, SMIC

☆ Boeing says it's going to start furloughing 'a large number' of its white-collar employees amid strike
▼ + stars: | 2024-09-19 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

On Wednesday, Boeing announced it will be temporarily furloughing a "large number" of white-collar employees. The news comes after around 30,000 Boeing workers began a strike on Friday after rejecting a new pay contract. "We are initiating temporary furloughs over the coming days that will impact a large number of US-based executives, managers, and employees," Kelly Ortberg, the CEO of Boeing, wrote in an email to employees. In a union vote on September 12, workers voted against an agreement that Boeing and the labor union for machinists and aerospace workers had proposed. Read the full memo Ortberg sent to employees:Team,As you know, the IAM 751 and W24 went on strike last Friday.

Persons: Kelly Ortberg, Ortberg, It's, furloughs, Kelly Organizations: Service, Wednesday, Boeing, Employees, Business Insider, IAM Locations: Boeing's, Pacific Northwest

☆ Lithuania is the world's happiest place for under 30s, but it's also Europe's suicide capital
▼ + stars: | 2024-09-19 | by ( Joshua Nelken-Zitser | ) www.businessinsider.com time to read: +7 min

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

☆ An elite nutrition coach for Olympians and CrossFitters shares 3 simple things he prioritizes to boost his longevity
▼ + stars: | 2024-09-19 | by ( Rachel Hosie | ) www.businessinsider.com time to read: +3 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewMike Molloy is a nutrition coach to elite athletes and regular folk alike. This story is available exclusively to Business Insider subscribers. Having strong social connections is well-established as an important factor in longevity, and if your friends and family also encourage you to live a healthy life, all the better.

Persons: —, Mike Molloy, Molloy, Sleep Molloy Organizations: Service, Business, Research

☆ Nike is bringing back a long-time exec as CEO — and he could be what the sportswear brand needs
▼ + stars: | 2024-09-19 | by ( Alex Bitter | ) www.businessinsider.com time to read: +1 min

Nike just appointed a new CEO who came out of retirement to take the job. Elliott Hill will take over from John Donahoe in October, Nike said. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The sneaker maker announced that Elliott Hill will be its next president and CEO on Thursday after the stock market closed.

Persons: Elliott Hill, John Donahoe, —, he's, Elliott Organizations: Nike, Service, Business

☆ X users in Brazil temporarily regained access. Elon Musk's company says it was accidental.
▼ + stars: | 2024-09-19 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Read previewElon Musk's X says it accidentally restored temporary access to the social media platform in Brazil on Wednesday, just weeks after it was banned in the country. This story is available exclusively to Business Insider subscribers. This made "blocking the app much more complicated," the country's trade group for internet service providers added. In response, Musk closed X's Brazil offices and refused to comply with an order to name a legal representative in the country. X didn't immediately respond to a request for comment from Business Insider, made outside normal working hours.

Persons: —, Elon Musk's, ABRINT, Basílio Rodriguez Pérez, Pérez, Musk, Alexandre de Moraes, X, Moraes, X didn't Organizations: Service, Global Government Affairs, Business, Brazilian Association of Internet, Telecommunications Providers, BBC, AFP, New York Times Locations: Brazil, Brazilian, Moraes

☆ JPMorgan economist who nailed half-point call sees another big Fed rate cut in November
▼ + stars: | 2024-09-19 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

At its much-anticipated meeting Wednesday, the Fed approved a half percentage point, or 50 basis point, cut to its benchmark funds rate that ran counter to the 25 basis point move that many Wall Street economists and strategists had been expecting. The benchmark fed funds rate now stands at 4.75% to 5.00% after Wednesday's move. Futures market pricing Thursday suggested a 25 basis point move in November followed by a 50 basis point cut in December, according to the CME Group's FedWatch. A basis point equals 0.01%. "Ultimately what we found most important in what Powell said was also among the least surprising things he said: future decisions are going to depend on the data," Feroli wrote.

Persons: Michael Feroli, Feroli, Jerome Powell, Powell Organizations: Federal Reserve, JPMorgan, Fed, Street Locations: U.S

☆ The Fed finally cut interest rates. Here's what comes next.
▼ + stars: | 2024-09-19 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +3 min

The Federal Reserve didn't hold back when it cut interest rates for the first time in more than four years. In a press conference after the announcement, Powell said he believes the economy is moving in the right direction. iStock; BISo what does this rate cut mean for … everything? Our colleagues at Personal Finance Insider have covered the eventual impacts the rate cut will have on various financial products. Let's start with mortgage rates, since that's an area people naturally think of when it comes to interest rates.

Persons: —, Jerome Powell, Powell, you'll, Dan DeFrancesco, Hallam Bullock, Milan Sehmbi, Amanda Yen Organizations: Service, Federal, Business, Finance Locations: New York, London

☆ Investors should be hesitant to dive into stocks after the rate cut, with election uncertainty looming, Fundstrat's Tom Lee says
▼ + stars: | 2024-09-19 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

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

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