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☆ IRS announces 401(k) catch-up contributions for 2025
▼ + stars: | 2024-11-01 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

The IRS has announced new 401(k) catch-up contribution limits for 2025. But catch-up contributions for savers age 50 and older will remain unchanged at $7,500. The IRS also unveiled individual retirement account limits and bigger income thresholds for Roth IRA contributions for 2025. More from Personal Finance:IRS announces new federal income tax brackets for 2025The IRS unveils higher capital gains tax brackets for 2025IRS announces bigger estate and gift tax exemption for 2025Starting in 2025, 401(k) catch-up contributions will be even higher for savers age 60 to 63, thanks to a change enacted via Secure 2.0. The IRS announcement comes roughly one week after the agency unveiled dozens of inflation adjustments for 2025, including federal income tax brackets, higher capital gains brackets, a bigger estate and gift tax exemption, changes to eligibility for the earned income tax credit, among others.

Persons: Roth Organizations: IRS, federal, Savings, Finance, Secure

☆ Biden is beating Trump on stocks. History shows markets do better under Democrats
▼ + stars: | 2024-11-01 | by ( Matt Egan | ) edition.cnn.com time to read: +8 min

The S&P 500 enjoyed a compound annual growth rate of 12.1% from Trump’s surprise election in November 2016 through Biden’s 2020 victory, according to CFRA. “The Trump market was so strong because of a combination of very low inflation, very low interest rates and tax cuts,” said Stovall. The S&P 500’s growth rate under Democrats is 10% compared with 6.7% under Republicans, according to CFRA. In those six years since 1945, where such a dynamic has been in place, the S&P 500 has enjoyed a sizzling growth rate of 16.8%. In fact, the market has generally performed better during times of higher, not lower, tax rates across changes in all three categories, BMO found.

Persons: Donald Trump, Joe Biden, ” Trump, Biden, Sam Stovall, Stovall, Bill Clinton, Kamala Harris, “ Biden, ” Stovall, Trump, Clinton, “, ”, Barack Obama, Hillary Clinton, CFRA, ” Brian Belski, Richard M, Nixon, George W, Bush, . Bush, –, Richard Nixon, Bush –, ” Belski, Gridlock, Harris, BMO’s Belski Organizations: New, New York CNN, Biden’s, CFRA Research, Biden, Trump, Wall, “, Democrats, Republicans, Gross, Democratic, BMO Capital Markets, Clinton, Congress, Investors, Republican, White, BMO Locations: New York

☆ After election volatility markets will rally through year-end, says Hightower’s Stephanie Link
▼ + stars: | 2024-11-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAfter election volatility markets will rally through year-end, says Hightower’s Stephanie LinkHightower’s Stephanie Link, Global Capital’s Greg Branch and Wealth Enhancement’s Ayako Yoshioka, join 'Closing Bell' to discuss the jobs report data, economy and Fed's next moves.

Persons: Stephanie Link, Greg Branch

☆ Bank of Japan likely to stay course with a rate hike in December or January, analysts say
▼ + stars: | 2024-11-01 | by ( Lin Lin | ) www.cnbc.com time to read: +4 min

After a messy election, the Bank of Japan decided to hold its benchmark policy rate at 0.25%, as expected. These outlook risks highlight that the timing of the next BOJ rate hike could depend heavily on developments overseas, as well as the exchange rate and its impact on the Japanese economy, Otani added. He added that it would surpass the 13 trillion yen ($84.6 billion) allocated in last year's supplementary budget. When Ishiba returns, he is expected to hold an extraordinary Diet session, during which he hopes to pass the supplementary budget plan, according to local news. Then I would probably rule out a rate hike in December, because that would create a lot of uncertainty about the fiscal situation."

Persons: Kazuo Ueda, Stefan Angrick, Angrick, Akira Otani, Goldman Sachs, Otani, Marcel Thieliant, Shigeru Ishiba, Ishibia, Ishiba, Thieliant Organizations: Japan, Bank of Japan, Moody's, Liberal Democratic Party, Asia Pacific, Capital Economics, CNBC, Democratic Party Locations: Tokyo, Japan, Brazil

☆ Dozens of Goldman Sachs executives are about to get the call of a lifetime
▼ + stars: | 2024-11-01 | by ( Reed Alexander | ) www.businessinsider.com time to read: +9 min

Goldman Sachs is gearing up to name a new class of partners. AdvertisementAs soon as next week, several dozen Goldman Sachs employees will receive the honor of a lifetime: being named a partner at the prestigious Wall Street bank. "Making partner at Goldman Sachs is a rigorous and competitive process," Tony Fratto, Goldman's head of communications, said in a statement. They can also help direct the bank's philanthropic spending through Goldman Sachs Gives, which the company says has granted $2.5 billion to more than 10,000 nonprofits. Are you a Goldman Sachs insider?

Persons: Goldman Sachs, —, Goldman, David Solomon, Paul Argenti, Morgan Stanley, Tony Fratto, you've, I've, gravitas Goldman, Argenti, they've, Solomon, dealmaking, Goldman's, Russell Horwitz, Reed Alexander Organizations: Service, CNBC, Dartmouth College, Citigroup, Bank of America, Partners, Goldman, Financial, Reading, Investment, BI Locations: New York, London

☆ Dozens of Goldman Sachs executives are about the get the call of a lifetime
▼ + stars: | 2024-11-01 | by ( Reed Alexander | ) www.businessinsider.com time to read: +8 min

Goldman Sachs is gearing up to name a new class of partners. AdvertisementAs soon as next week, several dozen Goldman Sachs employees will receive the honor of a lifetime: Being named a partner of the prestigious Wall Street bank. Advertisement"Making partner at Goldman Sachs is a rigorous and competitive process," Goldman spokesperson Tony Fratto said in a statement. They can also help direct the bank's philanthropic spending through Goldman Sachs Gives, which the company says has granted $2.5 billion to more than 10,000 nonprofits. Are you a Goldman Sachs insider?

Persons: Goldman Sachs, —, Goldman, David Solomon, Paul Argenti, Morgan Stanley, Tony Fratto, you've, I've, gravitas Goldman, Argenti, they've, Solomon, dealmaking, Goldman's, Russell Horwitz, Reed Alexander Organizations: Service, Dartmouth College, Citigroup, Bank of America, Goldman, Financial, Partners, Reading, BI Locations: New York, London

☆ Exploring Sukhothai, Thailand’s first capital
▼ + stars: | 2024-11-01 | by ( Noemi Cassanelli | ) edition.cnn.com time to read: 1 min

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☆ Russia faces a crisis regardless if Putin ends or continues the war in Ukraine, economist says
▼ + stars: | 2024-11-01 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

Russia faces a crisis whether it continues the war or not, economist Alexander Mertens says. War spending has been a major boost to Moscow's GDP growth and wealth, and ending the war will be tricky. If Russia continues the war, the economy looks on track for a "severe recession" and long-running stagnation, Mertens said. "The current state of the Russian economy is far from critical but it does present Putin with a dilemma. The Russian economy is not yet close to collapse, but it is increasingly dependent on wartime conditions and faces growing risks of overheating."

Persons: Alexander Mertens, —, Vladimir Putin, Mertens, Merten, Putin, That's Organizations: Service, Kyiv's International Institute of Business, Ukraine, Atlantic Council, Russian National Welfare Fund, Kremlin, International Monetary Fund Locations: Russia, Ukrainian, Ukraine

☆ Rúben Amorim: Manchester United announce Portuguese coach as team’s new manager
▼ + stars: | 2024-11-01 | by ( Matias Grez | Aleks Klosok | ) edition.cnn.com time to read: +6 min

CNN —Manchester United has announced the appointment of Rúben Amorim as the club’s new first-team head coach, following the sacking of Erik ten Hag. The 39-year-old has also won the Portuguese League Cup twice with Sporting and once with former club Braga in 2020. Sporting said in a statement that United will pay the Portuguese club €11 million ($11.95M) as a release fee to hire Amorim as first-team coach. Under the Dutchman, United won the 2023 League Cup and 2024 FA Cup but has struggled desperately in the Premier League. Familiar territorySix years ago, Amorim completed a week-long internship under then United manager and Portuguese compatriot José Mourinho.

Persons: Rúben Amorim, Erik ten, Amorim, “, ” United, Hag, United, Ruud van Nistelrooy, Justin Setterfield, CNN Sport’s, Amorim –, –, Hansi Flick, Vincent Kompany, Jurgen Klopp’s, David Moyes, INEOS, it’s, ‘ He’s, He’s, ” Pedro Pinto, Gualter Fatia, José Mourinho, he’ll, Bruno Fernandes –, Diogo Dalot, Manuel Ugarte, Fernandes, ”, Patricia de Melo Moreira, it’ll, “ Sir Alex Ferguson, ” Pinto, what’s, ‘ We’re, ’ ” Amorim Organizations: CNN, Manchester United, United, Sporting CP, Sporting, Portuguese League, Braga, ”, €, West, Premier League, Dutchman, Premier League ., League, Former United, Leicester City, Barcelona, Bayern Munich, Liverpool, Anfield, West Ham United, ’, Sports, CNN Sport, Manchester, Arsenal, AFP, Getty, Red Devils, English Premier League, Europa League Locations: Portugal, West Ham, Amorim, Old Trafford, Lisbon – Portugal, Manchester City, Portuguese

☆ Here are Friday's biggest analyst calls: Nvidia, Apple, Amazon, Berkshire Hathaway, Intel, Datadog, Uber & more
▼ + stars: | 2024-11-01 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Citi reiterates Amazon as buy Citi said the e-commerce giant has "multiple catalysts for growth" following earnings on Thursday. Gordon Haskett upgrades Uber to buy from hold The firm said investors should buy the dip in Uber following earnings on Thursday. Goldman Sachs initiates Penguin Solutions as buy Goldman called Penguin a "high performance hardware solutions for enterprise AI at an attractive valuation." Wells Fargo downgrades Estee Lauder to equal weight from overweight Wells downgraded the stock following a disappointing earnings report on Thursday. KeyBanc upgrades Atlassian to overweight from sector weight KeyBanc upgraded the software company following earnings.

Persons: Goldman Sachs, Gordon Haskett, Goldman, Wells, Estee Lauder, it'll, Atlassian, Kinder Morgan, Morgan Stanley, Arista, Datadog, it's, CFRA, Berkshire Hathaway, Jefferies Organizations: Apple, Apple Intelligence, Citi, Amazon, Penguin Solutions, Penguin, Suncor Energy, " Bank of America, Nvidia, Artificial, TAM, Bank of America, UBS, Intel, Mizuho, IDA, Energy Locations: Asia

☆ Election next week holds big implications for stock market, especially the control of Congress
▼ + stars: | 2024-11-01 | by ( Sarah Min | ) www.cnbc.com time to read: +8 min

But the true implications for investors monitoring the election may lie in which party controls Congress, rather than who will sit in the White House. .SPX YTD mountain S & P 500 The importance of whichever party controls Congress was highlighted by Trump's recent trips outside battleground states such as New Mexico , a state that hasn't voted for a GOP presidential nominee in roughly 20 years. On the other hand, Evercore ISI's Emanuel expects a Harris victory, with a Democratic sweep of Congress, could result in the S & P 500 falling to roughly 5,700. The S & P 500 slid 1%, while the Nasdaq dipped 0.5%. Earnings season continues with about 100 S & P 500 companies confirmed to report.

Persons: Donald Trump, Kamala Harris, Trump, Nanette Abuhoff Jacobson, I'm, Abuhoff Jacobson, hasn't, Brian Burrell, Jay Hatfield, Harris, Hatfield, Evercore ISI's Julian Emanuel, Evercore ISI's Emanuel, Jerome Powell's, Ralph Lauren, Warner, Alex Harring Organizations: NBC, Congress, House, Democratic, Republican, Hartford Investments, GOP, Thornburg Investment Management, Infrastructure Capital Advisors, Senate, Wednesday, Regional Banking, Treasury, Federal Reserve, Dow Jones, Nasdaq, National, Marriott International, Diamondback Energy, Wynn Resorts, Palantir Technologies, NXP Semiconductors, PMI, PMI Services, Services PMI, Petroleum, Brands, Technology, Computer, CVS, Howmet Aerospace, Gilead Sciences, Labor, Consumer, Moderna, Molson Coors Beverage, Halliburton, Hershey Co, Warner Bros, Expedia, Akamai Technologies, Paramount Locations: New Mexico, Albuquerque, Santa Fe , New Mexico, Hartford, Albemarle, Qualcomm, Michigan

With evolving workplace priorities, the Workforce Innovation board also predicted which new roles might emerge in the C-suite, including "chief transformation officer" and "chief experience officer." AdvertisementTim Paradis: We've seen new C-suite roles emerge in recent years, like chief AI officer and chief ethics officer. Then, while there is a "chief AI officer" role that's picking up, there is also a lot of focus on automation. Pittman: I think that a lot of these roles — whether it's chief diversity officer, chief risk officer, chief digital officer — are really about building new competencies that are not widely spread. AdvertisementThe number of companies naming chief transformation officers grew about 140% over the last couple of years.

Persons: Maggie Hulce, Julia Hood, Alicia Pittman, Neil Murray, that's, Kenon Chen, Anant Adya, everybody's, Justina Nixon, Saintil, We've, we've, Borgonovo, Tim Paradis, Nixon, It's, Pittman, Chen, isn't Organizations: Business, Workforce Innovation, Boston Consulting, Clear, Infosys, IBM, Saintil, Mastercard

Companies beat expectations, with some boosted by large cloud growth. AdvertisementThe tech giants Meta, Alphabet, Amazon, Apple, and Microsoft reported earnings this week, and investors were laser-focused on the results of AI investments. Cloud is kingMicrosoft, Alphabet, and Amazon saw significant growth in their cloud businesses, fueled by increased demand. Jeremy Goldman, EMARKETER's senior director of briefings, told BI that Microsoft's cloud business had decelerated from the "breakneck pace" of previous quarters. Related storiesWhile Google reported stronger cloud growth, Microsoft still leads it in cloud market share, and both are behind Amazon Web Services.

Persons: —, Kate Leaman, Jeremy Goldman, EMARKETER's, Amy Hood, Dan Romanoff, Andy Jassy, Tracy Woo, Forrester, AWS's, Jassy, Rufus, Sundar Pichai, Pichai, Mark Zuckerberg, Hood, Michael Field, Jaejune Kim, Lisa Su, we've Organizations: Apple, Companies, Service, Microsoft, Amazon, Morningstar, Google, Amazon Web, Amazon Web Services, Investment, Big Tech, Bank of America Securities, Meta, Nvidia, SK Hynix, Samsung, AMD, Services

☆ Amazon CEO Andy Jassy says he has a secret weapon in the AI wars
▼ + stars: | 2024-11-01 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +3 min

Amazon CEO Andy Jassy said AWS gives the company a leg up in the AI race. Jassy said AWS has shown that Amazon can handle the logistics for scaling AI. AdvertisementAmazon CEO Andy Jassy on Thursday explained why he thinks the company is well-positioned to excel in AI: Amazon Web Services. Jassy talked up the cloud-computing unit on Amazon's third-quarter earnings call, defending the company's aggressive investments in AI. Amazon beat Wall Street's third-quarter expectations on revenue and earnings per share, with the stock rising 6% in after-hours trading.

Persons: Andy Jassy, Jassy, —, Sundar Pichai Organizations: Service, Web Services, Amazon, Companies, AWS, Big Tech

☆ Higher taxes will make it harder for Britain to build 'the next Nvidia,' tech execs say
▼ + stars: | 2024-11-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

The lower capital gains tax rate was increased to 18% from 10%, while the higher rate climbed to 24% from 20%. Reeves said the increases will help bring in £2.5 billion ($3.2 billion) of additional capital to the public purses. Still, Reeves said the U.K. would still have the lowest capital gains tax rate of any European G7 economy. watch nowReeves announced that the rate of tax on carried interest, which is charged on capital gains, would rise to 32%, up from 28% currently. She nevertheless urged the government to look seriously at mandating that pension funds diversify their allocation to riskier assets like venture capital — a common ask from VCs to boost the U.K. tech sector.

Persons: Rachel Reeves, Reeves, BADR, Paul Taylor, Taylor, Haakon Overli, Dawn Capital, Overli, Anne Glover, Glover, Clarity, Steve Hare, Sage, Sean Reddington, Reddington Organizations: Labour Party Conference, ACC Liverpool Convention Center, Anadolu, Getty, LONDON, Labour, CGT, National Insurance, Unicorn Council, Nvidia, Dawn, NVIDIA, Amadeus Capital, Wealth, Norway's, Fund Global, Saudi Arabia's Public Investment Fund Locations: Liverpool, British, Britain, VCs

☆ These stocks reporting next week have momentum heading into earnings and are well liked
▼ + stars: | 2024-11-01 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

A handful of stocks have momentum behind them heading into their quarterly results next week. With roughly 64% of S & P 500 companies reporting results thus far, they've collectively posted earnings growth of more than 9%. Analysts have increased their earnings forecasts for DuPont by more than 23% over the past six months and 29% over the past six months. Of all the stocks, analysts are most optimistic on Constellation Energy . Earnings forecasts over the past three months have surged 215%, faster than the 163% increase seen in the trailing six months.

Persons: they've, Wolfe, Chris Parkinson, Parkinson, JPMorgan Chase, Jeremy Tonet, Tonet Organizations: Analysts, DuPont, Constellation Energy, CNBC Pro, Wolfe Research, PFAS, JPMorgan, Howmet Aerospace, Emerson Electric

☆ Watch CNBC’s full interview with Hightower’s Stephanie Link, Global Capital’s Greg Branch and Wealth Enhancement’s Ayako Yoshioka
▼ + stars: | 2024-11-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Hightower’s Stephanie Link, Global Capital’s Greg Branch and Wealth Enhancement’s Ayako YoshiokaHightower’s Stephanie Link, Global Capital’s Greg Branch and Wealth Enhancement’s Ayako Yoshioka, join 'Closing Bell' to discuss the jobs report data, economy and Fed's next moves.

Persons: Hightower’s Stephanie Link, Greg Branch, Yoshioka, Stephanie Link

☆ Amazon shares jump 7%, approach record after earnings beat
▼ + stars: | 2024-11-01 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +3 min

Amazon shares jumped 7% on Friday and neared an all-time high after the company reported better-than-expected earnings, driven by growth in its cloud computing and advertising businesses. Revenue increased 11% in the quarter to $158.9 billion, topping the $157.2 billion estimate of analysts surveyed by LSEG. Sales in the Amazon Web Services cloud business increased 19% to $27.4 billion, coming in just shy of analysts' estimates, according to StreetAccount. That was an acceleration from 12% a year ago, but trailed growth at rivals Microsoft and Google , where cloud revenue increased 33% and 35%, respectively. The midpoint of that range, $185 billion, fell short of the average analyst estimate of $186.2 billion, according to LSEG.

Persons: Roth MKM, Brian Olsavsky, Andy Jassy, Jassy, we're, — CNBC's Ari Levy Organizations: Amazon, Revenue, LSEG, Services, Microsoft, Google, Nvidia, Meta

☆ Sabae: The ‘eyeglasses capital’ of Japan
▼ + stars: | 2024-10-31 | by ( Milly Chan | Karla Cripps | ) edition.cnn.com time to read: +7 min

Among them is the small city of Sabae, in Fukui prefecture, about a 3.5-hour train ride from Tokyo. An eyeglasses sculpture in Sabae, Japan. Fukui prefecture has four stations on the extended Shinkansen line – Awara Onsen Station, Fukui Station, Echizen-Takefu Station and Tsuruga Station. (Travelers can hop on a separate train from Fukui Station for the 15-minute ride to Sabae.) GI15702993/iStockphoto/Getty ImagesIn addition to being home to the eyeglasses capital of Japan, Fukui prefecture is filled with well-preserved ancient architecture, historic sites and temples, as well as newer attractions, including Nishiyama Zoo, famed for its red pandas.

Persons: Buddhika Weerasinghe, Sabae, Takeshi Yamae, “, ”, Futa Nagao, Takeshi, Sabae’s, It’s, There’s, sakura, Soto, you’re Organizations: CNN, CNN —, Bloomberg, Getty, Boston Club, Sabae’s Megane, Asahi Shimbun, Fukui, Takefu, Tsuruga, Nishiyama Zoo, Fukui Prefectural Dinosaur Museum, Soto Zen, Food, Museum Locations: Sabae, Fukui prefecture, Tokyo, Japan, Honshu, Fukui, Japan’s Hokuriku, Toyama, Niigata, Ishikawa, Kyoto, Echizen, Maruoka, Tojinbo, Mikata, Wakasa, Tsuruga

SEOUL, South Korea — North Korea test-fired a suspected long-range ballistic missile that is designed to strike the continental United States, its neighbors said Thursday, days before the U.S. presidential election. This would be the first ICBM launch since December for North Korea, a reclusive nuclear-armed state that has been ratcheting up its rhetoric against the U.S. and its allies South Korea and Japan. Japanese Defense Minister Gen Nakatani later said the missile fell into the sea off North Korea’s east coast around 8:37 a.m. He said the launch time of 86 minutes would be the longest ever for a North Korean missile test, and that it could be a new type of missile. North Korea has said the deployment is a “rumor,” while Russian President Vladimir Putin did not deny the reports when asked about them by NBC News last week.

Persons: Gen Nakatani, Sean Savett, ”, Vladimir Putin, Lloyd Austin, Kim Yong, Austin, Stella Kim, Arata Yamamoto, Jennifer Jett Organizations: U.S, Korea’s, Chiefs, Staff, Japanese, Korean, National Security, United Nations, Pacific Command, South Korea’s Defense Intelligence Agency, Officials, NBC, Defense, Ukrainian Locations: SEOUL, South Korea, North Korea, United States, Japan, Pyongyang, U.S, Korea, Moscow, Russia’s Far, Ukraine, The U.S, Russia, Washington, Korean, Seoul, Oshu City, Hong Kong

☆ Intel shares jump 9% on earnings beat, uplifting guidance
▼ + stars: | 2024-10-31 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Intel shares rose 9% in extended trading on Thursday after the chipmaker reported better-than-expected earnings and issued quarterly guidance that topped estimates. Intel called for fiscal third-quarter adjusted earnings of 12 cents per share and revenue between $13.3 billion and $14.3 billion. Analysts had expected 8 cents in adjusted earnings per share and $13.66 billion in revenue. During the quarter, Intel announced the launch of Xeon 6 server processors and Gaudi artificial intelligence accelerators. As of Thursday's close, Intel shares were down about 57% in 2024, while the S&P 500 index had gained 20%.

Persons: Pat Gelsinger, Dave Zinsner, Gaudi, Harvest's Paul Meeks Organizations: Intel, CNBC, Qualcomm, Computing, StreetAccount, Revenue, Data Center Locations: Taipei, Taiwan

☆ Amazon crushed it in e-commerce and cloud, forecast an impressive holiday quarter
▼ + stars: | 2024-10-31 | by ( Jeff Marks | ) www.cnbc.com time to read: +9 min

Amazon reported a much better-than-expected third quarter Thursday, with strong growth across online sales, its cloud business and advertising. Commentary Cloud unit Amazon Web Services (AWS) revenue in the third quarter was essentially in line with the consensus forecast. Growth on a constant currency basis held steady from the second quarter at 19%, breaking a three-quarter streak of accelerating revenue growth. Quarterly results As for the rest of the company, Amazon delivered revenue beats across Online Stores (7% revenue growth), Subscription Services (11% revenue growth), and Advertising Services (19% revenue growth). Smaller businesses like Physical Stores (5% revenue growth) and Other (7% revenue growth) were better than expected too.

Persons: Andy Jassy, Jassy, it's, Kuiper, That's, Jim Cramer's, Jim Cramer, Jim, Nathan Stirk Organizations: Amazon, LSEG, Management, Walmart, Target, Microsoft, North America, International, Web Services, AWS, Subscription Services, Advertising Services, Seller Services, CNBC, Getty Locations: North, North America, United Kingdom, Germany, Sutton Coldfield, England

☆ Switzerland is now flirting with deflation, causing a dilemma for its central bank
▼ + stars: | 2024-10-31 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +4 min

Urbazon | Istock | Getty ImagesSwitzerland could be at risk of slipping into deflationary territory next year, as a stronger Swiss franc beleaguers policymakers' efforts to get a handle on price growth. The central bank also revised down its forecasts, putting the average annual inflation rate for 2024 at 1.2% from 1.3%, while projecting price increases will grow by 0.6% in 2025, compared with a previous outlook of 1.1%. Foreign exchange (FX) interventions take place when a bank buys or sells its currency in the FX market to raise or lower its value against another currency. Swiss inflation has meanwhile continued to fall. In March, with inflation at 1.2%, the SNB become the first major Western central bank to cut interest rates.

Persons: Thomas Jordan, Adrian Prettejohn, Sophie Altermatt, Julius Baer, Prettejohn, Jordan Organizations: Istock, Getty, Swiss National Bank, Capital, Capital Economics, CNBC, FX Locations: Bern, Switzerland, Adrian Prettejohn Europe, Europe

☆ Mark Zuckerberg flexes that Meta's cluster of Nvidia H100 chips is bigger than the competition
▼ + stars: | 2024-10-31 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +3 min

Mark Zuckerberg says Meta's Llama 4 AI models are training on the biggest GPU cluster in the industry. During Meta's earnings call, he said the cluster is "bigger than 100,000 H100s." A lot of computing power is going into training Meta's forthcoming Llama 4 AI models — more than anything currently offered by the competition, according to Zuckerberg. Zuckerberg added in the earnings call Wednesday that Meta's Llama 4 models will have "new modalities, capabilities, stronger reasoning" and be "much faster." Meanwhile, Musk tweeted earlier this week that xAI will soon double its cluster size in the coming months to 200,000 H100 and H200 chips.

Persons: Mark Zuckerberg, Elon Musk, —, Mark Zuckerberg's, Zuckerberg, I've, Hopper, Aravind Srinivas, Srinivas, didn't, Musk, xAI Organizations: Service, Nvidia, Meta Locations: Meta

☆ Watch CNBC’s full interview with NewEdge Wealth's Cameron Dawson, Capital Area Planning’s Malcolm Ethridge and Requisite’s Bryn Talkington
▼ + stars: | 2024-10-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with NewEdge Wealth's Cameron Dawson, Capital Area Planning’s Malcolm Ethridge and Requisite’s Bryn TalkingtonNewEdge Wealth's Cameron Dawson, Capital Area Planning’s Malcolm Ethridge and Requisite’s Bryn Talkington, join 'Closing Bell' to discuss the markets, mega cap earnings and the month-end sell-off.

Persons: NewEdge Wealth's Cameron Dawson, Malcolm Ethridge, Bryn, Bryn Talkington Organizations: Capital

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