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☆ CNBC Daily Open: When yields are this high, why buy stocks?
▼ + stars: | 2023-08-23 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

Nathan Howard | Bloomberg | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Typically, stocks — if they do well — tend to return more than a risk-free asset, precisely because it isn't certain stocks will rise. While "the Fed can control short rates," long rates going up can introduce "significant risk" to the economy, such as the recent Fitch downgrade and quantitative tightening. It wasn't a surprise, then, that stock markets fell Tuesday.

Persons: Nathan Howard, yield's, Rupert Thompson, Cash, That's, Bob Pisani, it's, Torsten Slok, Adam Turnquist, Ed Yardeni Organizations: Treasury, Bloomberg, Getty, CNBC, Kingswood Group, Dow Jones Industrial, Nvidia, LPL, Yardeni Locations: Washington , DC

☆ Travelers say these are the best — and worst — airports in North America based on wait times for check-in, customs and more
▼ + stars: | 2023-08-12 | by ( Celia Fernandez | ) www.cnbc.com time to read: +4 min

Every one of the best airports in North America for wait times according to passengers is located in the U.S. The best airport in North America based on wait times: Southwest Florida International AirportThe Southwest Florida International Airport ranked No. The Portland International Airport ranked as the second best airport in North America, according to a Casago report. Nathan Howard | Getty Images News | Getty ImagesThe worst airport in North America based on wait times: Sangster International Airport in JamaicaThe Sangster International Airport is three miles east of Montego Bay, Jamaica. Daniel Slim | Afp | Getty ImagesThe 10 worst airports in North America based on wait times

Persons: Casago, Ronald Reagan Washington, Orlando Sanford, Nathan Howard, Shane Munroe, Daniel Slim Organizations: Southwest Florida International, Florida International Airport, Travel Lens, Google, Fort, Lens, Southwest Florida International Airport, Florida, Portland International, Detroit Metro, Tampa International, Northern Kentucky International, Durham International, Ronald Reagan Washington National, Nashville International, BNA, Orlando, Orlando Sanford International, Chicago Midway International, Centre for Aviation, Power, Associates, Portland International Airport, Getty, Sangster, Jamaica The Sangster, Sangster International, Jamaica Civil Aviation Authority, Jamaica Sun, Cana International, Afp Locations: U.S, North America, Delta, JetBlue, Southwest, Fort Myers, Florida, America, Cincinnati, Raleigh, Oregon, Portland, Jamaica, Montego Bay, Cana

☆ US VP Harris embraces new attack role, draws fresh Republican fire
▼ + stars: | 2023-07-29 | by ( Jarrett Renshaw | ) www.reuters.com time to read: +4 min

FILE PHOTO: U.S. Vice President Kamala Harris meets with Israeli President Isaac Herzog (not pictured) in her ceremonial offices at the Eisenhower Executive Office Building in Washington, U.S., July 19, 2023. Biden credits Black voters for his 2020 victory, with exit polls showing he carried 87% of the vote. His campaign accused another Black Republican who criticized the changes, which include teaching that slavery had possible benefits to the enslaved, of being a Harris supporter. Voters wary of the president’s advanced age of 80 are expected to take a much harder look at the vice president. “We are running against Kamala Harris.

Persons: Kamala Harris, Florida Governor Ron DeSantis, Isaac Herzog, Nathan Howard, Harris, Joe Biden’s, reacquaint Harris, burnish, ’, Biden, Al Sharpton, it’s, DeSantis, Tim Scott, Kamala Harris that’s, Joe Biden, ”, Nikki Hailey, Roe, Wade, Bruce Thompson Organizations: BOSTON, Florida Governor, ”, Eisenhower, REUTERS, Black, National Action Network, Reuters, NBC, Republican, Black Republican, Biden, Fox News, mojo, Democratic National Committee Locations: Iowa, Chicago, Washington , U.S, Boston, United States, –, North Carolina

☆ Recession Odds Just Got Longer
▼ + stars: | 2023-07-27 | by ( Justin Lahart | ) www.wsj.com time to read: 1 min

Federal Reserve Chair Jerome Powell said on Wednesday that the central bank will raise its benchmark interest rate by a quarter-percentage-point, bringing rates to the highest point in 22 years. Photo: Nathan Howard/Associated PressThe U.S. could still enter the recession that economists have been forecasting for over a year now. But as of the second quarter it hadn’t started, and it probably won’t start in the third, either.

Persons: Jerome Powell, Nathan Howard, hadn’t Organizations: Associated Press

☆ US consumer confidence jumps to highest level since July 2021
▼ + stars: | 2023-07-25 | by ( Alicia Wallace | ) edition.cnn.com time to read: +4 min

Minneapolis CNN —High interest rates aren’t souring Americans’ moods: A key measurement of consumer confidence just shot up to a level not seen since July 2021. The Conference Board’s monthly Consumer Confidence Index hit 117 in July, rising from 110.1 the month before, according to new data released Tuesday. The Conference Board’s confidence index and the University of Michigan’s twice-a-month consumer sentiment index are two leading gauges of consumers’ attitudes toward the current and future strength of the economy. Consumer spending, which is a key driver of US economic activity, has eased somewhat in recent months but remains resilient. The Commerce Department on Friday will release the latest data on consumer spending alongside a critical inflation gauge for the Fed.

Persons: ”, Dana Peterson, “, Nathan Howard, ” Ryan Sweet, Chris Rupkey, FwdBonds, Barbie Organizations: Minneapolis CNN —, Conference Board, Washington , D.C, Bloomberg, Getty, University of Michigan’s, Oxford Economics, ‘ Times, Commerce Department, Fed Locations: Minneapolis, Georgetown, Washington ,, Michigan, America

☆ The Supreme Court makes almost all of its decisions on the 'shadow docket.' An author argues it should worry Americans more than luxury trips.
▼ + stars: | 2023-07-07 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +10 min

The Supreme Court makes nearly all its decisions on the emergency relief docket or "shadow docket." What is the Supreme Court 'shadow docket?' Capitol Police watch an abortion-rights rally from behind the security fence surrounding the Supreme Court on June 23, 2022. Public trust in the Supreme Court is at a historic lowNadine Seiler attends a rally for voting rights while the U.S. Supreme Court hears oral arguments in the Moore v. Harper case December 7, 2022. The dangers posed by the shadow docket are more perilous than the wrongs of individual justices, Vladeck argues, because the shadow docket's ills are inherently institutional.

Persons: Steve Vladeck, —, Vladeck, Sonia Sotomayor, Clarence Thomas, John Roberts, Amy Coney Barrett, Neil Gorsuch, Brett Kavanaugh, Scott Applewhite, mifepristone, William Baude, Nathan Howard, it's, Ruth Bader Ginsburg, Anthony Kennedy, Stephen Breyer, Elena Kagan, Ketanji Brown Jackson, Joe Biden's, Chip Somodevilla, Roe, Wade, Obama, Bush, Trump, Nadine Seiler, Harper, Drew Angerer, stokes Organizations: Service, Supreme, Supreme Court, AP, University of Chicago, Capitol Police, Getty, Former, — Locations: United, Joe Biden's State, Texas, U.S, Moore

☆ Nearly all of the Supreme Court's decisions are made on the 'shadow docket.' It poses an even bigger ethical concern than luxury trips and disclosure forms.
▼ + stars: | 2023-07-06 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +10 min

The Supreme Court makes nearly all its decisions on the emergency relief docket or "shadow docket." What is the Supreme Court "shadow docket?" The court's emergency docket is where justices make quick decisions to address emergency relief requests and other procedural matters. But the vast majority of orders that reach the emergency docket are of little interest to the general public. The dangers posed by the shadow docket are more perilous than the wrongs of individual justices, Vladeck argues, because the shadow docket's ills are inherently institutional.

Persons: Steve Vladeck, —, Vladeck, mifepristone, William Baude, Nathan Howard, it's, Ruth Bader Ginsburg, Roe, Wade, Obama, Bush, Trump, Nadine Seiler, Harper, Drew Angerer, stokes Organizations: Service, Supreme, Supreme Court, University of Chicago, Capitol Police, Getty, — Locations: Texas, U.S, Moore

☆ Savers should be cheering higher interest rates. So why are they unhappy?
▼ + stars: | 2023-07-06 | by ( Anna Cooban | ) edition.cnn.com time to read: +6 min

London CNN —When central banks raise interest rates, mortgage borrowers can expect higher monthly repayments, while savers are supposed to be rewarded with bigger returns on their deposits. In Asia, the picture is less uniform: China cut its benchmark lending rate last month, adding to recent reductions in other interest rates, and Japan has kept its main interest rate negative in a bid to stimulate demand. However, rates on savings accounts there are closer to the central bank’s main rate than in other major economies. “While interest rates were ultra-low, the mortgage market was incredibly competitive, so [banks] were operating on unusually small margins between savings rates and mortgage deals… so they’re busy filling their boots,” she said. The top 100 US money market funds tracked by Crane Data are offering an average annual interest rate of 4.94%.

Persons: Nathan Howard, Jeremy Hunt, Sarah Coles, Hargreaves Lansdown, ”, Christopher Furlong, Crane, Peter Crane, they’ve Organizations: London CNN, Federal Deposit Insurance Corporation, US Federal Reserve, Bloomberg, Getty, European Central Bank, of, CNN, Getty Images Bank, Finance, Bank of England’s, HSBC, Barclays, Crane Data, Bank of England, “ Locations: Europe, United States, United Kingdom, Asia, China, Japan, South Korea

☆ Baltimore mass shooting: Investigators searching for suspects in block party shooting that killed 2 and injured 28 others
▼ + stars: | 2023-07-03 | by ( Elizabeth Wolfe Melissa Alonso | Elizabeth Wolfe | Melissa Alonso | ) edition.cnn.com time to read: +5 min

CNN —Investigators in Baltimore are searching for multiple suspects in a mass shooting that launched a beloved annual neighborhood block party into chaos early Sunday, killing two people and injuring 28 others, most of whom were teens, officials said. Baltimore Mayor Brandon Scott said Sunday his office is mobilizing every available resource to assist with the investigation. Residents watch as Baltimore police investigate the site of a mass shooting in the Brooklyn Homes neighborhood on July 2, 2023. The archive, like CNN, defines a mass shooting as one in which four or more people are shot, not including the shooter. Gunfire shatters community festivityMembers of the Kingdom Life Church pray at the site of a mass shooting in the Brooklyn Homes neighborhood on July 2, 2023.

Persons: Mayor Brandon Scott, Aaliyah Gonzales, Kylis Fagbemi, Richard Worley ., Worley, –, Gonzales –, Baltimore Mayor Brandon Scott, Scott, ” “, Nathan Howard, ” Scott, Nick Mosby, ” Mosby, Yvonne Booker, she’s, I’m, I’ve, ” Booker Organizations: CNN — Investigators, Mayor, CNN, Baltimore Police Department, Police, Baltimore Mayor, Baltimore, Brooklyn Homes, Getty, Baltimore City Locations: Baltimore, Brooklyn, Worley, Maryland

☆ Inflation, the Fed and a Major Recession Indicator: 3 Things to Watch
▼ + stars: | 2023-06-12 | by ( Dion Rabouin | ) www.wsj.com time to read: 1 min

E70Debt Ceiling Deadline, Housing and Business Surveys: What to Watch Lawmakers are reaching a critical point in the debt ceiling debate with the June 1 deadline approaching. Investors also get the latest reports on new and pending home sales as well as multiple reports on the health of U.S. businesses. WSJ's Dion Rabouin explains. Photo: Nathan Howard/Reuters

Persons: WSJ's Dion Rabouin, Nathan Howard Organizations: Business, Lawmakers, Investors

The Texas Legislature impeached Republican state Attorney General Ken Paxton on Saturday. Texas state Sen. Angela Paxton sits in the Senate Chamber at the Texas Capitol in Austin, Texas, on May 29, 2023. But the threshold for conviction in the Senate trial is higher, requiring a two-thirds majority of its 31 members. If that happens, Ken Paxton would be permanently barred from holding office in Texas. He had suggested before the House impeachment vote that all 31 senators would vote in the trial.

Persons: Ken Paxton, —, Paxton, Donald Trump, Sen, Angela Paxton, Eric Gay, Speaker Dade, Gov, Dan Patrick, Trump, Patrick, Nathan Howard The, Patrick wouldn't, Austin, Nate Paul, Bryan Hughes, Hughes, Paul, Republican Ken Paxton, NICHOLAS KAMM, Trump's, Republicans didn't, Matt Rinaldi, Paul . Four, US Justice Department's, Paxton's Austin, Phelan, James " Pa, Ferguson, O.P, Carrillo, ___ Bleiberg Organizations: Texas Legislature, Republican, Service, The Texas Legislature, GOP, Chamber, Texas Capitol, Senate, Speaker, AP, Getty, Republicans, Texas Senate, Texas, Washington Post, US Justice, Democratic, FBI, Legislature, Trump, Gov Locations: , Texas, Texas, Austin , Texas, Washington, Dallas

Hours later, the Democratic president said he was confident the legislation would pass both chambers of Congress to avoid a U.S. government default. Biden and McCarthy were due to speak later on Sunday to finalize the agreement, which has drawn fire from hardline Republicans and progressive Democrats. House Republicans expected on Sunday to unveil legislation to pass the deal. But McCarthy dismissed threats of opposition within his own party, saying "over 95%" of House Republicans were "overwhelmingly excited" about the deal. The deal would also impose a 1% across-the-board spending cut should Congress fail to enact 12 appropriations bills by Oct. 1.

WASHINGTON, May 27 (Reuters) - U.S. President Joe Biden and top congressional Republican Kevin McCarthy reached a tentative deal to suspend the federal government's $31.4 trillion debt ceiling on Saturday evening, ending a months-long stalemate. Biden and McCarthy held a 90-minute phone call earlier on Saturday evening to discuss the deal, McCarthy briefed his members later in the evening, and the White House and the House leader spoke afterward. [1/6] General view of the U.S. Capitol after U.S. House Speaker Kevin McCarthy (R-CA) reached a tentative deal with President Joe Biden to raise the United States' debt ceiling and avoid a catastrophic default, in Washington, U.S. May 27, 2023. The long standoff on raising the debt ceiling spooked financial markets, weighing on stocks and forcing the United States to pay record-high interest rates in some bond sales. The work to raise the debt ceiling is far from done.

☆ Republicans question June 1 debt ceiling deadline as talks zero in on potential trade-offs
▼ + stars: | 2023-05-23 | by ( Christina Wilkie | In | ) www.cnbc.com time to read: +4 min

Andrew Caballero-Reynolds | AFP | Getty ImagesWASHINGTON — A significant group of House Republicans raised questions Tuesday about whether the Treasury Department's June 1 deadline to avoid a potential U.S. debt default was accurate. "We'd like to see more transparency on how they come to that date," House Majority Leader Rep. Steve Scalise said Tuesday at a news conference. "We're getting closer," McCarthy told reporters late Monday, adding that the "circle" of issues was becoming "smaller, smaller, smaller." A Republican negotiator, Rep. Patrick McHenry, N.C., told reporters that spending was still the biggest hurdle to an agreement. Rep. Garret Graves, R-La., left, and Rep. Patrick McHenry, R-N.C., speak to reporters about debt ceiling negotiations as they leave the House Republicans' caucus meeting at the Capitol Hill Club in Washington, May 23, 2023.

Persons: Kevin McCarthy, Joe Biden, Andrew Caballero, Reynolds, Steve Scalise, Scalise, Janet Yellen's, Nathan Howard, Biden, We're, McCarthy, Karine Jean, Pierre, Jean, Pierre said, Katherine Clark, Elise Stefanik, Patrick McHenry, Garret Graves, Bill Clark Organizations: White, AFP, Getty Images WASHINGTON, House Republicans, Treasury, Republican, Bloomberg, Getty, CNBC, US, Democratic, Courage for America, Capitol, Getty Images House Republicans, Rep, Republicans, Capitol Hill Club, CQ, Inc Locations: Washington ,, United States, California, Washington , DC, U.S, N.C, R, Washington

☆ Fresh round of debt ceiling talks kick off as US default worries grow
▼ + stars: | 2023-05-22 | by ( ) www.reuters.com time to read: +5 min

A failure to lift the debt ceiling would trigger a default that would shake financial markets and drive interest rates higher on everything from car payments to credit cards. Any deal to raise the $31.4 trillion debt limit must pass both chambers of Congress before Biden could sign it into law. A plan passed by the House last month would cut a wide swath of government spending by 8% next year. Biden has said he would consider spending cuts alongside tax adjustments but that Republicans' latest offer was "unacceptable." McCarthy told reporters debt ceiling talks have not included discussions about tax cuts passed under former President Donald Trump, a Republican.

"Unfortunately, the White House moved backwards," McCarthy said, adding that the "socialist wing" of the Democratic Party appeared to be in control. McCarthy's office did not immediately respond to a request for comment on the White House statement. Democratic President Biden’s proposed 2024 budget and Republicans’ ‘Limit, Save, Grow’ Act will both generate budget savings over a decade, but how they will do so is starkly different. The source also said House Republicans want to extend tax cuts passed under former President Donald Trump, which would add $3.5 trillion to the federal debt. Congressional Republicans voted to raise the debt ceiling three times, with no budget cut pre-conditions, when Republican President Donald Trump was in the White House.

☆ Congressman George Santos Indicted on Federal Fraud Charges
▼ + stars: | 2023-05-10 | by ( Corinne Ramey | James Fanelli | ) www.wsj.com time to read: 1 min

U.S. Rep. George Santos is expected to appear in federal court on Wednesday in Central Islip, N.Y.. Photo: Nathan Howard/Bloomberg NewsRep. George Santos (R., N.Y.) surrendered to federal authorities on Wednesday to face criminal charges that he embezzled contributions, fraudulently obtained unemployment benefits and lied on federal disclosure forms. Mr. Santos, who represents a district on Long Island, is expected to appear in federal court in Central Islip, N.Y., later on Wednesday. An indictment was unsealed charging Mr. Santos with seven counts of wire fraud, three counts of money laundering, one count of theft of public funds, and two counts of making materially false statements to the House of Representatives.

☆ George Santos Faces 13 Felony Charges, Including Fraud and Money Laundering
▼ + stars: | 2023-05-10 | by ( Corinne Ramey | James Fanelli | ) www.wsj.com time to read: 1 min

New York Rep. George Santos surrendered to federal authorities on Wednesday after being criminally charged with fraud. Photo: Nathan Howard/Bloomberg NewsRep. George Santos, accused of fabricating much of his life’s story to secure public office, was indicted Wednesday on federal charges that he embezzled contributions, fraudulently obtained unemployment benefits and filed false federal disclosure forms. The New York Republican, who was elected last year to represent parts of Long Island and Queens in Congress, surrendered to authorities Wednesday morning and pleaded not guilty in federal court in Central Islip, N.Y., in the afternoon. A 13-count indictment charged Mr. Santos with seven counts of wire fraud, three counts of money laundering, one count of theft of public funds, and two counts of making materially false statements to the House of Representatives.

☆ Fugees rapper convicted in US over lobbying campaigns with Malaysian financier
▼ + stars: | 2023-04-26 | by ( Sarah N. Lynch | Thomson Reuters | Sarah N. Lynch Is The Lead Reporter For Reuters Covering The U.S. Justice Department Out Of Washington | ) www.reuters.com time to read: +4 min

REUTERS/Nathan HowardWASHINGTON, April 26 (Reuters) - A jury on Wednesday convicted Grammy Award-winning rapper Prakazrel "Pras" Michel of The Fugees hip hop group on criminal charges that he conspired with a Malaysian financier to orchestrate a series of foreign lobbying campaigns aimed at influencing the U.S. government under two presidents. Low, who also faces separate federal charges in New York that he embezzled $4.5 billion from Malaysia's 1MDB sovereign wealth fund, remains at large. Because federal election law prohibits foreigners from donating to U.S. campaigns, prosecutors said Michel masked the source of the funds. "Once he gave me the money, it was my discretion how I spent the money because it's my money," Michel told the jury, describing the payment as "free money." On whether he failed to register as a foreign agent, Michel told jurors that his attorney George Higgenbotham never told him it was required by law.

☆ The worst bird flu outbreak in US history is 'wiping out everything in numbers we've never seen before.' Here's what you need to know.
▼ + stars: | 2023-04-23 | by ( Bethany Dawson | ) www.businessinsider.com time to read: +4 min

A new strain of bird flu, also known as avian influenza, is spreading across the US. Bill Powers with his flock of white turkeys, kept under shelter to prevent exposure to bird flu, on November 14, 2022 in Townsend, Delaware. And we now have the highest amount of poultry loss to avian influenza, so this is a worst-case scenario," she added. Last week the US Government started testing four new bird flu vaccines to try and protect the poultry from this mass outbreak, per Reuters. Markets are in troubleFarmers and the markets are being hit hard by the ravages of avian flu.

☆ Factbox: 2024 US presidential election: who's in, who's out and who's still thinking about it
▼ + stars: | 2023-04-19 | by ( Ross Colvin | ) www.reuters.com time to read: +7 min

Here is a list of major declared candidates and other potential 2024 hopefuls in both the Democratic and Republican parties. Political analysts say there is little benefit to him jumping into the race too soon, with the election still 19 months away. In the meantime, he can continue to look presidential, although he still has poor approval ratings in opinion surveys. The former Kansas congressman was one of Trump's most loyal lieutenants and initially backed his false claims of a stolen presidential election in 2020. Several of his key staff, though, have recently joined the DeSantis camp, however, suggesting that Youngkin, is not going to run in 2024.

[1/7] U.S. President Joe Biden delivers remarks on childcare and eldercare costs during an event in the Rose Garden at the White House in Washington, U.S., April 18, 2023. Biden signed the order, which includes over 50 specific actions, in the White House Rose Garden, flanked by family caregivers, people with disabilities, older adults and early childhood and long-term care workers. "The executive order doesn't require any new spending. The executive order was also welcomed by AARP, a major lobbying group for older Americans, and the AFL-CIO, the largest U.S. labor organization. Heather Boushey of the White House Council of Economic Advisers (CEA) told reporters that childcare and eldercare shortages and soaring costs limited the ability of many women to work, constraining labor supply and dampening economic growth.

☆ Texas will play an outsized role in selecting the next GOP presidential nominee. So Trump isn't leaving anything to chance.
▼ + stars: | 2023-04-01 | by ( John L. Dorman | ) www.businessinsider.com time to read: +7 min

Trump has previously indicated that he wouldn't leave the 2024 presidential race if he was indicted. Among the bold-named Texas figures who have signed on to Trump's 2024 campaign are Lt. Gov. Greg Abbott, who has been floated as a potential 2024 presidential candidate, was also not on the list. Sen. Ted Cruz of Texas won his home state in the 2016 Republican presidential primary. Cruz took home the lion's share of Texas' GOP delegates in what is a winner-takes-most system.

☆ TikTok CEO set for grilling in House hearing. But U.S. lawmakers also face questions
▼ + stars: | 2023-03-23 | by ( Lauren Feiner | ) www.cnbc.com time to read: +15 min

U.S. tech platforms including Meta's Facebook and Instagram, Google's YouTube , Twitter and Snap's Snapchat have raised similar fears for lawmakers and users. Evaluating a potential banThere's little appetite in Washington to accept the potential risks that TikTok's ownership by Chinese company ByteDance poses to U.S. national security. The interagency panel tasked with reviewing national security risks stemming from ByteDance's ownership has threatened a ban if the company won't sell its stake in the app. Trahan said members should ask about national security risks of the app, but those questions should be substantive. Bowman noted lawmakers haven't received a bipartisan congressional briefing from the administration on national security risks stemming from TikTok.

☆ From $2.5 million yachts to $400,000 in DoorDash bills, here are Sam Bankman-Fried and other execs' wildest purchases with FTX and Alameda funds
▼ + stars: | 2023-03-22 | by ( Pete Syme | ) www.businessinsider.com time to read: 1 min

Since the dramatic implosion of crypto exchange FTX last November, court filings and other reports have revealed the extent of executives' lavish spending habits. Liquidation expert John J. Ray III took over the FTX CEO role from Sam Bankman-Fried to handle the bankruptcy. Nathan Howard/Getty Images; Michael M. Santiago/Getty ImagesBankruptcy lawyers said Alameda "bought planes, houses, threw parties, made political donations" with a $65 billion line of credit at FTX. The vast sums are hard to visualize, but it was partly thanks to this spending that customers have been left out of pocket.

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