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☆ The stock market got just what it wanted from the Fed
▼ + stars: | 2024-09-18 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The Fed just issued its first interest rate cut in four years. AdvertisementStocks got a brief leg up to a new intraday record on Wednesday after the Federal Reserve issued its first rate cut since 2020. "The Fed has given the market what it was looking for with the bigger 50-basis point rate cut," Joel Kruger, market strategist at LMAX Group said in a statement. Here's where US indexes stood at the 4 p.m. closing bell on Wednesday:AdvertisementStocks have historically reacted well to Fed rate cuts. "All we needed today was for Powell to validate market expectations that the Fed is acknowledging the downside risks to the labor market and responding appropriately."

Persons: Stocks, —, Jerome Powell's, Joel Kruger, Morgan Stanley, Kruger, Tom Lee, Priya Misra, Powell, Jason Pride Organizations: Service, Federal Reserve, LMAX, JPMorgan Asset Management Locations: Glenmede

☆ Russia is after more Iranian and North Korean missiles to help it tip the balance in Ukraine, experts say
▼ + stars: | 2024-09-18 | by ( Tom Porter | ) www.businessinsider.com time to read: +3 min

The visit came just days after Shoigu traveled to North Korea for talks with leader Kim Jong Un, and after he met Monday with Syrian leader Bashar Assad. This would mark an escalation in Iran's support for Russia, with the Islamic Republic previously sending aerial drones used by Russia to attack Ukrainian towns and infrastructure. AdvertisementIn recent months, North Korea has reportedly sent millions of shells to Russia, as well as ballistic missiles. UK Foreign Secretary David Lammy said last week that the delivery of Iranian missiles to Russia had changed the debate about Ukraine using Western long-range missiles to strike targets deep inside Russia. Russia is currently making incremental but important advances in its campaign to seize more territory in eastern Ukraine, while Ukraine has occupied parts of Russia's Kursk province, after a surprise attack last month.

Persons: —, Putin, Sergei Shoigu, Ali Akbar Ahmadian, Masoud Pezeshkian, Pezeshkian, Shoigu, Kim Jong Un, Bashar Assad, State Anthony Blinken, Kyrylo Budanov, David Lammy, Keir Starmer, Joe Biden Organizations: Service, Iran's Supreme National Security, Business, Institute for, State, Russia, Islamic Locations: Iran, Ukraine, North Korea, Russia, US, China, Syria, Islamic Republic, Russia's Kursk

☆ Inside Hillwood Estate, a 26,000-square-foot mansion and home of the millionaire businesswoman who built Mar-a-Lago
▼ + stars: | 2024-09-18 | by ( Talia Lakritz | ) www.businessinsider.com time to read: +1 min

Hillwood Estate was the home of breakfast-cereal heiress Marjorie Merriweather Post. Hillwood was Post's fall and spring home — she built Mar-a-Lago and lived there during the winter. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementMarjorie Merriweather Post was once known as America's richest woman, with an estimated net worth of $250 million — around $1.8 billion today when adjusted for inflation. This story is available exclusively to Business Insider subscribers.

Persons: Marjorie Merriweather Post, Hillwood, — Organizations: Service, Post, General Foods Corporation, Maxwell, Business Locations: Hillwood, France, Russia

☆ America is ready to go big on AI infrastructure
▼ + stars: | 2024-09-18 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Its backers have committed to driving the "significant infrastructure investment" needed to make AI more powerful. Critically, the firms behind the fund said these infrastructure investments "will be chiefly in the United States," where it plans to fuel AI innovation and economic growth. It will also fund the energy infrastructure needed to power them. AdvertisementData centers, chip manufacturing plants, and energy supply are all vital for making AI tick. AdvertisementThe headline result was the launch of a new task force on AI data center infrastructure, designed to underscore the vital importance of building out the infrastructure needed to maintain momentum in the generative AI race.

Persons: —, MGX, Brad Smith, Lindsey Wasson, TSMC, Justin Sullivan, Getty, CBRE, Nvidia's Jensen Huang, Sam Altman, Gina Raimondo Organizations: Service, Microsoft, BlackRock, Business, Global Infrastructure Partners, REUTERS, US, Nvidia, Congress, Financial Times, Big Tech Locations: Taiwan, China, United States, Abu Dhabi, Chicago, Northern Virginia, Washington

☆ The more markets price in a jumbo rate cut, the more likely the Fed is to deliver, analyst says
▼ + stars: | 2024-09-18 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +1 min

Traders see heightened odds of a big initial rate cut from the Federal Reserve this week. As markets price in rising odds of a 50 basis point cut, the Fed may be more likely to deliver, BMO's Ian Lyngen says. He says markets pricing an 80% chance of a big rate cut could sway the Fed. AdvertisementInvestors have been pricing in rising odds of a 50 basis point interest rate cut from the Federal Reserve. And as the market increasingly positions for a jumbo cut, the Fed may be more likely to deliver, according to BMO's head of US rates strategy Ian Lyngen.

Persons: BMO's Ian Lyngen, —, Ian Lyngen, we'll, Lyngen Organizations: Federal Reserve, Service, Business

☆ One of Sam's Club's corporate teams is merging with Walmart's. Read the memo announcing the 'big step.'
▼ + stars: | 2024-09-18 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

The corporate supply chain team for Sam's Club is merging with that of its parent company, Walmart. In a memo, Walmart's head of supply chain operations said the move will aid growth. A spokesperson told BI the plan gives Sam's Club better access to resources and job cuts aren't expected. AdvertisementSam's Club's corporate supply chain team is merging into the supply chain team of its parent company, Walmart, according to a memo obtained by Business Insider. "This is a big step in our growth journey, bringing together a supply chain that is future-ready to serve both Sam's Club and Walmart for the long-term," he said.

Persons: —, Walmart's, David Guggina Organizations: Sam's, Walmart, Service, Business, Sam's Club

☆ Food packaging chemicals are seeping into human bodies — here's what that means for your health
▼ + stars: | 2024-09-18 | by ( ) www.businessinsider.com time to read: +1 min

There's new evidence that chemicals can migrate to human bodies via material like plastic containers. It's not clear what the health risks may be, but at least a few of the chemicals are known hazards. 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 . AdvertisementNew research suggests you're being exposed to thousands of chemicals, including hazardous substances, that can leach into the human body through food- and beverage-related material like plastic bottles and takeout containers.

Persons: — Organizations: Service, Business

☆ MrBeast and Amazon hit with class-action lawsuit alleging sexual harassment and dangerous conditions by contestants on 'Beast Games'
▼ + stars: | 2024-09-18 | by ( Hannah Abraham | ) www.businessinsider.com time to read: +1 min

MrBeast and Amazon are facing a class-action lawsuit from contestants on "Beast Games." It alleges that contestants on the reality show suffered sexual harassment, pay issues, and more. 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 . AdvertisementYouTube star MrBeast and Amazon are facing a class-action lawsuit from contestants on the reality show "Beast Games."

Persons: — Organizations: Service, Variety, One's, Business

☆ I paid an extra $114 for a premium ticket on the Alaska Railroad. The value of my 4-hour train ride was incredible.
▼ + stars: | 2024-09-18 | by ( Molly O'Brien | ) www.businessinsider.com time to read: +1 min

I bought a premium ticket for my four-hour ride on the Alaska Railroad from Denali to Fairbanks. My GoldStar premium seat was roomy, the views were great, and I got a three-course meal. The $114 I paid to have this premium ticket instead of the standard one was well worth it. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . One highlight in particular was my four-hour ride on the Alaska Railroad from Denali National Park to Fairbanks.

Persons: — Organizations: Alaska Railroad, Service, Business Locations: Denali, Fairbanks, Alaska

☆ Stock market today: Indexes edge up ahead of major Fed interest rate decision
▼ + stars: | 2024-09-18 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

US indexes edged higher as investors waited for a likely interest rate cut from the Fed. AdvertisementUS stocks rose on Wednesday as traders readied for what's likely to be the Federal Reserves's first rate cut in four years. "Though consensus is leaning toward a 50 basis point move, we look for the Fed to cut by 25 basis points today. AdvertisementFollowing the interest rate decision, all eyes will be on Fed Chair Jerome Powell, who will deliver prepared remarks during a press conference. "While the market has usually bounced immediately following the 2 PM rate decision, the sell-off usually starts at or near the end of Powell's post-FOMC press conference."

Persons: Jerome Powell's, —, John Lynch, José Torres, Jerome Powell, Powell, shouldn't Organizations: Fed, Traders, Service, Federal, Comerica Wealth Management, Interactive, Deutsche Bank, Investment

☆ People say having teenage daughters means they'll hate you, but mine don't. They just need to be heard and have a snack.
▼ + stars: | 2024-09-18 | by ( Cailey Griffin | ) www.businessinsider.com time to read: +4 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Because I'm grounded in myself, I don't try to helicopter parent or take care of their problems for them. I listen and ask questions about their experience, while not inserting my projecting my own opinion or experience onto them. AdvertisementI prioritize apologizing to my daughters when I mess upWhen my daughters were little, I dealt with a period of undiagnosed postpartum depression. Related storiesSociety positions parenting as a hierarchy where parents lean into the idea that "I'm the parent, I'm right, and I get to treat them in certain ways, and they just have to deal with it."

Persons: Allison Tenney, I've, I'm, there's Organizations: Service

☆ The fashion status symbols that will be popular this fall, from $158 hair ties to $4,500 men's bags
▼ + stars: | 2024-09-18 | by ( Amanda Krause | ) www.businessinsider.com time to read: +1 min

Some of the season's biggest status symbols are an $850 suede coat and $168 men's clogs. 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 . Men are sporting expensive hoodies, women are carrying convenient totes from Coach, and everyone with long hair is using flashy golden hair ties. Here's a look at why people love these trendy items and others that are quickly becoming symbols of wealth and status for the autumn season.

Persons: — Organizations: Service

☆ The Fed goes big — a nice jumpstart to lowering mortgage rates and boosting housing plays
▼ + stars: | 2024-09-18 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

The Fed was widely expected to lower short-term interest rates, but the 25 basis points versus 50 debate raged right up until the announcement. Mortgage rates: We talked last week during our September Monthly Meeting about how housing activity can start to pick up when mortgage rates fall off their cycle highs to somewhere in the range between 5% and 6.5%. However, what the data shows is how sensitive activity is to every dip in mortgage rates. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Jerome Powell, Stanley Black, Decker, Mortgage Banks, Jim Cramer's, Lisa Su, Oliver Garden, Jim Organizations: CNBC, ., Federal Reserve, Stanley, Mortgage, Micro, LongHorn, Darden, Jim Cramer's Charitable

☆ Ukraine says it wiped a key Russian missile and artillery arsenal 'off the face of the earth' in long-range strikes
▼ + stars: | 2024-09-18 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

Read previewUkrainian forces used long-range drones to strike a key Russian ammunition depot overnight, destroying missiles, bombs, and artillery. The warehouse was "literally wiped off the face of the earth," the source said, according to a translation of their remarks. AdvertisementAn image of the Toropets facility on September 7. The facility after the Ukrainian attack on Wednesday. A former Ukrainian military officer who goes by the social media handle Tatarigami called the Toropets attack "a very significant achievement."

Persons: —, Russia's, Volodymyr Zelenskyy Organizations: Service, Security Service, Ukraine, Business, Arsenal GRAU, GRAU Arsenal, Defense Forces, Maxar Technologies, Technologies Locations: Toropets, Russia's, Tver, Moscow, Ukraine, Belarus, Tver Oblast, Russia, Ukrainian, Kyiv

☆ Judges keep failing to disclose their trips and gifts. Don't expect it to stop anytime soon.
▼ + stars: | 2024-09-18 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +5 min

"Federal judges are gods, and they can get away with anything," Rahmani said. More than 30 conservative federal justices, members of Scalia's family, and several fellow members of the conservative Federalist Society also attended, ProPublica reported. Earlier this summer, President Joe Biden called on Congress to implement term limits and an enforceable code of ethics for Supreme Court justices. AdvertisementThe nine Supreme Court justices did agree to a code of conduct last year, modeling their new guidelines after the rules that govern federal judges. California Rep. Adam Schiff introduced a bill earlier this year that would expand penalties for federal judges who violate ethics rules.

Persons: —, Aileen Cannon, ProPublica, Cannon, Judge Cannon, America's, Clarence Thomas, Harlan Crow, Samuel Alito, Rahmani, Antonin Scalia, Impeaching, Scott Lemieux, John J, SCOTUS, Joe Biden, Rahamni, Adam Schiff, Lemieux Organizations: Service, Trump, Business, Southern, Southern District of, Supreme, Law and Economics, George Mason University, Federalist Society, University of Washington, Los Angeles litigator Locations: Southern District, Southern District of Florida, Bali, Los Angeles, California

☆ More devices are blowing up in Lebanon a day after Hezbollah pagers fatally exploded
▼ + stars: | 2024-09-18 | by ( Jake Epstein | ) www.businessinsider.com time to read: +1 min

The latest incidents follow deadly blasts Tuesday when pagers belonging to Hezbollah exploded. 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 . AdvertisementHand-held radios exploded across Lebanon on Wednesday, according to multiple reports, potentially signaling a second wave of coordinated attacks targeting personal devices in the Middle Eastern country. The official broadcaster of the Hezbollah militant group, Al-Manar, reported a wave of explosions from wireless devices across Lebanon, according to local and international media.

Persons: pagers, — Organizations: Service, Business Locations: Lebanon

☆ It's a tough time to be a manager in tech
▼ + stars: | 2024-09-18 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +1 min

It's not easy being a manager in the tech industry right now. Meta, Shopify, and other tech firms have also reduced management roles in a bid to boost efficiency. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Go to newsletter preferences Thanks for signing up! AdvertisementManagers may just have the toughest job in tech right now.

Persons: —, Andy Jassy Organizations: Meta, Service, Amazon, Business

☆ Award-winning footage shows a baby tardigrade riding one of its greatest predators in a rare microscopic Wild West scene
▼ + stars: | 2024-09-18 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +4 min

Also known as water bears or moss piglets, tardigrades are waddling eight-legged animals with a reputation for survival. See the video, below, for yourself:This Wild West scene is a bit bizarre, but not totally surprising to experts. "I believe this tardigrade simply encountered the nematode, and it was something it could grasp which is better than flailing around helplessly." He ended up with a nematode and a batch of tardigrade eggs, visible through his microscope. AdvertisementGeldhof got into microscope videography about two years ago, after he started watching several microscope video creators on YouTube.

Persons: —, tardigrade, Sandra McInnes, tardigrades, McInnes, Paul Bartels, Geldhof Organizations: Service, Business, of, Nikon's, British Antarctic Survey, Warren Wilson College, Amazon, YouTube Locations: Winthrop , Massachusetts

☆ Influencers and vloggers are showing off their lives in Saudi Arabia's Neom. It's falling flat.
▼ + stars: | 2024-09-18 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +5 min

Read previewSaudi Arabia's new city of the future, Neom, isn't looking quite so glamorous just yet. A wave of vloggers and micro-influencers have been posting on social media about their lives in the still-developing desert city — and their posts are kind of falling flat. AdvertisementThis publicity image shows a design for "The Line," a part of the planned Saudi Arabian desert megacity in Neom. NeomAnd then there's the reality of what living in Neom currently looks like. The city of Neom did not immediately respond to a request for comment from Business Insider, nor did Herman.

Persons: —, Saudi Arabia's Crown Prince Mohammed bin Salman, Jessica Herman, Herman, It's, Herman who's, vloggers, Sara Sarasid, Aida McPherson, Joshua Hind, Matt Bevan, Herman's, we've, Neom Organizations: Service, Saudi Arabia's Crown, Business, ABC News, BBC, Saudi, Wall, Variety Locations: Saudi, Neom, KSA

☆ The 3 policy issues portfolio managers are most concerned about this election season — including one that wasn't discussed during the debate
▼ + stars: | 2024-09-18 | by ( Christine Ji | ) www.businessinsider.com time to read: +5 min

Read previewFor Wall Street, policy — not politics — is the motto leading up to November. Death and taxesUnsurprisingly, tax policy is at the top of money managers' minds, according to Frank Kelly, senior political strategist at DWS. The filibusterThere's an under-the-radar issue keeping portfolio managers up at night: the elimination of the filibuster, according to Kelly's conversations with clients. Wall Street analysts expect a very close election, and even a minute change could be enough to push the needle on the outcome for either candidate. Given how important gridlock is to the market, there's not enough conversation around the impacts of eliminating the filibuster, Kelly believes.

Persons: —, Kamala Harris, Donald Trump, DWS, Frank Kelly, Harris, Trump, David Bianco, Bianco, Goldman Sachs, Chuck Schumer, Kelly, Monica Guerra, Morgan Stanley, Morgan Stanley Wealth Management's, it's, Jack Ablin, Washington doesn't Organizations: Service, Asset Management, Business, Trump, Jobs, DWS, Wall Street, Morgan Stanley Wealth, Cresset Capital Management, White, Washington, Democrats, Republicans Locations: DWS Americas

☆ A 71-year-old champion sprinter didn't start until she was 57. She shared 4 tips for getting fit at any age.
▼ + stars: | 2024-09-18 | by ( Serafina Kenny | ) www.businessinsider.com time to read: +5 min

Hanna, based in Washington State, told Business Insider that when she got the "god-inspired" urge to start sprinting, she turned to her husband for help. By 2011, Hanna was fast enough to compete in the Washington State Senior Games, a sports competition for people over 50. The next year, she competed at the National Senior Games, which she has done three more times since. Hanna and her coach, Marcus Chambers, after she won gold at the 2024 Senior Games. Hanna won gold in the four by 100 metres with her relay team at this year's National Senior Games.

Persons: —, Madonna Hanna, Hanna, hasn't, Marcus Chambers, it's, you've, Nathan K, Robert, Arlene Kogod, Bryan Goldberg, Mike Molloy Organizations: Service, Business, Washington State Senior Games, National Senior Games, Washington State, British, of Sports Medicine, Aging, Mayo Clinic, Senior Games Locations: Washington State

☆ Sean 'Diddy' Combs shouldn't expect special treatment at a notorious Brooklyn jail that's like 'hell on earth'
▼ + stars: | 2024-09-18 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +5 min

A former warden at the facility told Business Insider that Combs can expect to be treated like any of the other 1,200 inmates at the Brooklyn jail. Advertisement"Any time one is being detained at the Metropolitan Detention Center, it's never going to be a picnic," Cameron Lindsay, the retired warden, told BI. Sean "Diddy" Combs is currently being housed at an infamous Brooklyn jail. "Given his status as a celebrity and a rap star, I would believe, of course, that he would be single-celled and isolated under very austere conditions," Cameron Lindsay told BI. Numerous Courts in this district have raised concerns with the horrific conditions of detention there," Combs' lawyers wrote.

Persons: —, Sean, Diddy, Combs, Kelly, Sam Bankman, Ghislaine Maxwell —, it's, Cameron Lindsay, Mark Bederow, Lucas Jackson, Bederow, Robyn Tarnofsky, Lindsay Organizations: Service, Federal Bureau of Prisons, Metropolitan Detention, Business, MDC Locations: Los Angeles, Miami, Brooklyn, Manhattan, Beverly Hills

☆ Mark Zuckerberg says Apple's culture is very different than Meta's — and the two rivals will be battling on multiple fronts
▼ + stars: | 2024-09-18 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +1 min

Meta and Apple have had a rivalry for years, and Meta's Mark Zuckerberg only expects it to grow. On the "Acquired" podcast, he said Apple will be Meta's "primary competitor" in the next decade. 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 . AdvertisementMeta and Apple have increasingly been rivals, and Mark Zuckerberg only expects their competition to intensify in the coming years.

Persons: Meta's Mark Zuckerberg, Zuck, Apple, —, Mark Zuckerberg Organizations: Apple, Meta, Service, Business

☆ US Marines just added a new long-range missile to their arsenal that will keep their fighter jets out of reach of enemy air defenses during strikes
▼ + stars: | 2024-09-18 | by ( Chris Panella | ) www.businessinsider.com time to read: +1 min

US Marines added a new long-range cruise missile to their arsenal. The AGM-158A joint air-to-surface standoff missile was loaded on an F/A-18 Hornet in late August. The missile can strike targets up to 230 miles, well outside enemy air defenses. AdvertisementThe US Marine Corps has a new long-range weapon in its arsenal, the AGM-158A joint air-to-surface standoff missile (JASSM). The addition is a boost in firepower, the Marines said, as the weapon's long range allows it to strike targets from well outside the reach of enemy air defenses.

Persons: — Organizations: Service, Marine Corps, Marines, Marine Aviation Logistics Squadron, Fighter Attack, Hornet, Business

☆ Bill Gates' daughter says friends have cut her off because of vaccine conspiracy theories about her dad
▼ + stars: | 2024-09-18 | by ( Nora Redmond | ) www.businessinsider.com time to read: +1 min

Phoebe Gates discussed conspiracy theories about Bill Gates in a new Netflix documentary series. 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 . AdvertisementConspiracy theories about billionaire Bill Gates have run rampant online for years, sometimes spilling from the sphere of the internet into his daily life. Many of the most pervasive of these conspiracy theories have linked him to COVID-19.

Persons: Phoebe Gates, Bill Gates, Phoebe, — Organizations: Netflix, Stanford, Service, Business Locations: COVID

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