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ET the yield on the 10-year Treasury was down by over three basis points to 3.7638%. The 2-year Treasury yield was last more than two basis points lower to 3.6289%. U.S. Treasury yields were lower on Tuesday as investors looked ahead to fresh economic data and weighed comments from Federal Reserve Chairman Jerome Powell. On Monday, he indicated that if economic data remained consistent, two more rate cuts could come this year but in smaller, 25-basis-point increments. More Fed policymakers are set to give remarks throughout this week, which investors will be following closely alongside the latest data releases.
Persons: Jerome Powell, Powell Organizations: Treasury, U.S, Federal, Investors, P Global U.S, Manufacturing, ISM, PMI, U.S . Bureau of Labor Statistics, Labor, Survey
US port workers are on strike following the expiration of their labor contract Monday night. The work stoppage at Eastern and Gulf Coast facilities will impact a host of consumer products. AdvertisementUS port workers with the International Longshoremen's Association are on strike following the expiration of their union's contract Monday night. In the latest development of the ongoing labor dispute, the work stoppage at Eastern and Gulf Coast facilities is expected to impact a host of consumer products. Continental Tire, Michelin, and Goodyear are all top importers through East and Gulf Coast ports, Pacula noted.
Persons: , Margaret Kidd, Brian Pacula, West, Tim Ryan, Pacula, Dali, Francis Scott Key, Hurricane Helene, Michael Yamartino, Chris Butler Organizations: Gulf, Service, International Longshoremen's, Conference Board, University of Houston, Walmart, Wall, Jefferies, Continental Tire, Michelin, Goodyear, Port, National Tree Company Locations: Gulf Coast, West Coast, Central, South America, West Monroe, Florida, Peru, Miami, Asia, East, Europe, Baltimore, Hurricane
A September surprise has given bitcoin a head start on a potential run to record highs in the fourth quarter. The cryptocurrency posted a 7.7% gain for September — historically its weakest month of the year — and its best month since May. The month has become known to native crypto investors as "Uptober." … As crypto becomes increasingly correlated with traditional markets, it's expected to be another strong month." Investors expect bitcoin's price will be driven by rate cuts, more inflows into bitcoin ETFs by institutions and clarity following the election.
Persons: Ether, Bitcoin, Jerome Powell, James Davies, " Davies, David Duong, Duong, we've, bitcoin, it's, — CNBC's Michael Bloom, Nick Wells Organizations: U.S, International Longshoremen's Association, Gulf Coasts, bitcoin Locations: U.S, China
BARCELONA, SPAIN - MARCH 01: A view of the MasterCard company logo on their stand during the Mobile World Congress on March 1, 2017 in Barcelona, Spain. (Photo by Joan Cros Garcia/Corbis via Getty Images)Mastercard said Tuesday that it's agreed to acquire Minna Technologies, a software firm that makes it easier for consumers to manage their subscriptions. Minna Technologies, which is based in Gothenburg, Sweden, develops technology that helps consumers manage subscriptions within their banking apps and websites, regardless of which payment method they used for their subscriptions. The company said it works with some of the world's largest financial institutions in the world today. Consumers today often have tons of subscriptions to manage across multiple services such as Netflix, Amazon and Disney Plus.
Persons: Joan Cros Garcia, Corbis, it's, Minna Organizations: MasterCard, Mobile, Congress, Getty Images, Mastercard, Minna Technologies, Visa, Netflix, Disney Plus Locations: BARCELONA, SPAIN, Barcelona, Spain, Gothenburg, Sweden
The 6 ingredients of relationship success
  + stars: | 2024-10-01 | by ( Ian Kerner | ) edition.cnn.com   time to read: +10 min
But was it “emergent love,” a concept that requires certain elements for love to emerge? "Love by Design" details six ingredients for love to emerge: mutual attraction, trust, respect, compassion, shared vision and loving behavior. CNN: You talk a lot about “emergent love.” Can you explain more about that concept? The relationship is based on equity: They give to the relationship and receive from it, too. The six ingredients of emergent love are present, and love emerges as the result.
Persons: Ian Kerner, , ” CNN —, you’ve, Sara Nasserzadeh, Nasserzadeh, you’re, I’m, Dr, Mehdi B, Nik, They’re Organizations: CNN, ” CNN, Grand Central Publishing, Nik CNN Locations: Los Angeles
Learn moreFresh off of last month's presidential debate, JD Vance and Tim Walz will meet tonight to debate and showcase their skills as prospective vice presidents. We've combed through all of the global watch options and identified everything you need to know about how to watch the vice presidential debate, including free streaming options. Keep reading to learn how to watch tonight's debate, including how to live stream the event without cable. How to watch the vice presidential debate in the USThe vice presidential debate will air on CBS on Tuesday, October 1, at 9 p.m. ET/6 p.m. PT in the US. How to watch the vice presidential debate in the UKAs was the case with the presidential debates, the VP debate will be simulcast on BBC News in the UK.
Persons: JD Vance, Tim Walz, We've, Norah O'Donnell, Margaret Brennan, Donald Trump, Vance, Joe Biden, Kamala Harris, Harris, Walz, Fubo, ExpressVPN Organizations: Business, CBS, Longtime CBS, Paramount, DirecTV, CBS News YouTube, Showtime, NFL, Nickelodeon, Comedy Central, BET, MTV, DirecTV Stream, ABC, FOX, NBC, CNN, BBC News, BBC, YouTube Locations: New York, Ohio, Minnesota
CNBC Daily Open: Markets defied expectations last month
  + stars: | 2024-10-01 | by ( Yeo Boon Ping | ) www.cnbc.com   time to read: +2 min
Traders work on the floor of the New York Stock Exchange during morning trading on May 24, 2024 in New York City. This 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. Winning month and quarterU.S. markets rose on Monday to finish a winning month and quarter. While that may remind investors of the 2015 bubble, when the Chinese stock market doubled in value over six months, analysts think things are different this time.
Persons: Tesla, Jerome Powell, Powell, Cerebras, Stocks Organizations: New York Stock Exchange, CNBC, Nikkei, . Federal, National Association for Business Economics, Nvidia, Systems, Nasdaq, CSI, CNBC Pro Locations: New York City, Asia, Pacific, China, Hong Kong, South
Yet investors remain unrelentingly bullish, bidding the US stock market further into uncharted territory. That’s the strongest start to a year since 1997, according to FactSet, when the US economy was surging during the dotcom boom under President Bill Clinton. Kristina Hooper, chief global market strategist at Invesco, said the “very impressive” market performance has been driven by “continued resilience” in the US economy and enthusiasm over Fed rate cuts. US stocks retreated Tuesday after the White House warned that Iran is preparing to launch an imminent ballistic missile attack on Iran. “The Iran report is the thing scaring everyone right now,” said Michael Block, co-founder and chief operating officer at AgentSmyth.
Persons: Bill Clinton, Kristina Hooper, , , Michael Block, hasn’t, Block Organizations: New, New York CNN, Federal, White, House, Tech, Nvidia, CNN Locations: New York, Iran, Taiwan
LONDON — European stocks are expected to kick off October trading in positive territory after ending September on a somber note. The upbeat start to October comes after European stocks closed lower on Monday, with almost all sectors and major bourses in negative territory. Investor focus on Tuesday will be centered on preliminary inflation data from the euro zone for September. Preliminary harmonized German inflation data released on Monday showed the country's consumer price index eased to 1.8% in September, down from 2% in August. Last week, preliminary data showed the harmonized inflation rate in both France and Spain plunged below the ECB's 2% target in September.
Persons: Germany's DAX Organizations: CAC, IG, European Central Bank Locations: France, Spain
Euro zone inflation fell to 1.8% in September, coming in below the European Central Bank's 2% target, flash data from statistics agency Eurostat showed Tuesday. The reading was in line with the expectations of economists polled by Reuters, after annual inflation hit a three-year-low of 2.2% in August. The core inflation rate, which excludes more volatile energy, food, alcohol and tobacco prices, came in at 2.7%. The figures come after September inflation eased below the 2% European Central Bank target in several key euro zone economies, including France and Germany. European Central Bank President Christine Lagarde on Monday said that policymakers were becoming more confident about inflation returning to the 2% target.
Persons: Christine Lagarde, Lagarde Organizations: Central, Reuters, Central Bank, European Central Bank, European Parliament's, Economic, Monetary Affairs Locations: A Coruna, Spain, France, Germany
As investors ponder how — and where — to invest in this uncertain climate, CNBC Pro asked market experts how they are positioning before the year-end. 'Capitalize on the shifting market dynamics' The fourth quarter is starting hot on the heels of central banks' rate easing cycle. "There is an interesting valuation point about U.K. equities, and given recent positive economic surprises that present potential upsides, we feel this is an attractive market." "International investors owning U.K. equities and not hedging the currency, either win on the currency strength gains or win on the equity market." Other markets Beyond the U.K., Hechler-Fayd'herbe sees potential in emerging markets such as Taiwan and South Korea.
Persons: Kevin Teng, Teng, , Europe —, he's, Morgan Stanley, Lombard, Nannette Organizations: Equity, CSI, Treasury, Wrise Private Singapore, CNBC Pro, U.S . Federal Reserve, People's Bank of China, Nvidia, Nasdaq, EMEA, CNBC, Bank of England, International Locations: Asia, East, Europe, Hong Kong, China, U.S, Swiss, Taiwan, South Korea
Morgan Stanley says that Chinese stocks could enjoy a more "sustained rally" in the next phase — beyond a near-term jump — as they ride on the wave of stimulus measures and signals announced last week. They predict at least a 10% rally in the near term , and even more ahead. Against that backdrop, the bank indicated its preference for certain stocks that are set to benefit from easing measures. Stock screens Morgan Stanley did a few stock screens to sieve out those set to benefit. Morgan Stanley says it expected a supplementary budget to be announced in late October, supporting consumption and local government financing.
Persons: Morgan Stanley, Evelyn Cheng Locations: Hong Kong, China
NEBATIEH, LEBANON - SEPTEMBER 28: Smoke rises after Israeli attacks over Shebaa town of Nabatieh province on September 28, 2024. The Israeli air and artillery forces are supporting the offensive, the IDF said. Hezbollah said that claims that Israel had entered Lebanon are "false," reporting no "direct ground clashes," according to a Google-translated statement. Historically sensitive to geopolitical tremors, oil prices have resisted long-term spikes, reined in by the specter of waning global demand and potential supply increases. On its own, this escalation would point to higher oil prices and inflation.
Persons: Ramiz Dallah, Jalaa Marey, Hassan Nasrallah, Yoav Gallant, Lloyd Austin, Israel, Amir Yaron, specter Organizations: Getty Images, Anadolu, Getty, Israel, Israel's Defense Forces, White House, NBC, Brent, Afp, Jewish, Palestinian, Hamas, Israeli, U.S, United Nations, Reuters, Capital, Gulf Cooperation Council Locations: NEBATIEH, LEBANON, Shebaa, Nabatieh, Anadolu, Iran, Lebanon, Israel, London, Galilee, Gaza, Lebanese, Beirut's, U.S, Saudi Arabia
A 37-year-old manager at Microsoft says AI has changed his workflow. I still have a full workloadWhile AI has definitely helped with skipping mundane tasks, that's not exactly what my team's work is focused on. Whatever time I'm getting back from leveraging AI, I'm using it for some other work. Once the developers start writing code for these projects and do the actual work, that's where we leverage AI. So that's why developers are using AI wherever they can to reduce their time, but they are using any time saved for other tasks or other features.
Persons: , Santhosh Reddy, ChatGPT, I've, It's, I'm, it's Organizations: Microsoft, Service, Google Locations: OpenAI
Every workday, on his early-morning drive to his job overseeing a warehouse in northern New Jersey, Sean Murphy takes in the frenetic scene of the busiest port on the East Coast. Towering cranes lift shipping containers off vessels newly arrived at Newark from points around the globe. Mile-long freight trains pull cargo to and from the docks. Belching trucks clatter down the highway, hauling containers to distribution centers from Maine to Florida. Here was a visual encapsulation of the challenge confronting the global economy: cargo marooned, commerce frozen and no clarity on when normalcy will return.
Persons: Sean Murphy, dockworkers, Murphy Locations: New Jersey, East Coast, Newark, Maine, Florida, East Coasts
But there's another clear aim for DirecTV: getting more leverage over content providers. AdvertisementLike all pay-TV providers, DirecTV has been crushed by cord-cutting for the last decade or more. The satellite titan hopes to stem the tide by offering skinnier, genre-based bundles and streaming services at no extra cost, though industry observers doubt those moves can reverse declines. AdvertisementDirecTV may need to fight to surviveDirecTV has a survival plan: It wants to become the ultimate middleman between content providers and consumers. AdvertisementBut there's a space between bullying and collaboration, which is where the relationship between TV distributors and programmers usually stands.
Persons: , Corey Martin, It's, Jon Greer, Venu, Bill Morrow, Morrow, Greer Organizations: DirecTV, Dish, Service, Dish Network, TPG, Disney, ESPN, ABC, Comcast, Granderson Des Rochers's Entertainment Finance, Sports, Hulu
Around 4:45 p.m. Eastern time, bitcoin slid to as low as $60,175. Crypto exchange Coinbase dropped about 1% and bitcoin proxy MicroStrategy lost 2%, after closing lower by 7.4% and 3.5%, respectively. Stock Chart Icon Stock chart icon Crypto assets tumble to start October and the fourth quarterRising tensions in the Middle East dampened investors' risk appetite as the new trading month and quarter began. "Surging unrest across the Middle East has propelled oil prices upward and reinforced the dollar's strength, casting a shadow over bitcoin and other speculative investments," said Chris Kline, chief operating officer and co-founder of Bitcoin IRA. "Meanwhile, a global monetary tug-of-war is unfolding as various central banks slash interest rates and expand their money supplies."
Persons: Jonathan Raa, Cryptocurrencies, bitcoin, Coinbase, MicroStrategy, Hassan Nasrallah, Chris Kline Organizations: Nurphoto, Getty, bitcoin, Metrics, International Longshoremen's Association, Gulf Coasts Locations: Iran, Israel, Iranian, Lebanon
Super Typhoon Krathon, equivalent to a Category 4 Atlantic hurricane, is currently situated in the Bashi Channel in the northern part of the Luzon Strait, between Taiwan and the Philippines. As of 11:30 a.m. local time Tuesday, it had winds of 240 kph (150 mph), according to the Joint Typhoon Warning Center (JTWC). The storm, known locally in the Philippines as Julien, has already lashed the country’s northernmost islands, prompting evacuations and severe flooding in coastal communities. Rescuers help residents as they negotiate floods caused by powerful Typhoon Krathon locally called "Typhoon Julian" at Bacarra, Ilocos Norte province, northern Philippines on Monday, September 30, 2024. Krathon is set to be the second typhoon to make landfall on Taiwan this year, after Typhoon Gaemi struck the island in July, killing 11 people.
Persons: Julien, Julian, Bernie Dela Cruz, , Krathon, Lai Ching, Chen Chi, Sun Li, Typhoon Gaemi Organizations: Taiwan CNN, Super, Typhoon Warning, Philippine News Agency, Central Emergency Operations Center, Weather Administration Locations: Taipei, Taiwan, Philippines, Luzon, Taiwan’s, Kaohsiung, Bacarra, Ilocos Norte, Taiwan’s Hualien
Before we get started, it's important to point out that I believe that broader equity markets remain in a secular bull market with global central banks' easing monetary policy amid a backdrop of a boom in artificial intelligence that carries equity markets significantly higher in coming quarters. But the key in my opinion was that real interest rates were going higher. The way I'm defining 'real interest rates' is the prevailing nominal yield on a bond, the 10-year Treasury in this example, adjusted by the expected 10-year inflation level. Put simply, real interest rates are how much you actually earn on a fixed income investment after adjusting for inflation. So my outlook is that gold will continue to rally alongside equity markets.
Persons: let's, Todd Gordon, Gordon, HMY Organizations: Harmony, Equity, Treasury, Stock, Edge, Inside Edge, CNBC, NBC UNIVERSAL Locations: South
A major stimulus deal coming out of China could offer a windfall for some U.S. stocks with significant ties to the world's second-largest economy, according to Barclays. Against this backdrop, the firm screened for companies with high sales exposure to China and low volatility. Here are some of the potential winners: Barclays named casino and resort operator Wynn Resorts among the beneficiaries of a China stimulus deal, with 48% sales exposure to China. Qualcomm is another winner, with 62% sales exposure to China and the second-highest among the stocks that made the cut. Some underperforming stocks could also benefit from China's stimulus plan, including Albemarle .
Persons: Stefano Pascale, Pascale Organizations: Barclays, Wynn Resorts, Qualcomm, Merck, Western Locations: China, Albemarle
Bangkok AP —A bus carrying young students and their teachers on a school trip caught fire in suburban Bangkok on Tuesday, leaving more than 20 feared dead, officials and rescuers said. Police were still working to identify the dead but three teachers and 20 students remain unaccounted for, Kitrat said. The bus caught fire as it was carrying young students with their teachers in suburban Bangkok. Videos posted on social media showed the entire bus engulfed in a fire with black smoke pouring out of the bus. A woman seen crying after the bus accident that was carrying students and teachers on Vibhavadi Rangsit road at the outskirts of Bangkok.
Persons: Kitrat Phanphet, Kitrat, Sakchai Lalit, , Anocha Takham, Peerapon Boonyakiat, Paetongtarn Shinawatra, Paetongtarn Organizations: Bangkok AP, Acting, Police, patRangsit Hospital, Government, World Health Organization Locations: Bangkok, Uthai Thani, Pathum Thani, Thailand’s, Peerapon, Thailand
AdvertisementMitchell won the NYC housing lottery over a year ago. Molly Stromoski for NYC Department of Housing Preservation and Development"It's damn near as easy as swiping on a dating app. Molly Stromoski for NYC Department of Housing Preservation and DevelopmentTo qualify for an apartment, each household must meet specific income requirements. Applying for the housing lottery is free, but competition is stiff: According to the HPD, on average, there are 450 applications received per rental unit. AdvertisementShe has a piece of advice for those interested in the housing lottery: Apply, apply, apply.
Persons: Ceronne Mitchell, , Mitchell, you'll, Molly Stromoski, Long, Lacey, It's, There's, I'm Organizations: New, Service, NYC Department of Housing Preservation, Department of Housing Preservation, Housing Development Corporation, Development, World Trade Center, Facebook, New York Locations: New York City, Queens, Brooklyn, NYC, New York, Zillow
Asia-Pacific markets are mixed on Tuesday, after Federal Reserve Chair Jerome Powell indicated the recent outsized cuts enacted by the U.S. central bank should not be interpreted as a sign that future moves will be as aggressive. "If the economy performs as expected, that would mean two more rate cuts this year, a total of 50 [basis points] more." The current federal funds rate stands at 4.75%-5%, with the expected additional 50 basis points in cuts set to take the Fed's benchmark interest rate to 4.25%-4.5% at the end of 2024. In Asia, traders will focus on the Bank of Japan's third quarter Tankan survey, which measures the level of business optimism among large Japanese companies. As such, the member said, "the Bank will not raise its policy interest rate when financial and capital markets are unstable."
Persons: Jerome Powell, Morgan Stanley, Ellen Zentner Organizations: Federal, U.S, Bank of, U.S . Federal Reserve, Liberal Democratic Party, Bank, Reuters Locations: Asia, Pacific, Japan
But we are not on any preset course,” he told the National Association for Business Economics in prepared remarks. A basis point equals 0.01%. “We do not believe that we need to see further cooling in labor market conditions to achieve 2 percent inflation,” Powell added. For his part, Powell expressed confidence in economic strength and sees inflation continuing to cool. Broader economic conditions also set the table for further disinflation.”Following the speech, Powell was scheduled to sit for a question-and-answer session with Morgan Stanley economist Ellen Zentner.
Persons: Jerome Powell, , ” Powell, Powell, , Morgan Stanley, Ellen Zentner Organizations: National Association for Business Economics, Committee, Fed Locations: Nashville
Meanwhile in southern Lebanon, an Israeli official told NBC News that Israeli forces had begun launching small special forces operations ahead of a potential ground offensive. People gather outside an apartment building hit by an Israeli strike in Beirut's Cola district on Monday. Thousands of families in southern Lebanon have also been displaced from their homes over the past year due to the cross-border attacks. Families rest on Beirut's corniche after fleeing the Israeli airstrikes in Beirut's southern suburb, Lebanon, on Monday. 'No safe place'Kaisi, the executive director of URDA, said humanitarian workers were "shocked" by the strike in Cola.
Persons: Israel, Kaisi, Fadel Itani, Hassan Nasrallah, Najib Mikati, Beirut's, Hassan Ammar, Fatima, I'm, Nayef Fouani, URDA, Charlotte Gardiner, Israel’s, Organizations: Union of Relief, Development Association, NBC News, Popular Front, Liberation, Residents, Getty, Israel, Hezbollah, Lebanon's, NBC, IDF Locations: BEIRUT, Lebanon, Beirut, Israel, Palestinian, Palestine, Lebanese, Washington, Beirut's Cola, AFP, Iran, Gaza, Beirut's, Cola, Saida, Sidon
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