DIRS.INFO The most relevant business & tech news

☆ ‘Billions’ of golf balls could be lost every year. Where do they end up?
▼ + stars: | 2024-09-19 | by ( Jack Bantock | ) edition.cnn.com time to read: +20 min

Found Golf Balls CEO Shaun Shienfield, whose company recovers and resells millions of lost balls across the US and Canada each year, told CNN that he gauged the average to be between three and four each round. Using Shienfield’s low estimate, that’s over 1.5 billion balls lost in the US every year since 2020. “While precise global estimates are challenging … the worldwide figure could easily exceed 3 to 5 billion golf balls lost each year,” Petersen told CNN. Mitchell Schols, founder of Canada-based Biodegradable Golf Balls, put a “very conservative” estimate for North America at one million balls lost to oceans annually. One UK-based man told CNN in 2015 that he could earn up to £100,000 (about $114,000) annually by diving to retrieve golf balls from lakes on golf courses.

Persons: Woods, Jonathan Ferrey, Shaun Shienfield, Torben Kastrup Petersen, ” Petersen, Loch, Cam Bauer, fairways, Jae C, Paula Gallani, Jack Taylor, Bonifas, Paul Barker, Alex Livesey, Josh Noel, Richard Heathcote, Sam Greenwood, Mohammed Afzal Abdul Afghanistan'shas, Mohammed Afzal Abdul, Shah Marai, Africa's, Alf Caputo, Mi Jung Hur, Michael Cohen, Matthew Savoca, Davis, Alex Weber, Savoca, Weber, Jack Johnston, Ezra Shaw, ” Savoca, “, there’s, ”, Mitchell Schols, Petersen, Kevin C, Cox, Schols, Albus Golf, ” Schols, Jared C, Tilton, “ I’m Organizations: CNN, United States Golf Association, National Golf Foundation, Danish Golf Union, La, Don Mueang International Airport, Getty, Chicago Tribune, Tribune, Service, La Paz Golf Club, AFP, Soviet Army, Kenya, Ladies European, Indy Women, Tech, University of California, Carmel High School, Monterey Bay National, National, Canada, North America, “, USGA, Pebble Beach Resorts Locations: Pebble Beach , California, Stillwater, Monterey , California, Canada, Greenland, Norway, Hawaii, France, Bangkok, Don, AFP, North, South Korea, Washington, Uummannaq, Coeur D'Alene, Death Valley , California, South Carolina, Bolivia, Kabul, Kenya, Australia, Ceduna, Kalgoorlie, Monterey Bay, Pebble Beach, Cypress Point, Carmel, California, Monterey, Japan, England, Germany, America, –, Spanish, London, Florida

☆ North Korea says it tested new ballistic missiles with super-large warhead
▼ + stars: | 2024-09-19 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +3 min

SEOUL, South Korea — North Korea tested new tactical ballistic missiles using super-large warheads and modified cruise missiles on Wednesday as leader Kim Jong Un called for stronger conventional weapons and nuclear capabilities, state news agency KCNA reported. The account followed the firing of multiple short-range ballistic missiles on Wednesday reported by the South Korean military, which was the second time the North test-launched missiles in a week. Last week, North Korea also unveiled a uranium enrichment facility, in its first such public report. Wednesday’s tests involved the new tactical ballistic Hwasongpho-11-Da-4.5 missile, KCNA said, indicating it was part of a series of short-range ballistic missiles it had been developing. The allies say the drills are defensive in nature and aimed at maintaining readiness against any North Korean aggression.

Persons: Kim Jong, KCNA, Kim, ” KCNA, Shin Seung, Shin, ”, Kim Jong Un Organizations: South Korean, Korea Institute for Defense, Getty Images Kyiv Locations: SEOUL, South Korea, North Korea, South, Seoul . North Korea, Russia, Ukraine, North Korean, Moscow, Pyongyang, U.S

Surveys indicate that health care is among the top priorities for voters in the November presidential election. Former President Donald Trump has given little detail about his health care vision; his running mate, JD Vance, has suggested deregulation. Each country was graded on five categories: access to care, care process, administrative efficiency, equity and health outcomes. “For far too many people, high-quality medical care is out of reach.”Dr. Adam Gaffney, a critical care physician at the Cambridge Health Alliance in Massachusetts, pointed out that the U.S. differs from the other countries in one critical area: universal health care coverage. Thursday’s report also listed solutions to the country’s health care problems, including lowering the cost of care and expanding access to coverage.

Persons: Kamala Harris, Donald Trump, JD Vance, ” Dr, Joseph Betancourt, David Blumenthal, “, ”, ” Blumenthal, Lawrence Gostin, Gostin, ” Gostin, Dr, Adam Gaffney, ” Gaffney, Reginald Williams II Organizations: U.S, Commonwealth Fund, Affordable, Australia, New, Centers for Disease Control, O’Neill Institute for National, Global Health Law, Georgetown University, United, Cambridge Health Alliance, Fund, International Health Locations: U.S, United States, Australia, Canada, France, Germany, Netherlands, New Zealand, Sweden, Switzerland, United Kingdom, Massachusetts

☆ 9 cities where lower mortgage rates are actually pushing home prices more than 10% higher
▼ + stars: | 2024-09-19 | by ( Christine Ji | ) www.businessinsider.com time to read: +3 min

Read previewHomebuyers may have breathed a premature sigh of relief last month when mortgage rates dropped. In the last six weeks, mortgage rates have fallen over half a percentage point to 6.2%, according to Freddie Mac. AdvertisementAccording to Redfin Senior Economist Sheharyar Bokhari, prices are increasing because the drop in mortgage rates has spurred demand for houses while supply remains low. Year-over-year, prices rose in almost every one of the top 50 metro areas. Below are the 9 cities where home prices have risen the most in the last year, increasing at double-digit rates.

Persons: —, Freddie Mac, it's, Sheharyar, Bokhari, Skylar Olsen, homebuyers, Olsen, Austin — Organizations: Service, Fed, Business, Redfin Locations: San Antonio

"Ultimately shirking fiduciary responsibility to employees, consumers, and shareholders." Twenty civil rights organizations sent a letter Thursday to Fortune 1000 companies calling for them to recommit to diversity, equity and inclusion, after several major companies scaled back their efforts. She emphasized that LGBTQ+ consumers have $1.4 trillion of buying power, as reported by the National LGBT Chamber of Commerce. But a small, well-funded, and extreme group of right-wing activists is attempting to pressure companies into abandoning their DEI programs. Abandoning DEI will have long-term consequences on business success -- ultimately shirking fiduciary responsibility to employees, consumers, and shareholders.

Persons: Bill Ackman, Molson Coors, Harley Davidson, George Floyd, Forman, Kelley Robinson, CNBC's, Robinson, Brown, Lowe's, John Deere, Harley, Davidson, Edelman Organizations: National Action Network, Molson, Ford, Tractor Supply, Human Rights, HRC, Brown, National LGBT Chamber of Commerce, Molson Coors, . Tractor Supply, Companies, McKinsey & Company, Pew Locations: New York City, Rural, United States

☆ 'We can’t allow the cultural infrastructure to literally crumble': One of London's most popular arts attractions needs a $200 million fix
▼ + stars: | 2024-09-19 | by ( Lucy Handley | In | ) www.cnbc.com time to read: +7 min

The exterior of the Hayward Gallery, part of the Southbank Centre. "We can't allow the cultural infrastructure to literally crumble in our hands, because ... without investment, it won't be here," Ball told CNBC. (The neighboring National Theatre and British Film Institute Southbank are not part of the Southbank Centre.) During his first year at the Southbank Centre, he oversaw more than 5,400 events and shows. "Thinking Fountains," an installation by German artist Klaus Weber, outside the Hayward Gallery at the Southbank Centre.

Persons: Norman Engleback, Michelle Obama, Anish Kapoor, Tracey Emin, Nina Simone, Elaine Bedell, Mark Ball, —, Ball, Queen Elizabeth Hall, Purcell, Jack Taylor, Lisa Nandy's, it's, Richard III, Antony Sher, Antony, Gilbert Prousch, George Passmore, Gilbert, George, Marina Abramovic, Elizabeth Hall, Daniel Leal, Igor Levit, Cillian Murphy, Klaus Weber Organizations: Hayward, Southbank Centre, Universal, Getty, Southbank, Conservative, Labour, CNBC, Royal Festival Hall, Queen, National Theatre, British Film Institute, Former U.S, Royal, Hall, Manchester International, Association of, of Britain, Apple, London's Southbank, Ball, Science and Industry, Royal Shakespeare Company, AFP, Artists, Royal Philharmonic Orchestra Locations: London, Manchester, Serbian

☆ Trump Media stock drops as lockup expiration set to give the former president clearance to sell shares
▼ + stars: | 2024-09-19 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Shares dropped as much as 4% as a lockup period was set to expire. Following the lockup, Trump can dump his shares, though he's said he wouldn't sell. AdvertisementTrump Media & Technology Group shares dropped to their lowest level since the company went public earlier this year as a lockup period preventing insider selling was set to expire. The company went public in March, with shares spiking to all-time highs above $70 shortly after, before steadily declining in the following months. AdvertisementOnce the lockup period is over, the Republican presidential candidate has the all-clear to start selling his stock.

Persons: Trump, he's, — Organizations: Trump Media, Service, Trump Media & Technology Group, CNBC, Republican

☆ Ron Insana: Federal Reserve chair Jerome Powell unnecessarily complicated the outlook for interest rate policy
▼ + stars: | 2024-09-19 | by ( Ron Insana | ) www.cnbc.com time to read: +4 min

In the spirit of ESPN's Monday Night Countdown, a word to Federal Reserve Chairman, Jay Powell ... "C'Mon Man!" While the markets have rebounded nicely on Thursday, it seems to me that Federal Reserve chair Jay Powell unnecessarily complicated the outlook for interest rate policy on Wednesday by saying the Fed will decide, meeting by meeting, what to do next. Meanwhile, long-term interest rates, after having fallen for weeks in anticipation of a half-point cut, which the Fed delivered, have actually moved up a bit. I'm not entirely certain but I suspect it's the lack of clear direction on future rate policy that is the culprit. In those days, the Fed was loathe to discuss its actions publicly and only signaled to markets what it had done with respect to interest rate policy a considerable time after the action was undertaken.

Persons: Jay Powell, Powell, Paul Volcker Organizations: Federal, Fed Locations: China

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

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

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

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

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

☆ Stocks making the biggest moves after hours: Nike, FedEx, Lennar and more
▼ + stars: | 2024-09-19 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Check out the companies making headlines in extended trading: Nike — Shares soared 10%. Nike veteran Elliott Hill, who had been at the company for 32 years before retiring in 2020, will take the helm. FedEx reported adjusted earnings per share of $3.60 on revenue of $21.58 billion, while analysts polled by LSEG were looking for $4.76 per share in earnings and $21.93 billion of revenue. MillerKnoll reported adjusted earnings per share of 36 cents on revenue of $861.5 million. Lennar reported earnings of $4.26 per share on revenue of $9.42 billion.

Persons: John Donahoe, Elliott Hill, LSEG, MillerKnoll, Lennar, Chewy, Buddy Chester, — Organizations: Nike —, Nike, FedEx —, FedEx, FactSet, Buddy Chester Sub LLC, BC Partners

☆ Stocks making the biggest moves midday: Tesla, Mobileye Global, Darden Restaurants and more
▼ + stars: | 2024-09-19 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in midday trading: Tech stocks — Key tech names rallied a day after the Federal Reserve's supersized rate cut decision. Coursera — The online education platform jumped more than 8% on the back of Bank of America's initiation at a buy rating. Uber shares rose 3%. NextEra Energy Partners — The stock rose more than 3% on the heels of Jefferies initiating coverage with a buy rating. Crypto stocks — Stocks tied to bitcoin's price climbed as the cryptocurrency moved more than 4% higher following the Fed's rate cut on Wednesday.

Persons: Tesla, Meta, Coursera, Uber, DoorDash, Jefferies, Stocks, MicroStrategy, Alibaba, Alex Harring, Samantha Subin, Lisa Kailai Han, Pia Singh, Michelle Fox Organizations: Tech, Federal, Nvidia, Therapeutics, Intel, Bank of, Darden, DoorDash, NextEra Energy Partners, JPMorgan Locations: Mobileye, Olive

$ 5.34 $ 5.34 Estimated Environmental cost + $ 22.02 Say a pound of beef costs $5.34 at your local supermarket. The Hidden Environmental Costs of Food Damage to the natural world isn’t factored into the price of food. The proponents of true cost accounting don’t propose raising food prices across the board, but they say that increased awareness of the hidden environmental cost of food could change behavior. (True cost accounting also typically includes things like labor rights and dietary health, but here we’re focusing on environmental costs.) Large disparities between the retail price of food and its environmental costs are found in the proteins many of us eat every day.

Persons: True Price, ”, Claire van den Broek, “ They’re, Alexander Müller, True, “, Scott Swinton, Roger Cryan, Mario Herrero, chickpeas Organizations: United Nations, Rockefeller Foundation, True, Sustainability, Michigan State University, American Farm Bureau Federation, New, Cornell University, Price, Beef, Oxford University, “, U.S . Department of Agriculture, Mountain, United Nations Food, Agriculture Organization Locations: Dutch, United States, Berlin, New York State, Denmark, Walmart.com, U.S, North America, Europe, Brazil, India, Netherlands, Germany

☆ The Fed is following its 1995 playbook — and that's great news for stocks and the economy
▼ + stars: | 2024-09-19 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The Fed looks like it's following the same path it did in 1995, according to TS Lombard. It's also great news for stocks, as the S&P 500 more than doubled in value that decade. AdvertisementThe Fed is following a 30-year-old playbook with its interest rate moves — and that's good news for the US economy, according to TS Lombard. Stocks soared a day after the big rate cut. Despite wobbling in the hours after the Fed's rate move, the major indexes hit fresh records in Thursday trades.

Persons: It's, —, Dario Perkins, Perkins, Stocks Organizations: TS Lombard, Service, Fed, American Institute for Economic Research, Cleveland Fed

☆ JetBlue is fixing its business class' biggest weakness by building its own airport lounges
▼ + stars: | 2024-09-19 | by ( Benjamin Zhang | ) www.businessinsider.com time to read: +4 min

Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The new lounges, the first of which are set for New York's JFK International and Boston Logan International, are part of the New York-based carrier's continued push to bolster its premium Mint business class experience. AdvertisementThat changed in 2016 when the airline launched its first Mint premium business class cabin with lie-flat seats. Loyalty is big business for airlinesFor the airline industry, loyalty extends beyond the benefits of return business. With the new lounges in its arsenal, the airline will be better positioned to keep loyal customers coming back.

Persons: —, carrier's, Marty St, George, Jayne O'Brien, Leonard Zhukovsky, O'Brien, Thomas Pallini Organizations: Service, JetBlue Airways, New York's JFK International, Boston Logan International, JetBlue, Jetblue, Business, JFK, Mint, JetBlue's Mint, American Airlines Admirals Club, Northeast Alliance, Airlines ' Admirals Club, Delta, American Express, American Airlines, Citi Locations: York, New York, Boston

☆ Melinda French Gates says CEOs who cut sleep to maximize productivity are 'so dumb': 'Some of us didn't want to be around them'
▼ + stars: | 2024-09-19 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +2 min

Melinda French Gates believes it's "so dumb" to try and maximize productivity by getting only a few hours of sleep. French Gates said, referencing CEOs and tech entrepreneurs who promote, in her eyes, a form of performative sleep deprivation. He's since changed his tune, and now aims for at least six hours of sleep per night, he told CNBC last year. Amazon founder Jeff Bezos and Microsoft co-founder Bill Gates — French Gates' ex-husband — have shared similar stories. Now, he aims for a minimum of seven hours of sleep each night, he said.

Persons: Melinda French Gates, she's, Gates, who've, Indra Nooyi, Donald Trump, Marissa Meyer, Elon Musk, Tesla, I've, Musk, Jeff Bezos, Bill Gates, —, Bezos Organizations: PepsiCo, Former U.S, CNBC, Microsoft Locations: Former

☆ Bitcoin and crypto stocks rise after the Fed cuts rates by half a percentage point
▼ + stars: | 2024-09-19 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

The price of bitcoin was recently higher by 3.5% at $62,417.48, according to Coin Metrics, building on a rally underway before the central bank decision Wednesday. Stocks tied to the price of bitcoin climbed in early trading Thursday. MicroStrategy , widely used as a high beta play on the price of bitcoin, gained 5%. It isn't out of the woods yet, however, said Yuya Hasegawa, crypto market analyst at Japanese bitcoin exchange Bitbank. "Bitcoin has some time until the BOJ makes the decision and could extend its gain during Thursday's U.S. session.

Persons: bitcoin, Stocks, Yuya Hasegawa, Bitcoin Organizations: Metrics, Federal Reserve, Nasdaq, Bank of, Thursday's U.S

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

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

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

☆ Opinion | The Fed’s Big Rate Cut Wasn’t Political. It Was an Economic No-Brainer.
▼ + stars: | 2024-09-19 | by ( Paul Krugman | ) www.nytimes.com time to read: +1 min

In one sense, you could say that Wednesday’s decision by the Federal Reserve to cut rates was of minimal importance. The interest rate the Fed more or less directly controls — the federal funds rate — is the rate at which banks lend one another money overnight. For one thing, Fed rate changes tend to percolate into longer-term interest rates that really do matter for the economy. For example, the series of rate hikes the Fed undertook in 2022 and 2023 drove 30-year fixed mortgage interest rates up to almost 8 percent from about 3 percent. Most of their decisions are based on the same data about unemployment, inflation and so on available to anyone with an internet connection.

Persons: Jerome Powell, don’t Organizations: Federal Reserve

☆ Tesla, Nvidia lead tech-heavy Nasdaq to one of best days of 2024 after Fed rate cut
▼ + stars: | 2024-09-19 | by ( Ari Levy | ) www.cnbc.com time to read: +3 min

Nvidia CEO Jensen Huang presents the Nvidia Blackwell platform at an event ahead of the COMPUTEX Forum, in Taipei, Taiwan, on June 2, 2024. Led by a 7.4% gain in shares of Tesla and a 4% jump in Nvidia , the Nasdaq rose 2.5% on Thursday, its fourth-sharpest rally of 2024. Nvidia, whose processors are powering the generative AI boom and services like OpenAI's ChatGPT, gained 4% on Thursday to $117.87. Su said AI is going to make its way into "all aspects of our lives," including education and drug development. Among the other top tech companies, Apple and Meta also closed with big gains, each rising almost 4%.

Persons: Jensen Huang, Nvidia Blackwell, it's, they're, Lisa Su, Jim Cramer, Su, Tesla Organizations: Nvidia, COMPUTEX, Investors, Federal Reserve, Tesla, Nasdaq, Federal, Market, Microsoft, Oracle, Devices, Broadcom, AMD, Apple, Meta Locations: Taipei, Taiwan

☆ Treasury yields rise as investors digest Fed’s jumbo rate cut
▼ + stars: | 2024-09-19 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

The 2-year Treasury yield was last less than one basis point higher to 3.6127%. U.S. Treasury yields were higher on Thursday as investors digested the Federal Reserve's decision to cut interest rates by 50 basis points on Wednesday. The Federal Reserve on Wednesday delivered a 50 basis point interest rate reduction, bringing the federal funds rate to 4.75%-5%. The size of the cut was in line with market expectations, which had shifted from expecting a 25 basis point cut to a bigger 50 basis point one in recent days. Elsewhere, the Bank of England is set to announce its latest interest rate decision.

Organizations: Treasury, U.S, Federal Reserve, Bank of England Locations: U.S

☆ Stocks jump Thursday after Federal Reserve’s jumbo-sized rate cut
▼ + stars: | 2024-09-19 | by ( Krystal Hur | ) edition.cnn.com time to read: +2 min

New York CNN —Stocks jumped Thursday morning as investors cheered the Federal Reserve’s eye-popping half-point interest rate cut. Tech stocks surged: Nvidia shares popped 4.8%, Tesla shares gained 5.4%, Meta Platforms shares rose 3.5% and Apple shares climbed 3.5%. The Fed on Wednesday cut rates by half a point, marking its first rate cut since the onset of the Covid pandemic and bringing rates down from a 23-year high. A large rate cut can be a double-edged sword for the economy. The Fed faced pressure to cut rates in July but held steady instead.

Persons: New York CNN — Stocks, Tesla, Jerome Powell, ”, Ronald Temple, Powell Organizations: New, New York CNN —, Dow, Nasdaq, Tech, Nvidia, Meta, Apple, Fed, Lazard Locations: New York, August’s

☆ There's a new biggest bull on Wall Street as BMO raises year-end S&P 500 target to 6,100
▼ + stars: | 2024-09-19 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Chief investment strategist Brian Belski lifted his year-end target for the broad index by 500 points to 6,100. That new forecast implies the S & P 500 can climb 8.6% from Wednesday's close. .SPX YTD mountain S & P 500 YTD Belski said his update came after yet another rebound in equities pushed the index to trade around his prior target. Even if the S & P 500 tests lows seen during September's choppy trading, the investing strategist said he remains confident that it can rise into year-end. The S & P 500 has climbed more than 19% in 2024.

Persons: Brian Belski, It's, Belski, What's Organizations: BMO, CNBC, Federal Reserve Locations: Wednesday's, U.S

☆ Gold holds ground after Fed's oversized rate cut
▼ + stars: | 2024-09-19 | by ( ) www.cnbc.com time to read: +2 min

Gold bars and gold coins of different sizes lie in a safe on a table at the precious metal dealer Pro Aurum. Gold prices held steady on Thursday after hitting a record high in the previous session, after the U.S. Federal Reserve delivered a super-sized interest rate cut. Spot gold was little changed at $2,562.85 per ounce, as of 0319 GMT after scaling a record high of $2,599.92 on Wednesday. Powell, however, said the economy remained strong, with many job market indicators like unemployment claims and even the current 4.2% unemployment rate not at worrying levels. Zero-yield bullion tends to be a preferred investment in a lower interest rate environment and during geopolitical turmoil.

Persons: Jerome Powell, Powell, Kelvin Wong, OANDA's Organizations: Aurum, U.S . Federal Reserve, Fed, Asia, Traders Locations: ., Lebanon

☆ Stock market today: Dow surges 462 points as stocks rally after jumbo Fed rate cut
▼ + stars: | 2024-09-19 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Indexes rallied Thursday as investors continue to digest Wednesday's jumbo rate cut from the Fed. The Fed cut rates by 50 basis points in its first rate cut in over four years. AdvertisementUS stocks soared on Thursday in a late reaction to the Federal Reserve's jumbo interest rate cut. On Wednesday, the Fed issued its first interest rate cut since 2020, cutting its benchmark rate by 50 basis points. Bank of America analysts said after the meeting that they see 75 basis points of cuts in the fourth quarter and 125 basis points next year.

Persons: —, Jerome Powell's, Dow, today's 50bp, Goldman Sachs, Powell, Gen Z's Organizations: Fed, Service, Federal, Nasdaq, Bank of America, Labor Department, SEC

Search resuls for: "4"

25 mentions found