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Home Depot could be a beneficiary of the Federal Reserve's latest rate cutting cycle, according to Telsey Advisory Group. The investment firm upgraded shares of the home improvement retailer to outperform from market perform ahead of Home Depot's third-quarter earnings release on Tuesday. Analyst Joseph Feldman also lifted his price target to $455 from $360, which implies upside of 14% from Thursday's close. As a catalyst, Feldman cited upcoming Fed rate cuts. Home Depot shares are up more than 15% year to date.
Persons: Joseph Feldman, Feldman, Hurricanes Helene Organizations: Advisory, Fed, Traders, Hurricanes, Home Depot Locations: Thursday's, Milton
The news on Home Depot Telsey Advisory Group, a leader in retail industry analysis, upgraded Home Depot stock to a buy-equivalent outperform on Friday. The news on Best Buy Citi lowered its Best Buy price target to $109 per share from $115 on Friday while maintaining its buy-rating on the stock. BBY YTD mountain Best Buy stock performance year-to-date. Bottom line Despite Citi's concerns, we're sticking with Best Buy. Best Buy should be well-positioned to benefit from falling interest rates if home sales pick up again.
Persons: , Telsey, Jim Cramer, Jim, they're, Donald Trump's, Jim Cramer's, Ting Shen Organizations: Advisory, Depot, Federal, Home Depot, Home, Citi, Trump, CNBC, Home Depot Inc, Bloomberg, Getty Locations: China, Washington , DC
Questions about sexual orientation, gender identity and changes to queries about race and ethnicity are on track to be asked in the most comprehensive survey of American life by 2027, U.S. Census Bureau officials said Thursday. Under the revisions, questions about race and ethnicity that previously were asked separately will be combined into a single question. Questions in English and Spanish about sexual orientation and gender identity started being tested in August with trial questionnaires sent out to several hundred-thousand households. On the sexual orientation test question, respondents can provide a write-in response if they don’t see themselves in the gay or lesbian, straight or bisexual options. The trial questionnaire also is testing “degenderizing” questions about relationships in a household by changing options like “biological son or daughter” to “biological child.”
Persons: Organizations: Census, American, Survey Locations: U.S, Eastern
The news Trump's decisive victory over Vice President Kamala Harris in the 2024 presidential election comes with varying implications for Apple investors. Apple got exceptions in Trump's first term that muted the impact of tariffs on Apple. Bottom line Apple deftly navigated a first Trump term, but it's way too early to say with certainty what Trump's second term in office will mean for the California tech giant. As for tariffs, Apple has wisely expanded its manufacturing capabilities outside of China in markets like India, and it should continue to do so. In Trump's second term, "Apple is going to need what I call special pleading," Jim Cramer said during the Morning Meeting.
Persons: Donald Trump, Kamala Harris, Trump, Apple —, Apple, Bernstein, Tim Cook, Cook, I've, Hillary Clinton, Rosenblatt, it's, Jim Cramer, they're, Jim, Jim Cramer's, Saul Loeb Organizations: Apple, Big Tech, Bank of America, Justice Department, Management, Nvidia, Microsoft, Club, Trump, Democratic, Rosenblatt, Samsung, DOJ, CNBC, American Workforce Policy, White, AFP, Getty Locations: China, U.S, India, California, Washington , DC
The global tariff threat is fueling calls for frontloading from all around the globe," he said. But they added it is based on the belief is tariffs increase the costs of trade, in turn lowering demand and volumes. "Shipping is a global industry feeding on international trade, so another Trump presidency is a step in the wrong direction," said Sand. "The knee-jerk reaction from U.S. shippers will be to frontload imports before Trump is able to impose his new tariffs." Logistics companies serving the Mexico to U.S. cross-border trade tell CNBC new Trump tariffs can have a negative impact on historic cross-border truck trade.
Persons: Donald Trump, Trump, Paul Brashier, Brashier, Swift, Ben Slupecki, Morningstar, Lars Jensen, Jensen, Peter Sand, Slupecki, Jefferies, Omar Nokta, Robert Lighthizer, Piper Sandler, Matthew Rubel, USTR, Obama, Peter Boockvar, Stephen Lamar, Lamar, Matthew Shay, Elect Trump Organizations: ITS Logistics, Trump, frontloading, Trucking, Hunt Transport Services, Schneider National, Norfolk Southern, CSX, Republican, U.S ., Maersk, . Shipping, Vespucci, CNBC, Shipping, U.S . Trade, Committee, Trade, White, Bleakley Financial, American Apparel and Footwear Association, National Retail Federation, Congress, Biden, Logistics Locations: United States, U.S, Maersk, East Coast, Mexico
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailA split Congress will be the most 'benign' outcome for markets: Javelin WealthStephen Davies, CEO of financial advisory firm Javelin Wealth Management, says that a split congress will be the most benign outcome for markets, adding a split government will temper some of the "wild spending promises" that have been made during the course of the election campaign
Persons: Stephen Davies Organizations: Wealth Management
Markets, in particular, crave certainty, and the clear path forward will allow companies to adjust their business and hiring plans. But stocks may also be reacting to Trump’s victory, in particular. Trump flipped several swing states from President Joe Biden’s 2020 victory, and Republicans also took control of the Senate. So Trump’s victory, at least for now, appears to be keeping those rates somewhat higher. Other so-called Trump trades, including shares of his social media stock, Trump Media & Technology Group, surged Wednesday morning.
Persons: Donald Trump, Trump, Joe Biden’s, refocusing, Sam Stovall, Bitcoin, Crypto, Trump’s, Germany’s DAX, Australia’s, , Neil Newman, Hong, ” Daniel Murray Organizations: New, New York CNN —, Dow, Nasdaq, Republicans, Fed, JPMorgan, Democratic, CFRA Research, Gross, Treasury, Trump, Trump Media & Technology Group, CAC, Nikkei, Advisory, EFG Asset Management Locations: New York, Europe, Asia, China, Tokyo, Shanghai
During his first term, Trump imposed tariffs on key industries in both Europe and China. AdvertisementThis time around, analysts told BI that Trump's policies could have a particular impact on Europe. Related storiesEurope is particularly vulnerable to Trump's aggressive trade policies for two main reasons, said Nigel Green, CEO of financial advisory firm deVere Group. AdvertisementDonald Trump met European Commission President Ursula von der Leyen at the World Economic Forum in Davos in 2020. Steven Kennedy, the most senior civil servant in Australia's Treasury department, said Wednesday he expected Trump's tariffs to impact the country's economy.
Persons: Donald Trump's, Trump, , Donald Trump, Bilal Hafeez, Nigel Green, Green, Morningstar, Trump's, Michael Brown, Ursula von der Leyen, JIM WATSON, Steven Kennedy, Kennedy, Fitch, Latinvex Organizations: Service, European Union, Macro, Economic, of Chicago, Street Journal, deVere, Pharmaceuticals, Morningstar DBRS, Trump, stoke, European, Getty, European Commission, Treasury, News.com.au Locations: Europe, China, Ukraine, Davos, Australasia, Latin America, America, Mexico
Former President Donald Trump arrives for his campaign rally at the Trump National Doral Golf Club in Doral, Florida, on July 9, 2024. Getting that money required him to make big promises pertaining to the crypto industry. "For too long our government has violated the cardinal rule that every bitcoiner knows by heart: Never sell your bitcoin," Trump said during his keynote speech. Trump pledged to maintain the current level of bitcoin holdings that the U.S. has amassed from seizing assets from financial criminals. "On day one, I will fire Gary Gensler," Trump said, referencing the Joe Biden-appointed SEC chairman who has taken an aggressive approach to crypto regulation.
Persons: Donald Trump, Joe Raedle, Elon Musk, Robert F, Kennedy, Jr, Cantor Fitzgerald, Howard Lutnick, Trump, MicroStrategy, Gary Gensler, Joe Biden, Gensler, Crypto, haven't, Sen, Elizabeth Warren, Bitcoin, Jerome Powell Organizations: Trump National Doral Golf Club, Getty, Republican, Strategic, White, U.S . Marshals Service, U.S . Securities, Exchange, SEC, Trump, Lago Club, Riot, Marathon Digital Holdings, Radical Communist, Federal Reserve Locations: Doral , Florida, Nashville, United States of America, Germany, America, Palm Beach , Florida, China, Russia, USA
Only 22% of parents are "completely confident" in their ability to teach their children the basics of investing, the survey found, and they're looking to their kids' schools for help. All else being equal, 74% of parents said they would move their children to a different school if it offered financial education and investment courses. SIFMA with Wakefield Research polled 1,000 U.S. parents of students in grades K-12. Getting your child hands-on experience with investing is also a smart strategy, advisors say. Hands-on experience also gives children a chance to discuss with parents what investing means to them, she said.
Persons: , Melanie Mortimer, Lance Robert, Stacy Francis, Francis, Catherine Valega, Roth IRAs, Valega Organizations: SIFMA Foundation, Wakefield Research, Francis Financial, CNBC, Getty Images, Green Bee Advisory Locations: Los Angeles, New York, Getty Images Boston
Google's Workspace leader Aparna Pappu is stepping down, per an internal memo. "I'm ready for the next opportunity at Google and stepping down from my current role as GM of Workspace," Pappu told staff last week in a memo viewed by Business Insider. Pappu said she would remain in an advisory position for Workspace before transitioning to a new role within Google. Dischler moved to a new role as Google's president of cloud applications earlier this year after 15 years working on Google's ads. AdvertisementThe shake-up comes at a critical time for Google's Workspace business as it tries to get customers to pay for new generative AI features.
Persons: Aparna Pappu, Jerry Dischler, , Pappu, Javier Soltero, Anurag Agarwal, Yulie Kwon Kim, Dischler, Thomas Kurian, Pat McCarthy, Bob Frati, That's Organizations: Service, Microsoft, Google, Business, BI
Some health experts said elevating Kennedy, even in an informal Trump administration position, could potentially lead to severe consequences for patients, drugmakers and the nation's public health overall. That could exacerbate the nation's existing public health challenges, such as declining childhood vaccination rates for several preventable diseases, some experts say. "I think we could reasonably predict that there would be a decline in vaccination rates among children, and perhaps vaccination overall." Drugmakers such as Pfizer and Moderna are still recovering from falling Covid vaccination rates in the U.S., which have dented their profits over the last two years. Kennedy's other proposals for overhauling federal health agencies will likely be difficult to execute.
Persons: Donald Trump, Robert F, Kennedy Jr, Anna Moneymaker, Kennedy, Trump, Dr, Paul Offit, Drew Altman, Altman, Genevieve Kanter, Cynthia Blancas, Deep Patel, Christina House, they've, Offit, Andrew Kelly, USC's Kanter, that's, Georges Benjamin, Covid, Kanter Organizations: Gas, Getty, White House, Trump, Children's Hospital of Philadelphia, CNBC, and Drug Administration, Centers for Disease Control, Commonwealth Fund, Senate, Washington Post, University of Southern, CVS, Los Angeles Times, CDC, Pfizer, Moderna, NBC, Health Defense, FDA, Department of Health, Human Services, U.S . Food, Drug Administration, Reuters, American Public Health Association, Pharma Locations: Duluth , Georgia, U.S, University of Southern California, Lynwood, Huntington Park, Samoa, White Oak , Maryland
New arrivals to the U.K. will receive 100% U.K. tax relief for their first four years, so long as they have been non-resident for the last 10 years. That's in addition to the £21.1 billion the independent Office for Budget Responsibility (OBR) forecast to be raised by earlier changes to the non-dom regime announced by the Conservatives in March. "Although the draft legislation has now been released, the Government still has time to create a new non-dom system that works for internationally-mobile individuals," Porter said in a statement. If they'd gone for the tiered (system), there would have been howls that you've given into the fat cats. "If they'd gone for the tiered (system), there would have been howls that you've given into the fat cats," he said.
Persons: Mike Kemp, Rachel Reeves, Reeves, Times Rich, David Lesperance, Lesperance, Steven Porter, Porter, they'd, Leslie Macleod Miller Organizations: Ford, Labour, Finance, , Times, Associates, CNBC, Conservatives, Treasury, Government, Foreign Investors, Britain, Lesperance Locations: Kuwait, Burlington, Bond, London, United Kingdom, City, That's, Italy, Switzerland, Dubai
Activist Irenic Capital Management said Tuesday that it would back fellow dissident Starboard Value's push to dissolve the dual-class structure at Rupert Murdoch's News Corp , ahead of a closely watched shareholder meeting. Irenic wrote in its Tuesday letter to News Corp's board that while it opposed the dual-class structure, it remained supportive of management's efforts to "unlock immediate value." Irenic also wrote it believes the Murdoch family and other super-voting shareholders should be paid a premium if a conversion to a single-share structure happened. A vote to dissolve the dual-class structure at News Corp nearly a decade ago failed, although it was supported by 90% of non-Murdoch shareholders. The Murdoch family controls roughly 40% of the vote through a family trust and the supervoting Class B shares, making governance changes tough.
Persons: Jeff Smith's, Murdoch, Adam Katz's Irenic, Irenic, Glass Lewis Organizations: Irenic Capital Management, Rupert Murdoch's News Corp, Wall Street, News Corp
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailElon Musk's spiraling too far towards conspiracy theories, says 'Elon Musk' author Walter IsaacsonWalter Isaacson, Perella Weinberg's advisory partner discusses Isaacson's thoughts on the election results thus far, Elon Musk's political pivot, and more.
Persons: Elon Musk, Walter Isaacson Walter Isaacson, Perella, Elon Organizations: Elon
Donald Trump megadonor Elon Musk's private jet has landed in Florida. AdvertisementElon Musk's private jet has landed in Florida, where the billionaire will reportedly watch the election results roll in with Donald Trump at Mar-a-Lago. After flying from Austin to Cameron County, Texas — where SpaceX is located and Musk said he voted — earlier this afternoon, Musk's private jet landed in West Palm Beach, according to jet-tracking service Jetspy. On Tuesday, The New York Times reported that Musk, a Trump megadonor, was to spend election night with Trump, citing three sources with knowledge of Musk's schedule. Sweeney told Business Insider that Musk's jets were easily identifiable because Musk's jet continued broadcasting its call sign.
Persons: Donald Trump megadonor, Donald Trump, , Musk, Trump, Elon Musk, Jack Sweeney, Sweeney Organizations: Donald Trump megadonor Elon, Mar, Trump, GOP, Service, Elon, SpaceX, The New York Times, Palm Beach Convention Center, Representatives, Musk, Business, PIA, Federal Aviation Administration, Republican Party, Musk's America PAC, PAC Locations: Florida, Austin, Cameron County , Texas, West Palm Beach, Palm Beach, Pennsylvania, New York City
As the campaign enters its final days, Harris and Trump use starkly different messages to woo voters. Harris and Trump appeal to voters with starkly different tones in final campaign daysSipa via AP; Getty ImagesFormer President Donald Trump and Vice President Kamala Harris spent the final weekend of their campaigns bouncing between battleground states, hoping to ramp up last-minute support. More on the election:➡️ The final national NBC News poll of the 2024 presidential election finds the contest is neck and neck between Harris and Trump. ➡️ In an interview with NBC News' Dasha Burns Trump didn’t rule out banning vaccines if he becomes president. ➡️ Here’s why election night vote counts can make it hard to tell who will win the presidency.
Persons: Harris, Trump, Donald Trump, Kamala Harris, , , ” Trump, NBC’s, Dasha Burns Trump, ➡️, ➡️ Trump, Oklahoma Bryan Terry, Kevin Stitt, Stitt, NFL Jeffrey Becker, Greg Rosenstein, 💪, arnold, alf, 🏃, Ari z, Bea, ove, gad Organizations: NFL, Trump, AP, Getty, NBC, ➡️, NBC News, Senate, Imagn, Oklahoma Gov, Oklahoma City Fire Department, Video, National Weather Service, Oklahoma, Minnesota Vikings, Detroit Lions, dow Locations: Oklahoma, Pennsylvania, Puerto Rico, Lititz , Pennsylvania, Oklahoma City, Arkansas, Missouri, Ste l
Tracking Hurricane Rafael
  + stars: | 2024-11-04 | by ( William B. Davis | Madison Dong | Judson Jones | ) www.nytimes.com   time to read: +2 min
Tracking Hurricane Rafael Leer en españolRafael was a Category 2 hurricane in the Gulf of Mexico Wednesday evening Eastern time, the National Hurricane Center said in its latest advisory. The hurricane had sustained wind speeds of 105 miles per hour. By The New York TimesRafael is the 17th named storm to form in the Atlantic in 2024. In late May, the National Oceanic and Atmospheric Administration predicted that there would be 17 to 25 named storms this year, an above-normal amount. Without El Niño this year, clouds are more likely to tower to the tall heights needed to sustain a powerful cyclone.
Persons: Leer, Rafael, The New York Times Rafael Organizations: National Hurricane Center, The New York Times, NOAA, National Oceanic, Atmospheric Administration, Hurricanes Locations: Gulf, Mexico, United States
At least five people were injured after heavy rain and tornadoes ripped through Oklahoma Saturday night leading into Sunday morning. Video shows that Newcastle Elementary School in the Oklahoma City metro area sustained major damage, including tiling that fell off of the building's facade. KFORElsewhere in Oklahoma City, mounds of debris, including wood and sheetrock, could be seen strewn about around a community. It's not clear whether they were injured as a result of the tornadoes or the heavy rainfall, but the fire department said they responded to several vehicles that had been flooded. Most of Oklahoma remains under flood watch with a threat of heavy rainfall and over 51,000 utility customers do not have power as of 10:30 a.m.
Persons: Scott Douglas, It's Organizations: Oklahoma City Fire Department, Video, Newcastle Elementary School, Sunday, KFOR, National Weather Service, Oklahoma Locations: Oklahoma, Oklahoma City, Arkansas, Missouri, Arkansas , Louisiana , Texas, Mississippi
Mortgage rates may affect payoff calculusThe mortgage payoff calculus may change based on whether people can outearn their mortgage rates with safe, guaranteed investments, Benz said. For mortgage rates that are 6% or more, paying that balance off will provide a guaranteed return. Admittedly, the argument over whether to pay off mortgages is "much more emotional and psychological than it is financial," Jenkin said. The big money questions people ask themselves to prepare for retirement are just as important as the emotional ones. What brought you joy while you were working may change in retirement, Michael Finke, a professor of wealth management at The American College of Financial Services, tells Benz.
Persons: Jessica Lautz, Benz, JL Collins, Collins, Robert Daly, Ted Jenkin, Jenkin, Michael Finke Organizations: Joint Center for Housing Studies of Harvard University, National Association of Realtors, Benz, Getty, CNBC, CNBC FA, The American College of Financial Services Locations: Atlanta
The holiday shopping season is upon us, and our retail stocks are well-positioned to thrive, according to Wall Street research firm Telsey Advisory Group. Telsey Advisory expects value-seeking to be a key theme among shoppers this year, which puts companies with reputations for good deals on solid ground. Overall, the firm expects holiday retail sales up between 3% to 3.5% this year, compared with 4.6% growth last year and a 5.4% increase in 2022. Costco has had a good year so far, and that should continue in the final months of 2024, Telsey Advisory argued. Big picture Telsey Advisory selecting these four Club stocks as preferred names this holiday season reflects their competitive chops within their respective categories.
Persons: Dana Telsey, Milton, we've, Jim Cramer's, Jim Cramer, Jim, Thomas Trutschel Organizations: Telsey Advisory, Costco, TJX Companies, Telsey, Walmart, CNBC, National Retail Federation, Hurricanes, U.S, Amazon Prime, Photothek, Getty
This week, the state health department issued an advisory to doctors suggesting that recent ads about Nebraska’s abortion restrictions had created "confusion." She said the health department and Gov. Jeff Powell, communications director for the Nebraska Department of Health and Human Services, said the intent of the health alert was to "clarify the current law." In response to the health department alert, two doctors in the state said there is no confusion among physicians about how to treat ectopic pregnancies or miscarriages. The Florida Health Department sent cease-and-desist letters to multiple broadcast stations that aired an ad supporting an abortion-rights ballot measure.
Persons: Timothy Tesmer, Allie Berry, , Berry, Jim Pillen —, Jeff Powell, women’s, Kimberly Paseka, Paseka, , ” Paseka, , Abigail Drucker, Drucker, ” Drucker, ” Dr, Mary Kinyoun, ” Powell, DHHS, Joseph Ladapo Organizations: OB, Nebraska, Gov, Republican, Nebraska Department of Health, Human Services, NBC News, American College of Obstetricians, Florida Health Department Locations: Nebraska, Gynecologists ’ Nebraska, Omaha, Florida
The weapon resembles a US sea drone the group captured years ago, analysts told BI. AdvertisementThe Houthi rebels in Yemen have a new torpedo to show off — and it looks familiar. Martin Kelly of the UK advisory firm EOS Risk Group, said the torpedo could derive from a US REMUS 600 drone lost in 2018. Houthi forcesPer Kelly, Iranian scientists could have turned a captive example into a "blueprint" for the homegrown weapon seen this week. He told BI that the torpedo looked like models put on display at an Iranian navy exhibition in Tehran in December 2023.
Persons: , Al Qar'iah, Martin Kelly, REMUS, US REMUS, Per Kelly, Kelly, Mohammed Albasha Organizations: Service, EOS Risk, US MIM, US, US Defense Intelligence Agency, Geneva Graduate Institute, BI, US Navy, Pentagon, Drewry Locations: Iran, Yemen, US, Russia, Ukraine, Tehran, Iranian, Red, Israel, Gaza, Albasha
Emergency officials said early Wednesday that fire crews and police were responding to the blaze in the vicinity of BAE Systems in Barrow-in-Furness, northwest England. BAE Systems is one of the largest defense contractors in Europe. Its subsidiary, BAE Systems Submarines, headquartered in Barrow-in-Furness, builds and assembles the UK’s nuclear submarines. “There is no nuclear risk,” Cumbria Police said in a statement on X. CNN reached out to BAE Systems and the UK Ministry of Defence, which directed questions to BAE Systems.
Organizations: CNN, BAE Systems, BAE Systems Submarines, Cumbria Police, Rescue Services, Police, UK Ministry of Defence Locations: Barrow, Furness, England, Europe, Cumbria
Voters across the country are set to decide on nearly 150 ballot measures next week that will shape the future of a wide variety of policy issues in their states. (In addition, Louisiana will let voters decide on four constitutional amendments on its Dec. 7 ballot.) “Everyone knows this is a big issue this year — it’s the most we’ve ever seen for reproductive freedom ballot measures in history,” Fields Figueredo said. Voting and electionsThere are 39 ballot measures on the November ballot related to democracy, elections and voting procedures, according to the Ballot Initiative Strategy Center. And voting rights groups have argued it is designed to galvanize conservative turnout and counter enthusiasm for the state’s abortion rights proposal.
Persons: , Chris Melody Fields Figueredo, Figueredo Organizations: Strategy Center, Republican, noncitizens, Republicans Locations: Louisiana, Arizona, Nevada, Montana, Florida, In Arizona , Florida , Missouri, South Dakota, Maryland , Montana , Nevada, New York, Colorado, Nebraska, — Idaho , Iowa , Kentucky , Missouri, North Carolina , Oklahoma, South Carolina, Wisconsin, North Dakota, Florida , Nebraska, In Nebraska, Immigration Arizona, California, Alaska, Missouri, Washington
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