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Many Americans have been holding back from jumping into the housing market in the hopes that mortgage rates will decline. The average 30-year mortgage rate has been above 6% for two years — and is likely to stay above that level for the foreseeable future, experts say. “Sixes are the new normal,” said Lisa Sturtevant, chief economist at Bright MLS, a mortgage listing services group, referring to 6% mortgage rates. It’s really not going to be impacting mortgage rates at all.”Mortgage rates work differently. When demand for those increases, mortgage rates tend to fall.
Persons: Donald Trump’s, , Lisa Sturtevant, Brian Rehling, Trump, Mike Fratantoni, ” Fratantoni, Helene, ” Samuel Tombs, Tombs, Sturtevant, “ It’s Organizations: Federal, Bright MLS, Federal Reserve, Wells, Investment Institute, , U.S, Mortgage, Association, , National Association of Realtors, Pantheon, NBC
Insider Today: Rethinking supplements
  + stars: | 2024-11-09 | by ( Joi-Marie Mckenzie | ) www.businessinsider.com   time to read: +7 min
On the agenda:But first: Inside the vacation-home tax drama in South Lake Tahoe. Brandon Olafsson/ ShutterstockFor Amanda Yen, a Business Insider fellow, her grandparent's vacation home in South Lake Tahoe is "the stuff of legend." However, a proposed annual tax measure on last Tuesday's ballot that was voted down by local residents made her family question whether they'd keep their house. What's been the initial reaction from second homeowners now that Lake Tahoe locals voted against Measure N? AdvertisementMore of this week's top reads:The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York City.
Persons: , Brandon Olafsson, Amanda Yen, she'd, they'd, Amanda, What's, Amelia Richmond, Kamala Harris, they're, Steve Teshara, Rebecca Zisser, Jenny Chang, Rodriguez, Ivan, Fido Carl Godfrey, Natalie Ammari, Smart Ray, Ray, We've, Dan DeFrancesco, Grace Lett, Lisa Ryan Organizations: Business, Service, BI Cruises, BI, Paramount Network, tote Locations: Atlanta, peachy, South Lake Tahoe, South Lake, Lake Tahoe, Vietnam, Cambodia, New England, New York City, New York
"Its monetized crypto offering is significantly more robust than traditional retail brokerage peers, with over 15 tokens available to trade," the analyst wrote of Robinhood. Still, Moley's $30 price target on Robinhood is only a fraction above where the stock closed Thursday. Moley's $250 price target implies that CME stock could add another 13% over the next 12 months. Moley's $35 price target is nearly 5% higher than where the stock closed on Thursday. Shares of Cboe have added 12% this year, trailing the broader market, and Moley's $220 price target implies an additional 9% upside.
Persons: Trump, Piper Sandler, Cryptocurrency, bitcoin, Patrick Moley, Moley, HOOD Organizations: CME Group, CME, BTC, ETH, Virtu, Derivatives, Clearing Locations: U.S
Police are still searching for 43 monkeys that escaped from a research facility in South Carolina on Wednesday, as the head of the company revealed that the outbreak happened when a staff member failed to secure a door properly. Police in Yemassee, Beaufort County, confirmed Thursday night that the primates were in the wooded region surrounding the Alpha Genesis facility, in a rural area on the edge of Yamassee. Locals were urged to lock windows and doors and not to interact with the monkeys and instead call 911 immediately upon spotting any of the escaped primates. Alpha Genesis carries out medical research for a range of clients for several conditions, including brain disorders. Meanwhile, animal rights advocates have raised concerns over the ethics of using primates in medical research on such a scale.
Persons: Greg Westergaard, Alpha Genesis, Westergaard, didn't, Kathleen Conlee, Lisa Jones, Engel Organizations: Police, Alpha, Alpha Genesis, NBC, U.S . Department of Agriculture, Humane Society of, PETA Locations: South Carolina, Yemassee, Beaufort County, Yamassee, United States, Washington
Bank of America is primed to get a boost from multiple tailwinds, according to Citi. BAC YTD mountain BAC YTD chart Horowitz noted pointed to an attractive valuation for Bank of America relative to peers such as JPMorgan Chase. Less regulation under a new Trump administration could also bolster Bank of America shares. "On regulation, BAC is a low-risk firm and could benefit from lighter regulatory environment, and we expect room to run with a proposal re-write on B3 potentially driving returns above our 15% normalized assumption," the analyst added. Of the 24 who cover Bank of America, 17 have a buy or strong buy rating, LSEG data shows.
Persons: Keith Horowitz, Horowitz, JPMorgan Chase, CoE, Trump Organizations: of America, Citi, Bank of America, JPMorgan Locations: Thursday's
Learn moreTwelve-year-olds are at a big transition point in their lives — they're starting to feel more grown up, but they're not quite out of childhood yet. We spoke to Madeleine Buckley, senior editor at The Toy Insider to help us find some of the best gifts for 12-year-old boys. Buckley recommended games, crafts, pop culture gifts, fidgets, and video games for tweens. Before buying a gift, find out what brands, franchises, and video games the 12-year-old on your list is into. Here are 17 of the best gifts for 12-year-old boys
Persons: — they're, they're, Madeleine Buckley, tweens, Buckley Organizations: Business, tweens
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CNN —President-elect Donald Trump could be in a position to select the government’s top ethics czar when he assumes office in January – after a key ally in the Senate blocked President Joe Biden’s pick to head the Office of Government Ethics. The federal agency is charged with monitoring compliance with ethics laws that are aimed at preventing corruption. Walter Shaub, the OGE director when Trump first took office in 2017, clashed repeatedly with the then-president at the start of Trump’s first term. Among other things, he openly criticized Trump for not relinquishing ownership of his real estate and licensing empire. The previous OGE director, Trump appointee Emory Rounds, left the position in July 2023.
Persons: Donald Trump, Joe Biden’s, Republican Sen, Mike Lee of, David Huitema, Biden, Lee, Harris, ” Huitema, Lisa Gilbert, , ” Gilbert, Virginia Canter, Trump, Walter Shaub, Shaub, Jimmy Carter, George W, Bush, Emory Rounds, Shelley Finlayson Organizations: CNN, Republican, Biden, State Department, Public Citizen, Democratic, Truth, Trump, Trump Organization Locations: Mike Lee of Utah, Washington
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
Kent Nishimura | Getty ImagesThis 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. Powell, in yesterday's press conference, maintained that "the election will have no effect on our policy decisions." "By December, we'll have more data, I guess one more employer report, two more inflation reports and lots of other data," Powell said. — CNBC's Jeff Cox, Lisa Kailai Han, Hakyung Kim, Jesse Pound and Alex Harring contributed to this report.
Persons: Jerome Powell, Kent Nishimura, Jim Reid, Trump, Scott Helfstein, Powell, we'll, that's, , Jeff Cox, Lisa Kailai Han, Hakyung Kim, Jesse Pound, Alex Harring Organizations: FTSE, Federal, CNBC, Deutsche, Tech, Apple, Nvidia, Nasdaq, Dow Jones, Global, Congress, Fed Locations: GDAXI, Washington, Washington , DC
For the second time in eight years, the highest, hardest glass ceiling survived millions of tiny cracks, once again testing the optimism of those who hope to see the first female president elected. The late Rep. Shirley Chisholm, a former New York congresswoman, became the first Black woman to seek the office in 1972. “I’m ready for a female president, I just don’t think that most of America is yet, and I don’t know why,” she said. In the Senate, Angela Alsobrooks will be the first Black woman to represent Maryland and Lisa Blunt Rochester will be the first woman to represent Delaware. Together, the two Democrats will be the first two Black women to serve in the chamber at the same time.
Persons: Kamala Harris, Janet Edwards, Harris, “ I’m, ” Edwards, , Donald Trump, Shirley Chisholm, ” Harris ’, Chisholm, Hillary Clinton, Barack Obama, Clinton, Joe Biden, , Trump, Clinton –, Melinda Corey, , ” Priya Lewis, Kamori Thomas, Howard University – Harris, alma, Thomas, ” Thomas, ” Lewis, Harris –, “ We’ve, Kelly Dittmar, Dittmar, Harris ’, Nadia Brown, Brown, Angela Alsobrooks, Lisa Blunt Rochester, Republican Julie Fedorchak, Sarah McBride of, David Axelrod, , I’ve, Axelrod, – Harris, who’d, ” Harris, Christina Reynolds, doesn’t Organizations: CNN, Howard University, , White House, Victoria, Equal Rights Party, Democratic, Trump, Center for American Women, Georgetown University, “ Research, House, Republican, Democratic National Convention Locations: Washington, Italy, North Macedonia, Mexico, New York, America, , Maryland, Delaware, Sarah McBride of Delaware, DC
Andrew Caballero-Reynolds | AFP | Getty ImagesThis 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. Powell, in yesterday's press conference, maintained that "the election will have no effect on our policy decisions." According to the futures market, just 30.4% of traders think the Fed will cut rates again in January. "By December, we'll have more data, I guess one more employer report, two more inflation reports and lots of other data," Powell said.
Persons: Jerome Powell, William McChesney Martin Jr, Andrew Caballero, Reynolds, Jim Reid, Trump, Scott Helfstein, Powell, we'll, that's, , Jeff Cox, Lisa Kailai Han, Hakyung Kim, Jesse Pound, Alex Harring Organizations: Federal Reserve, AFP, Getty, CNBC, Deutsche, Tech, Apple, Nvidia, Nasdaq, Dow Jones, Global, Congress, Fed Locations: Washington , DC
Goldman Sachs is optimistic on BioNTech as a result of a new oncology asset. The bank upgraded shares of the German biotechnology firm to a buy rating from neutral. Analyst Chris Shibutani accompanied the move by hiking his price target to $137 from $90, which implies upside of $27%. BNTX YTD mountain BNTX YTD chart BioNTech can also support an innovative and expansive clinical development program for BNT327 that could challenge the status quo of immune-oncology regimens, Shibutani added. Of the 19 who cover it, 12 have buy or strong buy ratings on BioNTech, LSEG data shows.
Persons: Goldman Sachs, Chris Shibutani, BNTX
The stock had popped 5.9% on Wednesday after the Republican was elected the 47th president of the U.S. Warner Bros. Lyft expects current-quarter bookings to come in between $4.28 billion to $4.35 billion, topping a FactSet consensus of $4.23 billion. Wolfspeed posted revenue of $195 million for the first fiscal quarter, missing the LSEG consensus forecast by $5 million. Arm posted adjusted earnings per share of 30 cents on revenue of $844 million for the second quarter. AppLovin also guided its fourth-quarter EBITDA of $740 million to $760 million, higher than the $667 million StreetAccount forecast.
Persons: LSEG, Donald Trump's, Armour, , Lyft, Wolfspeed, AppLovin, Zillow, Alex Harring, Sean Conlon, Hakyung Kim, Yun Li, Lisa Kailai Han Organizations: Bros, Dutch Bros, Trump Media & Technology, Republican, U.S, Warner Bros, , Discovery, FactSet . Arm Holdings, LSEG, Gilead Sciences Locations: Gilead
"You want the toy to be 90% child and 10% toy," says child psychologist Roberta Golinkoff, PhD, author of "Becoming Brilliant." The best gifts for a 10-year-old boy will encourage age-appropriate development and meet the interests of that individual child. Because interests extend beyond outdated masculine stereotypes, great gifts include everything from sports to arts. And while the newest trending toys are great, some classic toys and games shouldn't be overlooked. Below, we've rounded up our top picks for the best gifts for 10-year-old boys, including STEM toys, games, and outdoor toys.
Persons: Roberta Golinkoff Organizations: Business
Rivian posted an adjusted loss of 99 cents per share on $874 million in revenue. Analysts polled by LSEG had forecast a loss of 92 cents per share on revenue of $990 million. On the other hand, Block's adjusted earnings of 88 cents per share beat analysts' estimates by one cent. DraftKings said its fourth-quarter adjusted earnings before interest, taxes, depreciation and amortization will range between $240 million and $280 million. Expedia's adjusted earnings for the third quarter came in at $6.13 per share, beating analysts' call for $6.04 a share, per LSEG.
Persons: Rivian, LSEG, Airbnb, Akamai, FactSet, DraftKings, Sweetgreen, Toast, Julie Whalen, Jimmy Choo, Michael Kors, Versace, , Darla Mercado, Lisa Kailai Han, Alex Harring Organizations: StreetAccount, Revenue, Arista Networks, Capri Holdings, Capri Locations: LSEG
CNN —Jennifer Lopez is keeping it professional. A video making the rounds on social media shows Lopez on a red carpet for her latest project, the film “Unstoppable,” where she was asked about her former husband Ben Affleck’s praise of her performance. Affleck is one of the producers of her film which also stars Don Cheadle, Jharrel Jerome, and Bobby Cannavale. “We believed in the right people, and ‘Unstoppable’ is another example of that.”In the video being widely shared on social media, Lopez opted to extend kind words to the entire cast and crew. We really believe in the power of storytelling when the people involved in it are deeply connected to the story.”He and Lopez split months ago.
Persons: Jennifer Lopez, Lopez, Ben Affleck’s, Affleck, Don Cheadle, Jharrel Jerome, Bobby Cannavale, ” Affleck, , Anthony Robles Organizations: CNN, “ Entertainment Locations: Los Angeles, Georgia, Las Vegas
Federal Reserve Chair Jerome Powell speaks during a news conference following the Nov. 6-7, 2024, Federal Open Market Committee meeting at William McChesney Martin Jr. Federal Reserve Board Building in Washington, D.C., on Nov. 7, 2024. ET, market pricing pointed toward a 67% chance of another quarter-point cut in December and a 33% chance of a pause that month, according to the CME FedWatch Tool. The probability of a quarter-point December rate cut rose to more than 70% following the meeting, while the chances of a pause slipped to nearly 29%. Future rate probabilities found in the CME FedWatch Tool are derived from trading in 30-day fed funds futures contracts. Meanwhile, the odds that the Federal Reserve would skip an interest rate cut in January was around 71%.
Persons: Jerome Powell, William McChesney Martin Jr, , Jeff Cox Organizations: Federal Reserve, Washington , D.C, Federal Locations: Washington ,, U.S
Democrat Angela Alsobrooks has won Maryland’s Senate race, NBC News projects, defeating popular former Republican Gov. Larry Hogan and becoming the first Black woman elected to represent the state in the Senate. It also means that, for the first time in history, Maryland will have a Black senator, governor and mayor of its largest city, Baltimore. Hogan could never quite replicate the support he received from Democrats as governor in his Senate campaign. In Hogan, many Marylanders saw a Republican who represented an increasingly rare version of the party prior to Trump’s takeover.
Persons: Angela Alsobrooks, Larry Hogan, Democratic Sen, Ben Cardin, Alsobrooks, Lisa Blunt Rochester's, ” Alsobrooks, , David Trone, Hogan, Joe Biden, Sen, Carol Moseley Braun, Donald Trump, David Lublin, , “ doesn’t, “ We’re, Candace Turitto, ” Turitto, Wes Moore, Baltimore Mayor Brandon Scott, Francis Scott Key, Moore, there’s Organizations: Senate, NBC News, Republican Gov, Democratic, Democrats, Prince, Trump, American University, , Republican, University of Maryland’s, Black, Baltimore Mayor, Francis Scott Key Bridge Locations: Maryland, Baltimore, Delaware, Prince George’s County, ” Lublin, Lublin, , it’s
— Delaware state Sen. Sarah McBride won the state’s only House seat Tuesday, NBC News projects, making her the first openly transgender person elected to Congress. McBride, a Democrat, defeated Republican John Whalen III, taking 57.8% of the vote with 95% of the vote in. She thanked her friends and family and her late husband, Andy Cray, who died of cancer in 2014, just days after their wedding. He said he persuaded six Republicans to vote for McBride. In 2020, she was elected to represent Delaware’s 1st Senate District, which includes Claymont, Bellefonte and parts of Edgemoor and Wilmington, becoming the country’s first openly trans state senator.
Persons: Sen, Sarah McBride, McBride, Republican John Whalen III, ” McBride, Andy Cray, , Andy, , Jake Carpenter, ” Carpenter, ” Kelley Robinson, Sarah, ” Robinson, Obama, Beau Biden’s, Joe Biden, Kamala Harris, Lisa Blunt Rochester, “ It’s, AdImpact, Donald Trump, JD Vance Organizations: NBC News, Democrat, Republican, Democratic, Human Rights, HRC, Trans Equality, Democratic National Convention, District, Senate, Republicans, GOP, NBC, Republican National Convention Locations: WILMINGTON, Del, — Delaware, , Delaware’s Senate, Lincoln , Delaware, Sussex County, Delaware’s, Claymont, Bellefonte, Edgemoor, Wilmington, Delaware
Democratic Rep. Lisa Blunt Rochester will become the first Black woman to represent Delaware in the Senate after she defeated Republican Eric Hansen and independent candidate Mike Katz, NBC News projects. Blunt Rochester, 62, told NBC News before Election Day that she had her sights set on creating jobs, protecting reproductive rights, health care and centering the needs of seniors and families. Blunt Rochester said that despite her lead in the polls, she took nothing for granted. In her grief, Blunt Rochester said, she sought direction and felt inspired to run for office. EMILY’s List, which supports women running for elected office, called Blunt Rochester a “groundbreaking leader” in a statement Tuesday night.
Persons: Lisa Blunt Rochester, Republican Eric Hansen, Mike Katz, Blunt Rochester, I’m, , , ” Hansen, Katz, Laphonza Butler, Gavin Newsom, Dianne Feinstein, Butler, Debbie Walsh, Kamala Harris, Carol Moseley Braun, ” Walsh, ” Blunt Rochester, Sen, Tom Carper, Carper, Ruth Ann Minner, Delaware’s, Blunt, Jessica Mackler Organizations: Democratic, Republican, NBC, NBC News, Walmart, Procter, Gamble, Senate, Gov, Center for American Women, Rutgers University, Carol Moseley Braun of Illinois, Black, Democrat, Metropolitan Wilmington Urban League, U.S . Senate Locations: Delaware, , California, New Jersey, Carol Moseley Braun of, U.S
Cheap stocks still remain for investors to buy, despite the equity market persisting near its all-time highs. Strong economic growth and the commencement of an interest rate reduction cycle have propelled stocks to new heights this year, with the benchmark S & P 500 index up 21% in 2024, as of Tuesday's close. CNBC Pro recently screened data from LSEG to find the stocks in the S & P 500 that are currently priced at a discount and could see outperformance going forward. Industrial company 3M has already risen 38% this year but could climb another 15%, according to its average price target. Other names on the list of cheap but promising stocks included technology titan Alphabet , conglomerate Berkshire Hathaway and airline carrier United Airlines .
Persons: Wells Fargo, TD Cowen, Ryan Langston Organizations: Dow Jones Industrial, Nasdaq, CNBC Pro, Citigroup, Universal Health Services, SDP, Universal Health Services . Industrial, 3M, LSEG, Berkshire Hathaway, United Airlines Locations: Monday's
Stocks exploded higher, bonds tanked and crypto boomed to historic peaks, indicating lofty hopes for when the president-elect takes office in January. However, there's still a lot of game left to be played, and the score could change a lot in future days. Essentially, strategists worry Trump's plan for punishing tariffs, higher spending and lower taxes will send bond yields higher, generally a recipe for trouble in stocks. "The question for me is how much can the Trump rally extend in the short term, but it strikes me that selling long positions into a rally makes a good deal of sense." "This suggests an asymmetric risk/reward framework with a much higher probability of downside than upside," said Lisa Hornby, head of U.S. fixed income at Schroders.
Persons: Donald Trump's, Stocks, there's, Mark Dowding, Lisa Hornby Organizations: Trump, RBC Global Asset Management, Federal Reserve Locations: U.S, Schroders
With Trump's victory and upcoming GOP control of the Senate, the Supreme Court looms large. AdvertisementDuring Donald Trump's first term as president, he appointed three justices to the Supreme Court, giving it a 6-3 conservative supermajority. Trump's second term gives Thomas and Alito a chance to retireRepublicans won a majority in the US Senate alongside Trump's victory, which means that they'll be working in tandem should a vacancy arise on the court in Trump's second term. AdvertisementAssociate Justices Clarence Thomas, 76, and Samuel Alito, 74, are two of the most stalwart conservatives on the Supreme Court. Sweeping reforms won't occurMany top Democrats have long eyed changes to the Supreme Court, whether it be expansion or some sort of ethics reform.
Persons: Trump, Clarence Thomas, , Donald Trump's, — Neil Gorsuch, Brett Kavanaugh, Amy Coney Barrett —, Roe, Wade, Thomas, Alito, Trump's, Samuel Alito, there's, George H.W, Bush, George W, Peter Loge, He's, ProPublica, Harlan Crow —, Carl Tobias, Tobias, they're, Lindsey Graham, Susan, Collins, Lisa, Murkowski, Biden, Sen, Mitch McConnell, McConnell, Merrick Garland —, Barack Obama, McConnell reveled, we'll Organizations: Senate, Court, Service, Trump, Republicans, Republican, School of Media, Public Affairs, George Washington University, US, Getty, University of Richmond School of Law, eventual, White, GOP, Democratic, Supreme Locations: Trump's, Kentucky, Washington
CNN —Republicans will win the US Senate majority, CNN projects, shifting the balance of power in Washington. Should Harris prevail, she would face problems in confirming members of her Cabinet and judicial nominees, and the GOP Senate could thwart her domestic plans. Jim Justice was projected to pick up the Senate seat vacated by retiring Democrat-turned-independent Sen. Joe Manchin. And in Nebraska, CNN projects that Republican Sen. Deb Fischer will defeat a stronger-than-expected challenge from independent Dan Osborn, who, along with his allies, outspent Republican forces in the state. Alsobrooks will become just the fourth Black woman elected to the Senate after Democrat Lisa Blunt Rochester, the third, was projected to win Delaware’s open Senate seat earlier in the night.
Persons: Donald Trump, Kamala Harris, Harris, Jim Justice, Sen, Joe Manchin, Manchin, wouldn’t, Democratic Sen, Sherrod Brown, Bernie Moreno, Trump, Cruz, Scott, GOP Sen, Rick Scott, Debbie Mucarsel, Powell, Ted Cruz, Colin Allred, Republican Sen, Deb Fischer, Dan Osborn, Osborn hadn’t, Osborn, Jon Tester, Tim Sheehy, Wisconsin Democratic Sen, Tammy Baldwin, Republican Eric Hovde, Elissa Slotkin, Debbie Stabenow, Mike Rogers, Bob Casey, Republican Dave McCormick, Jacky Rosen, Republican Sam Brown, Kyrsten Sinema, Ruben Gallego, Kari Lake, Angela Alsobrooks, Larry Hogan, Hogan, Lisa Blunt Rochester Organizations: CNN, Republicans, GOP, Democratic, Senate, Trump, Representatives, GOP Senate, Republican, West Virginia Gov, Democrat, Democrats, Rep, Navy SEAL, Wisconsin Democratic, , House Intelligence, Army, Democratic Rep, Maryland’s Republican, Gov, Black Locations: Washington, Ohio, Florida, Texas, Nebraska, Montana, Michigan, Pennsylvania, Nevada, Arizona, Maryland’s, Alsobrooks
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