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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
The consensus view is that lower rates will stave off a recession by stimulating economic growth through lower borrowing costs. The hidden danger of a double cutHowever, David Kelly of JPMorgan Asset Management warned that lower rates aren't an economic panacea. In fact, the chief global strategist thinks these cuts could, paradoxically, cause the economy to slow in the near term. Advertisement"The important thing to recognize is that cutting interest rates at the start doesn't stimulate the economy at all," Kelly said on CNBC. "There is a J-curve effect; it actually slows the economy because people begin to anticipate those lower rates, so they want to wait for lower rates."
Persons: , Jim Caron, Claudia Sahm, Jerome Powell, Sahm, Ronald Temple, Kevin Philip of, David Kelly, Kelly, what's, you've, Kelly isn't, it's, they've Organizations: Service, Federal, Business, Fed, Dow Jones, Morgan Stanley Investment Management, CNBC, New Century Advisors, Lazard, Kevin Philip of Bel Air Investment Advisors, JPMorgan Asset Management
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
“Given that sleep is highly visible as a risk factor, non-stigmatizing, and highly treatable … we suggest study of sleep as a risk factor and critical intervention target for youth suicide,” said senior study author Dr. Rebecca Bernert, a suicidologist and founder of the Stanford Suicide Prevention Research Laboratory in California, via email. Suicide is a leading cause of death among children ages 10 to 14, a group that also has high rates of sleep disturbance, according to the study. And sleep disturbances “have emerged as an evidence-based risk factor for suicidal behaviors” among adults, regardless of whether a person has depressive symptoms, the authors said. At that time, guardians answered questionnaires about their child’s sleep health, which included factors such as problems with falling or staying asleep, waking up, excessive sleepiness, sleep-disorder breathing, excessive sweating during sleep, and behaviors that occur when someone partially awakes from deep sleep. Supporting your child’s healthAt all ages, your kids need good nighttime habits that support healthy sleep, Willard said.
Persons: ideation, , Rebecca Bernert, Christopher Willard, wasn’t, ” Willard, Rebecca Berry, University’s, Berry wasn’t, Bernert, ” Bernert, Berry, Sleep, Willard, ” Berry, Organizations: Lifeline, CNN, JAMA, Stanford, Prevention Research, Harvard Medical School, University’s Grossman School of Medicine, Stanford University School of Medicine Locations: California, United States, Massachusetts, Boston, New
(This is a wrap-up of the key money moving discussions on CNBC's "Worldwide Exchange" exclusive for Pro subscribers. Worldwide Exchange airs at 5 a.m. Worldwide Exchange Word of the Day: "Dissent" Jay Woods of Freedom Capital Markets said he's paying close attention to Fed Governor Michelle Bowman becoming the first dissenting Fed Governor since 2005. "I think this is the return of the cyclical trade," said Shah on Worldwide Exchange. Worldwide Exchange Pick: FedEx and Transports FedEx reports after the bell Thursday.
Persons: Jay Woods, Michelle Bowman, Seema Shah, Woods Organizations: Pro, Worldwide, Federal Reserve, Freedom Capital Markets, Management, FedEx, Transports FedEx, Dow
CNN —Coco Gauff has parted ways with her coach, Brad Gilbert, following a series of poor results culminating in a failed defense of her US Open title. 6 lost in the fourth round of the US Open to American Emma Navarro, who had also bested her in the fourth round at Wimbledon just months before. “Mentally and emotionally, I gave it my all,” Gauff told reporters after her loss to Navarro. Gilbert paid tribute to Gauff on X – formerly known as Twitter – on Wednesday, writing: “Thanks to Coco Gauff and the entire team for an absolutely amazing summer run in 2023 and for 14 months of incredible team effort. Brad Gilbert coaches Coco Gauff of the United States during practice ahead of the US Open on August 24, 2024.
Persons: Coco Gauff, Brad Gilbert, American Emma Navarro, Gilbert, Gauff, ” Gauff, Navarro, Robert Prange, , Organizations: CNN, Wimbledon, Twitter, Auckland Locations: American, Cincinnati, Washington, Berlin, Wimbledon, Toronto, Flushing Meadows, United States
The movie follows the couple over a decade of their relationship, which changes forever after a medical diagnosis. In an interview with British Vogue published Wednesday, Pugh revealed that the dramatic haircut triggered both a physical and emotional response. Dimitrios Kambouris/Getty Images“In many religions, hair is the most precious thing on the body – it’s where you store your memories and your dreams and your history. My body went into a bit of trauma from it. Co-star Garfield was the one to shave her head for the movie.
Persons: Florence Pugh, Andrew Garfield, Pugh, Dimitrios Kambouris, , “ Oppenheimer, Garfield, ” Pugh, , I’m, Oppenheimer, Henry Nicholls, Zach Braff Organizations: CNN, Vogue, Getty, Sunday Times Locations: British, AFP
David Schwimmer told the "Origins with Cush Jumbo" he turned down a role in the "Men In Black." Schwimmer said the role, which Will Smith took, could have made him a movie star. AdvertisementDavid Schwimmer said he turned down a lead role in "Men in Black" to direct a movie with his friends. Will Smith took the role, cementing his status as a Hollywood star. Schwimmer told Tuesday's episode of the "Origins with Cush Jumbo" podcast that he was offered the lead role in the 1997 movie during a four-month hiatus from filming "Friends."
Persons: David Schwimmer, Cush Jumbo, Schwimmer, Will Smith, Organizations: Service, Miramax, Lookingglass Theatre Company, Business
Armenia's prime minister said Putin's NATO-style alliance, the CSTO, "creates threats" for his country. Armenia recently froze its membership in the CSTO, which was seen as a blow to Putin. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA former close ally of Russia said that President Vladimir Putin's NATO-style alliance, far from offering security guarantees, now "creates threats" for his country. Armenia recently froze its membership in the six-nation Collective Security Treaty Organization of post-Soviet states, which has been seen as Putin's answer to NATO.
Persons: Armenia's, , Vladimir Putin's Organizations: NATO, Service, Vladimir Putin's NATO, Security, Organization, Business Locations: Armenia, Russia, Kazakhstan, Belarus, Kyrgyzstan, Tajikistan
Growing up, I felt that I had a well-rounded childhood, and I try to mirror this for my own kids. I went to a private schoolMy childhood started in a private preschool setting and in many ways, I feel as though that experience led me toward a successful path in terms of social connections and education. When I had children of my own, sending them to a similar preschool was a high priority for me. AdvertisementSuddenly, sending both of our daughters to this wildly expensive preschool was no longer something we could just do. AdvertisementSchool gave them a lot more than educationAt first, I chose to send them to private preschool for their early education and social learning, but in the end, it became so much more than that.
Persons: wouldn't Organizations: Service
The new findings add to strong, but circumstantial evidence that the SARS-CoV2 virus jumped from infected animals to humans and that the market was a central site of early spread. Of the animals present at the market, rabbits, dogs and raccoon dogs are known to be susceptible to Covid-19 infections. Their analysis shows that SARS-CoV2 virus present at the market emerged at the same time as the virus from the larger pandemic, suggesting they are one and the same. The pandemic virus would have an earlier birthdate. “A lab origin is a possibility.
Persons: , , Kristian Andersen, Andersen, ” Andersen, Florence Debarre, ” Debarre, Debarre, there’s, Dr, Sanjay Gupta Organizations: CNN, Wholesale, Scripps, Research, French National Centre for Scientific Research, National Institutes of Health, CNN Health Locations: Wuhan, China, Covid, La Jolla , California, United States
Franklin Templeton's Yi Ping Liao describes the South Asian country as "a fertile hunting ground to identify stocks." And if this continues, you can potentially see lower equity risk premiums for the market," the assistant portfolio manager told CNBC Pro on Sept. 12. She likes that the Indian market offers the "opportunity to identify good stocks," following an improvement in its breadth. Among the names Liao is betting on is automaker Tata Motors . Elsewhere, in the tourism and hospitality industry, the portfolio manager likes hotel chain Indian Hotels — the company behind premium brands like Taj, Vivanta and Ginger.
Persons: Franklin Templeton's Yi Ping Liao, Liao, Franklin, Morgan Stanley, China's, Vivanta, Ginger, India's financialization Organizations: CNBC Pro, Templeton, Growth, IMI, Bombay Stock Exchange, World Economic, Bain & Company, Tata Motors, Tata, Apollo, Max Healthcare Institute, Insurance, Taj, HDFC Bank, ICICI Bank, Kotak Mahindra Bank Locations: India, Asia, China, U.S
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
Karachi, Pakistan — Police in southern Pakistan shot dead a blasphemy suspect during an alleged shootout with armed men, officials said Thursday, the second such apparent extra-judicial killing in a week, drawing condemnation from human rights groups. Videos circulating on social media showed local clerics throwing rose petals at police and praising officers for killing the blasphemy suspect. There was no immediate clarification from the Sindh government about the circumstances in which the suspect was killed. The latest killing comes a week after an officer opened fire inside a police station in the southwestern city of Quetta, fatally wounding Syed Khan, another suspect held on accusations of blasphemy. Pakistan has witnessed a surge in attacks on blasphemy suspects in recent years.
Persons: Shah Nawaz, Mohammed, Niaz Khoso, Nawaz, , Khoso, , HRCP, Syed Khan, Khan, Mohammad Khurram, , Islam Organizations: Pakistan — Police, Police, Local, Human Rights Locations: Karachi, Pakistan, Umerkot district, Sindh province, Mirpur Khas, Sindh, Umerkot, Quetta, Madyan, Punjab, Jaranwala
CNN —Donald Trump’s campaign declined to say Thursday whether North Carolina Lt. Gov. The report immediately rippled through the 2024 presidential race, where North Carolina is a target for both Trump and Harris. “My hope is that the lieutenant governor can reassure the people of North Carolina that the allegations aren’t true,” he said. Another North Carolina Republican, Rep. Greg Murphy, also called the allegations “very concerning” but raised doubt about their authenticity. CORRECTION: This story has been corrected to note that North Carolina Rep. Greg Murphy is not part of the House Freedom Caucus.
Persons: Donald Trump’s, Mark Robinson, “ Martin Luther King, Kamala Harris ’, Robinson, Trump, he’d, , Harris, Harris ’, Martin Luther King, Trump’s, Biden, ” Trump, Karoline Leavitt, , , we’re, Josh Stein, Roy Cooper, “ Donald Trump, ” Cooper, Stein, Josh, Izzi Levy, ” Levy, Jeff Jackson, Carolina Sen, Thom Tillis, ” Tillis, Richard Hudson, Hudson, Greg Murphy, Ralph Norman, he’s, Norman, ” Norman, Marjorie Taylor Greene, Georgia, CNN’s Alayna Treene, Kristen Holmes, Aaron Pellish, Dianne Gallagher, Annie Grayer, Morgan Rimmer, Kate Sullivan, Omar Jimenez Organizations: CNN, Gov, Republican, Trump, White, NAACP, ” North, ” North Carolina Democrats, NC GOP, Democratic Governors Association, Republican Governors Association, North Carolina Rep, Democratic, Republicans, North, North Carolina General Assembly, North Carolina Republican, South Carolina Rep, Caucus, GOP Locations: North Carolina, Greensboro , North Carolina, Asheville, Asheboro, , ” North Carolina, Hill, Carolina
Washington CNN —Sales of previously owned homes in the United States fell sharply in August, despite mortgage rates plummeting that month. Lower borrowing costs will likely entice buyersMortgage rates could very well come down even more, but that would depend on economic data making it clear that the Fed would cut rates further. The Fed doesn’t control mortgage rates, but its action do influence them through movements in bond yields. Mortgage rates track the 10-year US Treasury yield, which moves in anticipation of the Fed’s decision on rates. Yun told reporters it could take three or four months for lower mortgage rates to boost demand for housing.
Persons: ” Yun, , Daniele Hale, , we’re, Freddie Mac, Yun, ‘ I’m Organizations: Washington CNN —, Federal Reserve, National Association of Realtors, Fed, Treasury Locations: United States
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewNo politician has done more than Sen. JD Vance to keep unverified claims of pet-eating Haitian immigrants in the news. "I think that conversation, overall, has been distracting from the real issue at hand," said Rep. Juan Ciscomani. That doesn't mean the Arizona congressman, whose district includes portions of the US-Mexico border, isn't supportive of tougher border security and immigration measures. "There's a lot bigger issues that should be focused on, and I think, obviously, in these conversations, showing respect for the Haitian community is important."
Persons: , Sen, JD Vance, Juan Ciscomani, Harris, Mike Lawler, Donald Trump, Vance, Mike DeWine, Trump, DeWine, Springfield, YouGov, Mitt Romney, it's, Marc Molinaro, Molinaro, who's, Shelly Moore Capito, Biden, John Cornyn of, Josh Hawley, Hawley Organizations: Service, Biden, Business, Republican, PBS, Springfield Locations: Arizona, Mexico, tossup, Springfield , Ohio, United States, New York, Springfield, Utah, West Virginia, John Cornyn of Texas, Josh Hawley of Missouri, Springfield , Missouri
"A number of ocean carriers have announced their plans in terms of embargoing export cargo coming to the East Coast from the Midwest," said Rooney. Once the strike is over the Coast Guard would lead the charge in an orderly flow of vessels entering the port." "While the APAC region typically has more options to shift freight to the West Coast, over half of the automotive freight coming in today is heavily dependent on the East Coast. Port of New York/New Jersey has joined other ports that have publicly posted strike contingency plans. The vessels scheduled to come into the East Coast and Gulf ports have been traversing the ocean since early to mid-August.
Persons: Beth Rooney, Rooney, Jim Mancini, CH Robinson, Biden, Taft, Hartley, We've, Harold Daggett Organizations: CNBC, International Longshoreman's Association, ILA, Cruise, United States Maritime Alliance, Port Authority of New, Coast Guard, Maersk, Port, Bloomberg, Getty, Transportation, U.S ., Biden, Logistics Locations: of New York, New Jersey, North America, East, Gulf Coasts, Port Authority of New York, New York, East Coast, Maersk Atlanta, Newark, Newark , New Jersey, US, North, Europe, Oceania, Latin America, Asia, West Coast, Germany, Charleston, Savannah, U.S . West Coast, Port, Houston, Mobile , Alabama
You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewMike Molloy is a nutrition coach to elite athletes and regular folk alike. This story is available exclusively to Business Insider subscribers. Having strong social connections is well-established as an important factor in longevity, and if your friends and family also encourage you to live a healthy life, all the better.
Persons: , Mike Molloy, Molloy, Sleep Molloy Organizations: Service, Business, Research
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDouglas Elliman's Noble Black explores the impact of rate cuts on housingNoble Black, Douglas Elliman real estate agent, joins 'Power Lunch' to discuss how the Fed's latest rate cut will impact the housing market, how new buyers are paying, and much more.
Persons: Douglas Elliman's Noble Black, Noble Black, Douglas
AdvertisementAfter Paige said she wanted to do the grocery shopping, I thought, "I just need to think about the steps here." Grocery shopping has three parts: what you need, where it is, and checking out. She learned the layout of the grocery store and how to use the chip on the credit card. I'm practicing grocery shopping by myself." Grocery shopping is super fun for her.
Persons: , Russ Perry, Paige, she'll, I've, Rees, Perry, she's, It's Organizations: Service, Business Locations: Arizona
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe must first make AI more affordable before thinking about scaling up use cases: Fusion FundLu Zhang of Fusion Fund discusses the opportunities she sees in investing in AI infrastructure and how this would address four major problems affecting cost and implementation of AI solutions.
Persons: Lu Zhang Organizations: Fusion Fund
The Federal Reserve didn't hold back when it cut interest rates for the first time in more than four years. In a press conference after the announcement, Powell said he believes the economy is moving in the right direction. iStock; BISo what does this rate cut mean for … everything? Our colleagues at Personal Finance Insider have covered the eventual impacts the rate cut will have on various financial products. Let's start with mortgage rates, since that's an area people naturally think of when it comes to interest rates.
Persons: , Jerome Powell, Powell, you'll, Dan DeFrancesco, Hallam Bullock, Milan Sehmbi, Amanda Yen Organizations: Service, Federal, Business, Finance Locations: New York, London
Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewWhen we purchased a three-bedroom fixer-upper in Melbourne, Australia, in 2017, we couldn't wait to move in and get started renovating. Over the course of three years, we spent just over $80,000 Australian dollars, about $54,000, transforming it into our dream home. Here are five fairly low cost upgrades that really boosted our property's appeal and got many compliments from friends and family. AdvertisementIt only cost about AU$200 to make, but it really added to the property's street appeal.
Persons: , Cameron Church Organizations: Service, Business Locations: Melbourne, Australia
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
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