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Nike just appointed a new CEO who came out of retirement to take the job. Elliott Hill will take over from John Donahoe in October, Nike said. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The sneaker maker announced that Elliott Hill will be its next president and CEO on Thursday after the stock market closed.
Persons: Elliott Hill, John Donahoe, , he's, Elliott Organizations: Nike, Service, Business
The Fed cut rates by a half percentage point on Wednesday, surprising some traders who anticipated a quarter-point reduction. S & P 500 and Nasdaq-100 futures were also up sharply, boosted by gains in tech. Data shows gains ahead And the data shows if a recession is avoided, Fed rate cuts lead to strong gains for stocks. The rate cut also took place with the S & P 500 trading around record levels. "Over the past 40 years, the Fed has cut rates 12 times with the S & P 500 within 1% of an all-time highs.
Persons: Canaccord Genuity, Tom Essaye, BTIG, Jake Fuller Organizations: Federal, Federal Reserve, Dow, Dow Jones, Nasdaq, JPMorgan
Bank of England holds interest rates steady after August cut
  + stars: | 2024-09-19 | by ( Jenni Reid | ) www.cnbc.com   time to read: +1 min
Commuters cycles past the Bank of England (BOE), left, in the City of London, UK, on Monday, Sept. 16, 2024. The central bank's Monetary Policy Committee's interest rate decision is scheduled for release on Sept. 19. LONDON — The Bank of England on Thursday said it would hold interest rates steady following its initial cut in August, even after the U.S. Federal Reserve opted for a jumbo rate cut the day before. The Monetary Policy Committee voted by 8 to 1 to hold, with the dissenting member voting for a 0.25 percentage point cut. Many strategists had expected a smaller 25 basis point cut at the September meeting, despite market pricing through this week pointing to more than 50% probability of the more aggressive option.
Persons: BOE Organizations: Bank of England, City of, LONDON, U.S . Federal, Monetary, U.S . Federal Reserve Locations: City, City of London, U.K
But after Wednesday's big 50 basis point cut, Lee says he sees uncertainty looming ahead of the election. AdvertisementProminent stock market bull Tom Lee has long called for a big rally after the Federal Reserve cuts interest rates. But after a big 50 basis point cut on Wednesday, Lee says he's feeling cautious ahead of the November election. That rally would happen regardless of a 25 or 50 basis point cut, he said, if the Fed suggested future cuts are likely. With election-related volatility ahead, Lee recommends investing in cyclical stocks in areas like industrials, financials, and small caps.
Persons: Tom Lee, Lee, , SoFi's Liz Young Thomas Organizations: Federal Reserve, Service, Fundstrat Global Advisors, CNBC, Fed, Business
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJoe Lonsdale on overregulation in tech: It's very easy to break the innovation economyJoe Lonsdale, Palantir co-founder and 8VC founding partner, joins 'Squawk Box' to discuss election interference and Big Tech, state of AI regulation, the dangers of overregulation in tech, and more.
Persons: Joe Lonsdale, Palantir Organizations: Big Tech Locations: overregulation
Introduction to the federal funds rateDefinition and purpose of the federal fund rateThe federal funds rate, or fed funds rate, is the interest rate set by the Federal Open Markets Committee. The Federal Reserve lowered the federal fund rate on September 19, 2024, to stop aggressive inflation and prevent a recession. Today, the federal fund rate is 5.00%, with the federal fund target rate being 4.75% to 5.00%. How the federal funds rate worksThe federal funds rate, or the overnight rate, is the interest commercial banks charge when they lend money to one another for extremely short-term periods — literally, overnight. Federal funds rate FAQsWhat happens when the federal funds rate is high?
Persons: Karen Fernandez Tessa Campbell, Tessa Campbell, Tessa, she’s Organizations: Federal Reserve, Federal, Federal Open Markets, Fed, Market, Fed's, Governors, Federal Reserve Bank, Susquehanna University
Edward Frazer and Sam Brashears have built software together since fourth grade, and that's exactly what they'll start with if you're a venture capitalist listening to their pitch for funding. The two 22-year-old cofounders and longtime friends started developing the API integration software known as DryMerge last year. "Sam and I have spent more time with each other than anyone else except probably our families, so we're just really, really good friends." When evaluating team risk, VCs also look for whether the co-founders can build the product the way they envision it. Here's the eight-page pitch deck that Frazer and Brashears used to secure their $2.2 million seed round for DryMerge.
Persons: Edward Frazer, Sam Brashears, Frazer, Slack, DryMerge, Sam, Brashears, VCs, they've Organizations: Service, Business, Garage Capital, Goodwater, Ritual, Yale University, University of Wisconsin Locations: Madison
So far, there is no evidence indicating the suspect was motivated or instructed by foreign elements to target Trump. But prosecutors and investigators have made clear that they view the incident as an apparent plot to kill the former president and are working to build a case with those additional charges. He had not made any threats, for instance, against the president or former president Trump,” Berger said. “You are free to assassinate Trump,” Routh also wrote of Iran in the apparently self-published book. Those posts, on their own, would likely not be enough to charge Routh with attempting to assassinate Trump, according to Aronberg.
Persons: Donald Trump, Ryan Wesley Routh’s, Routh, Routh didn’t, Ryan Routh, David Aronberg, ” Aronberg, , Chelsea Walsh, Walsh, Katrina Berger, Berger, Trump, ” Berger, HSI, Butler, , ” Routh Organizations: CNN, Federal, Trump, FBI, Service, . NY, Beach, Customs, Border Patrol, Security Investigations, HSI, Capitol, Global Citizen Locations: Florida, Trump, West Palm Beach , Florida, North Carolina, Hawaii, Ukraine, Kyiv, Butler , Pennsylvania, Iran, Taiwan, North Korea, Afghanistan, Tehran, Moscow,
CNN —Former President Donald Trump said Thursday that “the Jewish people” would be partially to blame if he loses in November, escalating his persistent campaign trail criticism of Jewish voters and insisting that Democrats hold a “curse” over them. But the former president appeared preoccupied with what he described as ingratitude from Jewish voters, whom he said should be supporting him in greater proportions because of his record on Israel. Still, Trump has repeatedly cast his rival as “anti-Israel” and “anti-Jewish.”“You have to defeat Kamala Harris more than any other people on earth,” Trump said, addressing the Jewish voters in the audience. You want to control your politicians, that’s fine,” Trump said at the Republican Jewish Coalition in December 2015. “I’m a negotiator like you folks, we are negotiators.”But Trump’s open frustration with Jewish voters became a more frequent theme in the aftermath of his 2020 election defeat.
Persons: Donald Trump, “ I’m, Trump, Kamala, Harris, Miriam Adelson, , ” Trump, , Israel haters, ” Harris, Israel, Harris’s, Doug Emhoff, Israel ”, Kamala Harris, I’ve, Jose Luis Magana, Amy Spitalnick, footballs, ” Spitalnick, , “ You’re, Benjamin Netanyahu Organizations: CNN, Republicans, Jewish Democratic, , , Israel, Jewish, Democrats, Democrat Party, Democratic, Biden, American, Abraham Accords, Jewish Council, Public Affairs, American Jewish, Republican Jewish Coalition, Israeli, Hamas Locations: Washington, Israel, Gaza, Jerusalem, Iran, “ Israel, Washington ,, New York, American, United States, U.S, ” “ U.S
I take my family to chain restaurants in search of good value. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . At the same time, rising fast-food prices seem to only be making sit-down chains look like a way better value. Although I was never a big fan of sit-down restaurant chains, I recently began taking my family of four out to eat at them more often in search of good food and great value.
Persons: Organizations: Hooters, Service, Business
At its much-anticipated meeting Wednesday, the Fed approved a half percentage point, or 50 basis point, cut to its benchmark funds rate that ran counter to the 25 basis point move that many Wall Street economists and strategists had been expecting. The benchmark fed funds rate now stands at 4.75% to 5.00% after Wednesday's move. Futures market pricing Thursday suggested a 25 basis point move in November followed by a 50 basis point cut in December, according to the CME Group's FedWatch. A basis point equals 0.01%. "Ultimately what we found most important in what Powell said was also among the least surprising things he said: future decisions are going to depend on the data," Feroli wrote.
Persons: Michael Feroli, Feroli, Jerome Powell, Powell Organizations: Federal Reserve, JPMorgan, Fed, Street Locations: U.S
“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
In my nearly six years with the company, I worked in almost all of the Apple Store locations in the Dallas-Forth Worth area. Launch day preparations began a week ahead. They wanted to keep launch day special, with first reactions being from actual customers instead of Apple employees. Pretty much everyone was a salesperson on launch day. AdvertisementAnd then there were those who came in after launch day by accident — they were more interested in testing out the phones to see what they were all about.
Persons: , weren't, We'd, You've, Apple Organizations: Service, Apple, Business, Apple Intelligence Locations: Texas, Dallas, Forth Worth, bro, California
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Salesforce was having a strong session as well, taking in stride the late-day Wall Street Journal report that Disney will no longer use Salesforce-owned Slack after a data hack. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street.
Persons: Jim Cramer, Dow, Jim Cramer's, Lisa Su, Salesforce, Slack, Procter & Gamble, Jim Organizations: CNBC, Federal Reserve, Nasdaq, Tech, Devices, Journal, Disney, Barclays, Treasury, Procter, Fed, FedEx, Jim Cramer's Charitable Locations: Procter &
FedEx reported a steep quarterly profit drop and lowered its full-year revenue forecast on Thursday after its customers continued to trade down from speedy, pricey delivery to cheaper, slower options. Shares in the Memphis-based delivery giant tumbled almost 11% to $267.74 in after-hours trading, dragging shares in rival United Parcel Service down 2.5%. The shift to less-profitable packages is squeezing profits at FedEx and UPS. Subramaniam is leading a complex restructuring at FedEx that involves slashing billions of dollars in overheads and merging its separate Ground and Express delivery units. On an adjusted basis, profit fell to $3.60 per share from $4.55 per share a year ago.
Persons: Raj Subramaniam, Subramaniam Organizations: FedEx, United Parcel Service, UPS, Reuters, Federal, United States Postal Service, FedEx Freight Locations: Memphis, China, Shein, U.S
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
“Kamala Harris isn’t talking about the historic nature of this,” Walz, the Democratic running mate, told supporters here at a rally. But the strategies of both sides have overlapping objectives, with Trump working to widen his advantage with White men while making gains among young Black and Latino voters. “They both have their qualities, they both have their flaws,” said Hernandez, a North Carolina voter who is torn between Trump and Harris. But the Trump campaign is also targeting many of the same voters, particularly young men whose decision whether to vote – and for whom – could be a turning point in the election. Women make up a slim majority of the electorate, but the degree to which Trump can hold onto male voters could determine the outcome of the November election.
Persons: Kamala Harris, Donald Trump, Harris, It’s, Tim Walz’s, “ Kamala Harris isn’t, ” Walz, , Walz, Trump, White, Anthony Hernandez, Hernandez, , ” Hernandez, “ It’s, , Joe Biden, JD Vance, Tobey Pierce, ” Pierce, it’s, Alex Vigil, Kevin Miller, Miller, ” Miller, Harris ’, Minnesota Sen, Amy Klobuchar, Kareem Rahma Organizations: North Carolina CNN, Minnesota Gov, Democratic, CNN, , , North, Trump, Republicans, International Brotherhood of Teamsters, Packers, Vikings, Minnesota, Democratic National Convention Locations: Asheville, North Carolina, Trump, Hendersonville, Wisconsin, , Superior , Wisconsin, McDonald’s, Los Angeles
Talen's surge comes on the back of its deal to sell a data center campus to Amazon Web Services and supply the facility with nuclear power from the Susquehanna station northwest of Allentown, Pennsylvania. The deal is viewed as a trailblazing agreement for the power industry, and Wall Street has taken notice. A year ago, Talen was not covered by any Wall Street analysts, according to FactSet data. And Talen's assets are located almost entirely in the PJM grid, a predominantly mid-Atlantic region where power prices are expected to explode as demand outstrips supply due in part to growing data center load. Data center developers are expected to spend $250 billion annually on data centers, Barclays analyst Nicholas Campanella said in a note this week.
Persons: Talen, Shahriar Pourreza, Pourreza, TLN, William Appicelli, Nicholas Campanella, Campanella, amortization, Appicelli Organizations: Talen Energy Corporation, Amazon Web Services, Street, Barclays, Guggenheim, Jefferies, UBS, Susquehanna, Talen Energy, AWS, American Electric Power, AEP, Federal Energy Regulatory Commission Locations: Susquehanna, Allentown , Pennsylvania, Wednesday's
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
Historian John McManus rates the accuracy of World War II battles in movies and TV shows. He describes the many challenges of the Battle of Okinawa as portrayed in "Hacksaw Ridge," starring Andrew Garfield, Vince Vaughn, and Sam Worthington. He compares the portrayals of the Battle of Iwo Jima in Clint Eastwood's "Flags of Our Fathers," starring Ryan Phillippe, Adam Beach, and Paul Walker; and "Letters From Iwo Jima," starring Ken Watanabe. He discusses World War II-era munitions in "The Pacific," starring Joseph Mazzello and Rami Malek. He breaks down the tank battles in "Battle of the Bulge," starring Henry Fonda and Charles Bronson.
Persons: John McManus, Austin Butler, Barry Keoghan, Andrew Garfield, Vince Vaughn, Sam Worthington, Clint Eastwood's, Ryan Phillippe, Adam Beach, Paul Walker, Ken Watanabe, Joseph Mazzello, Rami Malek, Michael Bay's, Ben Affleck, Josh Hartnett, Alec Baldwin, Nicolas Cage, Mark Ruffalo, Henry Fonda, Charles Bronson, Sean Penn, Jared Leto Organizations: Business Locations: Okinawa, Iwo Jima
China tested a next-generation fighter jet on its CNS Liaoning aircraft carrier. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementChina said it tested its next-generation J-35 fighter jet on one of its aircraft carriers. Footage published by China Central Television last week documented the test, which occurred on the CNS Liaoning aircraft carrier.
Persons: Organizations: Liaoning, Service, China Central Television, Business Locations: China
The game might be a little hard to find on TV, so we've put together everything you need to know about how to watch the Atlanta Dream vs. New York Liberty online. The New York Liberty leads the league this year with an impressive 32-7 record. Right now, the Atlanta Dream is in the elusive eighth spot in the league, meaning they're tentatively matched up with New York for the Playoffs. How to watch Atlanta Dream vs. New York Liberty in the USThe Atlanta Dream vs. New York Liberty game will air on Thursday at 7 p.m. How to watch Atlanta Dream vs. New York Liberty from anywhereBasketball fans traveling outside the US can keep up with their streaming subscriptions with the help of a VPN (virtual private network).
Persons: we've, they'll, ExpressVPN Organizations: Business, New York Liberty, Atlanta, The New York Liberty, Liberty, Chicago Sky, Washington Mystics, Sky, Washington, Mystics, Chicago, NBA, MLB Network, Tennis Channel, Basketball Locations: New, Atlanta, New York
With that seasonal volatility in mind, Evercore ISI screened for stocks that may continue to outperform in the current climate. The investment bank combed through the Russell 3000 for stocks that are in the top quintiles for momentum, sentiment and buybacks. One company that made the Evercore ISI screen was mobile tech company AppLovin . Evercore ISI also highlighted Sprouts Farmers Market as a potential outperformer. Evercore ISI upgraded Sprouts to outperform from in line this week.
Persons: Russell, LSEG, BTIG, Benjamin Budish, Robinhood, Michael Montani Organizations: Stock, Federal, UBS, FactSet, Financial, LSEG, Barclays, ISI
Anna Moneymaker | Getty Images News | 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. By contrast, the prevailing sentiment among experts was that a 25-point cut was more likely, according to a CNBC survey. And he was likely aware that a bigger-than-usual cut might connote that the Fed's worried about the economy. "I don't see anything in the economy right now that suggests that the likelihood of a recession, sorry, of a downturn, is elevated," Powell said.
Persons: Jerome Powell, William McChesney Martin Jr, Anna Moneymaker, Jerome Powell's, Powell, Jeff Cox, Yun Li, Hakyung Kim, Samantha Subin Organizations: Federal, Federal Reserve, Getty, CNBC, Dow Jones, Nasdaq Locations: Washington , DC
The 10 unhappiest states in the US, ranked
  + stars: | 2024-09-19 | by ( Mykenna Maniece | ) www.businessinsider.com   time to read: +1 min
The study compared the 50 states using categories like emotional and physical well-being. Louisiana was ranked the unhappiest state in the country. Go to newsletter preferences Thanks for signing up! AdvertisementWhile it's hard to articulate exactly what happiness means to everyone, one of WalletHub's most recent studies aimed to do just that: measure and compare the population's happiness across states. The personal-finance outlet compared the 50 states using three categories: emotional and physical well-being, work environment, and community and environment.
Persons: WalletHub, Organizations: Service, Business Locations: Louisiana
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