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☆ Forget Nvidia? These 2 little-known chip stocks have over 100% upside, Jefferies says
▼ + stars: | 2024-09-18 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

However, investment bank Jefferies is drawing attention to two lesser-known chip stocks that it believes could rise by more than 100%: Aixtron and Ams OSRAM . Looking ahead, analysts at Jefferies pointed to the ongoing recovery in the semiconductor industry, with global chip sales growth accelerating to 18.7% year-over-year in July. Jefferies expects shares of Aixtron to rise by 115% to 35 euros ($38.80) a share over the next 12 months. The stock is also traded in the U.S. AIXXF 1Y line Ams OSRAM Ams OSRAM , an Austrian-German semiconductor company, recently completed the issuance of 200 million euros ($222.73 million) in senior notes, yielding 10.5% in coupon payments to replace other short-term debt due in 2024. The analysts expect shares of Ams OSRAM, listed on the Swiss stock exchange, to rise 179% over the next 12 months to 2.4 Swiss francs ($2.83).

Persons: TSMC, Jensen Huang, Blackwell, Goldman Sachs, Huang, Jefferies, Janardan Menon, Infineon, Aixtron Organizations: Nvidia, ASML, Jefferies, Ams OSRAM, The SOX Semiconductor, Nvidia's, Infineon, IFX, HVP, Ams Locations: Germany, Infineon, Aixtron, U.S, Austrian

☆ OpenAI's power players: Meet the 20 leaders helping shape the future of the AI giant
▼ + stars: | 2024-09-18 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +18 min

Last November, the sudden ouster of CEO Sam Altman and the resulting revolt by most of its employees cast doubts on the future of the world's most prominent AI company. While by no means a comprehensive list, below are some of the key power players who are helping to determine OpenAI's future. He took over for his former boss, Jason Kwon, who has since become the company's chief strategy officer. She's also been referred to as OpenAI's "minister of truth" for her efforts to ensure the company's AI products aren't deceptive or biased. ResearchJakub Pachocki, Chief ScientistRelated storiesPachocki joined OpenAI's research in 2017 after completing a PhD in computer science at Carnegie Mellon University.

Persons: —, Sam Altman, OpenAI, Sarah Friar, Friar, Goldman Sachs, She's, Jason Kwon, Kwon, Anna Makanju, Global Affairs Chris Lehane, Che Cheng, OpenAI's, Cheng, Mira Murati, Murati, Kevin Weil, Weil, Instagram, Peter Welinder, Peter Deng, Research Jakub Pachocki, Pachocki, Ilya Sutkever, Ilya, Mark Chen, Chen, Bob McGrew, Sam Altman's, Lilian Weng, Weng, Aleksandr Madry, Barret Zoph, John Schulman, Zoph, Alec Radford, Radford, Zico Kolter, Kolter, Paul Nakasone, Bret Taylor, Taylor, He's, Larry Summers, Fidji Simo, Melinda Gates, Nicole Seligman, Adam D'Angelo, Quora, Altman, D'Angelo, Andrea Appella, Haidee Schwartz, Schwartz, Akin Gump, She'll, Heather Whitney, Whitney, Morrison Foerster, Makanju, Sam, Biden, Chris Lehane, Lehane, Clinton Organizations: Service, OpenAI, Business, Microsoft, Apple, Google, Khosla Ventures, Global, Global Affairs, Amazon, supercomputing, Tesla, Meta, Twitter, ChatGPT Enterprise, Research, Carnegie Mellon University, MIT, Facebook, Security, Machine Learning Department, Carnegie Mellon Carnegie Mellon, Stanford, CMU, Safety, Security Committee, US Army, NSA, US Cyber Command, Defense Department, U.S, Melinda Gates Foundation, Global Competition, Netflix, Century Fox, Competition, Federal Trade Commission, New York Times, Harvard Law School, University of Chicago Law School, NYU, Canada, Global Policy, Public Affairs, House, Newsweek Locations: Europe, Washington, OpenAI, Silicon, Middle East, Asia, London, Chan, Airbnb

☆ These are the stocks that do best immediately after the first Fed rate cut of a cycle
▼ + stars: | 2024-09-18 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

The Federal Reserve is expected to make its first rate cut in just a few short hours, so CNBC Pro took a look at what stocks historically do best immediately after the start of an easing cycle. CNBC Pro searched for the stocks set to gain the most following a Fed rate cut, using data from prior easing cycles going back to 1984. Historically, Apple is up about 16% on a median basis three months after an initial cut from the Fed. Technology names tended to do well immediately after a Fed rate cut, with digital storage company Western Digital the top-performing stock, and semiconductor equipment company Lam Research the second-best performing one. Three months after a Fed rate cut, Western Digital gained more than 26% on a median basis, while Lam Research advanced more than 22%.

Persons: — Organizations: Federal, CNBC Pro, Dow Jones, Apple, Western Digital, Lam Research, Kroger

☆ Meet the ex-Googler joining Goldman Sachs to build tech and cut costs for its investment banking and trading business
▼ + stars: | 2024-09-18 | by ( Bianca Chan | ) www.businessinsider.com time to read: +8 min

As the incoming global head of technology engineering for Goldman Sachs' global banking and markets division, the ex-Googler will run the engineering team for Goldman's investment banking and sales and trading units. And lots of different challenges in the space given how much is being invested in this particular business," Goldman told Business Insider, referring to efforts to build systems that can handle the firm's anticipated growth in a compliant and resilient way. Goldman Sachs' core business of advising companies through mergers, acquisitions, and raising capital, has come under the spotlight recently as investment-banking activity continues to be slow. AdvertisementWith an anticipated decline in trading volumes across Wall Street, Goldman's sales and trading business will continue to lean on technology to win market share among institutional investors. During her first stint at Goldman, she managed various tech teams and was named managing director in 2008.

Persons: Melissa Goldman, Goldman Sachs, Goldman, she's, couldn't, You've, I'm, I've Organizations: Service, Goldman, Google, JPMorgan, Wall, Big, Bank of America Locations: Wall, Bermuda, Big Tech

☆ Where the tech trade could head now that the Fed is cutting
▼ + stars: | 2024-09-18 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Markets are gearing up for a long-awaited rate cut from the central bank Wednesday after more than two years of aggressive hiking to stem the spread of sticky inflation. Apple has been another big winner following a rate cut, rising a median of 16.2% in the past. To be sure, not every technology stock is destined for upside in the face of a cutting cycle. The stock has fallen a median of nearly 14% in the three months following an initial cut. Other potential losers following a rate cut include Analog Devices , Teradyne and IBM .

Persons: bode Organizations: Federal, Nasdaq, CNBC, Digital, Apple, Apple Intelligence, Nvidia, Micron Technology, Micron, Devices, IBM

☆ Here are Wednesday's biggest analyst calls: Nvidia, Apple, Meta, Marriott, Starbucks, Roku & more
▼ + stars: | 2024-09-18 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Wednesday's biggest calls on Wall Street: Stifel initiates Penumbra as buy Stifel said it's bullish on shares of the medical device company. Bank of America reiterates FedEx as buy Bank of America lowered its price target to $345 per share from $347 but said it's bullish heading into earnings next week. " Bank of America reiterates TJX Companies, Burlington and Ross as buy Bank of America said the off-price retailers are best positioned for younger generations. Bank of America reiterates Starbucks as buy The firm said it's standing by shares of the coffee giant. Bank of America reiterates Alphabet, Meta, Amazon and Uber as buy Bank of America said the internet tech companies are the best way for "more defensive positioning."

Persons: Stifel, it's, Bernstein, Apple, Morgan Stanley, Tesla, BTIG, JPMorgan, Wells, Wolfe, Ross, ROST, Goldman Sachs, Goldman, Needham, Uber, William Blair Organizations: PEN, HSBC, KKR, Co, Apple, Bank of America, FedEx, GE Healthcare, UBS, Talen Energy, JPMorgan, Civitas Resources, Micron, MU, Barclays, TJX Companies, BURL, Marriott, Computer, Guggenheim, Sirius XM, " Bank of America, Google, Nvidia, Broadcom Locations: China, Burlington, InfiniBand

☆ Oil prices steady, with investors focusing on Fed decision
▼ + stars: | 2024-09-18 | by ( ) www.cnbc.com time to read: +2 min

Oil prices steadied on Wednesday, after rising in the previous two sessions, as investors await the U.S. Federal Reserve's anticipated interest rate cut, with the potential for more violence in the Middle East supporting the market. "Markets have calmed down as concerns over hurricane damage and escalating tensions in the Middle East have been factored in," said Mitsuru Muraishi, an analyst at Fujitomi Securities. "Now, investors are focusing on the Fed's rate cuts which could revitalize U.S. fuel demand and weaken the dollar," he said, predicting that oil prices are likely to maintain a bullish tone after Brent hit its lowest since 2021 last week. Traders kept bets the Fed will start an expected series of interest rate cuts with a half-percentage-point move downward on Wednesday, an expectation that may itself put pressure on central bankers to deliver just that. Oil stockpiles rose by 1.96 million barrels in the week ended Sept. 13, according to market sources citing the API figures, but gasoline and distillate stocks both rose by about 2.3 million barrels.

Persons: Hurricane Francine, Mitsuru Muraishi, Brent, Biden Organizations: U.S, U.S . Federal, Brent, Fujitomi Securities, Traders, Strategic Petroleum Reserve, American Petroleum Institute, Reuters, U.S . Energy Locations: U.S ., U.S, Israel, Lebanon, Beirut

☆ The stock market got just what it wanted from the Fed
▼ + stars: | 2024-09-18 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The Fed just issued its first interest rate cut in four years. AdvertisementStocks got a brief leg up to a new intraday record on Wednesday after the Federal Reserve issued its first rate cut since 2020. "The Fed has given the market what it was looking for with the bigger 50-basis point rate cut," Joel Kruger, market strategist at LMAX Group said in a statement. Here's where US indexes stood at the 4 p.m. closing bell on Wednesday:AdvertisementStocks have historically reacted well to Fed rate cuts. "All we needed today was for Powell to validate market expectations that the Fed is acknowledging the downside risks to the labor market and responding appropriately."

Persons: Stocks, —, Jerome Powell's, Joel Kruger, Morgan Stanley, Kruger, Tom Lee, Priya Misra, Powell, Jason Pride Organizations: Service, Federal Reserve, LMAX, JPMorgan Asset Management Locations: Glenmede

☆ The Fed is poised for its first rate cut in years, but it may be too soon to refinance your mortgage
▼ + stars: | 2024-09-18 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

The Federal Reserve is poised to make its first interest rate cut in years on Wednesday. While mortgage rates are partly influenced by the Fed's policy, they are also tied to Treasury yields and the economy. Home loan rates have already started to come down in recent weeks, slightly induced in part by favorable economic data and indications the Fed could cut rates. As of Thursday, Sept. 12, the average 30-year fixed rate mortgage in the U.S. was 6.20%, according to Freddie Mac data via the Fed. "It's almost impossible to figure out what mortgage rates are going to do from week to week or month to month," Ostrowski said.

Persons: Chen Zhao, Freddie Mac, Jeff Ostrowski, Ostrowski Organizations: Federal, CNBC, Treasury, Finance Locations: Redfin, U.S

☆ Gold flat as investors focus on Fed
▼ + stars: | 2024-09-18 | by ( ) www.cnbc.com time to read: +2 min

Gold prices were flat on Wednesday as investors weighed chances of an outsized interest rate cut by the Federal Reserve later in the day. Gold prices were flat on Wednesday as investors weighed chances of an outsized interest rate cut by the Federal Reserve later in the day. The Fed is expected to announce a cut to interest rates for the first time in more than four years at 1800 GMT. Markets are now pricing in a 65% chance of a 50-basis-point rate cut, compared with 34% a week earlier, according to the CME FedWatch tool. Zero-yield bullion tends to be a preferred investment in a lower interest rate environment and during geopolitical turmoil.

Persons: Jerome Powell, Matt Simpson, let's Organizations: Federal Reserve, Index Locations: ., Lebanon

☆ Amazon's RTO commandment and the office work shibboleth
▼ + stars: | 2024-09-18 | by ( Alistair Barr | ) www.businessinsider.com time to read: +7 min

In those ancient times, tech companies embraced remote work as an unstoppable innovation revolution. Remote work benefitsRemote work supports a more diverse employee base by helping companies hire more easily in different locations. In December, she described a study that found collaborating in person produced more breakthroughs than remote work. The truth is that in-office work is a shibboleth. But Benioff is at least admitting the reality of how employees work in the modern world.

Persons: —, Marc Benioff, they're, Andy Jassy, Insider's Aki Ito, Jassy, Goldman Sachs, David Solomon, Solomon, James Hamilton, he'd, I've, it's Organizations: Service, Amazon, Business, Google, Jassy's AWS, BI, Employees, Hamptons, Bloomberg, Fortune, Starbucks, Staff Locations: Seattle, Hawaii

☆ European markets set for lower open as investors weigh UK inflation data
▼ + stars: | 2024-09-18 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

Italy's FTSE MIB meanwhile was set to fall by around 39 points to 33,784. LONDON — European markets were headed for a lower open on Wednesday as investors considered key data from the region and looked to the U.S. Federal Reserve interest rate decision. In Europe, U.K. inflation figures for August were published Wednesday, coming in at 2.2% according to data from the Office for National Statistics. The data comes ahead of the Bank of England meeting and interest rate policy decision scheduled for later this week. The Fed is all but guaranteed to announce an interest rate cut on Wednesday, which would be its first since it started hiking rates in March 2022.

Persons: Germany's DAX Organizations: CAC, LONDON, U.S . Federal, Office, National Statistics, Bank of England, Bank of Japan, U.S . Federal Reserve, Traders Locations: Europe, Asia, Pacific

☆ Traders got their big-rate-cut wish and markets still couldn't rally
▼ + stars: | 2024-09-18 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Wall Street got the big rate cut it wanted, but markets failed to sustain a rally. The Federal Reserve on Wednesday cut its key overnight lending rate by a half percentage point . Ryan Sweet, chief U.S. economist at Oxford Economics, noted that the half-point cut suggests slowing growth is increasingly concerning Fed policy makers. "The Fed is likely worried that labor demand would weaken more, causing additional stress points in the labor market." "A larger cut probably was not needed out of the gate, but that should support risk-on asset allocation."

Persons: Ryan Sweet, Sweet, Nancy Tengler, Tengler, Scott Helfstein, Jeff Cox, Michelle Fox Organizations: Federal Reserve, Oxford Economics, Fed, Global

☆ It's not just the rhetoric — apathy and jokes could be fueling a spiral of retaliatory political violence, expert warns
▼ + stars: | 2024-09-18 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +6 min

And an expert in political violence and terrorism is worried the worst is yet to come. The justification of political violence online is getting worse, too, with increasingly high-profile people laughing off violent incidents. Plenty of such data exists about Trump's rhetoric, Pape noted, and he said there is no doubt that "incendiary political rhetoric increases support for political violence." "What you're seeing is real-world violence reflecting this significant rhetorical support for political violence on both the right and the left," Pape said. "There is an incentive to do what we know stokes support for political violence.

Persons: —, Robert Pape, Pape, Nancy Pelosi's, Barack Obama's, Donald Trump's, Steve Scalise, Elon Musk, Sunday's, Trump, haven't, Joe Biden, Kamala Harris, Musk, snickering, " Pape, he's, Biden, stokes Organizations: Service, World Justice, Democratic, GOP, Business, Democrat, Republican, Marist, PBS, Chicago Project, Security, University of Chicago, Department of Justice, Congressional, Trump, Republicans Locations: Louisiana, Butler , Pennsylvania, —

☆ Powell: We're not discarding any piece of economic data
▼ + stars: | 2024-09-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPowell: We're not discarding any piece of economic dataFederal Reserve Chair Jerome Powell takes questions from reporters after announcing that the Central Bank has lowered interest rates by half a point, its first cut since 2020.

Persons: Powell, We're, Jerome Powell Organizations: Central Bank

☆ Cramer says these 4 stocks are 'very clear winners' of the AI data center buildout
▼ + stars: | 2024-09-18 | by ( Morgan Chittum | ) www.cnbc.com time to read: +1 min

That list includes Vertiv , GE Vernova, Trane and Eaton , which Jim Cramer described as "all very clear winners" of the increased spending on the fast-growing technology. GE Vernova, for example, creates power solutions to help data centers operate in a more environmentally friendly and sustainable way. That's because data centers require an immense amount of electricity usage to run properly, and that need is expected to intensify as more facilities are built. "That's almost a pure play on the data center," Cramer said of GE Vernova, describing shares as "one of the great horses of the year." It's a similar story for Trane, Vertiv and Eaton, which all sell products that service data centers.

Persons: Jim Cramer, Cramer, It's, Eaton, Microsoft Corporation Satya Nadella, Chalinee Thirasupa Organizations: BlackRock, Microsoft, GE Vernova, GE, General Electric, Charitable Trust, Microsoft Corporation Locations: Trane, Eaton, Vertiv, Bangkok, Thailand

☆ Japan's exports slow sharply, machinery orders shrink in blow to economic recovery
▼ + stars: | 2024-09-18 | by ( ) www.cnbc.com time to read: +2 min

He said a boost from the weak yen to exports has faded as the Japanese currency rebounded sharply in August. Total exports rose 5.6% year-on-year in August, up for a ninth straight month, data showed on Wednesday, well below a median market forecast for a 10% increase and following a 10.3% rise in July. Exports to the United States dipped 0.7%, the first monthly decline in nearly three years, as auto sales slumped 14.2%. Those to China, Japan's biggest trading partner, rose 5.2% in August from a year earlier. The value of imports grew 2.3% in August from a year earlier, versus a 13.4% increase expected by economists.

Persons: Takeshi Minami Organizations: Asahi, Co, Bloomberg, Getty, U.S, Norinchukin Research Locations: Hekinan, Aichi Prefecture, Japan, U.S, China, United States

☆ Georgia is rich in EV money and jobs
▼ + stars: | 2024-09-18 | by ( John Towfighi | ) www.businessinsider.com time to read: +6 min

Since 2022, the Peach State has added over 30,000 clean energy jobs, more than any other state, according to a June study by Climate Power, a strategic communications firm. The Bipartisan Infrastructure Law allocated over $175 million toward the EV battery supply chain in Georgia and $135 million over five years toward infrastructure for EV charging stations in Georgia. Investments in EV and battery manufacturing will boost job growth and output in both of these sectors, Benson said. Strong population growth remains a tailwind for Georgia's economic growth and EV industry, Benson said. Between 2021 and 2022, there were 327,795 people who moved into Georgia, according to data from the Census Bureau.

Persons: —, Wells, Jackie Benson, Brian Kemp, It's, Biden, Benson Organizations: Service, Business, Peach State, Climate Power, Investments, Atlanta -, EV, Atlas Public, Environmental Defense Fund, Biden Administration, Law, Infrastructure Law, Hyundai, Kia, The Peach State Locations: Georgia, Wells, Atlanta, Georgia , Alabama, North Carolina, South Carolina, Tennessee, Michigan, West Point , Georgia, Wells Fargo, Florida , Texas , California, California, Texas

☆ Treasury yields inch higher as investors look to Fed rate decision
▼ + stars: | 2024-09-18 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

The 2-year Treasury yield was last at 3.6046% after adding over one basis point. U.S. Treasury yields were little changed on Wednesday as all eyes were on the Federal Reserve's interest rate decision expected for later in the day. The focus on Wednesday will be on the Federal Reserve's latest interest rate decision and guidance for the monetary policy outlook. While a interest rate cut is all but guaranteed, traders are divided about the size of the rate reduction. Investors are also hoping for hints about what Fed interest rate policy could look like for the remainder of the year and if more cuts are on the horizon.

Persons: Jerome Powell, Dow Jones Organizations: Treasury, Federal, Investors

Mortgage rates have dropped substantially in recent weeks, with 30-year rates now almost 40 basis points down from where they started the month. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's interest rates will affect your monthly payments. Current 30-Year Mortgage RatesAverage 30-year mortgage rates have gone down this week and are now hovering below 5.60%, according to Zillow data. Mortgage rates are determined by a variety of different factors, including larger economic trends, Federal Reserve policy, your state's current mortgage rates, the type of loan you're getting, and your personal financial profile. Because markets are already anticipating that the Fed will lower rates, mortgage rates might not drop much in response to a Fed rate cut.

Persons: it's, refinance, you'll, Freddie Mac Organizations: Federal Reserve, Zillow, Fed Locations: Chevron

☆ Apple could fall to $200 on iPhone worries and that's when you buy, says Morgan Stanley
▼ + stars: | 2024-09-18 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

Concerns about iPhone 16 lead times could send Apple shares lower in the near term, according to Morgan Stanley. This has led to the stock underperforming by an average of five points in the three months following an iPhone launch. "What will matter most over the next 10 days is the trajectory of iPhone 16 lead times, as historically iPhone lead times elongate through the first in-store availability date (Friday, September 20th) before gradually trending lower in the weeks thereafter," the analyst wrote in a Wednesday note to clients. "Therefore, a more sustained elongation in iPhone 16 lead times from today should be viewed positively, while a sharp reversal in iPhone 16 lead times after Friday would likely indicate a greater risk of negative iPhone build revisions." With 48 analysts covering the stock, 36 of them have a strong buy or buy rating, while 11 are neutral.

Persons: Morgan Stanley, Erik Woodring, Woodring, Wall Organizations: Apple

☆ WNBA to add expansion team in Portland, bringing league to 15 franchises
▼ + stars: | 2024-09-18 | by ( Jake Piazza | In | ) www.cnbc.com time to read: +2 min

The WNBA is adding its 15th team in Portland, the third new franchise as part of its most recent expansion, the league announced Wednesday. The Portland team will play in the Moda Center, the same arena as the NBA's Portland Trailblazers. Portland has had a WNBA team before, but it shut down after a few years in 2002. The addition of the new Portland team underscores booming growth for both the WNBA and women's sports in general. The 2024 WNBA season has seen record numbers for both in-person attendance and viewership, according to data from the WNBA for the start of the season.

Persons: Lisa Bhathal Merage, Cathy Engelbert, A'ja Wilson, Caitlin Clark, Angel Reese Organizations: Portland, RAJ Sports, WNBA, Moda Center, Women's Soccer League, Thorns, Sacramento Kings, Delta Air Lines Locations: Portland, Toronto

☆ UK inflation holds steady in August, matching expectations
▼ + stars: | 2024-09-18 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

Anadolu | Getty ImagesLONDON — U.K. inflation held steady during the month of August, data from the Office for National Statistics showed Wednesday, and matched analyst expectations. Headline CPI had come in at 2% in May and June, in line with the Bank of England's target rate. Services inflation — which is closely watched by the BOE, given its dominance within the U.K. economy and its reflection of domestically-generated price rises — rose to 5.6% in August from 5.2% in July. Core inflation, excluding energy, food, alcohol and tobacco, came in at 3.6%, up from the 3.3% recorded in July. "Despite recent data showing a stagnation in UK economic output and easing wage growth, core inflation remains sticky, with services inflation rising from 5.2% to 5.6% which will weigh heavily on the BOE's decision-making," Carter said in a note.

Persons: BOE, Richard Carter, Cheviot, Carter Organizations: Anadolu, Getty, Office, National Statistics, Headline CPI, Bank of, U.S . Federal Reserve

☆ The Fed has waited four years to cut rates. But it’s still a tough call
▼ + stars: | 2024-09-18 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

It’s also a sign of confidence from Fed officials that inflation has come under control just enough to comfortably dial back policy. Typically, in the lead-up to a Fed policy decision, Wall Street and economists are in alignment on what to expect. But investors’ wagers for a half-point cut ramped up on Monday; and as of Tuesday afternoon, federal funds futures contracts were pricing in a 63% chance of a jumbo rate cut, up from around 30% on Thursday, according to the CME Group. As inflation skyrocketed in 2021 and 2022, American employers pumped out jobs and the unemployment rate declined to half-century lows. The Fed eventually responded to the country’s inflation problem with its bitter medicine of high interest rates.

Persons: It’s, Christopher Waller, Elizabeth Warren, Robert Kaplan, Bill Dudley, ”, Powell, ” Gregory Daco, “, ” Julia Hermann Organizations: Washington CNN, Federal Reserve, Street, CME, Fed, Democratic, Dallas Fed, CNBC, Former New York, Bloomberg, Dow, Labor, New York Life Investments, CNN

☆ The Fed goes big — a nice jumpstart to lowering mortgage rates and boosting housing plays
▼ + stars: | 2024-09-18 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

The Fed was widely expected to lower short-term interest rates, but the 25 basis points versus 50 debate raged right up until the announcement. Mortgage rates: We talked last week during our September Monthly Meeting about how housing activity can start to pick up when mortgage rates fall off their cycle highs to somewhere in the range between 5% and 6.5%. However, what the data shows is how sensitive activity is to every dip in mortgage rates. 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.

Persons: Jim Cramer, Jerome Powell, Stanley Black, Decker, Mortgage Banks, Jim Cramer's, Lisa Su, Oliver Garden, Jim Organizations: CNBC, ., Federal Reserve, Stanley, Mortgage, Micro, LongHorn, Darden, Jim Cramer's Charitable

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