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☆ CNBC Daily Open: October’s gravity bringing stocks down
▼ + stars: | 2024-10-04 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Michael M. Santiago | 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. But gravity is catching up with stocks in October, which tends to be a volatile month. If the number of jobs added comes in higher than expected, markets are likely to react well. With the jobs report out in about 12 hours, it's too late for second guessing, in any case.

Persons: Michael M, Dow Jones, David Kelly, Kelly, it's, –, Jeff Cox, Alex Harring, Pia Singh Organizations: New York Stock Exchange, Santiago, CNBC, Dow Jones Industrial, Nasdaq, Nvidia, Dow, U.S . Federal Reserve, Asset Management Locations: New York City

The news is a particular blow to Vice President Kamala Harris, since the union was the first to endorse Joe Biden's presidential bid in 2020. In a statement, Edward A. Kelly, the union's president, said that the group's executive board voted on Thursday by 1.2% not to endorse. Both presidential campaigns made personal appeals to the union’s members at a convention in Boston in August, with Minnesota Gov. Last month, the Teamsters union, which represents over 1 million truck drivers, freight workers and others, also declined to endorse a presidential candidate. The AFL-CIO and the United Auto Workers union — which represent millions of workers combined — have each endorsed Harris this cycle.

Persons: Kamala Harris, Joe Biden's, Edward A, Kelly, Tim Walz, Ohio Sen, JD Vance, Harris, Biden, Trump, I’ll, Walz, Vance, Trump's, ” Vance, Matt, “ Organizations: International Association of Fire Fighters, Minnesota Gov, Ohio, Washington , D.C, WIN, Teamsters, AFL, United Auto Workers union, Trump Locations: U.S, Canada, Boston, Washington ,, Dayton , Ohio

☆ Here's everything to expect when the September jobs report is released Friday
▼ + stars: | 2024-10-03 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

"The jobs market is slowing down and becoming less tight," said Katie Nixon, chief investment officer at Northern Trust Wealth Management. Then there are the monthly revisions that have been dramatic at times, causing the Labor Department to overcount hiring by more than 800,000 for the 12-month period through March 2024, adding uncertainty to jobs market analysis. The Bureau of Labor Statistics will release the report at 8:30 a.m. Looking for cluesStill, markets will in fact be watching the report closely. At the same meeting where they approved the reduction, policymakers indicated another half percentage point, or 50 basis points, in cuts before the end of 2024 and another full percentage point in 2025.

Persons: Angus Mordant, Nonfarm, Dow Jones, Katie Nixon, We've, there's, David Kelly, Helene —, JPMorgan's Kelly, Kelly Organizations: Bloomberg, Getty, Federal Reserve, Trust Wealth Management, Labor Department, Asset Management, Labor Statistics Locations: Albany, Latham , New York

☆ Americans are able to bet on the US elections again after a legal fight
▼ + stars: | 2024-10-03 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Americans can bet on the outcome of US elections following a legal fight. Last month, Kalshi briefly listed bets on congressional election outcomes before the CFTC shut them down. On Wednesday, prediction market Kalshi got the go-ahead to take bets on congressional elections after a months-long legal battle with the Commodity Futures Trading Commission. That makes it one of the only options for Americans to bet on election outcomes, and the only legal one for Americans to wager large amounts of money. The court's decision comes just five weeks before the elections, and follows years of legal battles between prediction markets and the CFTC.

Persons: Kalshi, —, CoinDesk, Harry Crane Organizations: CFTC, Service, Futures Trading Commission, Federal, Kalshi, Senate, Rutgers University Locations: New York, New Zealand

The United States was sending more troops to Vietnam, and Mr. Hunter had recently found out he was one of them. During the session in her apartment, Ms. Neel outlined Mr. Hunter’s body, his hands, his legs and the chair on the five-foot-tall canvas. Mr. Als views these gestural marks outlining his legs, his jacket, his hand as a kind of memory of Mr. Hunter. But they could not locate Mr. Hunter or firmly establish his fate, only that he probably did not die in the Vietnam War. And she saved it and loved that painting as much as any.”The painting was kind of a bittersweet breakthrough for Ms. Neel, Ms. Baum said.

Persons: Alice Neel, Ms, Neel, “, ”, Johnny Carson, Hartley, Ginny, Elizabeth, Hugh Hurd, ” Hartley, Ginny’s, Hilton Als, Neel’s, James Hunter, Hunter, Mr, Als, Hunter isn’t, Hunter didn’t, Kelly Baum, ” Ms, Baum, Alice Organizations: Puerto Ricans, Metropolitan Museum of Art, Whitney Museum Locations: Puerto, Los Angeles, United States, Vietnam, Spanish Harlem

☆ Stock markets today: Indexes slip as jobless claims rise ahead of highly anticipated jobs report
▼ + stars: | 2024-10-03 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Indexes edged lower Thursday as investors assessed jobless claims and geopolitical tensions. On Friday, investors will get a fresh labor market update from the September nonfarm payrolls report. AdvertisementUS stocks inched lower on Thursday, fueled by an uptick in jobless claims ahead of a key jobs report and continued tensions in the Middle East. Analysts say the report will likely have a big influence on both markets and the Fed in the coming weeks. Advertisement"We think a soft employment report is likely to generate a larger market response vs a strong labor report," Bank of America analysts said in a Wednesday report.

Persons: —, Israel Organizations: Service, Labor Department, Israel, Federal, Bank of America, Trump, RBC Locations: Iran

☆ I'm a child psychologist, and I asked my son's teachers to limit his use of technology at school. Here's what happened.
▼ + stars: | 2024-10-03 | by ( Kelly Burch | ) www.businessinsider.com time to read: +5 min

His son had a tech addiction and needed limited access to computers. At my son's school, like most these days, all students had laptops. AdvertisementWe started with an open conversation with the schoolI knew I wanted my son to have less access to technology at school. Because of that, we haven't had to talk with his high school teachers about limiting technology. AdvertisementAs a professional, it is a bit concerning to me how hard it was to ease off technology use in school.

Persons: Scott Kollins, Kollins, —, I'm, He's, haven't Organizations: Service

☆ Raiders’ Antonio Pierce offered recruits and parents perks like trips to strip club and gun range while at ASU, per the NCAA
▼ + stars: | 2024-10-03 | by ( David Close | ) edition.cnn.com time to read: +3 min

Pierce, who served multiple roles, including associate head coach and recruiting coordinator, at ASU from 2017 to 2022, was sanctioned by the governing body for an alleged roughly year-long prohibited recruiting scheme. CNN has reached out to Pierce, the Raiders and ASU for comment. Pierce “consistently denied planning or arranging any portion of the visits, providing recruiting inducements, or participating in the out-of-state contacts and evaluations,” according to a NCAA press release. In the 67-page report, the NCAA provided what it described as multiple examples of the former Super Bowl Champion knowingly and repeatedly conducting forbidden recruiting violations. The NCAA has accused Antonio Pierce of recruiting violations while coaching at Arizona State University.

Persons: Antonio Pierce, Pierce, Pierce “, Arizona State University . Jordon Kelly, Anthony Garnett, Regina Jackson, Jayden Daniels, Jackson, “, ”, Jones, ‘ Organizations: CNN, Las Vegas Raiders, Arizona State University, ASU, NFL, Sun Devils, Raiders, NCAA, Super Bowl, Getty, Washington, ”, Broncos Locations: Garnett, Arizona, Denver

☆ Costco is selling platinum bars as it expands its precious-metals business after huge success selling gold
▼ + stars: | 2024-10-03 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Costco is selling 1-ounce platinum bars online for $1,090. The move comes about a year after the retail giant started selling gold bars and silver coins. AdvertisementCostco is diversifying its precious-metals business by selling 1-ounce bars of platinum for $1,090. "I have purchased gold coin and bars, this is 1st I spotted the platinum bar on here. Advertisement"I've gotten a couple of calls that people have seen online that we've been selling gold — 1-ounce gold bars," Costco CFO Richard Galanti said in an earnings call last year.

Persons: —, Lady Fortuna, Richard Galanti, Edward Kelly Organizations: Costco, Service, Business Locations: Wells Fargo

☆ Investing giants want to offer retail traders access to a booming sector of financial markets
▼ + stars: | 2024-10-03 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

It would give retail investors access to a $1.7 trillion market. It could be tricky, as private credit tends to be illiquid while ETF investors need high liquidity. According to The Wall Street Journal, some of the biggest private equity and investment management giants want to offer retail investors access to exchange-traded funds backed by private credit. The race to launch private credit ETFs has heated up in recent months. Last month, State Street proposed a private debt ETF to the Securities and Exchange Commission.

Persons: —, Anna Paglia, Paglia, Eric Mogelof Organizations: Service, Wall Street, Apollo Global Management, BlackRock, Capital Group, KKR, Securities and Exchange Commission, Street's

☆ Stock market today: Indexes fall, oil surges on Middle East turmoil ahead of jobs report
▼ + stars: | 2024-10-03 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Traders are watching rising risks to oil supplies as tensions in the Middle East escalate. US oil spiked 5.5% to $73.98 a barrel and Brent prices rose more than 5% to trade at $77.86. If the conflict destroys Iran's oil infrastructure, oil prices could surge 161% to over $200 a barrel, according to SEB's chief commodities analyst Bjarne Schieldrop. AdvertisementInvestors are eagerly awaiting the September jobs report, due Friday, for further signs of labor market health. Markets are pricing in a 65% chance of a smaller 25 basis point cut in November, according to the CME FedWatch Tool.

Persons: Friday's nonfarm, Biden, —, Joe Biden, retaliating, Biden's, Brent, Bjarne Schieldrop, Economists, Jensen Huang, Blackwell Organizations: Traders, Service, Dow Jones, Nasdaq, Treasury, Israel, Labor Department, Federal Reserve, Costco Locations: Israel, Iran

☆ JP Morgan: India stocks “not appealing at the moment” due to valuations
▼ + stars: | 2024-10-03 | 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 EmailJP Morgan: India stocks “not appealing at the moment” due to valuationsJP Morgan Asset Management’s David Kelly cites the opportunities in Asian equity and debt markets following the U.S. Federal Reserve's 50 basis-point cut.

Persons: JP, David Kelly Organizations: U.S, U.S . Federal Locations: India, U.S .

☆ CNN requested an interview with Melania Trump. Her book publisher asked for $250,000 in exchange
▼ + stars: | 2024-10-03 | by ( Hadas Gold | Pamela Brown | ) edition.cnn.com time to read: +8 min

CNN —Nearly two months ago, CNN reached out to Melania Trump’s book publisher to request an interview with the former first lady ahead of her upcoming memoir. After several exchanges about a possible interview, the publisher sent an unusual demand last week: an interview would cost $250,000. Melania Trump’s spokesperson declined comment. Spokespeople for ABC, NBC and CBS declined to comment on whether they received a similar request for payment from Trump’s publisher. But in this case, the Trump campaign hasn’t been involved in Melania Trump’s book rollout.

Persons: Melania, ”, ” Tony Lyons, “, ” Lyons, Melania Trump’s, Donald Trump’s, Melania Trump, Trump, Lyons, Simon, Simon & Schuster, Marc Beckman, CNN –, “ It’s, Kate Anderson Brower, Grace, ” Anita McBride, George W, Bush, ” McBride, I’ve, Ainsley Earhardt, Fox’s Sean Hannity, Trump’s, it’s, Kelly McBride, Craig Newmark, Anita McBride, Casey Anthony, George Stephanopoulos, recusing, ABC’s, McBride, hasn’t, Donald Trump, CNN’s Brian Stelter Organizations: CNN, Skyhorse Publishing, ” CNN, ” Records, NDA, Simon &, American University, Fox News, ABC, NBC, CBS, Guardian, Ethics, The Poynter Institute, ABC News, Wednesday, Washington, Clinton Foundation, Poynter Institute, Trump

☆ Rates won't fall back to pre-pandemic levels as geopolitical conflict and supply chain issues create problems for world economies, BofA exec says
▼ + stars: | 2024-10-02 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +4 min

That's led the market to assume rates will fall to pre-pandemic lows, BofA's Bernard Mensah says. Yet, inflationary risks will likely keep rates elevated, Mensah says. Before the pandemic, in the decade following the Great Financial Crisis, interest rates remained at historical lows. Despite the Fed's apparent confidence that pricing pressures have eased, Mensah says a variety of inflationary risks will keep interest rates higher. Other analysts have also pointed to inflation risks from geopolitical conflicts.

Persons: That's, BofA's Bernard Mensah, Mensah, —, Bank of America's Bernard Mensah, Rowe Price, Tomasz Wieladek Organizations: Fed, Service, Federal Reserve, Bank of America's, Bloomberg Locations: US, China, England, Switzerland, Sweden, Canada, Mexico

☆ These 2 sectors of the stock market are poised to benefit most if Trump wins in November, RBC says
▼ + stars: | 2024-10-02 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +5 min

A Trump win would benefit energy and financial stocks the most, RBC analysts say. The analysts see a Trump win as overall bullish for equities, with a Harris win more bearish. AdvertisementA Donald Trump win in November could be the best outcome for stocks, and two sectors in particular would benefit the most, according to RBC Capital Markets. Those sectors would see the most upside from a Trump win, especially if Republicans take both the White House and Congress, the analysts say. EnergyThe analysts say Trump's policies favor domestic fossil fuel production, since they aim to reduce regulatory requirements, which would lower costs.

Persons: Harris, —, Donald Trump, Donald Trump's, Financials, Kamala Harris, Trump, fracking, Janet Yellen Organizations: Trump, RBC, Service, RBC Capital Markets, White House, Congress, Energy, Republican, Democratic, Biden

☆ John Amos’ daughter says she learned of his death when the rest of the world did
▼ + stars: | 2024-10-02 | by ( Lisa Respers France | ) edition.cnn.com time to read: +1 min

CNN —Actor John Amos died in August, but his daughter has revealed she only learned about it when his passing was reported by the media on October 1. Shannon Amos paid tribute to her late father in a video shared on Instagram that showed the two dancing to the song “Dance with My Father” by Luther Vandross. “I am without words…Our family has received the heartbreaking news that my Dad, John Allen Amos, Jr., transitioned on August 21st,” Shannon Amos wrote in the caption. “He was a man with the kindest heart and a heart of gold… and he was loved the world over. His children had disagreed on his care, which became public last year after Shannon Amos raised concerns to law enforcement.

Persons: John Amos, Shannon Amos, ”, Luther Vandross, “, John Allen Amos, Jr, ” Shannon Amos, Kelly Christopher Amos, ” John Amos, Amos Organizations: CNN

☆ CBS cut mics and fact-checked JD Vance in a more civil VP debate, drawing the ire of Trump and his allies
▼ + stars: | 2024-10-02 | by ( Hadas Gold | ) edition.cnn.com time to read: +5 min

Or would they take a hands-off approach and let the candidates fact check each other? Vance spoke up to complain about the fact check. “Margaret, the rules were that you were not going to fact check and since you’re fact-checking me, I think it’s important to say what’s actually going on,” he protested. “When is she going to fact check Tampon Tim on all of his false statements? Video Ad Feedback Walz asked Vance if Trump lost the 2020 election.

Persons: Norah O’Donnell, Margaret Brennan, Brennan, Sen, JD Vance, Tim Walz, Vance, “ he’s, Kamala Harris’s, “, you’ve, we’ve, ” Vance, Walz, ” Brennan, “ Margaret, what’s, ”, David Muir, Linsey Davis, Donald Trump, Kamala Harris, Trump, ” Trump, Tim, Megyn Kelly, Brit Hume, Feedback Walz, Laura Ingraham, Jason Miller, Vance masterfully Organizations: New, New York CNN, CBS, Gov, Trump, Fake, Republican, Fox News, NBC, CNN Fox, CNN Locations: New York, Ohio, Springfield , Ohio, Springfield, Vance

☆ Parents are turning to a 'paid village' to handle childcare and cleaning. Costs range from $500 to $2,600 a month.
▼ + stars: | 2024-10-02 | by ( Kelly Burch | ) www.businessinsider.com time to read: +6 min

Despite that unpaid support, Johnson and her husband pay $2,600 a month for childcare and cleaning — the sort of paid village Johnson says is essential when both parents are working. Parents around the country are struggling to pay for childcare costs — which are often higher than a mortgage or rent. Here's what five other parents pay to create the village they need to survive. AdvertisementDay care for the two younger kids costs $650 every two weeks, or over $1,300 monthly. "I think there's a lot of unnecessary guilt and shame that can come up with having a 'paid' village,'" she said.

Persons: —, Amy Johnson, Johnson, Amy Baby, It's, Katie Nostrum, Jessica Lemmons, Lemmons, L'Oreal Thompson Payton, Thompson Payton, Miriam Udy, Oluese, she's Organizations: Service, Department of Labor, L'Oreal, San Francisco Bay Area Locations: Cleveland, North Dakota, Texas, Bryan , Texas, Chicago, Tennessee, San Francisco Bay, Knoxville , Tennessee, New York, They're

☆ Hurricane Helene devastates Asheville's small beer breweries: 'It's quite heartbreaking.'
▼ + stars: | 2024-10-02 | by ( Allie Kelly | Noah Sheidlower | ) www.businessinsider.com time to read: +9 min

AdvertisementBrian Fetting and Dan Juhnke welded every chair and table for their business, New Origin Brewing in Asheville, North Carolina. Last week, Hurricane Helene stripped away nearly everything. New Origin Brewing is in one of the hardest hit cities by Hurricane Helene, despite its mountain location, 300 miles inland. Some of New Origin's brewing equipment, destroyed by Hurricane Helene. For most of the small breweries dotting the French Broad River and the Blue Ridge Mountains, the devastation from Hurricane Helene can't just be measured in dollars lost.

Persons: Helene, —, Brian Fetting, Dan Juhnke, Fetting, Hurricane Helene, he's, He's, Dan, Mike Semenec, Semenec, DSSOLVR, Harrison Fahrer —, Asheville —, Fahrer, Tim Kent, They're, Kent, Juhnke, Bryna Frosaker, Adam Charnack, Frosaker, Charnack Organizations: Service, Business, Brewery, Asheville Metro Area Breweries, North Carolina Beer & Wine, Juhnke Brewery Locations: North Carolina, Asheville , North Carolina, Hurricane, Gulf Coast and Georgia, Buncombe County, Asheville, Minnesota, North, Tampa, Durham, North Carolina's, Charnack

☆ Kristen Bell says Adam Brody did one key thing to take their kiss scene in 'Nobody Wants This' to the next level
▼ + stars: | 2024-10-02 | by ( Olivia Singh | ) www.businessinsider.com time to read: +6 min

Netflix's "Nobody Wants This" stars Adam Brody and Kristen Bell as love interests. "Nobody Wants This" stars Adam Brody as Noah Roklov, a newly single rabbi, and Kristen Bell as Joanne, an agonistic host of a sex podcast. Adam Brody levelling up to a place of hotness that I didn’t think could be possible. Kirsten Bell as Joanne and Adam Brody as Noah on "Nobody Wants This." "And I was like, 'You guys gotta look at Adam Brody because he's gonna be the one.

Persons: Adam Brody, Kristen Bell, Bell, —, Noah Roklov, Joanne, It's, Noah, they've, Noah assertively, Biene__B, NobodyWantsThis, ager, ‼ ️, Jo Organizations: Service

Actor John Amos, whose long career included a wide range of iconic roles in works such as "Roots," "Good Times" and "The West Wing," died last month, his family said Tuesday. He was 84 when he passed away from natural causes in Los Angeles on Aug. 21. Many fans consider him their TV father. His legacy will live on in his outstanding works in television and film as an actor.”John Amos in 'Good Times'. His television career was revitalized in 1999 when he was cast on acclaimed White House drama "The West Wing," where he appeared for five seasons as Admiral Percy “Fitz” Fitzwallace.

Persons: John Amos, Belinda Foster, ”, Kelly Christopher Amos, ” John Amos, Amos, James Evans, Norman Lear, Toby, Ben Vereen, LeVar Burton, Louis Gossett Jr, Leslie Uggams, Cleo McDowell, Eddie Murphy, Bruce Willis, Percy “ Fitz ” Fitzwallace Organizations: Associated Press, CBS, Everett, White Locations: Los Angeles, Chicago, America

☆ As a new mom, I needed childcare, a coworking space, and a gym under one roof. So I created it.
▼ + stars: | 2024-10-01 | by ( Kelly Burch | ) www.businessinsider.com time to read: +5 min

She founded a location that combines childcare, a gym, and a coworking space. AdvertisementThis as-told-to essay is based on a conversation with Britt Riley, founder of The Haven Collection. Then, I needed a co-working space and a place to exercise. After that, I would go to the co-working space and have a cup of coffee or tea while watching them play. We give them access to a day care, coworking space, and gym, plus perks like fitness classes, massage, and day-night babysitting.

Persons: Britt Riley, —, Harper, Zoe, we're, We're Organizations: Service, The, The Haven, Haven Locations: Haven

☆ Buy US-listed casino and copper stocks to capitalize on China stimulus, research firm says
▼ + stars: | 2024-10-01 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +4 min

US-listed gaming and copper stocks have outperformed since China's stimulus blitz, Trivariate Research says. "We have concluded the intervention is incrementally bullish for US equities," CEO Adam Parker wrote. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementGaming and copper stocks listed in the US have outperformed since China unleashed a blitz of stimulus, and one research firm is recommending investors consider buying. Parker says historically, not all China stimulus measures have impacted US equities, especially when they coincide with other market moving events in the US.

Persons: Adam Parker, —, Trivariate Research's, Parker, Trivariate, that's Organizations: Trivariate, Sands, Service, CNBC, US, Wynn Resorts, Melco Resorts & Entertainment, CSI Locations: Freeport, McMoran, Las, China, Monday's, McMoRan, Macau

☆ A Russian company is bartering chickpeas for Pakistani rice as sanctions stop payments
▼ + stars: | 2024-10-01 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +2 min

A Russian company will reportedly barter chickpeas and lentils for Pakistani tangerines and rice. One Russian company is planning to barter chickpeas and lentils for Pakistani tangerines, rice and potatoes, according to a Tuesday report from Russian state-run news service Tass. AdvertisementThe company will also trade 15,000 tons of chickpeas and 10,000 tons of lentils for 10,000 tons of potatoes and 15,000 tons of tangerines from the Pakistani company. AdvertisementRussia also passed a bill in July that will allow trade payments in crypto. Even Chinese banks, the smaller of which were a key processor for Russian payments, have stopped offering support in recent months.

Persons: —, Russia's, Bloomberg Organizations: Service, Tass, Femtee Trading Company, Financial Times, Bank of Locations: Russian, Russia, China, Ukraine, India, Afghanistan, Iran, Bank of Russia

☆ Top Wall Street strategists say a strong jobs report will kick off a rotation into lower-quality stocks
▼ + stars: | 2024-09-30 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

A strong jobs report would boost low-quality stocks, Goldman Sachs and Morgan Stanley analysts say. AdvertisementInvestor eyes are locked on the upcoming jobs report, due Friday. If it comes in strong, that will be great news for less-loved, lower-quality stocks, analysts from Goldman Sachs and Morgan Stanley say. Morgan Stanley's equity-strategy team is also keyed in on the jobs report. Wilson also highlighted the jobs report as a possible catalyst for rotation towards low quality in the stock market.

Persons: Goldman Sachs, Morgan Stanley, Goldman, —, David Kostin, Morgan, Mike Wilson, Wilson, nonfarm payrolls Organizations: Service, firm's

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