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But a series of data points showing worsening economic conditions has made some analysts believe a 0.5% cut is more likely — and perhaps even necessary. “We do not seek or welcome further cooling in labor market conditions,” Fed Chair Jay Powell said in a speech last month. “A (0.5%) cut is usually done in emergencies,” like the Covid-19 pandemic, said Mark Zandi, chief economist at Moody’s financial group. Mortgage interest rates have hit their lowest level since February 2023, while auto loan rates are also falling. A 0.5% cut would more directly affect rates tied to the fed funds rate, including credit cards, home equity lines of credit and small-business loans.

Persons: Steve Liesman, Jay Powell, Bill Dudley, ” Dudley, Preston Mui, Mui, ”, “, Mark Zandi, Greg McBride, ” McBride Organizations: Federal, CNBC, Wall, Minneapolis Federal Reserve, Federal Reserve Bank of New, Bloomberg News, Fed, Bankrate Locations: Minneapolis, Federal Reserve Bank of New York, America

☆ The Fed's biggest interest rate call in years happens Wednesday. Here's what to expect
▼ + stars: | 2024-09-17 | by ( Jeff Cox | ) www.cnbc.com time to read: +7 min

The meeting wraps up Wednesday afternoon, with the release of the Fed's rate decision coming at 2 p.m. "I hope they cut 50 basis points, but I suspect they'll cut 25. Here's a breakdown of what's on tap:The rate waitThe FOMC has been holding its benchmark fed funds rate in a range between 5.25%-5.5% since it last hiked in July 2023. The 'dot plot'Perhaps just as important as the rate cut will be the signals meeting participants send about where they expect rates to go from here. In June, FOMC members penciled in just one rate cut through the end of the year.

Persons: Jerome Powell, William McChesney Martin Jr, Andrew Harnik, they'll, Mark Zandi, that's, Tom Simons, Zandi, Robert Kaplan, There'll, Seema Shah, FOMC, Moody's, Goldman Sachs, Powell presser, Goldman, Simons Organizations: Federal Reserve, Committee, Moody's, Wall, Jefferies, Dallas Fed, CNBC, Asset Management Locations: Washington , DC

☆ Markets are poised for a 50bps cut, but this is a 'much more cautious Fed', says Moody's Mark Zandi
▼ + stars: | 2024-09-17 | 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 EmailMarkets are poised for a 50bps cut, but this is a 'much more cautious Fed', says Moody's Mark ZandiMark Zandi, Moody’s, joins 'Fast Money' to talk what he would like to see from the Federal Reserve moving forward.

Persons: Mark Zandi Mark Zandi Organizations: Markets, Federal Reserve

☆ An 'AI apocalypse' is coming to investing. How financial advisors can prepare
▼ + stars: | 2024-09-17 | by ( Michelle Fox | ) www.cnbc.com time to read: +7 min

Artificial intelligence is expected to transform the way companies do business, including those in financial planning and investment management. That means financial advisors need to get onboard or risk being left behind. Of course, financial advisors have been using some technology, like financial planning software, for years. Still, AI will help financial advisors do their jobs better — not necessarily put them out of work. What to do Nexus Strategy's Welsh believes financial advisors should begin getting comfortable with current AI capabilities.

Persons: Craig Iskowitz, Anthropic's Claude, Vincent Gudsdorf, Leo Kelly, Verdence, Kelly, Timothy Welsh, Welsh, Iskowitz, That's, Verdence's Kelly, It's Organizations: Ezra Group, AIs

☆ Boeing freezes hiring in sweeping cost cuts as it grapples with factory worker strike
▼ + stars: | 2024-09-16 | by ( Leslie Josephs | ) www.nbcnews.com time to read: +2 min

Boeing announced sweeping cost cuts on Monday, including a hiring freeze, a pause on nonessential staff travel and a reduction on supplier spending to preserve cash as it deals with a strike of more than 30,000 factory workers. Boeing factory workers, mostly in the Seattle area, started walking off the job early Friday after overwhelmingly rejecting a tentative labor deal, halting most of Boeing’s aircraft production. It was the first clear sign of how the strike will affect the hundreds of suppliers that rely on Boeing work. The financial impact of the strike will depend on how long it lasts, but Boeing is focused on conserving cash, West said at a Morgan Stanley conference Friday. On Friday, Moody’s put all of Boeing’s credit ratings on review for a downgrade and Fitch Ratings said a prolonged strike could put Boeing at risk of a downgrade.

Persons: Brian West, ” West, West, Morgan Stanley, Kelly Ortberg, Moody’s Organizations: Boeing, Morgan, Fitch Locations: Seattle

☆ The strike could cost Boeing more than $1 billion. But that could be the least of its problems
▼ + stars: | 2024-09-16 | by ( Chris Isidore | ) edition.cnn.com time to read: +6 min

How long the strike lasts will determine how serious the problems are for Boeing. Boeing has a long way back to profitability, no matter how long the strike lasts. So as bad as the strike might be for Boeing, it has plenty of other problems to deal with. So even with financial problems that might kill another company, Boeing isn’t going anywhere. The strike could last a whileNegotiations between Boeing, the union and federal mediators are expected to resume early this week.

Persons: Brian West, Boeing’s, Fitch, Moody’s, Poor’s, Richard Aboulafia, ” Aboulafia, ” Jim Bloomer, Max, “, you’ve, ” Organizations: New, New York CNN, Boeing, Federal Aviation Administration, Airbus, CNN Locations: New York, Washington, Renton , Washington

☆ Boeing freezes hiring and executives’ first-class travel as massive strike continues
▼ + stars: | 2024-09-16 | by ( Vanessa Yurkevich | ) edition.cnn.com time to read: +2 min

CNN —With a massive ongoing strike, Boeing is making some temporary cutbacks that could hit non-union staff hard. Boeing Chief Financial Officer Brian West on Monday announced the company is instituting a freeze on hiring and non-essential travel, and it will consider furloughs for employees, managers, and executives. The company is temporarily restricting first-class and business travel, including for Boeing executives – although the company didn’t comment on whether top brass will still be able to use private corporate jets. West’s memo was a direct response to the ongoing strike with the International Association of Machinists and Aerospace Workers union. The company will also reduce charitable contributions, stop catering at Boeing facilities, and pause participation in trade shows and events.

Persons: Brian West, ” West, West, ”, Fitch, Moody’s Organizations: CNN, Boeing, Monday, International Association of Machinists, Aerospace Workers

☆ It looks like the commercial-real-estate market has finally bottomed out — and experts say it's time to invest
▼ + stars: | 2024-09-13 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Read previewThe embattled commercial-real-estate market may finally have a few things going its way, according to recent data. That left owners with harder-to-pay debt, made worse by high interest rates and tighter bank lending. AdvertisementYet lending volumes are slightly improving, Moody's said. Related storiesMoody's expects bank lending to turn positive by the end of 2024. As these lenders are most exposed to commercial real estate, some analysts have said that hundreds of banks risk failing in the next few years.

Persons: —, Moody's, they've, Matt Salem, Dakota Sagnelli Organizations: Service, Business, Wall, KKR Locations: Dakota

☆ It looks like the commercial real estate market has finally bottomed out — and experts say it's time to invest
▼ + stars: | 2024-09-13 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Read previewThe embattled commercial real estate market may finally have a few things going its way, according to recent data. AdvertisementAnd yet, lending volumes are slightly improving, Moody's said. As these lenders are most exposed to commercial real estate, some analysts have warned that hundreds of banks risk failing in the next few years. Now, some see opportunity in the real estate market. "We think this will be an attractive vintage for real estate credit," analysts Matt Salem and Dakota Sagnelli wrote, later adding: "A growing number of commercial real estate transactions should increase the number of opportunities to lend, while the dearth of bank capital should keep yields attractive and spreads relative to corporate credit elevated."

Persons: —, Moody's, they've, Matt Salem, Dakota Sagnelli Organizations: Service, Business, Wall, KKR Locations: Dakota

☆ I was embarrassed to move back in with my parents at 53. But they love having me around, and I'm finally pursuing my dream career.
▼ + stars: | 2024-09-13 | by ( Jeanni Ritchie | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. To make matters worse, I was living in Mississippi, which was about a five-hour trip to my family in Louisiana. But on a trip back home amid my impending divorce, my sister posed the idea of moving back in with my parents in Louisiana. I called my parents and asked if I could live with them temporarily while I pursued a writing career, and they graciously agreed. AdvertisementIt was a roller coaster at first, but the safety of moving back home was healing.

Persons: —, I'd, prim, they'd, I've Organizations: Service, Business Locations: Mississippi, Louisiana

☆ Mortgage rates fall to lowest level since February 2023
▼ + stars: | 2024-09-12 | by ( Bryan Mena | ) edition.cnn.com time to read: +3 min

Washington CNN —Mortgage rates fell this week to the lowest point since February 2023, in a welcome sign for Americans grappling with a tough housing market. The standard, 30-year fixed-rate mortgage averaged 6.20% in the week ended September 12, mortgage financing giant Freddie Mac said Thursday. Mortgage rates started to drop early last month on news affirming lower interest rates in the future, specifically after a weaker-than-expected jobs report for July, and have gradually edged lower since. “Mortgage rates have fallen more than half a percent over the last six weeks and are at their lowest level since February 2023,” Sam Khater, Freddie Mac’s chief economist, said in a release. The Fed doesn’t directly set mortgage rates, but its action do influence them through movements in bond yields.

Persons: Freddie Mac, ” Sam Khater, Freddie Mac’s, that’s, Lawrence Yun Organizations: Washington CNN —, “, Federal Reserve, Treasury, Las, P Global, Apple, Fed, National Association of Realtors Locations: New York City, San Diego, Las Vegas, America, Los Angeles, Miami

☆ What you need to know about Kamala Harris' 'opportunity economy'
▼ + stars: | 2024-09-11 | by ( Kwan Wei Kevin Tan | Joshua Nelken-Zitser | ) www.businessinsider.com time to read: +7 min

Read previewVice President Kamala Harris says she has a plan for America's middle class— building an "Opportunity Economy" to help them succeed. "Vice President Harris grew up in a middle class home as the daughter of a working mom. She believes that when the middle class is strong, America is strong," the Harris campaign wrote in a section titled "Build an Opportunity Economy and Lower Costs for Families." But just what exactly is Harris looking to do when she says she's going to build up the middle class through her "Opportunity Economy" agenda? During the debate, Harris accused Trump of only wanting to offer tax breaks to the richest people, while Trump countered by saying Harris lacked a detailed plan.

Persons: —, Kamala Harris, Harris, Donald Trump, she's, Biden, Trump, Alice Tecotzky, Goldman Sachs Organizations: Service, Business, Trump, American, Biden, Pharma, New York Times, Siena College Locations: America, North Carolina

☆ 49ers. vs. Jets: San Francisco spoils Aaron Rodgers’ return to NFL action with dominant win over New York
▼ + stars: | 2024-09-10 | by ( Ben Morse | ) edition.cnn.com time to read: +3 min

CNN —The San Francisco 49ers put in a dominant showing to beat the New York Jets 32-19 on Monday, spoiling Aaron Rodgers’ return to NFL action. Rodgers returned to NFL action for the first time since Week 1 last season. Thearon W. Henderson/Getty ImagesDespite the poor start, Rodgers soon showed why the Jets traded for him ahead of last season. However, the Jets offense then struggled to produce much until late in the third by which point San Francisco had built up a comfortable lead. Per the NFL, the Jets only had 21:20 minutes of possession, the lowest mark of Rodgers’ career.

Persons: Aaron Rodgers ’, Jordan Mason, Christian McCaffrey, Mason, Jake Moody, Brock Purdy, ” Purdy, “, McCaffrey, I’m, Rodgers, Fred Warner, Thearon, Henderson, San, Rodgers –, Garrett, Wilson, ”, ” Rodgers, Kyle Shanahan’s, Brandon Aiyuk Organizations: CNN, San Francisco 49ers, New York Jets, NFL, 49ers, Jets, Breece, Green Bay Packers, Kansas City Chiefs, Super, San Locations: Francisco, New York, San Francisco

☆ The Supreme Court may have a shot to strike down Section 230 after a child's death was blamed on a 'blackout challenge' seen on TikTok
▼ + stars: | 2024-09-10 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +7 min

In a decision on August 27, the US Third Circuit Court of Appeals found that, in 2021, TikTok — via its "For You Page" algorithm — recommended a video promoting a "blackout challenge" to 10-year-old Nylah Anderson. The company had argued in court that it was immune from prosecution due to Section 230 of the Communications Decency Act. AdvertisementBut the Third Circuit ruling could change that. French and other supporters of the Third Circuit ruling argue that TikTok's liability protections should end where its algorithmic suggestions begin. If they do, their ruling could have even broader consequences than the Third Circuit ruling.

Persons: —, Nylah Anderson, Paul Matey, TikTok, Nylah, asphyxiate, We'd, David French, Betsy Rosenblatt, Rosenblatt, Clarence Thomas, Neil Gorsuch, SCOTUS, Amy Coney Barrett Organizations: Service, US, Appeals, TikTok, Business, Communications, Circuit, New York Times, Third Circuit, Spangenberg, for Law, Technology, Arts, Moody

☆ Why playing it safe on immigration and crime could be a big risk for Harris
▼ + stars: | 2024-09-09 | by ( Ronald Brownstein | ) edition.cnn.com time to read: +19 min

Since Harris replaced President Joe Biden as the Democratic nominee, Trump has constantly attempted to portray her as weak on immigration and crime. On Friday, Harris also chose not to mention mass deportation during a radio interview with Univision, when the host asked her to summarize her argument to undecided Hispanic voters. “There is a way in which those [crime and immigration] issues in particular are also about bigger things,” said Adrianne Shropshire, executive director of BlackPAC, a group working to mobilize Black voters for Harris and Democrats. And many of those voters might recoil from these Trump policies on crime and immigration if they heard more about them. “What he is hoping is that the Black voters who he is [courting] don’t see that stuff,” Shropshire said.

Persons: Kamala Harris, Donald Trump, Trump, Harris, Joe Biden, Gary Segura, UnidosUS, Segura, Ohio Sen, JD Vance, Stephen Miller, Miller, Michael Ettlinger, Goldman Sachs, Jeffrey Passel, Passel, Rudolph Giuliani, Michael Bloomberg, Black, Ed Chung, Vera Action, Tim Walz, Trump’s, she’s, surrogates, ”, Adrianne, “, ” Segura, ” Tom Wong, Wong, ” Wong, Daniela Gilbert, That’s, Biden, Gilbert, ” Gilbert, ” Anthony Baber, Baber, “ Trump, ” Baber, ” Harris, She’s, Chung, –, Dana Bash, , Daniel Cox, BlackPAC Organizations: CNN, Democratic, Unidos, ”, White, Trump, of Police, National Guard, University of New, Carsey, of Public, Boston Globe, Pew Research Center, New York Police Department, Minnesota Gov, Univision, Black, GOP, US Immigration, Center, University of California, America’s, Marquette Law School, Religion Research Institute, Detroit, Whites, Survey Center, American Enterprise Institute Locations: California, Wisconsin, Texas, New York City, Phoenix, Las Vegas, Philadelphia, Atlanta, Savannah, Adrianne Shropshire, San Diego, United States, CNN’s, Michigan, Pennsylvania, Shropshire, ” Shropshire

☆ The Trump policy that freaks out economists the most
▼ + stars: | 2024-09-05 | by ( Matt Egan | ) edition.cnn.com time to read: +9 min

New York CNN —Former President Donald Trump wants to spend trillions of dollars on tax cuts. “It’s enormously protectionist and terrible economic policy,” said Holtz-Eakin, who served as an economic adviser to former President George H.W. The cost of the Trump tax cutsTrump has called for extending his signature 2017 tax cuts, which expire next year if no action is taken by Congress. Trump has argued that extending the tax cuts will boost the economy, create jobs and help families. The Trump campaign has not detailed significant spending cuts or tax hikes to offset these tax cuts.

Persons: Donald Trump, Trump, Goldman Sachs, Kamala Harris, Goldman, “, ” David Kelly, Kelly, “ It’s, ”, ’ Trump, Douglas Holtz, Eakin, Holtz, George H.W, Bush, GOP Sen, John McCain, Mark Zandi, ” Zandi, Karoline Leavitt, they’ll, ” Leavitt, Trump’s, ” Harris, “ Donald Trump, ” Brian Nelson, Harris, Kimberly Clausing, Mary Lovely, ” Trump, Joe Biden, Penn, Penn Wharton, The Trump, CNN’s Katie Lobosco Organizations: New, New York CNN, Asset Management, CNN, America, New York Economic Club, American, GOP, Moody’s, Trump, Peterson Institute for International Economics, Peterson Institute, US Customs, Louis Federal Reserve, Biden, Congress, Princeton University, University of Chicago, Harvard University, US Treasury Department, Penn Wharton Model, Social Security Locations: New York, United States, China, America

☆ Water shortages are likely brewing future wars — with several flashpoints across the globe
▼ + stars: | 2024-09-05 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +6 min

The Stockholm International Water Institute (SIWI), a non-profit with expertise in water governance, has said that even amid a possible rise in social conflicts and violence, "water can be a bridge to peaceful negotiations rather than a trigger or weapon of war." The severity of the global water crisis has been further underlined by an alarming rise in the number of security incidents. Egypt-Ethiopia tensionsVillanova University's Galgano identified nine international river basins as flashpoints in which conflict is either already taking place or the potential for armed conflict is high. These included the Nile Basin in Africa, the Tigris-Euphrates River Basins of southwestern Asia and the Helmand and Harirud Rivers along the border of Afghanistan and Iran. Major international river basins in conflict.

Persons: Hamed, Francis Galgano, You've, you've, Galgano, Idrees Mohammed, Villanova University's Galgano, Harirud Rivers, GERD, They've, Recep Tayyip Erdogan, Hussein Faleh Organizations: Afp, Getty, Villanova University in, CNBC, Department, Environment, Villanova University, Stockholm International Water Institute, World Resources Institute, Bharatiya Janata Party, BJP, Control, Villanova Locations: Lake Urmia, Iran, Villanova University in Pennsylvania, transboundary, Stockholm, Bengaluru, Mexico's, Tehran, India, Egypt, Ethiopia, Africa, Asia, Helmand, Harirud, Afghanistan, Turkey, Syria, Iraq, Iraq's, Basra

☆ SEC fines six major credit rating agencies over failure to keep electronic records
▼ + stars: | 2024-09-03 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +3 min

New York CNN —The US Securities and Exchange Commission fined six major credit rating organizations a total of $49 million for their “significant failures” to keep electronic communications. Moody’s Investor Services and S&P Global Ratings agreed to pay the heftiest fines, a $20 million civil penalty each. Fitch Ratings agreed to pay $8 million, A.M. Best Rating Services agreed to pay $1 million, HR Ratings de México, S.A. de C.V. $250,000, and Demotech agreed to pay $100,000, respectively. That included an associate managing director making off-channel comments about credit rating clients. “Moody’s is fully committed to upholding our regulatory record-keeping obligations, and we are pleased to put this matter behind us,” a Moody’s spokesperson said in a statement.

Persons: Demotech, ”, Sanjay Wadhwa, A.M, Demotech “, Fitch, México, “ Organizations: New, New York CNN, US Securities and Exchange, Moody’s Investor Services, Fitch, S.A, SEC, Services, P Global, CNN Locations: New York, SEC’s

☆ Economist Paul Krugman defends Harris' price-gouging plan — but 'Shark Tank' star Kevin O'Leary calls it a 'horror film'
▼ + stars: | 2024-08-23 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. What works is to flood the market with supply: lots of oil means lower oil prices, lots of labor means lower labor prices, lots of whatever means lower prices — it's a simple supply and demand curve. Obviously, this is a populist political gesture — a way to offer something to voters upset about high food prices. Krugman noted that many states including Texas have laws banning businesses from overcharging for essentials like food and fuel during disasters.

Persons: —, Kamala Harris, Harris, Lindsay Owens, Donald Trump, Mark Zandi, Kamala, Dave Ramsey, It's, cramp, Kevin O'Leary, there's, That's, There's, O'Leary, it's, Kamala Harris's, Gus Ruelas, Paul Krugman, I've, Richard Nixon, Nicolas Maduro, Krugman, Brian Cornell, Cornell Organizations: Service, Democratic, Business, Federal, CBS, Republican, York Post, Fox, Netflix, Fox News, Laureate, Princeton, New York Times, CNBC Locations: York, America, Cuba, Venezuela, North Korea, Soviet Union, Texas, overcharging

☆ Kamala Harris Has Shed Biden's Economic Record, Could Beat Out Trump
▼ + stars: | 2024-08-14 | by ( Emily Stewart | ) www.businessinsider.com time to read: +12 min

When people say they're concerned about "the economy," it can mean a lot of things — grocery prices, gas prices, housing prices, healthcare. For one thing, it's not clear that voters think Harris, as vice president, has had much involvement in Biden's economic policies. People remember the Trump economy as a better time — interest rates were lower, prices were lower, houses seemed more affordable. AdvertisementThe task for Harris now is to lay out an economic identity and agenda before others beat her to it. The Trump campaign and the GOP are trying to tie her to the negative feelings around the Biden economy, to affordability and inflation.

Persons: Kamala Harris, Joe Biden's, Harris, Kamala, Donald Trump, Bill Clinton's, Jim Carville, —, it's, Biden, Trump, Harris — Trump, Evan Roth Smith, Smith, Eli Yokley, Mark Zandi, Tim Walz, Minnesota, Yokley, Whit Ayres, Donald Trump's, she's, He's, Bharat Ramamurti, Emily Stewart Organizations: Democratic, Republican, Financial Times, University of Michigan's Ross School of Business, Trump, Biden, Lake Research Partners, Democrat, Voters, Morning, Federal, Moody's, House, Democrats, National Economic, GOP, Business Locations: China, California, Las Vegas

☆ The 10 most affordable places to live in the U.S. based on quality of life, the job market and more
▼ + stars: | 2024-08-13 | by ( Celia Fernandez | ) www.cnbc.com time to read: +1 min

To afford life in a big city like San Francisco, California, you'd have to make double what most Americans earn, according to a May Moody's Analytics analysis. U.S. News and World Report released its ranking of the cities with the lowest cost of living, based on the median gross rent and annual housing costs for mortgage-paying homeowners. The ranking used data from sources including the U.S. Census Bureau, the FBI and the U.S. Department of Labor. The data was categorized into four indexes:Quality of life: How satisfied residents are with their daily livesHow satisfied residents are with their daily lives Value: How comfortably the average resident of each city can afford to live within their meansHow comfortably the average resident of each city can afford to live within their means Desirability: Which ranked cities people would most like to liveWhich ranked cities people would most like to live Job market: The strength of each city's job marketEach index was given a score of 0-10.

Organizations: . News, U.S . Census Bureau, FBI, U.S . Department of Labor Locations: San Francisco , California

☆ Israel’s credit rating cut as conflicts drag on
▼ + stars: | 2024-08-12 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

CNN —Israel’s credit rating was downgraded by Fitch Ratings on Monday, after the agency cited concerns around the ongoing war with Hamas and geopolitical risks. Analysts from Fitch said the “the conflict in Gaza could last well into 2025,” and there are risks of the conflict spreading. The agency predicts Israel’s budget deficit to reach 7.8% of its GDP in 2024, compared to 4.1% in 2023. Fitch also expects Israel’s debt-to-GDP to remain above 70% into 2025, whereas the median A rating ratio is 55%. Moody’s Investor Service downgraded Israel’s credit rating from A1 to A2 in February.

Persons: Fitch, ” Fitch, Fitch, Moody’s, ”, Samantha Delouya Organizations: CNN, Fitch, Lebanese, Moody’s Investor, Hamas Locations: Gaza, ”, Israel

☆ Californians are buying fewer Teslas. That could be a bad sign for Elon Musk.
▼ + stars: | 2024-08-11 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

Read previewTesla has a California problem — its residents aren't buying as many of Elon Musk's electric cars as they used to. And California isn't the only place where Tesla's chokehold on the EV market is beginning to slip. Tesla CEO Elon Musk has attributed lackluster sales to high interest rates and economic uncertainty in the US. But, while Tesla's sales are dropping, the EV market as a whole is expanding, including in California. Similarly, data from CNCDA shows that EV sales in California hit their second-highest quarter on record in July.

Persons: —, Tesla, Elon, Elon Musk, Gavin Newsom, Newsom, Noam Galai, Musk, Donald Trump, wouldn't, Ivan Drury, Edmunds, California there's, Brian Moody, Moody Organizations: Service, Golden State, Car Dealers, US, Business, Cox Automotive, California, Forbes, Experian Automotive, SpaceX, Democratic Party, Auto Locations: California

☆ Where BlackRock's Rick Rieder sees income opportunity amid the market volatility
▼ + stars: | 2024-08-06 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

As investors search for income amid the market volatility, high-yield bonds are an attractive place to be, according to BlackRock's Rick Rieder. Meanwhile, credit spreads in corporate and high-yield bonds — which have been tight — are widening . Bonds rated BB+ and lower by Standard & Poor's and Fitch, as well as those rated Ba1 by Moody's, are considered high yield. Rieder also manages the BlackRock Flexible Income ETF , which has about 20% of its portfolio in high-yield credit, its second-largest sector holding. BINC YTD mountain BlackRock High Yield ETF year to date He has been reducing some exposure to investment grade bonds.

Persons: BlackRock's Rick Rieder, Stocks, Bonds, Fitch, Rieder Organizations: Dow Jones, Treasury, Poor's, Moody's, SEC, Federal Locations: BlackRock

☆ Trump quiet on markets after stock rebound robs him of 'Kamala Crash' attack line
▼ + stars: | 2024-08-06 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +4 min

Republican presidential nominee and former U.S. President Donald Trump holds a campaign rally in Harrisburg, Pennsylvania, U.S., July 31, 2024. It requires steady leadership — the kind President Trump delivered for four years." Trump published at least nine separate posts on Truth Social Monday, blaming the stock market slump on the administration's policies under President Joe Biden and Harris. "THIS IS THE TRUMP STOCK MARKET," Trump wrote in an all-caps Truth Social post, "BECAUSE MY POLLS AGAINST BIDEN ARE SO GOOD THAT INVESTORS ARE PROJECTING THAT I WILL WIN, AND THAT WILL DRIVE THE MARKET UP." "Former President Trump is the first to do that," Zandi added.

Persons: Donald Trump, Kamala Harris, Harris, Kamala, KAMALA, Trump, Ohio Sen, JD Vance, Joe Biden, Dow, Biden, Mark Zandi, Zandi Organizations: Republican, Dow Jones, Dow, Federal Reserve, Trump, Democratic, TRUMP, CNBC, BIDEN, WIN, Voters Locations: Harrisburg , Pennsylvania, U.S

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