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☆ Stock market today: Indexes edge up ahead of major Fed interest rate decision
▼ + stars: | 2024-09-18 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

US indexes edged higher as investors waited for a likely interest rate cut from the Fed. AdvertisementUS stocks rose on Wednesday as traders readied for what's likely to be the Federal Reserves's first rate cut in four years. "Though consensus is leaning toward a 50 basis point move, we look for the Fed to cut by 25 basis points today. AdvertisementFollowing the interest rate decision, all eyes will be on Fed Chair Jerome Powell, who will deliver prepared remarks during a press conference. "While the market has usually bounced immediately following the 2 PM rate decision, the sell-off usually starts at or near the end of Powell's post-FOMC press conference."

Persons: Jerome Powell's, —, John Lynch, José Torres, Jerome Powell, Powell, shouldn't Organizations: Fed, Traders, Service, Federal, Comerica Wealth Management, Interactive, Deutsche Bank, Investment

☆ 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

☆ Asia-Pacific markets open mixed as investors await Federal Reserve's rate decision
▼ + stars: | 2024-09-18 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets opened mixed on Wednesday, following gains on Wall Street that saw both the S&P 500 and the Dow Jones Industrial Average reach new highs. Investors await the Federal Reserve's rate decision due Wednesday stateside, and will also assess economic data from Japan as well the Indonesian central bank's rate decision. Japan's private sector machinery orders in July declined 0.1% from the previous month, according to data from the Cabinet Office, missing Reuters estimates of a 0.5% increase. Bank Indonesia is set to meet Wednesday for a key BI-rate decision. The policy rate stands at its highest level since 2016, even as inflation has cooled to well within the central bank's 1.5%-3.5% target.

Organizations: Dow Jones, Japan's Ministry of Finance, Bank Indonesia Locations: Asia, Pacific, Japan, Indonesian

☆ Japan faces labor shortages and demographic crisis as elderly population hits record high
▼ + stars: | 2024-09-18 | by ( Dylan Butts | Cnbc Brand Studio | ) www.cnbc.com time to read: +1 min

Japan commemorated its "Respect for the Aged Day" earlier this week, with the national holiday underscoring a somewhat problematic fact — the country has a record number of elderly citizens to celebrate. Government data released ahead of the event showed that Japan's population of people aged 65 and over had risen to an all-time high of 36.25 million. A survey from Teikoku Databank last month showed that 51% of companies across sectors in Japan feel there is a shortage of full-time employees. Meanwhile, 2023 saw the number of Japan's workers aged 65 and over rise for a 20th consecutive year to reach a record 9.14 million, Statistics Bureau data showed. Feldman warned that as these elderly workers begin to retire from the workforce, there won't be the same number of young workers stepping up to replace them.

Persons: Robert Feldman, Morgan, Databank, Feldman Organizations: Statistics Bureau, Ministry of Internal Affairs and Communications, Morgan Stanley, Securities Locations: Japan

☆ I take quiet vacations from my $300,000 Wall Street job because the work isn't fulfilling. Here's how I get away with it.
▼ + stars: | 2024-09-18 | by ( Robin Madell | ) www.businessinsider.com time to read: +7 min

Read previewThis as-told-to essay is based on a conversation with a 42-year-old vice president at a Wall Street bank in New York City. I work in tech for a Wall Street bank, and I quiet vacation. I do the bare minimum work for my Wall Street job because the pay and bonuses aren't as good as they used to beI wanted to work on Wall Street because of the money. Even on Wall Street, it seems like once people fall into a way of thinking, they stick with it their entire lives. On Wall Street, it's more important not to make any mistakes than to see how many hours someone can sit in an office.

Persons: —, I've, he'd, I'm, Lauryn Haas Organizations: Service, Business, Microsoft, lhaas Locations: New York City, Virginia, Atlantic City, Ocean City

☆ 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

☆ 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

☆ Smith: The Fed should be more measured now instead of making a big, bold move
▼ + 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 EmailSmith: The Fed should be more measured now instead of making a big, bold moveWells Fargo Advisors' Mark Smith says he doesn't see the need for a 50 basis point rate cut based on the economic data, and the Fed would want to have some tools available should conditions take a turn for the worse.

Persons: Smith, Wells, Mark Smith Organizations: Advisors

☆ 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, —

☆ 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

☆ 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

☆ 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

☆ 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

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

☆ 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

☆ 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

☆ Nvidia vs. Alphabet: Fund manager reveals which to hold, and which to sell
▼ + stars: | 2024-09-18 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +4 min

Google-parent Alphabet has long been an investor favorite among tech stocks, but one portfolio manager says he's now steering clear. Shares in Alphabet are up around 13% year-to-date and trade around 20.6 times forward earnings, according to FactSet data. 'Core investments' Beyond Alphabet, Cvetanovski remains bullish on other tech stocks, naming Nvidia , Vertiv , ASML , Taiwan Semiconductor Manufacturing Co and Schneider Electric as his "core investments." Nvidia is trading at over 41 times forward earnings, according to FactSet data. Analysts' average price target is $149.49, giving it 28% potential upside, FactSet data shows.

Persons: he's, We've, SearchGPT, Jordan, OpenAI, Cvetanovski, we've, — CNBC's Jennifer Elias Organizations: Google, Microsoft, Pella Funds, Apple, Nvidia, Taiwan Semiconductor Manufacturing Co, Schneider Electric Locations: Sydney, Pella, Cvetanovski, ASML

☆ 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

☆ 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

☆ How to make the Fed rate cut work for you
▼ + stars: | 2024-09-18 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +11 min

In its August survey of car shoppers, a majority (64%) said a Fed rate cut likely would affect the timing of their purchase. But here’s the thing: Car loan rates are pretty high — the average is 7.1% for new cars and 11.3% for used cars, according to Edmunds. If you do buy a home this year and are considering buying down points to reduce your mortgage rate, crunch some numbers first, Diodato advised. That’s because you will pay thousands of dollars to buy down your mortgage rate now, and then thousands more in fees to refinance. What to do if you’re not near retirement: Reconsider how much money you’re keeping in cash or cash-equivalent investments.

Persons: Jerome Powell, Powell, “, ”, Greg McBride, McBride, Chris Diodato, Jessica Caldwell, ” McBride, Caldwell, We’re, Diodato, you’ll, won’t, Kathy Jones, Jones Organizations: CNN, Federal Reserve, Bankrate.com, Fed, Treasury, FDIC, Schwab Center, Financial Research, AAA, Bond Locations: Edmunds, Schwab.com

☆ 3 couples who recently got mortgage interest rates under 3% share how they did it
▼ + stars: | 2024-09-18 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +10 min

Read previewOver the past few years, US mortgage rates have fluctuated wildly, leaving both homebuyers and sellers scrambling. AdvertisementThis can lead to significantly lower interest rates, making monthly mortgage payments more affordable and saving thousands over the life of the loan. The Federal Open Market Committee, which oversees US monetary policy, is expected to cut interest rates at its meeting this week. This could lead to further declines in mortgage rates in the coming months. Here are the stories of three homebuying couples who secured mortgage rates below 3% since March 2023 using assumable mortgages.

Persons: —, Louis, Freddie Mac, aren't, Grace Lucchese, Mickey Ricard, Boston —, Lucchese, Ricard, Riccard, Brian Sankey, Fort Knox, Sankey, Brian Sankey Sankey, wouldn't, Amy Yzaguirre, Yzaguirre, I've Organizations: Service, Federal, Fed, Federal Reserve Bank of St, Business, Federal Housing Administration, Department of Veterans Affairs, Market Committee, Boston, Lucchese, assumable Veterans Affairs, Veterans Affairs, Army, Toyota Tacoma Locations: Lucchese's, Sudbury , Massachusetts, Boston, couple's Massachusetts, Elizabethtown , Kentucky, Fort, Elizabethtown, Oregon, Idaho, Tigard, Portland, Sherwood

☆ Charts suggest traders should wait before they keep chasing utilities — the hottest trade of the year
▼ + stars: | 2024-09-18 | by ( Frank Cappelleri | ) www.cnbc.com time to read: +5 min

Traders instantly react to the data (sometimes wildly so), especially when the actual numbers are distinctly different than estimates. Thus, historically, XLU has been correlated with the direction of treasury bonds (which move in the opposite direction of bond yields). Here's a chart with XLU and the TLT 20+ Year Treasury Bond ETF, which we're using since it's the most widely traded treasury bond ETF. From 2022 through 2023, XLU and TLT moved in the same direction more often than not. Another reason is simply that investors are aggressively seeking yield producing instruments, with the understanding that bond yields were destined to fall.

Persons: XLU, That's, TLT, We're Organizations: Federal Reserve, PPI, Utilities, Treasury Bond ETF, Bollinger, CNBC, NBC UNIVERSAL Locations: XLU

☆ Traders see small caps and short-term bonds as big winners from likely Fed rate cut
▼ + stars: | 2024-09-18 | by ( Frank Holland | In Frank-Holland | ) www.cnbc.com time to read: +2 min

(This is a wrap-up of the key money moving discussions on CNBC's "Worldwide Exchange" exclusive for PRO subscribers. Traders and investors are debating if the Federal Reserve will cut 25 basis points or 50 basis points when the decision comes at 2pm eastern time. "25 or 50 (basis points), we see a credible case for either. "The Fed is likely to adjust policy by 200 to 250 basis points over the coming year. Garewal also said this rate cut was part of a "normalization" cycle and shared research that yields on the 2-year fall 65 basis points on average after a first Fed cut.

Persons: Jerome Powell, Mark Smith, Wells, stagflation, Smith, Craig Johnson, Piper Sandler, Russell, Johnson, Goldman Sachs, Garewal, Piper Sandler's Johnson, Huntington, Kevin Murphy Organizations: PRO, Worldwide, Traders, Federal Reserve, Advisors, Worldwide Exchange, Blackstone, Mastercard, Visa, Ameris Bancorp, Fed, Ferguson Enterprises

Read previewOn Monday, Amazon mandated corporate workers return to the office five days a week beginning January 2nd. AdvertisementHere's a list, in alphabetical order, of major companies requiring employees to return to offices. BlackRockLast year, BlackRock mandated employees return to the office four days a week. MetaMeta updated its remote work policies in September 2023, requiring employees to head into the office three days a week. AdvertisementWalmartAlong with slashing hundreds of jobs, Walmart also asked previously remote employees in the US to move to offices.

Persons: —, Goldman Sachs, Andy Jassy, We've, Jassy, Insider's Ashley Stewart, It's, Apple's, Tim Cook, Rob Goldstein, Caroline Heller, Chipotle, Bob Iger, Iger, signees, David Solomon, Fortune, Fiona Cicconi, Arvind Krishna, Jamie Dimon, Redfin, Glenn Kelman, Salesforce Salesforce, Marc Benioff, Howard Schultz, Schultz, Tesla, Elon Musk, nodded, Musk, X, Yao Yue, Yue, Dara Khosrowshahi Organizations: Service, JPMorgan, Business, Amazon, Apple, BlackRock, Hudson, Bloomberg, Citigroup Citigroup, HSBC Holding Plc, Barclays, Citigroup, Reuters, Disney, The Washington Post, CNBC, Google, San Francisco Bay Area, IBM IBM, IBM, Meta Meta, Frisco, San Francisco Standard, Engineers, Starbucks, Elon, Twitter, National Labor Relations, Walmart, Street Journal Locations: Seattle, New York City, San Francisco Bay, San Francisco, Dallas , Atlanta, Toronto, Arkansas, New Jersey

☆ The Fed gives the US its first jumbo interest-rate cut in 4 years
▼ + stars: | 2024-09-18 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

It's the first time the Federal Reserve has cut rates since March 2020. The unemployment rate also ticked down in August, giving the Fed the data it needed to cut rates. AdvertisementAccording to CME FedWatch, which estimates interest-rate changes based on market predictions, a rate cut was all but certain; the question was how big of a cut the Fed would implement. Additionally, some economists and Democratic lawmakers had for months been calling for a rate cut of at least 50 basis points. "They're going to cut rates this week," Bharat Ramamurti, a senior advisor for economic strategy at the American Economic Liberties Project, told reporters during a Monday briefing.

Persons: —, Jerome Powell's, Skanda Amarnath, Democratic Sens, Elizabeth Warren, John Hickenlooper, Sheldon Whitehouse, Powell, delinquencies, Bharat Ramamurti Organizations: Service, Federal, Market Committee, Federal Reserve, Business, CME FedWatch, Democratic, Fed, American Economic Liberties Locations: Jackson Hole , Wyoming, America

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