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Tuesday's retail sales data boosted soft landing outlooks. AdvertisementIndexes were mixed on Tuesday with investors still split on the potential size of an interest rate cut, with less than 24-hours to go before the Federal Reserve announces its policy decision. Unanticipated strength in Tuesday's retail sales data convinced investors that the economy remains robust, and the S&P 500 briefly hit a record high before paring gains. Bond yields edged up ahead of the Fed decision, nodding to the possibility that the odds of a jumbo rate cut fell after retail sales surprised to the upside. AdvertisementStrong retail sales suggest that the Fed does not necessarily have to hurry with larger cuts, as the consumer economy appears intact for now.
Persons: , LPL, Jeffrey Roach Organizations: Service, Federal Reserve, bitcoin, Treasury
Alistair Berg | Digitalvision | Getty ImagesPlanning to work longer is a popular escape hatch for Americans who feel they've saved too little to support themselves in old age. About 27% of workers intend to work in retirement because they need to supplement their income, according to a new CNBC and SurveyMonkey survey. While working longer is among the best ways to shore up one's nest egg, the plan may backfire, according to retirement experts. If workers lose those wages, they'd have to figure out another way to make their retirement savings last. There are benefits to working longerWorking longer — for those who can do it — is a financial boon, according to retirement experts.
Persons: Alistair Berg, Digitalvision, they've, Philip Chao, Chao, EBRI Organizations: Getty, CNBC, Workers, Urban Locations: John , Maryland
Speaking to CNBC in an exclusive interview, Reserve Bank of India (RBI) Governor Shaktikanta Das discussed the issue of slowing growth in bank deposits underperforming an expansion in loans. "So there is a gap of 350 to 400 basis points," he said, referencing the difference between credit and deposit growth. Annual figures from August put loan growth at 13.6% with deposit growth at 10.8%, according to Reuters. When lending outpaces deposits, net interest margins — or the difference between what a bank earns on loans and pays out for deposits — take a hit. India's GDP slowed to 6.7% in the second quarter compared to last year's 8.2%, piling pressure on the central bank to reverse a recent hiking cycle.
Persons: Shaktikanta Das, Das, Ashish Gupta, CNBC's Organizations: CNBC, Reserve Bank of India, Reuters, Mutual Fund, Monetary, MPC Locations: India
Speaker of the House Mike Johnson, R-La., talks with reporters in the U.S. Capitol after the last votes of the week on Thursday, September 12, 2024. U.S House Speaker Mike Johnson said he would preserve some of the clean energy tax credits enacted under President Joe Biden but would seek to eliminate others, as an upcoming battle over taxes next year comes into focus in Washington. Johnson declined to specify which provisions he would support keeping in place, saying he's "not putting any of that on the table yet." More than a dozen members of Johnson's own party, many of whom face difficult re-election fights, asked the speaker in a letter last month to preserve some of the tax credits and deductions in the IRA. "Prematurely repealing energy tax credits, particularly those which were used to justify investments that already broke ground, would undermine private investments and stop development that is already ongoing," the 18 lawmakers wrote in the letter.
Persons: Mike Johnson, Joe Biden, You've, Johnson Organizations: U.S, Capitol, CNBC, Louisiana Republican, Riggs, D.C, Republican Locations: Washington, Louisiana
Stocks pushed higher as positive retail sales surprised investors. All eyes are on the Federal Reserve's likely interest rate cut on Wednesday. AdvertisementStocks moved higher after stronger-than-expected US retail sales boosted confidence in consumer health, as the Federal Reserve's two-day policy meeting is set to kick off. Retail sales increased 0.1% last month, compared to consensus estimates of a 0.2% decline. Strong retail sales suggest that the Fed does not necessarily have to hurry with larger cuts, as the consumer economy appears intact for now.
Persons: Stocks, , That's, Scott Helfstein Organizations: Service, Federal, Investment, Global
Currencies listless as markets waffle over Fed rate cut
  + stars: | 2024-09-16 | by ( ) www.cnbc.com   time to read: +4 min
A quarter-point reduction by the Fed as it kicks off its rate cuts is still seen as the slightly more likely outcome, but only marginally so. Futures price a total of 125 basis points in rate cuts in 2024. Investors are also looking to the Bank of Japan's interest rate decision on Friday, when it is expected to keep its short-term policy rate target steady at 0.25%. Bank of Canada Governor Tiff Macklem meanwhile opened the door to stepping up the pace of interest rate cuts, the Financial Times reported on Sunday. The BoC, after keeping its key policy rate at 5%, a more than two-decade high, for a year, has trimmed it by a quarter point three times in a row since June.
Persons: Chris Weston, Fumio Kishida, Sanae Takaichi, Christine Lagarde, Philip R, Lane, Luis de Guindos Organizations: U.S, Bank of England, Bank of Japan, Treasury, Fed, FedWatch, Bank of, Liberal Democratic Party, Sterling, European Central Bank, ECB, Bank of Canada, Financial Times, BoC Locations: Japan, Asia, China, South Korea
Crews battling three major California fires could get some relief from record heat and help from the weather as a cooldown preceded minor containment for the blazes. Hot, flame-fanning winds from the desert are dissipating, and the cooler temps may help firefighters give the blaze their best. Firefighters cut and extinguish a fire in a tree as the Bridge Fire burns in the Big Pines hills near Wrightwood, Calif., on Thursday. He also said mutual aid from Washington, Utah, and North Dakota, including firefighters, were sent to Southern California. The weather outlook should give firefighters the weekend and beyond to battle the three fires without unforgiving temperatures.
Persons: Crews, Craig Covey, ” Covey, Etienne Laurent, Anthony Marrone, Kristian Litz, Litz, Jeremy Pierce, Pierce, Justin Wayne Halstenberg, San Bernardino, Fabian Herrera, Gavin Newsom Organizations: California Department of Forestry, Rancho Santa Margarita, Orange County Sheriff's Department . Authorities, AFP, Getty, Angeles County Fire, The California Department of Forestry, Fire Protection, Firefighters, National Guard, National Weather Service Locations: California, Trabuco, Los Angeles, Rancho Santa, Orange, Riverside County, San Bernardino, San Gabriel, Nowhere, Big Pines, Wrightwood, Calif, Angeles, Mount Baldy, Big, San Bernardino County, Highland, San, Washington , Utah, North Dakota, Southern California, San Diego, Los Angeles County
Even with recent rotation away from megacap tech stocks, there may still be a case for investing in thematic tech exchange-traded funds. Roundhill Investments runs the Roundhill Generative AI & Technology ETF (CHAT), which is up 13.8% year to date as of Friday's market close. But despite recent volatility in the group, the firm's CEO Dave Mazza thinks the investment thesis is still intact. Pointing to some of CHAT's under-the-radar artificial intelligence plays, Mazza waived off concerns that thematic ETFs may be too narrow in scope. "There are companies like Dell in the portfolio and others, ServiceNow and Salesforce , who are using AI and integrating AI," he said.
Persons: Dave Mazza, CNBC's, Mazza Organizations: Roundhill Investments, Technology, Nvidia, Microsoft, Dell Locations: CHAT's
Swallowed eels escape via predator fish’s gills
  + stars: | 2024-09-13 | by ( Mindy Weisberger | ) edition.cnn.com   time to read: +6 min
Dark sleeper fish (Odontobutis obscura) can gulp down young Japanese eels (Anguilla japonica) whole, but the swallowed eels can wriggle back up through the digestive tract and out of the stomach, swimming to freedom through the bigger fish’s gills, scientists recently discovered. “Witnessing the eels’ desperate escape from the predator’s stomach to the gills was truly astonishing for us.”A Japanese eel exhibits circling behavior along a predator's stomach wall in this X-ray video footage. But while they observed swallowed eels wriggling tailfirst from dark sleepers’ gills, “we had no understanding of their escape routes and behavioral patterns during the escape because it occurred inside the predator’s body,” Hasegawa said via email. Once a predator swallowed an eel, the sated fish was quickly moved to a special tank where the X-ray video camera was ready to roll. On average, it took about 3 ½ minutes for a swallowed eel to reappear and swim away.
Persons: , Yuha Hasegawa, Yuuki Kawabata, ichthyologist Kory Evans, , ” Evans, ’ Hasegawa, Kazuki Yokouchi, Nagasaki University —, ” Hasegawa, Prosanta, Mindy Weisberger Organizations: CNN, Graduate School of Fisheries, Environmental Sciences, Japan’s Nagasaki University, , biosciences, Rice University, Japan Fisheries Research, Education Agency, Nagasaki University, Louisiana State University, LSU Museum of Natural Science, Scientific Locations: Anguilla, Houston
Handwritten notes from Justice Sandra Day O'Connor's papers on a major abortion case in 1989. The correspondence and notes foreshadow where O’Connor landed in the 1992 Planned Parenthood v. Casey case, when Justice Anthony Kennedy, hostile to Roe v. Wade in 1989, was ready to join O’Connor in upholding Roe. Accelerating the tensions all around was the time pressure of the Missouri case. O’Connor wrote that Kennedy said, “Roe is just flawed analytically” and that he wanted to “return this debate to democratic process” in the states. Library of CongressDraft opinion language from Justice John Paul Stevens he sent to Justice Sandra Day O'Connor.
Persons: Sandra O’Connor, eviscerate Roe, Wade, O’Connor, Roe, Antonin Scalia, William Rehnquist, Rehnquist, — Webster, Reproductive Health Services —, ” Rehnquist, Sandra Day, George H.W, Reagan, bristled, , Scalia, John Paul Stevens, Gerald Ford, Casey, Anthony Kennedy, Dobbs, Samuel Alito, Webster, Kennedy, “ Nino, ” Scalia, ” O’Connor, “ Roe, O’Connor’s, Roe “, Byron White, , Byron, Sandra, Nino, Tony …, White, Sandra Day O'Connor, Congress O’Connor, bemoaning, overruling Roe, ” Stevens, reexamine Roe, reconsidering Roe, Stevens, Stevens ’, inched, John . ”, , William Brennan, David Souter, Bush Organizations: CNN, Reproductive Health Services, Congress, Library, O’Connor, Stanford Law School, Roe, Chicago, Stevens, Kennedy Locations: Missouri, Roe, Bush, Ohio, Pennsylvania, Phoenix, Minnesota
Adobe shares fall 9% on weak fourth-quarter guidance
  + stars: | 2024-09-13 | by ( Ashley Capoot | In | ) www.cnbc.com   time to read: +2 min
Adobe CEO Shantanu Narayen speaks during an interview with CNBC on the floor at the New York Stock Exchange in New York City, Feb. 20, 2024. Shares of Adobe fell more than 9% on Friday, a day after the software company released third-quarter results that offered worse-than-expected guidance for the fourth quarter. Adobe reported $5.41 billion in revenue for the quarter, up 11% year over year and above the $5.37 billion expected by analysts according to LSEG. Analysts at Bank of America said Adobe reported results and outlook that were somewhat mixed but healthy overall. "No change to our positive view on Adobe," they wrote in a Friday note.
Persons: Shantanu Narayen, LSEG, Goldman Sachs, Adobe's, — CNBC's Michael Bloom, Kif Leswing Organizations: CNBC, New York Stock Exchange, Adobe, Bank of America, Microsoft, UBS Locations: New York City
“Anywhere you walked, body parts,” he said. Many of the bodies were burned and dismembered beyond recognition, Gaza Civil Defense spokesman Mahmoud Basal told NBC News. At least 93 people were believed to have been killed in the strike, according to the Gaza Civil Defense agency. “We only saw body parts of him,” he said. Mahany said that in the days following the strike, he would also learn that two of his other children had been killed.
Persons: Ashraf Juda, shrouds, Noah Al, , Sharnouby, Mahmoud Basal, Ahmed Radi, ” Radi, ” Mustafa Mahany, , Mahany, Israel, ” Mahany, Daniel Hagari, Richard Weir Organizations: Central Camps Brigade, NBC News, Gaza’s Civil Defense, Gaza Civil, Gaza Civil Defense, Al, Ahli Arab Hospital, IDF, Boeing, Human Rights Locations: Territories, Gaza, Ahli, Gaza City, U.S
Gold inches higher as investors eye U.S. data for rate cues
  + stars: | 2024-09-12 | by ( ) www.cnbc.com   time to read: +2 min
Gold prices edged higher on Thursday, with traders focusing on the upcoming U.S. economic data that may offer further insights into an expected reduction in the Federal Reserve's interest rate next week. Gold prices edged higher on Thursday, with traders focusing on the upcoming U.S. economic data that may offer further insights into an expected reduction in the Federal Reserve's interest rate next week. Data on Wednesday showed that U.S. consumer prices rose marginally in August, but underlying inflation showed some stickiness, which could discourage the Federal Reserve from delivering a half-point interest rate cut next week. CPI data showed no major inflation spikes, which is supporting gold prices to hold above $2,500 and suggesting no immediate changes to Fed policy, Wong added. Palladium climbed 1.3% to $1,021.84, its highest since July 8, following comments on export regulations from Russian President Vladimir Putin.
Persons: Kelvin Wong, OANDA's, Price, Wong, Vladimir Putin, Putin Organizations: Asia Pacific, Traders, U.S, PPI, Reserve, West Locations: U.S, Moscow
A judge on Thursday dismissed two criminal counts against Donald Trump in his Georgia election interference case, but kept intact the top racketeering charge and other counts against the former president and other defendants. Fulton County Superior Judge Scott McAfee also tossed out a third count that had been lodged against a number of Trump allies. The third count the judge tossed — numbered as Count 14 in the indictment — was criminal attempt to commit filing false documents. In March, judge tossed out three counts of solicitation of violation of oath by a public officer that had been lodged against Trump. Trump's appeal is set to be heard in oral arguments at the Georgia Court of Appeals in December.
Persons: Donald Trump, Scott McAfee, Trump, Racketeer, Joe Biden, Steve Sadow, Sadow, McAfee, , Loney, Fani Willis Organizations: Central Wisconsin Airport, Trump, Republican, White, U.S, Supreme, Georgia, of Appeals Locations: Mosinee , Wisconsin, Georgia, Fulton County
Grotte Mandrin is the only known site to have been home to alternating groups of both Homo sapiens and Homo neanderthalensis. “The Thorin population spent 50,000 years without exchanging genes with other Neanderthal populations,” Slimak said in a news release. DNA from Homo sapiens fossils from that time show that these early arrivals interbred with Neanderthals — traces of those encounters remain in present-day human populations. Archaeologists have excavated more of Thorin’s remains: 31 teeth, part of the jaw and five finger bones, so far. It’s the only known site to have been home to alternating groups of both Homo sapiens and Neanderthals, plus the earliest evidence of bow and arrow use outside Africa.
Persons: Ludovic Slimak, Thorin, , Slimak, , Mandrin, ” Slimak, Ludovic, sapiens, Chris Stringer, wasn’t, ” Stringer, ” It’s, Grotte Mandrin Organizations: CNN, France’s National, for Scientific Research, Paul Sabatier University, Genomics Locations: Rhône, Toulouse, Western Europe, Europe, Grotte, Malataverne, France, Thorin’s, Africa
Related stories"I think it's very understandable to feel grief while experiencing a friend's divorce," Hui told Business Insider. With divorce or separation, the members may have to renegotiate their relationship not only to the partner that is separating but to the partner's friends or family," Hui said. A friend's split can make us "think of our own relationship to divorce, changes, and endings in relationships" and bring up feelings of loss, sadness, anger, or betrayal. AdvertisementI was able to move forwardTaking Hui's advice, I ruminated on what exactly this divorce was bringing up for me. AdvertisementOur friend group has rallied around our friend and each other, creating a new chosen family built on honesty, empathy, and support.
Persons: , I'm, Cassandra, Troy, They're, shamefully, Aaron Hui, Hui, it's Organizations: Service, Business
Deutsche Bank on what stocks to buy if Kamala Harris wins
  + stars: | 2024-09-12 | by ( Alex Harring | ) www.cnbc.com   time to read: +1 min
Deutsche Bank has some ideas on which stocks investors will want to hold if Kamala Harris comes out on top in November's presidential election. Following Tuesday night's debate , analyst Nicole DeBlase sent a note to clients looking at the themes and individual companies that stand to benefit from another four years of Democrats in the White House. Here's what she likes in this scenario: Residential construction suppliers, which can benefit from more housing support: Lennox International , Stanley Black & Decker , Carrier Global , Trane Technologies and Pentair Stocks tied to a "more cooperative and less protectionist world order": Stanley Black & Decker, Zurn Elkay Water Solutions Electric product and system makers, assuming an intact Inflation Reduction Act: Eaton , Hubbell , Vertiv HVAC stocks, for the same reason: Lennox International, Carrier Global, Trane Technologies, Johnson Controls International Regulation of per- and polyfluoroalkyl contaminants, known as PFAS: Xylem "From a high level, [a] Harris victory would likely bring more support for lower-income households (via housing subsidies/tax breaks) but higher corporate tax rates, less overt protectionism and legislation that limits/reverses climate change," DeBlase told clients. The election is almost universally expected to be close. One measure of economic "misery " appears to favor Harris, using data analysis from research firm Strategas — but only by a narrow margin.
Persons: Kamala Harris, Nicole DeBlase, Stanley Black, Decker, Pentair Stocks, Eaton, Hubbell, Harris, DeBlase Organizations: Deutsche Bank, Lennox International, Carrier, Trane Technologies, Pentair, Solutions, Johnson
Let me ask you something: Have you noticed that engagement bait questions are taking over your Threads feed? AdvertisementOn a side note, rage bait is having a moment right now. Related storiesThis kind of rage bait is effective and largely harmless. I played around with engagement bait because I'm a tech journalist who writes about social media platforms and am curious about how Threads works. For now, I promise no more rage bait.
Persons: I've, retweets, Ellen Oscar selfie, vapid, vloggers, I'm, It's, it's, they've, Beskostõi, baiters Organizations: Service, Elon Twitter, New, Facebook, Meta Locations: Cleveland, Upstate New York, New York City, Estonia, Instagram
For investors who just weathered a bout of summer turbulence, Goldman Sachs said expect more patchiness in stocks, but believes the bull market will remain intact. "However, we think the risk of a bear market remains low with relatively low recession risk, helped by a healthy private sector and central bank easing." The stock market benchmark has since recouped much of the losses, recently trading some 3.4% below its July 16 all-time high. A bear market represents at least a 20% decline from the S & P 500's record high, while even a correction would amount to a 10% drawdown. … Encouragingly, though … we are not staring at a severe slowdown," Bank of America said in a note to clients on Tuesday.
Persons: Goldman Sachs, Christian Mueller, Goldman, Mueller, Glissmann, Organizations: U.S, Bank of America, Federal Reserve Locations: U.S
SpaceX will launch its first uncrewed flight to Mars in two years time, Elon Musk said on Saturday. "If those landings go well, then the first crewed flights to Mars will be in 4 years," Musk added. AdvertisementThe first uncrewed flight to Mars on SpaceX's Starship will take place in two years time, the company's CEO Elon Musk said on Saturday. "The first Starships to Mars will launch in 2 years when the next Earth-Mars transfer window opens. These will be uncrewed to test the reliability of landing intact on Mars," Musk wrote in an X post.
Persons: Elon Musk, Musk, , SpaceX's Organizations: SpaceX, Service, Business
Jim Cramer names chip stocks to buy on the dip
  + stars: | 2024-09-09 | by ( Julie Coleman | ) www.cnbc.com   time to read: +2 min
CNBC's Jim Cramer on Monday recommended three chip stocks to buy at a discount: Micron , AMD and Arm . "I think the chip stocks have sold off way too hard," he said. The chip sector has retreated in recent weeks, with SMH , a prominent semiconductor exchange-traded fund, down more than 18% from its 52-week high in July, according to FactSet. Micron : Cramer called Micron "the market leader in memory chips," and said the hyperscalers building out data centers need memory. He added that he thinks the stock is currently cheap based on its earnings estimates for the next fiscal year.
Persons: CNBC's Jim Cramer, FactSet, Cramer, , stoking, AMD's Organizations: Micron, AMD, Nvidia, Apple
The newly discovered fossils preserved 3D structures within the delicate wing bones, which typically are found flattened like pancakes within rock layers. CT scans of the fossils provided a rare glimpse inside the wing bones belonging to two species of pterosaurs, including one new to science. These are not unlike those found in the wing bones of modern birds that flap their wings to fly, Rosenbach said. In contrast, spiral ridges within Arambourgiania’s wing bones resembled the interiors of vulture wing bones, which are thought to resist the forces associated with soaring. “They represent the largest animals with the capacity to fly,” Rosenbach said of the extinct reptiles.
Persons: Kierstin Rosenbach, It’s, Tal Inab, , philadelphiae, Jordan, Rosenbach, ” Rosenbach, Kierstin, Monique Perez, Stacy Kaneko, Danielle Goodvin, Jeff Wilson Mantilla, , Michael Benton, Benton, “ It’s, Dr Organizations: CNN, University of Michigan, University of Michigan’s, of Paleontology, University of Bristol Locations: what’s, Jordan, Africa, Ann Arbor, Arambourgiania, United Kingdom
The controversial plan to regreen a desert
  + stars: | 2024-09-08 | by ( Laura Paddison | ) edition.cnn.com   time to read: +11 min
The Dutch engineer wants to transform a huge stretch of inhospitable desert into green, fertile land teeming with wildlife. “The only holistic way out of this situation is with large-scale ecological regeneration”So-called desert regreening projects are not new, and this is one of a number around the world seeking to transform arid landscapes. Costfoto/NurPhoto/Getty ImagesFor van der Hoeven, it was further proof his plan could work. “The scale reaches a level that helps prove that restoration can be done on a planetary scale.”It would add to other huge desert regreening projects also underway. The project was scheduled to kick off this December, but conflict has slowed everything down, van der Hoeven said.
Persons: der Hoeven, , Van, van der Hoeven, Ali Moustafa, , Van der, der, it’s, John Liu, Wolfgang Kaehler, Liu, ” Liu, Susan Gardner, Gardner, Alice Hughes, ” Hughes, Raymond Pierrehumbert, Pierrehumbert, — “, Van der Heoven, He’s, Van der Hoeven Organizations: CNN, United Nations, World Bank, UN, Hong Kong University’s School of Biological Sciences, University of Oxford Locations: Dutch, Africa, Asia, Maryland, Dubai, Lake Bardawil, Sinai, Bardawil, Egypt, China, California, Gansu Province, Yongjing, Gansu province, Nairobi, Hong, Gaza
The spacecraft successfully launched and delivered NASA astronauts Butch Wilmore and Suni Williams to the International Space Station in June. But what seemed like an eight-day jaunt turned into months of questions surrounding Starliner’s ability to return the crew safely to Earth. NASAAfter nearly three months, the Starliner spacecraft returned to Earth without the two test pilots after undocking from the space station Friday night and parachuting into the New Mexico desert early Saturday. Starliner is the first US-made capsule to parachute to a ground landing, rather than splashing into the ocean. It remains to be seen how and when Starliner will be certified to carry astronauts regularly to space.
Persons: Boeing’s, , Butch Wilmore, Suni Williams, jaunt, Starliner, Williams, , Butch, Suni, , Steve Stich, mako, Guillermo López, Wells, Ashley Strickland, Katie Hunt Organizations: CNN, Radian Aerospace, NASA, International Space Station, Boeing, Starliner, European Union, Spanish, NSF, Cornell University, CNN Space, Science Locations: Seattle, New Mexico, Cod, Massachusetts, Zamora, Philippines, Luzon, Scotland
Trump had requested the delay to avoid the "politically prejudicial" impact a public sentencing could have on the election. The sentencing might not happen at all if Merchan's next major hush-money decision, now due November 12, overturns Trump's verdict or the indictment itself on presidential-immunity grounds. But Trump would have had to suffer — in person — through the sentencing proceeding itself. Only after sentencing would Trump have faced the possible loss of his liquor licenses in New Jersey. Trump has fought to overturn his conviction on immunity-based challenges lodged in state court and in federal court.
Persons: , Donald Trump, Juan Merchan, Merchan, Trump, Merchan's, overturns, they've, Kamala Harris, Stormy Daniels, Harris, They've, they'll Organizations: Service, Business, Democratic, Republican, Garden, US Locations: New, Manhattan, New Jersey, Garden State
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