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☆ Africa has been through the worst and can only get better: United Bank of Africa chairman
▼ + stars: | 2024-10-29 | 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 EmailAfrica has been through the worst and can only get better: United Bank of Africa chairmanTony Elumelu, United Bank of Africa chairman, talks to CNBC's Dan Murphy about investments and the economic challenges facing Africa.

Persons: Tony Elumelu, CNBC's Dan Murphy Organizations: United Bank of Africa Locations: United, Africa

☆ Cost of the Harris & Trump plans: Here's what to know
▼ + stars: | 2024-10-29 | 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 EmailCost of the Harris & Trump plans: Here's what to knowCNBC's Eamon Javers and Steve Liesman join 'Squawk Box' to discuss the cost of the economic proposals from Vice President Harris and former President Trump, the impact of soaring federal deficit, and more.

Persons: Harris, Eamon Javers, Steve Liesman, Trump Organizations: Trump

☆ The economy seems to be firing on all cylinders — but a veteran JPMorgan strategy chief says one underappreciated risk could cause a serious global slowdown
▼ + stars: | 2024-10-29 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

Corporate earnings growth, productivity growth, and business fixed investment all seem to be headed in the right direction as well. Related storiesThese signals have given David Kelly, JPMAM's chief global market strategist, great confidence. Such tariffs would cause "seismic shocks to the US economy," Tom Orlik, the chief economist at Bloomberg Economics, said earlier this month. Charles Schwab global investment strategy chief Jeffrey Kleintop cited tariffs as a top risk back in June. "But oddly enough, the global economy bounced back anyway.

Persons: David Kelly, —, JPMAM, Kelly, Donald Trump who's, Tom Orlik, Charles Schwab, Jeffrey Kleintop, I'd Organizations: JPMorgan Asset Management, Service, Asset Management, Federal Reserve, Bloomberg Economics, Peterson

☆ What's expected to get more and less expensive under Trump or Harris
▼ + stars: | 2024-10-29 | by ( Ayelet Sheffey | Brent D. Griffiths | ) www.businessinsider.com time to read: +10 min

Detailed below is what Harris and Trump have proposed to lower costs for Americans. AdvertisementWhile the pace of inflation has slowed, Americans continue to struggle with high prices at gas stations, grocery stores, and more. Those high prices have become a key issue for voters as the presidential election approaches. Both Donald Trump and Kamala Harris have outlined plans they say will lower costs for Americans through various policies. "If you were to try and cut down grocery prices today, there's no state of emergency.

Persons: Harris, Trump, —, Donald Trump, Kamala Harris, Tim Walz, Taylor Rogers, Dan Scheitrum, Scheitrum, it's, Rogers, Biden, Sen, JD Vance, Ohio Organizations: Service, Business, Democratic, Minnesota, Republican National Committee, Pew Research Center, California Polytechnic State University, Trump, Tax, Economic, of New, RNC, Census, Center, GOP, Gas, Biden, House, Strategic Petroleum Reserve Locations: America, Pennsylvania, Trump's, Las Vegas, of New York

☆ China is eyeing $1.4 trillion in fiscal stimulus and even more if Trump is elected, report says
▼ + stars: | 2024-10-29 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

China is considering a fresh $1.4 trillion stimulus, Reuters reported. The package could be approved next week and would increase in size if Trump wins the election. The large fiscal stimulus would be increased if Republican nominee and former President Donald Trump wins the US election, the report says. The remaining 4 trillion yuan would be raised by local government bonds and put toward idle land and property purchases, the sources told Reuters. AdvertisementIf Trump is elected, the stimulus package could be higher due to the economic challenges Trump's policies would pose for China, the sources told Reuters.

Persons: Trump's, —, Donald Trump, Trump, he's, Goldman Sachs Organizations: Reuters, Trump, Service, Republican, National People's Congress, China, Wall Locations: China, Beijing

☆ S&P 500 futures tick higher as Alphabet shares jump on earnings beat: Live updates
▼ + stars: | 2024-10-29 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Futures tied to the broad market index added nearly 0.2%, while Nasdaq 100 futures inched up by 0.1%. Alphabet kicked off a major week for megacap tech earnings. The Google parent exceeded analysts' expectations as the company saw strong quarterly revenue growth from its cloud business, leading shares up 5% after market close. In anticipation of the Big Tech earnings releases, investors drove the Nasdaq Composite to a fresh record during Tuesday's trading session. "We are closely monitoring tech earnings releases to ensure businesses investment in artificial intelligence and other productivity enhancing tools remains robust to support strong future earnings growth."

Persons: Dow, It's, Rob Haworth, Haworth Organizations: New York Stock Exchange, Nasdaq, Dow, Google, AMD, Tech, Meta, Microsoft, Apple, Big Tech, NASDAQ, U.S, Bank Asset Management

☆ The stock market’s best six-month period starts this week, especially for small caps
▼ + stars: | 2024-10-28 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

The S & P 500 typically advances about 7% from November to April, compared to the index's average 2% rise from May to October, according to CFRA Research chief investment strategist Sam Stovall. This year's market strength follows a standout 20% gain for the S & P 500 in 2023's "best six months" period, he noted. "This double-dose of double-digit returns has caused investors to wonder if the market has used up its energy reserves and may be headed for tough times," Stovall wrote. .SPX YTD mountain The S & P 500 has advanced more than 22% in 2024. Stocks were bhigher on both Friday and Monday , with the S & P 500 trading within a hair's breath of this month's all-time high of 5864.67.

Persons: Sam Stovall, Russell, Stocks, Stovall Organizations: Stock Traders, Research, Investors Locations: U.S

☆ Stock futures are little changed as Wall Street awaits labor data and more earnings: Live updates
▼ + stars: | 2024-10-28 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange during morning trading in New York City. Stock futures are muted Monday night as investors readied for employment data and closely followed corporate earnings releases. S&P 500 futures and Nasdaq 100 futures were also both little changed. Those moves come after a winning session on Wall Street for the three major indexes. Traders will keep an eye on earnings reports from major companies due on Tuesday as the busiest week of this earnings season continues.

Persons: Dow, Adam Crisafulli, McDonald's Organizations: New York Stock Exchange, Stock, Dow Jones Industrial, Nasdaq, Ford Motor, Corp, Traders, Pfizer Locations: New York City, Israel, Iran

☆ Despite a strong economy, some women are finding it harder to make ends meet
▼ + stars: | 2024-10-28 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

There is also a larger share of single women with children. As marriage rates fell, the number of women heading families rose. Across the board, women in the workforce faced steeper job losses and slower job recovery than men, according to research by the U.S. Census Bureau. Yet, even now, the labor force participation rate for women has not fully returned to pre-pandemic levels. "This is another area where we see returning to a pre-pandemic status quo as not good enough," said Julie Vogtman, the National Women's Law Center's director of job quality.

Persons: Marc Morial, Julie Vogtman Organizations: U.S, Center for American, Finance, U.S . Census, National Urban League, CNBC, National Women's Law

☆ Trump is taking his message to the heart of some of the bluest cities in the US. Here's why.
▼ + stars: | 2024-10-27 | by ( John L. Dorman | ) www.businessinsider.com time to read: +5 min

Trump has waded into deep blue territory to boost his candidacy among Black and Latino voters. He has sought to use this issue to cut into Harris' support among the very groups she'll need to win the presidency. This includes Black voters, who for decades have overwhelmingly backed Democratic politicians, and Latino voters, who have become less Democratic as a whole in recent years. A recent GenForward survey showed that 26% of young Black men backed Trump, compared to 58% who supported Harris. During a June debate with President Joe Biden, Trump said migrants were taking "Black jobs" and "Hispanic jobs."

Persons: Trump, he's, —, Donald Trump, Kamala Harris, Harris, there's, Anna Moneymaker, Joe Biden, Biden Organizations: Service, GOP, Democratic, Madison, Trump, Black, Biden, New York, Pew Research Center Locations: Atlanta, Detroit, Philadelphia, Manhattan, Bronx, New, Georgia , Michigan, Pennsylvania

☆ Big Tech CEOs are calling up Trump, seeking to rekindle their relationship with former president ahead of Election Day
▼ + stars: | 2024-10-27 | by ( Steve Contorno | Alayna Treene | ) edition.cnn.com time to read: +8 min

The stepped-up push by some of the world’s most influential Big Tech leaders to speak with the former president ahead of Election Day comes amid an exceptionally tight race between Trump and Vice President Kamala Harris. And it’s the latest sign of the greater business community seeking to rekindle a relationship with the former president in anticipation of a potential second term. I don’t want to have him, his administration, going after us,’” a person close to Trump told CNN. “If you look at Google lately, I think you’re going to see they’ve become much more inclined towards Trump,” the former president told conservative radio host Hugh Hewitt. “Let me tell you: All of those companies will be set free, if you have the right president,” Trump said.

Persons: Donald Trump, Tim Cook chatted, Trump, Sundar Pichai, “, ” Trump, Joe Rogan’s, Andy Jassy, Mark Zuckerberg, Kamala Harris, Elon Musk, Musk, ’, Evan Vucci, Jassy, Jeff Bezos, Michael M, Zuckerberg, he’s, Joe Biden’s, ”, Hugh Hewitt, “ They’re, Cook, ” CNN’s Clare Duffy, Kate Sullivan Organizations: CNN —, Trump, Apple, Las, Google, Republican, Amazon, CNN, Meta, Big Tech, Mar, Department of Justice, Silicon, Washington Post, Getty, Associated Press, titans, Facebook, Biden’s Department of Justice, Economic, of Chicago, European Union Locations: Europe, Las Vegas, Pennsylvania, Butler , Pennsylvania, New York City, Austin , Texas, Menlo Park , California, Harris

☆ How America's Economy Managed to Avoid Recession, Job Market Disaster
▼ + stars: | 2024-10-27 | by ( Neil Dutta | ) www.businessinsider.com time to read: +9 min

AdvertisementWe're not in a recessionTo determine whether the economy is in recession, it helps to first define the term. Sure, the yearlong payrolls were adjusted down, but the story has largely been the same: This is a cooling but not collapsing labor market. Despite the 50-basis-point interest-rate cut by Chairman Jerome Powell and the rest of the Fed, there's evidence of additional slowing in the labor market. Since the rate cut, I've grown more confident that it will act in the face of weaker employment data. If the labor market deteriorates and the unemployment rate increases, we ought not to rule out another 50-basis-point move.

Persons: We're, —, Jerome Powell, there's, Powell, Stocks Organizations: Federal, National Bureau of Economic Research, Social Security, Conference Locations: America

Today, 33-year-old Sweeney is a licensed funeral director and mortician in Warren, Minnesota, earning just over $87,000 per year. "I really don't fear death," he says, coming from what he describes as a "death-positive" family. The average pay for a funeral director is about $100,000, according to the Economic Research Institute. Sweeney's sense of community goes beyond his funeral director duties. In his role as a funeral director, Sweeney emphasizes the importance of allowing families to participate meaningfully during the funeral.

Persons: Victor M, Sweeney, Sweeney's, —, Ben Brewer, It's, Thomas Lynch, Sweeney engraves, I've, it's, Sweeney Organizations: CNBC, North Dakota State University, University of Minnesota, Economic Research Institute Locations: Warren , Minnesota, Detroit, Bismarck , North Dakota, Fargo, Canadian, Minnesota, U.S, Everyone's

☆ Commonwealth leaders say ‘time has come’ for discussion on UK slavery reparations
▼ + stars: | 2024-10-26 | by ( Story Reuters | ) edition.cnn.com time to read: +3 min

CNN —Commonwealth leaders, ending a week-long summit in Samoa, said on Saturday the time had come for a discussion on whether Britain should commit to reparations for its role in the transatlantic slave trade. The statement also made reference to “blackbirding”, a term for people from places including the Pacific Islands being deceived, coerced or kidnapped to work on plantations in Australia and elsewhere. Those opposed to reparations say countries should not be held responsible for historical wrongs, while those in support say the legacy of slavery has led to vast and persistent racial inequality. The joint statement did not mention what form reparations should take. Stefan Rousseau/Pool/ReutersStarmer told a press conference the joint statement did two things: “It notes calls for discussion and it agrees that this is the time for a conversation.

Persons: Keir Starmer, ”, blackbirding, Stefan Rousseau, Reuters Starmer, we’ve, Kingsley Abbott, Abbott Organizations: CNN, Commonwealth, Government, British, Caribbean Community, African Union, Reuters, Institute of Commonwealth Studies, University of London, Pacific Locations: Samoa, Britain, Australia, Tuvalu

☆ 10 US cities with the lowest cost of living, where things from buying a home to a grocery run are relatively affordable
▼ + stars: | 2024-10-26 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +2 min

Realtor.com identified the top 10 places in the US with the lowest cost of living. Small cities in the South and Midwest dominate the list, with a Texas city taking the top spot. While the cost of living varies widely from state to state and city to city, several spots across the US can offer residents a comfortable standard of living with prices that don't break the bank. "Home prices in these areas were $100,000 or more below the national median in September," Hannah Jones, senior economic research analyst at Realtor.com, said in the report. Below are the 10 US cities with the lowest cost of living.

Persons: Realtor.com, —, Hannah Jones Organizations: Service, Realtor.com Locations: South, Midwest, Texas, United States, Ohio

☆ Trump says he’s open to eliminating income taxes as he pushes sweeping tariff proposals on podcast with Joe Rogan
▼ + stars: | 2024-10-26 | by ( Kate Sullivan | Shania Shelton | ) edition.cnn.com time to read: +3 min

CNN —Former President Donald Trump said on Joe Rogan’s podcast Friday that he would be open to eliminating income taxes, while pushing his sweeping tariff proposal and praising the economic policies of the late 19th century. While talking about tariffs, Trump was asked by Rogan, “Did you just float out the idea of getting rid of income taxes and replacing it with tariffs?”“Well, OK,” Trump said during the interview on “The Joe Rogan Experience.”Rogan asked, “Were you serious about that?”“Yeah, sure. Rogan’s reversal on hosting TrumpThe interview comes after years of Rogan saying he would not have the former president on his podcast and recent attacks from Trump himself. “It will be interesting to see how loudly Joe Rogan gets BOOED the next time he enters the UFC Ring??? In the past three years, “The Joe Rogan Experience” has consistently been the No.

Persons: Donald Trump, Joe Rogan’s, Trump, Rogan, “, ” Trump, Joe Rogan, ” Rogan, McKinley —, “ I’m, I’ve, I’m, Lex, Robert F, Kennedy Jr, ”, ” “, Kamala Harris, Beyoncé, CNN’s Alayna, DJ Judd, Ali Main Organizations: CNN, Trump, Democratic Locations: America, Texas, Michigan

They Used to Be Ahead in the American Economy. But over 40 years, even as their inflation-adjusted income has remained relatively flat, they’ve fallen well below the average income. But over 40 years, even as their inflation-adjusted income has remained relatively flat, they’ve fallen well below the average income. In the reordering of the U.S. economy since 1980, white men without a degree have been surpassed in income by college-educated women. As the American economy has shifted over the past 40 years away from manufacturing and toward services and “knowledge” work, this less visible hierarchy within the economy has shifted, too.

Persons: Jobs, metalworkers, —, ”, Kathy Cramer, David Autor, Tom Kochan, Susan Houseman, “, Lisa Boscola, Arlie Hochschild, , appraisers, Cramer, Scott Paul, who’ve, Stephanie Ternullo, Boscola, they’re, Donald J, Noam Gidron, Trump, Rather, Biden, Kamala Harris, Stefanie Stantcheva, Stantcheva Organizations: University of Wisconsin, Workers, Labor, Upjohn Institute, Employment Research, Democratic, Bethlehem Steel, Berkeley, Alliance for American Manufacturing, Harvard, Electoral College, Democratic Party, Republican, Securities, Bank, Radio, Observers, Mr, Obama Locations: American, U.S, Wisconsin , Michigan, Pennsylvania, M.I.T, Manitowoc County, Wis, Wisconsin, Michigan, ”, I’m, America, Bethlehem, Pa

☆ The world's most accurate economist predicts the election outcome and its potential shock impact on the 10-year Treasury
▼ + stars: | 2024-10-26 | by ( Laila Maidan | ) www.businessinsider.com time to read: +6 min

Right now, he has his sights set on the US election, with its high stakes and wide range of economic possibilities. AdvertisementThe third scenario is a Trump win with a Republican sweep, which Barraud believes is the most likely outcome. In the short term, it would have a positive impact on US economic growth, creating a GDP boost in 2025 between 2.1% and 2.3%, he said. If Harris wins with a dividend Congress, yields could drop further from where they are, he said. This time, election forecasting includes monitoring multiple poll-betting markets with the highest volume of users to gauge election outcomes.

Persons: Christophe Barraud, —, Barraud, Kamala Harris, Donald Trump, Trump, there's, Harris Organizations: Service, Bloomberg, Market Securities Monaco, Trump, Republican Locations: Washington

☆ The biggest pressing market questions with two months to go in rewarding year
▼ + stars: | 2024-10-26 | by ( Michael Santoli | ) www.cnbc.com time to read: +10 min

And how should investors be thinking about future equity returns as the bull market enters its third year riding stellar multi-year performance and facing demanding valuations? So, expansionary policies that would quicken the economy's metabolism and produce more inflation was exactly what the market craved then – but now? Right now, the S & P 500 is up 42% from 18 months ago and fetches 22-times expected earnings. No reliable augurs of a coming bear market are in evidence: S & P up 10 of 11 months, making a new high in September, credit spreads resolutely narrow, all point to an upside bias over a span of months, at least. .SPX YTD mountain S & P 500, YTD Which leaves the question of just how much upside, if any, a bull should reasonably expect from here.

Persons: Warren Pies, Pat Tschosik, Ned Davis, Donald Trump, payrolls, Harris, Goldman Sachs, Goldman Organizations: Federal Reserve, Treasury, Fed, 3Fourteen Research, Trump, Ned, Ned Davis Research, Dow, Leuthold, quicken, Wall Locations: U.S, China, Wells

☆ A strong labor market report could prompt a Fed pause, says Wharton's Jeremy Siegel
▼ + stars: | 2024-10-25 | 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 EmailA strong labor market report could prompt a Fed pause, says Wharton's Jeremy SiegelJeremy Siegel, Wharton School finance professor, joins 'Closing Bell' to discuss markets, the Fed's next moves and the economic outlook.

Persons: Wharton's Jeremy Siegel Jeremy Siegel Organizations: Wharton School

Israel is also heavily backed by the United States, which has supplied more than 29,000 guided bombs, artillery rockets and assorted missiles since 2009. A spiraling conflict between Iran and Israel, one of the United States’ closest allies, could pull U.S. forces positioned throughout the region into the fray. Israel has told the United States that it will not attack Iran’s nuclear or oil facilities in its expected attack. Though highly unlikely, an Israeli strike on Iran’s oil facilities could prompt Iran or its proxies to target refineries in Saudi Arabia or the U.A.E. This April, Iran’s attack involving more than 300 drones and missiles, in retaliation for Israel’s killing of seven Iranian officials in Syria, shattered that supposition.

Persons: Arash Khamooshi, Abbas Araghchi, Biden, emboldening Israel, Chang W, Lee, Yahya Sinwar, Israel Organizations: Iranian Revolutionary Guard, The New York Times, International Institute for Strategic Studies, United, Senior Pentagon, The Defense Department, Area Defense, Defense, New York Times, United Arab, United Nations Locations: Israel, Gaza, Yemen, Lebanon, Iran, United States, Tehran, U.S, Gulf States, Guam, Qatar, United Arab Emirates, Bahrain, Kuwait, Saudi Arabia, Hormuz, Persian, Palestine Square, Gaza . Credit, Syria

☆ SOEs and commodity plays are some of the selected opportunities we see in China: Portfolio Manager
▼ + stars: | 2024-10-25 | 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 EmailSOEs and commodity plays are some of the selected opportunities we see in China: Portfolio ManagerBrian Kersmanc from GQG Partners shares that he likes domestic-focused EM markets, such as Brazil and India and underweights China as it works its way through the economic downturn.

Persons: Brian Kersmanc Organizations: GQG Partners Locations: China, Brazil, India

☆ Watch CNBC’s full interview with Wharton's Jeremy Siegel, NB Private’s Shannon Saccocia and Edward Jones’ Mona Mahajan
▼ + stars: | 2024-10-25 | 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 EmailWatch CNBC’s full interview with Wharton's Jeremy Siegel, NB Private’s Shannon Saccocia and Edward Jones’ Mona MahajanWharton's Jeremy Siegel, NB Private’s Shannon Saccocia and Edward Jones’ Mona Mahajan, join 'Closing Bell' to discuss markets, the Fed's next moves and the economic outlook.

Persons: Wharton's Jeremy Siegel, Shannon Saccocia, Edward Jones ’ Mona Mahajan, Jeremy Siegel

☆ History shows Nasdaq bull market could return more than 10% next year, barring a shock
▼ + stars: | 2024-10-25 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

The Nasdaq Composite index finally made a new all-time high on Friday, its first since July. But history shows there may be more than 10% upside ahead as stocks enter the third year of a bull market, according to DataTrek statistics. DataTrek co-founders Nicholas Colas and Jessica Rabe said they "remain bullish" on U.S. large-cap tech stocks because the average third year of a bull market has brought an increase of just 4.4% for the tech-heavy Nasdaq, the firm's data shows. The data, too, shows that another positive year for Nasdaq is no sure-fire bet. A two-year bull market after a losing year, the pattern we are currently in since the 2022 debacle, has continued into a third year just 60% of the time since 1971.

Persons: DataTrek, Nicholas Colas, Jessica Rabe, What's Organizations: Nasdaq Locations: U.S, East, Europe

In a complaint Sept. 18, the U.S. claimed civil damages totaling $103,078,056 under the Rivers and Harbors Act, the Oil Pollution Act and general maritime law, according to the release. There are still dozens of outstanding civil claims, including one from the state of Maryland, seeking damages from the owners of the Dali. According to the Justice Department, Thursday's settlement does not include damages to rebuild the bridge because Maryland built, owned, maintained and operated it. The Dali smashed into the Key Bridge early March 26 after it left the Port of Baltimore en route to Sri Lanka. The ship lost power, regained power, then lost power again before it hit the bridge, causing it to collapse into the Fort McHenry Channel.

Persons: Francis Scott Key, DALI, Brian M, Boynton, Dali Organizations: U.S . Justice Department, Ocean Private Ltd, Synergy Marine Private Ltd, U.S, Justice Department, U.S . Treasury, Harbors, Justice Department's Civil, Port, Fort McHenry Channel Locations: Maryland, Dali, Singapore, U.S, Rivers, States, Baltimore, Sri Lanka, Port of Baltimore, DALI

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