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Oil rigs are seen at Vaca Muerta shale oil and gas drilling, in the Patagonian province of Neuquen, Argentina January 21, 2019. REUTERS/Agustin Marcarian/File Photo Acquire Licensing RightsOct 11 (Reuters) - Oil edged higher on Wednesday as investors grappled with the prospect of supply disruptions due to the Middle East turmoil. Brent crude rose 26 cents, or 0.3%, to $87.91 a barrel by 0312 GMT. U.S. West Texas Intermediate (WTI) crude rose 17 cents, or 0.2%, to $86.14 a barrel. Israel produces very little crude oil, but markets are worried that the conflict could escalate and hurt Middle East supply, worsening an expected deficit for the rest of the year.
Persons: Agustin Marcarian, Brent, WTI, Warren Patterson, Ewa Manthey, Washington, Laura Sanicola, Muyu Xu, Leslie Adler Organizations: REUTERS, . West Texas, ING, Israel, U.S, U.S . Federal, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Brent, Gaza, Israel, Iran, Saudi Arabia, U.S ., U.S, Venezuela, Caracas
Traders work on the floor of the New York Stock Exchange during morning trading on January 04, 2023 in New York City. U.S. stock futures ticked up Wednesday night as investors looked toward new consumer inflation data for greater insight on the economy. Futures tied to the Dow Jones Industrial Average added 38 points, or 0.1%. S&P 500 futures and Nasdaq 100 futures inched up about 0.2% each. "[August's] CPI print was a bit stronger than we anticipated, though the downward trend in core inflation persisted.
Persons: Dow Jones, Andrew Patterson, Raphael Bostic, Susan Collins Organizations: New York Stock Exchange, Futures, Dow Jones, Nasdaq, Dow, Investors, Federal Reserve, Vanguard, Traders, Atlanta Fed, Boston Fed, Delta Air Lines, Walgreens Boots Alliance Locations: New York City . U.S, Israel
Goldman Sachs reiterates Netflix as neutral Goldman said it's standing by its neutral rating heading into earnings next week. Barclays reiterates Disney as equal weight Barclays said it's cautious on Disney heading into earnings in early November. JPMorgan reiterates Apple as overweight JPMorgan said its Apple survey checks show product delivery times are moderating. Bank of America initiates Motorola Solutions as buy Bank of America said Motorola is "well-positioned with multiple tailwinds supporting growth." Bank of America downgrades Datadog to neutral from buy Bank of America said it's concerned about slowing demand for the software company.
Persons: Wells, JPMorgan, Domino's, Goldman Sachs, Goldman, it's, Baird, Tesla, TSLA, Jefferies, Redburn, Evercore, Lennox, Piper Sandler, Piper Organizations: Meta, JPMorgan, Arm Holdings, Bank of America, Netflix, Barclays, Disney, ESPN, Apple, Holdings, " Bank of America, Motorola Solutions, Motorola, American, Spotify, Oracle, Citi, Patterson, UTI Energy Locations: Datadog, SASE, CY26
JoeBen Bevirt is an evangelist for the new industry and the founder and CEO of Joby Aviation Inc., which delivered its first eVTOL to the Air Force last month. What will you learn from how the Air Force uses it? There will certainly be valuable learnings and the operational experience, the feedback from the Air Force pilots to the FAA flight-test pilots. Q. Joby announced in September that you’re going to build a $500 million production facility in Dayton, Ohio, with up to $325 million in state and local incentives. You’ve got Wright-Patterson Air Force Base, which is the home of the Air Force Research Laboratory and AFWERX (the Air Force’s technology-innovation program).
Persons: Bevirt, We’ve, Davis, that’s, we’ve, don’t, Joby, you’re, Wright, You’ve Organizations: Joby Aviation Inc, Air Force, Toyota, Associated Press, University of California, Joby Aviation, Federal Aviation Administration, FAA, NTSB, National Transportation Safety, Patterson Air Force Base, Air Force Research Laboratory, Boeing, Airbus Locations: Santa Cruz , California, California, Dayton , Ohio, Dayton, Ohio, Joby
CNN —Cycling has become more than a habit for “Granny Mave,” as Mavis Paterson is known. “If I didn’t have my bicycle, and this is terrible to say, I don’t think I would want to live,” she told CNN Sport. “It’s been hard for me, but I’ve managed and people say, ‘Oh, you’re strong,’ and I don’t know where the strength comes from,” she said. I don’t know. Mavis Paterson hugs her grandson, William, at the end of her over 1,000 mile ride round Scotland.
Persons: Granny Mave, Mavis Paterson, Sandy, Katie, Bob, , it’s, , , “ It’s, I’ve, , ” Paterson, Paterson, who’s, William, ” Patterson, John O’Groats, “ I’m, ” Mavis Paterson, Instagram Paterson, gosh, she’s Organizations: CNN, Cycling, CNN Sport, , British, Macmillan Cancer Locations: Scotland, Mull of Galloway, Scottish, Moffat, summitting, Canada, Saskatchewan, Britain, Moffat , Scotland
The US economy added an estimated 336,000 jobs last month, blowing expectations out of the water, according to Bureau of Labor Statistics data released Friday. In September, leisure and hospitality helped drive job growth higher, with 96,000 jobs added. Today’s headline jobs number — that surprising 336,000 net job gain — is an initial estimate that will be revised twice more. The surprising September jobs report, however, didn’t continue that streak. August’s second look has job growth now at 227,000 for the month, an increase of 40,000.
Persons: , Sung, Soh, Joe Biden, , it’s, ” Biden, Andrew Patterson, ” Patterson, they’ve, Jim McCoy, we’re, ” Daniel Zhao, Glassdoor’s, ” Julia Pollak, didn’t, ” Diane Swonk, — CNN’s Tami Luhby Organizations: Minneapolis CNN, of Labor Statistics, Loyola Marymount University, SS Economics, BLS, Federal Reserve, Dow, Nasdaq, Bureau of Labor Statistics, Vanguard, Fed, Administration, Children, Families, Nationwide, Century, CNN Locations: Minneapolis, United States
Western Digital and Intel are up by double digits in 2023, but Goldman Sachs says these shares may see sharp declines. But even given this optimism, Goldman believes some stocks are bound to fall. In a recent note, the firm detailed several stocks that have the most downside potential based on Goldman's respective target prices. This summer, Western Digital issued weak guidance for its fiscal first quarter, calling for a loss ranging between $2.10 and $1.80 per share, excluding items. The firm sees a descent of more than 14% for the lodging stock, a sharp turn from its 49% year-to-date gain.
Persons: Goldman Sachs, David Kostin, Goldman, FactSet, Justin Patterson, Northrop, — CNBC's Michael Bloom Organizations: Western Digital, Intel, Chief, KeyBanc, Northrop Grumman, APA, Hormel Locations: Airbnb
It's time to step to the sidelines on shares of Airbnb as the Covid-19 pandemic recovery bump fades, according to KeyBanc Capital Markets. ABNB 1D mountain Airbnb "Our call is that leisure travel has experienced a material recovery from 2021-2023E, resulting in outsized margin expansion, " Patterson wrote in a Monday note. "As these tailwinds fade, we see elevated risk to [room nights and experiences] and [average daily rate] growth." Airbnb has outperformed this year as a resilient consumer shelled out money for travel and experiences. "We believe this could create an overhang on shares as ABNB transitions from a growth to GARP investor base," Patterson said.
Persons: Justin Patterson, Patterson, Airbnb, — CNBC's Michael Bloom Organizations: KeyBanc, Markets Locations: Airbnb, New York City
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Persons: Dow Jones, biden
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/politics/biden-oks-limited-offshore-drilling-relenting-on-campaign-promise-1d12b5c6
Persons: Dow Jones, biden
Minneapolis CNN —Higher gas prices heated up overall inflation last month, but the Federal Reserve got some welcome news: Its preferred inflation gauge cooled to its lowest level in two years. The core Personal Consumption Expenditures index, a closely watched inflation measure that excludes gas and food prices, rose 3.9% for the 12 months ended in August. However, it also was largely expected: Gas prices heated up last month as well. The Commerce Department’s monthly Personal Income and Outlays reports are typically closely watched as they provide a comprehensive account of pricing, income and spending data. Other federal data at risk for delays could include key housing and auto sales data, Census Bureau data, PCE and GDP reports, among others.
Persons: ” Andrew Patterson, ” Patterson, ” Dana Peterson, “ That’s, , that’s, Price, Security Administration’s, “ We’ve, ” Vanguard’s Patterson, Organizations: Minneapolis CNN —, Federal Reserve, Commerce Department, Vanguard, CNN, Energy, “ Energy, Consumers, Commerce, Conference Board, Labor, Department, Bureau of Labor Statistics, Price, Security, Adjustment, Labor Department Locations: Minneapolis, Saudi Arabia, Russia
The personal consumption expenditures price index increased 0.4% in August, slightly below estimates, while the yearly rise was 3.5%. But it was the core index that strips out food and energy prices coming in at 3.9%, its lowest reading since September of 2021, that is likely of most interest to the Fed. While goods prices have slowed considerably, costs in the services sector have proven harder to bring down, driven largely by housing prices. Looked at just over the past three months, the rate of core inflation has slowed markedly and is not far from the Fed’s 2% annual target. “PCE and core pce figures indicate continued inflation easing,” Kathy Jones, chief fixed income strategist at the Schwab Center for Financial Research, commented on X.
Persons: , , Carol Schleif, ” Kathy Jones, Andrew Patterson, Downside, ” Patterson Organizations: Federal Reserve, Labor Department, Fed, PCE, BMO Family Office, Schwab Center, Financial Research
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/us-news/climate-environment/u-s-races-to-fortify-power-grid-against-extreme-weather-7a162dfb
Persons: Dow Jones
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBlackRock's Rick Rieder: The Fed will start cutting rates in the second half of 2024Rick Rieder, BlackRock senior managing director, and Rebecca Patterson, Council for Economic Education board chair, join CNBC's Deliver Alpha 2023 to talk the current rate hiking cycle, the state of the markets, what's ahead for the Federal Reserve and more.
Persons: Rick Rieder, Rebecca Patterson Organizations: BlackRock, Economic Education, CNBC's, Federal Reserve
"You've got to take them at their word that they want to get another 25" basis points, said the asset management giant's CIO of global fixed income. BlackRock fixed income chief Rick Rieder thinks the Federal Reserve can stop raising interest rates, though it probably won't. The fed funds rate, used as a benchmark for many forms of short-term debt, currently is targeted in a range between 5.25%-5.50%. "I love commercial paper," Rieder said. Rieder said he expects the Fed to start cutting at some point, but probably not until the latter half of 2024.
Persons: You've, you've, Rieder, Rick Rieder, Rebecca Patterson, Ray Organizations: Alpha, BlackRock, Economic Education, Delivering Alpha, Council for Economic Education, Bridgewater Associates, AA, Fed Locations: BlackRock
“This race is quickly consolidating,” said GOP fundraiser Charles Moran, a Trump delegate in 2016 and 2020. California was home to the so-called Trump resistance during his time in office, and Trump often depicts California as representing all he sees wrong in America. That created a competitive environment where Democratic Rep. Nancy Pelosi ’s district in San Francisco awarded the same number of GOP delegates as a rural, conservative heartland district. The state party — strongly influenced by House Speaker Kevin McCarthy of Bakersfield, a Trump loyalist — “shifted everything to help Donald Trump,” Fleishman said. The California rules are expected to be challenged at a state party convention next week, though reversing course is seen as unlikely.
Persons: Donald Trump, Trump, , Charles Moran, , haven’t, General Xavier Becerra, George W, Bush, Democrat Al Gore, Nancy Pelosi ’, Jessica Millan Patterson, Jon Fleishman, Kevin McCarthy, ” Fleishman, Ron DeSantis, ” Ken Cuccinelli, Steve Frank, Richard Nixon, Ronald Reagan, George H.W, it's, John McCain, Barack Obama, Mitt Romney, Obama, Hillary Clinton Organizations: ANGELES, White, GOP, Trump, Republican, Republican White, , U.S, Trump National Golf Club Los Angeles, Democrat, California GOP, Democratic, Florida Gov, Homeland Security, California’s Republican Party Locations: U.S, California, Iowa, America, Los Angeles, San Francisco, Bakersfield, Michigan, Nevada, George H.W . Bush, Central, Orange County
Those advocates still face one giant hurdle: FDA regulators say the treatment hasn't been shown to work. But with the backing of thousands of ALS patients, Brainstorm took the rare step of “filing over protest,” essentially forcing the agency to render a decision. Still, ALS patients see reasons for optimism. At Wednesday’s meeting, people with such reservations are certain to be outnumbered by appeals from ALS patients and their families. That compromise would be similar to FDA's approach to Relyvrio last year, another ALS drug with questionable data.
Persons: Lou Gehrig’s, drugmaker, they’re, , Marc Scheineson, Brian Wallach, Wallach, , Brainstorm’s, NurOwn, Patricia Manhardt, Anthony Windebank, reanalyzing, weren’t, Terry Heiman, Patterson, it’s, Holly Fernandez Lynch, Matthew Perrone Organizations: WASHINGTON, Drug Administration, FDA, drugmakers, Congress, Obama White House, ALS Association, Mayo Clinic, Physicians, Temple University, University of Pennsylvania, Twitter, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group, AP
CNN —The sole survivor of a poisoning involving suspected death cap mushrooms that killed three others in Australia has been released from hospital following a remarkable recovery that could now help police piece together what happened. Within days, Gail Patterson, 70, and her sister Heather Wilkinson, 66, died in hospital, followed by Gail’s 70-year-old husband, Don, a day later. Watkins clung on, critically ill and reportedly in need of a liver transplant but made enough of a recovery to leave Melbourne’s Austin hospital last Friday. In the same statement she claimed she bought the mushrooms used in the meal from two separate stores. As Ian continues his journey towards full recovery, the Wilkinson family kindly requests that their privacy be respected,” the statement said.
Persons: Ian Watkins, Erin Patterson, Gail Patterson, Heather Wilkinson, Gail’s, Don, Watkins, , Ian Wilkinson, Ian, Wilkinson, ” Patterson, Dean Thomas, Patterson, Patterson’s, Thomas, Simon, ” Thomas, Wilkinson –, , Organizations: CNN, Victoria Police, ABC, Korumburra Baptist Locations: Australia, Leongatha, Melbourne’s Austin
An aerial view shows oil tanks of Transneft oil pipeline operator at the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia June 13, 2022. REUTERS/Tatiana Meel/File Photo Acquire Licensing RightsSept 21 (Reuters) - Oil prices fell in early Asian trade on Thursday, after posting the largest fall in a month in the previous session, as U.S. interest rate hike expectations offset the impact of drawdowns in U.S. crude stockpiles. U.S. West Texas Intermediate crude (WTI) fell 70 cents, or 0.78%, to $88.96, the lowest since Sept. 14. The hawkish stance also led to the U.S. dollar surging to its highest since early March, placing downside pressure on oil prices. "This tightness, along with strong refinery margins (largely a result of tightness in middle distillates) suggests that oil prices are likely to see further strength in the short term," he said.
Persons: Tatiana Meel, Brent, refiners, Warren Patterson, Laura Sanicola, Trixie Yap, Sonali Paul Organizations: . West Texas, ING, U.S . Federal Reserve, Open Market, U.S, Energy, U.S . Energy Information Administration, American Petroleum Institute, ANZ, Cushing, Organization of, Petroleum, Thomson Locations: Nakhodka, Russia, Saudi Arabia
An aerial view shows oil tanks of Transneft oil pipeline operator at the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia June 13, 2022. REUTERS/Tatiana Meel/File Photo Acquire Licensing RightsSept 21 (Reuters) - Oil prices fell in early Asian trade on Thursday, after posting the largest fall in a month in the previous session, as U.S. interest rate hike expectations offset the impact of drawdowns in U.S. crude stockpiles. U.S. West Texas Intermediate crude (WTI) fell 71 cents, or 0.79%, to $88.95, the lowest since Sept. 14. The hawkish stance also led to the U.S. dollar surging to its highest since early March, placing downside pressure on oil prices. "This tightness, along with strong refinery margins (largely a result of tightness in middle distillates) suggests that oil prices are likely to see further strength in the short term," he said.
Persons: Tatiana Meel, Brent, refiners, Warren Patterson, Laura Sanicola, Sonali Paul Organizations: . West Texas, ING, U.S . Federal Reserve, Open Market, U.S, Energy, U.S . Energy Information Administration, American Petroleum Institute, ANZ, Cushing, Organization of, Petroleum, Thomson Locations: Nakhodka, Russia, Saudi Arabia
The Federal Reserve, as expected, left interest rates unchanged on Wednesday while raising forecasts for economic growth and lowering them for unemployment next year. “Job gains have slowed in recent months but remain strong, and the unemployment rate has remained low. Inflation remains elevated.”The central bank updated its forecasts for economic growth, unemployment and inflation. The GDPNow estimate from the Federal Reserve Bank of Atlanta is now pegging economic growth in the third quarter at 4.9%. But it would likely curb economic growth at a time when the Fed’s policies have restricted credit and other government stimulus is waning.
Persons: , ” Powell, , Powell, Andrew Patterson, Ruslan Lienkha, Victor Li, Jeff MacDonald, Joe Biden, Donald Trump Organizations: Federal Reserve, Fed, , Villanova University, Federal Reserve Bank of, GOP Locations: Saudi Arabia, Russia, U.S, Federal Reserve Bank of Atlanta
New York CNN —A group of famous fiction writers joined the Authors Guild in filing a class action suit against OpenAI on Wednesday, alleging the company’s technology is illegally using their copyrighted work. Martin, Jodi Picoult, John Grisham and Jonathan Franzen are among the 17 prominent authors who joined the suit led by the Authors Guild, a professional organization that protects writers’ rights. “Generative AI threatens to decimate the author profession,” the Authors Guild wrote in a press release Wednesday. Two other authors sued OpenAI in June over the company’s alleged misuse of their works to train ChatGPT. Authors should have the right to decide when their works are used to ‘train’ AI,” author Jonathan Franzen said in the release on Wednesday.
Persons: OpenAI, George R.R, Martin, Jodi Picoult, John Grisham, Jonathan Franzen, Mary Rasenberger, , Sarah Silverman, Silverman –, ” Sam Altman, Rasenberger, James Patterson, Roxane Gay, Margaret Atwood —, Organizations: New, New York CNN, OpenAI, Authors, of, CNN, Amazon, Meta, San, Microsoft Locations: New York, Southern, of New York, San Francisco federal
NFL roundup: Chiefs get back on winning track against Jaguars
  + stars: | 2023-09-18 | by ( ) www.reuters.com   time to read: +10 min
Mahomes threw touchdown passes to Skyy Moore and Travis Kelce as the Chiefs (1-1) rebounded from a season-opening 21-20 loss to the Detroit Lions. Jones threw a 9-yard touchdown pass to Saquon Barkley and an 11-yard touchdown pass to Isaiah Hodgins, then drove New York 56 yards to Graham Gano's winning 34-yard field goal with 19 seconds remaining. In his third NFL start -- all Washington wins -- Howell completed 27 of 39 passes to fuel the Commanders' rally. Seahawks 37, Lions 31 (OT)Geno Smith connected with Tyler Lockett on a 6-yard touchdown pass in overtime to give visiting Seattle a victory over Detroit. Burrow aggravated his right calf injury on his second touchdown pass late in the fourth quarter.
Persons: Patrick Mahomes, Morgan Tencza, Mahomes, Skyy Moore, Travis Kelce, Kelce, Chris Jones, George Karlaftis, Jones, Trevor Lawrence, Christian Kirk, wideouts Zay Jones, Calvin Ridley, Daniel Jones, Saquon Barkley, Isaiah Hodgins, Graham Gano's, Joshua Dobbs, Kyler Murray, James Conner, Sam Howell, Brian Robinson, Howell, Robinson, Russell Wilson, Mary, Brandon Johnson, Benjamin St, Juste, Courtland Sutton, Wilson, Sean Payton, Geno Smith, Tyler Lockett, Smith, Lockett, Kenneth Walker, Riley Patterson, Jared Goff, Goff, Tre Brown, Gardner Minshew, Anthony Richardson, Richardson, Minshew, C.J, Stroud, Nico Collins, Tank Dell, Josh Allen, Allen, James Cook, Gabe Davis, Jimmy Garoppolo, Josh Jacobs, Davante Adams, Arthur Smith, Younghoe Koo, Bijan Robinson, Koo, Desmond Ridder, Drake London, Jordan Love, Jayden Reed, Ryan Tannehill, Nick Folk, Derrick Henry, Nick Westbrook, Cameron Dicker's, Justin Herbert, Keenan Allen, Austin Ekeler, Lamar Jackson, Joe Burrow, Burrow, Jackson, Nelson Agholor, Tee Higgins, Baker Mayfield, Mike Evans, Justin Fields, Fields, fumbling, Joe Tryon, Shoyinka, White, Dak Prescott, Brandon Aubrey, Prescott, Aaron Rodgers, Achilles, Zach Wilson, Garrett Wilson, Christian McCaffrey, San, Brock Purdy, Nacua, Matthew Stafford Organizations: Kansas City Chiefs, Jacksonville Jaguars, EverBank, Chiefs, Detroit Lions, Kansas, Jaguars, Giants, Cardinals, New York, Arizona, Broncos, Washington, NFL, Denver, Seahawks, Lions, Seattle, Detroit, Colts, Texans, Indianapolis, Houston, Bills, Raiders, Buffalo, Falcons, Packers, Atlanta, Green, Chargers, Tennessee, Los Angeles, The Chargers, Ravens, Bengals, Baltimore, Cincinnati, Buccaneers, Bears, Tampa Bay, Bucs, Tampa, Cowboys, Jets, Dallas, New, 49ers, Rams, Los, Thomson Locations: Jacksonville , Florida, USA, New York, Denver, Las, Orchard Park, N.Y, Green Bay, Green, Los, Nashville, Tenn, Tennessee, Tannehill, Ikhine, Cincinnati, Chicago, Tampa Bay, Arlington , Texas, San Francisco, Los Angeles, Inglewood , Calif
Importantly, the site is near Wright-Patterson Air Force Base and the headquarters of the U.S. Air Force Research Laboratories. With this announcement, that aspiration has been realized.”Political Cartoons View All 1163 ImagesThe Wright brothers, Orville and Wilbur, lived and worked in Dayton. Joby CEO JoeBen Bevirt told the AP that the company chose Ohio after an extensive and competitive search. 3 in the nation on manufacturing jobs — and that depth of manufacturing prowess, that workforce, is critical to us as we look to build this manufacturing facility. That included the loss of tens of thousands of auto and auto parts manufacturing jobs in the early 2000s and the loss of ATM maker NCR Corp.'s headquarters to an Atlanta suburb in 2009.
Persons: Wright, Mike DeWine, Jon Husted, ” Husted, Orville, Wilbur, Orville Wright's, Hawthorn Hill, Joby, JoeBen Bevirt, Bevirt, J.P, Nauseef, that’s, , ” Bevirt, DeWine —, John Glenn, Neil Armstrong Organizations: Joby Aviation Inc, ” Republican Gov, Associated Press, Intel, Dayton International, Republican, Gov, Patterson Air Force Base, U.S . Air Force Research Laboratories, , U.S, Hawthorn, Wright Model B, Toyota, Delta Airlines, Air Force, U.S . Department of Energy, AP, Boeing, Airbus, NCR Corp, U.S . Air Force’s, . Space Command, Space Force Locations: COLUMBUS , Ohio, Ohio, Wright, Dayton, Santa Cruz , California, “ Ohio, Atlanta, Springfield, Marina , California
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Persons: Dow Jones Locations: virginia
Total: 25