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☆ BlackRock brought in more money last quarter than ever before. Here's where the $11.5 trillion asset manager hopes to become the industry leader next.
▼ + stars: | 2024-10-11 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +4 min

The world's largest asset manager, though, is focused on growing its private markets business. Now, the $11.5 trillion behemoth wants to put high-fee private market strategies in your portfolio. "This is a meaningful accelerant to our private markets capabilities," he said. Comparatively, retail allocation to the private markets is in the "low-single digits," according to Small, giving BlackRock another territory to expand into. "We've never shied away from taking big bets," Fink said, and private market strategies are the latest roll of the dice.

Persons: BlackRock, —, Martin Small, We're, Larry Fink, Fink, " Fink, We've Organizations: Service, BlackRock, Global Infrastructure Partners

☆ CNBC Daily Open: CPI’s higher than expected. Is it just a “janky” data point?
▼ + stars: | 2024-10-11 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

SeongJoon Cho | Bloomberg | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. "I am totally comfortable with skipping [rate cuts for] a meeting if the data suggests that's appropriate," Bostic told The Wall Street Journal in an interview Thursday. The data suggests so. "This choppiness to me is along the lines of maybe we should take a pause in November," said Bostic, a voting member of the Federal Open Market Committee.

Persons: SeongJoon Cho, Raphael Bostic, Bostic, Joseph Brusuelas, Jeff Cox, Samantha Subin, Hakyung Kim Organizations: AMD, Bloomberg, Getty, CNBC, Atlanta Federal Reserve, Wall Street, Federal, Market, RSM Locations: Pike, Seattle , Washington, US

☆ Gold drifts higher after data supports U.S. rate-cut bets
▼ + stars: | 2024-10-11 | by ( ) www.cnbc.com time to read: +2 min

Gold prices climbed on Friday after recent data supported bets for a Federal Reserve interest rate cut next month, while market participants awaited the U.S. Producer Price Index report for further direction. Spot gold rose 0.5% to $2,641.70 per ounce by 0245 GMT but was down about 0.4% for the week. Data on Thursday showed that U.S. consumer prices rose slightly more than expected in September, while jobless claims increased to 258,000 in the week ended Oct. 5, versus estimates of 230,000. "Gold is seeing short-term gains as recent data has been positive. If the PPI data comes in softer, gold's momentum could continue upward," said Kelvin Wong, OANDA's senior market analyst for Asia Pacific.

Persons: Price, Kelvin Wong, OANDA's, CME's Organizations: Federal, PPI, Asia Locations: Tokyo, Japan, CME's FedWatch, Beirut

☆ CNBC Daily Open: Is higher-than-expected CPI just a 'janky' data point?
▼ + stars: | 2024-10-11 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Justin Sullivan | Getty Images News | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. "I am totally comfortable with skipping [rate cuts for] a meeting if the data suggests that's appropriate," Bostic told The Wall Street Journal in an interview Thursday. The data suggests so. But Bostic acknowledged it's important to see whether individual data points cohere into a larger pattern, or if they're just "janky," as Bostic put it.

Persons: Justin Sullivan, Raphael Bostic, Bostic, Joseph Brusuelas, Jeff Cox, Samantha Subin, Hakyung Kim Organizations: Getty, CNBC, Atlanta Federal Reserve, Wall Street, Federal, Market, RSM Locations: San Rafael , California

☆ Suki just raised $70 million for its healthcare AI assistant to beat out rival Abridge. See the 17-slide pitch deck it used.
▼ + stars: | 2024-10-10 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +4 min

Suki just raised $70 million in Series D funding led by Hedosophia for its medical AI assistant. It's competing with hot startups like Abridge as VCs scramble to place their bets in healthcare AI. The startup just landed a $70 million Series D round led by Hedosophia, a secretive UK-based VC firm led by Ian Osborne. Suki's biggest competitor is healthcare AI startup Abridge, which raised a $150 million Series C at a $850 million valuation in February and is backed by big names like Lightspeed Venture Partners and CVS Health Ventures. Here's the pitch deck Suki used to raise $70 million from Hedosophia.

Persons: Suki, Hedosophia, —, Punit Singh Soni, It's, Ian Osborne, transcribes, Kleiner Perkins, Abridge, Soni, EHR, he's Organizations: Service, Flare, Breyer Capital, InHealth Ventures, Fund, Suki's, Lightspeed Venture Partners, CVS Health Ventures, Veterans Health Administration Locations: Abridge, Hedosophia

☆ Dollar hovers near two-month peak as Fed easing bets ebb before inflation data
▼ + stars: | 2024-10-10 | by ( ) www.cnbc.com time to read: +3 min

The U.S. dollar traded near a two-month peak against major peers on Thursday as markets grew more confident about a patient approach from the Federal Reserve to further monetary easing, even as a key inflation report loomed later in the day. The U.S. dollar traded near a two-month peak against major peers on Thursday as markets grew more confident about a patient approach from the Federal Reserve to further monetary easing, even as a key inflation report loomed later in the day. The euro languished near its lowest since Aug. 13, while against the yen, the dollar hovered close to its strongest level since Aug. 15. The dollar index was little changed at 102.86 as of 0024 GMT, sticking close to Wednesday's high of 102.93. The greenback eased 0.18% to 149.035 yen , but was not far from the overnight peak of 146.365.

Persons: Kyle Rodda, —, Rodda, Mary Daly Organizations: U.S ., Federal Reserve, Reuters, U.S, CPI, Francisco Fed, Traders, New Locations: U.S

It was sold to Ramada in 1979 and, despite ownership changes, was operated as a budget-friendly resort until it closed. Now, as Las Vegas visitors demand more high-end experiences, the city is competing less directly with longtime gambling hubs such as Atlantic City, New Jersey, or Laughlin, Nevada, some 90 miles south of Sin City, Belarmino said. Prof. Nicholas Irwin, University of Nevada, Las VegasThe bargains may not be as close at hand as they once were. Alicia Muscs works at a travel agency in Las Vegas, where she moved from California this year. Unemployment in Las Vegas hit 6.7% in July, according to federal data, up from 5.7% the same month the year before and ahead of both the statewide rate (6.3% in July) and the national one (4.1% as of September).

Persons: Belarmino, Nicholas Irwin, ”, Belarmino’s, Alicia Muscs, Allie Leepson, Jesse McClary, Irwin Organizations: Tropicana, Ramada, University of Nevada, UNLV, Real Estate, Las Vegas, NBC Locations: Vegas, Atlantic City , New Jersey, Laughlin , Nevada, Sin City, Francisco and New York, Las, “, Clark County, New York, Las Vegas, California, Nevada, U.S

☆ Trump versus Harris: What the November election means for defense stocks
▼ + stars: | 2024-10-09 | by ( Brian Evans | ) www.cnbc.com time to read: +9 min

No matter who voters choose, whether it is former President Donald Trump or Vice President Kamala Harris , Liwag doesn't expect a meaningful shake-up in the outlook for defense stocks. Still, the analyst notes that even cases where an administration cuts defense spending, stocks can still carve out gains. During the Obama administration, the defense budget fell 3.3%, but defense stocks gained 2.1%. The defense stocks Morgan Stanley covers have outperformed the S & P 500 since Russia's invasion of Ukraine, Liwag said. "Historically, the conventional wisdom has been that Republicans are positive for defense spending and defense stocks, while Democrats are negative," Harned said.

Persons: Bernstein, Douglas Harned, Lockheed Martin, Morgan Stanley, Kristine Liwag, Donald Trump, Kamala Harris, Liwag, Bernstein's Harned, Harned, Harris, Wolfe Research's, Tobin Marcus, Marcus, Ronald Epstein, Epstein, Trump, Northrop, Obama, Northrop Grumman, Morgan Stanley's, Michael Ciarmoli, Truist, Leonardo Organizations: P Aerospace, Defense, Industry, L3Harris Technologies, Lockheed, CNBC, " Bank of America, Democratic, Senate, Republican, U.S . House, Trump White House, Republican Senate, Trump, Abrams, Space Force, Northrop Grumman, General Dynamics, Hamas, Dynamics, Northrop, Gulfstream, Leonardo DRS, Moog, Republicans Locations: Ukraine, U.S, Russia, Crimea, Iran, Israel

☆ Warren Buffett's S&P 500 bet paid off. Experts weigh in on whether it's still a winning strategy
▼ + stars: | 2024-10-09 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

True to its name, the S&P 500 index includes 500 large U.S. companies. They are the SPDR S&P 500 ETF Trust , which trades under the ticker SPY; iShares Core S&P 500 ETF , with ticker IVV; and Vanguard S&P 500 ETF , which trades as VOO. Future index performance could be 'muted'The S&P 500 index has continued to make headlines for new all-time highs in 2024. Goldman Sachs just raised its S&P 500 index forecast for 2024 to 6,000 up from 5,600 to reflect expected earnings growth. S&P 500 'hard to beat in the long run'Investing in the S&P 500 index is a popular strategy.

Persons: Warren Buffett, Berkshire, Morningstar, VOO, Larry Adam, Raymond James, Adam, Goldman Sachs, Tom Lee, Bryan Armour, Armour, Sean Williams, Williams Organizations: Berkshire Hathaway, Cnbc, Nbcuniversal, Trust, Vanguard, U.S, ETF, Fundstrat Global Advisors, CNBC, Morningstar, Cadence Wealth Partners Locations: St . Petersburg , Florida, U.S, Concord , North Carolina

☆ Where are Gen Z's tech founders?
▼ + stars: | 2024-10-09 | by ( Amanda Hoover | ) www.businessinsider.com time to read: +10 min

So where are Gen Z's tech founders? Gen Z founders and would-be founders are stepping into a vastly different tech world from that of their predecessors — a world where launching a unicorn is far more difficult, and publicly scrutinized, than it was for the garage-band generation of Jobs and Gates. Gen Z is coming of age in an era when the same Big Tech companies are diffuse and dominant. In other words, millennial founders ran so that Gen Z founders could walk. Perhaps we won't see Gen Z founders standing before a crowd and unveiling their latest shiny products anytime soon.

Persons: Bill Gates, Steve Jobs, Jeff Bezos, Gen X, Sergey Brin, Elon Musk, Travis Kalanick, Peter Thiel, Millennials, I'm, Zuckerberg, Whitney Wolfe Herd, Brian Chesky, Elizabeth Holmes, Sam Bankman, Gen, aren't, Zers, Jerry Neumann, millennials, Uber, Z, There's, Neumann, Kimberly Eddleston, they've, Adam Neumann, Holmes, Alexandra Debow, that's, Alexandr Wang, Wang, They've, Ibrahim Rashid, Rashid didn't, COVID, Rashid, Martin Shkreli, Forbes, Alexis Barreyat, Barreyat, Julian Kage, Kage, they'd, Debow, It's, Eddleston, Emma Chamberlain's Organizations: Boomers, Columbia University, Big Tech, Northeastern University, Facebook, New York University, MIT, Wired, Forbes, University of Chicago, Deloitte, Harvard, Harvard Business Locations: swaggering, Silicon Valley

☆ A new HBO documentary suggests bitcoin's creator is Canadian programmer Peter Todd
▼ + stars: | 2024-10-09 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +4 min

A new HBO documentary says that Canadian programmer Peter Todd is the creator of bitcoin. It points to several things to back the claim, but Todd denies he is the token's creator. The true identity of Satoshi Nakamoto, who wrote the bitcoin white paper, has been hotly debated. AdvertisementA new HBO documentary suggests the identity of bitcoin's inventor is a Canadian programmer named Peter Todd. "Money Electric: The Bitcoin Mystery," which premiered on HBO on Tuesday, names Todd as bitcoin's pseudonymous creator, Satoshi Nakamoto.

Persons: Peter Todd, Todd, Satoshi Nakamoto, —, Len Sassaman, Nick Szabo, Adam Back, Cullen Hoback, Nakamoto, Nakamoto's, Hoback, I'm Satoshi, I'm Craig Wright, Satoshi, bettors Organizations: HBO, Service, Nakamoto, New York Times, Polymarket Locations: Canadian

☆ Kalshi expands Trump, Harris election bet options, adds Senate races, CFTC complains
▼ + stars: | 2024-10-09 | by ( Dan Mangan | ) www.cnbc.com time to read: +5 min

Kalshi wagers on the presidential race outcomes were split 50-50, roughly reflecting national polling on the contest. The new contracts were added to Kalshi's platform within days of a favorable federal appeals court ruling for the company on Oct 2. Even more political races could soon become available for betting with Kalshi contracts, the CFTC said, citing contract terms published on the exchange's web site. But the commission argues that Kalshi's contracts might cast doubt on the integrity of elections. The appeals court initially blocked that judge's ruling from taking effect, which meant Kalshi could not offer any political contracts.

Persons: Kamala Harris, Donald Trump, Kalshi, KalshiEx, It's, there's, Tarek Mansour, Mansour, Patricia Millett Organizations: White, Electoral, Commodity Futures Trading Commission, U.S ., Appeals, District of Columbia Circuit, CNBC Locations: Washington ,

☆ Recession fears are fading. Now it’s time for America’s companies to back that up
▼ + stars: | 2024-10-09 | by ( Krystal Hur | ) edition.cnn.com time to read: +4 min

New York CNN —Hopes for avoiding a recession are growing on Wall Street. Now, investors are looking to the upcoming earnings season for clues about the US economy’s health. The earnings season begins in earnest Friday with quarterly updates from big banks including JPMorgan Chase, Wells Fargo and BlackRock. Wall Street will also parse the September Consumer Price Index report and wholesale inflation figures due later this week. Wall Street will also eye developments from the tech companies whose mammoth stock returns have helped power this year’s bull market.

Persons: Motors, “, ”, Sarah Henry, Wells, Mark Malek, Siebert, Dave Sekera Organizations: New, New York CNN, Economic, PepsiCo, Conagra Brands, Logan Capital, JPMorgan Chase, Federal Reserve, Tech, “, FactSet, Apple, Nvidia, Communication, Morningstar Locations: New York, Wells Fargo, BlackRock

Pittsburgh CNN —In the years that Pennsylvania Senate candidate Dave McCormick led one of the world’s largest hedge funds, the firm bet millions of dollars against some of the state’s biggest and most iconic companies, financial filings show. For financial institutions, short positions can be lucrative. The fund shorted about four dozen companies from Pennsylvania during McCormick’s tenure, the records show. The fund did invest in stocks of some of the same Pennsylvania companies it shorted in other years, and overall, it reported spending more money buying stocks of Pennsylvania companies than shorting them in four of the five annual reports reviewed by CNN. She argued that the short positions Bridgewater took in Pennsylvania companies didn’t negatively impact employees because they represented a small fraction of each company’s overall value.

Persons: Dave McCormick, McCormick, “, ”, Kevin Boltz, Democratic Sen, Bob Casey –, Casey, Luke Sharrett, Elizabeth Gregory, Dave, ” Gregory, Bridgewater, ” McCormick wasn’t, Andrew Jennings, Dan Mallinson, “ They’re, ” Mallinson, “ That’s, ” Eric Talley, Talley, I’m, Justin Merriman, McCormick’s, Biden, Bernie Hall, ” Hall, Gregory, Michael M, Eric Hovde of, Tim Sheehy, Bernie Moreno, dogging McCormick, Mallinson Organizations: Pittsburgh CNN —, Bridgewater Associates, The Hershey Company, US Steel, CNN, US Department of Labor, Republican, Hershey, Democratic, Bridgewater, Bloomberg, Getty, McCormick’s, Bridgewater Equity Fund, Labor, Securities and Exchange Commission, Comcast, Penn National Gaming, Emory University School of Law, Penn State, Columbia University, Steel, Japan's, Nippon Steel, Keystone, Nippon, Pennsylvania, United Steelworkers, Senate, Penn Locations: Pennsylvania, Bridgewater, Harrisburg, Pittsburgh, China, Eric Hovde of Wisconsin, Montana, Ohio

☆ Dollar holds on to 7-week highs as traders consider U.S. rates outlook
▼ + stars: | 2024-10-08 | by ( ) www.cnbc.com time to read: +3 min

The dollar clung to seven-week highs against major currencies on Tuesday as investors ponder the outlook for U.S. rates after a strong jobs report last week dashed bets for large rate cuts, while escalating tensions in Middle East dented risk sentiment. Traders have drastically shifted their monetary easing expectations from the Federal Reserve this year. That has kept the dollar on the front foot and surging to a multi-week high against the euro, sterling and the yen. The New Zealand dollar was 0.3% higher at $0.6144 ahead of the monetary policy decision on Wednesday. A majority of economists in a Reuters poll last week said the Reserve Bank of New Zealand will cut interest rate by 50 basis points.

Persons: Kieran Williams, Louis, Alberto Musalem, Shigeru Ishiba Organizations: Federal Reserve, Asia FX, InTouch, Reserve Bank of St, Treasury, Bank of, New Zealand, Reserve Bank of New Locations: Middle East, Asia, China, Bank of Japan, Reserve Bank of New Zealand

☆ Meme coins tied to the identity of bitcoin's inventor have rallied ahead of a new documentary that could reveal their identity
▼ + stars: | 2024-10-08 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +4 min

The jump in bitcoin creator-themed tokens comes ahead of a new HBO documentary about bitcoin. Crypto watchers believe the film will reveal the true name of bitcoin's pseudonymous creator, Satoshi Nakamoto. Coins like LEN, SASHA, and ODIN reference Len Sassaman, an American programmer long suspected of being bitcoin's creator. SZABO, meanwhile, a coin referencing computer scientist Nick Szabo, is up 377%. AdvertisementIn recent days, participants have increasingly bet in favor of Nick Szabo, a computer scientist who published research on bitcoin's precursor "bit gold."

Persons: Satoshi Nakamoto, —, LEN, SASHA, ODIN, Len Sassaman, SASHA —, SZABO, Nick Szabo, ADAM, Adam Back, Nakamoto, Satoshi Nakamotor, Sassaman, Meredith Patterson, Cullen, Szabo Organizations: HBO, Service, CoinMarketCap Locations: American, bettors

☆ Traders are betting Hurricane Milton will knock out electricity and leave power plants idling
▼ + stars: | 2024-10-08 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Energy traders are betting that Hurricane Milton will spark power outages in Florida. US natural gas futures have fallen 8% in the last three days. Front-month US natural gas futures have dropped 8% over the last three days, from $2.97 to $2.74 per million British thermal units as of Tuesday morning. The price drop comes as the Southeast prepares for Hurricane Milton, which is expected to hit Florida by Wednesday evening. Energy traders have leaned more bullish on natural gas in recent weeks before the latest bout of extreme weather.

Persons: Hurricane Milton, —, Helene Organizations: Hurricane, Traders, Service, Energy, Southeast, Florida, Gas, New York Mercantile, Intercontinental Exchanges, Reuters Locations: Florida

☆ Wall Street giants like Goldman quickly up their bets on Chinese markets amid stimulus promises
▼ + stars: | 2024-10-08 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Goldman Sachs is the latest in a flurry of calls to upgrade China stocks after the Asian giant's recent wave of stimulus measures. Goldman predicts that Chinese stocks could even jump a further 15% to 20%, given the powerful comeback rally that has already occurred. It says the MSCI China index could have another 15% upside, and the CSI 300 index could enjoy a further 18% upside. In a Monday note, Citi also increased its price target for Chinese stocks. Following that, Wall Street started getting bullish on those stocks again, with Morgan Stanley predicting Chinese stocks are set to rally 10% and more.

Persons: Goldman Sachs, Goldman, Morgan Stanley, —, Vishnu Varathan Organizations: CSI, Citi, Wall, BlackRock Investment Institute, Mizuho Securities Locations: China, China's

☆ Earnings season kicks off after a blowout jobs report upended investors' hopes of another interest-rate cut
▼ + stars: | 2024-10-07 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

Tech: Amazon's Prime Day kicks off tomorrow, and there are some deals on surprising items . Amazon's Prime Day kicks off tomorrow, and there are some deals on . Getty Images; Jenny Chang-RodriguezWe've already got one indication companies are in good shape: Friday's blockbuster jobs report . But another blowout report — 250,000 jobs added and at least 4% wage growth — could lead the Fed to reconsider its easing policy. In addition to the usual Prime Day gadgets, like TVs and Airpods, Amazon is dishing out deals on tents, pocket knives, and chainsaws.

Persons: —, Jenny Chang, Rodriguez, Matthew Fox, we'll, Rodriguez We've, there's, Philipp Carlsson, Chelsea Jia Feng, haven't, Donald Trump's, Tyler Le, John Tomac, that's, boomers, They're, Gen Xers, Gen Zers, Kamala Harris, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Grace Lett, Amanda Yen, Milan Sehmbi Organizations: Business, Service, . Tech, Amazon's, Pfizer, Wall Street, JPMorgan, Wells Fargo, Big Tech, Getty, Fed, Boston Consulting, Trump Media, Microsoft, BI, pharma, CBS, ASEAN Locations: Israel, fintech, Vientiane, Laos, New York, London, Chicago

☆ Why a key borrowing rate is above 4% again
▼ + stars: | 2024-10-07 | by ( Krystal Hur | ) edition.cnn.com time to read: +1 min

New York CNN —A key borrowing rate for American consumers has jumped to a level not seen in months. The yield on the benchmark 10-year US Treasury note breached 4% on Monday for the first time since August. The 10-year yield closed at 3.98% on Friday, up from 3.85% on Thursday. The 10-year yield tracks the rate on everything from mortgages to student loans to car loans, leaving consumers looking to borrow for big-ticket purchases with elevated costs. Investors will parse the Consumer Price Index report for September and wholesale inflation figures.

Persons: ”, Karl Schamotta Organizations: New, New York CNN, Treasury, Federal Reserve, Solutions, Fed Locations: New York

☆ One of Walmart's big bets is paying off in its retail battle against Amazon, analysts say
▼ + stars: | 2024-10-07 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Walmart's logistics business is pressuring Amazon's own, according to Wells Fargo analysts. But Amazon "is no longer the only scaled marketplace in North America," Wells Fargo analysts led by Ken Gawrelski wrote in a research note on Monday. They pointed to Walmart's announcement in August, for instance, that third-party sellers would be able to use Walmart's fulfillment network for orders placed outside of Walmart's website. The analysts cited the pressure from Walmart's fulfillment business as just one of the challenges facing Amazon's income. Amazon's stock slid more than 3% on Monday to about $180.50 after the Wells Fargo analysts published their note.

Persons: Amazon's, Wells, Wells Fargo, —, Ken Gawrelski, Gawrelski Organizations: Walmart, Service, Amazon, Wells, Amazon Web Services Locations: North America, Walmart's

Driverless cars are speeding onto America's streets, but whether the public will trust robotaxis remains an open question. Nearly two-thirds of Americans said they would not want to ride in a driverless passenger vehicle if they had the opportunity, according to a Pew Research Center Survey. Tesla's upcoming robotaxi launch threatens to throw the whole autonomous vehicle space off course. Alphabet -owned Waymo is the leader in the space, with the company claiming it has notched more than 22 million driverless miles. Uber has hedged its bets by inking high-profile deals with autonomous vehicle companies, but it's unclear how long those partnerships will last.

Persons: robotaxis, Tesla, Elon Musk, Waymo, Cruise Organizations: Pew Research Center Survey, GM Locations: San Francisco , Los Angeles, Phoenix

☆ What a hot job market means for inflation
▼ + stars: | 2024-10-06 | by ( Krystal Hur | ) edition.cnn.com time to read: +3 min

New York CNN —The US job market is still piping hot. That comes after the Federal Reserve last month cut interest rates by a jumbo half-point, signaling that it is turning its attention from tamping down inflation to keeping the job market steady. But some warn that a still-strong labor market could make it more difficult for inflation to continue cooling. That’s because a low unemployment rate and hot job market underline a strong American consumer, whose spending helps drive up the cost of goods and services. Consumer inflation eased to its slowest annual pace since February 2021 in August, continuing a trend of cooling down in recent months.

Persons: FactSet, ”, Seema Shah, “, Gina Bolvin Organizations: New, New York CNN, Bureau of Labor Statistics, Federal Reserve, Investors, “, Fed, Asset Management, Labor Statistics, Bolvin Wealth Management Group, International Longshoremen’s Association, United States Maritime Alliance Locations: New York, July’s, Israel, Iran, Russia, Ukraine

☆ One month to Election Day. Here’s what to watch
▼ + stars: | 2024-10-05 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +10 min

The (Donald) Trump campaign, on the other hand, is looking to the Sun Belt. Instead of knocking on doors in key states, Trump’s allies are using funding from tech billionaire Elon Musk to do some nontraditional things. But some things are still going to be much more expensive on Election Day than they were when Trump was president. It’s one month to Election Day, but that’s a little bit of a misnomer. No matter what happens with the 2024 election, Trump is unlikely to accept the results if Harris wins.

Persons: CNN — It’s, it’s, CNN’s David Wright, Kamala, Harris, – they’ve, Donald, Trump, he’s, Trump’s, Steve Contorno, Fredreka, Elon Musk, Barack Obama, Obama, He’ll, Liz Cheney, George W, Bush, Dick Cheney, Cheney, Amy Walter, ”, Cook, … they’re, ” Walter, Hurricane Helene, Helene, Will, Will Trump’s, Jack Smith’s, Tanya Chutkan, Smith, Read Organizations: CNN, Democratic, Republican, Trump Republicans, Trump, Former Republican, Voters, North, East, Progressives, Democratic National Convention, Israel, Democrats Locations: Pennsylvania, Michigan, Wisconsin, North Carolina, Georgia, East Coast, Hurricane, Gaza, Israel, Lebanon, Iran, New York

☆ There are 3 signs that generative AI might be reaching peak market froth — and it's not just OpenAI
▼ + stars: | 2024-10-05 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +8 min

There are signs across AI models, chips, and new form factors that the market is getting frothy. Investors spent the summer wondering if top AI stocks could continue to justify soaring valuations in the face of absent returns from their massive AI spending. Now, signs have emerged that they're not yet done with generative AI mania. OpenAI reaches dizzying new heightsSam Altman's OpenAI secured a $157 billion valuation after raising $6.6 billion in its latest funding round. In short, a lossmaking startup must justify its $157 billion valuation.

Persons: Cerebras, —, Andrew Feldman, Ramsey Cardy Cerebras, here's, Abu, Cerebras —, Altman's OpenAI, OpenAI, Elon Musk's xAI, OpenAI's, Ilya Sutskever, Gary Marcus, OpenAI's Sam Altman, David Sacks, Darius Rafieyan, Mira Murati, Mark Zuckerberg, Andrej Sokolow, frothiness, Jensen Huang, Alex Heath, Rahul Prasad, Snapchat Organizations: Nvidia, Service, Investors, Microsoft, Saudi Aramco, Bloomberg, OpenAI, LLMs, Financial Times, Anthropic, Craft Ventures, Tiger Global, The New York Times, Getty, company's Connect, Meta, Orion Locations: Sunnyvale, Abu Dhabi, Silver, Saudi, Silicon Valley, —

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