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☆ Why oil prices have plunged 3% today
▼ + stars: | 2024-09-26 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Saudi Arabia is committed to boosting oil output in December, the FT reported. The kingdom is resigning itself to a period a lower prices, sources told the FT.Oil markets spiraled on the news, falling as much as 4% on Thursday. AdvertisementA report that Saudi Arabia would ditch its unofficial crude price target sent crude oil prices sharply lower on Thursday. In essence, the kingdom is giving in to lower prices, FT sources said. The eastern-based faction has committed to reopening the country's oil fields in response, a move that could bring more crude output back online.

Persons: —, Brent Organizations: FT ., Service, Financial Times, West Texas Intermediate, Saudi, Bloomberg Locations: Saudi Arabia, Riyadh, Iraq, Kazakhstan, China, Libya

Political organizations supporting Vice President Kamala Harris and former President Donald Trump are touting both campaigns' messages of “freedom” as they woo Latinas, a key voting bloc. Against Hillary Clinton in 2016, Trump won just 28% of Hispanic women voters compared to Clinton’s 67%, according to Pew. Also, at least 13 states saw increases in Latina voter registrations when Biden left the race and endorsed Harris, according to TargetSmart CEO Tom Bonier. Republican Mercedes Schlapp, one of the “Latinas for Freedom” organizers, said the issue of abortion is one for states to decide. The group is defining freedom for Latinas as freedom from economic policies they say are "socialist."

Persons: Kamala Harris, Donald Trump, Latinas, Harris, they’ve, Hillary Clinton, Trump, Joe Biden’s, Pew, Stephanie Valencia, Equis, Biden, Tom Bonier, Mercedes Schlapp, Walz, It’s, ”, Ingrid Pino Duran, —, Nydia Velázquez, Kamala, Zoom, Wade, Duran, “, ” Harris, Schlapp Organizations: Pew Research Center, Congressional Hispanic Caucus Institute, Trump, GOP, Conservative, Pew, Equis Research, Democratic, News, Latinas, Freedom, NBC, Associated Press, PODER PAC, Rep, Republicans, Latino Entrepreneurship, Stanford, Conservative Political, Conference, Trump White House Locations: Latina, Texas, Florida, it’s

☆ China central bank releases slate of support measures amid a deepening economic slump
▼ + stars: | 2024-09-24 | by ( Evelyn Cheng | Evelyn Cheng Is A Senior Correspondent With Cnbc. | ) www.nbcnews.com time to read: +6 min

Lynn Song, chief economist for greater China ING, called the repo rate cut announcement “the most important” move made during the news conference. “If we see a large fiscal policy push as well, momentum could recover heading into the fourth quarter.”The headquarters of the People’s Bank of China in Beijing. During his first news conference as central bank governor in January, Pan said the PBOC would cut the reserve requirement ratio. Unlike the Fed’s focus on a main interest rate, the PBOC uses a variety of rates to manage monetary policy. Pan has indicated he would like the 7-day rate to become the main policy rate.

Persons: Pan Gongsheng, Pan, Lynn Song, ”, “, Jiang Qiming, ” Edmund Goh, Goldman Sachs, Li Yunze, Li, Nomura Organizations: People’s Bank of China Gov, China ING, “, U.S . Federal Reserve, People’s Bank of China, China News Service, Getty, Pan, National Financial Regulatory Administration Locations: BEIJING, China, Beijing, abrdn

☆ The Social Security curveballs making retirement even more confusing
▼ + stars: | 2024-09-24 | by ( Noah Sheidlower | Juliana Kaplan | ) www.businessinsider.com time to read: +10 min

The measures reduce Social Security benefits accrued during private-sector work to compensate for the state or local government pension benefits. The Social Security Administration reported the average monthly check as of July 2024 is about $1,783. Meanwhile, nearly half of WEP-affected Social Security beneficiaries had pensions above $3,000 a month in 2023. In her 20s, McLeod worked various part-time and lower-paying clerical roles, all of which paid into Social Security. "They said you get a good enough retirement from the state, so you'll be OK not getting all your Social Security."

Persons: —, Patrice Earnest, Earnest, Jane Roth, Roth, She's, she'd, it's, Karen Smith, Janis Hernandez, Critics, they've, we're, Louisiana Sen, Bill Cassidy, Republican who's, Anne McLeod, McLeod Organizations: Service, Social, Business, —, Social Security, GPO, Security, Workers, Urban Institute, Social Security Administration, Center, National Task Force, Force, Republican, Budget Locations: New Haven, Louisiana, New Orleans

☆ Retail stocks typically beat the market after Fed cuts rates. Telsey gives top ways to play
▼ + stars: | 2024-09-23 | by ( Pia Singh | In | ) www.cnbc.com time to read: +3 min

Fed rates not only set short-term borrowing costs for banks, but they also help determine mortgage, auto loan and credit card rates. According to the firm, shares of a few major discount retailers should outperform if middle-income consumers see higher levels of disposable income. Shares of Home Depot and Lowe's are up roughly 12.9% and 17.2% this year, respectively, as the prospect of lower interest rates boosts consumer sentiment. Tech products seller Best Buy could also get a boost from improved middle-income consumer sentiment, Telsey forecasts. If the rate-cutting cycle boosts sentiment among higher-end consumers, Telsey expects consumer retail names such as Williams-Sonoma and German sandal company Birkenstock to outperform.

Persons: Dana Telsey, Telsey Organizations: Federal Reserve, Fed, Walmart, Dollar, Holdings, Tech, Williams, LSEG Locations: U.S, Sonoma, German

☆ Rate cuts might make it cheaper to buy a house, but they won't fix the US housing market's biggest problem
▼ + stars: | 2024-09-21 | by ( Filip De Mott | ) www.businessinsider.com time to read: +5 min

The Fed's interest rate cut will ease financing conditions for homebuilders, analysts told BI. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementThe Federal Reserve's rate cut will surely impact the housing market, but its effect likely won't affect arguably the most important part of the equation: keeping affordability tight. But how this translates into a much-needed supply boost is a different story, and there are factors the Fed cut won't fix. Lingering uncertaintiesAdvertisementFor instance, Nanayakkara-Skillington noted that material pricing, from drywall to steel mill products, has weighed heavily on homebuilders since the pandemic.

Persons: —, it'll, NAHB's, Skillington, NAHB, Michael Neal, Fitch, Neal Organizations: Service, National Association of Home Builders, Urban Institute senior, Fitch

☆ Buffalo Bills fans can buy bonds to finance the team's new stadium
▼ + stars: | 2024-09-20 | by ( Jake Piazza | In | ) www.cnbc.com time to read: +2 min

Josh Allen, #17 of the Buffalo Bills, warms up prior to an NFL game against the Miami Dolphins at Hard Rock Stadium in Miami Gardens, Florida, on Sept. 12, 2024. It won't be an ordinary "Monday Night Football" gameday for Buffalo Bills fans next week. Erie County, where Buffalo sits, is selling the bonds to help fund half the $250 million it agreed to put up for the new stadium. The new stadium will be owned by the Erie County Stadium Corporation and the Bills will pay rent. The Buffalo Bills are 2-0 this season and take on the winless Jaguars on Monday night.

Persons: Josh Allen, Kevin Hardwick, Hardwick Organizations: Buffalo Bills, NFL, Miami Dolphins, Jacksonville Jaguars, Bills, Retail, Investments, CNBC's Official NFL, National Football League, Kansas City Chiefs, Erie, Stadium Corporation Locations: Miami Gardens , Florida, Orchard Park, Buffalo, Erie County, New York, Erie

☆ Battleground stocks: Wall Street is completely divided on these controversial names
▼ + stars: | 2024-09-19 | by ( Brian Evans | ) www.cnbc.com time to read: +4 min

Forty-one percent of analysts polled by FactSet have a buy rating on Tesla stock, while 21% have a sell rating. About 43% of analysts surveyed by FactSet maintain a buy rating on IBM stock, but 21% are at a sell. He also noted that the risk-to-reward skew on IBM stock is more balanced, leaving less upside for the stock. IBM YTD mountain IBM stock. Goldman Sachs recently added IBM to its conviction list with a $220 price target, or 2% above where shares closed Wednesday.

Persons: Tesla, TSLA, Wolfe Research's Emmanuel Rosner, Rosner, Morgan Stanley, Adam Jonas, Jonas, Elon Musk, Bernstein's Toni Sacconaghi, Sacconaghi, Goldman Sachs, Jim Schneider, Campbell Soup Organizations: CNBC Pro, FactSet, U.S, automakers, IBM, Pepperidge

☆ Here are Thursday's biggest analyst calls: Nvidia, Tesla, Apple, Nio, DoorDash, Robinhood, Alphabet, Micron & more
▼ + stars: | 2024-09-19 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Morgan Stanley reiterates Apple as overweight The firm said iPhone 16 demand may not be as bad as feared after comments from the T-Mobile CEO. Morgan Stanley reiterates Nio as overweight Morgan Stanley said it's bullish on the EV company as Nio unveils its latest mid-sized family model, the L60. " Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's concerned about the company's robotaxi event but that it's standing by the stock. Morgan Stanley downgrades Elanco to equal weight from overweight Morgan Stanley said it "lacks conviction" in shares of the pet biopharma company. "We are initiating on Coursera (COUR) with a Buy rating and a PO of $11 (44% upside potential).

Persons: Morgan Stanley, Apple, TMUS, Piper Sandler, Robinhood, Piper, KeyBanc, Redburn, Mizuho, Raymond James, Nio, it's bullish, TD Cowen, Cowen, Tesla, it's, Hertz, Wells, Morgan Stanley downgrades Elanco, rideshare Organizations: Mobile, Apple Intelligence, JPMorgan, Gas Sciences, Kodiak Gas Services, Talos Energy, Northern Oil, Nio, Micron, Barclays, UW, Laboratories, Abbott Laboratories, Outfront Media, " Bank of America Locations: Kodiak

☆ A new housing plan wants to give middle-class Americans the kind of support typically reserved for low-income households
▼ + stars: | 2024-09-19 | by ( Eliza Relman | Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

The HOMES Act would establish a new federal housing development authority charged with building and rehabilitating more than a million permanently affordable homes. This so-called "social housing" is notably different from traditional public housing, which is entirely reserved for the poorest households. Rent for all tenants in social housing would be capped at 25% of their income. "There is another way: social housing," Ocasio-Cortez and Smith said in their op-ed. And in California, lawmakers introduced a bill to construct mixed-income social housing on government-owned land.

Persons: —, Alexandria Ocasio, Sen, Tina Smith, Cortez, Gianpaolo Baiocchi, Smith, Baiocchi, Emily Gallagher's, Kamala Harris, she's, Donald Trump, Smith —, Harris, Walz Organizations: Service, New, New York Democrat, Minnesota Democrat, Senate, Business, Urban Democracy Lab, New York Times, New York Locations: Alexandria, Cortez, New York, Minnesota, New, California, Vienna

7:03 a.m.: Bernstein cuts price target on Nike amid innovation critiques Bernstein sees slightly less room for Nike to rebound. — Alex Harring 6:25 a.m.: Jefferies recommends buying NextEra Energy Partners despite buyout concern Jefferies came out of the gates optimistic on NextEra Energy Partners . Analyst Julien Dumoulin-Smith initiated coverage of the Florida-based renewable energy stock at a buy rating. — Alex Harring 5:54 a.m.: AI helps HubSpot compete, BofA says Bank of America is keeping an eye of HubSpot's artificial intelligence work. — Alex Harring 5:46 a.m.: JPMorgan says to sell Five Below JPMorgan turned bearish on Five Below , citing challenges that are hard to surmount for the value-focused retailer during a tough year.

Persons: Piper Sandler, Bernstein, Aneesha Sherman, Sherman, Alex Harring, BTIG, it's, Jake Fuller, Fuller, DoorDash, — Alex Harring, Jefferies, Julien Dumoulin, Smith, Hertz, Dan Levy, Levy, Avis, HubSpot, BofA, BofA's Brad Sills, Sills, monetization, Matthew Boss, Boss, Abbott, Adam Maeder, necrotizing, ABT, Maeder, Fred Imbert Organizations: CNBC, Laboratories, JPMorgan, Nike, Dow Jones, Jefferies, NextEra Energy Partners, Barclays, Hertz, Bank of America, LSEG, Abbott Laboratories Locations: Wednesday's, Florida, Thursday's premarket

☆ Home sales slumped to lowest August level since 2010. But they’re poised to soar after the Fed finally cut interest rates
▼ + stars: | 2024-09-19 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Washington CNN —Sales of previously owned homes in the United States fell sharply in August, despite mortgage rates plummeting that month. Lower borrowing costs will likely entice buyersMortgage rates could very well come down even more, but that would depend on economic data making it clear that the Fed would cut rates further. The Fed doesn’t control mortgage rates, but its action do influence them through movements in bond yields. Mortgage rates track the 10-year US Treasury yield, which moves in anticipation of the Fed’s decision on rates. Yun told reporters it could take three or four months for lower mortgage rates to boost demand for housing.

Persons: ” Yun, ”, Daniele Hale, “, we’re, Freddie Mac, Yun, ‘ I’m Organizations: Washington CNN —, Federal Reserve, National Association of Realtors, Fed, Treasury Locations: United States

☆ Partners Group: Royalties financing will develop phenomenally in the next 5-10 years
▼ + stars: | 2024-09-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPartners Group: Royalties financing will develop phenomenally in the next 5-10 yearsSteffen Meister, Partner and Executive Chairman of Partners Group, shares his expectations for growth in the private credit markets.

Persons: Steffen Meister Organizations: Email Partners, Partners

☆ The Federal Reserve just cut interest rates by a half point. Here's what that means for your wallet
▼ + stars: | 2024-09-18 | by ( Jessica Dickler | ) www.cnbc.com time to read: +4 min

"Interest rates took the elevator going up, but they'll be taking the stairs coming down," he said. That makes paying down high-cost credit card debt a top priority since "interest rates won't fall fast enough to bail you out of a tight situation," McBride said. "Many Americans have been holding off on making vehicle purchases in the hopes that prices and interest rates would come down, or that incentives would make a return," Caldwell said. Student loansFederal student loan rates are also fixed, so most borrowers won't be immediately affected by a rate cut. Eventually, borrowers with existing variable-rate private student loans may be able to refinance into a less expensive fixed-rate loan, he said.

Persons: Spencer Platt, APRs, McBride, they'll, Jacob Channel, Jessica Caldwell, Edmunds, Caldwell, Mark Kantrowitz Organizations: Getty, Treasury, Auto, Fed Locations: New York City, Edmunds

☆ Tupperware files for bankruptcy, citing ‘challenging’ economic environment
▼ + stars: | 2024-09-18 | by ( Ramishah Maruf | Olesya Dmitracova | ) edition.cnn.com time to read: +2 min

New York/London CNN —Tupperware Brands Corporation, whose food containers have been a mainstay in American kitchens, has filed for bankruptcy. “Over the last several years, the company’s financial position has been severely impacted by the challenging macroeconomic environment,” Laurie Ann Goldman, Tupperware president and CEO, said in a statement late Tuesday. Tupperware has historically only sold to consumers through so-called direct sales, most commonly at “Tupperware parties,” similar to cosmetic company Avon’s business model, and only began selling in Target in 2022. Many businesses file for bankruptcy protection to wind down some operations, shed debt and cut costs. A common route, also chosen by Tupperware, is Chapter 11 bankruptcy, which allows the company to solve its financial problems by restructuring.

Persons: ” Laurie Ann Goldman, ” Tupperware, Tupperware Organizations: London CNN — Tupperware Brands Corporation, “, Tupperware, Target Locations: New York, London, South Carolina

☆ America is ready to go big on AI infrastructure
▼ + stars: | 2024-09-18 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Its backers have committed to driving the "significant infrastructure investment" needed to make AI more powerful. Critically, the firms behind the fund said these infrastructure investments "will be chiefly in the United States," where it plans to fuel AI innovation and economic growth. It will also fund the energy infrastructure needed to power them. AdvertisementData centers, chip manufacturing plants, and energy supply are all vital for making AI tick. AdvertisementThe headline result was the launch of a new task force on AI data center infrastructure, designed to underscore the vital importance of building out the infrastructure needed to maintain momentum in the generative AI race.

Persons: —, MGX, Brad Smith, Lindsey Wasson, TSMC, Justin Sullivan, Getty, CBRE, Nvidia's Jensen Huang, Sam Altman, Gina Raimondo Organizations: Service, Microsoft, BlackRock, Business, Global Infrastructure Partners, REUTERS, US, Nvidia, Congress, Financial Times, Big Tech Locations: Taiwan, China, United States, Abu Dhabi, Chicago, Northern Virginia, Washington

☆ The Federal Reserve just cut interest rates by 50 basis points—here's what will get cheaper
▼ + stars: | 2024-09-18 | by ( Mike Winters | ) www.cnbc.com time to read: +1 min

With inflation easing, the Federal Reserve announced a 50 basis point cut to its benchmark interest rate on Wednesday — the first reduction in borrowing costs since March 2020. While the current inflation rate of 2.5% is still below the Fed's 2% target, the central bank is confident that price growth is on a sustained downward path. Since high borrowing costs discourage business investment, it can lead to decreased hiring. "The upside risks to inflation have diminished," Federal Reserve Chair Jerome Powell said in a speech on Aug. 23. How much cheaper borrowing costs could be

Persons: Jerome Powell Organizations: Federal Reserve, Fed

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

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

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

☆ The Fed’s rate cuts could have unintended consequences for the housing market
▼ + stars: | 2024-09-18 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

The market had become all but impenetrable after mortgage rates went from historic lows in 2020 to their highest levels in a generation last year. “And I think if we even go down to 5.9%, that would be really psychologically impactful to the housing market. The current 6.2% mortgage rate average is, of course, preferable to last year’s peak of 7.8% — a difference that could translate to hundreds of dollars in monthly payments. As my colleague Samantha Delouya wrote this week, a drop in mortgage rates could be a double-edged sword. “A further drop in mortgage rates could bring a surge of demand that makes it tougher to actually buy a house.”

Persons: ” Daniel Alpert, Alpert, “, ” Daryl Fairweather, Samantha Delouya, ”, Greg McBride Organizations: New, New York CNN, Federal Reserve, Westwood Capital, Fed, Bankrate Locations: New York

But a series of data points showing worsening economic conditions has made some analysts believe a 0.5% cut is more likely — and perhaps even necessary. “We do not seek or welcome further cooling in labor market conditions,” Fed Chair Jay Powell said in a speech last month. “A (0.5%) cut is usually done in emergencies,” like the Covid-19 pandemic, said Mark Zandi, chief economist at Moody’s financial group. Mortgage interest rates have hit their lowest level since February 2023, while auto loan rates are also falling. A 0.5% cut would more directly affect rates tied to the fed funds rate, including credit cards, home equity lines of credit and small-business loans.

Persons: Steve Liesman, Jay Powell, Bill Dudley, ” Dudley, Preston Mui, Mui, ”, “, Mark Zandi, Greg McBride, ” McBride Organizations: Federal, CNBC, Wall, Minneapolis Federal Reserve, Federal Reserve Bank of New, Bloomberg News, Fed, Bankrate Locations: Minneapolis, Federal Reserve Bank of New York, America

☆ A push toward sustainable jet fuel is leaving investors with unanswered questions
▼ + stars: | 2024-09-17 | by ( Jenni Reid | ) www.cnbc.com time to read: +8 min

Bloomberg | Bloomberg | Getty ImagesThe aviation industry still sees so-called "sustainable aviation fuel" (SAF) as the only viable way to meet its decarbonization targets, even as opposition and the potential for higher costs for passengers pose obstacles to the fast-growing sector. SAF is a broad term describing fuel that is burned by an aircraft engine, but instead of using kerosene is derived from more sustainable sources. The planemaker said it is collaborating with producer HIF Global on the development of methane-based fuels, and investing in alcohol-to-jet fuel producer LanzaJet. But IATA's own forecast for SAF production to triple in 2024 to 1.9 billion liters would cover just 0.53% of aviation fuel demand for the year. "The truth is, it's going to be more expensive, you can't really sugarcoat that," said HIF Global's Clara Bowman.

Persons: Neste, HIF, Buzz, Lauren Riley, Riley, Rick Nagel, You've, Clara Bowman, Bowman, United's Lauren Riley, HIF Global's Clara Bowman Organizations: SAF, Bloomberg, Getty, United Airlines, Chicago O'Hare International, Labour, Airbus, Farnborough Air, CNBC, International Air Transport Association, Acorn Capital Management, Porsche, HIF, Union's Renewable Energy Directive, Biden, Boeing, Google, Embraer Locations: Singapore, Chile, Texas, U.S, America

☆ Elon Musk has made a nasty mess for X, but it may not matter all that much to him
▼ + stars: | 2024-09-17 | by ( Madeline Berg | ) www.businessinsider.com time to read: +6 min

X owner Elon Musk, who has endorsed Trump, replied, "And no one is even trying to assassinate Biden/Kamala." Related stories"I don't think this is much more than just confirmation that X is not a place for brands. This year, advertisers slashed their X marketing budgets ahead of major events like the Super Bowl. Musk is still the richest person in the world, with a net worth of about $250 billion, per Bloomberg. AdvertisementSo X may suffer, but Musk will probably come out alright.

Persons: —, Donald Trump, Elon Musk, Trump, Biden, Kamala, Tucker Carlson, Brian Morrissey, Digiday, Brendan Gahan, Musk, Musk's, Gahan, bode, Morrissey, he's, haven't, outrageousness, Eric Dezenhall Organizations: Service, Business, LinkedIn, Authority, Disney, Apple, Walmart, Cannes, Street Journal, Twitter, Bloomberg, Dezenhall Resources Locations: South Africa

☆ Microsoft, BlackRock form group to raise $100 billion to invest in AI data centers and power
▼ + stars: | 2024-09-17 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Microsoft CEO Satya Nadella speaks during the company's Build developer conference in Seattle on May 21, 2024. Microsoft and BlackRock are part of a group of companies collaborating to pull together up to $100 billion to develop data centers for artificial intelligence and the energy infrastructure to power them. The group aims to assemble $30 billion of initial capital, with a future goal of bringing in up to $100 billion, including from debt financing. Microsoft said in July that fiscal fourth-quarter capital spending, including assets acquired under finance leases, totaled $19 billion. In January, BlackRock announced its intent to acquire GIP for $3 billion in cash and around 12 million shares of BlackRock common stock.

Persons: Satya Nadella, chatbot, MGX, Abu Dhabi's Mubadala Organizations: Microsoft, BlackRock, Artificial Intelligence Infrastructure Investment Partnership, Global Infrastructure Partners, United, Tech, Nvidia Locations: Seattle, United Arab Emirates, BlackRock

☆ Harris pledges to 'earn the vote' of Black men, as Trump makes gains
▼ + stars: | 2024-09-17 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

Vice President Kamala Harris on Tuesday laid out how her economic proposals could specifically help young Black men, a key Democratic voting bloc that polls show Republican former President Donald Trump gaining ground with in this election cycle. "I think it's very important to not operate from the assumption that Black men are in anybody's pocket," Harris said in a sit-down interview with a panel from the National Association of Black Journalists. A new poll by the civil rights group NAACP released Friday found that more than a quarter of Black men under 50 years old support Trump over Harris. At NABJ, she described embarking on an "economic opportunity tour focused on Black men" earlier this year, before she was a candidate for president. Proposals like these could help Harris address two distinct vulnerabilities for the Democratic party in this election cycle: public perceptions of the economy, and young Black men who lean toward voting for Trump.

Persons: Kamala Harris, Donald Trump, Harris, they've, — Organizations: Democratic, U.S, National Association of Black Journalists, Republican, NAACP, Trump Locations: Philadelphia , Pennsylvania, U.S, NABJ, Black

☆ The biggest threat to the US dollar is America's exorbitant debt load, JPMorgan says
▼ + stars: | 2024-09-17 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

One of the main takeaways was that the biggest threats to dollar dominance are swelling US debt levels and fiscal deficits, which officials in Washington could step up to tackle. "The biggest challenge to US dollar dominance is the US itself given the mounting public debt levels and elevated fiscal deficits," JPMorgan said, in a note summarizing the webinar. For instance, many alarmists have focused on the dollar's share in foreign reserve holdings, often pointing out that the foreign central banks have piled into gold as an alternative. But this fixation omits the fact that bank deposits, sovereign wealth fund assets, and other dollar instruments have been on the rise among reserve holdings, JPMorgan said. "In China's case, it has had an explicit target to bring down dollar holdings in FX reserve but has shifted USD holdings to state-owned entities.

Persons: —, Peter G, Mark Sobel —, Trump, Sobel Organizations: JPMorgan, Service, US, Peterson Foundation, Treasury, Monetary, Financial, greenback Locations: Washington, China

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