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Trivariate Research is laying out some U.S. companies that could win big in China's latest stimulus deal. Last week, China's central bank released a raft of support measures to help stimulate economic growth and boost a struggling real estate market in the second-largest economy in the world. "We see the China stimulus as an incremental positive to risk-taking," wrote Trivariate founder Adam Parker in a note to clients. Trivariate is not the only firm that views commodity stocks as potential beneficiaries, with Morgan Stanley recently naming Freeport in its shopping list for commodity stocks. Gaming stocks could also win big with China's stimulus deal.
Persons: Adam Parker, Parker, Trivariate, Morgan Stanley, Estée Lauder, MicroStrategy Organizations: Capri Holdings Locations: China, Freeport, Sands, Capri
The September harmonized CPI figure had been forecast to come in at 1.9% according to a Reuters poll. The German harmonized CPI figure was last under 2% — which is the European Central Bank's target rate for inflation — in February 2021, LSEG data indicated. For that, the still elevated core inflation rate would also need to ease notably. Within Europe, data published last week showed that the harmonized inflation rate in France and Spain fell below the 2% target in September. "The recent series of disappointing economic sentiment indicators and lower-than-expected inflation data have provided new strong arguments for ECB doves," he said.
Persons: Destatis, Sebastian Becker, Becker, Carsten Brzeski Organizations: European Union, Deutsche Bank Research, CNBC, European Central Bank, ING, ECB Locations: Berlin, Germany, European, Westphalia, Europe, France, Spain
AdvertisementThe large-cap real estate sector benefits from Wall Street's massive investment in data centers, a necessary infrastructure component of the artificial intelligence buildout. AdvertisementIn Subramanian's view, part of the appeal of value sectors is the high dividends they offer. As the Fed's cutting cycle pulls down short-term yields, money market investors will search for new sources of income. She previously noted that dividend yields are especially alluring in real estate. Since 2008, real estate dividends has doubled the proportion of high-quality market cap.
Persons: they're, Subramanian, , Savita Subramanian, BofA's, BofA, Scott Chronert Organizations: Bank of America, Service, CNBC, Bloomberg Locations: China, Beijing
South Dakota is not participatingSouth Dakota Gov. The $68.6 million of federal money that had been set aside for South Dakota rebates will be redistributed among participating states. Fury also noted this isn't the first time South Dakota has rejected federal spending. Bipartisan legislation to create an energy rebate program had existed almost a decade earlier, like the Home Star Energy Retrofit Act in 2010. Ron DeSantis in 2023 had vetoed the state's authority to spend about $5 million of federal funds to administer the energy rebate program.
Persons: I'm, Kara Saul, Rinaldi, Kristi Noem, Scott Olson, Ian Fury, Fury, Saul, Ron DeSantis, Robert Gauthier Organizations: New York, U.S . Department of Energy, AnnDyl, D.C, DOE, of Columbia, Energy, South Dakota Gov, Republican National Convention, Getty, Green, Gov, Republican, South Dakota Bureau of Finance, Management, Home Star Energy, Republican Gov, state's Department of Agriculture, Consumer Services, CNBC, Florida Gov, Los Angeles Times, Department of Agriculture Locations: Arizona, Maine, New Mexico, Rhode Island, Wisconsin, Washington, California , Colorado , Connecticut, Delaware, Florida, Georgia, Hawaii , Illinois , Indiana , Michigan, Minnesota , New Jersey , New Hampshire , Massachusetts, North Carolina , Oregon , Tennessee , Vermont, West Virginia, Dakota, South Dakota, Rinaldi . Florida
Hurricane Helene tore through North Carolina over the weekend, causing widespread devastation. Spruce Pine was hit with over 2 feet of rain between Tuesday and Saturday, The Associated Press said. The two firms play a huge role in the global supply chain that ultimately ends in smartphones and powering cutting-edge AI systems. "The quartz in Spruce Pine formed deep in the Earth without a lot of water carrying in other impurities," Yinan Wang, a geologist, said. That's because the Spruce Pine mines are singular in their scale, he said.
Persons: Helene, , Hurricane Helene, Ed Conway, we've, Yinan Wang, Conway, Seaver Wang, Wang Organizations: Service, Associated Press, Pine Police Department, ., Quartz Corp, Sky News, Breakthrough Institute Locations: North Carolina, Spruce, Spruce Pine, Western North Carolina, Mitchell County, Pine
The Fed's target inflation rate is 2%, so we're getting closer. In the week ahead, we get quarterly results from Club name Constellation Brands and the government's September employment report. Jobs, Jobs, Jobs This coming Friday's big update on the state of the labor market is the main market event and could have big implications for Wall Street and the path for Fed rate cuts. However, the market took the news in stride because recent weakness in the stock was already reflecting the sluggish sales environment. ET: September ADP Report Before the bell: Conagra (CAG) After the bell: Levi Strauss (LEVI) Thursday, Oct. 3 8:30 a.m.
Persons: Thursday's, Jerome Powell, we'll, We're, Levi Strauss, LEVI, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Dow Jones, Nasdaq, Treasury, Core PCE, GE Healthcare, Costco, Constellation Brands, Wall, ADP, Pacifico, McCormick &, PMI, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: Covid, Corona, New York City
AdvertisementAs a luxury cleaning service owner, here are five things people get wrong when cleaning. If you're washing sheets, blankets, or even towels, I highly recommend using the setting for each. However, the items inside may get a shorter wash cycle than is needed. Some clothes need a longer wash cycle — for example, your family's sports choices. Bathroom rugs need to be refreshed in the dryer or shaken outside, at minimum, weekly.
Persons: , I'm, who's, I've Organizations: Service
Medical bills are more negotiable than you think
  + stars: | 2024-09-28 | by ( Jacob Zinkula | ) www.businessinsider.com   time to read: +10 min
Some Americans have seen success when negotiating for a lower medical bills. AdvertisementHowever, healthcare experts told BI that trying to negotiate medical bills — while far from a guaranteed strategy — is worth a shot. "We don't normally think about medical bills as something that you can negotiate, but it seems that sometimes you can," Duffy said. How to negotiate a medical billBefore anyone tries to negotiate a medical bill, Kelmar said they should do everything they can to ensure it's accurate. Why some people don't negotiate their medical billsDuffy and Kelmar have a few theories about why some people don't bother trying to negotiate their medical bills.
Persons: , Erin Duffy, Duffy, they'd, didn't, It's, Patricia Kelmar, Kelmar, — Kelmar Organizations: Service, University of Southern, USC, Business, Healthcare Locations: University of Southern California
New York City Mayor Eric Adams is set to appear in court over bribery and wire fraud charges. AdvertisementAs New York City Mayor Eric Adams prepares for court, the number of Democrats calling for his resignation is growing. Meanwhile, at least four members of the New York City Council have encouraged Adams to step back, the outlet said. We deserve better, which is why Mayor Adams should step down," Sandy Nurse wrote on X. Hochul issued a statement on Thursday asking Adams to "find an appropriate path forward to ensure the people of New York City are being well-served by their leaders."
Persons: Eric Adams, Adams, , Katharine Parker, Alexandria Ocasio, Cortez, Brad Lander, Lander, John Avlon, Laura Gillen, Avlon, Sandy Nurse, Sen, John C, Liu, Kathy Hochul, Hochul Organizations: York City, Service, New York City, New York Times, New, Democratic Locations: York, Manhattan, Rep, Alexandria, New York City, Brad Lander , New York, New York, . New York
Key Fed inflation gauge at 2.2% in August, lower than expected
  + stars: | 2024-09-27 | by ( Jeff Cox | ) www.cnbc.com   time to read: +2 min
Economists surveyed by Dow Jones had been expecting all-items PCE to rise 0.1% on the month and 2.3% from a year ago. Excluding food and energy, core PCE rose 0.1% in August and was up 2.7% from a year ago, the 12-month number 0.1 percentage point higher than July. "All quiet on the inflation front," said Chris Larkin, managing director of trading and investing at E-Trade from Morgan Stanley. Personal income increased 0.2% on the month while spending rose 0.2%. At their meeting last week, policymakers indicated a likelihood of another half percentage point in cuts this year then a full point in reductions for 2025, though markets expect a more aggressive path.
Persons: Dow Jones, Chris Larkin, Morgan Stanley Organizations: Commerce Department, Fed, Stock Locations: U.S
Chipping away: Shares of Wells Fargo popped around 5% on signs of progress in its multiyear journey to clean up its operations and have its Federal Reserve-mandated asset cap removed. In addition, this news pushes back on the idea that Wells Fargo recently suffered a regulatory setback. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Wells, Wells Fargo, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Micron, Street, Department of Justice, AMD, Starbucks, Chipping, Reserve, Bloomberg News, Fed, Bloomberg, Currency, Club, Costco, Jim Cramer's Charitable Locations: China, Wells
Emerging Europe still feeling Ukraine war impact, says economist
  + stars: | 2024-09-26 | 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 EmailEmerging Europe still feeling Ukraine war impact, says economistBeata Javorcik, chief economist at the European Bank for Reconstruction and Development, says emerging countries are still feeling the impact of high borrowing costs and energy prices, despite progress on inflation.
Persons: Beata Javorcik Organizations: European Bank for Reconstruction Locations: Ukraine
According to a UBS survey of investors with at least $1 million of investible assets, 57% plan to vote for Harris and 43% plan to vote for Trump. Harris wins 91% of Democratic millionaires surveyed, 12% of Republicans and 60% of independents. Trump wins 88% of Republican millionaires, 9% of Democrats and 40% of independents. While they support Harris more broadly, the investors who were surveyed give Trump slightly higher marks on the economy and taxes. If Trump wins, they said defense and energy stocks look attractive, but if Harris wins, they said health care, sustainable investing and tech stocks look best, according to the survey.
Persons: Kamala Harris, Philip Chosky, Donald Trump, Harris, Trump . Harris, Trump Organizations: Democratic, Philip, Philip Chosky Theatre, UBS, Trump ., Trump, Social Security, Millionaire Locations: Pittsburgh , Pennsylvania
Incoming President Subianto has promised to continue the charge toward making Indonesia a high-income economy. Economic reforms passed through by the outgoing president will make the achieving Indonesia's grand vision easier. "Widodo put in place a bunch of economic reforms, the most noticeable being making it easier to hire and fire new workers. Indrawati hopes to avoid "the middle-income trap" — an economic development situation where growing economies stagnate at middle-income levels and are unable to advance to the ranks of high-income countries. Major policy reforms, she believes, will help Indonesia sidestep that.
Persons: Sri Mulyani Indrawati, CNBC's, Joko Widodo, Prabowo Subianto, Subianto, Widodo, Gareth Leather, Indrawati Organizations: Afp, Getty, country's Finance, International Monetary Fund, Defense, Capital Economics, CNBC, Lowy Institute Locations: Jakarta, Indonesia, Washington, Australian, China, Asia
PITTSBURGH — Kamala Harris vowed to govern as a pragmatist who wouldn’t be captive to ideology in an economic speech Wednesday while outlining $100 billion in new investments in manufacturing, a major issue in this battleground state. Pennsylvania voters react to Harris' speechEconomic concerns have been a liability for Democrats throughout the campaign cycle, as inflation rose in the post-pandemic global economy. And while domestic economic policies can have reverberating impacts, the supply chains that caused higher prices are, at least in part, beholden to global economic conditions. Voters who attended Harris' speech expressed confusion that other Americans see Trump as good for the economy. Denise Meyers, 74, a Harris supporter who attended the speech, cited Trump’s anti-union record to argue he’s bad for the middle class.
Persons: Kamala Harris, Harris, Josh Shapiro, , ” Harris, , Donald Trump, “ Donald Trump, Joe Biden, Biden, there's, Harris hasn't, Trump, Angela Garcia, Susan Bails, — Trump, George W, Bush —, Denise Meyers, ” Meyers, Meyers, offshoring Organizations: PITTSBURGH, NBC, Democratic Locations: America, United States, U.S, Pennsylvania, Pittsburgh, China
Federal Reserve Governor Michelle Bowman said Tuesday she thought her colleagues should have taken a more measured approach to last week’s half percentage point interest rate cut as she worries that inflation could reignite. In explaining her rationale, Bowman said the half percentage point, or 50 basis point, reduction posed a number of risks to the Fed’s twin goals of achieving low inflation and full employment. Though Bowman favored a reduction, she preferred the Fed lower by a quarter percentage point, more in line with the traditional moves at the central bank. In recent statements, Fed officials have cited easing inflation and a softening labor market as justification for the cut. At last week’s meeting, individual policymakers indicated they expect another half percentage point in cuts this year and another full point in 2025.
Persons: Michelle Bowman, Bowman, Organizations: Federal Locations: Kentucky
Federal Reserve Governor Michelle Bowman said Tuesday she thought her colleagues should have taken a more measured approach to last week's half percentage point interest rate cut as she worries that inflation could reignite. In explaining her rationale, Bowman said the half percentage point, or 50 basis point, reduction posed a number of risks to the Fed's twin goals of achieving low inflation and full employment. Though Bowman favored a reduction, she preferred the Fed lower by a quarter percentage point, more in line with the traditional moves at the central bank. In recent statements, Fed officials have cited easing inflation and a softening labor market as justification for the cut. At last week's meeting, individual policymakers indicated they expect another half percentage point in cuts this year and another full point in 2025.
Persons: Michelle Bowman, Bowman Organizations: Federal Locations: Kentucky
Investors bought into the interest rate cut. Equity inflows last week were the largest they had been in roughly two years, according to Jill Carey Hall, equity and quant strategist at Bank of America Securities. The Wall Street bank reported its clients snapped up $6.9 billion worth in stocks, the highest level going back to October 2022. XLU YTD mountain Utilities Utilities were the big winner here. On the other hand, investors dumped financials, real estate and energy stocks last week.
Persons: Jill Carey Organizations: Bank of America Securities, Traders, Federal, Dow Jones Industrial, Utilities Utilities, Bank of, Tech Locations: Bank
Read previewYou don't have to cut out carbs to balance your blood sugar for better health and energy, according to a top nutrition researcher. Choose high-fiber carbs like whole grains and berriesThe type of carbs you chose can also influence your blood sugar response. A recent ZOE study found that people had a more moderate response in blood sugar when they ate a meal for breakfast, but a larger blood sugar response to the same meal when they ate it later in the day. Take a short walk after mealsAnother way to manage your blood sugar is to get moving, since exercise helps use up stored energy and makes you more sensitive to insulin, the hormone that regulates blood sugar. Advertisement"If you have poor night's sleep, you have a higher blood sugar response compared to if you have a good night's sleep.
Persons: , It's, Sarah Berry, Berry, dietitians, dietitian Bonnie Taub, Dix Organizations: Service, King's College, Business Locations: London
So she and Maggie had focused their hopes on getting a private scholarship. She considered paying $700 for an online class, heavily promoted on Facebook, that promised to show parents how to find college scholarships. Every year, hundreds of thousands of students like Maggie devote countless hours to the hunt for private scholarships to pay for college. AdvertisementWith the combination of institutional aid and private scholarship she received, Maggie managed to cut her original college bill from $15,000 to $8,000. The illness is treatable, but it's likely to cost the family $5,000 out of pocket — effectively wiping out the financial value of the private scholarship Maggie received.
Persons: Maggie Beam, Siobhan, Maggie, Siobhan —, , Mark Kantrowitz, Kantrowitz, it's, Fastweb, Jeff Levy, you'd, Ed McMahon, Peter Thiel, Ron Lieber, Dawn Brady, Chris Reeves, Aisosa, Levy, Charlain Bailey, she'd, Maggie's Organizations: Winthrop University, Rotary, Facebook, Thiel Foundation, Silicon, Niche, Community Foundation, Lehigh University ., Education's, Winthrop, Schug Foundation, Equitable Foundation, Equitable Locations: Charlotte , North Carolina, Winthrop, Carolina, California, San Diego, Aisosa Ede, Osifo, Dallas, North Carolina
Read previewSouth Korean companies are investing billions of dollars in the US to take advantage of two big laws meant to boost American manufacturing. A Financial Times analysis of United Nations data found South Korean companies invested $21.5 billion in US projects in 2023, more than any other country. Related storiesAnd South Korean investments span multiple states, mainly in the South. In the past decade, South Korean companies have created about 7,000 jobs in Texas and nearly 8,000 jobs in Indiana. Those provisions have incentivized South Korean companies to divert from China and focus more on the US.
Persons: , Yeo, South, Biden, South Korea —, " Yeo, Joe Biden's Organizations: Service, United, Business, Samsung, LG, Hyundai, South, Peterson Institute for International Economics, EV, Financial, Kia, SK Hynix, Korea's Ministry of Trade, Industry, Energy, Wall Street, World Bank, Biden Locations: United Nations, South Korea, Taiwan, Southern, China, US, Georgia, South, Texas, Arizona, Indiana, Korea's
Oil edges up following U.S. rate cut move, geopolitical concerns
  + stars: | 2024-09-23 | by ( ) www.cnbc.com   time to read: +2 min
Oil prices gained slightly during early trade on Monday, boosted by concerns conflict in the Middle East may impact supply in the key producing region and expectations the U.S. interest rate cut last week will support demand. Both contracts rose in the previous session on support from the U.S. interest rate cut and a dip in U.S. supply in the aftermath of Hurricane Francine. Last Wednesday, the U.S. Federal Reserve cut interest rates by half a percentage point, a larger decrease in borrowing costs than many expected. Interest rate cuts typically boost economic activity and energy demand, but analysts and market participants are concerned the central bank may see a slowing job market. "Sentiment was buoyed by the Fed's rate cut amid hopes it can engineer a soft landing for the economy," said ANZ.
Persons: Hurricane Organizations: Brent, U.S . Federal Reserve, ANZ Locations: Houston , Texas, Israel, Iranian, Iran, Lebanon
Since 2019, Oberman, his wife, and their two cats have lived in five cities across four countries. This story is available exclusively to Business Insider subscribers. "With a creative background, I bring some flexibility to our travels," the 38-year-old told Business Insider via email, adding, "I have options to work no matter where we land." Over the past year, Business Insider has interviewed several people who have moved away from their home countries. The couple found a full-time day care option that charges roughly $400 a month for children less than one year old, according to a document provided to Business Insider.
Persons: , Chris Oberman, Oberman, he's, Netherlands Chris Oberman Organizations: Service, Business, South Locations: Netherlands, , Beijing, Shanghai, Erbil, Iraq, Seoul, South Korea, China
Read previewNew satellite images show extensive damage at an ammunition depot inside Russia after long-range Ukrainian drones struck the facility. AdvertisementThe aftermath of a Ukrainian attack on a Russian ammunition depot in Toropets. Just days after the Toropets attack, over the weekend, Ukraine said it struck two more ammunition depots inside Russia. AdvertisementThe attacks over the past week mark Ukraine's latest long-range strikes targeting key military and energy facilities inside Russia. Britain's defense ministry said Russia's air defenses "continue to struggle with Ukrainian deep strike operations," even though Moscow claimed to have shot down dozens of Ukrainian drones in the Toropets attack.
Persons: Organizations: Service, Business, Ministry of Defense, Security Service, Ukraine Locations: Russia, Toropets, Russia's, Tver, Ukraine, Russian, Ukrainian, Tikhoretsk, Krasnodar Krai, Kyiv, Moscow, Kursk
But many people are still wondering, what does a rate cut mean for my money? For those who’ve been waiting it out, the rate cut “will instill some hope in folks,” said Elizabeth Renter, senior economist at NerdWallet. Consider your (improved) debt repayment optionsThis week’s rate cut was good news for those struggling to unload themselves of credit card debt. They’re a popular savings instrument when interest rates are high, and as most economists expected, CD rates have already started declining since the Fed’s interest rate cut. “This rate cut is not something that should trigger you to go make any drastic changes to the overall direction of your portfolio,” he added.
Persons: Jerome Powell, , Elizabeth Renter, Michele Raneri, , “ It’s, Rodney Lake, It’s, cardholders, Now’s, Lake, don’t, Freddie Mac, ” Renter, they’ve, Raneri, Lee Baker, there’s, Bankrate, Baker, it’s, , “ Don’t Organizations: NerdWallet, TransUnion, Federal Trade Commission, GW Investment, George Washington University School of Business, Apex Financial Services, P Locations: U.S
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