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☆ Asia-Pacific markets trade mixed as investors look ahead to Fed meeting
▼ + stars: | 2024-09-17 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +1 min

Containers are loaded on the premises of the port operator PSA, the Port of Singapore Authority (PSA), at the Port of Singapore on 14 June 2022. Most Asia-Pacific markets were mixed Tuesday, following a mixed trading session on Wall Street as investors prepare for the Federal Reserve to kick off its monetary loosening cycle. The Fed is expected to announce its first interest rate cut since March 2022, but markets are split over the size of the reduction from the two-day policy meeting which begins Tuesday. U.S. retail sales data is also set to take center stage as investors monitor the health of the consumer in the lead up to the Fed's meeting. Chinese appliance maker Midea Group is slated to debut in Hong Kong, with shares priced at 54.80 Hong Kong dollars apiece, in what would be the city's largest listing in more than three years.

Organizations: Singapore Authority, Port, Federal Reserve, Traders, Midea, Hong Locations: Port, Port of Singapore, Asia, Pacific, Hong Kong

☆ Latinas contributed $1.3 trillion to U.S. economy, new report says. That number could be even bigger
▼ + stars: | 2024-09-17 | by ( Sean Conlon | ) www.cnbc.com time to read: +6 min

That marks a real GDP growth rate of 51.1% between 2010 and 2021, meaning an economic contribution that's 2.7 times that of the non-Hispanic population. Despite those large figures, some economists think that U.S. Latinas could be contributing more to GDP than the report's figure. A growing forceWhen it comes to labor force participation, Latinas are outpacing other groups, the BofA report showed. Conversely, the non-Latino labor force growth rate was negative that year, meaning that more people left the labor force than entered it. "Whereas all Latinos are a source of economic strength, Latinas are drivers of vitality that the economy needs."

Persons: Manolo, Jeffrey Greenberg, Jeff Greenberg, Belinda Román, Mónica, Pérez, Matthew Fienup, David Hayes, Bautista, —, Latinas, Elise Gould, Andrew Lichtenstein Organizations: Miami, Universal, Getty, Bank of America, St, Mary's University, CNBC, Fayetteville State University, Latina, Center for Economic Research, California Lutheran University, Center, Latino Health, Culture, School of Medicine, UCLA, Drivers, Economic, EPI, Brooklyn Puerto Rico Day, Corbis Locations: Miami Beach , Florida, U.S, Florida, California , Texas, New York, Brooklyn, Bushwick, Brooklyn , New York

☆ Here are Tuesday's biggest analyst calls: Nvidia, Palantir, Amazon, Shopify, Walmart, Microsoft, Palantir, Tesla & more
▼ + stars: | 2024-09-17 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Bank of America reiterates Amazon as buy Bank of America said it's sticking with its buy rating on Amazon following CEO Andy Jassy's letter to employees on Monday. Bank of America adds Palantir to the US1 list Bank of America added the stock to its top picks list. Bank of America reinstates Carvana as buy Bank of America resumed coverage of Carvana and upgraded it to buy saying it sees accelerating growth. Bank of America upgrades Hewlett Packard Enterprise to buy from neutral Bank of America said shares of the company are "attractive." Bank of America upgrades GE Vernova to buy from neutral Bank of America said it sees a "power surge" for the stock.

Persons: Oppenheimer, Andy Jassy's, Andy Jassy, Bernstein, Tesla, underperform Bernstein, Redburn, LSCC, Ford Tamer, Mizuho, DELL, Morgan Stanley, Virgin, Jefferies, it's bullish, JEF, ARMK, Baird, BTIG, " Jefferies, SolarEdge Organizations: Nvidia, " Bank of America, Bank of America, Semiconductor, Stifel, Board, Dell, JPMorgan, ViaSat, United Airlines, Viasat, IFC, Virgin Galactic, Virgin, Citi, UBS, APP, RBC, Baird Conference, Burger, Walmart, Technologies, Healthcare, Barclays, D, WEC, Hewlett Packard Enterprise, of America, Hewlett, Packard Enterprise, GE, Gas Power Services Locations: Europe

The median house price in the U.S. is now 5.8 times more than the median annual income of $80,000. That was, after all, the median price for a house in the area at the time. Jonathan OchartThe median price of a home in Los Angeles county is just under $960,000, according to Zillow listings data. It's just not a level playing field," says Ochart about the income now needed to afford a home. In Grand Rapids, median home prices were on the rise before the pandemic and then soared 54% from 2020 to $285,000 in June 2024, according to Zillow sales data.

Persons: Kelcie Lesko, Tim Khalil, Lesko, Khalil, they'll, Gen Xers, What's, — there's, they're, Daryl Fairweather, Kelly Diehr, homebuyers, you'd, Diehr, Jonathan Ochart, Ochart, It's, Timothy Ham, Timothy Ham couldn't, Ham, you've, That's, boomer, it's, Lawrence Yun, Millennials, Ramit Sethi, Rich, Brad Klontz, homebuying Organizations: CNBC, Homes, LA, National Association of Realtors, NAR Locations: New Jersey, Monmouth County, North Brunswick, Lesko, homeownership, U.S, Denver, Brazil, Los Angeles and New York, San Antonio, Los Angeles, Antonio, Texas, LA, Boise , Idaho, Tacoma , Washington, Grand Rapids , Michigan, Grand Rapids, Kalamazoo

☆ A 30-year-old man built muscle and burned fat in 4 months with a time-saving workout technique
▼ + stars: | 2024-09-17 | by ( ) www.businessinsider.com time to read: +5 min

Read previewA busy office worker said he transformed his physique in four months thanks to an efficient workout plan. AdvertisementIn theory, researchers and trainers say, the combos allow one muscle group to rest while you're working a different muscle group with another exercise, tapping into the benefits of rest without added time. A superset involves performing exercises back-to-back without a break, and can save time by allowing one muscle group to rest while another is working. Using supersets, you can create a full-body plan, and work out harder, because you're not exhausting any one muscle group. Doing a few sets per muscle group more frequently allowed him to make each set count by adding more weight and pushing himself harder, he said.

Persons: —, Andre Frade, Adam Enaz, Enaz, bro, that's, Frade Organizations: Service, Business Locations: London

☆ What the Fed wants and what markets want are 'different things,' strategist says
▼ + stars: | 2024-09-17 | 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 EmailWhat the Fed wants and what markets want are 'different things,' strategist saysMorgane Delledonne, head of investment strategy at Global X ETFs, discusses how the Federal Reserve's interest rate policy and economic data impacts markets.

Persons: Morgane Delledonne Organizations: Fed, Global

☆ More stocks are participating to the upside, signaling a healthier market
▼ + stars: | 2024-09-17 | by ( Scott Schnipper | ) www.cnbc.com time to read: +2 min

In recent weeks, more stocks are participating in the market's move to record or near-record highs. "Market breadth breakouts support the bullish case," Bank of America technical analyst Stephen Suttmeier said in a 29-page report Monday. Suttmeier relied on the advance/decline line , a measure of the number of stocks rising in price on a given day versus the number of stocks that have fallen in price, for his analysis. Advancers also beat decliners on the Nasdaq Stock Market by about 2,500 to 1,000, or a ratio of 2.5 to 1. "Strong advance-decline (A-D) lines show solid market breadth [and] suggest a 'rotational' versus 'toppy' trading pattern since July," Suttmeier told clients.

Persons: Stephen Suttmeier, Suttmeier, Advancers, decliners Organizations: Bank of America, New York Stock Exchange, Nasdaq, U.S, NYSE Locations: U.S

☆ Siemens USA CEO explains how digital twins work to optimize manufacturing
▼ + stars: | 2024-09-17 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

In a Tuesday interview with CNBC's Jim Cramer, Siemens USA CEO Barbara Humpton detailed how her company's digital twin program lets builders test models virtually before starting production. Based in Germany, Siemens develops hardware and software for several industries like electrical infrastructure and transportation, as well as digital twin technology for manufacturing facilities. Humpton said digital twins produce a "digital representation of any physical object" and incorporate the laws of physics. Humpton highlighted the company's "smart infrastructure" initiative, which she said is Siemens USA's largest and fastest-growing business. Smart infrastructure technology enables widespread electrification and data center creation, she said.

Persons: CNBC's Jim Cramer, Barbara Humpton, Humpton Organizations: Siemens USA, Siemens, NASA, Las Vegas Locations: Germany, Mars, U.S, New York, Los Angeles, North America, United States

☆ Gold's rally to records shows no signs of slowing
▼ + stars: | 2024-09-17 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Gold prices just won't stop rising. Year to date, gold is up nearly 26% — outpacing the S & P 500's 18% gain. Since ETF holdings only increase gradually as the Fed cuts, this upside is not yet fully priced in." Investors seeking exposure to gold can obtain it through exchange traded funds, such as the SPDR Gold Shares ETF (GLD) . The fund, which tracks gold prices and charges 0.4% in fees, is up nearly 25% in 2024.

Persons: Goldman Sachs, Lina Thomas, Thomas, Christopher Danely Organizations: Reserve, Goldman, Miners, Gold Miners, Citigroup, Micron Technology

☆ Amazon's RTO mandate won't pay off in the way the company hopes
▼ + stars: | 2024-09-17 | by ( Madeline Berg | Tim Paradis | ) www.businessinsider.com time to read: +8 min

Read previewSorry, Amazon employees. CEO Andy Jassy announced on Monday that starting next year, Amazon employees must be in the office five days a week. Amazon's announcement comes after 15 months of hybrid work — employees had to be in three times a week. Some employers like Amazon are looking to take back powerIn the pandemic era, the labor market favored office workers. Oftentimes, introverted employees work better outside the office, and some people find that the pressure of in-person work can stifle productivity and deep thinking, Duffy said.

Persons: —, Andy Jassy, Goldman Sachs, Caitlin Duffy, Duffy, Julia Hobsbawm, Hobsbawm, Amazon's Jassy, Jassy, Nicholas Bloom, who's, Bloom, what's, Deborah McGee, McGee, Gen Z, they're Organizations: Service, Business, Slack, Employees, JPMorgan, Gartner, Stanford, Research, Data Technologies, PZI Locations: America

☆ Sheryl Sandberg discusses women's advancement at work: Progress is 'pretty fragile'
▼ + stars: | 2024-09-17 | by ( Julia Boorstin | ) www.cnbc.com time to read: +1 min

LeanIn and McKinsey have released their annual Women in the Workplace Report, and while there are clear signs of progress, women also face major headwinds. Companies now offer significantly more work-life benefits than they did even five years ago: In 2024, 92% of companies offered paid maternity leave and 86% offered paid paternity leave, up from 2018, when 78% of companies offered paid maternity leave and 70% offered paid paternity leave. "We're seeing some progress, but it's pretty fragile," says Sheryl Sandberg, the founder and board chair of LeanIn. "People have added women to senior leadership in staff roles, but if you're looking for, 'Where's the CEO pipeline?' While women have reached the C-suite, they disproportionately oversee staff functions, she points out, like legal and HR.

Persons: LeanIn, Sheryl Sandberg Organizations: McKinsey, Fortune, Companies Locations: LeanIn

☆ Retail sales unexpectedly rise 0.1% in August
▼ + stars: | 2024-09-17 | 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 EmailRetail sales unexpectedly rise 0.1% in AugustCNBC's Rick Santelli joins 'Squawk Box' to break down the August retail sales data.

Persons: Rick Santelli

☆ Drinking 1 to 3 cups of coffee a day may protect heart health
▼ + stars: | 2024-09-17 | by ( Madeline Holcombe | ) edition.cnn.com time to read: +5 min

“Coffee and caffeine consumption may play an important protective role in almost all phases of CM development,” Ke said. What researchers don’t knowThe methodology is strong and the results line up with existing data about caffeine and heart health, but there are still questions about the extent of the connection between caffeine and heart health, Marcus said. Because the study is observational, it can only show a connection between caffeine and heart health, he said. Other factors may actually be the cause of the improved heart health, he added. And contrary to popular wisdom, drinking caffeine in coffee is associated with experiencing a lower risk of abnormal heart rhythms, he added, pointing to his and others’ research.

Persons: Chaofu Ke, Cardiometabolic, ” Ke, Ke, Gregory Marcus, ” Marcus, Marcus, ” Organizations: CNN, Soochow University, Metabolism, University of California Locations: Suzhou, China, San Francisco

☆ A millennial couple who moved to South Korea says $400 a month for full-time childcare is a huge perk
▼ + stars: | 2024-09-17 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +5 min

They're learning how to be parents in an unfamiliar environment, but there's one thing that could work in their favor: low childcare costs. The couple then moved to Seoul, South Korea, about two months ago, where they currently reside. "Full-time day care is really cheap," the 38-year-old told BI via email. Between 1983 and 2023, US childcare costs rose over 800% compared to a 300% increase for overall inflation, according to a BI analysis published last year. Are you struggling with high childcare costs?

Persons: —, Chris Oberman, Oberman Organizations: Service, Business, of America, . Bank of America, South Korean Locations: Netherlands, —, Beijing, Shanghai, Erbil, Iraq, Seoul, South Korea, China

☆ Business inventories rise more than expected, reach highest level since May
▼ + stars: | 2024-09-17 | by ( Rick Santelli | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBusiness inventories rise more than expected, reach highest level since MayCNBC's Rick Santelli reports on the latest economic data to cross the tape.

Persons: Rick Santelli

☆ Influencer app Node's $13 million sale shows how central tech and AI have become to talent management
▼ + stars: | 2024-09-17 | by ( Dan Whateley | ) www.businessinsider.com time to read: +4 min

Read previewThe talent-management agency Dulcedo Group acquired the influencer-marketing app Node in a July deal that valued the company at around $13 million, Node's cofounders told Business Insider. The deal shows how important tech products, including artificial-intelligence tools, have become in the talent and marketing industries. Founded in 2008 as an agency for more traditional media talent, Montreal-based Dulcedo Group has recently been on a buying spree, announcing in November it acquired creator talent agency Influence+All and PR firm Sundae Creative. Related storiesThe cofounders ultimately connected with Dulcedo Group, which put in an offer to acquire Node. Dulcedo Group was drawn to the company's technological expertise and roster of micro influencers, Faraji told BI.

Persons: —, Node's cofounders, Cofounders Armin Faraji, Mackenzie Dérival, Faraji, Stagwell, Dérival, they're, It's Organizations: Service, Dulcedo Group, Business, Publicis, Stagwell, Sundae Locations: Montreal, Dulcedo

International credit scores generally do not transfer to credit scores in the U.S. Nova Credit allows immigrants from some countries to apply for credit with an international credit score. FICO VantageScore Payment history (35%) Payment history (40%) Credit balance (30%) Length & type of credit (21%) Length of credit history (15%) Percent of credit used (20%) New credit (10%) Total debt/balances (11%) Mix of credit accounts (10%) Recent credit behavior and inquiries (5%) Available credit (3%)Varying reporting standardsOther countries have credit-scoring systems that differ from the United States. Check for applying without a U.S. credit history — While filling out a credit card application, check a box with "apply without having a U.S. credit history." Along with exploring credit scores, credit reports, and how to build credit, Jennifer analyzes how current economic trends impact everyday people and offers her expert advice on budgeting, saving, and growing wealth in today’s economy.

Persons: Misha Esipov, Dun, Bradstreet, Equifax, TransUnion, you've, Jennifer, Read Organizations: Nova Credit, Popular, Nova Credit's, Nova, American Express, Business, Yahoo, Finance, CBS, MSNBC, CNBC, Forbes, Black Enterprise, USA, The Johns Hopkins University Carey School of Business, Business Journalists Locations: U.S, United States, America, Experian, Nova, Canada, Japan, Australia, Brazil, Dominican Republic, India, Kenya, Mexico, Nigeria, Philippines, South Korea, Spain, Switzerland, TheGrio, New York City

☆ Hedge funds are planning a 'budget boom' in 2025 for the datasets that cost them millions a year
▼ + stars: | 2024-09-17 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +3 min

Nearly all buyers (95%) — including hedge funds, venture capital managers, and consultants — surveyed by research firm Neudata expect their 2025 budget to grow or remain the same. "The mood among alternative data buyers and sellers is one of confidence," the report reads in a section about the expected "budget boom." AdvertisementAnd this boom might hurt hedge funds' wallets. Alternative datasets have become increasingly viewed as table stakes, shifting from "nice to have" to "need to have" internally. There's also a surge of interest in using alternative data backlogs to train AI models, giving long-running alternative data vendors another leg up in negotiations.

Persons: —, There's, Neudata Organizations: Service, Business, Jefferies

☆ 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

☆ Russia is still passing $2 billion worth of its oil products to the West via middlemen, think tank says
▼ + stars: | 2024-09-17 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The West is still taking in billions worth of Russian oil products, a new think tank analysis shows. AdvertisementRussia is still passing off billions of dollars worth of oil products to the West — a sign that the West is still struggling to throttle Moscow's war revenue with strict sanctions. CREA data shows that Russia sold $1.3 billion worth of oil to three Turkish refineries in the first half of the year. G7+ nations, meanwhile, purchased around $2 billion of oil products of Russian origin from Turkish refiners, the think tank estimated. Turkey is the last-remaining "short-haul market" for Russian oil sent from its western ports, taking in around 210,000 barrels of Russian crude a day the last month, the outlet reported.

Persons: —, It's, crimp Organizations: Service, Centre for Research, Energy, Clean, Argus Media, Bloomberg Locations: Russia, Turkey, West, Turkish, Ukraine, ., New York

☆ Looking for tech stocks? CIO names 3 to buy — and says Nvidia is still 'reasonably valued'
▼ + stars: | 2024-09-17 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +5 min

Tech stocks may have had a volatile past few weeks , but one chief investment officer is still bullish. The chief investment officer believes Nvidia's stock is "reasonably valued," based on its two to three-year outlook. "We've been doing that, and we've been pretty happy with the price we've been getting," he added. Broadcom shares fell 7% in extended trading following its results announcement, but remain up close to 47.5% year-to-date. Nineteen of 33 analysts covering the stock give it a buy or overweight rating, according to FactSet data.

Persons: Jason Ware, Jensen Huang's, Ware, CNBC's, We've, we've, Oracle Corporation Ware, it's, Leswing, Jordan Novet Organizations: Microsoft, Nvidia, Oracle, Broadcom, Oracle Corporation, Apple, Tesla Locations: Albion

☆ Why these three states are the most consistent tipping point in American politics
▼ + stars: | 2024-09-17 | by ( Ronald Brownstein | ) edition.cnn.com time to read: +21 min

Trump won the presidency in 2016 by stunning Democrat Hillary Clinton to win all three states by a combined margin of about 80,000 votes. But, as in other states, Democrats have been concerned about the risk of depressed turnout and some gains for Trump among Black voters in Philadelphia. Eight years later, the two states split again, when Roosevelt comfortably won Pennsylvania and Michigan narrowly went to Republican Wendell Willkie. This trio of states has arguably become the most consistent tipping point in American politics. In the nine elections since 1920 when they split their vote, the candidate who carried two of these three states won seven times.

Persons: Kamala Harris, Donald Trump –, Trump, Hillary Clinton, Joe Biden, Harris, Bob Shrum, Shrum, Tad Devine, “, Biden, PRRI, William Frey, Tim Marema, don’t, Mason, Dixon, Barack Obama, Tony Evers, Gretchen Whitmer, Josh Shapiro, Republican Sen, Ron Johnson, Dane County, Ben Wikler, Pete Giangreco, ”, You’ve, That’s, Gene Ulm, Roe, Wade, Whitmer, Branden Snyder, It’s, Clinton, Dante Chinni, White, ” Chinni, they’ve, They’ve, Republican pollster Patrick Ruffini, Ruffini, “ I’m, ” Ruffini, Geoff Garin, Michael Dukakis, Republican George H.W, Republican George H.W . Bush, James Buchanan, John C, Franklin D, Roosevelt, Herbert Hoover, Republican Wendell Willkie, Gerald Ford, Jimmy Carter, Theodore Roosevelt’s, Al Gore, John Kerry, Republican Thomas Dewey, Hubert Humphrey, Garin Organizations: CNN, White House, Democratic, Michigan, Wisconsin, AdImpact, Trump, Center, University of Southern, “, Republicans, Survey, Blacks, of Labor Statistics, Public Religion Research, Whites, GOP, Brookings Metro, for Rural, doesn’t, Keystone State, Republican, Center for Rural, Democrats, Biden, Black, White, Wisconsin , Michigan Democrats, Detroit, Electoral, American Communities Project, …, Democrat, Pennsylvania, Republican Party Locations: Michigan, Wisconsin, Pennsylvania, Georgia, North Carolina , Arizona, Nevada, Flint , Michigan, University of Southern California, California , New York, Illinois, Texas, Florida, Ohio, . Michigan, Wisconsin’s, Milwaukee, Philadelphia, Detroit, Waukesha, Ozaukee, Washington, Madison, Dane, Dane County, Eau Claire, Appleton, La Crosse, Outagamie, Winnebago, Green Bay, Green, Chicago, Scranton, Wilkes, Barre, ” Michigan, “ Michigan, Gaza, Wisconsin , Michigan, United States, “ Pennsylvania, Ulm, Pittsburgh, Butler , Pennsylvania, Republican George H.W ., Fremont, North Carolina, Michigan , Pennsylvania, “

☆ Oil extends gains on U.S. output concerns, expected drop in stockpiles
▼ + stars: | 2024-09-17 | by ( ) www.cnbc.com time to read: +1 min

Oil prices extended gains on Tuesday as the market eyed U.S. output concerns in the aftermath of Hurricane Francine and expectations of lower U.S. crude stockpiles. The market is keeping a close watch on the upcoming decision by the U.S. Federal Reserve on the interest rate cut. A lower interest rate will reduce the cost of borrowing and can potentially lift oil demand by supporting economic growth. "Growing expectations of an aggressive rate cut boosted sentiment across the commodities complex," said ANZ analysts in a note, adding that ongoing supply disruptions also supported oil markets. China's oil refinery output fell for a fifth month in August amid declining fuel demand and weak export margins, government data showed on Saturday.

Persons: Hurricane Francine Organizations: Brent, Federal, U.S . Bureau of Safety, U.S . Federal Reserve, ANZ, Investors Locations: U.S . Gulf, Mexico, U.S, China

☆ FDIC unveils rule forcing banks to keep fintech customer data in aftermath of Synapse debacle
▼ + stars: | 2024-09-17 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

The Federal Deposit Insurance Corporation on Tuesday proposed a new rule forcing banks to keep detailed records for customers of fintech apps after the failure of tech firm Synapse resulted in thousands of Americans being locked out of their accounts. That's what happened in the Synapse collapse, which impacted more than 100,000 users of fintech apps including Yotta and Juno. Customers with funds in these "for benefit of" accounts have been unable to access their money since May. Keeping better records would allow the FDIC to quickly pay depositors in the event of a bank failure by helping to satisfy conditions needed for "pass-through insurance," FDIC officials said Tuesday in a briefing. While FDIC insurance doesn't get paid out in the event the fintech provider fails, like in the Synapse situation, enhanced records would help a bankruptcy court determine who is owed what, the officials added.

Persons: Biden Organizations: Federal Deposit Insurance Corporation, FDIC, Federal Register, Bank, JPMorgan Chase

☆ Stock market today: Indexes rise on upbeat retail sale data ahead of Fed meeting
▼ + stars: | 2024-09-17 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Stocks pushed higher as positive retail sales surprised investors. All eyes are on the Federal Reserve's likely interest rate cut on Wednesday. AdvertisementStocks moved higher after stronger-than-expected US retail sales boosted confidence in consumer health, as the Federal Reserve's two-day policy meeting is set to kick off. Retail sales increased 0.1% last month, compared to consensus estimates of a 0.2% decline. Strong retail sales suggest that the Fed does not necessarily have to hurry with larger cuts, as the consumer economy appears intact for now.

Persons: Stocks, —, That's, Scott Helfstein Organizations: Service, Federal, Investment, Global

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