Grace Cary | Moment | Getty ImagesInflation continued to throttle back in August, signaling that the fast-rising prices that plagued the U.S. economy for the better part of the three years during the pandemic era are increasingly shifting into the rearview mirror.Overall inflationary pressures are “dissipating,” said Sarah House, senior economist at Wells Fargo Economics.The consumer price index — which measures how fast prices are changing across the U.S. economy — rose 2.5% in August from a year ago, the U.S. Department of Labor reported Wednesday.That figure is down from 2.9% in July and is the lowest reading since February…
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Speaker of the House Mike Johnson, R-La., conducts a news conference in the Capitol Visitor Center after a meeting of the House Republican Conference on Tuesday, September 10, 2024. Tom Williams | CQ-Roll Call, Inc. | Getty ImagesHouse Speaker Mike Johnson on Wednesday cancelled a planned vote on a stopgap funding bill that could keep the government open for the next six months after more than a dozen of his fellow Republicans walked back their support for the legislation.”We’re going to work through the weekend on that,” said Johnson, R-La. “No vote today because we’re in the consensus-building business here in…
Safi employees at work.Courtesy of Safi BiotherapeuticsLast month, the American Red Cross declared an emergency blood shortage after its national supply fell by more than 25% in July. One startup’s solution: Lab-grown blood.Shortages can be dire for patients since doctors have to make tough decisions about who needs blood transfusions the most. The American Red Cross collects and distributes about 40% of the U.S.’ blood supply, per its website, and the organization is imploring more people to donate. But if Doug McConnell has his way, hospitals and clinics won’t have to rely on donations forever. McConnell is CEO of a four-year-old startup…
Australian field hockey player Tom Craig has been suspended for 12 months after being arrested for allegedly buying cocaine during the Paris Olympics.Hockey Australia has imposed the ban on the 29-year-old following an investigation by the governing body’s integrity unit. The second six months of the ban will be suspended if behavioural requirements are met.The suspension will prevent Craig from competing in any match organised by Hockey Australia, but he will continue to have access to the governing body’s athlete support services.A Hockey Australia statement read: “Following an investigation into the arrest involving National Men’s Hockey Team athlete Tom Craig…
Investors and Wall Street analysts may want to take a closer look at stocks that could be winners under a President Kamala Harris after Tuesday night’s debate . The current vice president’s debate with former President Donald Trump was widely seen as a win for the Democrat, and the ods of Harris winning in November have climbed in betting markets . National polls showed a tight race heading into the debate, but some now believe Harris could get a bump from her performance. “We expect a near-term bounce towards Vice President Harris following the first debate with former President Trump,…
Treasury yields ticked lower Wednesday as Wall Street assessed a mixed consumer price index report and its implications for the Federal Reserve’s rate move next week.The yield on the 10-year Treasury was less than 1 basis point lower at 3.637%, with the 2-year Treasury yield last down about 1 basis point at 3.598%.Yields and prices move in opposite directions. One basis point is equivalent to 0.01%.Consumer prices rose 0.2% and in line with expectations for August, but the monthly core inflation figure came in slightly higher than expected. Excluding food and energy prices, CPI rose 0.3% versus a Dow Jones…
Some tech stocks are due for outperformance heading into year’s end, according to UBS. Heading into the fourth quarter of 2024, the firm has unveiled their 11 highest conviction picks in the technology, media and telecommunications space, including one semiconductor name in particular that can serve as another option to Nvidia . This comes a week after the AI darling wiped nearly $300 billion off its market cap – the biggest one-day drop in U.S. history. Nvidia dragged other chip stocks down with it, with the VanEck Semiconductor ETF (SMH) suffering its worst day since March 2020. Here are some…
A Lake Elsinore house seen in the path of the oncoming Airport Fire. The Airport Fire originating from Trabuco Canyon, now makes its way through Lake Elsinore on the Ortega Freeway. Jon Putman | Lightrocket | Getty ImagesAlex Luna, a 20-year-old missionary, saw the sky turn from a cherry red to black in about 90 minutes as an explosive wildfire raced toward the Southern California mountain community of Wrightwood and authorities implored residents to leave their belongings behind and get out of town.”It was very, I would say, hellish-like,” Luna said Tuesday night. “It was very just dark. Not a good…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailRather than travelers sitting down to plan trips, “I want us to be going to the traveler” with recommendations based on travelers’ prior trips, Booking.com’s CEO Glenn Fogel told CNBC’s Monica Pitrelli. Source link
Here are Wednesday’s biggest calls on Wall Street: Goldman Sachs downgrades Morgan Stanley to neutral from buy Goldman said it sees better value elsewhere than Morgan Stanley. “While a high quality franchise, we believe that there are other stocks better positioned to benefit from the capital markets recovery.” Goldman Sachs upgrades Evercore to buy from neutral Goldman said the investment banking firm is “best in class.” “We expect EVR to continue delivering above-average revenue growth and market share gains, as investments in advisory and non-advisory bear fruit, and given its best-in-class skew to parts of the cycle that we expect…
