Sean O’Brien, President of the International Brotherhood of Teamsters, speaks to UPS Teamsters during a picket ahead of an upcoming possible strike, outside of a UPS Distribution Center in Brooklyn, New York, July 14, 2023.Brendan McDermid | ReutersThe International Brotherhood of Teamsters on Wednesday announced it will not formally endorse a candidate in the 2024 presidential election, ending months of speculation about whether the labor union would back Republican Donald Trump or Democrat Kamala Harris.The union’s General Executive Board said in a statement that its member polling showed no majority support for Harris, and no universal support for Trump.”The Teamsters…
Author: usaeverydaylife
As the riots raged in the U.K., Elon Musk began making incendiary comments about the situation, including the statement: “Civil war is inevitable.” Musk is the owner of X, the social media platform formerly known as X.Aytug Can Sencar | Anadolu | Getty ImagesWhile top executives from Alphabet, Meta and Microsoft are headed to Capitol Hill on Wednesday for a hearing on election threats, Elon Musk’s X won’t be participating.A representative for Sen. Mark R. Warner, the Democratic chair of the Senate Intelligence Committee, told CNBC in an emailed statement that X “declined to send an appropriate witness.” No further…
Noah Powell was sitting in his usual chair by the TV at his home in the suburbs north of Chicago, surrounded by a close-knit group of family and friends.The group hadn’t travelled to Vegas for the 2024 NHL Draft. Powell kept the gathering small because he had no idea if he’d even be picked. He’d passed through drafts — plural — before, going unselected into the USHL and missing out at the NHL level once already. He still wasn’t among the 223 North American skaters ranked by NHL Central Scouting for 2024, despite having just led the USHL in goals with…
U.S. Federal Reserve Chair Jerome Powell speaks during a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, U.S., July 31, 2024. Kevin Mohatt | ReutersThe Federal Reserve projected lowering interest rates by another half point before the end of 2024, and the central bank has two more policy meetings to do so.The so-called dot plot indicated that 19 FOMC members, both voters and nonvoters, see the benchmark fed funds rate at 4.4% by the end of this year, equivalent to a target range of 4.25% to 4.5%. The Fed’s two remaining…
With the Federal Reserve rate-cutting cycle expected to begin and the November election just around the corner, now could be a good time to invest in municipal bonds. For one, they are a way to lock in yield as interest rates fall. “Municipals are a great way to do that, given the tax-exempt nature, and given that a lot of municipals are longer maturity and longer duration,” said Matthew Norton, chief investment officer for municipal bonds at AllianceBernstein. Duration is a measurement of a bond’s price sensitivity to fluctuations in rates, and longer-dated issues tend to have greater duration. “Once…
This is a comparison of Wednesday’s Federal Open Market Committee statement with the one issued after the Fed’s previous policymaking meeting in July.Text removed from the July statement is in red with a horizontal line through the middle.Text appearing for the first time in the new statement is in red and underlined.Black text appears in both statements.Zoom In IconArrows pointing outwardsFollow along with continuing Fed coverage and Chair Jerome Powell’s news conference here.Don’t miss these insights from CNBC PRO Source link
What does the old Nationwide Insurance commercial say? “Life comes at you fast.”Indeed it does.Just ask Bryce Young, the quarterback once heralded as the savior of the Carolina Panthers. Sunday afternoon, despite another poor outing from the 2023 No. 1 pick, Panthers coach Dave Canales pledged loyalty to Young. Less than 24 hours later, Canales announced he had decided to bench Young in favor of 14-year NFL veteran Andy Dalton.“Bryce is our quarterback” quickly changed to “Andy gives us the best chance to win,” as Canales desperately seeks to stop the bleeding after the 0-2 Panthers got outscored 73-13 in…
WASHINGTON – The Federal Reserve on Wednesday enacted its first interest rate cut since the early days of the Covid pandemic, slicing half a percentage point off benchmark rates in an effort to head off a slowdown in the labor market.With both the jobs picture and inflation softening, the central bank’s Federal Open Market Committee chose to lower its key overnight borrowing rate by a half percentage point, or 50 basis points, affirming market expectations that had recently shifted from an outlook for a cut half that size.Outside of the emergency rate cuts during Covid, the last time the FOMC…
Concerns about iPhone 16 lead times could send Apple shares lower in the near term, according to Morgan Stanley. While the investment bank notes that lead times have doubled since last Friday, they are still shorter year over year, which could increase the likelihood of negative iPhone build revisions and stock underperformance, by extension. Analyst Erik Woodring notes that in the past five December quarters where lower build revisions have taken place, earnings per share revisions for the December quarter have also been revised lower by 1.7% on average. This has led to the stock underperforming by an average of…
The start of a Federal Reserve rate-cutting cycle often coincides with a rally for gold, but investors might be surprised to find out that the upward move has already been going on all year. Spot gold enters Wednesday up nearly 25% in 2024, outpacing the S & P 500 and Nasdaq Composite . The Fed is widely expected to lower its benchmark interest rate later in the afternoon, though the market is still split on how big the reduction will be. XAU= YTD mountain Gold is outperforming the major U.S. stock index year to date. Typically, gold moves opposite of…
