Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Rate cut reaction: The stock market reversed its gains and dropped after the Federal Reserve on Wednesday afternoon cut interest rates by 25 basis points to the target range of 4.25% to 4.50. The vote was not unanimous. There was one dissenting vote by Cleveland Fed President Beth Hammack, who was in favor of no cuts. The December meeting included an update to the monetary policymakers’ Summary of Economic Projections —…
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Sam Altman, co-founder and C.E.O. of OpenAI, speaks during the New York Times annual DealBook summit at Jazz at Lincoln Center on December 04, 2024 in New York City. Michael M. Santiago | Getty ImagesOpenAI is giving users a new way to talk to its viral chatbot: 1-800-CHATGPT.By dialing the U.S. number (1-800-242-8478) or messaging it via WhatsApp, users can access an “easy, convenient, and low-cost way to try it out through familiar channels,” OpenAI said Wednesday. At first, the company said callers will get 15 minutes free per month.The news follows a barrage of updates from OpenAI as part of…
Traders work at the New York Stock Exchange on Dec. 17, 2024.NYSEThis report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here.What you need to know todayA cut now, but fewer aheadThe U.S. Federal Reserve lowered interest rates by 25 basis points on Wednesday, taking its overnight borrowing rate to a target range of 4.25%-4.5%. In the Fed’s dot plot indicating expectations for rates in the years ahead, the central bank mostly indicated just…
A person holds a sign while standing on the roadside near the McDonald’s restaurant where a suspect in the killing of the CEO of UnitedHealthcare, Brian Thompson, identified as Luigi Mangione, 26, was arrested, in Altoona, Pennsylvania, U.S. December 9, 2024. Matthew Hatcher | ReutersThe deadly, targeted shooting of UnitedHealthcare CEO Brian Thompson has unleashed a torrent of pent-up anger and resentment toward the insurance industry, renewed calls for reform and reignited a debate over health care in the U.S. Almost no expert, provider, or patient would say U.S. health care works as it should for patients. The problem is deciding how…
European markets are expected to nosedive at the open Thursday, following their global counterparts lower after the U.S. Federal Reserve signalled yesterday that few rates cuts are on the horizon.The U.K.’s FTSE 100 index is expected to open 84 points lower at 8,105, Germany’s DAX down 265 points at 19,993, France’s CAC down 105 points at 7,284 and Italy’s FTSE MIB down 507 points at 33,876, according to data from IG.The anticipated lower open for Europe comes follows a Wednesday sell-off on Wall Street after the Fed, which cut its overnight borrowing rate by 25 basis points to a target range of…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what’s ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. In today’s show, Arkansas Representative French Hill, who was selected as the incoming Financial Services Committee chair, discusses his crypto lawmaking priorities for 2025.12:55Wed, Dec 18 20243:00 PM EST Source link
The stock sell-off on Wall Street was “healthy,” as the Federal Reserve’s cautionary projection on future rate cuts gives investors a “reality check,” according to Jeremy Siegel, professor emeritus of finance at University of Pennsylvania’s Wharton School.The U.S. Federal Reserve cut interest rates by a quarter percentage point at its last meeting of the year, taking its overnight borrowing rate to a target range of 4.25% to 4.5%. Meanwhile, the Federal Open Market Committee indicated it probably will only lower rates twice more in 2025, fewer than the four cuts indicated in its September forecast.All three major indexes on Wall…
Hispanolistic | E+ | Getty ImagesMany investors are likely still deciding whether to stay in bitcoin or reduce their profits from the last bull run to new all-time highs.So, after a strong year for bitcoin, it could be time for investors to weigh rebalancing their portfolio by shifting assets to align with other financial goals, according to financial experts. The price of the flagship digital currency sailed past $100,000 in early December and was still up more than 130% year-to-date, as of Dec. 18. Some investors now have large bitcoin allocations — and they could have a chance to “take some risk…
Skynesher | E+ | Getty ImagesWhen it comes to financial resolutions for 2025, there’s one goal that often lands on the top of the list — paying down debt, according to a new survey from Bankrate.That’s as a majority of Americans — 89% — say they have a main financial goal for 2025, the November survey of almost 2,500 adults found.While paying down debt came in as a top goal, with 21%, other items on Americans’ financial to-do lists include saving more for emergencies, with 12%; getting a higher paying job or additional source of income, 11%; budgeting and spending…
Consumers are feeling the effects of higher prices, not higher inflation, Powell saysPowell thinks that consumers are feeling the effect of high prices, rather than of high inflation.”We understand very well that prices went up by a great deal, and people really feel that, and it’s prices of food and transportation and heating your home and things like that. So there’s tremendous pain in that burst of inflation that was very global,” he said. “Now we have inflation itself is way down — but people are still feeling high prices — and that is really what people are feeling.”Powell added…
