North Korean leader Kim Jong Un, center, and military officials watch at missile launch in this image from the state-run Korean Central News Agency on Sept. 19, 2024. (KCNA) SEOUL, South Korea — North Korea on Thursday said it successfully test-fired its latest short-range ballistic missile and a “highly upgraded” cruise missile during the communist regime’s most recent show of force. Wednesday’s launches were overseen by North Korean leader Kim Jong Un, who “expressed great satisfaction” over the firing of the Hwasongpho-11-Da ballistic missile capable of carrying a 4.5-ton warhead, according to a state-run Korean Central News Agency report the…
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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. Markets: The Federal Reserve on Wednesday afternoon cut the fed funds overnight bank lending rate by 50 basis points to the range between 4.75% and 5%. The Fed was widely expected to lower short-term interest rates, but the 25 basis points versus 50 debate raged right up until the announcement. It was the first true toss up in a long time. In the end, the Fed opted to go with a…
Aritificial intelligence (AI) will not replace investment managers, but investment managers that successfully integrate AI will replace those that do not. AI is surrounded by hype, but at its core it is an automation technology with the potential to power significant breakthroughs in the industry. It also has the potential to restore the primacy of active management, but in a new form. However, the reaction in the industry has so far been more about marketing than reality. So far, traditional fundamental managers have tended to be skeptical about applying AI, while in the quant space there has been a tendency…
By Jamie McGeever ORLANDO, Florida (Reuters) – Beyond the immediate headlines generated by the Fed’s 50 basis point interest rate cut, it is policymakers’ revised outlook for the fed funds rate’s eventual destination, and how soon it takes to get there, that matters more. Broadly speaking, the Fed indicated on Wednesday it will emerge from its restrictive policy stance a little sooner than previously indicated, and the eventual ‘neutral’ level of policy will be slightly higher. The Fed is essentially signaling a slightly faster and shallower easing cycle. The first part of that may point to alarm over the labor…
PORTLAND, Ore. — The commitment to build a practice facility and the promise to prioritize player welfare, plus a bunch of data points that show the city would support a new sports franchise, were all key factors in Portland being awarded the 15th WNBA team, an announcment made official Wednesday at a celebration event hosted by the Moda Center, home of the Portland Trail Blazers.Alex Bhathal and Lisa Bhathal Merage, the brother-sister duo who recently purchased the NWSL’s Portland Thorns, are the WNBA’s newest owners.Part of the reason why is because of what they vowed to the league and commissioner…
Ray Dalio, Bridgewater Associates co-chairman and co-chief investment officer, speaks during the Skybridge Capital SALT New York 2021 conference.Brendan McDermid | ReutersAs the U.S. Federal Reserve implemented its first interest rate cut since the early Covid pandemic, billionaire investor Ray Dalio flagged that the U.S. economy still faces an “enormous amount of debt.”The central bank’s decision to cut the federal funds rate by 50 basis points to a range of 4.75% to 5%. The rate not only determines short-term borrowing costs for banks, but also impacts various consumer products like mortgages, auto loans and credit cards.”The challenge of the Federal…
By Tom WestbrookSINGAPORE (Reuters) -The dollar bounced, long-dated bond yields were up and Asian stocks rose after the U.S. Federal Reserve announced a 50-basis-point rate cut and flagged that its easing cycle would be measured.The S&P 500 hit a record high overnight and although it closed slightly lower, futures rose 0.67% in the Asia day. Nasdaq futures were up 1%. Japan’s Nikkei jumped 2.5% and stock markets in Australia and Indonesia hit record highs.The Fed lowered its window for the benchmark policy rate by 50 basis points to 4.75-5%, where traders had been leaning before the decision. The dollar immediately…
The ongoing competition between Google Maps and Waze has intensified as Google strives to bridge the feature gap between the two navigation apps. While Waze remains the preferred choice for those seeking comprehensive road information, including speed traps, accidents, and potholes, its recent integration of speed bumps has highlighted the need for additional improvements. The inclusion of speed bumps as a new alert type in Waze has inadvertently created a cluttered user experience, as users are frequently notified about common hazards on their regular routes. This is particularly problematic for users who frequently travel on roads with known speed bumps,…
The Federal Reserve raised eyebrows Wednesday with a bigger-than-expected cut in a key interest rate, portraying the move as essentially an insurance policy against a possibly slowing economy now that it believes inflation is under control.But the action, which took many by surprise, also risks putting the independent central bank smack in the middle of the last stretch of the 2024 presidential race, as it will help keep the economic recovery touted by Democrats. But it could also be used by former President Donald Trump to support his gloomy statements about the economy.“The labor market is actually in solid condition,…
In a recent move closely watched by market participants, Katherine Adkins, the Chief Legal Officer of Affirm Holdings , Inc. (NASDAQ:), engaged in significant transactions involving the company’s Class A Common Stock. Over a span of three days, Adkins sold a total of $6,075,068 worth of stock at prices ranging from $45.00 to $45.0013 per share.The sales were executed in accordance with a pre-arranged Rule 10b5-1 trading plan, which Adkins had adopted on June 13, 2024. This plan allows company insiders to establish predetermined trading arrangements for selling stocks at a time when they are not in possession of material…