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Global stocks rally as investors bet that the central bank's move will support US economic growth
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The S&P 500 had already been climbing as investors grew more confident that the Federal Reserve would cut interest rates by half a percentage point. Thursday's gain put the index in range of a closing record.
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"As frequent bond issuers, big tech loves lower rates."
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EY's chief economist and JP Morgan Wealth Management's head of investment strategy weighed in on the decision.
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Asset prices soared as investors took Powell at his word that the outsized rate cut wasn't in response to a substantial economic weakening.
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The president's speech on Thursday won't be a "victory lap," officials said, but it will celebrate falling inflation and borrowing costs along with solid growth.
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The decline in mortgage costs, influenced by expectations of the Federal Reserve's rate moves, could revive interest in buying, selling and remortgaging, economists said.
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Bank stocks moved up on Thursday as they added to gains from the previous session on the heels of the first interest-rate cut by the U.S. Federal Reserve since 2020.
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EU car sales at 3-year low in August, EV sales down 43.9%, ACEA says ReutersGermany's Slump in EV Sales Drags on Europe's Auto Market BloombergNew Car Registrations Slump in Europe Amid Weakening Demand, Steep EV Decline The Wall Street JournalNew car registrations: -18.3% in August 2024; BEV market share down by almost one third ACEA
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Hezbollah chief denounces Israeli attacks as warplane sonic booms rattle Beirut ReutersLebanon rocked by deadly walkie-talkie and pager attacks CNN'Very serious escalation': Lebanese ministers warn of a dangerous next 48 hours after pager and device attacks CNBCWhat to know about the two waves of deadly explosions that hit Lebanon and Syria The Associated Press
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House rejects GOP plan to extend government funding, sending Johnson back to drawing board CBS NewsWhy Trump's election fraud falsehoods might cost the GOP the House CNNFormer Georgia lieutenant governor says Trump is ‘not God': ‘He's a loser' The Hill
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Disney Animation Names Jared Bush Chief Creative Officer, Jennifer Lee Exits for 'Frozen' Franchise DeadlineDisney Animation Boss Steps Down to Focus on ‘Frozen' Sequels The New York TimesDisney Names Jared Bush as Chief Creative Officer of Walt Disney Animation Studios MarketWatchDisney Animation Shake-Up: Jennifer Lee Exiting as Chief Creative Officer, Jared Bush Takes Over
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‘Uncommitted' group won't endorse Harris as she swings through Michigan POLITICO‘Uncommitted' Group Says It Won't Endorse Harris Over Gaza Concerns The New York TimesUncommitted Movement Refuses to Endorse Kamala Harris Rolling StoneLeaders of Democratic protest of Israel-Hamas war won't endorse Harris but warn against Trump The Associated Press
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The decision to hold comes after the U.S. Federal Reserve kicked off its own monetary easing with an aggressive 50 basis point rate cut.
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Striking the balance between technology and humanity is not just a leadership challenge—it is a strategic imperative for companies that want to focus on the people who...
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As workforce anxiety and mental health concerns increase, more attention is turning to their root causes, and the structure of inflexible work itself. From rethinking long hours with four-day workweeks to adopting time flexibility, eliminating meeting bloat and overhauling hustle culture, join Atlassian Global Head of Team Anywhere Annie Dean, Work Time Reduction CEO Joe O'Connor, Better Life Lab Director and Best-selling Author Brigid Schulte, with Forbes Deputy Editor Isabel Togoh for a conversation about what?s changing, what?s not as job insecurities rise, and what companies can do to make work work better for everyone.
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Bomb threats followed Trump's false claims about Springfield. Some Haitians may leave NPR‘Why Springfield?' How a small Ohio city became home for thousands of Haitians CNNSpringfield mayor gives himself emergency powers amid false migrant claim controversy The Hill
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Lower interest rates will soften the prices consumers pay for debt — but people may not see an impact on their payments for a while
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United States Steel Corp.'s stock rose 2.2% early Thursday after the company updated third-quarter guidance and said it's still confident it can win the necessary approvals for its planned takeover by Japan's Nippon Steel, and that it can close the deal by year-end.
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Amazon.com Inc. is raising pay for fulfillment and transportation workers by $1.50 an hour starting this month, raising the base wage to more than $22 an hour, or $3,000 a year on average for full-time employees who work a 40-hour week.
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Will the Fed's rate cut bring down mortgage rates? Fox BusinessMortgage rates are coming down — and home buyers are ready to pounce The Washington PostThe Fed's rate cuts could have unintended consequences for the housing market CNNMortgage and refinance rates today, September 19, 2024: Rates actually increase after Fed meeting Yahoo Finance
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‘He's not God. He's a loser': Geoff Duncan reacts to Trump calling on GOP to shutdown government | CNN Politics CNNGOP lawmakers air their frustration as Speaker Johnson's funding bill fails CNNMike Johnson is walking a fine line between Trump and a shutdown disaster MSNBCHouse votes to reject GOP bill to avert government shutdown The Washington Post
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Airline said it is responding to growing demand for "premium" perks.
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Israel strikes Lebanese targets as Hizbollah chief warns ‘red lines' crossed Financial TimesView Full Coverage on Google News
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Lebanon on edge after wave of Hezbollah blasts and as Israel vows 'new phase' in war USA TODAYView Full Coverage on Google News
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Week 3 NFL survivor pool pick, advice, strategy: Expert who faded Bengals, Ravens gives top knockout pick CBS SportsBleacher Report's Week 3 NFL Picks Bleacher ReportWhat's More Likely: NFL Week 3 possibilities NBC Sports
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Market giving mixed signals; new trading positions include Airbnb.
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When the Federal Reserve cut the federal funds target rate on September 18th, the stock market reacted negatively. This runs counter to our expectations and try to unpack why.
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Teamsters will not endorse Trump or Harris in US presidential race ReutersIt's really sad Teamsters isn't listening to us: Teamsters Local 853 truck driver Fox NewsTrump is right - the Teamsters' refusal to back any candidate is a win for him The TelegraphTeamsters decline to endorse election candidate - but claim majority backs Trump The Guardian US
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The U.S. Federal Reserve made its biggest cut to the benchmark rate in 16 years on Wednesday.
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Federal Reserve cuts rates by half a point and signals era of easing has begun Financial TimesKey takeaways from the Fed's decision to deliver a jumbo-sized interest rate cut CNNWhy the Federal Reserve opted for the big interest rate cut Financial TimesFed slashes interest rates by a half point, an aggressive start to its first easing campaign in four years CNBC
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Large organizations and brands saw their advertising dollars funneled to videos amplifying inflammatory narratives, underscoring how difficult it can be to maintain brand safety online.
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The mini-moon is a tiny asteroid that was discovered in August by a team of NASA-funded scientists.
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The deadline for a potential government shutdown is September 30 if lawmakers fail to agree on a budget. However, the chance of a shutdown is currently viewed as low.
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Donald J. Trump, the company's largest shareholder, has said he won't sell when a lockup agreement expires on Thursday. But other large investors could.
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Research That Led to Obesity Drugs Wins Major Medical Prize The New York TimesTwo scientists whose MGH work led to weight loss drugs win Lasker Award The Boston GlobeScientists who laid groundwork for weight-loss drugs win Lasker medical award The Washington PostLong-overlooked scientist shares Lasker Award with other GLP-1 researchers STAT
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EU to tell Apple how to do interoperability, DMA style TechCrunchApple Gets EU Warning to Open Up iPhone Operating System BloombergEU antitrust regulators to spell out how Apple must open up to rivals ReutersEuropean Union moves to compel Apple to open up operating system to rival tech ABC News
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Earth is about to get a mini-moon (temporarily). What to know about asteroid 2024 PT5. USA TODAYEarth will get another moon this month — but not for long! Space.comBus-size asteroid being sucked toward Earth will become ‘temporary mini-moon' New York Post A New Mini-Moon Is Being Captured by Planet Earth The New York TimesEarth will gain a ‘mini-moon' by September's end
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The EU said Apple must make sure devices made by rivals work with its iPhones and iOS operating systems in accordance with the Digital Markets Act
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Japan firm says it stopped making walkie-talkies used in Lebanon blasts BBC.comPagers attack brings to life long-feared supply chain threat The Washington PostExploding Gadgets Deathtoll Rises in Lebanon as Israel Steps up Talk of War BloombergWireless device explosions latest in long line of suspected Israeli ‘black ops' CNN
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Tupperware Brands, the company that revolutionized food storage decades ago, has filed for Chapter 11 bankruptcy protection.
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The iconic airtight plastic container company's failure to modernize its selling method made it go stale.
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House votes to reject GOP bill to avert government shutdown The Washington PostJohnson under pressure after House fails to pass GOP funding plan and Trump pushes shutdown CNNThese 3 Dems, 14 Republicans crossed aisle on funding bill vote The HillHours before vote, Trump again presses House GOP on short-term spending bill POLITICO
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On Wednesday, the Fed announced that it reduced its key rate by an unusually large half-percentage point.
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The Teamsters decision to forgo an endorsement is a break in tradition: the union has for years backed Democrats for president.
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Fulton Market could be especially active with development as interest rates decline.
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There's been upswing in mortgage refinances as rates have dropped. But the time may not be right for you.
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