Author: News Room

WASHINGTON – Federal Reserve officials at their September meeting agreed to cut interest rates but were unsure how aggressive to get, ultimately deciding on a half percentage point move in an effort to balance confidence on inflation with worries over the labor market, according to minutes released Wednesday.The meeting summary detailed reasons that policymakers decided to approve a jumbo rate cut of 50 basis points for the first time in more than four years, and showed members divided over the economic outlook.Some officials hoped for a smaller, quarter percentage point reduction as they sought assurance that inflation was moving sustainably…

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 S & P 500 rose to a new record high Wednesday. There was no specific catalyst for the move, but we are seeing a continuation of a theme that we’ve been pointing out. With oil prices sliding and China’s market giving back more of its recent gains, U.S. stocks have been free to rally. The market maintained its gains after minutes from the Federal Reserve’s September policy meeting showed…

Democratic presidential candidate Kamala Harris has backed an earth-shattering idea: For the first time, traditional Medicare would pay for personal assistance at home and related long-term care. Currently, only Medicaid and certain Medicare managed care programs provide long-term care benefits. Harris endorsed the idea in an appearance on the television show The View and her staff heavily promoted her initiative to news organizations. She’d break down the six-decade wall between traditional Medicare and long-term care and potentially vastly expand government support for frail older adults and their families. In her television appearance, Harris spoke passionately about being a caregiver for…

The Justice Department announced charges Tuesday against an Afghan national who was allegedly plotting a terrorist attack in support of ISIS on Election Day in the United States. The FBI arrested 27-year-old Nasir Ahmad Tawhedi in Oklahoma on Monday after he purchased rifles and ammunition from an undercover law enforcement officer. He is facing several charges, including conspiring and attempting to provide material support to ISIS. Partnering with an unnamed juvenile, Tawhedi planned to liquidate his assets, repatriate his family to Afghanistan, purchase assault rifles and “stage a violent attack” in the US, court documents say. The juvenile has also been arrested, according to court documents. The…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Brazil’s supreme court on Tuesday authorised the restoration of public access to Elon Musk’s X following a month-long ban, after the billionaire backed down in his feud with the top tribunal and agreed to remove extremist content from the social media platform.The climbdown represents an about-face for Musk, who for months had taunted the court, accusing Justice Alexandre de Moraes of being a “dictator” for demanding that X remove accounts linked to far-right groups in Brazil.“This quarrel with X demonstrated that no…

IDT Corporation (NYSE:IDT) Q4 2024 Earnings Conference Call October 8, 2024 5:30 PM ET Company Participants Shmuel Jonas – Chief Executive OfficerMarcelo Fischer – Chief Financial Officer Conference Call Participants Greg McKinley – Asymmetric Management Operator Good evening, and welcome to the IDT Corporation’s Fourth Quarter and Full Fiscal Year 2024 Earnings Call. In today’s presentation, IDT’s management will discuss IDT’s financial and operational results for the three- and 12-month periods ended July 31, 2024. During prepared remarks by IDT’s Chief Executive Officer, Shmuel Jonas, all participants will be in listen-only mode. [Operator Instructions] After Mr. Jonas’ remarks, Marcelo Fischer,…

The window for a final 2024 presidential debate between former President Donald Trump and Vice President Kamala Harris is closing. CNN has publicly offered to host a debate in Atlanta on October 23. Harris has accepted the invitation and welcomed the chance to debate Trump again, but Trump has rejected her calls. On Tuesday, CNN stepped up the pressure by writing to both campaigns and setting a Thursday deadline for a formal response. Debates, after all, can’t be produced overnight; the events take time to organize. “CNN sent invitations on September 21 to both Vice President Harris and former President Trump’s campaigns to participate in…

Shares of Trump Media surged nearly 19% on Tuesday, putting the Truth Social operator on track for its fourth straight day of gains — its longest positive price streak since June.DJT shares at one point jumped to $22 in extremely heavy trading, nearly 90% higher than the company’s intraday low of $11.75 per share on Sept. 24. Trump Media ended the trading day up 18.5% at $21.80 per share.But the stock price remains well below its peak in late March, when shares hit $79.38 during the company’s trading debut on the Nasdaq.More than 45 million DJT shares were exchanged Tuesday,…

The Federal Aviation Administration may issue SpaceX its next Starship license in time for a Sunday launch attempt, CNBC has learned.SpaceX and its CEO Elon Musk have been vocally critical of the FAA in recent weeks, urging the federal regulator to speed up its license review for Starship’s fifth test flight. As recently as last week, the FAA said it did not expect to issue the license before “late November.”Despite the ongoing review, SpaceX issued a statement Monday saying that the fifth Starship spaceflight “could launch as soon as October 13, pending regulatory approval.” The company did not indicate whether…

Washington D.C., Denver and Raleigh, North Carolina, are the real estate markets that are projected to see the most substantial changes as the Federal Reserve begins to lower borrowing rates.  According to a new Realtor.com report published Tuesday, markets with a high percentage of homeowners with a mortgage stand to see the most changes. In Washington and Denver, for instance, almost 75% of owner-occupied homes have a mortgage.  But the effect of lower mortgage rates will differ depending on mortgage usage and homeowners in these areas, according to the real estate firm.  FEDERAL RESERVE CUTS INTEREST RATES BY HALF-POINT; FIRST RATE…