Markets Insider

JPMorgan's David Kelly says the Fed should have never kept rates high for so long, and now needs to do more to show it remains confident about the economy.

What the Fed must do to soothe markets after a historic global sell-off, according to JPMorgan strategy chief David Kelly

Business Insider

These are today's mortgage and refinance rates. Mortgage rates dropped in response to cooler labor market data, including an increase in unemployment.

Mortgage Interest Rates Today, August 5, 2024 | Rates Down as Multiple Fed Cuts Look More Likely

Goldman Sachs estimates that for every additional 10% drop in the stock market, US GDP growth would be reduced by 45 basis points over the next year.

Why the Fed does have to worry about the stock market's impact on the economy, according to Goldman Sachs

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California State

Local officials and advocates in California are divided over Gov. Gavin Newsom's recent executive order requiring state agencies to remove homeless encampments on public property, leaving the homeless community caught in the middle and uncertain where they will go. In June, the Supreme Court ruled that punishing homeless people for...

'It’s mayhem and craziness': Californians react to Gavin Newsom’s order to remove homeless encampments

A "record-breaking backlog" of pending actions has led to an estimated $1.1 billion in improper beneficiary payments, according to a new report. Experts say the Social Security Administration needs more funding in its budget to properly address a "customer service crisis." The Social Security Administration faces a "record-breaking backlog" of...

'Record-breaking backlog' leads to $1.1 billion in improper Social Security payments, report finds

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NewsNinja

"They accidentally gave us 2 washers and a dryer when we only ordered 1 of each". Last month, Lowe’s experienced a glitch that lowered the price of its $2,300 Midea jumbo capacity refrigerator to just $169.

‘Lowe’s messed up’: Shopper says they got $2,300 fridge at Lowe’s for just $169

Wells Fargo has appointed Bridget Engle as senior executive vice president and head of technology, reporting to CEO Charlie Scharf. Joining the company’s operating committee on 12 August, Engle will be responsible for all technology across the company. She brings more than 30 years of experience leading technology transformations...

Wells Fargo selects Engle to head technology

One Walmart shopper is issuing a warning against buying meat at the massive retail chain—but the reason why isn’t strictly tied to Walmart. It seems that customers at stores such as Walmart believe it's acceptable to grab perishable items, such as meat or dairy, and then place them on any available shelf if they decide they no longer want them.

Walmart customer shares why they will never shop for meat at the store leaving viewers torn

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Mississippi State

If you prefer hiking the Appalachian Mountains over lounging on coastal beaches, this year's least-expensive state to retire may be a good fit for you. For the second year in a row, West Virginia is the most affordable state for retirement in the U.S., according to financial services company Bankrate's best and worst states for retirement report, which published last month.

The 10 most affordable U.S. states for retirement in 2024: Half are in the South

Reuters

NEW YORK (Reuters) - Sharpie pen maker Newell Brands is moving some production of kitchen appliances out of China and has relocated manufacturing for its writing business to Tennessee as it faces "uncertainty" on tariffs ahead of the U.S. presidential election, Newell CEO Chris Peterson said in an interview with Reuters.

Sharpie-maker Newell moves more operations from China as tariffs loom

Oliver Chen, TD Cowen senior retail analyst, joins 'Squawk Box' to discuss key retail earnings from Walmart and Home Depot this week, what to expect from the retail giants, state of the consumer, and more.

We are in a consumer discretionary recession, says TD Cowen's Oliver Chen

The foods in your daily diet play a major role in how healthy you are and how long a life you live. In fact, one of the key practices of people living in blue zones is eating a diet of mostly plant-based foods of fruits, vegetables and nuts. In past...

100-year-olds share what they always eat—and what they never do: 'I don't drink soda at all'

Editor's Note: APYs listed in this article are up-to-date as of the time of publication. They may fluctuate (up or down) as the Fed rate changes. CNBC Select will update as changes are made public. If you have a long-term savings goal, like saving up for a down payment on...

Best 5-year CD rates of August 2024 (up to 4.75% APY)

Economists surveyed by Dow Jones expect the consumer price index, to be released Wednesday at 8:30 a.m. ET, to show 0.2% increases on both the all-items reading and the core measurement. A positive CPI reading could mean the Federal Reserve is able to turn its gaze to other economic challenges,...

Wednesday's big CPI inflation report could mark a change in thinking for the Fed

General Motors on Monday revealed redesigned versions of its entry-level GMC Terrain crossover, including a new standard "Elevation" model. The vehicle features a more rugged exterior design as well as a new interior with 26 inches of standard information and control screens. The Terrain is typically one of the bestselling...

GM reveals redesigned GMC Terrain as brand's entry-level model

Former National Economic Council director Brian Deese is advising Vice President Kamala Harris on economic policy. Deese is among a small group of advisors helping Harris and her team. Deese previously worked as President Joe Biden's National Economic Council director. Economist Brian Deese has begun advising Vice President Kamala Harris...

Harris economic policy draws on Biden White House alums Brian Deese, Mike Pyle

People are leaving New Zealand in record numbers as unemployment rises, interest rates remain high and economic growth is anemic, government statistics show. Data released by Statistics New Zealand on Tuesday showed that 131,200 people departed New Zealand in the year ended June 2024, provisionally the highest on record for an annual period. Around a third of these were headed to Australia.

People leave New Zealand in record numbers as economy bites

Trade groups say Chinese electric vehicles pose an "existential threat" to the U.S. auto industry. China currently makes about one out of every three of the world's new vehicles, and it has the capacity to make even more, according to research firm Dunne Insights. But faced with a growing preference for hybrids at home and a brutal price war, Chinese automakers want to export more vehicles abroad.

We drove Chinese EVs to see why rival automakers are worried

Gold prices rose by more than 1% on Monday to hit the highest since Aug. 2, driven by safe-haven inflows as traders awaited U.S. inflation data this week that could shed more light on the Federal Reserve's interest rate cut path. Spot gold rose over 1% to $2,458.25 per ounce...

Safe-haven demand lifts gold to highest in 10 days; U.S. data in focus

CNBC's Deirdre Bosa joins 'The Exchange' to discuss the latest developments happening in technology.

Google AI & device event underway: Here's what to know

NewsBreak

Blackstone President Jon Gray on the economy, Fed's rate path outlook and data centers

Blackstone President and COO Jon Gray joins 'Squawk on the...

Blackstone President Jon Gray on the economy, Fed's rate path outlook and data centers

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