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Joined February 2009
As home prices rise and mortgage interest rates spike, many parents want to help children buy their first property. And there are several tax-friendly ways to do it, according to financial experts. In 2026, 40% of homeowners said they received financial help with a home down payment, up from 35% in 2023, according to a LendingTree survey that polled about 2,000 consumers in March. The rate is even higher among younger homeowners, with 78% of Gen Zers and 56% of millennials getting assistance. More: cnb.cx/4z47F4L
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Moderna shares dropped as much as 25% on Thursday following the leak of partial data on its closely watched cancer vaccine developed with Merck. Shares of both drugmakers fell even though the full data, released later Thursday following the leak, appeared meaningful for patients and positive relative to Wall Street expectations. cnb.cx/4i9eZoj
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Elon Musk’s latest clash with Ukraine underscores the critical role that his company’s Starlink satellite internet service has played in Kyiv’s defense against Russia, which invaded unprovoked in 2022. It’s also laid bare the downsides of depending on a single provider for satellite internet communications, though other options are not yet comparable to SpaceX’s Starlink and its military-grade Starshield offering. Read the full story: cnb.cx/4yGqaeH
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Pershing Square CEO Bill Ackman reiterated his bullish stance on Fannie Mae and Freddie Mac, of which he is large shareholder in. “These stocks will go up tenfold. and that’s you know, that’s the most asymmetric investment I’m aware of in the stock market,” Ackman told CNBC’s “Squawk on the Street” on Thursday. “These entities have fully rebuilt their capital. What’s not, I think, well understood is Fannie and Freddie today have five times the capital they had historically.” Watch the full interview: cnb.cx/4BldcoT
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Employers continue to hold onto workers even as hiring remains weak, sending weekly jobless claims to around their lowest levels in records that stretch back nearly six decades. Initial filings for unemployment insurance slipped to a seasonally adjusted 194,000 for the week ending Oct. 17, the Labor Department reported Thursday. More details: cnb.cx/3W2XGhs
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Moderna shares dropped on Thursday following the leak of partial data on its closely watched cancer vaccine developed with Merck. Read more: cnb.cx/4i4eags
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Walmart announced a new joint membership combining its namesake chain and its subsidiary Sam’s Club, as the retailer leans further into convenience and value to win over cash-strapped shoppers. The membership, which combines Walmart+ and Sam’s Club Plus, will cost $120 per year, according to the company. That price is nearly $100 less than buying individual annual memberships to each retailer, though there is no monthly payment option for the new deal. Both stores will continue to offer standalone options. More details: cnb.cx/4z734Pk
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BREAKING: 10-year Treasury yield dips below 5% to lowest level in nearly a month
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With less than two weeks to go before the congressional elections, Americans are nearly as gloomy about the economy as they were when the nation was emerging from the pandemic, and President Donald Trump’s economic approval rating is hitting an all-time low, according to the latest CNBC All-America Economic Survey. Eight out of 10 Americans rate the economy as fair or poor, the highest number since December 2023 and one of several ominous signs for Republicans in the new polling data released Thursday that show why their candidates are facing an uphill battle in the midterm. Find more survey results: cnb.cx/47yQjRw
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