ALERT: INVASION OF GAZA? EVACUATION HAS STARTED

And thank you so much for joining me here today. Wall Street's main indexes closed lower on Thursday after a U.S. Treasury auction sent bond yields higher. While investors were already digesting data that showed consumer prices rose more than anticipated in September. Here's more. Wall Street's main indexes fell on Thursday as bond yields rose after data showed consumer prices increased more than anticipated in September, clouding the Federal Reserve's interest rate outlook. The Dow dropped half of 1%, while the S&P 500 and NASDAQ slid about 6 tenths each. U.S. 10-year yields hit a session high above 4.7% after a U.S. Treasury auction. Will Ryan, CEO of ETF company GraniteShares, said he is paying close attention to the moves. Clearly what has sort of stalled the stock market rally, at least over the last few weeks, has been rising yields. And I think that the rising yields has been something that clearly is, you know, first and foremost, or front and center of investors' minds, given that, you know, the interest rate, right, the interest rate hikes that we've seen, you know, have been very high. But obviously the further or the higher that rates go from here, the more chance there is of something breaking in the system and a recession or something deeper happening. A surprise jump in rental costs pushed consumer prices higher last month, while the annual increase in the core figure, which excludes volatile food and energy components, was the smallest in two years. Traders now see a stronger chance the Fed might end up delivering another interest rate hike this year after looking at Thursday's data. Stocks on the move included Fastenal. Shares of the industrial supplies company rose nearly 8% after it topped earnings expectations. And shares of Ford lost 2% after the United Auto Workers Union expanded its strike at the company's biggest and most profitable factory. The focus shifts to earnings Friday as big banks, including JPMorgan Chase and Wells Fargo, report quarterly results before the opening bell. And now some quick updates to the Mideast conflict. Israel's military has directed residents in Gaza City to evacuate to southern Gaza by Saturday. United Nation officials in Gaza say Israel's military informed them late last night, just before midnight local time. The Hamas terrorist media office reacted by urging citizens to ignore the relocation warning, labeling it false propaganda. This is as Israeli airstrikes and its siege of Gaza continue. 300,000 Israeli troops are preparing near the border for a potential ground assault. NTD's Jeremy Sandberg has more on Israel's 24-hour warning and the response to it. Gaza City. Israel Defense Forces spokesperson, Jonathan Kanreka's Friday morning, said the IDF is taking humanitarian steps to minimize civilian casualties as the war unfolds. Civilians of Gaza City, evacuate south for your own safety and the safety of your families and distance yourself from Hamas terrorists who are using you as human shields. The message sent in Arabic to the local population in Gaza City set a deadline for Saturday. Kanreka says significant combat operations there are ongoing. And we are preparing for future and the continuance of our combat operations and out of an understanding that there are civilians here whom are not our enemy and we do not want to target them. We are asking them to evacuate so that we will be able to continue to strike military targets belonging to Hamas in the Gaza Strip. Gaza's Hamas terrorist rulers responded to the relocation warning by calling on Palestinians to remain in their homes and stand firm. He labeled the evacuation notice as an attempt to broadcast fake propaganda aimed at sowing confusion and harming internal cohesion. United Nations Secretary General spokesperson, Staffan Dujarric, responded to Israel's warning asking them to cancel it. He said in his statement the UN considers it impossible for such a movement to take place without devastating humanitarian consequences and that it could transform what is already a tragedy into a calamitous situation. Dujarric noted 1.1 million Palestinians, nearly half of Gaza's population would be affected and that includes UN staff and those sheltered in UN schools, health centers and clinics. Israel's UN ambassador, Gilad Erdan, rebuked the UN response calling it shameful and a disgrace. He says the UN has turned a blind eye to the arming of Hamas and its use of civilian populations and infrastructure and that it would be better for the UN to focus on returning hostages, condemning Hamas and supporting Israel's right to defend itself. Jeremy Sandberg, NTD News. So what exactly is Hamas? NTD's Daniel Monahan has some background information on the terrorist organization. Hamas has been designated a terrorist organization by countries around the world, including the US, the EU, the United Kingdom, Australia and Canada. It was created by Ahmed Yassin and six other Muslims in 1987. It is an offshoot of the Muslim Brotherhood, an extremist organization that has expressed hostility towards Israel and the West. Hamas stands for Islamic Resistance Movement. The National Counterterrorism Center says it has between 20 and 25,000 members. Terrorist members wear a green headband and the group has both a military as well as a political unit. Hamas's charter calls for the Jewish state to be wiped off the map. Hamas took power in Gaza in 2006 after winning an election that has been contested for its lack of integrity. The terror group is known for using civilian centers in Gaza, including hospitals and schools, to launch rockets into Israel. It also uses civilians as human shields when targeted by Israeli forces. Hamas is known to receive financial and other support from Iran, a state sponsor of terrorism. The Wall Street Journal also reported on October 8th that Iran helped Hamas plan the attacks and gave it the green light to execute them. According to a Foundation for Defense of Democracies report, Iran has built a network of at least 19 armed groups on Israel's borders. The biggest ones are Hamas and Islamic Jihad, based in Gaza, and Hezbollah, based in Lebanon. These groups and others receive funding, training, and weapons from Iran's Islamic Revolutionary Guard Corps. Qatar is also accused of being a major supporter of Hamas, and that's where Hamas's leader, Ismail Haniyeh, currently resides. Qatar denies these allegations. Daniel Monahan, NTD News. And now some updates to the UAW strike. Sean Fain, earlier this morning, said that they're entering a new phase of strikes. He says that potential expansions of future strikes are not limited to Fridays anymore. He said the strikes could happen at any time. Meanwhile, a senior Ford executive said Thursday the automaker is at the limit of what it can spend on higher wages and benefits for the United Auto Workers, and warned that the union strike at the company's most profitable factory could harm workers and slash profits. Here's the story. On Thursday, a senior Ford executive said Ford was at the limit of what it could offer on pay, though it could still reallocate money within its current offer in further bargaining. Ford says the Kentucky stoppage could push its supply chain towards collapse, and it says the strike may just slash profits and end up harming workers. But UAW boss Sean Fain insists Ford and other big automakers can do better than the current offer of pay rises of up to 23%. Our strike is working, but we're not there yet. He's expected to make new comments in a video address on Friday afternoon. In recent weeks, he's often announced new walkouts at that time. Last week, he said the union could target a General Motors plant in Texas that makes some of the firm's high-end SUVs. Potential targets at Chrysler parent Stellantis include plants making its Ram pickup trucks. Sean Fain's announcement earlier today comes after Wednesday when more than 8,500 members of the United Auto Workers went on strike at Ford's biggest plant in Kentucky, and it's dealing a possible blow to the company's full-year profits. Take a look. In a surprise move, the United Auto Workers expended their strikes among the big three automakers by shutting down Ford's biggest plant on Wednesday. That move could cut into the company's full-year profits. The union said more than 8,500 people at Ford's Kentucky truck plant went on strike after the company refused to move further in contract bargaining. The plant generates $25 billion in annual revenue, making up about one-sixth of Ford's global automotive earnings. A Ford official said the company and the UAW have been working to resolve differences on retirement security and union representation at the company's future electric car battery plants. Meanwhile, a union source said the UAW had been expecting an improved proposal from Ford for the last two weeks. However, the company brought an unchanged offer on Wednesday, triggering the latest walkout. The strike also serves as a warning to General Motors and Stellantis, the other top industry players, whose wages and benefits offers fall short of Ford's. Sources told Reuters that Stellantis and UAW are slated to have another major round of bargaining on Thursday. Wednesday brings the total number of assembly plants the union has ordered strikes at to six, affecting Ford, GM, and Stellantis. And senior citizens, listen up. It's possible that a smaller boost to Social Security next year may be coming. The Social Security Administration announced on Thursday that recipients will receive an annual cost of living adjustment of 3.2% for 2024. That means the monthly payments will rise by an average of $59 beginning in January. It's a much smaller increase than the inflation-fueled boost of the past two years. Recipients received increases of 8.7% for this year and 5.9% for last year. And U.S. consumer prices rose in September as rental costs surged, but a steady moderation in underlying inflation pressures supported financial markets' expectations that the Federal Reserve would not raise interest rates next month. Here's the report. U.S. consumer prices rose in September as rental costs surged, according to a report from the Labor Department Thursday. However, a steady moderation in underlying inflation pressures supported financial market expectations that the Federal Reserve would not raise interest rates next month. The annual increase in consumer prices, excluding food and energy last month, was the smallest in two years. But with the labor market remaining tight, reaching the Fed's 2% inflation target could still take some time. That makes it likely the U.S. Central Bank could keep rates elevated for longer. Higher U.S. Treasury yields and conflict in the Middle East are also seen as discouraging the Fed from tightening monetary policy further. The consumer price index increased 0.4% last month, with a jump in the cost of shelter accounting for more than half the rise. In the 12 months through September, the CPI advanced 3.7% after rising by the same margin in August. Year-on-year consumer prices have come down from a peak of 9.1% in June 2022. The annual rate excluding food and energy, known as Core CPI, was a bit higher at 4.1% in September. But that was the smallest annual increase since September of 2021. Financial markets overwhelmingly anticipate the Fed will leave rates unchanged when it releases its decision next month, according to the CME Group's FedWatch tool. And mortgage rates are up for the fifth straight week, according to Freddie Mac. The 30-year fixed-rate mortgage now averages 7.57%. That's a rise from 7.49% the prior week. Mortgage rates haven't been this high since December of 2000. Just one year ago, the 30-year fixed rate was 6.92%. While the economy and incomes continue to grow, there are affordability constraints due to a lack of homes for sale keeping prices higher. Now, here's a question. Do you know how long you will live after you retire? Well, a survey recently suggests that many don't, especially men. And as a result, they may be ill-prepared for retirement. Researchers at the TIAA Institute and the Global Financial Literacy Excellence Center surveyed more than 3,500 adults. They were asked how long will a 65-year-old live on average in the U.S.? And according to the survey, only one-third of men gave the right answer, which was 19 more years for men. That is compared to 36% of women who correctly answered that a woman can expect to live about 22 more years. The survey also showed that more men underestimated the lifespan when compared to women. Experts say that when it comes to retirement savings, you should plan to live a longer life. And ExxonMobil will buy its U.S. rival Pioneer Natural Resources in an all-stock deal valued at $59 billion. And that would make it the biggest producer in the largest U.S. oil field. Here's the latest. Exxon agreed on Wednesday to buy U.S. rival Pioneer in a nearly $60 billion deal, making the supermajor a giant in the U.S. shale oil industry. It's Exxon's biggest deal since its $81 billion purchase of Mobil Oil in 1998. The companies said on Wednesday they had sealed an all-stock deal, valuing Pioneer at $253 a share. Pioneer has been one of the most successful oil companies to emerge from the shale revolution, which turned the U.S. from a major oil importer into the world's largest producer in little more than a decade. This deal will leave four of the largest U.S. oil companies in control of much of the highly valued Permian Basin shale field. According to analysts, Pioneer is the Permian's largest operator, placing Exxon in the most dominant position. In the last two years, Exxon has pulled itself out of a period marked by deep losses and huge debts. It slashed costs, sold dozens of assets, and benefited from high energy prices spurred by Russia's invasion of Ukraine. The oil giant's share price has recovered strongly since its early 2020 tumble to about $30 when oil and gas prices collapsed. Exxon shares recently hit an all-time high of $120 per share. And now onto Microsoft. Britain's antitrust regulator on Friday cleared Microsoft's acquisition of Call of Duty maker Activision Blizzard after the restructured deal addressed its earlier concerns. Here's the latest on that. Britain's antitrust regulator on Friday cleared Microsoft's acquisition of Call of Duty maker Activision. That's after the restructured deal addressed the agency's earlier concerns. Activision in August agreed to sell its streaming rights to Ubisoft Entertainment. And last month, Microsoft offered remedies to ensure the terms of the sale were enforceable by the regulator. The Competition and Markets Authority said Microsoft's concession on streaming was a game changer and added that it was the only competition agency globally to have delivered this outcome. The approval paves the way for the US computing giant to close the biggest gaming deal in history by October the 18th. That was after it extended the deadline by three months in July to secure UK approval. The deal was originally blocked in April by the CMA over fears Microsoft would gain too much control of the cloud gaming market. The tech firm said it had crossed the final regulatory hurdle and was grateful for the CMA's thorough review and decision. And it seems like contract talks between Hollywood studios and actors and writers were suspended on Wednesday as the two sides clashed over streaming revenue, the use of artificial intelligence and other issues at the core of the three-month work stoppage. Take a look. Negotiations between the SAG-AFTRA Actors Union and Hollywood Studios broke down on Wednesday. The two sides clashed over streaming revenue, the use of artificial intelligence, and other issues. The three-month work stoppage, which has put most US-based film and television productions on hold, has cost the California economy billions and left thousands of crew members out of work. The union resumed negotiations with studios last week after the Writers Guild of America ended its work stoppage. But the Alliance of Motion Picture and Television Producers, or AMPTP, said talks were suspended once it reviewed the most recent union proposal. In a statement, the group, which represents Netflix, Walt Disney, and other media companies, said, quote, "'It is clear that the gap between the AMPTP and SAG-AFTRA is too great,' and conversations are no longer moving us in a productive direction." In a letter to members issued early Thursday, SAG-AFTRA said it had negotiated in good faith with studios, quote, "'despite the fact that last week they presented an offer that was shockingly worth less than they proposed before the strike began.' One issue of contention is SAG-AFTRA's demand for a share of streaming revenue to be delivered as a bonus to cast members. The AMPTP put the proposal at a cost of $800 billion, a figure SAG-AFTRA says is overstated by 60%. The union also said studios, quote, "'refused to protect performers from being replaced by AI.'" The AMPTP said it had promised to obtain actors' consent before using any digital replicas of their likenesses. And Japan's fast-retailing owner of clothing brand Uniqlo reported on Thursday that full-year operating profit was 28%, reaching its second consecutive record, aided by a post-pandemic recovery in China, and the yen's slide. Take a look. Profits have hit a second straight record at Uniqlo owner Fast Retailing. The Japanese firm said Thursday that full-year operating profit jumped 28% to over $2.5 billion. That was better than analysts had forecast. The clothing chain was boosted by a recovery in demand in China after lockdowns were lifted. Uniqlo has 930 stores in the country, making it a bellwether for retailers operating there. A weaker yen also helped. Japan's currency is down around 12% versus the dollar this year, boosting the value of the firm's earnings overseas. Now the company known for its inexpensive basics is predicting another record over the coming fiscal year. Fast Retailing was founded by Tadashi Yanai, Japan's richest man. He still owns close to a fifth of the company's stock, with Forbes valuing his family's net worth at around $34 billion. And in a tearful second day of testimony by a key witness at the FTX fraud trial, Caroline Ellison said the cryptocurrency exchange's ultimate collapse brought her relief, saying it was because she no longer had to lie for the company. Here's more on what she said. A key witness in the trial of FTX founder Sam Bankman-Fried said in court on Wednesday she had been terrified the truth would come out about the cryptocurrency exchange's problems. Caroline Ellison testified that, in the end, its collapse in late 2022 brought her an overwhelming feeling of relief. Ellison is the former chief executive of Bankman-Fried's crypto hedge fund Alameda Research. She was also his confidant and sometime romantic partner. On Wednesday, she said that Bankman-Fried directed her to falsify Alameda's balance sheets. The aim was to keep lenders at bay as cryptocurrency markets hit a downturn in 2022. Tearing up as she described the final days before FTX declared bankruptcy, Ellison said she felt indescribably bad about the harm caused to FTX customers and employees. But, she added, its collapse lifted the dread hanging over her, saying, quote, I felt a sense of relief that I didn't have to lie anymore. She told the court her former boss described himself as a utilitarian and said he didn't think rules like don't lie or don't steal fit into that framework. Prosecutors accused Bankman-Fried of plundering billions in FTX customer funds to prop up Alameda, buy real estate, and donate more than $100 million to US political campaigns. He has pleaded not guilty to seven counts of fraud and conspiracy. Ellison, meanwhile, has pleaded guilty to fraud charges and agreed to cooperate with the prosecution. On Wednesday, Ellison also testified that Bankman-Fried had suggested boosting FTX's market share by getting regulators to crack down on rival crypto exchange Binance. She said watchdogs had promised Bankman-Fried that a Binance crackdown was coming, but did not elaborate. The US Securities and Exchange Commission sued Binance and its founder in June, 2023, alleging that they commingled and diverted customer funds. Binance and its founder have denied those allegations. The Biden administration took another shot at unpopular junk fees on Wednesday by proposing that businesses be required to disclose mandatory fees upfront and instructing banks not to impose excessive charges for basic information such as account balances. Here's a look. With an eye on 2024, President Joe Biden took new steps to crack down on junk fees. Hidden costs added to purchases like airline and concert tickets, hotels, and car rentals. These junk fees can add up hundreds of dollars weighing down family budgets, making it harder to pay family bills. On Wednesday, Biden proposed a rule that would require businesses to disclose mandatory fees upfront. Fees the Federal Trade Commission estimates cost consumers tens of billions of dollars annually. If this proposed rule is finalized as proposed, the FTC would have the power to impose financial penalties on companies that don't disclose their full upfront price and secure refunds for customers who have been defrauded by companies charging hidden fees. The plan also includes instructions to banks not to impose excessive charges for basic information such as account balances. The battle against junk fees is part of Biden's effort to ease strains on voter pocketbooks as an election year approaches and as Republicans hammer him on inflation in the state of the economy. Taking on junk fees gives Biden fodder to show his administration is helping people tackle a high cost of living in the U.S. The Biden administration has previously proposed a rule to require airlines to disclose fees upfront. And finally, good news if you're in the market for an electric car because a proposed new rule would give tax incentives more quickly upfront and to a wider range of consumers. So what do those discounts look like and which cars would be included? Here's a closer look. Driving off the lot in an electric car could soon get easier and cheaper. The Treasury Department is proposing a rule that would allow car buyers to get a tax credit of up to $7,500 for new electric vehicles and a credit of up to $4,000 for used EVs straight off the lot. We're all in for EVs and dealers are essential to making that transition a success. Under the new rule, all eligible consumers, no matter their federal tax liability, would get a full tax discount upfront and instantly from car dealers starting in 2024 instead of waiting for next year's tax season. Right now, that's not the case. Consumers whose tax liability is too low may get a reduced credit or not qualify at all. Energy experts say the move would benefit low and middle income drivers who may now have a chance to buy a car but say more needs to be done to make EVs more accessible. To make everyone benefit from electric cars, we will need more incentives, more infrastructure. To be eligible for tax credits, buyers would have to meet the individual requirements, including using the purchased electric vehicle for personal use, not being independent on anyone's taxes, and being under the income limit. It comes as the Biden administration aims to drive up electric car production in the U.S. What do you think, Mr. President? I like it. Back in August, the Energy Department announced $12 billion in grants and loans to ensure two-thirds of all new cars sold in the U.S. by 2032 are electric. And that's all for today. Thank you for watching NTD Business and we'll see you next week.