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Mobile homes surrounded by flood water after Hurricane Milton made landfall, in St. Petersburg, Florida, U.S. October 10, 2024.Octavio Jones | ReutersIf your home is temporarily uninhabitable after a natural disaster, a provision in your homeowners or renters insurance policy may help you with new lodging and other living expenses.Insured wind and flood damage from Hurricane Helene is estimated to be up to $17.5 billion, according to CoreLogic, a real estate data site. Insured losses from Hurricane Milton could range from $30 billion to $60 billion, per Morningstar DBRS.Homeowners and renters affected by a natural disaster can ask about so-called "loss of use" or "additional living expenses" coverage from their insurance providers, experts say.The provision is meant to help cover reasonabl...

A measure of wholesale prices showed no change in September, pointing to a continued easing in inflation, the Labor Department reported Friday.The producer price index, which measures what producers get for their goods and services, was flat for the month and up 1.8% from a year ago. Economists surveyed by Dow Jones had been looking for a monthly gain of 0.1% after August's increase of 0.2%.Excluding food and energy, the PPI rose 0.2%, meeting expectations, and was up 2.8% from a year ago.The report comes a day after the Labor Department reported that the consumer price index, a more widely followed inflation measure that shows what consumers actually pay for goods and services, had an increase of 0.2% for the month and 2.4% from a year ago.Markets showed little immediate reaction to the d...

Andrew Feldman, co-founder and CEO of Cerebras Systems, speaks at the Collision conference in Toronto on June 20, 2024.Ramsey Cardy | Sportsfile | Collision | Getty ImagesAI chipmaker Cerebras is trying to be the first major venture-backed tech company to go public in the U.S. since April and to capitalize on investors' insatiable demand for Nvidia, now valued at $3.3 trillion.While its position in artificial intelligence infrastructure represents a major tail wind, Cerebras has challenges — most notably a hefty reliance on a single Middle Eastern customer — that may prove too weighty to overcome in the company's attempt to ride the Nvidia wave. Valued at $4 billion in 2021, Cerebras is reportedly seeking to roughly double that in its IPO."There's too much hair on this deal," David Golden,...

Investors who fear stubborn inflation, if not an outright rebound, got a bit of a salve on Friday morning. Wholesale prices showed no change month over month for September, coming in below expectations. The producer price index report may help offset some of the slight concerns about Thursday's consumer price index report, which was a bit hotter than expected. The details within the reports are another reason to stay calm, David Seif, chief economist for developed markets at Nomura Securities, said on " Squawk Box ." "The key thing for the Fed is their preferred measure of inflation, core PCE. And when you actually look at the components of yesterday's print and just looking over today's PPI print that go into that core PCE, it actually looks pretty good," Seif said. The personal consumpti...

Here are the biggest calls on Wall Street on Friday: Bank of America reiterates Broadcom as buy Bank of America says the that Broadcom remains a top pick at the firm following a series of investor meetings. "As expected, the meeting focused on AVGO's growing AI opportunity, around $12bn or 24% of sales in FY24, with a longer-term TAM [total addressable market] of $100-$125bn, focused largely on growing internal workloads." UBS reiterates Advanced Micro Devices as buy UBS called AMD's AI event on Thursday a "mixed bag" but says it's sticking with the stock. "AMD's AI event was, in our view, a bit of a mixed bag that doesn't likely sway the debate a whole lot in either direction." Wells Fargo upgrades Affirm to overweight from equal weight Wells called the fintech payment company a "structur...

(This is CNBC Pro's live coverage of Thursday's analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) Goldman getting more bullish Nvidia was the call of Friday morning so far. Morgan Stanley was also positive on Elli Lilly ahead of earnings while JPMorgan Chase upgraded Ferrari and Bank of America raised its price target for Kinder Morgan. Check out the latest calls and chatter below. All times ET. 7:12 a.m. Bank of America upgrades gas pipe stock on AI demand Energy infrastructure company Kinder Morgan is an artificial intelligence beneficiary, according to Bank of America. Analyst Neel Mitra upgraded shares to buy from neutral. He also raised his price target to $27 from $23, implying nearly 14% upside potential from Thursday's close. The r...

Tesla unveils its "Cybercab" on October 10, 2024 in Burbank, California.Shares of electric vehicle maker Tesla tumbled Friday after the company's long-awaited robotaxi event — where CEO Elon Musk unveiled the firm's Cybercab self-driving concept car — failed to impress investors.Tesla stock was down 5.7% as of 5:20 a.m. ET in premarket trading on Friday.Musk revealed Tesla's Cybercab concept vehicle — a low, silver two-seater, has no steering wheels or pedals — on Thursday night. The plan is for the car to be capable of driving itself autonomously when it launches.The Tesla boss said the company hopes to be producing the Cybercab before 2027, but offered no details on where the cars will be manufactured. He said consumers would be able to buy a Tesla Cybercab for a price tag under $30,000....

The Norwegian Nobel Institute is pictured in Oslo, Norway on September 25, 2024.Jonathan Nackstrand | Afp | Getty ImagesJapanese atomic bomb survivor organization Nihon Hidankyo won the Nobel Peace Prize on Friday in recognition of the organization's efforts to achieve a world free of nuclear weapons."This grassroots movement of atomic bomb survivors from Hiroshima and Nagasaki, also known as Hibakusha, is receiving the peace prize for its efforts to achieve a world free of nuclear weapons and for demonstrating through witness testimony that nuclear weapons must never be used again," the Norwegian Nobel Committee said in a statement.The Norwegian Nobel Institute said 286 candidates were registered to be considered for this year's prize, of which 197 were individuals and 89 were organizatio...

Zahra Bahrololoumi, CEO of U.K. and Ireland at Salesforce, speaking during the company's annual Dreamforce conference in San Francisco, California, on Sept. 17, 2024.David Paul Morris | Bloomberg | Getty ImagesLONDON — The UK chief executive of Salesforce wants the Labor government to regulate artificial intelligence — but says it's important that policymakers don't tar all technology companies developing AI systems with the same brush.Speaking to CNBC in London, Zahra Bahrololoumi, CEO of UK and Ireland at Salesforce, said the American enterprise software giant takes all legislation "seriously." However, she added that any British proposals aimed at regulating AI should be "proportional and tailored."Bahrololoumi noted that there's a difference between companies developing consumer-facing...

Danish biotech Zealand Pharma is targeting the "next generation" of weight loss drugs as competitors pile into a market dominated by heavyweights Novo Nordisk and Eli Lilly.CEO Adam Steensberg told CNBC Thursday that early-stage trials of its experimental obesity injection point to higher-quality weight loss — with reduced muscle loss and fewer side effects — versus traditional GLP-1 treatments. The company is now scouting for a global pharma firm to partner with, he added."Our focus is really what's needed in the 2030s, and it's really about establishing, you can say, the next-generation molecules that are not based on GLP-1s," Steensberg said.Last month, Zealand Pharma announced positive top-line results from a phase 1b trial of its weight-loss drug, a GLP-1/GLP-2 receptor dual agonist c...