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It aligned with the life-changing money advice he received from a boss in his early 20s. The stock market: from tech stocks to low-cost index fundsCooper's investment strategy has evolved over the years. AdvertisementTo lower his risk, "I am in the process of transitioning my portfolio to mostly low-cost index funds, which are very popular among the FI community." "They're all paid off and bring in about $65,000 a year in rent," he said, adding that they played an important role in his early retirement. Advertisement"I think the easier route is to invest in low-cost index funds," he said, noting that the playbook is much simpler.
Persons: , Eric Cooper, I'd, Cooper, Cooper's, Roth Organizations: Service, Business, Roth IRA, FI Locations: Louisville, Egypt
This episode contains explicit language. Michael Cohen, Donald J. Trump’s former lawyer and fixer, took the stand in the former president’s hush money trial. Jonah E. Bromwich, a criminal justice reporter, discusses how Mr. Cohen could cause problems for Mr. Trump himself.
Persons: Michael Cohen, Donald J, Trump’s, Jonah E, Cohen, Trump Locations: Bromwich
CNN —A furry pitch invader paused Major League Soccer play on Wednesday as a rogue raccoon ran onto the field during a match between the Philadelphia Union and New York City FC. The athletic critter ran the length of the pitch at Subaru Park in Chester, Pennsylvania, deftly evading capture while sprinting stadium staff tried to apprehend it using a trash can. “We need to find him a ball because he’s moving very well in the center of midfield,” a commentator quipped during the kerfuffle, adding that it was “entertainment of its own kind.”Raquinho the raccoon was eventually captured and later released. Eric Hartline/USA TODAY Sports/ReutersThe match was paused for five minutes as crews tried and eventually succeeded in capturing the animal, dubbed “Raquinha the Raccoon” by MLS. The Union sent out an update saying that the raccoon was “put in good hands” and was safely released.
Persons: , Eric Hartline, , NYCFC, Alonso Martínez, Hannes Wolf Organizations: CNN, Major League Soccer, Philadelphia Union, New York City FC, Subaru, Reuters, MLS, The Union Locations: Chester , Pennsylvania
Read previewReal estate mogul Frank McCourt is the latest person to raise his hand to try to acquire TikTok's US business. Related stories"We thought this was a really fantastic opportunity to accelerate the creation of an alternative internet," McCourt told the Associated Press. McCourt wants to change TikTok's basic business to an open-source model that allows users and creators more control over their data. McCourt told the New York Times that he doesn't want the algorithm. "We doubt very much that China would sell TikTok with the algorithm," McCourt told the Times.
Persons: , Frank McCourt, McCourt, Kirkland, Ellis, TikTok, Forbes, Tim Berners, Lee, TikTok . McCourt, Eric Schmidt, Steven Mnuchin, he's Organizations: Service, Guggenheim Securities, Business, Associated Press, Liberty, Los Angeles Dodgers, Big Tech, New York Times, Times Locations: China
Kathy Hochul of New York waited for Pope Francis in Clementine Hall, an ornate room with marble walls and frescoed ceilings in the Vatican’s papal apartments, her thoughts drifted to her father. Ms. Hochul was last in Rome seven years ago with her father, who was celebrating his 80th birthday. He passed away suddenly in October, while the governor was on another diplomatic trip abroad, visiting Israel. “It was a profound experience for me, sitting there reflecting on my family’s teachings,” Ms. Hochul said on Thursday. It was the second such trip taken by a New York leader in a week: Mayor Eric Adams of New York City met with the pope on Saturday.
Persons: Kathy Hochul, Pope Francis, Clementine Hall, Ms, Hochul, ” Ms, , Eric Adams Organizations: Catholic, New Locations: New, Rome, Israel, Italy, New York, New York City
Despite AT & T 's stock trailing the overall market, analysts from JPMorgan and Wells Fargo think the storied company is well positioned for long-term growth. AT & T dates back to 1876, when Alexander Graham Bell invented the telephone and then founded Bell Telephone Company a year later. Both JPMorgan and Wells Fargo think the firm can continue to grow its wireless business with a steady stream of new customers. The analyst maintains an overweight rating on AT & T stock with a $20 per share price target, implying 15% upside moving forward. In the first-quarter, the company said it reported the lowest level of postpaid customer churn for that time period ever.
Persons: Wells, Sebastiano Petti, Alexander Graham Bell, Petti, Wall, Eric Luebchow Organizations: JPMorgan, Bell Telephone Company, 5G
The Serbian government has approved a contract with Jared Kushner on plans to build a luxury hotel on the site of the former defense ministry in Belgrade, putting him directly into business with a European state as his father-in-law, Donald J. Trump, vies to return to the White House. Mr. Kushner is pursuing the $500 million hotel project in partnership with Richard Grenell. A former Trump administration aide, Mr. Grenell first proposed that U.S. investors attempt to redevelop the long-vacant bombed-out site of the former Yugoslav Ministry of Defense while Mr. Grenell was still a diplomat, serving as a special envoy to the Balkans. The deal, which provoked protests in Belgrade on Thursday, is with an affiliate of Mr. Kushner’s Affinity Partners, the three-year-old, $3 billion investment fund backed by the sovereign wealth fund of Saudi Arabia. “The government of Serbia has chosen a reputable American company as a partner in this venture, which will invest in the revitalization of the former Federal Secretariat for National Defense complex,” a Serbian government official said in a statement released on Wednesday.
Persons: Jared Kushner, Donald J, Trump, vies, Kushner, Richard Grenell, Grenell Organizations: Serbian, Yugoslav Ministry of Defense, Mr, Kushner’s Affinity Partners, Federal Secretariat, National Defense Locations: Belgrade, Balkans, Saudi Arabia, Serbia, American
NATO allies are inching closer to sending troops into Ukraine to train Ukrainian forces, a move that would be another blurring of a previous red line and could draw the United States and Europe more directly into the war. As a result, Ukrainian officials have asked their American and NATO counterparts to help train 150,000 new recruits closer to the front line for faster deployment. So far the United States has said no, but Gen. Charles Q. Brown Jr., the chairman of the Joint Chiefs of Staff, said on Thursday that a NATO deployment of trainers appeared inevitable. For now, he said, an effort inside Ukraine would put “a bunch of NATO trainers at risk” and would most likely mean deciding whether to use precious air defenses to protect the trainers instead of critical Ukrainian infrastructure near the battlefield.
Persons: Charles Q, Brown Jr, “ We’ll, , General Brown Organizations: NATO, Joint Chiefs of Staff Locations: Ukraine, United States, Europe, Russia, Brussels
President Biden has asserted executive privilege to deny House Republicans access to recordings of his interview with a special counsel investigating his handling of government documents, Justice Department officials and the White House counsel said on Thursday. The move is intended to shield Attorney General Merrick B. Garland from prosecution if House Republicans succeed in their effort to hold him in contempt for refusing to turn over audio of Mr. Biden’s conversations with the special counsel, Robert K. Hur. The move is certain to draw the ire of former President Donald J. Trump and his allies, but it is in keeping with the practice of his administration and that of his predecessor, President Barack Obama. The Justice Department cited executive privilege in opting not to pursue charges against two of Mr. Garland’s predecessors when they were held in contempt: Eric H. Holder Jr., a Democrat, in 2012 and William P. Barr, a Republican, in 2020. “It is the longstanding position of the executive branch held by administrations of both parties that an official who asserts the president’s claim of executive privilege cannot be prosecuted for criminal contempt of Congress,” Carlos F. Uriarte, the assistant attorney general for legislative affairs, wrote in a letter to Representative Jim Jordan of Ohio, who leads the House Judiciary Committee, and Representative James R. Comer of Kentucky, who leads the Oversight Committee.
Persons: Biden, General Merrick B, Garland, Robert K, Hur, Donald J, Trump, Barack Obama, Eric H, Holder Jr, William P, Barr, ” Carlos F, Jim Jordan of, James R, Comer Organizations: Justice Department, White, Republicans, The, Democrat, Republican, Committee Locations: Jim Jordan of Ohio, Comer of Kentucky
Now that the S & P 500 and most major stock market indexes are at or near historic highs, expect a raft of earnings and year-end price target revisions for the S & P 500 to be coming. First up with an upward revision was Brian Belski at BMO Capital, who Wednesday raised his year-end S & P target to 5,600 from 5,100. The median price target (half above, half below) is 5,200. Earnings for the rest of the year have been remarkably stable, but the key point is that each quarter is higher and a record for S & P 500 profits: 2024 S & P 500 quarterly earnings estimates Q2: $59.46 (record) Q3: $63.49 (record) Q4: $65.08 (record) Source: LSEG Valuations (roughly 20 times forward S & P 500 earnings) are pricey but not unreasonable given the continuing strength of the economy and the prospects of AI-boosted returns. May: market advance broadens (advance/decline line) S & P 500: near new high S & P Mid Cap: new high S & P Small Cap: highest since Dec.
Persons: Sam Stovall, CFRA, Brian Belski, Belski, Subramanian, Venu Krishna, Goldman Sachs, David Kostin, Ned Davis, Ed Clissold, Oppenheimer, John Stoltzfus, Lori Calvasina, Manish, Nicolaus, Barry Banniester, Jonathan Golub, Chris Harvey, Dubravko, Bujas, Cantor Fitzgerald, Eric Johnson, Scott Chronert, Julian Emanuel, Fundstrat, Tom Lee, Morgan Stanley, Mike Wilson, Hugo Ste, Stovall Organizations: BMO Capital, Wall, of America, Barclays, BMO, RBC, Societe Generale, UBS, Bloomberg, Citigroup, Deutsche Bank, ISI, JPMorgan, Scotiabank, @VX Locations: Wells Fargo, Marie
For two days in Manhattan, Stephanie Gregory Clifford — better known as Stormy Daniels — detailed her connection to former President Donald Trump and alleged sexual encounter with him in 2006. But it matters that the media decided to erroneously describe a grown woman openly discussing an alleged sexual encounter with a grown man as obscene. The words used to characterize Daniels’ testimony evoke a feeling of inherent wrongness or dirtiness — and not on the part of the accused but of the woman who dared to speak up. While the Manhattan criminal case is not directly tied to Trump’s alleged encounter with Daniels, the details of their brief alleged tryst are crucial to the prosecution’s case. In a 2018 interview with CNN’s Anderson Cooper, she described her alleged sexual encounter with Trump as consensual.
Persons: Danielle Campoamor, Stephanie Gregory Clifford —, Stormy Daniels, Donald Trump, Danielle Campoamor Ashley Batz, Daniels, , tawdry, Trump’s, Trump, Jean Carroll, , Eric, , CNN’s Anderson Cooper, I’ve Organizations: NBC, CNN, Republican, Trump, Twitter, Facebook Locations: Manhattan, Nevada,
Three years after Biden administration officials tightened sanctions on a billionaire Israeli mining executive for corrupt business practices in the Democratic Republic of Congo, they have reversed themselves and are offering the executive a deal they hope will bolster the supply of a metal vital to electric vehicles. The plan would allow the executive, Dan Gertler, to sell off his remaining stakes in three giant copper and cobalt mining operations in Congo. Once Mr. Gertler sells his positions, the Biden administration hopes Western-leaning companies will be more willing to invest in Congo, perhaps delivering a greater supply of cobalt to the United States as automakers race to increase domestic production of batteries. But certain State and Treasury Department officials strongly opposed the effort, saying that Mr. Gertler should not be allowed to profit from his deal-making, which the Biden administration earlier argued had cheated the citizens of Congo out of more than $1 billion in mining revenues.
Persons: Dan Gertler, Gertler, Biden Organizations: Biden, Democratic, Treasury Department Locations: Democratic Republic of Congo, Congo, United States
Six Flags stock has ticked up nearly 7% in 2024. The analyst reiterated an overweight rating on the stock as well as a $1,200 per share price target, implying more than 31% upside from Tuesday's close. The analyst has a buy rating on Nvidia with a $1,150 per share price target, or about 26% upside ahead. He also raised his price target on U.S.-listed shares to $5.40 per share from $4.80, though the new forecast calls for a 6% decline over the next year. NIO YTD mountain NIO YTD Lai had downgraded Nio to underweight in February due to slowing sales momentum.
Persons: Chris Woronka, Woronka, Brian Evans, John Vinh doesn't, NVDA, Vinh, Timothy Arcuri, Arcuri, — Brian Evans, Goldman Sachs, Alphabet's, Eric Sheridan, Sheridan, Oppenheimer, Jason Helfstein, GOOG, Helfstein, Brent Thill, Jefferies, Nick Lai, YTD Lai, Fred Imbert, ~$ ( ~$) Organizations: CNBC, JPMorgan, Deutsche Bank downgrades, Flags Entertainment, Deutsche Bank, Fair, Nvidia, Blackwell, UBS, Google, Gemini
Here’s what we know so far about the escaped inmate, as a search involving hundreds of police officers enters its second day. ‘Well known’ to authoritiesMohamed Amra, nicknamed “La Mouche” or “The Fly,” is “very well known” to the French justice system having sustained a total of 13 convictions, according to Paris state prosecutor Laure Beccuau. It is understood that Amra had attempted to escape from Évreux prison two days prior to the ambush. So colleagues moved him to a disciplinary unit.”In an interview on French radio, Amra’s mother said she broke down crying when she heard about the deadly ambush. French Justice Minister Eric Dupond-Moretti told reporters that the incident was the first time a French prison employee has died while working since 1992.
Persons: Mohamed Amra, , Laure Beccuau, Amra, Amra’s, Hugues Vivier, Beccuau, BFMTV, Emmanuel Baudin, , France’s, Christophe Petit Tesson, Gerald Darmanin, Eric Dupond, Moretti, Emmanuel Macron Organizations: CNN, Reuters, France’s RTL, Interpol Locations: Normandy, France, Rouen, Évreux, Paris, Marseilles, Marseille
AdvertisementSo who is Larry Page and how did he get to where he is today? AdvertisementPage and Sergey Brin create GoogleGoogle co-founders Sergey Brin and Larry Page met as students at Stanford. Google's parent company, Alphabet, has developed self-driving cars through Waymo, the company formerly known as the Google Self-Driving Car project. Page's personal lifeGoogle cofounder Larry Page and his wife, the scientist Lucinda Southworth C Flanigan/FilmMagicThroughout it all, Page has kept information about his personal life closely guarded. Life after GoogleGoogle cofounder Larry Page bought Cayo Norte, an island in Puerto Rico.
Persons: , Larry Page, Sergey Brin, Page, Sundar Pichai, Gloria, Carl Page —, Larry, what's, Nikola Tesla, he's, Brin's, BackRub, Brin, Eric Schmidt, Schmidt, Andy Rubin's, he'd, Andrew Kelly, Sergey, Lucinda Southworth C, Lucinda Southworth, Richard Branson, Page's, Carl Victor Page, Carl Page, He's, Hugh Langley Organizations: Service, Google, Business, Michigan State University . Education, Getty, Michigan State University, The, Montessori, Google Google, Stanford, Associated Press, University of Michigan, Labs, Reuters Page, Virgin Group, Investments, Carl Victor Page Memorial Foundation, Zee Aero, Pacific, Virgin Island, Atomic Locations: Michigan, Waymo, Toronto, Stanford, Caribbean, Palo Alto, Cayo Norte, Puerto Rico, Koop, Tavarua, Fiji
The company's goal is to add 10,000 bidirectional EV school buses across the U.S. with 300 gigawatt hours of energy available to power grids each year. In effect, instead of the one-way charge into the vehicle, the school buses will be able to send their battery power back to the grid through Zum charging infrastructure. The roughly 500,000 school buses are mostly diesel, contributing to emissions. Ram Ambatipudi, senior vice president of business development at EV Connect, which provides EV charging solutions, said the school bus model is one of the most promising in the area of using EV battery storage in a bidirectional nature. "The low-hanging fruit from what I've seen is the school bus model," Ambatipudi said.
Persons: Ritu Narayan, Ram Ambatipudi, Ambatipudi, It's Organizations: San, San Francisco Unified, Los Angeles Unified, Oakland Unified, EV Connect, Ford Locations: California, San Francisco, Oakland, California , Colorado , Connecticut , Illinois, Maryland , Massachusetts , Missouri , Nebraska , Pennsylvania, Tennessee , Texas, Washington , Utah, Virginia, U.S
The state of Wisconsin has purchased about $163 million worth of bitcoin, according to 13F filings. The state of Wisconsin Investment Board purchased bitcoin ETFs from BlackRock and Grayscale in the first quarter. The Wisconsin Investment Board manages state's pension which is worth more than $150 billion. AdvertisementThe state of Wisconsin purchased $163 million worth of bitcoin in the first quarter, according to a 13F filing made with the Securities and Exchange Commission. Advertisement"Wow, a state pension bought $IBIT in the first quarter.
Persons: , Eric Balchunas, Balchunas, Bitcoin Organizations: Wisconsin Investment, Service, Securities and Exchange Commission, The Wisconsin Investment Board, Bloomberg Intelligence Locations: Wisconsin, BlackRock, Virginia, Fairfax County
All three major averages see record closing highs
  + stars: | 2024-05-15 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAll three major averages see record closing highsBarbara Doran, BD8 Capital Partners CIO, and Eric Freedman, U.S. Bank Asset Management CIO, join 'Closing Bell Overtime' to talk the day's record market action.
Persons: Barbara Doran, Eric Freedman Organizations: BD8 Capital, Bank Asset Management
I always tell my financial planning clients to keep an emergency fund — but I don't keep cash on hand. We recommend keeping that money in a highly liquid vehicle, like a high-yield savings account or money market account. Your priority for your emergency fund should be access and safety, not returns. I have a much more intricate understanding of market risk and the impact of market downturns. The rule I refuse to break: Save (at least) 25% of gross incomeI urge my financial planning clients to prioritize their savings and investments.
Persons: , We've, It's, what's, doesn't Organizations: Service
Whether retail investors profit from their bets on GameStop and AMC Entertainment or not, one group of companies looks set to cash in from the frenzied trading: stock exchanges. So-called meme stocks, which gained popularity through social media platforms like Reddit and Twitter (or X), have attracted retail investors looking to make a quick profit. Through this new innovative offer, we will offer retail investors a true one-stop-shop experience for equity trading," he said in May 2023. "The rise of retail options trading is another secular trend we're excited to build on with more platforms coming online for index options trading later this year, giving retail investors expanded access to our products," Howson said on an earnings call to analysts this month. ICE, which owns the New York Stock Exchange and several other exchanges, offers trading in stocks, bonds, commodities, currencies and derivatives.
Persons: Eric Leupold, Deutsche Boerse, Benjamin Goy, Stéphane Boujna, FactSet, David Howson, Howson, Oppenheimer, Hannah Gooch, Peters, Marco Iachini ​, Organizations: GameStop, AMC Entertainment, Twitter, Deutsche Borse AG Deutsche Börse, Frankfurt Stock Exchange, Corona, Deutsche Börse, DB1, Deutsche Bank, Global Equity, Cboe, Wall Street, Intercontinental Exchange, Sanlam Investments, ICE, New York Stock Exchange, Vanda Locations: Germany, U.S, Switzerland, Italy, Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo, Paris, France, Portugal, Europe
When Mayor Eric Adams was asked about New York City’s lifeguard shortage at his weekly news conference, he seized the moment to make a point about potential migrant workers. Immigrant rights groups called the comments “racist and divisive.” Conservative leaders viewed them as an attempt to legitimize the hiring of noncitizens. Mr. Adams, unsurprisingly, saw things differently. On Wednesday, the mayor explained that he had visited migrant centers in the city and asked people there if they knew how to swim. He was “blown away” by the number of those who raised their hands.
Persons: Eric Adams, Adams Organizations: New, Conservative, noncitizens Locations: New York
MIT Professor Eric So on meme-stock mania
  + stars: | 2024-05-15 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMIT Professor Eric So on meme-stock maniaEric So, professor of Global Economics at MIT, joins CNBC's 'Squawk Box' to discuss the resurgence of meme stocks craze, how retail investors should approach it, and more.
Persons: Eric So Organizations: MIT, Global Economics
CNN —West Virginia Gov. Jim Justice will win the state’s Republican US Senate primary, CNN projects, positioning the two-term governor as the clear favorite to succeed retiring Democratic Sen. Joe Manchin in the deep-red state. The West Virginia Senate seat has long been seen as the most likely to flip this cycle and will be key to GOP hopes of winning the Senate this November. National Republicans, including former President Donald Trump, largely coalesced in the West Virginia Republican primary around Justice, who was barred by term limits from seeking reelection as governor. Still, in the closing weeks, the Senate contest turned bitter as Justice and Mooney traded sharp jabs on air.
Persons: Jim Justice, Democratic Sen, Joe Manchin, Alex Mooney, , Donald Trump, Mooney, , “ Mooney, , Manchin, — Trump Organizations: CNN, West Virginia Gov, Republican, Senate, Democratic, GOP, Caucus, The West, The West Virginia Senate, National Republicans, West Virginia Republican, Justice, , Democrat, Trump, New York Times Locations: The West Virginia, , Montana and Ohio, Arizona , Michigan, Nevada , Pennsylvania, Wisconsin, West Virginia, Greenbrier
AdvertisementDonald Trump sits next to his attorneys Todd Blanche and Emil Bove during the former president's criminal hush-money trial in Manhattan. Eric Trump listens as his father, Donald Trump, speaks to the media in the courtroom hallway during the former president's criminal hush-money trial. Vance listens as Donald Trump speaks to the media in the Manhattan courthouse where his hush-money trial is taking place. AdvertisementFormer President Donald Trump speaks alongside his wife, former first lady Melania Trump, during a rare joint appearance as they arrived to vote in Florida's primary election. "There was no crime," Donald Trump railed Tuesday as he spoke to reporters in the courtroom hallway.
Persons: , Donald Trump, Melania Trump, Michael Cohen —, Vivek Ramaswamy, Mike Johnson, Doug Burgum, Byron Donalds, Cory Mills, Donald Trump's, Eric Trump, Lara Trump, Todd Blanche, Emil Bove, Craig Ruttle, Trump, Johnson, Cohen, Justin Lane, Susan Hoffinger, Ohio Sen, J.D, Vance, Nicole Malliotakis, Alabama Sen, Tommy Tuberville, Brenna Bird, Steve Marshall, Mark Peterson, Michael Cohen, Florida Sen, Rick Scott, Ken Paxton, Katie Phang, Jeanine Pirro, Andrew Guiliani, Rudy Giuliani, Rachel Maddow, Lawrence O'Donnell, CNN's Anderson Cooper, Giorgio Viera, reimbursing Cohen, Stormy Daniels, Daniels, I've Organizations: Service, Trump, Business, GOP, Mike Johnson , North Dakota Gov, Florida Rep, cochair, Republican, Vance , New York, Alabama, Conservative, Fox News, Getty, Prosecutors, Manhattan, Attorney's Locations: York, Manhattan, Mike Johnson ,, Florida, Cory Mills of Florida, Washington, Donalds, Ohio, Vance ,, Alabama, Iowa, Texas, Tahoe
At least two prison officers were killed in northern France on Tuesday after armed assailants ambushed a convoy at a road tollbooth and freed an inmate, the French authorities said. Éric Dupond-Moretti, France’s justice minister, said on the social media platform X that three other prison officers had been seriously injured in the episode, which occurred near Incarville, a town in the Eure area northwest of Paris. President Emmanuel Macron said the attack was a “shock to us all.”“The Nation stands by the families, the injured and their colleagues,” he said on X.Gérald Darmanin, France’s interior minister, said on X that “hundreds” of police officers had been deployed to apprehend the escaped inmate and the assailants who had freed them.
Persons: Éric Dupond, Moretti, Emmanuel Macron, , Gérald Locations: France, Incarville, Eure, Paris
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