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☆ Apple dominated Wall Street's buyback business even before its latest $110 billion
▼ + stars: | 2024-05-03 | by ( Bob Pisani | ) www.cnbc.com time to read: +1 min

Apple's $110 billion stock buyback announcement Thursday is large, but the iPhone maker already dominated the league table of companies making the largest stock buybacks in the S & P 500, measured in dollar terms. In the last 12 months, Apple has bought back $84.5 billion in stock, far beyond anyone else in the S & P 500. Share count has gone from 26.2 billion in 2013 to 15.3 billion today, a reduction of 41%. Largest quarterly buybacks in history Apple (Q4 2020) $27.6 billion Apple (Q2 2021) $25.6 b Apple (Q3 2022) $24.7 b Apple (Q2 2022) $24.5 b Apple (Q1 2019) $23.8 b Source: S & PDowJonesIndices Buybacks are the preferred mode of returning cash In recent years buybacks have become the preferred method of returning cash to shareholders. $925 billion 2023 $815 b 2022 $950 b 2021 $919 b 2020 $538 b 2019 $749 b Source: Goldman Sachs

Persons: Goldman Sachs Organizations: Apple, Microsoft, Exxon Mobil, Chevron, Mobile, Comcast, Petroleum Locations: America

☆ BlackRock says now is the time to lock in higher yields and move cash into bonds
▼ + stars: | 2024-05-03 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Investors with cash on the sidelines may want to start moving some of that money into bonds, according to a new report from BlackRock. The bond market has seen some volatility amid the uncertainty around interest rates and the Federal Reserve's monetary policy. Bond yields move inversely to prices. US10Y YTD mountain 10-year Treasury yields Yields are at levels not seen in 20 years, he pointed out. Aggregate Bond ETF year to date The iShares Core Total USD Bond Market ETF (IUSB) is also a passively managed, broad bond market fund which adds exposure to potentially higher-yielding names.

Persons: Steve Laipply, shouldn't, Laipply Organizations: Federal, Treasury, BlackRock, Fed, Core, Aggregate Bond, Bloomberg U.S, SEC, Aggregate, Bond Locations: BlackRock

☆ Linde's guidance leaves investors wanting more. We're saying thanks to the sellers
▼ + stars: | 2024-05-02 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +8 min

Shares of Linde fell on Thursday after the industrial gas giant reported mixed first-quarter results and its guidance left some investors wanting more. We're not sure of the rationale for excluding it but that explains why we're not fretting about Linde's lack of guidance raise. Guidance For the second quarter, Linde projects adjusted EPS between $3.70 and $3.80, which implies 5% to 7% year-over-year growth, excluding currency impacts. As always with Linde, the midpoint of the guidance assumes no economic improvement. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Linde, —, Sanjiv Lamba, Matthew White, White, Lamba, Eaton, We're, we're, Jim Cramer's, Jim Cramer, Jim, Michaela Rehle Organizations: Linde, Revenue, LSEG, Products, Management, LIN, Nvidia, CNBC Locations: Munich, Pullach, Germany

☆ Kenya floods: Maasai Mara visitors stranded as death toll nears 200
▼ + stars: | 2024-05-02 | by ( Larry Madowo | Rob Picheta | ) edition.cnn.com time to read: +4 min

CNN —Staff and visitors have been left stranded and buildings submerged at Kenya’s famous Maasai Mara nature reserve, as the death toll in catastrophic flooding in the country’s southwest rose to at least 188 people. Local authorities ordered some tourist facilities in the National Reserve to close after River Talek, one of the tributaries of the Mara River, burst its banks and swept through more than a dozen riverside tourist lodges and camps. In Maasai Mara, camp owners were told to leave the affected properties and “move to higher ground further away from River Talek,” governor of Narok county Patrick Ole Ntutu said on Wednesday. Parts of Maasai Mara National Reserve were left submerged by the flooding. Authorities said they had deployed two helicopters to rescue stranded tourists and local staff around the national reserve after receiving distress calls.

Persons: Mai Mahiu, Isaac Mwaura, Susan Kihika, Mara, Patrick Ole Ntutu, Bobby Neptune, Luis Tato, Kipkech Lotiatia, Bush, James Apolloh Omenya, couldn’t, “, X, El Niño, Jagan Chapagain, ”, Nyagoah Tut Organizations: CNN — Staff, National Reserve, CNN, Mara National Reserve, Authorities, Cross, Paramilitary, ”, Youth Service, ” International Federation of Red, Red Crescent Societies, Human Rights, “ Kenyan Locations: Mara, Kenya, Nairobi, Mai, Nakuru County, ”, Narok, AFP, Talek, Kenya’s, Africa, East Africa, Tanzania, Burundi, “ Kenya, Nyagoah Tut Pur

☆ Citi just added these global stocks with over 30% upside to its ‘highest conviction ideas’ list
▼ + stars: | 2024-05-02 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +2 min

U.S. bank Citi refreshed its list of "highest conviction ideas" for Europe and recommended a specific trading strategy that investors can adopt right now. "The focus is on bottom-up ideas," Citi's analysts wrote in an Apr. The list also "highlights liquid names in which investors can build positions," the Citi analysts added. Citi's focus list delivered returns of 3.4% over the last 12 months and 5.4% in the past three months. Citi has a target price of £200 on the LSE-listed stock, giving it 34% potential upside.

Persons: —, Leonardo Citi, Leonardo, — CNBC's Michael Bloom Organizations: Citi, U.K . Ministry of Defence, Revenue, London Stock Exchange, New York Stock Exchange, LSE Locations: Europe, U.S, Ireland, Australia, Italy

☆ Fed Holds Rates Steady, Noting Lack of Progress on Inflation
▼ + stars: | 2024-05-01 | by ( Jeanna Smialek | More About Jeanna Smialek | ) www.nytimes.com time to read: +1 min

Federal Reserve officials left interest rates unchanged and signaled that they are wary about how stubborn inflation is proving, paving the way for a longer period of high interest rates. The Fed held borrowing costs steady at 5.33 percent on Wednesday, leaving them at a more than two-decade high where they have been set since July. Central bankers reiterated that they need “greater confidence” that inflation is coming down before reducing rates. “Readings on inflation have come in above expectations,” Jerome H. Powell, the Fed chair, said at a news conference following the release of the central bank’s rate decision. After months of rapid cooling, inflation has proved surprisingly sticky in early 2024.

Persons: ” Jerome H, Powell Organizations: Federal Reserve, Fed

☆ What the Fed’s Moves Mean for Mortgages, Credit Cards and More
▼ + stars: | 2024-05-01 | by ( Tara Siegel Bernard | More About Tara Siegel Bernard | ) www.nytimes.com time to read: +1 min

American households who have been hoping interest rates would soon decline may have to wait a bit longer. The Federal Reserve is expected to keep its benchmark interest rate unchanged on Wednesday. But yet another report of persistent inflation may ultimately cause the policy-making body to keep rates elevated for longer than it had previously expected. For people with money stashed away in higher-yielding savings accounts, a continuation of elevated rates translates into more interest earnings. But for people saddled with high cost credit card debt, or aspiring homeowners who have been sidelined by higher interest rates, a lower-rate environment can’t come soon enough.

Persons: they’ve Organizations: Federal

☆ Viking is the biggest IPO of the year, capping off a huge month for IPOs
▼ + stars: | 2024-05-01 | by ( Bob Pisani | ) www.cnbc.com time to read: +2 min

The Viking Holdings Ltd. IPO, which starts trading today on the New York Stock Exchange, will be the biggest IPO of 2024 so far. Viking is only the biggest in a month of standouts. Eighteen IPOs raised a combined $5.3 billion in April, according to Renaissance Capital, the busiest month for IPOs since November 2021. The stock market had a miserable April, with the S & P 500 down 4% and, unsurprisingly, many recent IPOs were down. All of the larger, most recent IPOs remain above their initial offering price.

Persons: Del Organizations: Viking Holdings, New York Stock Exchange, Renaissance Capital, IPOs, Viking, Holdings, Epic Locations: Bermuda, Del Monte

☆ AI is ushering edtech into a new era. Three investors share what they're most excited about in the space.
▼ + stars: | 2024-05-01 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +7 min

The past few years have been tough for edtech companies. In recent months, multiple edtech startups have raised fresh funding rounds while specifically touting AI as a core part of their business model. These deals could signal that AI is ushering in a new era for edtech companies, and VCs who invest in the space are excited about the renaissance. And Ednition, also one of Donnelly's portfolio companies, provides an infrastructure-as-a-service platform for other edtech companies to improve the data that goes into their AI models. That's why it's so important to invest in ed-tech AI startups that help people rethink how they interact with technology and learn new skills necessary to successfully enter the workforce, he said.

Persons: PitchBook, VCs, Brian Dixon, Dixon, we've, Numerade, Kapoor, Katelyn Donnelly, she's, I've, you'll, Donnelly, Avalance, OpenAI, we're, ChatGPT, Ryan Craig, Craig, edtech Organizations: Business, Labs, Kapor, Partners, Chingona Ventures, TechCrunch, Kapoor Capital, Lirvana Labs, Odyssey Education, University Ventures, ACT Locations: VCs, edtech

☆ Americans were paid an additional $235 billion in interest in 2023, thanks to the Fed
▼ + stars: | 2024-05-01 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +7 min

High-yield savings accountsThe average interest rate on regular bank savings accounts is roughly 0.5% but can run as low as 0.01% at the biggest banks. By contrast, the average on high-yield savings accounts is well over 4%, according to DepositAccounts.com. If you leave it parked in a regular savings account at 0.5%, you’ll get $50 in interest for a year. As with any savings account, banks can lower the rate they offer — also known as the APY — at any time. Money market accounts and money market fundsAlthough money market deposit accounts and money market mutual funds are both generating yields competitive with the best high-yield savings accounts, there are important differences.

Persons: —, It’s, ”, Greg McBride, you’ll, McBride, “, ” McBride, Ben Bakkum, Collin Martin, Martin Organizations: New, New York CNN, Federal Reserve, Federal Deposit Insurance Corporation, FDIC, National Credit Union Share Insurance, Securities Investor Protection Corporation, Treasury, Fed, Schwab Center, Financial Research Locations: New York, Schwab.com, United States

☆ What to Watch as the Fed Makes Its Interest Rate Decision
▼ + stars: | 2024-05-01 | by ( Jeanna Smialek | ) www.nytimes.com time to read: +1 min

On the one hand, officials could stick with their recent script: Their next policy move is likely to be an interest rate reduction, but incoming inflation and growth data will determine how soon reductions can begin and how extensive they will be. Policymakers believe that they need to use interest rates to tap the brakes on demand and bring inflation fully under control. The Fed will release its policy decision in a statement at 2 p.m. Eastern. But investors are likely to focus most intently on a news conference scheduled for 2:30 p.m. with Jerome H. Powell, the Fed chair. Central bankers will not release quarterly economic projections at this gathering — the next set is scheduled for release after the Fed’s June 11-12 meeting.

Persons: Jerome H, Powell Organizations: Federal

☆ Republicans could cost Kari Lake the Arizona Senate race as a new poll shows 15% of GOP voters backing her likely Democratic opponent
▼ + stars: | 2024-04-30 | by ( John L. Dorman | ) www.businessinsider.com time to read: +2 min

Kari Lake is hoping to flip the Arizona US Senate seat being vacated by Kyrsten Sinema. But a new Emerson College Polling/The Hill survey shows that she's not consolidating the GOP base. The poll shows her likely Democratic opponent, Ruben Gallego, winning 15% of GOP voters. AdvertisementIn the fight to win Arizona's Senate seat this fall, Democratic Rep. Ruben Gallego and GOP candidate Kari Lake are locked in a close race in what has become one of the nation's premier swing states. AdvertisementBut the latest survey showed the challenges that she still faces as she works to flip the key Senate seat for the GOP.

Persons: Kari Lake, Kyrsten Sinema, Ruben Gallego, —, Gallego, Sen, Kyrsten, she's, Sinema —, Democrat —, Martha McSally, Trump's Organizations: Arizona, Emerson College Polling, GOP, Democratic, Service, Senate, Democratic Rep, Trump, Democrat, Republican Locations: Phoenix, Lake, Arizona, Gallego, Arizona's

Eli Lilly — Shares added 5% after Eli Lilly, maker of the Mounjaro diabetes and weight loss drug, beat analysts' expectations for first-quarter adjusted earnings. PayPal — Shares gained 3.6% after the payment company posted $7.70 billion in first-quarter revenue, beating analysts' estimates for $7.51 billion, according to LSEG. The chipmaker posted adjusted earnings of $3.24 per share, higher than the consensus estimate of $3.16 per share, according to LSEG. Earnings of 24 cents per share on $1.37 billion in revenue exceeded consensus forecasts of 11 cents and $1.36 billion, according to FactSet. Adjusted earnings of 71 cents per share topped anticipated earnings of 65 cents per share.

Persons: Eli Lilly —, Eli Lilly, drugmaker, Jefferies, Tesla, Goldman Sachs, Tenet, Corning, FactSet, Sysco, Medifast, Paccar, Bob Bakish, Skydance, Needham, Macheel, Michelle Fox, Yun Li, Lisa Kailai Han, Pia Singh, Sarah Min Organizations: PayPal —, PayPal, Semiconductor, Tenet, FactSet, Technology, GE Healthcare Technologies, LSEG, Taco Bell, KFC, Paramount Global, CBS, Paramount Locations: Indianapolis, China, LSEG, FactSet, Houston

☆ We are hiking our price target on Eaton as demand for AI computing power heats up
▼ + stars: | 2024-04-30 | by ( Zev Fima | ) www.cnbc.com time to read: +14 min

Sales, earnings, segment profit margin, and organic growth all came in ahead of expectations, despite some minor misses in certain operating segments. In addition to the strong headline results, Electrical Americas, its biggest division, realized another record for sales, segment profit, and segment margins — driven partly by data center demand for AI computing power. Electrical Americas achieved yet another record for sales, segment profit, and segment margins with management noting strength in the data center market. Management expects a segment margin of 22.4% to 22.8%, ahead of the 22.4% midpoint estimate. Electrical Americas achieved yet another record for sales, segment profit, and segment margins with management noting strength in the data center market.

Persons: Eaton, Parker, Craig Arnold, Arnold, Jim Cramer's, Jim Cramer, Jim Organizations: Revenue, LSEG, Hannifin, DuPont, Honeywell, Electrical, Management, Aerospace, CNBC, Eaton Corporation, NYSE, NYSE Eaton Locations: North America, Electrical Americas, U.S, Eaton, Americas

☆ We're raising our Amazon price target, betting light guidance proves conservative
▼ + stars: | 2024-04-30 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Amazon Why we own it : Amazon may be widely known for online shopping, but its cloud business is the real breadwinner. While an International e-commerce sales increase of 10% to $31.94 billion missed estimates, the segment saw $903 million in operating income. Guidance Amazon expects second-quarter net sales to be between $144 billion to $149 billion, growing 7% to 11% year over year. However, thanks to disciplined cost management, operating income guidance is expected to come in much closer to the mark at $10 billion to $14 billion versus $12.73 billion expected. The midpoint of the sales and operating income estimates point to an operating margin target of 8.2%, which compares with an 8.5% estimate for the second quarter.

Persons: it's, Andy Jassy, Jassy, we're, That's, Jim Cramer's, Jim Cramer, Jim, CNBC's Andrew Ross Sorkin Organizations: Amazon, LSEG, Walmart, Target, Microsoft, Services, Web Services, CNBC Locations: Amazon, America, North America

☆ Worker pay rose more than expected in Q1 in another sign of persistent inflation
▼ + stars: | 2024-04-30 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Employee compensation costs jumped more than expected to start the year, providing another danger sign about persistent inflation, while consumer confidence hit its lowest level in nearly two years. The employment cost index, which measures worker salaries and benefits, gained 1.2% in the first quarter, the Labor Department reported Tuesday. The Fed watches the ECI as a significant measure of underlying inflation pressures. State and local government workers saw their compensation costs rise 4.8%, down just narrowly from the same period in 2023. The Consumer Confidence Index slipped to 97, a decline of 6.1 points that was below the Wall Street estimate for 103.5.

Persons: Dow Jones, Dana Peterson, Peterson Organizations: Labor Department, Dow, Fed, Committee, Conference Locations: State

☆ Stock market today: futures slip ahead of Amazon earnings and a key Fed update
▼ + stars: | 2024-04-30 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +2 min

US stock futures retreated on Tuesday as Wall Street awaited key earnings reports and a Fed update. AdvertisementStocks drifted lower in premarket trading on Tuesday as investors held their breath for marquee earnings reports and a critical update from the Federal Reserve. "If that's the case, we could see a further meltdown in Fed rate cut expectations. The next stop is no rate cut in 2024, which would be a cold shower for the bulls," she added. "If the Fed expectations turn undesirably hawkish, we could see the equity rally stall," Ozkardeskaya said.

Persons: Eli Lilly, McDonald's, —, Jerome Powell, Ipek Ozkardeskaya, it's, undesirably, Ozkardeskaya Organizations: Starbucks, Service, Federal Reserve, Dow Jones Industrial, Nasdaq, Treasury, Swissquote Bank

☆ Stocks making the biggest moves premarket: Eli Lilly, 3M, McDonald's and more
▼ + stars: | 2024-04-30 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Eli Lilly also hiked its full-year guidance for adjusted earnings and revenue, topping analysts' expectations. 3M – Shares advanced 7.7% after the maker of industrial products posted earnings of $2.39 per share on revenues of $7.72 billion. First-quarter revenue at the Netherlands-based automaker slid 12% due to lower sales plus foreign exchange effects, even as net pricing remained strong. HSBC — HSBC, Europe's largest bank by assets, added 4.2% after the firm beat first-quarter earnings expectations and announced the departure of its Group Chief Executive Officer, Noel Quinn. PayPal saw first-quarter revenue of $7.7 billion, topping analysts' $7.51 billion consensus estimate, according to LSEG.

Persons: Eli Lilly —, Eli Lilly, Meanwehile, Goldman Sachs, Coke, Tesla, Noel Quinn, Yun Li, Jesse Pound, Michelle Fox Theobald Organizations: Chrysler, HSBC — HSBC, GE Healthcare Technologies, GE, PayPal Locations: Chicago, Netherlands, Atlanta, China

For most of its 27 years as a public company, Amazon investors have been asked to sacrifice profit for growth. In its first-quarter earnings report on Tuesday, Amazon's operating margin reached double digits for the first time on record. Operating income more than tripled in the quarter to $15.3 billion, while net income also jumped more than 200% to $10.4 billion. Almost two-thirds of operating income for all of Amazon came from AWS, which is now generating over $100 billion in annualized revenue. Operating income will be $10 billion to $14 billion, up from $7.7 billion a year earlier.

Persons: Andy Jassy, Andy, Andy Jassy's, Tom Forte, CNBC's, Brian Olsavsky, Olsavsky, That's, Jassy, he's Organizations: Amazon, Seattle, Maxim Group, Revenue, Amazon Web Services, AWS, Technology, Microsoft, Google Locations: Seattle

☆ Hong Kong stocks are back from the dead. Here’s why
▼ + stars: | 2024-04-30 | by ( Laura He | ) edition.cnn.com time to read: +6 min

Hong Kong CNN —Hong Kong’s benchmark Hang Seng Index surged more than 7% in April as the best-performing major index in the world. The valuation of Hong Kong stocks has also become more “compelling” relative to the rest of the Asian region after the pullback last year, said Zhikai Chen, head of Asian equities at BNP Paribas Asset Management. He added that there is a shift in investors’ sentiments as Chinese economic data turned more positive. Innes said global investors are currently “underweight” in Chinese markets, including Hong Kong, because of geopolitical tensions and concerns surrounding potential fallout from the upcoming US elections. Stock exchange data showed that southbound investors (meaning investment from mainland China into Hong Kong) have bought nearly $20 billion of Hong Kong-listed stocks in March and the first three weeks of April on a net basis.

Persons: ”, Kelly Chung, Zhikai Chen, Stephen Innes, David Chao, Nomura, Xiaomei Chen, Angelina Lai, Innes, Kong, BNP Paribus Organizations: Hong Kong CNN, Hong, Value Partners, BNP, Management, P Global, PMI, Kong's, Reuters, US, People’s Bank of, HK, “ Locations: China, Hong Kong, United States, Beijing, India, James’s, People’s Bank of China

☆ Exclusive: French VC firm Ventech has exited digital music company Believe and launched its 6th fund
▼ + stars: | 2024-04-30 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +3 min

Read previewVenture capital firm Ventech has sold its stake in digital music company Believe, saying the company's lack of liquidity has led to it being "chronically undervalued" on the Paris Stock Exchange. "It wasn't really possible to use the Believe stock to accelerate its build-up," he added. Related stories"The management wanted to size the company, but the stock price and liquidity wasn't allowing that," he said. Ventech has raised an initial closing for its sixth fund, targeted at around €225 million ($241 million). Ventech has made initial deals from its sixth fund, backing French startup Firecell and German real-estate management company Einwert.

Persons: —, Ventech, Jean Bourcereau, Thomas Bravo, Bourcereau Organizations: Service, Paris Stock Exchange, Business, London Stock Exchange Locations: Ventech, €, Europe, Stockholm

☆ Bonds offer income and some volatility protection. Pick out the right bond fund for your portfolio
▼ + stars: | 2024-04-29 | by ( Michelle Fox | ) www.cnbc.com time to read: +6 min

That said, in general, most investors would be best served buying a diversified bond fund, said Mulach. What to look for in bond fundsThere are several factors to consider when investing in a bond fund. Intermediate-core durations typically range between 75% and 135% of the three-year average of the effective duration of the Morningstar Core Bond Index. Top Morningstar Bond Funds Ticker Fund Morningstar Category Type 30-day SEC yield Adj. Aggregate Bond ETF can be a great option to simply replicate that index, he said.

Persons: Morgan Stanley, shouldn't, Morningstar, Mike Mulach, Chuck Failla, Failla, Mulach, You'll, Baird, BSBSX Baird, Morningstar's Organizations: Treasury, Federal Reserve, Sovereign Financial, Morningstar, SEC, Mutual, FLTB Fidelity, Fidelity, Hartford, Aggregate

☆ Stocks making the biggest moves after hours: Paramount, NXP Semiconductors, Chegg, F5 and more
▼ + stars: | 2024-04-29 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

The news comes as Paramount posted per-share earnings of 62 cents, topping the 36 cents anticipated by analysts polled by LSEG. First-quarter earnings of 24 cents per share surpassed an estimate of 11 cents per share from Factset. Second-quarter earnings and revenue guidance also came in better than expected. F5 — The application security cloud company dropped 9% after F5 issued disappointing third-quarter revenue guidance of $675 million to $695 million, compared to the $695 million LSEG consensus estimate. Second-quarter revenue of $681 million also missed the $685 million anticipated by analysts.

Persons: Bob Bakish, LSEG, Chegg, Medifast, Coursera, Woodward, Jeff Cote, Martha Sullivan, Sensata, Phillip Eyler Organizations: Paramount, CBS, LSEG, Sensata, Elliott Investment Locations: LSEG ., Factset .

Sticky inflation has pushed mortgage rates up in recent months, and we likely won't see them trend down until inflation starts decelerating again. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 15-Year Fixed Mortgage Rates Go Up (+0.23%)The average 15-year mortgage rate is 6.48%, 23 basis points higher than last week. Mortgage Refinance Rates30-Year Fixed Refinance Rates Fall Slightly (-0.11%)The average 30-year refinance rate is 7.42%, 11 basis points lower than last week. Mortgage rates also rose dramatically in 2023, though they started trending back down toward the end of the year.

Persons: decelerating, it's, you'll, It's, refinance Organizations: Federal, US, of Economic, Zillow, FHA Locations: Chevron

☆ Biden unrestrained? The president’s looser week will be capped with politics and jokes on Saturday.
▼ + stars: | 2024-04-27 | by ( Chris Cameron | ) www.nytimes.com time to read: +3 min

Mr. Biden will almost assuredly make jokes at Mr. Trump’s expense and poke fun at the Washington press corps. But Mr. Biden could also take a victory lap for a spate of good news in recent days. On Thursday, Mr. Biden promoted a $6.1 billion grant to a chip manufacturer that he said would bolster the nation’s supply of semiconductors, contributing to what he has labeled “the great American comeback story.”And on Friday, Mr. Biden made a surprise visit to “The Howard Stern Show,” hosted by America’s best-known shock jock. The president spoke at length about deeply personal events, showing an emotionally vulnerable side to Mr. Stern’s large audience of middle-class Americans. And, in a notable shift, he said he would debate Mr. Trump.

Persons: Joseph R, Biden, — cranking, Donald J, Trump, Mr, Howard Stern, ”, America’s Organizations: Republican, Trump, White, ’, Mr, Washington Locations: Washington, North America’s, Ukraine, Israel, Taiwan, New York

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