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Former President Donald J. Trump, who has been spending much of his time recently as a criminal defendant in a Manhattan courtroom, will be in a different New York borough next Thursday, when he will hold a campaign event in the Bronx. The gathering is scheduled to take place at Crotona Park, his campaign announced in a statement on Friday evening, declaring that Mr. Trump would “ease the financial pressures placed on households and re-establish law and order in New York!”It is an unusual location for a Republican presidential campaign event: The area went for President Biden by about 77 percentage points in the 2020 election. And despite a shift to the right in some of New York State’s congressional districts and neighborhoods, including in the Bronx, in recent years, the state as a whole is not considered a general-election battleground. But Mr. Trump’s aides have been discussing an event in the South Bronx for weeks. The gathering, they said, would not be a traditional rally.
Persons: Donald J, Trump, Biden, Trump’s Organizations: Republican Locations: Manhattan, New York, Bronx, Crotona, South Bronx
A chocolate factory and a soda bottling plant set on fire. As protests against French control boiled over this week in New Caledonia, the South Pacific archipelago experienced some of its most intense violence since a civil war decades ago. “I’m in a state of shock, I can’t move,” Lizzie Carboni, a writer who lives in Noumea, the capital, said by phone as the fourth night of protests began on Thursday. It built a penal colony and over time shipped in more foreigners to mine New Caledonia’s vast nickel reserves. That eventually made the Indigenous Kanaks a minority in their own land.
Persons: Molotov, , Lizzie Carboni, Carboni Organizations: Pacific, Locations: New Caledonia, Noumea, ” France, Australia
The Ugly Effect of Physical Insults
  + stars: | 2024-05-17 | by ( Vanessa Friedman | ) www.nytimes.com   time to read: +1 min
Debates can get, well, ugly in Congress, but rarely do they descend to the level of physical taunts. Yet that is exactly what happened on Thursday during a meeting of the House Oversight Committee. During a discussion about whether Attorney General Merrick B. Garland should be held in contempt of Congress, Representative Marjorie Taylor Greene, a Republican from Georgia, told Representative Jasmine Crockett, a Democrat from Texas, “I think your fake eyelashes are messing up what you’re reading.”Representative Alexandria Ocasio-Cortez, a Democrat from New York whose own signature red lipstick has become something of an online lighting rod, then leaped to Ms. Crockett’s defense. “How dare you attack the physical appearance of another person,” she said. Further name-calling ensued, culminating in Ms. Crockett’s covertly returning the insult by asking the chair, James R. Comer, “If someone on this committee then starts talking about somebody’s bleach blond, bad-built butch body, that would not be engaging in personalities, correct?” (That description being a not-entirely-implicit reference to Ms.
Persons: Merrick B, Garland, Marjorie Taylor Greene, Jasmine Crockett, , Alexandria Ocasio, , Crockett’s, James R, Comer, Greene Organizations: Republican, Locations: Georgia, Texas, Cortez, New York
The severe storms that swept through Houston and the Gulf Coast on Thursday left all the destructive traces of a hurricane, yet they didn’t blow in from the tropics. Here’s what to know about such storms, and how they might be changing in our warming climate. Global warming creates conditions more favorable to severe storms. As the planet warms, severe storms of all kinds are likely to deliver even bigger payloads of rain. The heat energy released into the atmosphere by this condensation is what feeds thunderstorms.
Locations: Houston, Gulf, United States
CNN —Donald Trump finally had a good day in court. But on Thursday, he got to savor his former fixer-turned-enemy Michael Cohen wobbling on the stand under a fearsome cross-examination. And now, the prosecution faces a stiff challenge in repairing the damage when they get to their redirect examination of Cohen’s testimony following the close of cross-examination next week. “I think it was a very interesting day, it was a fascinating day. And it also raises the possibility that some jurors might believe that they have been lied to by Cohen earlier in the trial.
Persons: Donald Trump, Michael Cohen wobbling, Cohen, Stormy Daniels, , ” Ryan Goodman, CNN’s Erin Burnett, ” Trump, Matt Gaetz, Trump, Todd Blanche, Blanche, Daniels, , Keith Schiller, Schiller, , ” Blanche, President Trump, doesn’t, , Juan Merchan, Nikki Lotze, “ Jim, Norm Eisen, ” Eisen, CNN’s Anderson Cooper, George Conway, ” Cohen, kingpins, Cohen’s Organizations: CNN, GOP, Trump, NYU Law, Florida, Conservative
New York City once sold a promise of free prekindergarten for all as an unusual benefit designed to make it far easier to raise children in this expensive city. So as families worried over whether their 3-year-olds would have spots this fall, Mayor Eric Adams pledged last month that everyone would have “access” to a seat. Every 4-year-old in New York is guaranteed a free preschool seat, and 3-year-olds were next in line for a universal program. On Thursday, about 2,500 children did not receive a prekindergarten offer, leaving their parents in limbo. Many are still on huge waiting lists and scrambling to rethink their finances and future in the city.
Persons: Eric Adams, Adams Organizations: Education Department Locations: York City, New York
How Election Deniers Claimed the Upside-Down Flag
  + stars: | 2024-05-17 | by ( Michael Levenson | ) www.nytimes.com   time to read: +1 min
It has been a widely recognized symbol of distress since the nation’s founding, when sailors turned the American flag upside down to signal that their ships were sinking, on fire or trapped in ice. But over time, the upside-down American flag became a symbol brandished more often by protesters across the political spectrum to signal that they believed the nation itself was in grave peril. After President Biden won the 2020 election, supporters of former President Donald. J. Trump rallied around the inverted flag, displaying it at their homes, on their cars and on social media to show that they believed Mr. Trump’s lie that the election was stolen. At the time, the Supreme Court was still contending with whether to hear a 2020 election case.
Persons: Biden, Donald . J, Trump, Samuel A, Alito Jr Organizations: New York Times Locations: Alexandria, Va
The storm that hurtled through Houston late Thursday surprised a city long accustomed to bouts of serious weather. The Astros kept playing baseball, even as rain and wind whipped into the team’s closed-dome stadium. Many people, following their evening routines, were caught unaware on bikes or at the gym. Decades-old oak and pecan trees were ripped in two or knocked over at the roots, flattening fences or blocking roadways. Highway billboards buckled, including the Car Wreck Cowboy, a local lawyer whose sign, usually towering over Interstate 45 near downtown, had been flattened into an empty lot.
Persons: Houstonians Organizations: Astros Locations: Houston,
Storm Carves Path of Destruction Across Houston
  + stars: | 2024-05-17 | by ( The New York Times | ) www.nytimes.com   time to read: 1 min
A powerful storm tore through Texas on Thursday evening, killing at least four people and battering the state with destructive winds and heavy rain. The force of the storm caused widespread damage in Houston, blowing out the glass windows of ground-level storefronts and downtown high-rises. Nearly a million utility customers were still without power on Friday morning, and officials said that the storm brought winds with speeds of up to 100 miles per hour. With some roads still blocked off, officials have warned people to stay home as they assess the damage and clear debris. Here’s a look at the damage in Houston from the storm.
Locations: Texas, Houston
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe will continue to hit record all-time highs into the summer: Sanctuary Wealth’s Mary Ann BartelsMary Ann Bartels, Sanctuary Wealth chief investment strategist, joins ‘Squawk Box’ to discuss markets as Dow briefly topped 40,000 for the first time on Thursday, how investors should approach the market, and more.
Persons: Mary Ann Bartels Mary Ann Bartels Organizations: Sanctuary Wealth, Dow
Exchange of insults at House committee hearing
  + stars: | 2024-05-17 | 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 EmailExchange of insults at House committee hearingA House Oversight and Accountability Committee meeting on Thursday night descended into chaos.
The S & P 500 on Wednesday closed above 5,300 for the first time ever. The last time the S & P 500 Short Range Oscillator was this overbought was back in December. The upswing picked up after the S & P 500's most recent bottom on April 19 and pushed to this week's records. .SPX 1Y mountain S & P 500 - 1 year There is no telling whether the current overbought market will follow a similar pattern. Perhaps more telling, four of the bottom six sectors saw earnings estimates revised higher since the end of the first quarter.
Persons: Dow, Morgan Stanley, Stocks, it's, Rather, Jim Cramer's, Jim Cramer, Jim, Victor J Organizations: Federal Reserve, Palo Alto Networks, CNBC, Visitors, New York Stock Exchange, Blue, Bloomberg, Getty
Supreme Court upholds CFPB funding: Here's what you need to know
  + stars: | 2024-05-17 | 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 EmailSupreme Court upholds CFPB funding: Here's what you need to knowSupreme Court upheld Consumer Financial Protection Bureau's funding mechanism on Thursday. CFPB Director Rohit Chopra joins ‘Squawk Box’ to discuss this ruling and more.
Persons: CFPB, Rohit Chopra Organizations: Consumer
Beaten-down clean energy stocks have rallied this week. The iShares Global Clean Energy exchange-traded fund, which tracks sectors from renewable electricity to semiconductors to solar energy, has gained roughly 3%. Plug Power shares have climbed 33%, Enphase Energy shares have gained 8% and NextEra Energy shares have added 4%. Some investors warn that though the tariffs could continue boosting clean energy stocks, the recent rally isn’t driven by just improving fundamentals. Damaging hacks expose the weak underbelly of America’s health care systemA pair of recent ransomware attacks crippled computer systems at two major American health care firms, disrupting patient care and exposing fundamental weaknesses in the US health care system’s defenses against hackers, reports my colleague Sean Lyngaas.
Persons: New York CNN — It’s, Joe Biden, CNN’s Kayla Tausche, , Steve Sosnick, Roaring Kitty, Keith Gill, Dow, Nicole Goodkind, stoking, Gary Pzegeo, ” Read, Sean Lyngaas, cybersecurity, ” Joshua Corman, Sen, Ron Wyden Organizations: CNN Business, Bell, New York CNN, Clean Energy, Enphase Energy, NextEra Energy, Biden, Federal Reserve, Interactive Brokers, CNN, GameStop, AMC Entertainment, Roaring, Dow Jones Industrial, Nasdaq, Markets, Bureau of Labor Statistics, CIBC Private Wealth, “ Industry, Oregon Democrat Locations: New York, China
Now that the Dow Jones Industrial Average has made headlines by crossing the 40,000 level for the first time ever on Thursday, what comes next? History shows the 128-year-old-average tends to pull back a bit after crossing large, round number thresholds. "History tends to confirm that the market typically takes a breather after eclipsing millennium milestones." Bear market declines of 20% or more also happened just 5% of the time. .DJI 1Y mountain The 30-stock Dow crossed the 40,000 level on Thursday after flirting with the threshold in April.
Persons: Sam Stovall, Stovall, Dow Organizations: Dow Jones, Dow, Walmart, Nasdaq Locations: 39,8907.88
Read previewAfter one week of jury selection and four weeks of prosecution testimony, Donald Trump's New York hush-money trial is now in its home stretch. Then, the defense case will begin. "I'm doing everything possible to avoid big breaks between summations, jury charge, jury instructions, and deliberations," Merchan told the parties Thursday. AP/Christine CornellThursday: Deliberations could beginAgain, if the scheduling stars align, deliberations could begin Thursday, the last trial day before the four-day holiday. AdvertisementBefore deliberations can begin, jurors need to hear the entirety of the defense case — with or without Trump.
Persons: , Donald Trump's, Juan Merchan, Trump, Michael Cohen, Donald Trump, Julia Nikhinson, Cohen, Trump's, Todd Blanche, Susan Hoffinger, Blanche, — Bradley, Smith, Juan Merchan Jane Rosenberg, Christopher Conroy, Merchan's, Conroy, Merchan, Will Trump, Matt Gaetz, Mike Segar, Judge Cannon, Aileen Cannon, Christine Cornell Organizations: Service, Business, AP, Commission, Prosecutors, Reuters, Federal Election, Trump Locations: York, Florida, summations
European markets are poised to open lower Friday after shares snapped a nine-day winning streak in the previous session as earnings weighed on positive sentiment. The pan-European Stoxx 600 closed lower Thursday as earnings misses from Siemens and EasyJet weighed on the index. Earnings come Friday from Richemont and Engie , while inflation updates are due out of the U.K. and euro zone.
Persons: EasyJet Organizations: Siemens Locations: Richemont
Putin’s two-day state visit comes as Western leaders have leant on Xi to ensure that soaring exports from his country aren’t propping up the Russian war effort – a claim Beijing denies. Putin also traveled to Beijing with top security officials who the Russian president said Thursday would join informal talks on Ukraine. Beijing, which says it is neutral on the war, has repeatedly defended its trade with Russia as part of normal bilateral relations. Xi, analysts say, is seeking to keep Putin as a close partner, while not stepping over Western red lines. For that reason, she added, “he’s okay with on-going dependency between Russia and China – and with inequality in this relationship.”
Persons: Xi Jinping, Vladimir Putin’s, Xi, Putin, Putin’s, Andrey Belousov, Sergey Shoigu, “ Putin, he’s, Kurt Volker, , , Alexandra Prokopenko Organizations: Hong Kong CNN, United, , Israel, Hamas, Russian, Russian Security, Chinese Communist Party, Chinese Foreign Ministry, Observers, CNN, Carnegie Russia Eurasia Center Locations: Hong Kong, Beijing, United States, Taiwan, Gaza, Russian, China, , Russia, North Korea, Ukraine, China’s Harbin, Siberia, Europe
Given this outlook, the firm lifted its price target to $70 from $65, reflecting 24% upside from Thursday's close. — Samantha Subin 6:20 a.m.: Citi trims price target on Roblox, cites slower bookings growth Citi cut its price target on Roblox to $40 from $52 a share as the gaming platform grapples with a deceleration in bookings growth. "We are updating our model to account for 1Q24 results and our latest outlook," wrote analyst Jason Bazinet. For 2025, Citi now expects bookings growth of 14% versus 21%, or 4% below consensus. The firm expects bookings growth of 10% in 2026, which is 11% below consensus.
Persons: Macquarie, Jefferies, Reddit, Ronald Josey, OpenAI, Josey, – Samantha Subin, Mark McLaughlin, McLaughlin, — Samantha Subin, Jason Bazinet, DAUs, Bazinet, Craig Siegenthaler, Siegenthaler, Robinhood, — Fred Imbert, Morgan Stanley downgrades Baidu, Morgan Stanley, Gary Yu, Yu, Ellie Jiang, JD, Jiang, Laurence Alexander, Alexander Organizations: CNBC, DuPont, OpenAI, Bank of America, Citi, Baidu, Macquarie, Jefferies, DuPont de Nemours Locations: China, 3Q24, Robinhood, Underperform, Thursday's, JD.com
A top Wall Street analyst's stellar endorsement of TJX Companies makes us want to buy more shares of the discount retailer. Matt Boss of JPMorgan — Jim Cramer's favorite retail analyst — said Friday that several off-price retailers, including Ross Stores , Burlington Stores , and Club holding TJX, were buys. One possible catalyst for TJX stock is the company's quarterly earnings report this coming Wednesday before the opening bell. Part of the reason is also the growing appeal in off-price retailers and discounters as consumers in higher and higher income brackets seek value. "I continue to think that Costco is the stock to buy off of Walmart," Jim said Thursday.
Persons: Matt Boss, JPMorgan, Jim Cramer's, , Boss, HomeGoods —, Jim, TJX, Walmart's, Jim Cramer, Jeff Greenberg Organizations: TJX Companies, Ross Stores, Burlington Stores, JPMorgan, Walmart, Costco, TJX, CNBC, Universal, Getty Locations: Maxx, Port St Lucie , Florida
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewRep. Lauren Boebert made headlines with her show of support at former President Donald Trump's hush-money trial on Thursday, but has been conspicuously absent for her own son's court appearances, according to multiple reports. During the April hearing, Boebert was in Congress voting against the passage of the Sea Turtle Rescue Assistance and Rehabilitation Act, records show. Records show that the day before the May hearing, Boebert spoke in a House debate. Showing up to support Trump in court has become something of a pilgrimage for many GOP figures in recent weeks.
Persons: , Lauren Boebert, Donald Trump's, President Trump, Boebert, Stormy Daniels, Boebert's, Tyler, Tyler Boebert, He's, didn't Organizations: Service, Colorado congresswoman, Freedom Caucus, Business, Trump, Rescue Assistance, Rehabilitation, Daily Mail, Daily, The New York Times Locations: Manhattan, Denver, Colorado
According to prosecutors, the scheme began sometime in 2020 and used the stolen identities of about 60 US citizens. According to prosecutors, the scheme saw overseas workers apply for remote jobs at well-known US companies, including Fortune 500 companies. In exchange, prosecutors said in the indictment that Chapman charged the workers monthly fees for her services. In 2016, the US passed the North Korea Sanctions and Policy Enhancement Act, which aimed to improve the enforcement of sanctions against North Korea. The assistant director of the FBI's Counterintelligence Division, Kevin Vorndran, said in the press release that although the allegations may seem like "typical white-collar" crime, they represent a broader trend.
Persons: , Christina Marie Chapman, Chapman, Oleksandr Didenko, Nicole M, Argentieri, Kevin Vorndran Organizations: Service, US, Office, District of Columbia, Business, Fortune, Prosecutors, Social Security Administration, Department's, North Korea Sanctions, North, FBI's Counterintelligence Division Locations: Arizona, North Korea, Valley, American, Ukrainian
CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Dow breaks through 40,000 barrierThe Dow Jones Industrial Average briefly passed the 40,000 mark for the first time before ending lower. The S&P 500 and Nasdaq also hit record highs but ended the session in negative territory. The Dow has climbed nearly 6% in 2024, while the Nasdaq and S&P 500 are up 11% each. [PRO] New S&P 500 targetsWall Street's recent record highs have prompted market analysts to revise their S&P 500 year-end price targets.
Persons: Dow, John David Rainey, We've, Armour, Armour's, Kleiner Perkins, Bob Pisani Organizations: CNBC, Dow Jones Industrial, Nasdaq, Walmart, GameStop, AMC Locations: North America, Sequoia
It’s just the latest sign that the pilgrimage to Trump’s criminal trial in New York has become a new litmus test for Trump loyalty inside the GOP ahead of November. Then, the GOP members joined Trump in his motorcade – including the Republican candidate challenging GOP Rep. Bob Good, who has tried to cozy up to Trump after initially endorsing Florida Gov. President, we’ve got your back,” GOP Rep. Andy Ogles said outside the courthouse. Gaetz along with Boebert and GOP Rep. Anna Paulina Luna, who were all in New York on Thursday, missed the vote. GOP Rep. Marjorie Taylor Greene sparked outrage when she went after Democratic Rep. Jasmine Crockett’s appearance and Democratic Rep. Alexandria Ocasio-Cortez’s intelligence, with the committee meeting devolving into a heated sparring match.
Persons: Donald Trump, Trump’s, Trump, GOP Sen, Rick Scott of, Mike Johnson – who’s, “ There’s, It’s, it’s, Johnson, Lauren Boebert, Ralph Norman of, , Doug Burgum, Ohio Sen, J.D, Vance, Rick Scott, Vivek, Ramaswamy, Todd Blanche, Sen, We’ve, Eric, Bob Good, Ron DeSantis –, “ Mr, we’ve, Andy Ogles, ” Norman, , Matt Gaetz, Stormy Daniels, Andrew Kelly, Reuters Legislating, Merrick Garland, Joe BIden’s, Robert Hur –, Andy Biggs, Biden, Anna Paulina Luna, Marjorie Taylor Greene, Jasmine Crockett’s, devolving, haven’t, “ Greene, johnny, suzy, latelys, Greene –, , Boebert, Greene, “ Lauren Boebert, ” Boebert Organizations: CNN, Trump, he’s, GOP, Republicans, , North Dakota Gov, Manhattan Criminal, Caucus, Capitol, White House, Republican, Florida Gov, US Capitol Police, U.S, Reuters, Judiciary, Democratic Rep Locations: Manhattan, New York, Rick Scott of Florida, Colorado, Ralph Norman of South Carolina, Ohio, New York City, Trump, U.S, Capitol Hill, Israel, Gaza, Gaetz, Alexandria
"Lots to love next week, but, look, for many it's really just going to be about Nvidia," he said. Cramer said he's expecting a solid quarter from Macy's on Tuesday and that Lowes 's report that day should be well-received. Wednesday after the bell brings a report from Nvidia, which Cramer suggested is "perhaps the most important earnings report of the year." He noted that the company's last quarter was good, adding that the upcoming quarter could be more of the same. Cramer said he expects Deckers to have solid earnings as its running shoe brand, Hoka, continues to gain traction.
Persons: CNBC's Jim Cramer, Cramer, he's, Lowes, Ralph Lauren Organizations: Nvidia, Palo Alto Networks, Devices, Target, Williams, Walmart, V.F, Corp, Intuit, Ross Stores Locations: Macy's, Sonoma, Snowflake
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