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Washington CNN —Rising US home prices are heightening the housing affordability crisis for Americans, especially first-time buyers. Housing affordability takes into account prices, household incomes and mortgage rates. Sales fell in April for the second month in a row as mortgage rates surged past 7%. Mortgage rates track the yield on the 10-year US Treasury note, which moves in anticipation of the Fed’s decisions on interest rates. Low housing affordability typically crimps demand.
Persons: it’s, , Lawrence Yun, Freddie Mac Organizations: Washington CNN —, National Association of Realtors, Global, NAR, Federal Reserve, Fed, Treasury Locations: San Diego, Chicago, Detroit, America,
On May 14, President Biden announced a major escalation of the country’s emerging climate trade war with China, raising existing tariffs on Chinese electric vehicles to 100 percent — a unilateral quadrupling. A few days earlier, responding to reports of Biden’s plans, Donald Trump outdid him, promising tariffs of 200 percent should he win the 2024 election. Five years after blasting Trump for imposing tariffs on Chinese exports, Biden raised them — on aluminum, steel, lithium batteries, solar cells and semiconductors, among other products. In 2019, Chinese E.V. Nearly 60 percent of all the world’s E.V.s are now sold in China, which is home to three of the world’s four biggest E.V.
Persons: Biden, Biden’s, Donald Trump outdid, It’s, , Gaia, David Autor, Tesla, BYD Organizations: Trump, Democratic Locations: China, U.S, Washington, Chinese
Watch Wednesday's full episode of Fast Money — May 22, 2024
  + stars: | 2024-05-22 | 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 EmailWatch Wednesday's full episode of Fast Money — May 22, 2024"Fast Money" is America's post-market show. Hosted by Melissa Lee and a roundtable of top traders, "Fast Money" breaks through the noise of the day, to bring you the actionable news that matters most to investors.
Persons: Melissa Lee
Neighborhood names are also shorthand for your rent or mortgage payments. In 2017, real-estate brokers in the historically Black New York neighborhood of Harlem sparked backlash when they tried to rebrand its south end as SoHa. At their best, new neighborhood names bring people together over a shared sense of pride in their little corner of the world. Along the way, these neighborhood names have veered into parody territory. I'm not saying that neighborhood names should be set in stone — in fact, I think it's natural for them to evolve alongside their populations.
Persons: you've, MoRA, Nashville's, they're, Let's, Gill Holland, Holland, Nestor Davidson, David Fagundes, Grant McKenzie, McKenzie, Hakeem Jeffries, Jeffries, Davidson, They're, Bob Dylan's, Marshall, Lily, I'm, Willy, Dirtbag, Little Italy — Organizations: Market, McGill University, University of Maryland, Houston, Financial, Tribeca, McGill, Google, Democratic, New York State Assembly, New York Times, Apple, North Arts District, Congress, Little Locations: Denver, Charlotte , North Carolina, LoSo, Boston, Louisville , Kentucky, NuLu, Austin, America, New York City, Louisville, Holland, North Carolina, Greenwich, Louisville's, Phoenix, Holland's, York, New York, Manhattan, Side, Chelsea, Maryland, Harlem, SoCo, Soho, Dowisetrepla, Charlotte, East Williamsburg
Read previewTalks of a looming recession are flaring across Wall Street, but the savings war chest of baby boomers has staved off a US downturn. AdvertisementInstead, only the goods sector has shown signs of a growth recession, Yardeni said. But that's after the lockdown's hard-to-beat buying spree; today, goods spending remains at a record high when adjusted for inflation. Related storiesBut to Yardeni, they're the reason no consumer recession has appeared in the past two years, he separately wrote in April:"The Baby Boomers watched a lot of 'Star Trek' during the 1960s. AdvertisementMeanwhile, the baby boomer focus on service spending may also have deformed indicators, making things look gloomier than they are.
Persons: , Ed Yardeni, Yardeni Organizations: Service, Business, Financial Times, Boomers
Nicholas Kristof has spent his career reporting on difficult topics: genocide, war, famine. But decades in the field have not weakened his belief in humanity. In this audio essay, Kristof reflects on his life as a reporter and makes the case for hope. “Yes, there are very real challenges ahead,” he says. And yet, he argues, the United States “has a dynamism and inner strength that will allow America to survive.”(A full transcript of this audio essay will be available within 24 hours of publication in the audio player above.)
Persons: Nicholas Kristof, Kristof, , , United States “ Locations: United States, America
The Equinox EV is launching with higher-priced models that start at roughly $43,000 to $51,100 (without any incentives). The Equinox EV is arriving to market following the Blazer EV and alongside GM's more than $96,000 Silverado EV RST. Equinox EVAll of that being said, the Equinox EV is an Equinox in name only. Outside of the U.S., the Equinox EV will be sold in Canada, Mexico, the Middle East and some South American markets such as Brazil. GM's 2024 Chevrolet Equinox EV (right) next to a gas-powered Chevy Equinox on May 16, 2024 in Detroit.
Persons: Michael Wayland, Mark Reuss, Tesla, Kathleen Murawski, Chevy Bolt, It's, We've, Rory Harvey, we've, Marissa West, West, Paul Waatti, Waatti Organizations: CNBC DETROIT, General Motors, GM, CNBC, Chevy, GMC Hummer EV, Blazer, Global, Silverado EV RST, Silverado, GM North America, Chevrolet, Motors, EV Locations: Detroit, China, U.S, Canada, Mexico, Brazil
Prime Minister Rishi Sunak of Britain on Wednesday called a snap general election for July 4, throwing the fate of his embattled Conservative Party to a restless British public that appears eager for change after 14 years of Conservative government. But the Tories have discarded four prime ministers in eight years, lurching through the serial chaos of Brexit, the coronavirus pandemic and a cost-of-living crisis. With the opposition Labour Party ahead in most polls by double digits for the last 18 months, a Conservative defeat has come to assume an air of inevitability. “Now is the moment for Britain to choose its future,” Mr. Sunak said as pelting rain drenched his suit jacket. The choice for voters, he said, was to “build on the future you’ve made or risk going back to square one.”
Persons: Rishi Sunak, Sunak’s, Barack Obama, ” Mr, Sunak, Organizations: Conservative Party, Conservative, Downing, Labour Party Locations: British, Britain
Here are Wednesday's biggest calls on Wall Street: Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's sticking with its overweight rating on Tesla but says it's only a matter of time before others automakers begin to take advantage of AI also. Morgan Stanley reiterates Meta as overweight Morgan Stanley said that, as users adopt the company's Reels product it becomes a "monetization opportunity." Morgan Stanley reiterates Dell as a top pick Morgan Stanley said Dell remains a favorite name at the firm. Morgan Stanley reiterates McDonald's as overweight Morgan Stanley said it's standing by the fast-food chain. Morgan Stanley reiterates Ferrari as overweight Morgan Stanley said it's standing by its overweight rating on the automaker.
Persons: Morgan Stanley, Tesla, Piper Sandler, Piper, Meta, Dell, JMP, Oppenheimer, it's, Goldman Sachs, Goldman, Kraft Heinz, McDonald's, Rosenblatt, John Malone, Sportico, Morgan Stanley downgrades, Generac, Jefferies, Needham, Stryker, Ferrari, MSFT Organizations: GM, Ford, Nvidia, Blackwell, ODM, Lenovo, Dell, China Tech Hardware, Costco, " Bank of America, Bank of America, Kraft, Brunswick, UBS, Brunswick Corporation, Atlanta Braves Holdings, Deutsche Bank, Waste Management, Deutsche, Price, Jefferies, Prudential, Lincoln National, Microsoft, Garmin, of America Locations: Coinbase, Shopify
Wall Street will be keeping close watch on what Nvidia says about demand for its artificial intelligence chips when the market-moving chipmaker reports quarterly results after the bell Wednesday. Nvidia is expected to surpass expectations again, with analysts polled by LSEG calling for earnings of $5.59 per share on $24.65 billion in revenue. "As long as it tops analyst expectations, NVIDIA is likely to remain a key tailwind for the overall U.S. stock market." NVDA 1Y mountain Shares over the last year For multiple quarters, Nvidia has shocked Wall Street with the robust demand for its tools. "We continue to expect a strong beat-and-raise quarter from NVIDIA as Hopper demand remains robust before the Blackwell transition," wrote Morgan Stanley's Joseph Moore.
Persons: they've, Wolfe, Chris Senyek, Hopper, Blackwell, Morgan Stanley's Joseph Moore, Piper Sandler's Harsh Kumar, Rosenblatt's Hans Mosesmann, Baird's Tristan Gerra, Tom O'Malley, Baird's Gerra, Nvidia's Blackwell, America's Vivek Arya, Arya, Timothy Arcuri, Rosenblatt's Mosesmann, O'Malley, Morgan Stanley's Moore Organizations: Nvidia, NVIDIA, Blackwell, Barclays, Bank, America's, UBS Locations: Nvidia's
Alwy initiated coverage of Waste Management and Waste Connections with a buy rating on each. His $241 price target on Waste Management suggests 15.7% upside, and his $189 price target on Waste Connections implies the stock has roughly 14.4% to rise. This year, Waste Management shares are up 17.2%, while Waste Connections has added 11%. Waste Connections is planning to invest $150 million, most of which will be used for renewable natural gas, or RNG, projects, she said. With that price target, she expects shares could add 7.3%.
Persons: Alwy Organizations: Deutsche Bank, Waste Management, Waste, Services, Casella Waste Systems Locations: American, North America
More than half of Americans think the United States is in an economic recession, although gross domestic product has been increasing for the past several years. According to a new Guardian/Harris poll, 56% of respondents said they believe the U.S. is in a recession and 58% say that President Joe Biden is responsible for what they see as an economic downturn. A recession is an extended period of economic decline, usually designated when GDP has declined for two or more consecutive fiscal quarters. U.S. GDP growth has been outpacing that of other developed nations. The Guardian/Harris poll is yet another example of an ongoing gap between economic data and economic feelings that has nagged the Biden administration in recent months.
Persons: Kristen Visbal, Harris, Joe Biden, Biden, NBC's Organizations: New York Stock Exchange, Guardian Locations: New York City, United States, U.S, ., America
Drew Angerer | Getty ImagesThis reported column is Part Two of Eamon Javers' two-part series on the new, conservative economic populism gaining ground among Republicans close to former President Donald Trump. In Part One, Javers introduces readers to the new, conservative economic populism gaining ground among Republicans close to former President Donald Trump. Senator Republican Marco Rubio gives a speech at the Conservative Political Action Conference (CPAC) in Orlando, Florida, February 25, 2022. Cass counts among his allies several well respected conservative economic thinkers. "It's economic policy that emerges not from good economics, but from politics and the culture war and what your base wants," he said.
Persons: Vance, Sen, Josh Hawley, Drew Angerer, Eamon Javers, Donald Trump, Javers, WASHINGTON —, Trump, Sohrab Ahmari, Ahmari, Donald Trump's, , We've, Oren Cass, , Marco Rubio, Tom Cotton, Republican Marco Rubio, Octavio Jones, Cass, Robert Lighthizer, Lighthizer, James Pethokoukis, Pethokoukis, Joe Biden —, Biden, Kahn, Lina Kahn, Lina Khan, Tom Williams Organizations: Republican, U.S, Senate, GOP, Wall Street Journal, Security, African American, Trump coalition, National Labor Relations, American, Conservative Political, Reuters, CNBC, United States Trade, Trump, American Enterprise Institute, Democratic, Big Tech, Biden's Federal Trade Commission, Financial Services, General Government, Federal Trade Commission, Cq, Inc, Getty Locations: Ohio, Cuyahoga Falls , Ohio, America, Washington, Ukraine, Vance ( Ohio, Fla, Mo, Washington . U.S, Orlando , Florida, Biden's, Rayburn
Trump VP Doug Burgum oil correction
  + stars: | 2024-05-21 | by ( ) www.cnbc.com   time to read: 1 min
This story has been updated to reflect the correct spelling of Make America Great Again Inc. and the correct spelling of Ryan Kellogg's name.
Persons: Ryan Kellogg's Organizations: Inc
YouTube YouTube TikTok TikTok TikTok TikTok YouTube Visual Investigations How a Haitian Gang Is Trying to Turn Itself Into a Militia Dozens of 5 Segonn members dance in a music video. It’s typically carried by militaries and hasn’t been seen being used before by the 5 Segonn gang. It’s typically carried by militaries and hasn’t been seen being used before by the 5 Segonn gang. A group of 5 Segonn gang members dressed in tactical gear. TikTok TikTok TikTok TikTok YouTube YouTube YouTube TikTok TikTok On social media, Izo often posts videos of himself dancing and drinking.
Persons: hasn’t, Jovenel Moïse, Ariel Henry, Johnson André, TikTok, Izo, They’ve, Gustavo Petro, Moïse’s, Dimitri Hérard, Hérard, Izo’s Organizations: YouTube YouTube, Kenyan, The New York Times, Gang, PORT, PRINCE, Prince Bay Gang, Prince, Global, Transnational, Rights, Human Rights Defence Network, Human Rights, Integrated, YouTube, of, Los Angeles Crips, Toyota, Haitian National Police, Haitian Army, Times, Associated, The Justice Department, State Department, Facebook Locations: Belgian, Haiti, Port, Dominican Republic, Prince Bay HAITI, PRINCE HAITI, U.S, America, Dieu, Izo’s, United States, Colombia, Haitian, South, Central America, Brazil, Latin America, Europe, Izo, Western
Broadcom boss Hock Tan is the highest-earning CEO in the US, per a Wall Street Journal analysis. But Tan has to fulfill certain criteria to get his full $162 million pay package. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAmerica's highest-paid CEO isn't Apple's Tim Cook, Tesla's Elon Musk, or Meta Platforms' Mark Zuckerberg — it's Broadcom's Hock Tan, The Wall Street Journal found in an analysis published this week. Tan was awarded $162 million in compensation last year, but it comes with a catch: he'll only receive the full amount if his company's stock hits a certain level by 2025, the WSJ said.
Persons: Hock Tan, Tan, Nikesh Arora, Steve Schwarzman, , isn't, Tim Cook, Tesla's Elon, Mark Zuckerberg, Broadcom's Hock Tan Organizations: Broadcom, Palo Alto Networks, Service, Journal, Business
"I don't feel so bad for Gen Z and millennials," Dimon said, adding that his grandparents were Greek immigrants who arrived in the US with nothing but "a shirt on their back." "They're going to be working probably 3.5 days a week. They're going to live to 100. They're going to be in pretty good shape, provided the world doesn't destroy it all with nuclear weapons, which is the biggest risk in the world." Related storiesDimon added that in the decades ahead, younger generations would inherit trillions of dollars and benefit from mammoth investments in healthcare, education, and other areas.
Persons: , they've, Jamie Dimon, Dimon, They're, Gen, Xers — Organizations: Service, Business, AlphaSense Locations: America
Here are the biggest calls on Wall Street on Tuesday: Morgan Stanley reiterates Tesla as overweight Morgan Stanley made the case in a note to investors that Elon Musk needs Tesla "more than ever before." Citi initiates Ferrovial at buy Citi said it's bullish on shares of the Dutch infrastructure and transportation company. Citi reiterates Dell as buy Citi raised its price target on the stock by 36% to $170 per share from $125. Morgan Stanley reiterates Apple as overweight Morgan Stanley said its checks show accelerating App Store growth ahead of expectations for Apple. Morgan Stanley names Taiwan Semiconductor a catalyst-driven idea Morgan Stanley said TSM is a likely beneficiary of a solid Nvidia earnings report on Wednesday.
Persons: Morgan Stanley, Tesla, Elon, Raymond James, Baird, it's, Evercore, Piper Sandler downgrades Sunnova, Piper, Brinker, Argus, Apple, TSM, NVDA, it's bullish, Lenz, LENZ Organizations: Elon, Caesars Entertainment, Penn, Penn Entertainment, Boyd Gaming Corporation, Inc, PENN Entertainment, JPMorgan, Therapeutics, Citi, Nvidia, Sunnova, Disney, Dell, Barclays, HP, Brinker International Inc, Apple, Taiwan Semiconductor, Gap Citi, GPS, " Bank of America, Lenz Therapeutics, Bank of America, Deutsche Bank, Deutsche, Recovery Software
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In August 2017, a Trump Tower event meant to provide updates about Trump's infrastructure plan became dominated by his response to the violence in Charlottesville. And in February 2018, Trump's infrastructure proposal took a back seat amid accusations of misconduct by two close aides. But after the election, Trump invited a broad array of tech leaders to Trump Tower and expressed a desire to work with them on innovation. In 2020, several tech leaders — including Cook — were critical of Trump's visa restrictions that would impact highly-skilled foreign workers in the industry.
Persons: , Donald Trump, Hillary Clinton, Trump, Steve Mnuchin, Goldman Sachs, Gary Cohn, Wilbur Ross, Trump's, Elon Musk, Heather Heyer, Andrew Harnik, I've, Kenneth Frazier, Kevin Plank, 3M's Inge Thulin, Brian Krzanich, , Jim Comey, we've, Senate — Trump, Joe Biden, Tim Cook, Manuel Balce Ceneta, he'd, Jeff Bezos, Biden, Cook, Cook — Organizations: Service, White, National Economic Council, Business, Democrats, GOP, Tesla, AP, Merck, American Manufacturing Council, Policy, Trump, House, Republicans, Senate, Amtrak, Apple, Twitter, Democratic Locations: United States, Charlottesville, Va, weren't, Paris
Gantz said he would leave the government if there was no plan by June 8. Here are the stakes for America in what these ministers are saying: Netanyahu has become a radical actor, undermining key U.S. interests and Arab allies, and becoming the gift that keeps on giving for Iran. Just look at the policy choices Netanyahu has made and tell me with a straight face that he has not let Israel be completely outmaneuvered by Iran. All of this has happened on Bibi’s watch. But now Netanyahu is busy doing something even more dangerous for Israel’s future — and for America.
Persons: Benjamin Netanyahu’s, Yoav Gallant, Benny Gantz —, Netanyahu, Gantz, Israel Organizations: , America, Muslim, Palestinian Authority, West Bank Locations: Israel, Gaza, Iran, Oslo Accords
Watch Tuesday's full episode of Fast Money — May 21, 2024
  + stars: | 2024-05-21 | 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 EmailWatch Tuesday's full episode of Fast Money — May 21, 2024"Fast Money" is America's post-market show. Hosted by Melissa Lee and a roundtable of top traders, "Fast Money" breaks through the noise of the day, to bring you the actionable news that matters most to investors.
Persons: Melissa Lee
WASHINGTON — The first Trump presidency shattered conservative economic ideology on the Republican Party's approach to free markets and tariffs. Source: AmericanCompass.org To be clear, this is not yet the dominant strain of Republican economic thinking in Washington. Cass argues that Republican economic policy has been focused on the wrong goals: lowering prices and increasing consumption. "It was absolutely black letter economic doctrine that the point of economic policy was to consume as much as possible. watch now"Spinning assets in circles creates nothing of value, and in fact creates the opposite of value," Cass said.
Persons: Donald Trump, Brendan Mcdermid, Eamon Javers, WASHINGTON —, Trump, Trump's, Sohrab Ahmari, Ahmari, elitists, Bud Light, Oren Cass, Cass, Michael Wayland, CNBC Cass, , Biden, Pennsylvania Republican Sen, Pat Toomey Organizations: Reuters, WASHINGTON, Trump, Republican, GOP, Wall Street, Amazon, Starbucks, U.S . Chamber of Commerce, Block, Development Bank, Environmental, American, Bronco, Ford's, Ford's Michigan Assembly, CNBC, Wall, Pennsylvania Republican Locations: Freeland , Michigan, U.S, America, Washington, China, Block, Ford's Michigan, Cass, Pennsylvania
Wall Street expects a continued increase in Nvidia's AI chip sales ahead of its next-gen Blackwell chip release. Here's what Wall Street expects from Nvidia's upcoming earnings report. Deutsche Bank: "AI leadership to continue"Deutsche Bank said it fully expects Nvidia to deliver "healthy multi-billion dollar beats/raises on still healthy demand for AI compute." However, the bank sees much of that strength already priced into the stock, leading the firm to believe that Nvidia stock is "fully valued." Bloomberg Intelligence: "Nvidia has more levers to attack the market"Bloomberg Intelligence analyst Oscar Hernandez Tejada said in a recent note he fully expects Nvidia to report "a solid beat and raise" on Wednesday, arguing that "Nvidia's AI demand train running at full speed."
Persons: , Wells, Aaron Rakers, Rakers, Taiwan Semiconductor bode, Vivek Arya, Blackwell, Arya, NVDAs, Oscar Hernandez Tejada, Tejada Organizations: Nvidia, Service, ChatGPT, Nvidia's, Blackwell, GPU, Data, Super Micro Computer, Taiwan Semiconductor, Bank of America, Deutsche Bank, Bloomberg Intelligence, Bloomberg Locations: Wells Fargo, Wells, China
We've got you covered if you're looking for how to score tickets to Tate McRae's 2024 Think Later World Tour. Tate McRae 2024 tour scheduleWith over 20 concerts already down, Tate McRae still has more than 40 shows left in her 2024 world tour. How to buy tickets for Tate McRae's 2024 concert tourYou can buy original tickets to Tate McRae's Think Later World Tour on Ticketmaster and Live Nation. Tate McRae tickets are also available to purchase through verified resale ticket vendors such as StubHub and Vivid Seats. The opening act for Tate McRae's 2024 tour dates in Asia has not been announced yet.
Persons: Tate McRae, McRae, She'll, We've, Irving, Rogers, Tate, Presley, she'll Organizations: Business, Tate, Boston, New, Ticketmaster, North Locations: Dublin, Ireland, Europe, North America, Asia, Oceania, Wellington , New Zealand, U.S, Madrid, Spain, Lisbon, Portugal, Calgary, AB, Canada, Woodinville, WA, San Francisco, Los Angeles, CA, Phoenix, AZ, Austin, Houston, Cincinnati, Toronto, ON, Sterling Heights, MI, Maryland, Minneapolis, Chicago, Nashville, TN, Indianapolis, Boston, Uncasville, Washington, Philadelphia, Raleigh, NC, Atlanta, Holmdel, NJ, New York City, NY, Tokyo, Japan, Singapore, Bangkok, Thailand, Quezon City, Philippines, Perth, Australia, Brisbane, Sydney, Adelaide, Melbourne, Auckland , New Zealand
New York CNN —Major business leaders and economists are worried about America’s growing debt problem. Last week, JPMorgan CEO Jamie Dimon expressed fear that a crisis is looming and that unchecked deficit spending could explode. The big picture: Between the Trump-era tax cuts and Covid-era stimulus programs, the national debt has exploded in recent years. Trump Media (DJT) reported a loss of $327.6 million during the first three months of the year, compared with a loss of $210,300 a year earlier. The company generated just $770,500 of revenue, marking the second-straight quarter where its revenue totaled less than $1 million.
Persons: Jamie Dimon, , ” Dimon, , Ray Dalio, Columbia Business School Glenn Hubbard, Joe Biden’s, Jason Thomas, Carlyle, ” Thomas, Hanna Ziady, Liz Truss, Treasuries, Hubbard, Thomas, it’s, Donald Trump, Matt Egan, Devin Nunes, Martin Gruenberg, Elisabeth Buchwald, ” Gruenberg, Sen, Sherrod Brown,  Gruenberg, He’s, Cleary Gottlieb Steen, Gruenberg’s, Gruenberg Organizations: CNN Business, Bell, New York CNN —, JPMorgan, Sky News, Financial, Columbia Business School, United, CNN, IMF, Congressional, Office, Peterson Foundation, Treasury, Trump Media, Trump Media & Technology Group, Truth Social, Company, Big Tech, ” Trump Media, Federal Deposit Insurance Corporation, Senate Banking Committee, FDIC, Hamilton Locations: New York, Bridgewater, United States, , United, United Kingdom
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