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☆ Treasury yields inch higher ahead of April jobs report
▼ + stars: | 2024-05-03 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

One basis point is equivalent to 0.01%. ET, the yield on the 10-year Treasury was up by more than one basis point to 4.5814%. The 2-year Treasury yield was last over one basis point higher to 4.8891%. U.S. Treasury yields were slightly higher on Friday as investors awaited key labor market data that could provide hints about the state of the economy. Investors looked ahead to the April jobs report, which investors will be scanning for clues about whether the labor market is easing or remaining resilient.

Persons: Dow Jones Organizations: Treasury, U.S, Investors, Federal Reserve

☆ I’m a nutritionist from a small California city that's home to America’s longest living people: Here's what I eat every day
▼ + stars: | 2024-05-03 | by ( Eliza Cheng | ) www.cnbc.com time to read: +4 min

I was born and raised, and currently live, in a small city in California called Loma Linda. As a dietitian and nutritionist here, I think a lot about how the foods we eat can help us feel better and thrive into our old age. Here is everything I eat in a day to help promote longevity and overall well-being. Whole grains can help keep your blood sugar levels stable because they are absorbed more slowly into the body. If I opt for soft tofu, I'll cut it into cubes, drizzle it with Vietnamese Hoisin sauce, and sprinkle it with furikake, a seasoning made from nori seaweed, sesame seeds, sugar and salt.

Persons: Stanley, bok choy Organizations: Linda, Studies Locations: California, U.S, America

☆ Wouldn't hold my breath for Apple AI developments: Yonder Consulting
▼ + stars: | 2024-05-03 | 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 EmailWouldn't hold my breath for Apple AI developments: Yonder ConsultingManfred Abraham, CEO of Yonder Consulting, helps dissect Apple's earnings, its plans for AI, and the biggest share buyback in U.S. history.

Persons: Manfred Abraham Organizations: Yonder Consulting

☆ Here's what's driving Friday's stock action in Apple, Coterra and Eli Lilly
▼ + stars: | 2024-05-03 | by ( Morgan Chittum | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. "This is the kind of number you need that basically says the Fed is doing their job," Jim Cramer said. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Coterra, naysayers, Eli Lilly, drugmaker Amgen, we're, Jim Cramer's, Jim Organizations: CNBC, Club, Apple, Coterra Energy, Mizuho Securities

☆ European markets head for higher open as earnings remain in focus
▼ + stars: | 2024-05-03 | by ( Jenni Reid | ) www.cnbc.com time to read: 1 min

European stock markets are set to open in the green on Friday, rounding off a broadly negative week dominated by corporate earnings. The Stoxx 600 index has finished lower for the past three sessions as investors digested a slew of results from the biggest companies in Europe and the U.S.On Friday, those included French banks Société Générale , which reported a smaller-than-forecast decline in first-quarter profit, and Crédit Agricole , which saw a leap in net profit. Data is due on U.K. retail sales, Turkey's inflation rate, French industrial production and Spanish employment.

Organizations: U.S, Crédit Agricole Locations: Europe

☆ Berkshire Hathaway’s big mystery stock wager could be revealed soon
▼ + stars: | 2024-05-03 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

Berkshire Hathaway , led by legendary investor Warren Buffett, has been making a confidential wager on the financial industry since the third quarter of last year. The identity of the stock — or stocks — that Berkshire has been snapping up could be revealed Saturday at the company's annual shareholder meeting in Omaha, Nebraska. So the 93-year-old Berkshire CEO may decide to explain his rationale to the thousands of investors flocking to the gathering. The bet, shrouded in mystery, has captivated Berkshire investors since it first appeared in disclosures late last year. Under Buffett, Berkshire has trounced the S&P 500 over nearly six decades with a 19.8% compounded annual gain, compared with the 10.2% yearly rise of the index.

Persons: Berkshire Hathaway, Warren Buffett, Buffett, —, Bill Stone Organizations: Glenview Trust Co, Buffett Locations: Berkshire, Omaha , Nebraska, U.S, Glenview

☆ What borrowers need to know as the Public Service Loan Forgiveness program goes on a partial processing pause
▼ + stars: | 2024-05-03 | by ( Annie Nova | ) www.cnbc.com time to read: +1 min

Fg Trade | E+ | Getty ImagesThe popular Public Service Loan Forgiveness program began a partial processing pause on May 1, which will likely run through July, the U.S. Department of Education recently said. The temporary suspension comes as the Biden administration overhauls the once-troubled federal student loan program. Why the pause is happeningWhat borrowers can expect during the transitionThe Education Department will not review PSLF form submissions for roughly a two-month period, it says. Meanwhile, from May 1 through July, it says, "borrowers will not be able to see their PSLF payment counts on MOHELA's website." "During the transition, PSLF forgiveness will be suspended," said higher education expert Mark Kantrowitz.

Persons: Biden, Mark Kantrowitz Organizations: Public, U.S . Department of Education, Education Department

☆ Opinion | What Would Happen if the U.S. Suddenly Seemed Like a Risky Investment?
▼ + stars: | 2024-05-03 | by ( Peter Coy | ) www.nytimes.com time to read: +1 min

Financially speaking, the United States has been a Teflon nation. Bad things happen — near defaults, giant budget deficits, a Capitol invasion — but nothing sticks for long. If the United States becomes dysfunctional enough, global investors will rationally conclude that the safe haven isn’t safe anymore. Financing costs in the United States will rise, economic growth will slow, and living standards will fall short of expectations. “Promoting democracy is also good economic policy.” I assume her speech is at least partly politically motivated, but I also think she’s right.

Persons: Janet Yellen, ” Organizations: Capitol Locations: United States, Canada, Germany, Japan, China, Arizona

Representative Henry Cuellar, Democrat of Texas, and his wife were charged with participating in a yearslong $600,000 bribery scheme involving Azerbaijan and a Mexican bank, according to a federal indictment unsealed in Houston on Friday. Mr. Cuellar, 68, and his wife Imelda, 67, are accused of bribery and money laundering in connection with their efforts on behalf of a bank based in Mexico City and an energy company owned by Azerbaijan, according to the 54-page complaint. Mr. Cuellar is also accused of acting as an agent of a foreign entity while serving as a U.S. government official. Payments made from 2014 to 2021 were laundered through “sham consulting contracts,” front companies and shell companies owned by Mrs. Cuellar, who performed “little to no legitimate work” under the contracts, lawyers with the Justice Department’s criminal division wrote.

Persons: Henry Cuellar, Mr, Cuellar, Imelda, . Cuellar Organizations: Justice Locations: Texas, Azerbaijan, Mexican, Houston, Mexico City, U.S

☆ Yen poised for best week in over a year; dollar waits on U.S. jobs data
▼ + stars: | 2024-05-03 | by ( ) www.cnbc.com time to read: +3 min

Elsewhere, the dollar lost ground against most of its peers and was headed for its worst week in nearly two months, in part due to the sharp rise in the yen this week. The euro ticked up 0.05% to last trade at $1.0730, and was eyeing a weekly gain of 0.35%. "Recent Fed speech has acknowledged the lack of progress on inflation and the desire to maintain the current level of policy rates for longer. Down Under, the Australian dollar edged 0.07% higher to $0.6570, and was on track to gain nearly 0.6% for the week. The New Zealand dollar tacked on a marginal 0.03% to $0.5963, and was eyeing a 0.4% weekly gain.

Persons: Tokyo's, Vishnu Varathan, Jerome Powell, Sterling steadied, Tai Hui Organizations: Traders, Bank of Japan, Ministry of Finance, Mizuho Bank, Federal, Fed, Morgan Asset Management, New Zealand Locations: Asia, tenterhooks, Tokyo, Japan

☆ Talent war between family offices and Wall Street drives up salaries
▼ + stars: | 2024-05-03 | by ( Robert Frank | ) www.cnbc.com time to read: +5 min

"There's a real war for talent within family offices," said William Sinclair, U.S. head of J.P. Morgan Private Bank's Family Office Practice. According to the report, which surveyed 190 family offices with average assets of $1.4 billion, family offices that manage less than $500 million spend an average of $1.5 million a year for operating costs. Family offices between $500 million and $1 billion spend an average of $2.7 million, and those above $1 billion average $6.1 million. The biggest cost is staffing, which has become more expensive as family offices have tripled in number over the past five years. "If you look back 15 years ago, family offices were where people went to retire and have work-life balance," he said.

Persons: Robert Frank, William Sinclair, Morgan, We've, Trish Botoff, Botoff, Carlyle, Paul Westall, Westall, that's Organizations: Morgan Private Bank Global, Botoff Consulting, KKR, Blackstone, Agreus Locations: U.S

☆ Help Wanted: Immigrants fueling U.S. workforce
▼ + stars: | 2024-05-03 | by ( Kate Rogers | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHelp Wanted: Immigrants fueling U.S. workforceCNBC’s Kate Rogers on the boost immigrant workers have given to the U.S. economy over the last several years.

Persons: Kate Rogers Locations: U.S

☆ Americans would rather live a shorter life in good health than a longer life with health issues, new poll finds
▼ + stars: | 2024-05-03 | by ( Renée Onque | ) www.cnbc.com time to read: +3 min

It seems like everyone wants to live longer these days. But a recent survey found that Americans are no longer just looking for ways to live longer: they want to be healthier while doing so. In a poll of 2,200 American adults, Medtronic and Morning Consult asked participants if they would prefer to live a shorter, healthier life or a longer life with health issues. The results show that 62% agree or partly agree with feeling concerned that they won't be as healthy or will be in pain if they live a longer life. The actions that people say they're taking to increase their lifespan are eating healthy, exercising and taking preventative health measures.

Persons: Thomas Perls, Perls Organizations: Centers for Disease Control, Boston University Chobanian, Avedisian School of Medicine, CNBC Locations: U.S, England

The U.S. government’s landmark antitrust trial against Google’s search business is nearing its conclusion. Under the Trump administration, the Justice Department and the Federal Trade Commission started investigating Amazon, Apple, Google and Meta, the parent company of Instagram and WhatsApp, for monopolistic behavior. The government has since sued all four companies — Google twice — in what it says is an effort to rein in their power and promote more competition. Closing arguments wrap up on Friday in Google’s first antitrust suit on allegations that it has a monopoly in internet search. and 17 states sued Amazon, accusing it of protecting a monopoly by squeezing sellers on its vast marketplace and favoring its own services.

Persons: Trump Organizations: U.S, Justice Department, Federal Trade Commission, Apple, Google, Big Tech, Amazon Locations: Google’s

For the first time in the history of the United States, billionaires had a lower effective tax rate than working-class Americans. Opinion Guest Essay Make Billionaires Pay (Their Taxes)Until recently, it was hard to know just how good the superrich are at avoiding taxes. Let’s agree that billionaires should pay income taxes equivalent to a small portion — say, 2 percent — of their wealth each year. Billionaires who already pay the baseline amount of income tax would have no extra tax to pay. The idea that billionaires should pay a minimum amount of income tax is not a radical idea.

Persons: Emmanuel Saez, Gabriel Zucman, we’ve, Demetrio Guzzardi, Jeff Bezos, Bezos, Berkshire Hathaway, Warren Buffett, Elon Musk, Bernard Arnault, Arnault’s, Arnault, Reagan, Critics, haven’t, Biden Organizations: Government, Social Security, European Economic Association, Institut des Politiques, Economic, Amazon, Elon, Twitter, Shepard, Getty, Trump, Internal, Abaca, New York, Facebook Locations: United States, Netherlands, States Netherlands Italy France, Italy, France, Tesla, LVMH, America, Europe, Sweden, Germany, Switzerland, U.S, Brazil, South Africa, Spain

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTesla's big gamble: Full Self-Driving in the wildFull Self-Driving, or FSD, is one of the most controversial parts of Elon Musk's Tesla strategy, with regulators calling the branding misleading and dangerous. But love it or hate it, Tesla has unleashed FSD, with a free trial for millions of U.S. drivers. That means more data -- an essential component to any company trying to develop autonomous driving. Tesla's approach to gathering all that data could prove all of Musk's naysayers wrong, or leave it continuing to play catch up with more advanced self-driving tech. This week on TechCheck, Tesla's big FSD gamble.

Persons: Elon Musk's Tesla, Tesla, Musk's Locations: Elon, U.S

☆ Guo Wengui chief of staff Yvette Wang pleads guilty to $1 billion fraud conspiracy in New York
▼ + stars: | 2024-05-03 | by ( Dan Mangan | ) www.cnbc.com time to read: +1 min

Fugitive Chinese billionaire Guo Wengui hold a news conference on November 20, 2018 in New York, on the death of of tycoon Wang Jian in France on July 3, 2018. The chief of staff to controversial exiled Chinese businessman Guo Wengui pleaded guilty in New York on Friday to a fraud conspiracy that swindled more than $1 billion from hundreds of thousands of victims around the world, prosecutors said. Yvette Wang's plea came weeks before the 53-year-old Guo is set to stand trial in Manhattan federal court for related charges. Wang was scheduled to stand trial with Guo in that case before her plea. She faces a maximum possible sentence of 10 years in prison for the charges of conspiracy to commit wire fraud, and conspiracy to commit money laundering.

Persons: Guo Wengui, Wang Jian, Yvette Wang's, Guo, Wang, Steve Bannon, Damian Williams Organizations: Trump White House, Manhattan U.S Locations: New York, France, Manhattan, United States

☆ Lithium giant Albemarle’s plans to reopen a rich mine in North Carolina will take years to complete
▼ + stars: | 2024-05-03 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Albemarle 's plans to reopen a resource rich lithium mine in North Carolina will take longer than originally expected as a collapse in lithium prices weighs on the company. Albemarle, a top lithium producer, had originally planned to reopen the Kings Mountain mine as early as late 2026 to increase domestic lithium production and support a U.S. electric vehicle battery supply chain. Kings Mountain could produce enough material to manufacture 1.2 million electric vehicles annually. There is currently only one operational lithium mine in the U.S. in Silver Peak, Nevada, which is owned by Albemarle. Albemarle does not have a precise date for when Kings Mountain will become operational, Norris said.

Persons: Albemarle, Eric Norris, It's, we've, Norris Organizations: CNBC, Kings Locations: North Carolina, Albemarle, U.S, Silver, , Nevada, Albemarle . Albemarle

☆ Trump trial resumes after infamous Cohen phone call tape is played for jury
▼ + stars: | 2024-05-03 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +3 min

Former U.S. President Donald Trump attends the first day of his trial for allegedly covering up hush money payments at Manhattan Criminal Court on April 15, 2024 in New York City. The lawyer, Keith Davidson, negotiated six-figure hush money deals for porn star Stormy Daniels and former Playboy model Karen McDougal ahead of the 2016 presidential election. On the night Trump won that election, Davidson texted the Enquirer's then-editor in chief, "What have we done?" But he added that he and the top editor, Dylan Howard, understood at the time that "our activities may have in some way assisted the presidential campaign of Donald Trump." Jurors heard a recording of Trump saying asking Cohen, "So what do we got to pay for this — 150?"

Persons: Donald Trump, Keith Davidson, Stormy Daniels, Karen McDougal, Trump, Daniels, Attorney Alvin Bragg, Judge Juan Merchan, Merchan, Davidson, Trump's, Michael Cohen, David Pecker, Dylan Howard, Douglas Daus, Cohen, McDougal Organizations: U.S, Manhattan Criminal, Prosecutors, New, Trump, Manhattan, Attorney, National Enquirer, American Media Locations: New York City, New York

☆ Tech stocks still attractive in long term, UBS Wealth Management CIO says
▼ + stars: | 2024-05-03 | 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 EmailTech stocks still attractive in long term, UBS Wealth Management CIO saysMark Haefele, CIO at UBS Global Wealth Management, discusses the outlook for the U.S. economy and markets.

Persons: Mark Haefele Organizations: Tech, UBS Wealth Management, UBS Global Wealth Management Locations: U.S

☆ Fed and ECB divergence on rate cuts could spell trouble for the euro, economist says
▼ + stars: | 2024-05-03 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +2 min

The prospect of the European Central Bank diverging from the Federal Reserve on interest rate cuts is likely to be "particularly negative" for the 20-nation euro zone, according to one economist. The ECB appears on course to cut interest rates in June, barring any major surprises, and recent inflation data has since bolstered the case for an imminent reduction in borrowing costs. It leaves the ECB firmly on track to cut interest rates before the Fed. "The problem of cutting rates right now is that the ECB takes for granted the strength of the euro . Lacalle said a June rate cut from the ECB was not going to make German, French or Spanish businesses take more credit "because a small rate cut is not the driver of credit demand."

Persons: Christine Lagarde, Daniel Lacalle, Gestion, CNBC's, Lacalle Organizations: European Central Bank, ECB, Federal Reserve, CNBC Locations: Frankfurt, Germany, U.S

☆ Campus Protests After Day of Arrests, Demonstrations Appear More Muted
▼ + stars: | 2024-05-03 | by ( John Yoon | ) www.nytimes.com time to read: +5 min

Image Students at Rutgers University’s campus in New Brunswick, N.J., dismantled their tents on Thursday. But he also indicated that talks the administration had begun holding with student protesters on Wednesday had been fruitful. The move at Rutgers follows similar deals that Brown University and Northwestern University struck earlier this week to end encampments there. Some Jewish groups voiced outrage about those agreements, calling them a capitulation to demonstrators who had created a hostile environment on campus. She noted that the deal had been reached without any arrests on campus, unlike at some other universities across the country where violence has erupted.

Persons: Mary Ann Koruth, Jonathan Holloway, Dr, Holloway, kaffiyehs, Hana Hassan, Hassan, “, ”, Todd Wolfson, Mr, Wolfson Organizations: Rutgers University’s, ., Content Services, Palestinian, Rutgers University, Rutgers, Brown University, Northwestern University, University of Florida, Hillel International, Jewish, University, New, Tel Aviv University, New Brunswick campus’s, Justice, U.S . Education Department, university’s Center, Islamic Locations: New Brunswick, N.J, Israel, Middle, Voorhees, Palestine, New Jersey

☆ U.S. job growth totaled 175,000 in April, much less than expected, while unemployment rose to 3.9%
▼ + stars: | 2024-05-03 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Signage at a job fair at Brunswick Community College in Bolivia, North Carolina, US, on Thursday, April 11, 2024. The U.S. economy added fewer jobs than expected in April while the unemployment rate rose, reversing a trend of robust job growth that had kept the Federal Reserve cautious as it looks for signals on when it can start cutting interest rates. The unemployment rate ticked higher to 3.9% against expectations it would hold steady at 3.8%. Average hourly earnings rose 0.2% from the previous month and 3.9% from a year ago, both below consensus estimates and an encouraging sign for inflation. The jobless rate tied for the highest level since January 2022.

Persons: Dow Jones Organizations: Brunswick Community College, Reserve, Dow Locations: Bolivia , North Carolina, U.S

☆ Uranium Energy Corp CEO: U.S. needs to drill down on increasing uranium production
▼ + stars: | 2024-05-03 | 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 EmailUranium Energy Corp CEO: U.S. needs to drill down on increasing uranium productionAmir Adani, CEO of Uranium Energy Corp., joins CNBC's 'The Exchange' to share how his company is reopening mines, outlooks on U.S. uranium production, and more.

Persons: Amir Adani Organizations: Uranium Energy Corp

☆ Political Furor Over U.S. Steel Bid Puts Investment Panel in Spotlight
▼ + stars: | 2024-05-03 | by ( Alan Rappeport | ) www.nytimes.com time to read: 1 min

At a campaign event last month in Pennsylvania, the heartland of American steel manufacturing, President Biden made clear that he does not want the proposed takeover of U.S. Steel by Japan’s Nippon Steel to happen. “We’re finally making sure that United States Steel stays United States Steel,” Mr. Biden said. “It’s not going to be anybody else’s steel.”How that promise will be kept has yet to be determined. U.S. Steel said this week in its first-quarter earnings release that it expected the acquisition to be completed in the second half of this year, but noted that timing depended on getting regulatory approvals. On Friday, Nippon Steel said that it was delaying its timeline for the deal to close, from the middle of the year to the end of 2024, because it had been asked to provide more information about the transaction to the Department of Justice, which is reviewing the deal.

Persons: Biden, “ We’re, Mr, “ It’s Organizations: U.S, Steel, Japan’s Nippon Steel, United States Steel, . Steel, Nippon Steel, Department of Justice Locations: Pennsylvania

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