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☆ Tesla hits $1 trillion market cap as stock rallies after Trump win
▼ + stars: | 2024-11-08 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: 1 min

Elon Musk on stage before Republican presidential nominee former President Donald Trump speaks at a rally at Madison Square Garden in New York, NY on Sunday, October 27, 2024. Shares of Tesla climbed more than 5% in mid-morning trading Friday, pushing the electric vehicle maker's market cap past $1 trillion for the first time. The company's stock has rallied about 27% this week after President-elect Donald Trump won the U.S. presidential election and investors have grown optimistic that the former president's return to the White House could benefit Tesla. Tesla CEO Elon Musk has been a key ally for Trump throughout his campaign, pouring at least $130 million into a pro-Trump campaign effort. Tesla had a market cap of $807.1 billion through Tuesday's close.

Persons: Elon Musk, Donald Trump, Tesla Organizations: Republican, Madison, U.S, Trump Locations: New York, NY

☆ Sales of 'The Handmaid's Tale' rose nearly 7,000% this week on Amazon — but 'Melania' takes the No. 1 bestseller spot
▼ + stars: | 2024-11-08 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +3 min

Sales of "The Handmaid's Tale" surged by nearly 7,000% on Amazon as of Thursday, CNN reported. "Melania," the memoir by Melania Trump. 1 book on Amazon's Best Sellers list as of Friday afternoon was Melania Trump's memoir "Melania," which came out last month. AdvertisementIn the foreword to her book, Melania Trump wrote: "I believe it is important to share my perspective, the truth, especially in these times of division and uncertainty. AdvertisementGeorge Orwell's "1984," which warns of the rise of totalitarianism, rose 250% in Amazon sales.

Persons: Melania Trump, —, Donald Trump, Margaret Atwood's, Barnes & Noble, Chip Somodevilla, Atwood, Roe, Wade, Kamala Harris, George Orwell's, Ray, JD Vance's Organizations: CNN, Service, Barnes &, Trump

☆ As Trump grasps unprecedented power, the Supreme Court’s decision on presidential immunity looms large
▼ + stars: | 2024-11-08 | by ( John Fritze | ) edition.cnn.com time to read: +7 min

Immune, immune, immune.”Justice Department ‘problem’But just how far that immunity extends is murky. The Supreme Court’s 6-3 decision left many questions unanswered and lower courts have not yet wrestled with them. But the Supreme Court majority ruled that a president’s power to direct the Justice Department’s investigative and prosecutorial work is within his exclusive constitutional authority. While the Supreme Court granted former presidents wide immunity, the ruling made no such promises to aides in the White House or Justice Department. Even the conservative Supreme Court and several lower courts repeatedly blocked Trump, who according to a study last year had the worst win rate at the high court of any modern president.

Persons: Donald Trump, Trump, Jack Smith “, Joe Biden, “, ”, Neil Eggleston, Obama, John Roberts, Biden, chafed, Sonia Sotomayor, Sotomayor, Smith, It’s, Smith’s, Trump’s, Richard Painter, George W, Bush, Painter, ” Biden, Kamala Harris, Hillary Clinton, Mark Meadows, ” Rod Rosenstein Organizations: CNN, White, ”, Navy, Department, Trump, Justice Department, Supreme Court Locations: Georgia

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin gains 10% in a week after Trump victory and rate cuts: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Johann Kerbrat of Robinhood Crypto discusses crypto trading activity on the platform after the election, and his expectations for regulation under a Trump administration.

Persons: explainers, Johann Kerbrat, Robinhood Crypto, Trump Organizations: Trump, CNBC Crypto, CNBC

☆ Small caps could outperform by more than 100% in the next few years, says Fundstrat's Tom Lee
▼ + stars: | 2024-11-08 | 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 EmailSmall caps could outperform by more than 100% in the next few years, says Fundstrat's Tom LeeTom Lee, Fundstrat Global Advisors managing partner and head of research and Fundstrat Capital CIO, joins 'Squawk Box' to discuss President-elect Trump's election victory, impact on the markets, state of the economy, the Fed's inflation fight, and more.

Persons: Tom Lee Tom Lee, Trump's Organizations: Fundstrat Global Advisors, Fundstrat Capital

☆ Trump promised massive tariffs on imports but how he’ll pull it off is still being figured out
▼ + stars: | 2024-11-08 | by ( Kayla Tausche | ) edition.cnn.com time to read: +6 min

Washington CNN —Just days after winning a comeback election, President-elect Donald Trump is evaluating how his campaign promises might translate into policy. As a candidate, Trump pledged to slap 60% tariffs on all goods coming in from China and 10% tariffs on goods imported from all other countries. “The way that President Trump looks at tariffs are not in isolation. Trump’s economic advisers – and the president himself – view the forthcoming tariff revenue as a way to offset that cost. “If he can use the tariffs as a means to an end, he’ll do that.”CNN’s Katie Lobosco contributed to this report.

Persons: Washington CNN —, Donald Trump, ”, Trump, Kelly Ann Shaw, Hogan Lovells, –, ” Trump, Larry Kudlow, it’s, ” “, Karoline Leavitt, Vance, Jake Colvin, ” Colvin, “ That’s, Robert Lighthizer, Elon Musk, “, he’s, Katie Lobosco Organizations: Washington CNN, CNN, Trump, Republicans, Jobs, Tax, Center, Social Security, Advisers, “, National Foreign Trade Council, European Union, EU, EV Locations: China, Trump’s, America, Canada, There’s, Tesla

☆ Trump's win spells trouble for a luxury comeback in China
▼ + stars: | 2024-11-08 | by ( Maria Noyen | ) www.businessinsider.com time to read: +5 min

Luxury brands face uncertainty after Donald Trump won the US presidential election. His victory spells trouble for the sector's hopes of a comeback in China. AdvertisementAmerica has elected a new president, paving an uncertain future for luxury brands looking to boost sales in China. Tariffs further complicate luxury's China issuesChina has been a reliable cash cow for luxury brands for decades. AdvertisementNationalism's rise doesn't play well for luxuryTrump's return to the White House is a signal of a wider issue facing luxury brands — rising nationalism.

Persons: Donald Trump, —, Trump, Jelena Sokolova, Martin Roll, they'll, Cheng Xin, Gary Ng, Ng, Daniel Langer, Justin Sullivan, It's Organizations: Service, America, Beijing, Morningstar, Trump, McKinsey, Pepperdine University Locations: China, outflows, Russia, Europe

☆ Stocks making the biggest moves premarket: Pinterest, Monster Beverage, Bath & Body Works, Trump Media & more
▼ + stars: | 2024-11-08 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

Trump Media & Technology Group — Shares of President-elect Donald Trump's media company fell another 4.6% in premarket trading following a 23% plunge in the previous session. The company saw $162 million in revenue, topping the consensus expectation for $150 million. Analysts polled by FactSet penciled in 43 cents in earnings per share and $1.91 billion in revenue. Affirm lost an adjusted 31 cents per share, narrower than the consensus forecast of 35 cents, according to LSEG. Bath & Body Works — The fragrance retailer slid 2.7% in the wake of a Barclays downgrade to underweight from equal weight.

Persons: Donald Trump's, platform's, DraftKings, Sweetgreen, LSEG, Toast, StreetAccount penciling, Versace, Michael Kors, FactSet, BioNTech, Goldman Sachs, Goldman, — CNBC's Sean Conlon, Yun Li, Pia Singh, Samantha Subin Organizations: Trump Media & Technology, LSEG, Arista Networks, Arista, Capri Holdings, Capri, Beverage, Revenue, Barclays Locations: LSEG, BioNTech —

CNN —Tech tycoon Elon Musk joined a call between US President-elect Donald Trump and Ukrainian President Volodymyr Zelensky the day after the presidential election, according to a source with knowledge of the situation. Zelensky previously said on X that he called Trump on Wednesday and congratulated him on “his historic landslide” win. Strong and unwavering US leadership is vital for the world and for a just peace,” Zelensky wrote at the time. CNN is reaching out to Musk and Trump’s teams about the call, which was first reported by Axios. Questions about Musk’s influence in the war also began to mount amid a rise in Ukrainian sightings of Russian uses of the satellite internet service.

Persons: Elon Musk, Donald Trump, Volodymyr Zelensky, Zelensky, “, Strong, ” Zelensky, Axios, Vladimir Putin, Musk, –, Starlink, Walter Isaacson, Isaacson, Dmitry Peskov Organizations: CNN — Tech, US, Ukrainian, CNN, Trump, PAC, NASA, SpaceX, Pentagon, Starlink, Russian, Putin Locations: Kyiv, Russia, Ukraine, Crimea, Crimean, Ukrainian, American

Officials said they hope it will speed up the maintenance and repairs of weapons systems being used by the Ukrainian military. “In order to help Ukraine repair and maintain military equipment provided by the US and its allies, DoD (Department of Defense) is soliciting bids for a small number of contractors who will help Ukraine maintain the assistance we’ve already provided,” a defense official said. Allowing experienced, US government-funded American contractors to maintain a presence in Ukraine means they will be able to help fix damaged, high-value equipment much faster, officials have told CNN. “The Department made this decision after careful risk assessment and in coordination with interagency stakeholders,” the defense official said. Instead, it would likely result in anywhere from a few dozen to a couple hundred contractors working in Ukraine at a time.

Persons: CNN —, Biden, Donald Trump, Trump Organizations: CNN, Pentagon, Russia “, US, DoD, Department of Defense, Ukrainian Armed Forces, Patriots, Biden, Russia, State Department, “ Locations: Ukraine, Russia, Ukrainian, Russian, Poland, Romania, Iraq, Afghanistan

☆ Jay Clayton: We need to have people who understand our markets in the positions of regulating it
▼ + stars: | 2024-11-08 | 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 EmailJay Clayton: We need to have people who understand our markets in the positions of regulating itFormer SEC Chairman Jay Clayton joins 'Squawk Box' to discuss President-elect Trump's election vicory this week, potential impact on taxes and regulation, personnel decisions in the new Trump administration, and more.

Persons: Jay Clayton, Trump Organizations: SEC

☆ The 10-year Treasury yield has been rising. Here's where BlackRock’s Rick Rieder sees an opportunity
▼ + stars: | 2024-11-08 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

Opportunities abound for income-seeking investors, even as the 10-year Treasury has seen a volatile week, according to BlackRock's Rick Rieder. The iShares Broad USD High Yield Corporate Bond ETF (USHY) , for instance, has a duration of 3.2 years and a 30-day SEC yield of 7.22%. Meanwhile, the Vanguard High-Yield Corporate Fund (VWEHX) has an average duration of 2.9 years, and a 30-day SEC yield of 6.03%. "You can stay higher quality, floating rate oriented, and clip yield," Rieder said. He thinks it's prime time for income investors to snap up yield without stretching into lower quality.

Persons: BlackRock's Rick Rieder, Donald Trump, Rieder, CLOs, Janus Henderson Organizations: Treasury, Federal, BlackRock, CNBC, Standard, SEC, Fund, AAA, Janus Henderson AAA CLO Locations: CLOs, Europe

☆ It's a fraught time in terms of economic policy, says Roger Ferguson
▼ + stars: | 2024-11-08 | 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 EmailIt's a fraught time in terms of economic policy, says Roger FergusonFormer Federal Reserve Vice Chairman Roger Ferguson joins 'Squawk Box' to discuss the Fed's rate cut decision this week, takeaways from Fed Chair Powell's commentary, post-election outlook for the Fed, and more.

Persons: Roger Ferguson, takeaways Organizations: Roger Ferguson Former Federal, Fed

☆ Fintech trades soar post election
▼ + stars: | 2024-11-08 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFintech trades soar post electionCNBC's MacKenzie Sigalos joins CNBC's 'Closing Bell' to discuss the surge in fintech stocks on the back of the election.

Persons: CNBC's MacKenzie Sigalos

☆ The sectors — and stocks — to buy in Asia after Trump's win, according to analysts
▼ + stars: | 2024-11-08 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

Former U.S. President Donald Trump's victory over Vice President Kamala Harris in this week's election has raised questions about how Asia will be impacted. "When passed, the [tariffs] will sweep across Asia, particularly China [and] should spike volatility and compress multiples as uncertainty prevails." Even so, the analysts say the region is "more prepared than in 2016" and investment opportunities remain, especially given the weaker yen and stimulus in China. This will bring about "structural shifts in global supply chain ... [and] could boost infrastructure spending in ASEAN and South Asia," he added. The currency has fallen versus the dollar following Trump's win, hitting 154.7 per dollar on Wednesday — its weakest level since July 30.

Persons: Donald Trump's, Kamala Harris, India's, Hong, Tai Hui, Hui, Stocks, — CNBC's Lim Hui Jie Organizations: U.S, Trump, Macquarie Research, Nikkei, Dow Jones, Nasdaq, Morgan Asset Management, Congress, Mitsubishi Electric, Mitsubishi, Japanese pharma, Chugai Pharmaceutical, SK Hynix Locations: Asia, China, ASEAN, South Asia, U.S, Macquarie, Japan

☆ China just announced a $1.4 trillion plan to rescue its local governments
▼ + stars: | 2024-11-08 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

China has announced a local government debt rescue program days after Trump won the US election. Trump has threatened tariffs of 60% on Chinese goods, complicating China's economic gloom. AdvertisementChina announced a debt rescue program to the tune of $1.4 trillion to save heavily indebted local governments and boost its economy. The plan also allows local governments to tap 4 trillion yuan in special local bonds over five years. China's local governments have been struggling to repay their LGFV debt, which the International Monetary Fund estimated to be around 60 trillion as of last year.

Persons: Trump, —, Li Kiang, Donald Trump's, Vishnu Varathan, Mizuho Bank's Organizations: Trump, Service, China, China's, National People's Congress, International Monetary Fund, Reuters Locations: China, Xinhua, Beijing, Washington, Asia, Japan

☆ Trump will structurally break away from traditional U.S. policies
▼ + stars: | 2024-11-08 | 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 EmailExpect a wild ride in Trump's 2nd term as he structurally breaks away from traditional U.S. policiesMatt Gertken from BCA Research says Trump's economic policies could push inflation higher, which is the very issue that caused the Democrats' defeat in this election.

Persons: Matt Gertken Organizations: BCA Research Locations: Trump's, U.S

☆ Dollar winds down after volatile week, China NPC in focus
▼ + stars: | 2024-11-08 | by ( ) www.cnbc.com time to read: +4 min

The dollar further unwound some of its sharp gains from earlier in the week as traders closed out profitable bets on a Trump presidency after his election victory. That helped lift sterling back toward the $1.30 mark, while the yen similarly got some respite and hovered closer to the 153 per dollar level. Sterling last traded $1.2983, recovering from its fall to a roughly three-month low earlier in the week. Against a basket of currencies, the dollar ticked up 0.03% to 104.44, on track to gain just above 0.1% for the week. "All eyes are on what may emerge from China's policy toolkit after the conclusion of the NPC standing committee meeting."

Persons: Donald Trump's, Chancellor Olaf Scholz, Kerry Craig, Trump, Wells, Jay Bryson, Sterling, David Chao Organizations: White, National People's Congress, Trump, Federal Reserve, Morgan Asset Management, Traders, Bank of England, NPC, New Zealand, Asia Pacific, European Union Locations: U.S, Beijing, Germany, Wells Fargo, Japan, Invesco

☆ Trump Says He Won't Sell Truth Social, Calls for Investigations
▼ + stars: | 2024-11-08 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +2 min

Shares in Trump Media & Technology are surging after the election. Furthermore, Trump threatened the "market manipulators or short sellers" who he said were spreading the "fake, untrue, and probably illegal rumors and/or statements" that he did intend to sell Trump Media shares. AdvertisementShares in Trump Media were up around 15% by late afternoon Friday trade. Neither the Trump campaign nor Trump Media immediately responded to requests for comment from Business Insider. Trump's majority stake comprises 115 million shares worth around $3.7 billion as of Friday.

Persons: Donald Trump, he's, —, Trump, could've feasibly, Elon Musk's Organizations: Trump Media & Technology, Service, Trump Media, Business, Trump Media's, Trump, Social, Elon

☆ Fed cuts rates again, but Trump's tariff plan sparks inflation fears and market uncertainty
▼ + stars: | 2024-11-08 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today's big story, the Fed cutting interest rates yesterday was never really in doubt . Additional rate cuts aren't as clear, though, as Donald Trump's proposed widespread tariffs could slow down the Fed's plans . The market is indicating inflation could lead the Fed to keep borrowing rates high. AdvertisementGreg McBride, chief financial analyst at Bankrate.com, told Insider Today that Fed Chair Jerome Powell didn't indicate a pause in cuts was coming in December during Thursday's press conference.

Persons: —, MANDEL NGAN, Chelsea Jia Feng, Donald Trump's, Paul Krugman, It's, Chip Somodevilla, Greg McBride, Jerome Powell didn't, Powell, McBride, There's, Dominique Lapointe, Lapointe, Trump, ANGELA WEISS, Morningstar, Trump's, Dave Sekera, Goldman execs, Goldman Sachs, David Solomon, Donald Trump, Jenny Chang, Rodriguez, Elon Musk, David Zaslav, Zaslav, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Ella Hopkins, Amanda Yen, Milan Sehmbi Organizations: Business, Service, Getty Images, BI, Federal Reserve, Treasury, Fed, Manulife Investment Management, Morningstar, Elon, Trump, Keystone State, Big Tech's, Walmart, Target, Costco, Big Media, Warner Bros, Discovery, Paramount, Sony Locations: AFP, China, Pennsylvania, New York, London

☆ This software stock is well-positioned to benefit from Trump's agenda, trader says
▼ + stars: | 2024-11-08 | by ( Tony Zhang | ) www.cnbc.com time to read: +4 min

A pro-business agenda, regulatory flexibility, and potential tax incentives under his administration could once again set the stage for technology stocks to outperform. Adobe (ADBE) , a leader in AI-enhanced creative solutions, is particularly well-positioned to capitalize on this environment. With its superior growth rates and operational margins that set it apart from peers, Adobe's valuation presents a compelling entry point amid strong fundamentals and a supportive administration. This signals that sellers are starting to get exhausted and presents an opportunity for buyers to start stepping in for a strong counter-trend rally. To capitalize on a potential rally in Adobe, consider buying the December 20, 2024, $500/550 Call Vertical @ $18.05 Debit.

Persons: Donald Trump's, ADBE Organizations: Adobe, Digital Media, CNBC, NBC UNIVERSAL

☆ How to profit if rates keep rising, going against the Fed and stock investors
▼ + stars: | 2024-11-08 | by ( Jeff Kilburg | ) www.cnbc.com time to read: +3 min

U.S. government bond yields have surged too, puzzling many market participants. I am going to stick with the contrarian view and bet on rates continuing to move higher. I'll express that through a bearish bet on the iShares 20+ Year Treasury Bond ETF (TLT) which tracks bond prices. Various inputs have driven yields higher, creating the opposite outcome for the Fed as they continue to try to land the proverbial plane. Jeffrey Gundlach stated (post Fed meeting) that interest rates could shoot even higher if Republicans end up controlling the House too.

Persons: Donald Trump's, Jeffrey Gundlach, Jerome Powell, TLT Organizations: Federal Reserve, Treasury Bond ETF, Fed, Treasury, CNBC, NBC UNIVERSAL

☆ We asked 3 migration firms about what they're hearing in the first 48 hours after the election
▼ + stars: | 2024-11-08 | by ( Maria Noyen | Shubhangi Goel | ) www.businessinsider.com time to read: +6 min

Business Insider spoke to three residency and citizenship consultancies about what they heard in the 48 hours after the election was called. Advertisement"Americans normally will take an average of three weeks to four weeks to review the documents before signing anything," Arton said. This time, it's different: "They're signing it the same day." While demand has risen steadily, Galst said clients' tone this week took on particular urgency — they're no longer just shopping around for options. "In the last 24 hours, I've heard real urgency," Galst said.

Persons: —, Donald Trump readies, They've, Steve Ballmer, Armand Arton, He's, Arton, they're, Partners Judi Galst, Galst, I've, it's, Pela Terra Organizations: Democratic, Service, White, Business, Arton, Henley, Partners, Henley & Partners, US Nationals, Gaza, Hamas Locations: Montreal, New York, Connecticut, California, London, Palestinian, Portugal, Caribbean, Ireland, Germany, Austria, Poland, Florida, American, Europe

☆ Justice Department brings charges in thwarted Iranian plot to assassinate Trump
▼ + stars: | 2024-11-08 | by ( Rebecca Shabad | Michael Kosnar | ) www.cnbc.com time to read: +3 min

The Department of Justice on Friday charged an Iranian man and two New York residents in murder-for-hire plots targeting then-candidate Donald Trump and others. The department said the plot was part of Iran's efforts to exact revenge for the death of Iranian military leader Qasem Soleimani during the Trump administration. Around Oct. 7, the Iranian official tasked Shakeri with providing a plan within seven days to kill Trump, he told law enforcement in recorded interviews, the complaint says. Shakeri told FBI officials that he didn't intend to propose a plan to assassinate Trump in the timeframe set by the IRGC, it says. Trump communications director Steven Cheung said Friday that the president-elect is aware of the attempted assassination plot.

Persons: Donald Trump, Trump, Damian Williams, Qasem Soleimani, Farhad Shakeri, Carlisle Rivera, Jonathan Loadholt, Shakeri, surveil, Steven Cheung, Rivera, Masih Alinejad Organizations: U.S, The, Justice, Southern, of, Islamic Revolutionary Guard Corps, Iranian, Trump, FBI, White, Prosecutors, NBC News Locations: Iranian, Tehran, Iran, New York, U.S, of New York, Brooklyn , New York, Staten Island , New York, New York City, Sri Lanka, United States, Afghan, New York State, Brooklyn, Loadholt, Staten Island, American

☆ Fixing the broken government should be a nonpartisan issue, says Palantir co-founder Joe Lonsdale
▼ + stars: | 2024-11-08 | 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 EmailFixing the broken government should be a nonpartisan issue, says Palantir co-founder Joe LonsdaleJoe Lonsdale, 8VC founding partner and Palantir co-founder, joins 'Squawk Box' to discuss President-elect Trump's election victory, top priorities under a second Trump term, and more.

Persons: Palantir, Joe Lonsdale Joe Lonsdale, Trump's Organizations: Trump Locations: 8VC

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