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☆ 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 just made $500 million with a single Truth Social post
▼ + stars: | 2024-11-08 | by ( David Goldman | ) edition.cnn.com time to read: +2 min

CNN —President-elect Donald Trump’s social media stock had been sinking fast after a short-lived, post-election-victory surge this week. Then, with a single post on Truth Social, he helped boost the stock again – and added a half billion dollars to his net worth as a result. Trump is the company’s single largest shareholder, and his 114.75 million shares are now worth about $3.7 billion. Trump media rose just 4.4% over the past five days. That could be difficult to do, anyway, because the company’s valuation depends almost entirely on Trump’s ownership and participation on Truth Social, its core product.

Persons: Donald Trump’s, Trump Organizations: CNN, Trump Media, Technology Group, Traders, Trump, Truth Locations: United States

☆ There's optimism in the C-suites of entertainment and media companies, says Puck's Matt Belloni
▼ + 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 EmailThere's optimism in the C-suites of entertainment and media companies, says Puck's Matt BelloniMatt Belloni, Puck founding partner, joins 'Squawk Box' to discuss the state of the media landscape, impact of President-elect Trump's election victory on the sector, whether there will be more media deals in the future, and more.

Persons: Matt Belloni Matt Belloni, Puck, Trump's

☆ What We Learned About Celebrity Culture in the 2024 Election
▼ + stars: | 2024-11-08 | by ( Jesse Mckinley | More About Jesse Mckinley | ) www.nytimes.com time to read: +1 min

In an election season in which both parties sought out any possible edge, Democrats clung to one seemingly clear-cut advantage: Celebrities including Taylor Swift and Bruce Springsteen broke hard for that party, even as voters did not. The result was a split-screen of American celebrity — two sets of famous people for two halves of the country. But by and large, the biggest names in entertainment said Vice President Kamala Harris should be elected to the nation’s highest office. Ms. Harris was decisively defeated on Tuesday, despite the backing of a megastar like Beyoncé. “America is tired,” wrote Albert Pennachio, an independent voter who lives in Statesville, N.C. “And we don’t care what celebrities think anymore.”

Persons: Taylor Swift, Bruce Springsteen, Donald J, Trump, Kanye, Mel Gibson, Jon Voight, Kamala Harris, Harris, ”, Albert Pennachio Locations: America, Statesville, N.C

☆ Trump's election interference case is on ice after Jack Smith, defense, and judge agree to vacate deadlines
▼ + stars: | 2024-11-08 | by ( Natalie Musumeci | Laura Italiano | ) www.businessinsider.com time to read: +3 min

Prosecutors sought to vacate remaining deadlines in Donald Trump's election-interference case. Justice Department policy says a sitting president cannot be prosecuted while in office. AdvertisementA federal judge on Friday granted special counsel Jack Smith's request to vacate all pending deadlines for President-elect Donald Trump's federal election interference case. There is long-standing Justice Department policy that a sitting president cannot be prosecuted while in office. Over the last month, the federal judge overseeing the election interference case released a trove of prosecutors' evidence against Trump.

Persons: Donald Trump's, Jack Smith, —, Jack Smith's, Smith, Trump, John Moscow, Steven Cheung Organizations: Service, Trump Department of Justice, Manhattan, Department of Justice, Department, Trump

☆ These are the most overbought stocks after Trump's win this week
▼ + stars: | 2024-11-08 | by ( Pia Singh | In | ) www.cnbc.com time to read: +4 min

Several software companies could be due for a pullback after the stock market's roaring rally this week, fueled by president-elect Donald Trump's election victory as well as robust quarterly earnings reports. Shares of video game makers Take-Two Interactive Software and Electronic Arts are two of the stocks that are technically overbought right now, according to the analysis. The most overbought stock this week was human capital management software company Dayforce, with an RSI of 92.4. But higher prices and expectations of normalizing pricing, which helped Coke guide its organic revenue growth this year to the high end of a prior forecast, could lead the stocks higher. Other oversold stocks include power generation company AES , as well as radio frequency equipment maker Qorvo and Regeneron Pharmaceuticals — the latter two of which were also oversold the previous week.

Persons: Donald Trump's, Trump, Morgan Stanley, Mills, Dr Pepper Organizations: Major, Dow Jones, Nasdaq, CNBC Pro, Companies, Electronic Arts, Software, Gilead Sciences, AES, Regeneron Pharmaceuticals Locations: Major U.S, Gilead

☆ 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

☆ Fintechs Upstart and Toast soar on earnings
▼ + stars: | 2024-11-08 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +2 min

Chris Comparato, CEO, the Toast, Inc. IPO at the New York Stock Exchange, on September 22, 2021. Toast , which sells payments technology to restaurants, jumped 14%, closing at its highest since 2021. Toast is still well off its pandemic highs of 2021, but the stock has now more than doubled this year. The company's adjusted earnings forecast of $90 million to $100 million for the current quarter sailed past estimates. Coinbase shares jumped 48% for the week, their strongest performance since January 2023.

Persons: Chris Comparato, David Girouard, Donald Trump's, Coinbase, Trump, Gary Gensler, Bitcoin, dogecoin, fintechs, Jack Dorsey's, Robinhood Crypto Organizations: Inc, New York Stock Exchange, Nasdaq, SEC Locations: fintech, solana

☆ Tom Lee says bitcoin could hit six figures before year-end
▼ + stars: | 2024-11-08 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Bitcoin is just getting started after its postelection rally, according to Fundstrat's Tom Lee, and is still on track to hit six figures by the end of the year. "I think because [it's] post-halving and now bitcoin is becoming a lot more relevant ... the regulatory overhang is diminishing — that there's a lot of upside from here." The flagship cryptocurrency climbed to fresh records this week after President-elect Donald Trump' s victory, which was widely anticipated as a bullish catalyst for the crypto industry at large. During Trump's campaign for reelection he promised the crypto industry a more favorable regulatory environment that would include appointing a more crypto-friendly leader to chair the Securities and Exchange Commission. Bitcoin is up 79% this year, compared with the S & P 500's 25% gain.

Persons: Bitcoin, Tom Lee, Donald Trump, It's, Lee, JD Vance, Vivek Ramaswamy, Cantor Fitzgerald, Howard Lutnick, Robert Kennedy Jr, it's, Sen, Elizabeth Warren, Biden, Gary Gensler Organizations: Treasury, Securities and Exchange Commission, SEC

☆ How crypto and fintech may perform under the second Trump administration
▼ + 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 EmailHow crypto and fintech may perform under the second Trump administrationCNBC's MacKenzie Sigalos discusses the influence the crypto sector had on the election, and what Trump's victory and future policies will do for the assets and related stocks.

Persons: Trump, CNBC's MacKenzie Sigalos

☆ Small cap trade has a little room left to run, says RBC's Lori Calvasina
▼ + 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 cap trade has a little room left to run, says RBC's Lori CalvasinaLori Calvasina, RBC Capital Markets head of U.S. equity strategy, joins CNBC's 'Closing Bell' to discuss the small cap trade, post-election markets, and more.

Persons: RBC's Lori Calvasina Lori Calvasina Organizations: RBC Capital Markets

☆ Giuliani says he can't surrender a Joe DiMaggio jersey in $148M defamation case because it's locked up in Ronkonkoma, NY
▼ + stars: | 2024-11-08 | by ( Laura Italiano | Haven Orecchio-Egresitz | ) www.businessinsider.com time to read: +7 min

His signed Joe DiMaggio jersey is in a Long Island storage facility he has no access to, he said. An employee reached by phone Thursday told Business Insider that the warehouse is a "patriotic venue," not a storage facility. A business located on the same lot, Corporate Transfer, is advertised as a storage facility. Joe DiMaggio's jersey is no longer on the wall of Rudy Giuliani's apartment, lawyers in his $148M defamation case say. Asked after court what the holdup with the storage facility might be, Giuliani told Business Insider he didn't know.

Persons: Rudy Giuliani, Ruby Freeman, Shaye Moss, Joe DiMaggio, —, Joltin, Joe, Rudy Giuliani's, Giuliani, DiMaggio, Moss, Kenneth Caruso, Caruso, Judge Lewis Liman, It's, Joe DiMaggio's, Freeman, Marjorie Taylor Greene, Chaya Raichik, Kellyanne Conway, Joseph Verderber, didn't, Mercedes, Lauren Bacall, Aaron Nathan, Donald Trump, Nathan, We've, Shaye, He's, he's, Guiliani, Donald Trump's, Biden Organizations: Service, Freeman, US, Giuliani, The, Mercedes Locations: NY, , New York, Rudy Giuliani's Manhattan, Georgia, Manhattan, Long, Ronkonkoma, New York

☆ 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

☆ Trump could pick government’s top ethics official – after key ally blocked Biden’s choice
▼ + stars: | 2024-11-08 | by ( Fredreka Schouten | ) edition.cnn.com time to read: +3 min

CNN —President-elect Donald Trump could be in a position to select the government’s top ethics czar when he assumes office in January – after a key ally in the Senate blocked President Joe Biden’s pick to head the Office of Government Ethics. The federal agency is charged with monitoring compliance with ethics laws that are aimed at preventing corruption. Walter Shaub, the OGE director when Trump first took office in 2017, clashed repeatedly with the then-president at the start of Trump’s first term. Among other things, he openly criticized Trump for not relinquishing ownership of his real estate and licensing empire. The previous OGE director, Trump appointee Emory Rounds, left the position in July 2023.

Persons: Donald Trump, Joe Biden’s, Republican Sen, Mike Lee of, David Huitema, Biden, Lee, Harris, ” Huitema, Lisa Gilbert, ”, ” Gilbert, Virginia Canter, Trump, Walter Shaub, Shaub, Jimmy Carter, George W, Bush, Emory Rounds, Shelley Finlayson Organizations: CNN, Republican, Biden, State Department, Public Citizen, Democratic, Truth, Trump, Trump Organization Locations: Mike Lee of Utah, Washington

☆ Trump criminal election case paused as special counsel Jack Smith weighs fate of prosecution
▼ + stars: | 2024-11-08 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

A judge on Friday paused proceedings in the criminal election interference case against President-elect Donald Trump, a move that reflects the expected end of the prosecution. Trump's win against Vice President Kamala Harris earlier this week was considered a death knell for Smith's prosecutions of him. On Wednesday, NBC News reported that DOJ officials have been evaluating how to wind down the election case and another criminal case against Trump before he is sworn in as president. Trump has said he plans to fire Smith, and is expected to force the DOJ to end the prosecutions. And DOJ policy bars the department from prosecuting a president while in office due to the department's position in the executive branch of government.

Persons: Jack Smith, Donald Trump, Smith, Trump, Tanya Chutkan, Chutkan, Kamala Harris Organizations: Department of Justice, NBC News, DOJ, Trump Locations: Washington , U.S, Washington ,

☆ 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

☆ First Trump administration was 'very receptive to business,' Joe Kaeser says
▼ + 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 EmailFirst Trump administration was 'very receptive to business,' Joe Kaeser saysJoe Kaeser, chairman of the supervisory board of Siemens Energy, discusses the political turmoil in Germany and weighs in on the election of Donald Trump as U.S. president.

Persons: Trump, Joe Kaeser, Donald Trump Organizations: Siemens Energy Locations: Germany

☆ Pelosi hops on the Biden blame game and says there should've been an open primary
▼ + stars: | 2024-11-08 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +3 min

Nancy Pelosi told the NYT that Biden's actions made it "almost impossible" to have a primary. She joins the chorus of Democrats blaming Biden for Harris' loss on Tuesday. AdvertisementRep. Nancy Pelosi is blaming President Joe Biden in part for President-elect Donald Trump's victory on Wednesday. In an interview with the New York Times, Pelosi implied Biden should have dropped his presidential bid earlier and made time for an open primary. "Had the president gotten out sooner, there may have been other candidates in the race," Pelosi told the Times on Thursday.

Persons: Nancy Pelosi, Biden, Harris, Pelosi, —, Joe Biden, Donald Trump's, Kamala Harris, couldn't, Pelosi didn't Organizations: Service, New York Times, Times, Democratic National Convention Locations: California

☆ Giuliani says he can't surrender a Joe DiMaggio jersey in his $148M defamation case because it's locked up in Ronkonkoma, NY
▼ + stars: | 2024-11-08 | by ( Laura Italiano | Haven Orecchio-Egresitz | ) www.businessinsider.com time to read: +7 min

He said his signed Joe DiMaggio jersey was in a Long Island storage facility he had no access to. An employee reached by phone on Thursday told Business Insider the warehouse was a "patriotic venue," not a storage facility. A business on the same lot, Corporate Transfer, is advertised as a storage facility. Asked after court what the holdup with the storage facility might be, Giuliani told BI he didn't know. Giuliani was also ordered to continue working with the plaintiffs on getting access to the storage facility.

Persons: Rudy Giuliani, Ruby Freeman, Shaye Moss, Giuliani, Joe DiMaggio, —, Joltin, Joe, Rudy Giuliani's, DiMaggio, Moss, Kenneth Caruso, Freeman's, Caruso, Judge Lewis Liman, Joe DiMaggio's, Freeman, he'd, Marjorie Taylor Greene, Chaya Raichik, Kellyanne Conway, Joseph Verderber Jr, didn't, Mercedes, Lauren Bacall, Aaron Nathan said, Donald Trump, Nathan, We've, he's, Guiliani, Trump's, Joe Biden Organizations: Service, Trump, Freeman, US, Giuliani, America, New, New York City, Mercedes Locations: New York, , New York, Rudy Giuliani's Manhattan, Georgia, Manhattan, Long, Ronkonkoma

☆ Nasdaq CEO Adena Friedman on Trump's policy impact
▼ + 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 EmailNasdaq CEO Adena Friedman on Trump's policy impactAdena Friedman, Nasdaq CEO, joins 'Money Movers' to discuss how the election changes Friedman's outlook, if the postelection stock bounce was justified, and much more.

Persons: Adena Friedman Organizations: Nasdaq

☆ Binance CEO says he hopes for regulatory clarity after Trump victory
▼ + 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 EmailBinance CEO says he hopes for regulatory clarity after Trump victoryBinance CEO Richard Teng discusses positive cryptocurrency movements after Donald Trump's election victory in the U.S. and the need for "regulatory clarity."

Persons: Richard Teng, Donald Trump's Organizations: Trump Locations: U.S

☆ Democrats wished the election was about jobs. Trump's win showed it was about prices.
▼ + stars: | 2024-11-08 | by ( Ayelet Sheffey | Madison Hoff | ) www.businessinsider.com time to read: +5 min

While Democrats touted job growth under Biden, Trump won over voters facing high prices. "I am promising low taxes, low regulations, low energy costs, low interest rates, secure borders, low, low, low crime and surging incomes for citizens of every race, religion, color, and creed," Trump said during remarks in September. BI adjusted 2021 amounts using Census-division-level inflation to understand how much real wages have changed across the US. Rhode Island had the highest real wage growth, just one of around a dozen states that saw an increase. Real wages massively fell in costly Washington, DC; even before adjusting for inflation wages were roughly flat.

Persons: Trump, —, Donald Trump, Joe Biden, Kamala Harris, Biden, Biden's, Jed Kolko, Matthew Yglesias, Harris, Kolko, they'll Organizations: Biden, Counties, Trump, Service, Federal, The New York Times, BI, stoke Locations: Trump, Rhode, New York, Maryland, Washington

☆ I swore I would leave the US if Trump won the 2016 election. Here's how that worked out for me.
▼ + stars: | 2024-11-08 | by ( Sonya Moore | ) www.businessinsider.com time to read: +6 min

Sonya Moore decided that if Trump won in 2016, she would leave the US. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Advertisement"If Trump wins this election, I'm moving out of the country." Trump won the election, and 9 months later, I left the US. After four months in India, I continued making my way through Asia for eight more months.

Persons: Sonya Moore, Trump, Moore, —, I'm, uproot, Dalai Lama, I've, We've Organizations: Service, Trump Locations: Asia, Siem Reap, Cambodia, India, Dalai, Maldives, Bali, mountaintops, Laos, Philippines, Myanmar, Manhattan, COVID, France, Papua New Guinea, America

☆ 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

☆ Tom Lee says small cap stocks can outperform over next couple years by 100% on Trump policies
▼ + stars: | 2024-11-08 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Donald Trump's second presidency could help supercharge small cap stocks further, according to Fundstrat managing partner and head of research Tom Lee. "Since 1987 small caps traded on a median price-to-earnings [ratio] at a premium basis to the S & P 500, and the S & P 500 is at 17 times. I think small caps could over the next couple of years outperform by more than 100%," Lee told CNBC's " Squawk Box " on Friday. Lee is also bullish on equities more broadly, and doesn't limit his optimistic outlook to only small caps. He also forecast the S & P 500 could break above 6,000 before the end of the year and top 6,700 in 2025.

Persons: Donald Trump's, Tom Lee, Lee, CNBC's, Russell, Stocks, Trump's, haven't, FundStrat Organizations: Trump, U.S, Granny Shots, Tesla, Oracle

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