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☆ Microsoft is having its iPhone moment
▼ + stars: | 2024-05-10 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

Microsoft is on the verge of a major turning point with Copilot, analysts said. Analysts from investment bank Wedbush Securities said in a note on Friday that they believe the tech giant is having its "iPhone moment" in AI. Related storiesFor Microsoft, Copilot might be the driver. AI is on track to change the tech industry forever, and they predict it will continue to push Microsoft cloud products like Azure forward. Microsoft Cloud generated $35.1 billion in revenue in the first quarter — up 23% year-over-year — and Nadella said investing in Copilot is part of the reason.

Persons: —, they've, Satya Nadella, Dan Ives, Nadella Organizations: Microsoft, Service, Wedbush Securities, Apple, Nadella Locations: Copilot

☆ AI washing: A Microsoft VC's warning about dubious, and rising, corporate artificial intelligence claims
▼ + stars: | 2024-05-10 | by ( Rachel Curry | ) www.cnbc.com time to read: +6 min

Some are practicing something called "AI washing," which Securities and Exchange Commission chair Gary Gensler explained in a video includes "false claims to investors by those purporting to use those new technologies." In reality, what AI washing leads to is a breakdown of confidence between vendors and their consumers, enterprise partners and investors. Bates says so-called button-pushing applications are AI washing, too. "These prompts that are being sold as AI companies, they have to be maintained and monitored and adjusted in order to work." Stewart says even 80–90% gross profitability for a fully AI company with limited human intervention is standard.

Persons: they're, Gary Gensler, It's, it's, Michael Stewart, Timothy Bates, Bates, Toby Coulthard, Coulthard, Microsoft's, Stewart Organizations: Securities, Exchange, SEC, Inc, University of Michigan, Flint College of Innovation & Technology, Lenovo, General Motors

☆ Markets are more willing to see China as a 'glass half full story': Strategist
▼ + stars: | 2024-05-10 | 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 EmailMarkets are more willing to see China as a 'glass half full story': StrategistWinnie Wu, chief China equity strategist at BofA Securities, says, however, that a "fundamental turnaround will be quite [a] long-term story."

Persons: Winnie Wu Organizations: BofA Securities Locations: China

☆ Fat Brands and chair Andy Wiederhorn indicted in $47 million 'sham' loan scheme
▼ + stars: | 2024-05-10 | by ( Amelia Lucas | ) www.cnbc.com time to read: +4 min

Federal authorities on Friday charged Fat Brands and its chair Andy Wiederhorn of committing a brazen scheme that netted him $47 million in bogus loans from the restaurant company that owns Fatburger, Johnny Rockets and Twin Peaks. Fat Brands, Wiederhorn and a few other people were criminally indicted by a federal grand jury in Los Angeles for wire fraud, tax evasion and other counts related to the alleged scheme. "These charges are unprecedented, unwarranted, unsubstantiated and unjust," Fat Brands counsel Brian Hennigan said in a statement. As chief executive of Fat Brands, Wiederhorn, 58, allegedly directed the company to loan its own funds to him, with no intention of ever paying the "sham" loans back, according to the indictment. He also did not report any of the so-called loans from Fat Brands as income, according to the indictment.

Persons: Andy Wiederhorn, Johnny, Brian Hennigan, Wiederhorn, overreach —, Nicola Hanna, Wiederhorn's, Thayer, Ron Roe, Rebecca Hershinger, William Amon Organizations: Brands, Johnny Rockets, U.S . Securities, Exchange Commission, Fat Brands, SEC, Fog, Wiederhorn Locations: Los Angeles, Oregon, U.S

While he pulled back his price target to $26 from $32, the new target still indicates shares surging 126% from Wednesday's close. Fox's fiscal third quarter results came above Rief Ehrlich's expectations, which she noted were encouraging "amid a difficult linear advertising environment." — Fred Imbert 5:50 a.m.: Wall Street on the sidelines for Airbnb Airbnb's weaker-than-expected forward guidance has analysts worried about the company's growth outlook. Post pulled back his price target by $8 to $160, just 1.3% above where shares closed on Wednesday. Meanwhile, analyst Eric Sheridan moved his price target slightly higher to $130 from $123, suggesting around 18% downside.

Persons: Raymond James ., Jefferies, Dushyant Ailani, Ailani, — Hakyung Kim, Jessica Reif Ehrlich, … Fox, Davidson downgrades, Davidson, Tom White, Tripadvisor, we'd, White, Hakyung Kim, Raymond James Cheesecake Factory, Raymond James, Brian Vaccaro, Vaccaro, Andrew Boone, Shopify, Boone, Fred Imbert, Airbnb, LSEG, Morgan Stanley, Brian Nowak, Nowak, Bank of America's Justin Post, Post, Goldman Sachs, Eric Sheridan Organizations: CNBC, JPM Securities, Cheesecake, Bank of America, Fox, Media, of America, …, Factory, Cheesecake Factory, JMP Securities, Bank of America's Locations: Wednesday's, 2H24

☆ Financier Found Guilty in Trump Media Insider Trading Trial
▼ + stars: | 2024-05-09 | by ( Matthew Goldstein | ) www.nytimes.com time to read: +1 min

Federal prosecutors had charged Bruce Garelick with five counts of securities fraud and conspiracy. The information helped two brothers — Michael Shvartsman and Gerald Shvartsman — make nearly $23 million in illegal trading profits by buying Digital World securities in advance of the announcement, which sent the stock soaring. Mr. Garelick, who worked for Michael Shvartsman at a small Miami-based venture capital firm, Rocket One, made about $50,000 by trading off what the authorities said was nonpublic information. Last month, the Shvartsman brothers decided to forgo a trial and pleaded guilty to securities fraud charges. In their plea agreements, prosecutors have recommended a sentence of roughly four to five years for Michael Shvartsman and three to four years for his younger brother.

Persons: Donald J, Bruce Garelick, Garelick, — Michael Shvartsman, Gerald Shvartsman —, Michael Shvartsman Organizations: Trump Media & Technology Group, Truth, Acquisition Corporation, Digital Locations: Manhattan, Miami

☆ How Apple's record $100 billion-plus stock buyback benefits shareholders
▼ + stars: | 2024-05-09 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Apple 's latest $110 billion stock buyback authorization is the granddaddy of them all — the biggest in corporate history. Assuming an average annual $100 billion buyback by the Club name going forward, we wanted to look at just how much that is worth to shareholders. With more records set for its installed base of active devices and services in Q2, Apple stock rose nearly 6% on Friday, the session following Thursday evening's release. The net cash position is important because Apple aims to be net cash neutral over time. At a valuation of 28 times earnings, we arrive at a share price of about $182 each, right around where it was trading Wednesday.

Persons: let's, Apple, Jim Cramer's, Jim Cramer, Jim, Gary Hershorn Organizations: Apple, Club, Vision, Vision Pro, CNBC, Corbis, Getty

The three companies collectively operate 75 U.S. casinos that permit indoor smoking, where state law allows. States like Nevada and New Jersey have prohibited indoor smoking more broadly, but carved out exceptions for casinos. Legislation to end indoor smoking at casinos is in various stages in several states across the country, including New Jersey, Pennsylvania and Rhode Island. Advocates for smoking bans point to research by C3 Gaming that concluded smoke-free casinos generate more revenue and outperform competitors that allow smoking. In Las Vegas, MGM Resorts opened the first casino resort on the Strip to prohibit indoor smoking and even smoking on the pool deck.

Persons: Boyd, Bally's, it's, Jan Jones Blackhurst, we've, Marc Oppenheimer, we're, it'll Organizations: Boyd Gaming, Bally's Entertainment, Caesars Entertainment, Trinity Health, Nonsmokers, Rights Foundation, Trinity, Caesars, The Securities, Exchange Commission, C3 Gaming, SBC, North, United Auto Workers, Disease Control, U.S, CNBC, Las Vegas, MGM Resorts, MGM Locations: Livonia , Michigan, Bally's, U.S, Nevada, New Jersey, New Jersey , Pennsylvania, Rhode Island, North America, United States, Pennsylvania, Bensalem, Philadelphia, Las

☆ Investor found guilty in Trump Media insider trading case
▼ + stars: | 2024-05-09 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

CNN —An investor in the shell company that merged with Trump Media was found guilty on Thursday of insider trading linked to that blockbuster deal, according to federal prosecutors. “Garelick’s federal conviction is yet another stark reminder that insider trading is always a losing bet.”Garelick was among three men who were arrested and charged last June in the insider trading case. The other two, Florida venture capitalist Michael Shvartsman and his brother Gerald Shvartsman, pleaded guilty last month to participating in the insider trading scheme. Prosecutors have not alleged that former President Donald Trump, the chairman and leading shareholder of Trump Media, had any involvement in the scheme. Beyond their own purchases, prosecutors say Garelick and his co-defendants tipped off friends and colleagues who also bought securities in Digital World before the Trump Media deal was announced publicly.

Persons: Bruce Garelick, Garelick, ” Damian Williams, “, ” Garelick, Michael Shvartsman, Gerald Shvartsman, Donald Trump, Michael, rhough, Trump Organizations: CNN, Trump Media, Acquisition, Truth Social, Southern, of, Prosecutors, Digital, Nasdaq, rhough Trump Media Locations: of New York, Florida

☆ Donald Trump spends day off from his hush-money trial attacking Biden's crypto knowledge and pushing mugshot NFTs
▼ + stars: | 2024-05-09 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Donald Trump spent his day off from court at a supporters' dinner at Mar-a-Lago, Axios reported. The former president hosted fans who'd bought NFTs from his "Mugshot Edition" collection. Footage from the event showed Trump claiming that Joe Biden "has no idea" what crypto is. The mugshot NFTs cost $99 apiece. AdvertisementIn one post on X, the former president is seen saying: "Can we donate to the Trump campaign using crypto?

Persons: Donald Trump, Axios, who'd, Joe Biden, —, Daniels, Joe, Trump, Crypto, Frank Degods, Biden, Gary, Gensler, you'd Organizations: Mar, Trump, Service, Biden, Securities, Exchange, SEC, cryptocurrencies

☆ BofA Securities' Vivek Arya reacts to Arms Q4 earnings
▼ + stars: | 2024-05-09 | 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 EmailBofA Securities' Vivek Arya reacts to Arms Q4 earningsVivek Arya, Bank of America Securities senior semiconductor analyst, joins CNBC's 'Squawk on the Street' to discuss the semiconductor sector, Arms Holding earnings, AI, and more.

Persons: Vivek Arya Organizations: BofA, Bank of America Securities, Arms

The Major Supreme Court Cases of 2024No Supreme Court term in recent memory has featured so many cases with the potential to transform American society. In 2015, the Supreme Court limited the sweep of the statute at issue in the case, the Sarbanes-Oxley Act of 2002. In 2023, the Supreme Court temporarily blocked efforts to severely curb access to the pill, mifepristone, as an appeal moved forward. A series of Supreme Court decisions say that making race the predominant factor in drawing voting districts violates the Constitution. The difference matters because the Supreme Court has said that only racial gerrymandering may be challenged in federal court under the Constitution.

Persons: Donald J, Trump, Anderson, Sotomayor Jackson Kagan, Roberts Kavanaugh Barrett Gorsuch Alito Thomas, Salmon, “, ”, Mr, Nixon, Richard M, privilege.But, Fitzgerald, Vance, John G, Roberts, Fischer, Ruth Bader Ginsburg, Clarence Thomas, Samuel A, Alito Jr, Alito, ’, Moyle, Wade, Roe, Johnson, Robinson, Moody, Paxton, Robins, Media Murthy, Sullivan, Murthy, Biden, Harrington, Sackler, Alexander, Jan, Raimondo, ” Paul D, Clement, Dodd, Frank, Homer, Cargill Organizations: Harvard, Stanford, University of Texas, Trump, Liberal, Sotomayor Jackson Kagan Conservative, Colorado, Former, Trump v . United, United, Sarbanes, Oxley, U.S, Capitol, Drug Administration, Alliance, Hippocratic, Jackson, Health, Supreme, Labor, New York, Homeless, Miami Herald, Media, Biden, National Rifle Association, Rifle Association of America, New York State, Purdue Pharma, . South Carolina State Conference of, Federal, Loper Bright Enterprises, . Department of Commerce, Chevron, Natural Resources Defense, ”, SCOTUSPoll, Consumer Financial, Community Financial Services Association of America, Securities, Exchange Commission, Exchange, Occupational Safety, Commission, Lucia v . Securities, Federal Trade Commission, Internal Revenue Service, Environmental Protection Agency, Social Security Administration, National Labor Relations Board, Air Pollution Ohio, Environmental, Guns Garland, Alcohol, Tobacco, Firearms, Explosives, National Firearms, Gun Control Locations: Colorado, Trump v . United States, United States, Nixon, Florida, Gulf of Mexico, Dobbs v, Idaho, Roe, Texas, States, New, New York, Grants, Oregon, . California, Martin v, Boise, Boise , Idaho, Missouri, Parkland, Fla, Murthy v . Missouri, . Missouri, ., South Carolina, Alabama, SCOTUSPoll, Lucia v, Western

☆ Dollar holds its ground as key inflation data looms
▼ + stars: | 2024-05-09 | by ( ) www.cnbc.com time to read: +2 min

U.S. one hundred dollar bills are being shown in this picture illustration taken in Buenos Aires, Argentina, on Dec. 15, 2023. Against the Japanese yen, the dollar slowly inched up after it fell more than 3% last week, its biggest weekly percentage drop since early December 2022. Japan's top currency diplomat Masato Kanda on Thursday reiterated a warning that Tokyo is ready to take action in the currency market. The dollar index rose to 0.05% to 105.55, while the Japanese yen was mostly flat at 155.59 per greenback. The BOE is likely to take another step towards its first interest rate cut in four years as inflation falls.

Persons: Masafumi Yamamoto, Masato Kanda, Susan Collins, Sterling, BOE, bitcoin Organizations: Federal Reserve, Bank of, Mizuho Securities, Traders, PPI, Fed Bank of Boston, European Central Bank Locations: Buenos Aires, Argentina, Japan, U.S, United States, Tokyo, —

☆ Chinese EV maker Zeekr prices IPO at $21, at the top end of range, reports say
▼ + stars: | 2024-05-09 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

A Zeekr 001 electric vehicle (EV) by Geely is seen displayed at the Zeekr booth during a media day for the Auto Shanghai show in Shanghai, China April 19, 2021. Chinese electric vehicle maker Zeekr priced its initial public offering at $21 a share Thursday, at the top end of its range, according to news reports. Zeekr, which is backed by Chinese-based automotive group Geely, offers several luxury vehicle models, including an upscale sedan it began delivering in January. "Our sales gap with Tesla keeps on narrowing," Zeekr CEO Andy An told CNBC in an interview last month translated from Mandarin. Zeekr has said it plans to use the proceeds from the offering to develop more advanced battery electric vehicle technologies.

Persons: Geely, Tesla, Andy, Zeekr, Goldman Sachs, Morgan Stanley, Merrill Lynch Organizations: Auto Shanghai, New York Stock Exchange, Reuters, Bloomberg News, Securities and Exchange Commission, SEC, Tesla, CNBC, Underwriters, China International Capital Locations: Shanghai, China, Zhejiang, Europe, Latin America, Sweden, Netherlands

☆ BofA Securities says copper is one of its top commodity picks
▼ + stars: | 2024-05-09 | 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 EmailBofA Securities says copper is one of its top commodity picksMatty Zhao, head of Asia-Pacific basic materials and oil and gas research at BofA Securities, says artificial intelligence will boost the demand for copper and the metal's prices.

Persons: Matty Zhao Organizations: BofA Securities Locations: Asia, Pacific

☆ Trump Media investor convicted of insider trading ahead of merger
▼ + stars: | 2024-05-09 | by ( Dan Mangan | ) www.cnbc.com time to read: +4 min

A federal jury in New York on Thursday convicted an investor of insider trading in the stock of a shell company ahead of its announcement in October 2021 that it would merge with Trump Media . Two co-defendants of Garelick, the brothers Michael and Gerald Shvartsman, pleaded guilty to insider trading charges on April 3. "Garelick's federal conviction is yet another stark reminder that insider trading is always a losing bet." DWAC and Trump Media completed their merger in late March. Trump Media hired a new auditor, Semple, Marchal & Cooper LLP last weekend to replace BF Borgers.

Persons: Bruce Garelick, Donald Trump, Stormy Daniels, Michael, Gerald Shvartsman, Garelick, Michael Shvartsman's, Damian Williams, Williams, DJT, Benjamin Borgers, Semple, Cooper Organizations: Manhattan Federal Court, Trump Media, Trump, Garelick, Rocket, Prosecutors, Acquisition Corporation, Trump Media & Technology Group, Manhattan U.S, Public, Securities and Exchange Commission, SEC, BF, CPA, Marchal Locations: Manhattan, New York City, New York, U.S

☆ These global tech stocks have beaten the S&P 500 this year — and analysts give them over 20% upside
▼ + stars: | 2024-05-08 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

U.S. stocks have been rather volatile in the past month, but in the past week they had a strong run on hopes of rate cuts. Tech stocks, which would be boosted by rate cuts, have been a big part of that rally — with Meta , Alphabet and Amazon in particular having a strong showing over the past couple of weeks. Elsewhere, analysts are getting more optimistic on China stocks, especially those in the tech sector. Kevin Liu, managing director and strategist at CICC Research, said his conviction call would be a structural barbell allocation with themes including tech names "with high-end upgrading opportunities," among others. Stock screen Against this backdrop, CNBC Pro screened FactSet for stocks from four exchange-traded funds (KraneShares CSI China Internet ETF, Vanguard Information Technology ETF, Invesco China Technology ETF and the iShares MSCI China Multisector Tech ETF) to find stocks that: have beaten the S & P 500's around 9% year-to-date performance.

Persons: Bernstein, Kevin Liu Organizations: Dow Jones, Tech, UBS, CICC Research, CNBC Pro, CSI China Internet, Vanguard Information Technology, China Technology ETF, China Multisector Tech Locations: China

☆ The DoJ is reportedly investigating if Tesla committed securities or wire fraud in Autopilot probe
▼ + stars: | 2024-05-08 | by ( Grace Kay | ) www.businessinsider.com time to read: +1 min

The Department of Justice is investigating potential securities or wire fraud by Tesla, Reuters reported. The probe reportedly centers on Tesla's promotion of its driver assist software. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe Department of Justice is looking into potential securities or wire fraud connected with Tesla's efforts to promote its driver assist software, according to a report by Reuters that cited unnamed sources. In 2022, the news agency first reported that the DoJ had launched a criminal probe into Tesla and its self-driving claims, but further details regarding the scope of the investigation were previously unknown.

Persons: Tesla, — Organizations: Justice, Reuters, Service, DoJ, Tesla, Business

☆ These ETFs promise investors downside protection — at a cost
▼ + stars: | 2024-05-08 | by ( Michelle Fox | ) www.cnbc.com time to read: +7 min

Investors looking for protection against market downside are turning toward buffer exchange-traded funds, also known as defined-outcome ETFs. Buffer ETFs have exploded in popularity in recent years, although they are still a small slice over the overall industry. How buffer ETFs work Managers use a set of equity options when building a fund. Recently, Calamos announced a new product line of 12 ETFs that offers 100% downside protection. The first in the line, Calamos S & P 500 Structured Alt Protection ETF (CPSM) , began trading May 1.

Persons: Lan Anh Tran, Morningstar, Tran, Todd Sohn, Strategas, Sohn, Calamos, Russell, Matt Kaufman, Kaufman, Morningstar's Tran, HELO 1Y, It's Organizations: Morningstar, Strategas Securities, Capital Management, Equity, PGIM, Allianz, BlackRock, Treasury, Trust, JPMorgan Hedged Equity, JPMorgan Locations: BlackRock

☆ Tesla quietly spent $2 million on a technology Elon Musk previously trashed as a 'fool's errand'
▼ + stars: | 2024-05-08 | by ( Ana Altchek | ) www.businessinsider.com time to read: +3 min

Read previewTesla spent around $2 million on lidar, a technology used in EVs that Elon Musk has previously referred to as a "fool's errand" and that any carmakers relying on it are "doomed." But according to a recent earnings report from lidar manufacturer Luminar, Tesla was its largest customer last quarter and "comprised more than 10%" of its revenue during the period. The CEO said Tesla EVs only rely on camera-based vision systems for driver-assist features. The Tesla CEO said he personally ran a project at SpaceX to create lidar sensors to help navigation. Last year, Tesla recalled over 2 million vehicles after regulators said its Autopilot system didn't protect enough against drivers misusing it.

Persons: —, Tesla, Elon Musk, Luminar, Lidar, lidar, Musk, Elon Musk's Organizations: Service, Business, Systems, SpaceX, Tesla, Luminar, Traffic Safety Administration, US Department of Justice Locations: EVs, Tesla's

☆ Robinhood climbs after reporting record earnings for first quarter
▼ + stars: | 2024-05-08 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Shares of Robinhood rose in extended trading Wednesday afternoon after the retail brokerage announced stronger-than-expected first-quarter results. Robinhood reported net income of $157 million, or 18 cents per share, for the first quarter. Cryptocurrency transactions accounted for $126 million in revenue in the quarter, the company said. Robinhood said that its number of funded customers rose by 810,000 year over year to 23.9 million. Shares of Robinhood were up nearly 40% year to date before Wednesday's earnings announcement.

Persons: Robinhood, Dan Gallagher, Robinhood's Organizations: LSEG, Securities and Exchange Commission

☆ Bill Hwang, Whose Firm Archegos Collapsed in 2021, Is About to Go on Trial
▼ + stars: | 2024-05-08 | by ( Matthew Goldstein | ) www.nytimes.com time to read: +1 min

Three years ago, a multibillion-dollar investment firm called Archegos Capital Management blew up with little warning, causing big losses for some Wall Street banks and leading to federal criminal charges against the firm’s founder, Bill Hwang. On Wednesday, Mr. Hwang, 60, who was charged with 11 counts of securities fraud, wire fraud, conspiracy, racketeering and market manipulation, is set to go on trial in Manhattan federal court. Federal prosecutors are seeking to secure a conviction in a major stock market manipulation case in which Mr. Hwang, whose legal name is Sung Kook Hwang, was one of the big financial losers. Archegos had managed money mainly for Mr. Hwang, his family and some of his employees, and much of his family’s wealth was wiped out when the firm collapsed in March 2021. Also on trial with Mr. Hwang is Patrick Halligan, the former chief financial officer of Archegos.

Persons: Bill Hwang, Hwang, Sung Kook Hwang, Archegos, Patrick Halligan Organizations: Archegos Capital Management, Authorities Locations: Manhattan, Wall

☆ Justice Dept. examining if Tesla committed wire, securities fraud in self-driving claims: Reuters
▼ + stars: | 2024-05-08 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJustice Dept. examining if Tesla committed wire, securities fraud in self-driving claims: ReutersCNBC's Phil LeBeau joins 'Squawk Box' to discuss the latest news on Tesla.

Persons: Tesla, Phil LeBeau Organizations: Reuters

☆ In Tesla Autopilot probe, U.S. prosecutors focus on securities, wire fraud, Reuters reports
▼ + stars: | 2024-05-08 | by ( ) www.cnbc.com time to read: +3 min

U.S. prosecutors are examining whether Tesla committed securities or wire fraud by misleading investors and consumers about its electric vehicles' self-driving capabilities, three people familiar with the matter told Reuters. Tesla's Autopilot and Full Self-Driving systems assist with steering, braking and lane changes — but are not fully autonomous. Investigators are exploring whether Tesla committed wire fraud, which involves deception in interstate communications, by misleading consumers about its driver-assistance systems, the sources said. They are also examining whether Tesla committed securities fraud by deceiving investors, two of the sources said. The Securities and Exchange Commission is also investigating Tesla's representations about driver-assistance systems to investors, one of the people said.

Persons: Tesla, Elon, Musk Organizations: Reuters, Justice Department, The Securities, Exchange Commission, SEC, Prosecutors Locations: U.S, Teslas

☆ These bond funds offering yields upward of 5% could take off as Fed policy becomes uncertain
▼ + stars: | 2024-05-07 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +5 min

That shakiness around when the cuts are coming, as well as the expectation that rates could remain higher for longer creates an opportunity for active managers. Rick Rieder, BlackRock's global chief investment officer of fixed income, told CNBC in a phone interview. Indeed, core bond funds were among the winners in the 2008 crisis. For starters, they should think about the role they want a given bond fund to play within their portfolio: Is it to offset equity risk or to boost returns? "You're not investing in bond funds to shoot the lights out and build your wealth pile," said Morningstar's Jacobson.

Persons: Rick Rieder, Rieder, Eric Jacobson, Morningstar, John Croke ,, Morningstar's Jacobson, Jaime Quinones, they're, Quinones Organizations: Federal Reserve, Barclays, Bank of America, Citigroup, CNBC, Bloomberg, SEC, Morningstar, Vanguard, Stockade Wealth Management, Mutual Locations: Marlboro , N.J

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