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‘Veep’ Is Re-elected
  + stars: | 2024-07-23 | by ( Alexis Soloski | ) www.nytimes.com   time to read: +1 min
“Veep,” HBO’s merciless satire of Washington politics, went out with a gleeful whimper in 2019, a casualty of the Trump presidency. “We felt we couldn’t keep up with that,” Frank Rich, an executive producer of the series, said on Monday. The internet was suddenly rife with “Veep” clips, GIFs and fancams. “Was the HBO show ‘Veep’ just a documentary filmed in the past about the future?” one post read. “Now we know what HBO’s ‘Veep’ writers were doing during the strike,” read another.
Persons: , , Trump, ” Frank Rich, Biden, Kamala Harris, Max, Veep Organizations: Democratic Locations: Washington, Veep
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailA Trump presidency could 'on balance' be positive for markets, CIO saysDaniele Antonucci, CIO at Quintet Private Bank, weighs in on the outlook for markets and discusses how they could be impacted if former President Donald Trump wins back the White House.
Persons: Trump, Daniele Antonucci, Donald Trump Organizations: Private Bank
Industry experts tell CNN that, far from stealing, Taiwan grew its own semiconductor industry organically through a combination of foresight, hard work and investment. The only possible strength that Taiwan had, and even that was a potential one, not an obvious one, was semiconductor manufacturing,” he said. Billionaire Morris Chang, chairman and founder of Taiwan Semiconductor Manufacturing Company, in Hsinchu, Taiwan, on October 6, 2017. It now produces more than 90% of the world’s advanced chips, according to the Semiconductor Industry Association. “Taiwan has very good tech talent and an environment for research, development and investment.
Persons: Donald Trump, Morris Chang, Chang, , , Billionaire Morris Chang, Wang, Christopher Miller, Miller, TSMC, ” Konrad Young, ” Young, Cho Jung, ” Cho, Trump, Trump’s, Joe Biden, Young Organizations: Taiwan CNN — Former, Bloomberg Businessweek, Republican, Industry, CNN, Taiwan Semiconductor Manufacturing, Intel, Motorola, Texas, Computer, Taiwan Semiconductor Manufacturing Company, Bloomberg, Getty, Semiconductor Industry Association, Technology, Samsung Electronics, US, Trump Locations: Taipei, Taiwan, United States, Mountain View , California, Hsinchu, Washington, “ Taiwan, China, , South Korea, Arizona
"We will continue to have both bulls and bears because you have both sides who are talking about the uncertainty, increased uncertainty regarding the presidency," Stovall added. A 'Red Wave'? "It seems as if the greatest likelihood is a red wave," Stovall said. Trump trade hurt? To be sure, Sunday's announcement could pump the brakes on the so-called Trump trade seen since the late-June debate.
Persons: Joe Biden's, Biden, Kamala Harris, Sam Stovall, Trump, Stovall, it's, , PredictIt, Harris, CFRA's Stovall, Wells, Stephen Baxter, Baxter, Oppenheimer, Hogan, Riley, It's, Kim Forrest, Forrest, Fred Imbert Organizations: Trump, CFRA, Democratic National Convention, Republican, Democratic, Medicaid, Med Adv, Bokeh Capital Partners Locations: Friday's
Safe-haven gold firms as Biden move sparks market uncertainty
  + stars: | 2024-07-22 | by ( ) www.cnbc.com   time to read: +2 min
A one kilogram gold bar sits on top of silver bars at London bullion dealers Gold Investments in London, United Kingdom, on April 4, 2013. Gold prices firmed on Monday as the dollar eased following U.S. President Joe Biden's decision to withdraw from the 2024 presidential race, with investors turning to bullion as a hedge against an uncertain political and market outlook. Spot gold rose 0.2% at $2,405.40 per ounce, as of 0510 GMT, while U.S. gold futures gained 0.3% to $2,407.20. The prospect of rate cuts and political uncertainty in the United States are supporting gold prices, and conditions are in place for gold to see another record high before the end of 2024, said Kyle Rodda, a financial market analyst at Capital.com. Among other metals, spot silver fell 0.5% to $29.11 per ounce, platinum slipped 0.3% to $959.99, while palladium rose 1.1% to $916.18.
Persons: Joe Biden's, Kyle Rodda, Joe Biden, Donald Trump, Trump, Gold, Rodda Organizations: London, Investments, Republican, U.S Locations: London, United Kingdom, United States, U.S, China
The impact of these deep strikes has been eye-opening for Europe and the US, opening "Pandora's box" for more of these capabilities, a nuclear weapons and arms control expert told Business Insider. The conventional weapons include SM-6, Tomahawk, and developmental hypersonic weapons, "which have significantly longer range than current land-based fires in Europe." "The war in Ukraine shows that long-range strikes are a key issue for the defense of Europe," Lecornu posted on X. "These countries knew that long-range weapons were important even before Russia invaded Ukraine, but Russia's war in Ukraine has opened Pandora's Box to more and more military steps," explained Hans Director of the Nuclear Information Project at the Federation of American Scientists. US Navy photo by Mass Communication Specialist 1st Class Jonathan WordPoland, Germany, France, and Italy's new long-range missile plans follow work in the US to quickly develop new long-range strike systems.
Persons: , Andrew Dickson, Sebastien Lecornu, Lecornu, Hans, Thierry Wurtz, " Kristensen, Jonathan, Zachary Anderson There's, it's, Kristensen, Trump, he'd Organizations: Service, Business, NATO, Army, Artillery, U.S, French, Russia, Federation of American Scientists, Rafale, US, Attack Missiles, US Navy, Jonathan Word, Trump Locations: Ukraine, Russia, Europe, Germany, Australia, Poland, Italy, Moscow, Jonathan Word Poland, France
Investors are gauging what a potential Kamala Harris presidency could mean for the stock market. Second-quarter GDP and the June PCE index will be released later this week. The gains came one day after President Joe Biden announced he would not seek re-election, and instead endorsed his Vice President, Kamala Harris. That will be followed by the Federal Reserve's preferred inflation gauge, the PCE index, at 8:30 a.m. on Friday. Economists expect the June Core PCE index to rise 2.5% year over year, which is not far off from the Fed's long-term inflation target of 2%.
Persons: Kamala Harris, , Joe Biden, Harris, Donald Trump, Trump's, JD Vance, Alex Saunders Organizations: Service, Technology, Nasdaq, Trump, Citi, Federal, Here's Locations: California
In episode titled “Bart to the Future,” which released in 2000, Lisa Simpson is shown growing up to become the first female president of the United States. Al Jean, one of the best known among “The Simpsons” writers, commented about the similarity on social media. But it’s not the first time an episode of “The Simpsons” has served as a coincidental Magic 8 Ball. The Simpsons Smartwatch prediction (1995) via @mashable. The Simpsons - Gunter & Ernst & the White Tiger AnastasiaIn the episode, a white tiger attacks “Gunter and Ernst” during their act as revenge for having been snatched away from his life in the wild.
Persons: Bart, Lisa Simpson, She’s, Kamala Harris, Al Jean, , it’s, Trump, Lady Gaga, Gaga, Siegfried, Roy, Siegfried Fischbacher, Roy Horn, Anastasia, “ Gunter, Ernst ”, Horn Organizations: CNN, Trump Trump, Super, Springfield, Gunter, Ernst, London Symphony, London Symphony Orchestra, London’s Royal Albert Hall Locations: United States, Cypress, Hill
Mega-cap tech stocks have a lot to prove with upcoming second-quarter earnings results. The long-term outperformance of mega-cap tech relative to small-cap stocks is being tested by slowing revenue growth. AdvertisementThe mega-cap tech rally hit a wall in recent weeks as investors turned their attention to small-cap stocks in a historic way. That's in stark contrast to the dominance of mega-cap tech stocks relative to small-cap stocks over the past one-, three-, five-, and ten-years. Investors will get their first taste of mega-cap tech earnings on Tuesday, with Tesla and Alphabet set to release their second-quarter results after the market close.
Persons: Goldman Sachs, , Russell, David Kostin, Kostin, That's Organizations: Service, Vanguard, Growth, Tech, Investors, Microsoft, Apple, Amazon, Nvidia, Big Tech, Trump
The tight timeline will magnify any missteps Ms. Harris might make but also minimize the chances for a stumble. And in a race that Mr. Trump had been on a trajectory to win, Ms. Harris immediately becomes the ultimate X-factor. She was making the argument for herself but the logic applies to Ms. Harris, too. Her day job is not nearly as demanding as Mr. Biden’s, and she can barnstorm the country at a pace far faster than Mr. Trump has undertaken. And while Ms. Harris did not carve out a reputation in California as an outspoken progressive — her tagline as D.A.
Persons: Kamala Harris, Donald J, Biden’s, Harris, Trump, Biden, Nikki Haley, Mr, ” Erin Wilson, Harris’s, She’s, Trump’s, Dave Sanders, , Scranton Joe, ’ Harris, Yuri Gripas, Hillary Clinton, Erin Schaff, Reid J, Epstein Organizations: Democratic, Trump, Democratic Party, Republican, Trump Republicans, Democrats, The New York Times, Committee, Mr, New York, The Trump, Biden, Black, ABC, Fox News, Republicans, Air Force, Senate Locations: Europe, Manhattan, New, California, San Francisco, Milwaukee
Joe Biden's withdrawal from the 2024 presidential race is causing market uncertainty. Analysts now expect more market volatility after Biden pulled out of the race. AdvertisementUS President Joe Biden's withdrawal from the presidential election is throwing fresh uncertainty into the markets for a second straight week. Investors were already trying to position themselves for the so-called "Trump trade" following the failed assassination attempt on former President Donald Trump on July 13. Markets at large were relatively calm following Biden's withdrawal after the Trump trade gripped sentiment last week.
Persons: Joe Biden's, Trump, Biden, , Donald Trump, Mark Haefele, Jim Reid, Kyle Rodda, Harris, Chris Weston, Pepperstone, Kamala Harris, Biden's, Haefele Organizations: Service, Trump, Republican, UBS Global Wealth Management's, Nasdaq, Treasury, Deutsche Bank, Democrats, Democratic Party, Democratic, UBS
Investment banking was the rock star of big bank earnings this season. For Club stock Morgan Stanley, investment banking revenues surged 51% year over year with equity underwriting fees jumping over 56%, and advisory fees increasing over 30% from the year-ago period. Wells Fargo's investment banking revenues, which fall underneath its corporate and investment banking (CIB) division, jumped 38% year over year. "The investments we have been making allowed us to take advantage of the market activity in the quarter with strong performance in investment advisory, trading and investment banking fees." And good news for investors, it doesn't look like the rebound in investment banking is slowing anytime soon.
Persons: Morgan Stanley, Wells, JPMorgan Chase, Goldman Sachs, Goldman, Morgan, We've, Morgan Stanley's, NII, Charlie Scharf, Ted Pick, we're, David Solomon, Donald Trump, Jim Cramer's, Jim Cramer, Jim, JPMorgan Organizations: JPMorgan, Bank of America, Citigroup, Citi, Investment, IB, Federal Reserve, Wells, CNBC, CIB, Morgan, Wall, Citibank, JPMorgan Chase, Reuters Locations: Wells Fargo, Wells, U.S
Opinion | As Biden Withdraws, Words of Praise and Caution
  + stars: | 2024-07-21 | by ( ) www.nytimes.com   time to read: +1 min
To the Editor:Re “Biden Drops Out of Presidential Race, Endorses Harris” (live updates, nytimes.com, July 21):Dear President Biden: Thank you for your many years of incredible service to the country. Thank you for realizing there was no viable way forward. Barbara GoldPhiladelphiaTo the Editor:President Biden has once again shown himself to be the ultimate patriot by putting country and the need to protect America from the danger of another Trump presidency before his personal desire to run for re-election. However, it was a mistake for him to endorse Vice President Kamala Harris and possibly clear the field of competitors by doing so. The Democrats need an open selection process to ensure that the strongest candidate is selected.
Persons: Re “, Harris ”, Biden, Barbara Gold, Kamala Harris Organizations: Barbara Gold Philadelphia, Trump Locations: America
Senator Tammy Baldwin, a Wisconsin Democrat seeking re-election, has noticed voters returning to the same question in recent days as she crisscrosses her state to make the case for her campaign: Does she think President Biden can win in November, and should he even try? “Typically, I’ll go to an event; I’ll share my remarks,” Ms. Baldwin said in an interview on Friday at a newly opened campaign office in southwestern Wisconsin. “And then people come up one by one and — at first in a whisper — are really concerned.”A soft-spoken two-term senator who has carved out a reputation for her cross-party appeal, Ms. Baldwin easily cruised to victory in 2018, and her race this year was never expected to be ultracompetitive, even in this crucial swing state. But rising concerns about Mr. Biden’s age and fitness to run have introduced new risks for Democratic candidates like Ms. Baldwin just 100 days out from Election Day, imperiling even seats that were once considered relatively safe for the party. That has left Democrats already anxious about losing the White House to former President Donald J. Trump contemplating the prospect of widespread losses in Congress that could leave the party locked out of power altogether during a Trump presidency and well beyond.
Persons: Tammy Baldwin, Biden, ” Ms, Baldwin, imperiling, Donald J, Trump Organizations: Wisconsin Democrat, Democratic, White, Trump Locations: Wisconsin
Trump has long been known for the brash, even vulgar way he sometimes speaks about women. “President Trump championed my journey, empowering me to be who I became today,” Habba said. “The media’s negative portrayal of President Trump and his treatment of women is entirely false,” Karoline Leavitt, the Trump campaign’s national press secretary, said in a statement. “Every attack on President Trump only strengthens our movement,” said Habba, who represented Trump in the Carroll defamation suit. “Sham indictments and baseless allegations will not deter us, because the only crime President Trump has committed is loving America.”
Persons: Sarah Huckabee Sanders, Donald Trump, Trump, Alina Habba, Kai Trump, ” Sanders, “ Sarah, Bernadette Tuazon, , ” Habba, Kellyanne Conway, Trump’s, ” Conway, , , ” Lara Trump, Luke, President Trump, ” Karoline Leavitt, Leavitt, Trump’s brashness, Biden, Megyn Kelly, Kelly, Carly Fiorina, Sen, Ted Cruz, Hillary Clinton, ” Clinton, Jean Carroll, Carroll, White, Joe Biden, “ Mr, ” Biden, he’s, Habba, “ Sham Organizations: CNN, Republican, Republican National Convention, Democratic, White, , RNC, White House, Republican National Committee, Trump Locations: Milwaukee, Arkansas, ” Arkansas, Carolina, , Ted Cruz of Texas, Florida, Detroit, America
Read previewDonald Trump has been an outspoken critic of EVs — and that could spell trouble for America's electric vehicle industry. AdvertisementMusk also reportedly played a part in Trump choosing Ohio senator JD Vance, an even fiercer critic of electric vehicles, as his vice president. Subsidy fearsThe potential loss of the $7,500 tax credit has already sparked concern in the EV industry. "If we see that tax credit cut, then EVs start looking insurmountably expensive for most consumers," he said. "They're already making money building electric vehicles, and the incentive just helps boost volume rather than boosting profits," he added.
Persons: , Donald Trump, EVs, Elon, Trump, Trump's, Musk, JD Vance, Vance, Biden, Tesla, Jon McNeill, Dylan Khoo, Sam Fiorani, Khoo, Elon Musk's, Dan Ives, Ives, Tesla's Organizations: Service, Business, Trump, PAC, Ohio, US, Motors, CNBC, ABI Research, Global, AutoForecast Solutions, Bloomberg Businessweek, Wedbush Securities, EV Locations: Trump, Communist China, China
But she warned that things could get more chaotic for Democrats if Biden were to make the extraordinary move to end his campaign just weeks before the Democratic convention. In a twist for the left-leaning Ocasio-Cortez, her comments make her among the more forceful pro-Biden voices in the party right now. Many progressives, including Ocasio-Cortez and Sen. Bernie Sanders, I-Vt., are primarily driven by policy goals and know they have Biden's ear. The strategist said part of the reason progressives like Ocasio-Cortez are backing Biden is the "bird in hand phenomenon" — there's a "comfort level" with Biden in the White House. Ocasio-Cortez also cautioned followers that Biden has unique electoral strengths that other Democrats cannot expect to replicate.
Persons: Joe Biden, Alexandria Ocasio, Donald Trump, Biden, Clarence Thomas, Cortez, wasn't, Sen, Bernie Sanders, Kamala Harris, Mark Pocan, Pocan, Harris, Kamala —, Harris —, It's, Lisa Lint, Vander, it's Organizations: Rep, Biden, Democrats, Democratic, Trump, Congressional Progressive Caucus, CPC, Grand Rapids, Twitter Locations: Alexandria, Cortez, Grand
For Europe, the prime concern is tariffs," wrote Goldman analysts. "If the entire impact came in 2025 this would be enough to eliminate any growth that year (our current top-down forecast is 4%)," Goldman wrote. Within sectors, beneficiaries of rising trade risks tend to be defensive stocks such as utilities, health care as well as Europe's GRANOLAS stocks, according to the bank. But he says a "meaningful selloff" in mega tech will see other names "pushed down as collateral damage." And if the AI narrative plays out as expected, a material sell-off in Mega Tech will present a buying opportunity in those names as well," he wrote.
Persons: Biden, Donald Trump, Trump, Europe's, Goldman Sachs, Goldman, Louis Navellier, — CNBC's Michael Bloom Organizations: Bloomberg, Taiwan, Trump, U.S, JPMorgan, China Gas, Power, Huaneng, Republicans, National Security, Hire, GSK, Roche, ASML, Nestle, Novartis, Novo Nordisk, L'Oreal, LVMH, AstraZeneca, SAP, Sanofi, Liquide, Tobacco, Dassault Systemes, Intercontinental Hotels, Nvidia, Navellier, Associates, Mega Tech Locations: China, Taiwan, U.S, Hong Kong, Europe, United States, Germany, France, Stellantis
Read previewA draft budget approved by Germany's government shows the country is planning to halve its military aid to Ukraine next year. The draft budget slashes the amount promised to Ukraine to $4.35 billion in 2025, compared to the roughly $8.14 billion it is receiving this year, Reuters reported. There are fears that Trump will scale back or even totally halt US aid to Ukraine. Germany is the second-biggest donor country by volume of military aid to Ukraine and is Europe's biggest economy. As such, the draft budget is a "moral hazard" for the country, Loss said.
Persons: , Christian Lindner, Lindner, Rafael Loss, Donald Trump, Mary, Trump, he's, MAGA, JD Vance, there's, Olaf Scholz, Scholz Organizations: Service, Reuters, German, Business, European Council, Foreign Relations, Ukraine, Politico, Trump Loss, NATO Locations: Ukraine, Germany, Berlin, Europe
Read previewAs we near the November elections, investors are increasingly focused on what a Donald Trump win would mean for global markets and economies. The charts below show how stock sectors moved in the 24 hours after the debate and how a Trump administration might impact sectors with varying regulatory burdens. If Trump wins, investors will need to cut through the noise and at least understand how he might impact different parts of the economy. Where monetary policy is concerned, leading economist Christophe Barraud believes a Trump administration could pressure the Federal Reserve to be very accommodative on rates, in other words, steeper or sooner cuts. It expects a Trump Administration to allow LNG export permits after the Biden Administration attempted to halt them.
Persons: , Donald Trump, Goldman Sachs, Joe Biden, Trump, Solita, Samantha Lamas, Goldman, Goldman's Jan Hatzius, Christophe Barraud, Bloomberg Businessweek Trump, Morgan Stanely, Morgan Stanley Organizations: Service, Trump, Business, Trump Media, Technology, UBS, Americas Global Wealth Management, Morningstar, Federal Reserve, Bloomberg Businessweek, Korea, Asia Pacific's, Republican, Trump Administration, Biden Locations: Predictit, Mexico, Canada, China, Japan, Germany, Asia, Goldman Sachs, Washington
Chinese President Xi Jinping and former U.S. President Donald Trump in Beijing, China, in 2017. "So this is not going to be a sustainable driver of growth for China." China's exports to the U.S. rose by a modest 1.5% in the first half of the year. Citi forecasts 5.0% growth in real GDP growth for China this year. UBS forecasts 4.9% growth for China's economy this year.
Persons: Xi Jinping, Donald Trump, Artyom Ivanov, Goldman Sachs, Trump, JD Vance, Hui Shan, CNBC's, Janet Yellen, Vance, Biden, Mike Pence wouldn't, MAGA, Lin Jian, Goldman's Shan, Shan, Tao Wang Organizations: TASS, Getty, BEIJING, U.S, European, Citi, Fox News, Trump, Capitol, China's Ministry of Foreign Affairs, CNBC, UBS Investment Bank, UBS Locations: Beijing, China, U.S, European Union, Asia, Ukraine
Following the trade, Jim Cramer's Charitable Trust will own 350 shares of AMD, increasing its weighting to 1.63% from 1.4%. There's also been a rotation out of secular growth and AI stocks and into companies that benefit more from future interest rate cuts. And due to this week's sell-off, AMD shares are now trading around their lowest levels since May. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Jim Cramer's, Wednesday's, Biden, Donald Trump, There's, Let's, It's, We've, Lisa Su, Jim Cramer, Jim Organizations: AMD, Taiwan Semiconductor Manufacturing Company, Republican, CNBC Locations: China, Taiwan
Read previewChina has pressed pause on arms control and nuclear proliferation talks with the US, blaming the suspension on US arms sales to Taiwan. This story is available exclusively to Business Insider subscribers. "China has chosen to follow Russia's lead in asserting that engagement on arms control can't proceed when there are other challenges in the bilateral relationship. US President Joe Biden and Chinese leader Xi Jinping began talks on nuclear proliferation and arms control in November, ahead of the first formal dialogue between the US and China in five years. Representatives for Biden and Jinping did not immediately respond to requests for comment from Business Insider.
Persons: , Matthew Miller, Joe Biden, Xi Jinping, Ali Wyne, Donald Trump, JD Vance, Biden, Jinping Organizations: Service, Communists, Business, US State Department, Crisis, Pentagon, Biden, Brookings Institution, Trump Locations: China, Taiwan, Beijing
Read previewBarely a week after the failed assassination of former US President Donald Trump, investors are already moving on from the "Trump trade." The "Trump trade" refers to investor strategies that reflect the market consequences of a second Trump presidency. Schumacher said the "Trump trade" has run its course and is "about done for now." Focus on Fed interest rate decisionTo be sure, a second Trump presidency — including his administration's trade and tariff policies — would have important implications for the macroeconomy and markets, say most analysts. On Wednesday, Fed Governor Christopher Waller indicated that the central bank would cut "in the not-too-distant future."
Persons: , Donald Trump, Trump, Michael Schumacher, Schumacher, Vishnu Varathan, Mizuho Bank's, Jerome Powell, Christopher Waller Organizations: Service, Trump, Business, Federal Reserve, US Treasury, Bloomberg, Wells, Wells Fargo Securities, Fed, Swiss, UBS Locations: Wells Fargo, Asia, Japan
Germany to slash military aid budget in blow to Ukraine
  + stars: | 2024-07-18 | by ( Sophie Kiderlin | In | ) www.cnbc.com   time to read: +3 min
Around 5.4 billion euros had been allocated to the fund in 2023, the budget outline shows. In recent years, large amounts of this section of the German budget has been allocated to support Ukraine following Russia's attack of the country. It also noted that Germany would continue to support Ukraine for as long as needed, in collaboration with its allies. The government had planned to re-allocate unused emergency debt, which was taken on during the Covid-19 pandemic, to its future spending plans. The German parliament will debate the draft budget when it returns from its summer break in September before it is finalized later in the year.
Persons: Christian Lindner, Donald Trump's, Sen, JD Vance, Olaf Scholz Organizations: Ukraine, CNBC, Reuters, Trump, Trump's, Military, NATO Locations: Germany, Ukraine, Russia
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