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Watch CNBC's full interview with Polymarket CEO Shayne Coplan
  + stars: | 2024-11-07 | 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 EmailWatch CNBC's full interview with Polymarket CEO Shayne CoplanPolymarket CEO Shayne Coplan joins 'Squawk Box' to discuss the prediction market, its impact on the 2024 election, influence of the 'Trump whale', the role of prediction market vs. traditional polls, and more.
Persons: Shayne Coplan
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. election ultimately came down to kitchen-table economics, says Prinsights founderNomi Prins, founder of Prinsights Global, talks about why President-elect Donald Trump won the election and what economic issues the Republican administration will focus on.
Persons: Nomi Prins, Donald Trump Organizations: Prinsights
The Amazon founder's net worth soared to an all-time high of $228 billion on Wednesday, per Bloomberg's Billionaires Index. Amazon's stock reached its own record high on Wednesday, fueling Bezos' wealth jump. His net worth hit a record high of $228 billion on Wednesday, according to the Bloomberg Billionaires Index. The rally helped the Nasdaq 100, the index on which Amazon is listed, reach a record high. The Tesla CEO's net worth climbed $26.5 billion on Wednesday to reach $290 billion, per Bloomberg.
Persons: Jeff Bezos, , Donald Trump, Bezos, Elon Musk, Bezos —, Trump Organizations: Service, Bloomberg, Nasdaq, Trump, Tesla, Washington Post, SpaceX, NASA
Japan is one stock market outside the U.S. that could win now that Donald Trump is headed back to the White House. Trump has previously proposed tariffs of up to 20% on imports, with a stringent tax of 60% on goods coming from China. Japanese stocks rallied, however, as the yen weakened with some investors expecting the U.S. defense partner stands to gain most from Trump's policies. However, Akutsu warned, with few positive earnings surprises in the market, a year-end rally could be "limited in scope." Takada said investors may have to weigh the near-term benefits of a Trump market against the risks of a possible trade war, even with a rise in the Japanese equity risk premium.
Persons: Donald Trump, Trump, Goldman Sachs, Tony Pasquariello, What's, Pasquariello, America's Masashi Akutsu, Akutsu, Morgan's Masanari Takada, Takada, It's Organizations: Nikkei, Bank, Bank of America, Hitachi, Retailing, Trump Locations: Japan, China, U.S, Europe
Federal Reserve cuts interest rates by a quarter point
  + stars: | 2024-11-07 | by ( Jeff Cox | ) www.cnbc.com   time to read: +4 min
watch nowThe Federal Reserve approved its second consecutive interest rate cut Thursday, moving at a less aggressive pace than before but continuing its efforts to rightsize monetary policy. Among them was an altered view in how it assesses the effort to bring down inflation while supporting the labor market. The statement slightly downgraded the labor market, saying "conditions have generally eased, and the unemployment rate has moved up but remains low." Generally, the labor market has held up well. An acceleration in economic activity under Trump could persuade the Fed to cut rates less, depending on how inflation reacts.
Persons: Michelle Bowman, Jerome Powell, nonfarm, Donald Trump, Trump, Powell, Pace Organizations: Federal Reserve, Federal, Committee, Gross, Atlanta Fed, Trump Locations: Tuesday's
CNN —North Korean troops deployed to Russia’s Kursk region have fought Kyiv’s forces on the battlefield, Ukrainian President Volodymyr Zelensky said Thursday, adding that the clashes resulted in fatalities. Zelensky said 11,000 North Korean soldiers are in the region, where Ukraine’s three-month military incursion into Russian territory has stalled. The New York Times reported earlier this week that a number of North Korean troops had been killed in a limited engagement with Russian and Ukrainian forces, citing senior US and Ukrainian officials. US officials had warned that around 10,000 North Korean troops are in the Kursk region and would be expected to enter combat against Ukraine. But Zelensky fears a greater role for North Korean troops if its allies fail to exert more pressure on Putin.
Persons: Volodymyr Zelensky, Zelensky, ” Zelensky, , Donald Trump, Vladimir Putin, Maxim Shipenkov, Putin, Trump, JD Vance, Jill Dougherty, , they’ve, Dougherty, – Putin Organizations: CNN, North, Russian Federation, New York Times, NATO, Republican, Getty, Trump, CNN Moscow, Georgetown University’s Center, East European Studies, Budapest Thursday, Ukraine, North Korean, Putin Locations: Russia’s Kursk, Ukrainian, Ukraine, Kursk, Budapest, Hungary, United States, Moscow, Pyongyang, Sochi, Black, Kyiv, Russia, , Donbas, Crimea, South Korea
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrump's principle tariff focus will be China — not elsewhere, says political economistLizzy Galbraith, political economist at asset manager Abrdn, discusses President-elect Donald Trump's election win and what it could mean for the political economy.
Persons: Lizzy Galbraith, Abrdn, Donald Trump's Locations: China
Traders work on the floor of the New York Stock Exchange during the morning trading on November 07, 2024 in New York City. U.S. stock futures hovered near the flatline Thursday night after the S&P 500 and Nasdaq Composite hit records in a postelection rally and investors weighed the Federal Reserve's latest interest rate cut. S&P 500 futures and futures tied to the Dow Jones Industrial Average added just 0.03% and 0.05% each. The moves higher continue the market rally from Wednesday in the wake of President-elect Donald Trump's victory, during which the Dow and S&P 500 rose to their best days since November 2022. The postelection surge put all three of the major averages are on pace for strong weekly gains, with the S&P 500 up about 4.3% and the Dow higher by nearly 4%.
Persons: Dow, Donald Trump's, Jerome Powell, Scott Helfstein, Trump Organizations: New York Stock Exchange, Nasdaq, Dow Jones, Dow, Global, Republican, Fed Locations: New York City . U.S, Thursday's
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEurope is seen as a loser of a Trump presidency, Barclays strategist saysEmmanuel Cau, head of European equity strategy at Barclays, discusses the outlook for European stocks following Donald Trump’s historic U.S. election victory.
Persons: Emmanuel Cau, Donald Trump’s Organizations: Trump, Barclays
Market moves: The stock market tacked on some additional gains after the Federal Reserve on Thursday afternoon cut interest rates by 25 basis points. Bond yields, which move inversely to bond prices, have been on the rise since the Fed cut rates in September. Stick to discipline: The stock market especially liked the idea of a pro-business environment and de-regulation expected in the future Trump administration. It's not surprising to see Wells Fargo down 3% after the Club stock surged more than 13% on Wednesday. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .
Persons: Jim Cramer, Thursday's, Jerome Powell, hasn't, Bond, Donald Trump, Trump, industrials, It's, Wells, Mogan Stanley, Morgan Stanley, Bloomin, Jim Cramer's, Jim Organizations: CNBC, Federal Reserve, Fed, Treasury, Bond, NBC News, Club, DraftKings, Arista Networks, Azon Enterprise, Trade, Baxter International, NRG Energy, Jim Cramer's Charitable Locations: Wells Fargo, Wells
President Trump has said he plans to install a blanket tariff of 10% to 20% on all imports, with additional tariffs of 60% to 100% on goods brought in from China. In the September Presidential debate, Trump characterized the plan as a way to extract money from rival nations. Economists, however, tend to agree that such a plan would would have the effect of raising prices on everyday goods. How tariffs workSimply put, a tariff is a tax on imports, though not one paid by the exporting country. Trump has floated the idea that a tariff policy could eventually replace U.S. federal income tax altogether, a convention that the nonpartisan Peterson Institute for International Economics called "literally impossible."
Persons: Donald Trump, Trump, Howard Gleckman Organizations: Republican, Palm Beach Convention, U.S ., Urban, Brookings Tax Policy Center, CNBC, Tax Foundation, Peterson Institute for International Locations: Palm Beach, West Palm Beach , Florida, China, U.S
(CNN) – Margaret Atwood’s “The Handmaid’s Tale,” a novel set in a totalitarian society, has shot to the top of Amazon’s bestselling books list following Donald Trump’s reelection. Former president Trump clinched a victory against Vice President Kamala Harris in Tuesday’s election, securing a second term, non-consecutive after he lost in 2020. “The Handmaid’s Tale” takes place in a theocratic, male-dominated future America where the US Constitution is suspended, media is censored and women (the titular “handmaids”) are forced to bear children for the ruling class. Many have harnessed comparisons to Atwood’s classic in the lead-up to the election, particularly around the topic of reproductive rights. Calm drew attention on social media after airing ads that gave viewers “30 seconds of silence” amid continuous election coverage.
Persons: – Margaret Atwood’s “, , Donald Trump’s, Trump, Kamala Harris, Harris, Roe, Wade, handmaids, Barack Obama, Valerie Jarrett, Joe Biden’s, Hillary Clinton, Atwood, X, It’s, Brett Kavanaugh’s, George Orwell’s “, Ray Bradbury’s, Melania Organizations: CNN, Barnes, Trump, US Supreme, MSNBC, Apple Locations: skyrocketing, Tuesday’s, America
The wealth of the world’s 10 richest people also soared by a record amount, according to Bloomberg’s Billionaire Index. The biggest gainer was Elon Musk, the world’s richest person and one of Trump’s most outspoken and dedicated supporters, whose wealth jumped $26.5 billion to $290 billion Wednesday, according to Bloomberg. Truth Social owner Trump Media & Technology Group, Trump’s social media company, also cashed in with shares skyrocketing in value after CNN and other media outlets projected Trump won. Trump is the dominant shareholder in the conservative social media company, which has scant revenue and is losing money. The president-elect’s 114.75 million shares were worth about $5.3 billion briefly based on those early gains, up from $3.9 billion when trading ended on Election Day.
Persons: Donald Trump, Elon Musk, Jeff Bezos, Kamala Harris, Larry Ellison, Trump, Bill Gates, Steve Ballmer, Larry Page, Sergey Brin, Warren Buffett, , Michael Block Organizations: New, New York CNN, Wednesday, Bloomberg, Amazon, Oracle, Microsoft, Berkshire Hathaway, Democratic, Social, Trump Media & Technology Group, CNN, Trump Locations: New York, Washington
Tens of thousands of Americans are looking into moving abroad after Donald Trump's presidential reelection. In the hours following the presidential race being called for the Republican nominee, nearly 30,000 people and counting visited the website for Expatsi, a travel company that offers scouting trips to help Americans move abroad. 'The exit is real'LaVerne Collins, 65, was visiting Portugal on a scouting trip with Expatsi when she learned of the presidential election results. "As an African American woman, my concerns about government stability and safety is heightened," she tells CNBC Make It. "I recognized that depending on how this election would go, things could become even more unstable."
Persons: Donald Trump's, We're, Jen Barnett, We've, LaVerne Collins, Kamala Harris, Collins, Trump, she's Organizations: Republican, Expatsi, CNBC Locations: Portugal, Greensboro , North Carolina, Costa Rica, African American
CNN —Rory McIlroy thinks that Donald Trump’s return to presidency could help unify the fractured landscape of men’s professional golf by brokering a deal between the PGA Tour and the breakaway Saudi-backed LIV Golf. When asked on Wednesday if Trump could deliver on his own assertion that he could fix the LIV-PGA Tour deal in 15 minutes, McIlroy said: “He might be able to. The US-based circuit and the Saudi Public Investment Fund (PIF), which is behind LIV Golf, remain locked in negotiations, with the initial deadline for the partnership of December 31 last year extended into 2024. When asked about the PGA Tour and LIV on the podcast, recorded Sunday ahead of the election, he added: “I’m really going to work on other things, to be honest with you. “Great news from LIV golf.
Persons: Rory McIlroy, Donald Trump’s, LIV Golf, Trump, McIlroy, He’s, Elon Musk, it’s, he’s, LIV, , ” Trump, Bill Belichick, Jim Gray Organizations: CNN, PGA Tour, HSBC Abu Dhabi Championship, Saudi Public Investment Fund, Trump, PGA, LIV Locations: Saudi, Saudi Arabia, United States
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe U.S. and global market implications of a Trump election victory and second administrationAnna Paglia of State Street Global Advisors and Tina Fordham of Fordham Global Foresight discuss the implications for global businesses and sectors from the election victory by President-elect Trump.
Persons: Anna Paglia, Tina Fordham, Trump Organizations: Trump, Street Global Advisors, Fordham Global Foresight
Donald Trump owns 16 golf courses across three continents, mostly with vibrant social-media presences. AdvertisementAt President-elect Donald Trump's golf courses, his election posed a dilemma: Embrace the connection, or stay quiet? International courses in Dubai and Indonesia also kept quiet, as did the US courses in Los Angeles County and Hudson Valley, New York. But his victory does put a spotlight back on Trump's business empire, where companies could use the connections as a selling point or try to function like a business without a famous owner. Reuters estimated earlier this year that Trump's golf and resort business is the biggest driver of the Trump Organization's cash flow.
Persons: Donald Trump, , Donald Trump's, Trump, Doonbeg Organizations: Trump, Service, Ireland, Trump International, Reuters Locations: Bedminster , New Jersey, Doral , Florida, Scotland, Turnberry, Dubai, Indonesia, Los Angeles County, Hudson Valley , New York
Kamala Harris' advisors said she struggled to dig herself out of a hole. Related Video Can Kamala Harris win over Democrats after Joe Biden drops out of 2024 presidential election? Throughout the 2024 race, Trump posted some of his highest approval numbers since he launched his first presidential run in 2015. AdvertisementEvan Roth Smith, the lead pollster at BluePrint, said there's no doubt that Biden's unpopularity impacted Harris. The Trump campaign didn't forget."
Persons: Kamala Harris, Joe Biden, Harris, , Doug Sosnik, Bill Clinton, Biden, Trump, Obama, David Plouffe, Harris's, Kamala, AWwpZQHhVo — Alex Thompson, Evan Roth Smith, Kamala Harris's, Roth Smith, would've, Rishi Sunak, George H.W, Bush, Ryan Ryan Williams, Mitt Romney's Organizations: Service, Democratic, CNN, Biden, British, Conservative Party, Democratic Party, New, Trump, GOP, Voters Locations: United States, South Korea, Germany, Iowa, New Hampshire
CNN —Germany’s governing coalition has collapsed after disagreements over the country’s weak economy led Chancellor Olaf Scholz to sack his finance minister. The coalition has been at loggerheads over how to revive Germany’s economy. What problems is Germany’s economy facing? Germany’s economy, Europe’s largest, shrank last year for the first time since the onset of the Covid-19 pandemic. Party leader Alice Weidel has already hailed the coalition’s collapse as a “liberation” for Germany.
Persons: Chancellor Olaf Scholz, Christian Lindner’s, Scholz, Donald Trump, Europe’s, Angela Merkel, Gerhard Schröder, Merkel, Christian Lindner, Christoph Soeder, Friedrich Merz, Lindner, Liesa Johannssen, “ Lindner, ” Lindner, , Carsten Brzeski, , Robert Habeck, Annegret Hilse, Merz, Alice Weidel, ” Weidel Organizations: CNN, Free Democrats Party, Scholz’s Social Democratic Party, SPD, Green Party, CDU, Trump, Social Democratic Party, Greens, ING, Volkswagen, CDU –, Christian Democratic Union, Party Locations: Germany, Germany’s, Nazi, Thuringia, France, Italy, Ukraine, China,
Long-term capital gains rates apply to assets owned for more than one year. Higher capital gains tax rates, however, are "entirely off the table," under a Trump presidency and Republican-controlled Congress, said Erica York, senior economist and research manager with the Tax Foundation's Center for Federal Tax Policy. Even with partial Republican control, "it's most likely that capital gains tax policy just stays put where it is," York explained. For 2024, investors pay long-term capital gains rates of 0%, 15% or 20%, depending on taxable income. Combined with long-term capital gains taxes, higher earners currently pay up to 23.8% on investments.
Persons: Donald Trump, Jim Watson, Donald Trump's, Kamala Harris, Harris, Joe Biden's, Erica York, York, Howard Gleckman Organizations: U.S, Republican, Afp, Getty, Trump, Tax, Center, Federal Tax Policy, Republicans, Representatives, White, Urban, Brookings Tax Locations: Palm Beach
Those hushed discussions have now morphed into an all-out battle that is playing out directly from the patio of Trump’s Mar-a-Lago Club in Palm Beach, Florida. And one of the biggest battles that emerged – over chief of staff – has since been resolved. Trump on Thursday named his campaign manager Susie Wiles to the role, touting her as the first woman to hold it. But that contest had previously boiled down to two names: Wiles and Brooke Rollins, who served in Trump’s first term and runs the America First Policy Institute. Occasionally over the past few months, Trump floated names as possible administration picks, but he would not engage further.
Persons: Donald Trump, Robert F, Kennedy Jr, Donald Trump Jr, Tulsi Gabbard, Tom Barrack, Howard Lutnick, Linda McMahon, Trump, Elise Stefanik, , Susie Wiles, Wiles, Brooke Rollins, Rollins, Priebus, it’s, he’s, Steve Contorno, Kaanita Iyer, Kristen Holmes, Jeremy Herb, Kayla Tausche, Evan Perez Organizations: CNN, Trump, Lago, Lutnick, New York Republican, GOP, United Nations, Policy Institute Locations: Trump’s, Palm Beach , Florida, Florida, Trump
Donald Trump's election win boosted tech stocks the next day, with Tesla leading the gains. Trump's past policies reshaped tech; his second term may impact Big Tech similarly. So what has the stock market told us so far about which Big Tech companies might be winners and losers during a Trump second term? Google gainsGoogle is somewhat surprising as a big stock gainer in the past two trading days. 'Shock absorber for the consumer'Slowinski highlighted other Big Tech stocks this week in his note to investors.
Persons: Donald Trump's, Tesla, , Donald Trump, Trump, Tim Cook, Ben Thompson, TSMC, Elon Musk, Elon, Ana Altchek, Stefan Slowinski, Mark Zuckerberg, Slowinski, Thompson, Slowinsky Organizations: Big Tech, Service, Trump, Apple, Google, Alphabet, BNP, Trump's, Democratic, Meta, Amazon, Microsoft Locations: China, Taiwan, Stratechery, North America
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRepublican sweep is good for markets, says Fenway Summer Ventures' Javier SaadeJavier Saade, a venture partner at Fenway Summer Ventures, discusses the impact of the U.S. presidential election on markets.
Persons: Javier Saade Javier Saade Organizations: Fenway, Ventures, Fenway Summer Ventures, U.S
Following Donald Trump's Presidential election win, 30-year fixed mortgage rates briefly surged, settling at 6.98% as of Thursday, according to Mortgage News Daily . Recent interest rate cuts have brought relief to credit card, personal loan and auto borrowers, but homebuyers are unlikely to catch a break as mortgage rates continue to climb. While mortgage rates often move in step with the Fed's benchmark rate, they're more directly tied to 10-year Treasury bond yields. These yields tend to rise when investors expect stronger economic growth and higher inflation — even when the Federal Reserve is cutting the federal funds rate. Either way, "continued deficit spending, coupled with discussions of additional tariffs on imports, is likely to keep [mortgage] rates elevated through the remainder of 2024," says Nourmand.
Persons: Donald Trump's, Melissa Cohn, William Raveis, Harris, Michael Nourmand, Organizations: Reserve, Mortgage News, Federal Reserve, William Raveis Mortgage, Trump, Associates, CNBC Locations: New York, Los Angeles
Peter Thiel made a "contrarian" prediction that the election wouldn't be close. Thiel has a history of making contrarian bets in his investments and business ventures. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementIn September, conservative tech billionaire Peter Thiel made what he acknowledged was an unusual prediction about the 2024 election. My one contrarian view on the election is that it's not going to be close," Thiel said in September at an appearance at the All In Summit in Los Angeles.
Persons: Peter Thiel, Thiel, , it's, aren't, Kamala Harris, Donald Trump, Kamala, Trump, Sen, JD Vance, Blake Masters — Thiel, Elon Musk Organizations: Trump, Service, PayPal, Trump voters, Democratic, Republican Locations: Los Angeles, Ohio, Trump
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