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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
Nancy Pelosi is all about winning. And the former speaker is in no mood to start losing now, as evidence mounts that President Biden is staring at a major defeat that could drag his party down with him. And his loss, she fears, could cost her party its chance to win back the House, potentially its only firewall against a second Donald J. Trump presidency. Ms. Pelosi, according to those who have talked with her, conveyed those sentiments in phone calls with the president and with alarmed colleagues who have reached out to her for guidance on what to do. The former speaker is intimately familiar with the minutiae of campaigns from her years following House races district by district, and she has been marshaling her knowledge of the political map, polling data and fund-raising information to press her case with Mr. Biden.
Persons: Nancy Pelosi, Biden, Mr, Pelosi, Biden’s, Donald J, Ms Organizations: Democratic, Trump
Here's a rapid-fire update on all 34 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Costco : While Costco gets nearly 7% of its sales from China, Jim said it's unlikely its business would be threatened by geopolitics given the company's popularity in the country. Constellation Brands : There's no doubt that the Modelo and Corona parent is a less attractive stock under Trump compared with Biden. 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, Jim, Donald Trump, Abbott's, Reckitt Benckiser, we're, there's, it's, Biden, Dupont, Trump, Walt Disney, Nelson Peltz, Jim said, Estee Lauder, Eaton, Honeywell's, Washington that's, Eli Lilly, Roche, Eli Lilly's, Lilly, Sen, J.D, Vance of, Morgan Stanley, ChatGPT, chipmaker, Laxman Narasimhan, Stanley Black, Decker, rightsizing, Wells, Wynn, he's, Jim Cramer, Brendan McDermid Organizations: Jim Cramer's Charitable Trust, CNBC, Trump, Abbott Laboratories, AMD, Broadcom, VMWare, Costco, Coterra Energy, White, Bloomberg, Federal, Motors, Ford, GE Healthcare, Big Tech, Honeywell, Air Products, Linde, Meta, Microsoft, Investors, OpenAI, Republican, Palo Alto Networks, Palo, Procter & Gamble, Biden, Constellation Brands, Modelo, The, TJX, Wynn Resorts, Club, Jim Cramer's Charitable, Traders, New York Stock Exchange Locations: China, Dover, U.S, Washington, Vance of Ohio, Meta, Taiwan, Israel, Gaza, Corona, Wells Fargo, Macau, New York City
Rep. Adam Schiff calls on Biden to drop out of the race
  + stars: | 2024-07-17 | by ( Manu Raju | ) edition.cnn.com   time to read: +3 min
CNN —Rep. Adam Schiff on Wednesday became the most prominent elected Democrat to publicly call on President Joe Biden to drop out of the race. The announcement by Schiff, who is running for US Senate in California, makes him the first Democrat to urge Biden to step aside since the failed assassination attempt on former President Donald Trump over the weekend. Rep. Adam Schiff, D-Calif., speaks during the House Judiciary Committee hearing on the Report of Special Counsel John Durham, on Capitol Hill in Washington, Wednesday, June 21, 2023. And in doing so, secure his legacy of leadership by allowing us to defeat Donald Trump in the upcoming election,” Schiff said in a statement. The Democratic Party remains roiled about the path forward amid fears that, in light of the debate, Biden cannot defeat Trump and he risks taking down-ballot Democrats with him in November.
Persons: Adam Schiff, Joe Biden, Schiff, Biden, Donald Trump, Nancy Pelosi, John Durham, Jose Luis Magana, Biden’s, ” Schiff, , Trump, , Nanette Barragan, CNN’s Owen Dahlkamp, Priscilla Alvarez, Annie Grayer Organizations: CNN —, Wednesday, US, Capitol, California Democrat, CNN, Democratic, Congressional, Democratic Party, Trump, Democratic National Committee Locations: California, Washington, Chicago
Rep. Adam Schiff (D-CA) appears on "Meet the Press" in Washington D.C., Sunday July 7, 2024. William Plowman | Nbcuniversal | Getty ImagesCalifornia Democratic Rep. Adam Schiff on Wednesday urged President Joe Biden to exit the 2024 presidential election contest. Schiff in a statement said that he had "serious concerns about whether the President can defeat Donald Trump in November." A source familiar with Pelosi told CNBC on Wednesday that Schiff's statement was "news to her" and that he "did not consult her before." Politico on Tuesday reported that Pelosi has offered to talk to members of Congress who wanted to discuss their concerns about having Biden as the Democratic nominee.
Persons: Adam Schiff, William Plowman, Nbcuniversal, Joe Biden, Schiff, Donald Trump, Biden's, Nancy Pelosi, Pelosi, Biden, Trump Organizations: Washington D.C, Getty Images, Getty Images California Democratic, Democratic, U.S, Senate, California Democrat, CNBC, NBC News, Politico, New York Times, Biden, Trump, Republican Locations: Washington, Getty Images California, California, Long Island , New York
Welcome to Opinion’s commentary for Night 2 of the Republican National Convention. In this special feature, Times Opinion writers rate the evening on a scale of 0 to 10: 0 means the night was a disaster for Donald Trump; 10 means it could lead to a big polling bump. Here’s what our columnists and contributors thought of the event, which included speeches from Nikki Haley, Vivek Ramaswamy and Elise Stefanik. Best MomentKristen Soltis Anderson, contributing Opinion writer I’d be remiss not to mention Gov. But she rewrote it, and what she delivered made a positive, personal case for Donald Trump.
Persons: Donald Trump, Nikki Haley, Vivek Ramaswamy, Elise Stefanik, Kristen Soltis Anderson, I’d, Jim Justice’s, Lara Trump’s, Trump Organizations: Republican National Convention, Gov
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEurope caught between 'a rock and a hard place' in U.S.-China relations, CIO saysFabiana Fedeli, equities, multi-asset and sustainability CIO for at M&G Investments, discusses potential U.S. and EU tariffs on China and how a Trump presidency might affect investments.
Persons: Fabiana, Trump Organizations: G Investments Locations: U.S, China
Dollar drifts as Powell comments bring September rate cut in focus
  + stars: | 2024-07-16 | by ( ) www.cnbc.com   time to read: +3 min
The dollar fell slightly on Monday after comments from Federal Reserve Chair Jerome Powell, while cryptocurrencies rose on bets that an assassination attempt on former President Donald Trump lifted his reelection chances. The dollar hung around five-week lows on Tuesday as comments from Federal Reserve Chair Jerome Powell bolstered the case for a rate cut in September, while cryptocurrencies gained on rising odds of former President Donald Trump getting reelected. The comments, likely Powell's last until his press conference following the Fed's July 30-31 meeting, shifted rate cut expectations. Markets are now anticipating 68 basis points of easing this year, with a rate cut in September fully priced in, CME FedWatch tool showed. "Markets may need to wait longer for the confirmation of their September rate cut hopes, and growth and labor data will be on the radar such as retail sales today."
Persons: Jerome Powell, Donald Trump, cryptocurrencies, Powell, We've, Charu Chanana, Trump, Gary Gensler, Chris Weston Organizations: Federal, Economic, of Washington, Saxo, Traders, Bank of Japan, Republican, cryptocurrency, San, SEC, New Zealand Locations: Tokyo, San Francisco
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrump presidency tariffs could be a 'major downside growth risk' for China, says Goldman SachsHui Shan, chief China economist of Goldman Sachs, says the implications for the macroeconomy are significant if Donald Trump wins the U.S. presidential election and imposes a 60% tariff on Chinese imports.
Persons: Goldman Sachs Hui Shan, Goldman Sachs, Donald Trump Organizations: Email, U.S Locations: China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed Chair Powell is 'clearly getting worried' over rate cuts, says NFJ Investment’s John MowreyJohn Mowrey, NFJ Investment Group CIO and senior portfolio manager, joins 'Squawk Box' to discuss the latest market trends, implications of a second Trump presidency, the Fed's inflation fight, and more.
Persons: Powell, NFJ Investment’s John Mowrey John Mowrey Organizations: NFJ Investment, Trump
CNN —Many of America’s closest allies were already dreading the prospect of Donald Trump’s return to the White House. Now that the former president has picked JD Vance as his running mate, they potentially have a lot more to worry about. By choosing Vance, Trump has sent a clear signal that, if elected, his America-first foreign policy will be back in force. “JD Vance does not appear to be interested in being a good ally to Europe,” Berzina said. I think Russia has incentive to come to the table right now.
Persons: America’s, Donald Trump’s, JD Vance, Vance, Trump, , Kristine Berzina, “ JD Vance, ” Berzina, Putin, Vance’s, , Sergey Lavrov, Lavrov, Volodymyr Zelensky, CNN’s Kaitlin Collins, Zelensky, Jose Luis Magana, China Vance, we’re, ” Vance, Trevor McCrisken, you’ve, Ukraine that’s, ” McCrisken, ” Sam Greene, Biden, Greene, Joe Biden, ” Greene, , Nikki Haley Organizations: CNN, Trump, NATO, Labour, Marshall Fund of, United, Munich, Conference, United Nations, Conservative Political, East, Fox News, New York Times, Patriot, University of Warwick, Republicans, Democratic, Center for, King’s College London, Republican, Republican Party Locations: America, Ohio, Ukraine, Russia, United Kingdom, United States, Washington, Europe, Russian, Munich, Oxon Hill, China, East Asia, Beijing, Taiwan, Asia, Czech, UN
Defense has historically outperformed when there's been a single party in control across Congress and the executive branch — in particular, the Republican Party, according to Wells Fargo analyst Matthew Akers. However, Akers believes the defense sector may not benefit if there's a Republican sweep this election cycle. Another two years of low growth for both defense and non-defense looks likely to us," Akers wrote in a Tuesday note. The firm said a Trump presidency is positive for the defense sector. The firm cited the Republican Party's platform, which highlights a "strong military," restoring peace and "made in America" defense systems.
Persons: there's, Wells, Matthew Akers, Donald Trump, Joe Biden, Akers, Trump, TD Cowen Organizations: GOP, Defense, Republican Party, Democrat, Republican, NATO, Ukraine, Caucus, China, Boeing, " Aircraft, Akers, U.S . Aerospace & Defense ETF, ITA Locations: Wells Fargo, U.S, China, America
Tragedy strikes and traders (or trading algorithms) sniff out a way to make money off of it. Stocks also went on a tear as Covid-19 killed millions and gutted economies across the globe. “The market’s up today, but the market’s up every day,” Steve Sosnick, chief strategist at Interactive Brokers, tells me. Whether or not the political bump lasts, some traders did seize on the moment to double down on so-called Trump trades. In short, when the yield curve gets steeper, that’s a sign bond traders are nervous.
Persons: CNN Business ’, Stocks, it’s, Steve Sosnick, Sosnick, , , Trump, Reagan, Coinbase, Elon Musk, Sturm Ruger, he’s, Joe Biden —, ” Sosnick, they’re Organizations: CNN Business, New York CNN — Financial, Dow, Interactive, Trump, White, Macquarie, Trump Media, Smith, Wesson, Democratic, Treasury Locations: New York
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailA second Trump term is likely to be more inflationary, strategist saysMichael Metcalfe, head of macro strategy at State Street Global Markets, weighs in on the impact of a possible second Trump presidency for inflation.
Persons: Michael Metcalfe Organizations: Trump, Street Global
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrump presidency with JD Vance as running mate would mean much more aggressive China stance: AnalystEdward Mills, Washington policy analyst and managing director at Raymond James, says Sen. JD Vance is someone who has "very much embraced the 'make America great again' agenda of former President Trump."
Persons: JD Vance, Edward Mills, Raymond James, Sen, Trump Organizations: Email Trump Locations: China, Washington
Trump 2.0 could be bad news for global inflation, analysts say
  + stars: | 2024-07-16 | by ( ) www.cnbc.com   time to read: +3 min
Brendan Smialowski | Afp | Getty ImagesA second presidential term for former President Donald Trump could reignite global inflation as his America-first policies drive up costs across the world, analysts warned. "The level of inflation is higher, inflation expectations are higher, and we're still in this inflation mindset." A recent poll of economists suggested, however, that the majority see inflation ticking higher under Trump due to his hard-line protectionist stance. watch nowThat higher inflation could spill over into Asia, too, Nomura's Gareth Nicholson said in a note to CNBC. In Europe, Goldman Sachs predicted in a Friday note that a Trump presidency could add a 0.1 percentage point increase to inflation as higher tariffs weigh on global trade.
Persons: Donald Trump, Brendan Smialowski, Michael Metcalfe, CNBC's, we're, Joe Biden, Trump, Nomura's Gareth Nicholson, Goldman Sachs, Manulife's Marc Franklin Organizations: Republican, Convention, Afp, Getty, Street Global Markets, Trump, Biden, CNBC, Republican National Convention Locations: Milwaukee , Wisconsin, America, U.S, Asia, Europe, China, Milwaukee, Pennsylvania
Gaelen Morse | ReutersRepublican presidential nominee Donald Trump's pick of Sen. JD Vance as his vice presidential running mate will have sent chills down spines in Kyiv Tuesday morning. Ash has previously questioned Vance's position on Ukraine and the suggestion that Europe should bear the responsibility of helping Ukraine to defend itself against Russia. Trump has always appeared ambivalent over the war in Ukraine and continuing aid. The comment was an ominous one for Ukraine, however, suggesting Trump could be tempted to pull the rug on further aid. "Donald Trump would mean a big break with a couple of NATO policies, in particular on the question of Ukraine and support to Ukraine.
Persons: JD Vance, Donald Trump, Gaelen Morse, Donald Trump's, Sen, Ohio Republican Vance, Volodymyr Zelenskyy's, Trump, Vance, Ukraine —, Vladimir Putin, Europe hasn't, Timothy Ash, Ash, Vance et, Volodymyr Zelensky, Mitch McConnell, Charles Schumer, Drew Angerer, Zelenskyy, Russia's Putin, Mikhail Klimentyev, Reuters Keen, ringfence, Guntram Wolff, Wolff, Putin Organizations: Republican, U.S, Reuters Republican, Kyiv Tuesday, Ohio Republican, Marines, Kyiv —, NBC News, Financial Times, NATO, BlueBay Asset Management, Russia, Capitol, Republicans, National Governors Association, Trump, Sputnik, Reuters, CNBC Locations: Youngstown , Ohio, Kyiv, Ukraine, U.S, Russia, Europe, Russian, United States, America, Washington ,, Utah, Osaka, Japan, Washington, Trump
"After this weekend, it sure seems like the Trump stocks are back," he said. "Just keep in mind that plenty of companies are great enough to transcend politics, and sometimes what counts as a Trump stock can change on a dime." Trump will likely be more lenient when it comes to mergers and acquisitions than Biden, according to Cramer. According to Cramer, investors may want to avoid stocks related to saving the environment, as Trump doesn't believe in those measures. "Eight years ago, in a moment gripped by political fever, I put a button on my sound board that said 'trump stock, trump stock,' he said.
Persons: CNBC's Jim Cramer, Donald Trump, Cramer, Trump, Joe Biden, Goldman Sachs, Morgan Stanley, Biden, Monday's Organizations: Trump, Republican, Biden, Bank of America, Albertsons, New York Times
If enacted, Project 2025 would bring major changes to Americans' finances. "As we've been saying for more than two years now, Project 2025 does not speak for any candidate or campaign," a spokesperson from Project 2025 said in a statement. "We are a coalition of more than 110 conservative groups advocating policy and personnel recommendations for the next conservative president." "But it is ultimately up to that president, who we believe will be President Trump, to decide which recommendations to implement," the organization said. While some of the changes proposed in Project 2025 could happen via executive action, many would need congressional approval, which could prove difficult in a divided government.
Persons: Donald Trump, Trump, Joe Biden, Biden, Zers, we've Organizations: Heritage Foundation, Trump, Finance, America Locations: Philadelphia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEU Chamber of Commerce in China discusses what a Trump presidency would mean for EU-China tiesJens Eskelund, president of the European Union Chamber of Commerce in China, says a Trump presidency could mean a "broader application of tariffs" not just on China but also on trade partners with whom the United States has a trade deficit, such as Europe.
Persons: Trump, Jens Eskelund Organizations: EU, of Commerce, European Union Chamber of Commerce Locations: China, United States, Europe
Bitcoin hit a two-week high Monday, as betting markets suggested an increased chance of victory for crypto-friendly candidate Donald Trump in the U.S. presidential election. The value of the world's biggest cryptocurrency, bitcoin, was up around 5% at 1:40 p.m. London time, to $62,781.48, according to CoinGecko. The rally follows the dramatic failed assassination attempt on former President Trump on Saturday. Investors said over the weekend they expected so-called "Trump victory trades" to receive a boost. The Trump campaign began accepting donations from the crypto industry in May and his messaging has become increasingly positive on the future of such digital assets.
Persons: Bitcoin, Donald Trump, Trump, Reagan, Ben Emons, Trump's favorability, Zach Pandl, Sen, Elizabeth Warren Organizations: U.S, FedWatch Advisors, Investors, Trump, CNBC, Republican Locations: London
Implications of a Trump presidency
  + stars: | 2024-07-15 | 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 EmailImplications of a Trump presidencyDavid Roche, strategist at Quantum Strategy, discusses the implications of a Donald Trump presidency following the attempted assassination of the former president.
Persons: Trump, David Roche, Donald Trump Organizations: Quantum
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrump shooting showed the strength of American institutions despite the incident, says Kurt VolkerKurt Volker, Center for European Policy Analysis distinguished fellow and former U.S. Ambassador to NATO, joins 'Squawk Box' to discuss the response by foreign leaders to the assassination attempt of former President Trump, what it means for the 2024 election, potential implications of a Trump presidency, and more.
Persons: Kurt Volker Kurt Volker, Trump Organizations: Trump, Center for, U.S, NATO
Former US President Donald Trump during a campaign event at Trump National Doral Golf Club in Miami, Florida, US, on Tuesday, July 9, 2024. "Trump's re-election would thus pose a significant downside risk to our otherwise constructive growth forecast for the Euro area." Trade policy uncertainty, added defense and security pressures and spillover effects from U.S. domestic policies on, for example, taxes could impact Europe, they explained. Trade tensionsTrump's trade policy, and the uncertainty around it, could be one factor that impacts Europe's economy, just as it did during his last presidency, analysts Stehn and Moberly said. In 2018 and 2019, uncertainty about trade policy reduced industrial production in the euro area by around 2%, they estimated.
Persons: Donald Trump, Eva Marie Uzcategui, Goldman Sachs, Jari Stehn, James Moberly, Trump's, Trump, Joe Biden, Moberly Organizations: Trump National Doral Golf Club, Bloomberg, Getty, White, Trump, European Union, EU, . Defense, NATO, U.S, Stehn Locations: Miami , Florida, Europe, Pennsylvania, U.S, Germany, Stehn, Moberly, Ukraine
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe banks are a buy here on the weakness from Friday, says Hightower's Stephanie LinkStephanie Link, Hightower Advisors chief investment strategist and portfolio manager, joins 'Squawk Box' to discuss the latest market trends, what a Trump presidency would mean for markets, what to expect from earnings season this week, and more.
Persons: Stephanie Link Stephanie Link, Hightower, Trump Organizations: Hightower Advisors
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