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Analyst David George downgraded the stock to underperform from neutral. He believes that JPMorgan is over-earning on both net interest income and credit and finds the stock expensive at current trading levels. "We know we are fighting the tape here, but believe it makes sense to sell the stock." JPM YTD mountain JPM, year-to-date George also noted that, even with a potentially more friendly regulatory environment under a second Trump administration, JPMorgan Chase may not grow its buyback program from here. LSEG data shows 15 of the 24 analysts covering the stock have a buy or strong buy rating.
Persons: Baird, David George, George, Trump, JPMorgan Chase, buybacks Organizations: JPMorgan Chase, JPMorgan
The year-end stock rally has begun, Goldman Sachs says
  + stars: | 2024-11-07 | by ( Fred Imbert | ) www.cnbc.com   time to read: +2 min
Wednesday's massive rally may be just the start of a huge year-end rally. Goldman Sachs tactical specialist Scott Rubner thinks those gains won't stop anytime soon. "The year-end rally starts today and may be higher than investors were expecting," he said Wednesday. Goldman data shows buybacks are already up 15% in 2024 from the last year, at more than $1.05 trillion. "We know we are fighting the tape here, but believe it makes sense to sell the stock."
Persons: Donald Trump's, Kamala Harris, ChatGPT, Goldman Sachs, Scott Rubner, Rubner, Goldman, Baird Organizations: Dow Jones, Nasdaq, Goldman, JPMorgan Chase
The Pre-Market Rundown: November 07, 2024
  + 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 EmailNews Update – Pre-MarketsCNBC brings you fast, accurate, and actionable business news and market updates.
Organizations: CNBC
The Pre-Market Rundown 2: November 07, 2024
  + 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 EmailThe Pre-Market Rundown 2CNBC brings you fast, accurate, and actionable business news and market updates.
Organizations: CNBC
Attorney General Merrick Garland speaks at the Justice Department on Sept. 27. Chip Somodevilla / Getty ImagesHow Trump’s legal jeopardy has unfolded over the past year, in terms of both the criminal charges and his sweeping election victory, is unprecedented. The immediate goal of Trump’s legal team is to get that postponed indefinitely or otherwise dismissed. The Georgia election interference case against Trump remains tied up on appeals over ethical issues surrounding the district attorney. “The American people have re-elected President Trump with an overwhelming mandate to Make America Great Again," Trump Campaign Spokesman Steven Chung said in a statement.
Persons: Donald Trump, can’t, Jack Smith, Trump, , , , Chuck Rosenberg, General Merrick Garland, Chip Somodevilla, Smith, Trump’s, Steven Chung, , , Richard Nixon, Joyce Vance, he’s, Lester Holt Organizations: NBC, Trump, DOJ, Justice, Justice Department, Washington , D.C, Justice Department’s, FBI Locations: Washington, York, Georgia, Washington ,, United States, U.S
Arizona voters approved a controversial ballot measure that will give state and local law enforcement greater authority to enforce immigration-related laws typically left to the federal government, NBC News projects. The lengthy ballot measure makes a number of changes to state law related to immigration. The measure also requires a court to kick out migrants convicted of illegal entry, allowing state and local law enforcement to deliver them to federal custody. While the ballot measure’s supporters have long argued for the need to make immigration law stricter, Republicans also hoped that the measure could help boost GOP turnout. And Arizona’s controversial attempt to enact stricter immigration laws in 2010 was partially blocked by the Supreme Court in part because the court found that federal immigration law pre-empted much of the legislation.
Persons: Katie Hobbs, Kari Lake, Ruben Gallego Organizations: NBC, Democratic White House, Arizona’s GOP, Democratic Gov, Senate, Democratic Rep, Republicans Locations: Arizona, America, Arizona’s, Texas
To lower housing costs, Trump has said he would allow homes to be built on federally protected land, something that could help increase the supply of homes in places like Nevada and Arizona. TaxesTrump has proposed a number of tax cuts, including a complete elimination of the federal income tax. Those cuts lowered the corporate tax rate to 21% from 35%, reduced individual income tax rates, and increased the standard deduction. That could create havoc for workers and consumers and reduce the amount of income taxes the federal government brings in. About 40% of Social Security recipients pay federal income taxes, typically because they have other sources of income that raise them above a certain threshold where they are required to pay income tax, according to the Social Security Administration.
Persons: Donald Trump, Trump, , ” Trump, , Decker, Matt Priest, , Priest, It’s, He’s, hasn’t, Immigration Trump, Jim Tobin, Trump’s Organizations: Trump, Chicago Economic, Companies, National Bureau of Economic Research, Footwear Distributors, Retailers, U.S, Federal Reserve, Immigration, Business, Pew Research Center, NBC News, National Association of Home Builders, NBC, University of New, University of Pennsylvania, Social Security, Social, Social Security Administration Locations: U.S, China, Nevada, Arizona, Alaska, Saudi Arabia, Russia, University of New Hampshire
Los Angeles County District Attorney George Gascón, who ascended to office vowing sweeping reforms to the criminal justice system and then faced intense criticism over public safety issues, lost his bid for re-election, The Associated Press projected. In office, Gascón quickly got to work implementing his reformist agenda. San Francisco District Attorney Chesa Boudin was recalled from office in 2022 after his critics assailed him as a soft-on-crime progressive. He then was the assistant attorney general for the U.S. Justice Department’s tax division under former President George W. Bush. Gascón, 70, previously was San Francisco attorney general — a job once held by Vice President Kamala Harris before she won the state attorney general’s office.
Persons: George Gascón, Gascón, Nathan Hochman, Erik, Lyle Menendez, George Floyd, Jeff Gritchen, Chesa Boudin, Hochman, , ” Hochman, people’s, , ” Gascón, George W, Bush, Kamala Harris Organizations: Angeles, Associated Press, Netflix, MediaNews, Getty, California . San, Hochman, Republican, Central, Central District of, U.S . Justice Locations: Angeles County, Minneapolis, Boston, Chicago, Philadelphia, Buena Park, Calif, California, California . San Francisco, Angeles, County, Gascón, U.S, Central District, Central District of California, Francisco, Los Angeles, Mesa , Arizona, San Francisco
Here, Feinberg shares the biggest mistakes he often sees people make with their health coverage during open enrollment, and how to avoid them. Waiting until the last minuteThe worst thing you can do during open enrollment season is procrastinate on researching your options, Feinberg says. Your open enrollment period will depend on where you get your health coverage. Instead, it's important to think through your specific health needs and the needs of any dependents or partners on your plan. Paired with a health savings account, or HSA, the option can provide some of the most flexibility in health insurance coverage, he adds.
Persons: they've, David Feinberg, Feinberg, that's, That's Organizations: Justworks, Medicare Locations: millennials, Justworks, Jan, New York City
Kristina Royce, a divorce attorney, says marriage should be treated like a business transaction. I've been a matrimonial lawyer for 23 years, representing high-net-worth individuals, including celebrities and entrepreneurs, who are navigating marriage or divorce. I help my clients navigate this process as smoothly as possible during the divorce, but their most impactful divorce decisions were made before they even got married. AdvertisementBefore marriage: create financial intimacyI believe a successful marriage requires three types of intimacy: sexual, emotional, and financial. Speaking to a divorce lawyer can help break down the communication barrier and ensure each person is educated about their rights and what they own.
Persons: Kristina Royce, Royce, , It's, I've, doesn't, Tess Martinelli Organizations: Service Locations: Los Angeles, tmartinelli
Among participants who experienced excessive daytime sleepiness and a lack of enthusiasm, 35.5% developed motoric cognitive risk syndrome compared with 6.7% of people without those problems, according to the study published Wednesday in the journal Neurology. “Establishing the relationship between sleep dysfunction and MCR risk is important because early intervention may offer the best hope for preventing dementia,” the authors said. Over a follow-up period of roughly three years on average, 36 participants developed motoric cognitive risk syndrome. But when the authors considered the seven sleep components separately, only daytime dysfunction was associated with 3.3 times higher risk of MCR. Spires-Jones pointed out that for the potential link between daytime dysfunction and MCR, reverse causation is also possible.
Persons: , Dr, Victoire Leroy, Leroy, Richard Isaacson, Richardson wasn’t, Tara Spires, Jones, wasn’t, Isaacson, ” Leroy, , neurotoxins, Lewy, you’re, Organizations: CNN, Tours University Hospital, New, Central Control, Mobility, Centre, Discovery Brain Sciences, University of Edinburgh Locations: France, Westchester County, Pittsburgh, Florida, Scotland, MCR
Here are five phrases emotionally intelligent parents use when navigating difficult talks with their children. 'I have something important to talk to you about'Giving kids a warning before difficult conversations can help their nervous systems pre-regulate. If you can name your own emotions and demonstrate healthy coping skills, you can validate kids' feelings and work together to learn, practice, and use healthy coping strategies as a family. Using words like "let's" and "we" can help kids feel a sense of unity. Help kids know who else is in their support circle.
Persons: you've, Jessica Correnti, It's, they're, They're, they'll
Nearly all the world’s countries pledged to strive to keep global warming under 1.5 degrees Celsius in the Paris Agreement, which scientists said would prevent cascading and worsening impacts such as droughts, heat waves and catastrophic sea level rise. Data released Wednesday by Europe’s Copernicus Climate Change Service shows 2024 is “virtually certain” to shoot above that threshold. “We don’t have time to stop,” Alex Scott, a climate diplomacy strategist at international think tank ECCO said Wednesday. It would be a more “serious” and “dramatic” step, said Alden Meyer, senior associate at climate think tank E3G and a longtime international climate expert. With Trump’s reelection, global climate negotiations are facing another whiplash moment as Americans seesaw between presidential extremes, said Meyer.
Persons: Europe’s Copernicus, Donald Trump, ” Alex Scott, Trump, ” Scott, Apu Gomes, Alden Meyer, Meyer, , ” Meyer, Copernicus Organizations: CNN, America, Service, Trump, United Nations, European Union, Milton Locations: Paris, San Bernardino, California, China, Florida, Spain, Fuji, Japan
Tecoluca, El Salvador CNN —Sunlight pours into the cavernous building. Opened less than two years ago, it is already an iconic feature of the “new El Salvador” of President Nayib Bukele. The cells are meticulously clean — an intentional and stark contrast to the dingy and squalid prisons of El Salvador’s past. He even created his own clique, “Crazy Criminals,” now tattooed across his back, after he returned to El Salvador. Critics inside and outside El Salvador question the veracity of the government’s crime data and claimed success over the gangs.
Persons: El Salvador ”, Nayib Bukele, , Cecot, Belarmino, Gustavo Villatoro, , El Salvador —, , Marvin Vásquez, he’s, , Vásquez, ” Vásquez, “ Rob, it’s, “ It’s, García, Bukele, ” Bukele, , Juan Carlos Sánchez, Belarmino García, David Culver, Evelio Contreras, Cecot’s García, El, Salvador Molinas, Molina, we’ve Organizations: El Salvador CNN, El, CNN, Central American, Barrio, Law Foundation, Bukele Locations: El Salvador, El Salvador’s, El, Los Angeles, Cecot, America, San Salvador
Tesla stock surged 12% in premarket trading following Trump's election victory. Musk's big bet on Trump has boosted analysts' confidence in Tesla's future prospects. AdvertisementElon Musk's big bet on Donald Trump is already paying off for Tesla. AdvertisementIn his victory speech early Wednesday, Trump paid tribute to Musk's efforts, calling him a "super genius" and a "new star." Trump win an 'overall negative' for EV industryDespite the surge in Tesla shares, Trump's victory could be bad news for the wider EV market.
Persons: Elon Musk, , Elon, Donald Trump, Dan Ives, Musk, Gene Munster, Munster, Trump, Tesla's robotaxis Garrett Nelson, Ives, Nelson, Tesla, BYD Organizations: Trump, Service, Fox News, CNN, Electoral, Wedbush Securities, Tesla, Deepwater Asset Management, EV company's, Tesla's, CFRA Research, EV, Business Locations: Tesla, Butler , Pennsylvania, China
Donald Trump's election victory on Wednesday sparked a palpable sense of dismay among the climate community, with two key architects of the landmark Paris Agreement warning that the result will stall global efforts to protect the environment. The 78-year-old, who has called the climate crisis "one of the great scams," has pledged to ramp-up fossil fuel production, pare back outgoing President Joe Biden's emissions-limiting regulations and pull the country out of the Paris climate accord — again. The 2015 Paris Agreement is a critically important framework designed to reduce planet-heating greenhouse gas emissions. Laurence Tubiana, a key architect of the Paris Agreement, said Trump's election victory "is a setback for global climate action, but the Paris Agreement has proven resilient and is stronger than any single country's policies." Tubiana, a French economist and diplomat who now serves as CEO of the European Climate Foundation, said the context today is "very different" to Trump's first election victory in 2016.
Persons: Donald Trump, Hurricane Helene, Donald Trump's, Kamala Harris, pare, Joe Biden's, Laurence Tubiana, Trump's Organizations: Democratic, White, NBC, European Climate Foundation Locations: Hurricane, Valdosta , Georgia, Paris, French
The global tariff threat is fueling calls for frontloading from all around the globe," he said. But they added it is based on the belief is tariffs increase the costs of trade, in turn lowering demand and volumes. "Shipping is a global industry feeding on international trade, so another Trump presidency is a step in the wrong direction," said Sand. "The knee-jerk reaction from U.S. shippers will be to frontload imports before Trump is able to impose his new tariffs." Logistics companies serving the Mexico to U.S. cross-border trade tell CNBC new Trump tariffs can have a negative impact on historic cross-border truck trade.
Persons: Donald Trump, Trump, Paul Brashier, Brashier, Swift, Ben Slupecki, Morningstar, Lars Jensen, Jensen, Peter Sand, Slupecki, Jefferies, Omar Nokta, Robert Lighthizer, Piper Sandler, Matthew Rubel, USTR, Obama, Peter Boockvar, Stephen Lamar, Lamar, Matthew Shay, Elect Trump Organizations: ITS Logistics, Trump, frontloading, Trucking, Hunt Transport Services, Schneider National, Norfolk Southern, CSX, Republican, U.S ., Maersk, . Shipping, Vespucci, CNBC, Shipping, U.S . Trade, Committee, Trade, White, Bleakley Financial, American Apparel and Footwear Association, National Retail Federation, Congress, Biden, Logistics Locations: United States, U.S, Maersk, East Coast, Mexico
An AI tool called AIHawk is helping some job seekers apply for hundreds of jobs a day on LinkedIn. Some users told BI the program added false information into their resumesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementA new AI tool released in August is helping some people quickly apply for roles on LinkedIn. Related Video "We've been using AI all along." AdvertisementAIHawk is free but users found problemsAIHawk is one of many AI job application tools on the market.
Persons: , Federico Elia, AIHawk, Elia, who's, they've, There's, Anthony Ettinger, Ettinger, he's, Roth, Uber, hasn't, he'll, Tommi hasn't, Alexander Alonso, Alonso, Github — Elia, Guilherme, I've Organizations: LinkedIn, Service, Roth IRA, BI, Society for Human Resource Management Locations: Italy, Silicon Valley, Mexico City, Brazil
Pursuant to a 2013 Supreme Court decision, DOJ monitors only go inside polling places with the agreement of local officials, unless they have a court order. In their federal lawsuits, Missouri and Texas officials argued that their state laws did not permit federal officials to be present at polling places. Florida did not file a lawsuit, but Secretary of State Cord Byrd told the Justice Department in a letter Friday that state law does not allow DOJ officials in polling places. The DOJ was allowed to monitor polling places, he wrote, but was not allowed to send observers inside without a federal court order. Armed federal law enforcement officers are generally prohibited from entering polling places, which are secured by local law enforcement agencies.
Persons: Trump, Jane Nelson, Adam Powell, State Jay Ashcroft, , ” Ashcroft, John Ashcroft, George W, Bush, Cord Byrd, Louis, Sarah Pitlyk, Matthew Kacsmaryk, Kacsmaryk, Ken Pax­ton, Vic­to­ry Pre­vent­ing Biden, Unlaw­ful­ly Organizations: GOP, Justice Department, DOJ, , Department, USA, Network, State, U.S, Federal, District, Texas AG Locations: Missouri, Texas, Florida , Texas, “ Texas, Downtown El Paso, Florida, St, U.S
As Election Day finally arrives, election officials, legal experts and researchers are bracing for a flood of disinformation and legal claims as vote counting begins. The final week of the campaign featured three dynamics that could lead to a protracted legal dispute if the results are close, legal experts said. Election experts say that if a clear winner emerges quickly and voting proceeds without major disruptions, large numbers of Americans may have faith in the results. A misleading advertisement from the Election Integrity Network says “The Glitch Is In” alongside a carousel of news coverage of such procedural Election Day issues. The Election Integrity Network’s founder, Cleta Mitchell, promotes her thousand-strong group as a kind of “national neighborhood watch.”Researchers also point to a new kind of infrastructure around documenting and sharing such rumors on Election Day.
Persons: Donald Trump, “ They’ve, ” Trump, Danielle Tomson, , ” Tomson, , Jennifer Liewer, Chandan Khanna, Trump, noncitizens ’, Cleta Mitchell, Elon Musk, James O’Keefe, Mike Lindell, Ben Berwick, Berwick, ” Berwick, Olivier Touron, Kamala Harris, — Harris, Organizations: University of Washington’s Center, Convention Center, Getty, Seattle, Center, Conservative, Trump, America PAC, Heritage Foundation, Protect Democracy, , FBI, National Intelligence Director’s, Infrastructure Security Agency, Service, Naval, Convention, National Guard Locations: Allentown , Pennsylvania, Arizona, Liewer, Maricopa, Beach, West Palm Beach, Fla, Maricopa County, Ariz, Philadelphia, Phoenix, AFP, U.S, Russia, Beach County , Florida
Former Philadelphia Eagles center Jason Kelce apologized Monday for smashing the phone of a person after an anti-gay slur was used to refer to his brother, Chiefs tight end Travis Kelce. I’m not proud of it,” Jason Kelce said on ESPN’s “Monday Night Countdown,” where he is a panelist on the pre-game show. The incident happened Saturday outside Penn State’s Beaver Stadium in Pennsylvania at the game between Penn State and Ohio State. In the videos, Jason Kelce then appears to turn around, grab the man’s phone, smash it to the ground, pick it up again and walk away. In this video, Kelce appears to repeat the slur to the person.
Persons: Jason Kelce, Travis Kelce, I’m, ” Jason Kelce, ESPN’s, ” Kelce, Taylor Swift, Kelce, Organizations: Philadelphia Eagles, Chiefs, Penn, Penn State, Ohio State, NBC News, Beaver, ESPN, Eagles Locations: Pennsylvania, Kelce
Business Insider is seeking nominations for its 2024 Oracles of Wall Street list. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Go to newsletter preferences Thanks for signing up! Did you or someone you know on Wall Street predict these and other significant developments in 2024? Business Insider is seeking nominations for its 2024 Oracles of Wall Street list, which highlights the top forecasters among economists, strategists, and analysts this year.
Persons: , Donald Trump, William Edwards Organizations: Service, Federal Reserve, Nvidia Locations: wedwards
Pre-election polling showed her race against former President Donald Trump could be the closest in history. Bucks County, Pennsylvania: Pennsylvania Gov. Montana: Sen. Jon Tester, a Democrat, is facing an even tougher challenge in Montana, a state Trump carried by over 16 points in 2020. AdvertisementCalifornia 22nd: Rep. David Valadao is one of 18 House Republicans representing a district President Biden won in 2020. Valadao is also one of the only two remaining House Republicans who voted to impeach Trump after the January 6 Capitol riot.
Persons: Kamala Harris, Donald Trump, , Kamala Harris upended, Gallup, It's, Trump, Harris, Biden's, Obama, Carter, Josh Shapiro, Hillary Clinton, Biden, Doug Ducey, Mark Blumenthal, Blumenthal, they're, Elissa Slotkin, Mike Rogers, Rogers, Slotin, Sen, Sherrod Brown, Bernie Moreno, Brown, AdImpact, Moreno, Montana : Sen, Jon Tester, Tim Sheehy, Sheehy, Tester, David Schweikert, Katie Hobbs, Mark Kelly, Shah, Marc Molinaro, Josh Riley, David Valadao, Valadao, Rudy Salas Organizations: Service, White House, White, Electoral, North, Bucks, Pennsylvania, GOP, Democrats, Biden, Republican, Netflix, Senate, Michigan, Trump, Democrat, Cleveland, Ohio Senate, Montana :, Republicans, Rep, Gov, . New York, Democratic, Former Locations: Pennsylvania, New York, California, Michigan , Wisconsin, North Carolina, Georgia, Nebraska, Bucks County , Pennsylvania, Philadelphia, Waukesha County , Wisconsin, Milwaukee, Clinton, Maricopa County , Arizona, Phoenix, Ohio, Montana, Arizona, Scottsdale, . New
Applying to jobs is a part of Paloma Canseco's regular routine right now, talking to an interactive AI powered recruiter on the phone is not. The call began with basic screener questions like if she was allowed to work in the U.S. and if she had a bachelor's degree. She noticed that the voice was interacting with her, giving responses like, "'Oh that's very interesting' or 'Oh that's perfect for what we're looking for.'" "I couldn't tell if it was a real person or software or an AI. After some basic questions, the virtual recruiter asked her to recall her last design experience.
Persons: Paloma Canseco's, Canseco, it's, Organizations: CNBC, LinkedIn Locations: New York, U.S
LONDON British telecom firms Vodafone and Three's multibillion-pound merger could go ahead if the companies adopt a series of proposed remedies to clear competition concerns, regulators said Tuesday. Vodafone has previously said that the combined entity, once merged, would invest £11 billion ($14.46 billion) into U.K. telecommunications infrastructure. Vodafone has also said it disagrees with earlier findings from the CMA that the merger would lead to price increases for consumers. It says the merger wouldn't pricing strategy and would enhance competition between mobile virtual network operators, or MVNOs. "Approval would mark one of the most significant developments in the history of UK mobile, heralding the arrival of a new market leader with over 29 million customers," Manning said in emailed comments.
Persons: Margherita Della Valle, Three's, Stuart McIntosh, McIntosh, CK Hutchison, Kester Manning, Manning Organizations: Vodafone, LONDON, Markets Authority, Ofcom, CMA, CNBC, 5G, Sky Mobile, Mobile, CK, CK Hutchison, EE, BT, O2, Telefonica, Liberty Global, CCS Insight Locations: London, British, Hong Kong
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