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Tinder cautioned investors it expected another drop in paying users in the fourth quarter. A Forbes Health survey this year reported 78% of Americans felt exhausted by dating apps. AdvertisementSingles aren't the only ones feeling the ache from dating app fatigue — Wall Street is too. AdvertisementDeflating investor energy around dating apps mirrors a national outcry of "swipe fatigue," following a decade of the apps' meteoric rise. As users grow frustrated with dating app fees and algorithms, new startup founders are entering the space.

Persons: Bumble, Tinder, —, influencer Serena Kerrigan, Whitney Wolfe Herd, Lidiane Jones, Sitch Organizations: Forbes Health, Service, Match, Inc, Bloomberg's Technology Summit Locations: Geneva

☆ Stocks making the biggest moves premarket: Pinterest, Monster Beverage, Bath & Body Works, Trump Media & more
▼ + stars: | 2024-11-08 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

Trump Media & Technology Group — Shares of President-elect Donald Trump's media company fell another 4.6% in premarket trading following a 23% plunge in the previous session. The company saw $162 million in revenue, topping the consensus expectation for $150 million. Analysts polled by FactSet penciled in 43 cents in earnings per share and $1.91 billion in revenue. Affirm lost an adjusted 31 cents per share, narrower than the consensus forecast of 35 cents, according to LSEG. Bath & Body Works — The fragrance retailer slid 2.7% in the wake of a Barclays downgrade to underweight from equal weight.

Persons: Donald Trump's, platform's, DraftKings, Sweetgreen, LSEG, Toast, StreetAccount penciling, Versace, Michael Kors, FactSet, BioNTech, Goldman Sachs, Goldman, — CNBC's Sean Conlon, Yun Li, Pia Singh, Samantha Subin Organizations: Trump Media & Technology, LSEG, Arista Networks, Arista, Capri Holdings, Capri, Beverage, Revenue, Barclays Locations: LSEG, BioNTech —

On the campaign trail, he said Taiwan should pay the US for protection. But a second term for President-elect Donald Trump raises uncomfortable questions for Taiwan at a moment of mounting risks. Advertisement"I think, Taiwan should pay us for defense," Trump told Bloomberg Businessweek in June. Advertisement"There could well be a demand for Taiwan to 'pay' more for its own protection and perhaps to invest in the United States. "The good news for Taiwan is that Taiwan has bipartisan support in the US Congress," Chin said.

Persons: Donald Trump, —, Lai Ching, Lai, Trump, Tsai Ing, Wen, Xi Jinping, he's, Chong Ja Ian, Biden, Abrams, Benjamin Blandin, Blandin, James Chin, Chin, Zhu Fenglian, Zhu, Taiwan's, Ting Yeh Organizations: Service, Taiwan, US, Bloomberg Businessweek, Wall Street, National University of Singapore, Pentagon, Air Missile Systems, Patriot, Yokosuka Council, Pacific Studies, Trump, University of Tasmania, China's Taiwan Affairs Office, Taiwan Watch, Nikkei, China Locations: Taiwan, Beijing, Taipei, China, United States, Yokosuka, Asia, Wall Street, Silicon Valley, Nikkei Asia, Ukraine

☆ The best writing online about why Trump won, why Harris lost, and what it all means
▼ + stars: | 2024-11-08 | by ( Theron Mohamed | Erin Snodgrass | ) www.businessinsider.com time to read: +20 min

Commentators and academics have been weighing in on why Donald Trump won the US election. The images of him bleeding after a failed assassination attempt became the symbol of what supporters saw as a campaign of destinyHow Mr. Trump won is also the story of how Ms. Harris lost. Laurel Duggan, UnHerdWhy white women stuck with TrumpAdvertisementThe abortion issue had seemingly little impact on Republicans's performance with white women in this cycle. Nate Silver, founder of FiveThirtyEight and author of the Silver Bulletin newsletterSilver republished a lengthy blog post from late October with the new title "24 reasons that Trump won." Nate Silver offered up 24 reasons why Trump won.

Persons: Donald Trump, —, There's, Donald Trump's, They've, Kamala Harris, Frank Bruni, Let's, Harris, aren't, Hannibal Lecter, Trump, Allysia Finley, Taylor Swift, Taylor, Swift, they'd, I'd, Sarah Baxter, Mueller, Francis Fukuyama, Ankush Khardori, Politico Trump, Shane Goldmacher, Maggie Haberman, Jonathan Swan, MAGA, Biden's, John Burn, Alexandra Ulmer, Gram Slattery, Elon Musk, Jim VandeHei, Mike Allen, Axios, David Weigel, Annie Lowrey, Biden, Gerard Baker, Hitler, Laurel Duggan, UnHerd, Sen, Chuck Schumer, Todd Landman, Evan Vucci Steve Hanke, Ronald Reagan, Steve Hanke, Reagan, Steve Hanke Nate Cohn, Tina Fordham, Trump's, Nate Silver, FiveThirtyEight, AP Matthew Yglesias, Yglesias, overperform electorally, Dominic Sandbrook, Sandbrook, Hillary Clinton, Tom Williams, Eric Cortellessa, Musk, Eric Cortellessa's Organizations: Service, Democratic, The New York Times Democrats, Trump, Street, Democrats Get, demeaned, Democrats, Financial, Republican, Biden, The New York Times, Trump Won, Republican Party, Britain's, Reuters Trump, White, Republicans —, Trump Republicans, Semafor, The Atlantic Voters, The, Democrat, Republicans, University of Nottingham, AP, Johns Hopkins University, Silver Locations: Trump, Ukraine, White, London, Florida, South Dakota, Arizona, Pennsylvania, Philadelphia, Ohio, Illinois, Wisconsin, Washington, New York City, San Francisco, Israel, California

☆ Amy Coney Barrett: Meet the last best hope for Supreme Court liberals
▼ + stars: | 2024-11-08 | by ( Joan Biskupic | ) edition.cnn.com time to read: +19 min

CNN —Supreme Court Justice Amy Coney Barrett stands apart. And that is why Barrett has become the best hope for what remains of the liberal wing, particularly after Trump’s election victory. As Trump returns to the White House, the Supreme Court may be even more positioned to check the balance of powers. Nonetheless, progressives have few options, and an uncertain horizon, and cannot help but imbue Barrett with hope. “As Justice Barrett said…,” is a common Kagan refrain, too.

Persons: Amy Coney Barrett, Donald Trump’s, Barrett, Trump, imbue Barrett, Sandra Day O’Connor, Reagan, Anthony Kennedy, Sonia Sotomayor, Elena Kagan, Ketanji Brown Jackson, Barrett homed, Sotomayor, …, Kagan, Kagan interjected, “, Richard Glossip, Brett Kavanaugh, Thomas, Roberts, Kavanaugh, Adam Feldman, Jake Truscott, Republican centrists O’Connor, Kennedy, Lewis Powell, Ruth Bader Ginsburg, Dobbs, Antonin Scalia, Scalia’s, Scalia, Jesse, Warren Burger, Clarence Thomas, Samuel Alito, Neil Gorsuch, they’ve, Gorsuch, ” Barrett, Jackson, Alito, ” Alito, Biden, Justice Roberts, CNN Kagan, Barrett’s, Roe, Wade, ‘, ’ Barrett, Adrian Zackheim, Justice Barrett, ” Zackheim, Sentinel publicists, Sen, Mitch McConnell, McConnell, Barack Obama’s, Merrick Garland, Ginsburg Organizations: CNN, Republican, White, Republicans, Representatives, Notre Dame, Trump, Democratic, Glossip, Jackson, Health Organization, New York, Association, Harvard, ., Biden, Capitol, of Education, Ronald Reagan, Sentinel, Penguin Random, Wall Street, University of Louisville McConnell Center Locations: America, Oklahoma, ”, . United States, New Orleans, Washington, Haiti, Idaho, California, Louisville

☆ Here are Friday's biggest analyst calls: Nvidia, Apple, Home Depot, Domino's, Wingstop, Warby Parker, Rivian, Bank of America & more
▼ + stars: | 2024-11-08 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Jefferies reiterates Nvidia and Marvell as buy The firm says the two chipmakers still have the most upside. Citi upgrades Bank of America to buy from neutral Citi says the bank could be a beneficiary of lighter regulation. Bank of America downgrades Rivian to neutral from buy Bank of America said it sees regulatory risk under a Trump administration. Bank of America upgrades Teledyne Technologies to buy from neutral The firm says it sees upside ahead for the industrial conglomerate. Goldman Sachs upgrades Wingstop to buy from neutral The firm says the wings restaurant has "best-in-class" growth.

Persons: William Blair, Warby Parker, Bernstein, Apple, Lowe's, Jefferies, Goldman Sachs, Sweetgreen, Goldman, outperformance, it's bullish, BNTX, Oppenheimer, Piper Sandler, Wells, Airbnb, Gross, Trump, TDY Organizations: Apple, Apple Intelligence, Nvidia, Marvell, Enterprise, JPMorgan, China EV, Catalyst, Holdings, Barclays downgrades, Body, Citi, U.S, Deutsche Bank, UBS, Molson Coors, OW, Bank of America, Trump Administration, " Bank of America, Teledyne Technologies Locations: AVGO, 4Q24, DPZ, UW

☆ Cargo plane operators are on high alert after a string of suspected Russian sabotages
▼ + stars: | 2024-11-08 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +6 min

Fires at DHL warehouses this year may have been part of Russian sabotage operations, officials have said. AdvertisementSuspected Russian sabotage activities targeting the air freight industry have been on the rise this year, and the industry is preparing for further action. Speaking a few months after the DHL fires, the chief of the UK's MI6 intelligence service, Richard Moore, said he believed Russian intelligence services had "gone a bit feral." AdvertisementKremlin Spokesman Dmitry Peskov has denied Russia's involvement in sabotage operations in Europe. The Federal Office for the Protection of the Constitution, Germany's domestic intelligence services, and the BND declined to comment further.

Persons: —, Brandon Fried, Fried, Thomas Haldenwang, Haldenwang, Frank Umbach, Umbach, Richard Moore, Shashank Joshi, Joshi, Dmitry Peskov, KIRILL KUDRYAVTSEV, Keir Giles, Giles, that's Organizations: DHL, Service, Airforwarders Association, Street Journal, Financial, Energy, Security, University of Bonn, Rheinmetall, Royal United Services Institute, NATO, Military Counterintelligence Service, Federal Office, Getty Images, Chatham House's, Eurasia Program Locations: Europe, Russia, Moscow, Germany, America, Leipzig, Birmingham, Lithuania, North America, Russian, Ukraine, AFP, Chatham House's Russia

☆ Cramer's week ahead: Earnings from Home Depot, Disney and new CPI data
▼ + stars: | 2024-11-08 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Friday identified what to look out for next week on Wall Street, highlighting earnings from Home Depot , Disney and new consumer price index data from the Labor Department. Cramer also reflected on the Trump-fueled market rally over the past few days, saying there are likely more gains to come. Tuesday has more action, with earnings from Home Depot, Shopify , Tyson Foods and Spotify . Because Tyson Foods is a major meat seller, Cramer said investors can learn a lot about grocery pricing from the company's earnings commentary. Cramer added that some believe there's weak demand in the semiconductor capital equipment sector, but he said it's possible an earnings report from Applied Materials could "change that dynamic."

Persons: CNBC's Jim Cramer, Cramer, Tyson, Shopify, he's Organizations: Home Depot, Disney, Labor Department, Trump, Home, Tyson Foods, Spotify, Federal, Cisco Locations: Shopify

☆ The Wall Streeters whispering in Trump's ear
▼ + stars: | 2024-11-08 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +1 min

Trump's transition team is turning to Wall Street titans for advice on key economic appointments. Howard Lutnick, transition team co-chair and bank CEO, is turning to friends for advice. Wall Street is eager to have its opinion heard. AdvertisementTrump's transition team did not respond to Business Insider's request for comment. Here are some of the key players with Wall Street connections now offering advice to the Trump administration:

Persons: Howard Lutnick, Scott Bessent, Gary Cohn, John Paulson, —, Donald Trump, Cantor Fitzgerald, Lutnick, Trump Organizations: Wall Street titans, Service, Wall Street, Wall Locations: New York

☆ What Trump tariffs could mean for AI darling Nvidia
▼ + stars: | 2024-11-08 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Wall Street is questioning how potential tariffs on imports under a Trump administration could affect artificial intelligence darling Nvidia and the broader industry . Earlier this year, Trump accused Taiwan of stealing the chipmaking business from the U.S. and said he would impose tariffs as president. NVDA 5D mountain Shares over the last week If the administration implements tariffs, Ives believes Nvidia could gain some workaround given its integral status. That could come in the form of excluding some of its next AI chips and graphics processing units from the tariff wave expected in spring 2025. Many investors also view Trump as a proponent of AI innovation.

Persons: Trump, Kamala Harris, Joe Biden, Jensen Huang, Dan Ives, Ives, Hua Cheng, Elon Musk, Musk, Mizuho's Jordan Klein Organizations: U.S, Taiwan Semiconductor Manufacturing, NVIDIA, Nvidia, Wedbush Securities, Bank of, Blackwell Locations: Taiwan, U.S, Mirova

☆ Why the election felt like the 2021 meme stock rally — but way bigger
▼ + stars: | 2024-11-08 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +6 min

The US election showed shades of the meme stock mania of early 2021. Ron DeSantis' Presidential Announcement with Elon MuskSimilarly, in February 2021, Cuban thanked members of Reddit's WallStreetBets forum for "changing the game" and "taking on Wall Street." Wall Street traders watched the swings in election betting markets to assess the state of the presidential race and inform their investments, Malek added. Trump Media & Technology Group, the parent company of Truth Social which counts the president-elect as its majority shareholder, unites several of these ideas. AdvertisementThere are clear parallels between the meme stock mania of early 2021 and the social-media chatter and betting-platform activity going into the election.

Persons: Elon Musk, Mark Cuban, —, Musk, Trump, Ron DeSantis, Cuban, Reddit's, dogecoin, Kamala Harris, It's, Neil Wilson, Keith, Gill, Young, Joe Rogan, Mark Malek, Siebert, Malek, Naeem Aslam, Tesla, Dan Coatsworth, AJ Bell Organizations: Service, GameStop, Florida Gov, Elon, Democratic, Trump, WSB, Wall Street, titans, Wall, Zaye, Markets, Trump Media & Technology Group, Truth, White Locations: America, Florida, Polymarket, WallStreetBets, . Washington

☆ Steve Madden is getting out of China just days after Trump’s victory. But there’s a catch
▼ + stars: | 2024-11-08 | by ( David Goldman | ) edition.cnn.com time to read: +5 min

One US company, just two days after Trump’s reelection, says it isn’t wasting time getting out of China. Steve Madden, a $3 billion shoe company, announced Thursday that it would rapidly halve its Chinese production to avoid Trump’s tariffs. But here’s the catch: Steve Madden isn’t moving its production to the United States. ‘There for a reason’The retail industry has been crying foul over Trump’s tariffs for quite some time – apparel and shoe companies in particular. Trump’s tariffs could cost the typical middle-income US household more than $2,600 per year, according to research from Peterson Institute for International Economics.

Persons: Donald Trump, Steve Madden, Steve Madden’s, Edward Rosenfeld, “, ” Rosenfeld, Rosenfeld, Trump, Joe Biden, Madden, Laura Champine, ” Champine, it’s, Douglas Holtz, Eakin, Steven Mnuchin, Donald Trump’s, CNN’s Jake Tapper, ” Mnuchin, Mnuchin Organizations: CNN, Trump, Wall Street, National Retail Federation, Companies, Wall, American, Peterson Institute for International Economics Locations: United States, China, USA, Cambodia, Vietnam, Mexico, Brazil, America

CNN —Tech tycoon Elon Musk joined a call between US President-elect Donald Trump and Ukrainian President Volodymyr Zelensky the day after the presidential election, according to a source with knowledge of the situation. Zelensky previously said on X that he called Trump on Wednesday and congratulated him on “his historic landslide” win. Strong and unwavering US leadership is vital for the world and for a just peace,” Zelensky wrote at the time. CNN is reaching out to Musk and Trump’s teams about the call, which was first reported by Axios. Questions about Musk’s influence in the war also began to mount amid a rise in Ukrainian sightings of Russian uses of the satellite internet service.

Persons: Elon Musk, Donald Trump, Volodymyr Zelensky, Zelensky, “, Strong, ” Zelensky, Axios, Vladimir Putin, Musk, –, Starlink, Walter Isaacson, Isaacson, Dmitry Peskov Organizations: CNN — Tech, US, Ukrainian, CNN, Trump, PAC, NASA, SpaceX, Pentagon, Starlink, Russian, Putin Locations: Kyiv, Russia, Ukraine, Crimea, Crimean, Ukrainian, American

☆ Fintechs Upstart and Toast soar on earnings
▼ + stars: | 2024-11-08 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +2 min

Chris Comparato, CEO, the Toast, Inc. IPO at the New York Stock Exchange, on September 22, 2021. Toast , which sells payments technology to restaurants, jumped 14%, closing at its highest since 2021. Toast is still well off its pandemic highs of 2021, but the stock has now more than doubled this year. The company's adjusted earnings forecast of $90 million to $100 million for the current quarter sailed past estimates. Coinbase shares jumped 48% for the week, their strongest performance since January 2023.

Persons: Chris Comparato, David Girouard, Donald Trump's, Coinbase, Trump, Gary Gensler, Bitcoin, dogecoin, fintechs, Jack Dorsey's, Robinhood Crypto Organizations: Inc, New York Stock Exchange, Nasdaq, SEC Locations: fintech, solana

☆ Don't expect Treasury yields to come down significantly anytime soon, says Ned Davis Research
▼ + stars: | 2024-11-08 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Treasury yields have ripped higher of late, even as the Federal Reserve continues to cut rates. The benchmark 10-year Treasury note yield has soared nearly 70 basis points to 4.3% since mid-September, when the Fed cut rates by a half-point. Despite the Fed's latest action, the incoming Trump administration is likely to keep yields elevated, according to Ned Davis Research. Dimitrova noted that rising debt-to-GDP ratio has been closely linked with higher bond yields. The question for investors now is: How long until higher yields start putting pressure on equities?

Persons: Trump, Ned Davis, Veneta, Dimitrova, Goldman Sachs, BNTX Organizations: Federal Reserve, Ned Davis Research

☆ Tesla was the top ‘Trump trade’ of the week, along with some energy and financial stocks
▼ + stars: | 2024-11-08 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Tesla and a handful of other so-called Trump trades led the market rally this week as investors welcomed the Republican's victory in the presidential election. Excluding stocks that reported earnings this week, some of the best performers were those viewed as tied to Donald Trump 's win. Trump trades can earn that title by being part of sectors such as financials or energy viewed as beneficiaries of his expected shifts away from regulation, among other things. CNBC screened for the Trump trade names that led the index higher this week and did not report earnings. The electric vehicle maker is one of the best-known Trump trades given CEO Elon Musk 's advocacy for the president-elect on the campaign trail.

Persons: Tesla, Donald Trump, Trump, Elon Musk, LSEG, John Murphy, Murphy, Elon Musk's, Baker Hughes Organizations: Trump, Monday, Federal Reserve, CNBC, Bank of America Locations: Texas

☆ The air freight industry is on high alert after fires at DHL warehouses were linked to Russian sabotage operations
▼ + stars: | 2024-11-08 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +6 min

☆ Wall Street is bullish on one portfolio retail stock while raising concerns about another
▼ + stars: | 2024-11-08 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

The news on Home Depot Telsey Advisory Group, a leader in retail industry analysis, upgraded Home Depot stock to a buy-equivalent outperform on Friday. The news on Best Buy Citi lowered its Best Buy price target to $109 per share from $115 on Friday while maintaining its buy-rating on the stock. BBY YTD mountain Best Buy stock performance year-to-date. Bottom line Despite Citi's concerns, we're sticking with Best Buy. Best Buy should be well-positioned to benefit from falling interest rates if home sales pick up again.

Persons: —, Telsey, Jim Cramer, Jim, they're, Donald Trump's, Jim Cramer's, Ting Shen Organizations: Advisory, Depot, Federal, Home Depot, Home, Citi, Trump, CNBC, Home Depot Inc, Bloomberg, Getty Locations: China, Washington , DC

☆ S&P 500, Nasdaq close at records and extend postelection rally as Fed cuts rates
▼ + stars: | 2024-11-07 | by ( Jesse Pound | Alex Harring | ) www.nbcnews.com time to read: +2 min

The S&P 500 and Nasdaq rose Thursday, extending Wall Street’s rally in the wake of President-elect Donald Trump’s victory, as traders weighed the latest rate cut from the Federal Reserve. The S&P 500 gained 0.74% to close at a record high of 5,973.10. The S&P 500 jumped 2.53% for its best post-election day in history. Those big swings were the backdrop for the Federal Reserve’s interest rate cut Thursday afternoon. “The balance of risks gives the Fed ample room to lower the Fed Funds rate well into 2025.

Persons: Donald Trump’s, Trump’s, Jerome Powell, ”, Jamie Cox, Trump, Tony Roth, we’ve, ” Roth, JPMorgan Chase Organizations: Nasdaq, Federal Reserve, Dow Jones, Dow, Treasury, Harris Financial, Wilmington Trust, “, Big Tech, Apple, Nvidia, JPMorgan, American Express Locations: Wilmington

A look at the factors that led Donald Trump to victory and Kamala Harris to an election loss. A fast-growing wildfire spreads in California. How Trump won and Harris lost the electionThe analysis of President-elect Donald Trump's victory over Vice President Kamala Harris began before Election Day had ended. But Donald Trump’s presidential election victory injects new uncertainty into what happens long-term. Fast-moving wildfire tears through California communityA wildfire in Southern California quickly grew to over 14,000 acres, sending firefighters rushing to get residents out of homes and to safety, officials said.

Persons: Donald Trump, Kamala Harris, Trump, Harris, Donald Trump's, Joe Biden, ”, Biden, Donald Trump’s, Trevor Johnson, Johnson, Ryan Sun, Steve Ballmer's, they’re, — Andrew Greif, Elizabeth Robinson Organizations: NBA, Trump, Republicans, Howard University, Biden, Republican, NBC, ’, Federal, Wall, “ Firefighters, Intuit, Los Angeles Clippers, Phoenix Suns, Steve Ballmer's Los Angeles Clippers Locations: California, Southern California, Ventura County, Santa Ana, Moorpark, Inglewood , California

Trump and the GOP have denied the tariffs would be inflationary, pointing to Trump’s success in imposing tariffs in his first term without reigniting inflation. Yet those tariffs, at $300 billion on selected Chinese goods, were much more targeted than the $3 trillion worth of blanket tariffs Trump is now expected to propose. And the inflationary environment is different now, too: During Trump’s first term, inflation only briefly ever climbed above 2%. It was Trump who appointed Powell to lead the Federal Reserve in his first term. But Trump has signaled a willingness this year to abandon the long-running principle of maintaining the Fed as an independent body.

Persons: Donald Trump’s, Trump’s, Trump, ’ Anna Kelly, David Seif, Jerome Powell, Powell, ” Trump, ” Seif, Seif Organizations: Federal, Wall, Federal Reserve, Nomura Holdings, Trump, GOP, Republican National Committee, Nomura, Fed, Bloomberg, Chicago Economic, Reuters Locations: China

☆ 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

☆ A top mind at JPMorgan Asset Management warns of clear economic red flag after Trump's big win, despite soaring US stocks
▼ + stars: | 2024-11-07 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

US stocks had one of their best days in years and hit new records after Trump's resounding win over Kamala Harris in Tuesday's election. Both of those moves make sense, said David Kelly, the global strategy chief at JPMorgan Asset Management, in an interview on Wednesday. AdvertisementThe strategy chief has been adamant that higher tariffs — one of Trump's key proposals — would cripple the US economy and endanger the global economic expansion. Related storiesMost economists condemn tariffs, which are taxes on imports, because they tend to lead to higher prices and lower economic growth. Sean Gallagher, the global head of Lazard's small-cap equity platform, made a similar point in a recent interview with Business Insider when asked about Trump's tariffs and Kelly's stance.

Persons: Stocks, Donald Trump, David Kelly, Wall, he's, —, Donald Trump's, Trump's, Kamala Harris, Kelly, Trump, Mahatma Gandhi, I'm, I've, Tom Orlik, who's, Chris Murphy, Susquehanna's, Orlik, Sean Gallagher, Gallagher, maven, He's, inflation's Organizations: House . Market, Service, Nasdaq, US, JPMorgan Asset Management, Republican, JPMAM, Bloomberg Economics, Business, Trump Locations: Tuesday's

☆ How Elon Musk stands to cash in on Trump's presidential victory
▼ + stars: | 2024-11-07 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +10 min

Jim Watson | Afp | Getty ImagesAs Donald Trump celebrated his presidential victory early Wednesday morning, Elon Musk was right there with him. Elon," Trump said onstage at his Mar-a-Lago resort, thanking the world's richest person for spending two weeks campaigning in Pennsylvania. Musk's investment in Trump is already paying off, even though Trump doesn't take office until Jan. 20. Musk was introduced by Cantor Fitzgerald CEO Howard Lutnick, who called the Tesla CEO the "greatest capitalist" in U.S. history. Having a role in a bespoke commission could give Musk power over federal agencies' budgets, staffing and the ability to push for the elimination of inconvenient regulations.

Persons: Elon Musk, Donald Trump, Jim Watson, Elon, Trump, Musk's SpaceX, Musk, surrogates, Tony, Cantor Fitzgerald, Howard Lutnick, Lutnick, Biden, Tesla, Sergio Flores, Geoff Orazem, Orazem, Vladimir Putin, Xi Jinping, Bill Nelson, Putin, Tenet, JD Vance Organizations: Republican, Afp, Getty, Trump, U.S, Tesla, SpaceX, Twitter, Department of Government, SEC, Environmental Protection Agency, Federal Aviation Administration, IRS, Microsoft, Meta, U.S . Army, National Security Agency, FedScout, NASA, U.S . Air Force, Space Force, Federal Emergency Management Agency, National Labor Relations Board, Street Journal, NBC News, Tenet Media, Department of Justice, Putin, Kremlin, PAC Locations: Butler , Pennsylvania, Lago, Pennsylvania, China, Hurricane, New, Puerto Rico, Meta, U.S, Taiwan, Russian, Ukraine

☆ Europe's markets head for mixed open as Trump win settles in; Fed, BoE decisions in focus
▼ + stars: | 2024-11-07 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

European markets are heading for a mixed open as global investors digest Donald Trump's presidential election win and political upheaval in Germany. They also await monetary policy decisions from the U.S. Federal Reserve and Bank of England. Global markets continue to react to Donald Trump's decisive election win, with U.S. stocks rallying Wednesday as Wall Street rejoiced the speedy conclusion of the presidential election. Central banks will be closely watched Thursday, with the Fed and BoE both expected to announce rate cuts. Scholz announced he would bring a vote of confidence to the German parliament on Jan. 15.

Persons: Donald Trump's, Germany's DAX, BoE, Chancellor Olaf Scholz, Christian Lindner, Lindner's, Scholz Organizations: U.S . Federal Reserve, Bank of England, France's CAC, IG, Global, Fed Locations: Germany, Asia, Pacific, U.S

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