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☆ Here's my playbook for how to invest in stocks during a Trump presidency
▼ + stars: | 2024-11-14 | by ( Jim Cramer | ) www.cnbc.com time to read: +6 min

The Trust portfolio is what we use for the CNBC Investing Club. Back in April 2018, Trump ruled then-Twitter — now X and under the ownership of Trump efficiency czar Elon Musk . It was labeled "Trump stock" and a professional announcer, the deep-voice guy we used to use all of the time at the network, recorded it. I pushed the button whenever I was sure that a stock could somehow do well under the first Trump administration. There was no "Trump Stock," "Trump Stock" button pressing for Amazon that day.

Persons: Donald Trump, Trump, He's, Elon Musk, Lisa, Jeff Marks, Jeff, —, Mark Zuckerberg, Zuckerberg, Jim Cramer's, Jim Cramer, Jim, Republican Donald Trump, Andrew Kelly Organizations: Dow Jones, Trump, CNBC, Twitter, Amazon, Facebook, Meta, New York Stock Exchange, Republican, U.S Locations: Bahamas, Butler , Pennsylvania, U.S, New York City

☆ Trump likely to uphold CHIPS Act despite his campaign rhetoric, experts say
▼ + stars: | 2024-11-07 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

Illustration of the China and U.S. flag on a central processing unit. President-elect Donald Trump is unlikely to roll back the Biden administration's CHIPS and Science Act, despite his campaign rhetoric on the bill, experts say. Trump criticized the bill and its price tag. House Speaker Mike Johnson, a Republican, then said that his party "probably will" try to repeal the law. Still, the key Biden policy, which has massive implications for Asian chips makers like TSMC and Samsung, is likely safe in the near term, according to chip experts.

Persons: Donald Trump, Trump, Mike Johnson, Johnson, Biden, Paul Triolo, Albright Stonebridge, CNBC's Organizations: Biden, Republican, Samsung Locations: China, U.S

☆ We're pocketing a gain in a disappointing stock — and would be buyers in another
▼ + stars: | 2024-11-06 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Following the trade, Jim Cramer's Charitable Trust will own 325 shares of HON, decreasing its weighting to 2% from 2.45%. With Honeywell shares rallying Wednesday alongside other industrials as part of the "Trump Trade," it's an opportunity to sell into strength a stock that has disappointed. We will realize a small gain of about 2% on stock purchased in late 2021. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Jim Cramer's, Donald Trump, Morgan Stanley, Jim Cramer, Jim, Republican Donald Trump, Andrew Kelly Organizations: Honeywell, Republican, U.S, NBC, Trump Trade, CNBC, Home Depot, New York Stock Exchange Locations: Wells Fargo, Depot, U.S, New York City

☆ Olympus shares drop over 5% after CEO resigns over drug allegation
▼ + stars: | 2024-10-28 | by ( Dylan Butts | ) www.cnbc.com time to read: +2 min

The Olympus Corp. flag flies outside the company's Ishikawa research development facility in Tokyo, Japan, on Monday, March 14, 2022. Shares of Japanese camera giant Olympus Corp fell on Monday after the company announced the resignation of its chief executive officer over a drug allegation. The stock slid 5.3% on the Tokyo Stock Exchange following news of Stefan Kaufmann's resignation, according to LSEG data. So far this year, Olympus shares have jumped 31.9%, outperforming Japan's benchmark Nikkei 225, which has risen 13.3%. Kaufmann, 56, who had worked at Olympus for two decades, complied with a request to offer his resignation, the company added.

Persons: Stefan Kaufmann's, Olympus, Stefan Kaufmann, Kaufmann, Yasuo Takeuchi, Takeuchi, Michael Woodford Organizations: Olympus Corp, Tokyo Stock Exchange, Olympus, Nikkei, CNBC, Toyota Motor, America Locations: Tokyo, Japan

☆ Here's an earnings homework checklist so you can be ready when your companies report
▼ + stars: | 2024-10-15 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

Wells Fargo on Friday was the first portfolio name to report third-quarter results, which have been greeted enthusiastically on Wall Street. Morgan Stanley and Abbott Laboratories — both Club names as well — report earnings before Wednesday's opening bell. Revenue and earnings estimates can be found on stock ticker pages on any number of free financial websites and through brokerage account providers. Portfolio management is a must. After considering these factors, be sure to then take a higher-level portfolio management view of your investments.

Persons: Wells, Morgan Stanley, Abbott Laboratories —, Jim Cramer's, —, Eli Lilly, writeups, Stanley Black, Decker, Jim, Jim Cramer, Andrew Kelly Organizations: Abbott Laboratories, Abbott Labs, Microsoft, TJX, Palo Alto Networks, Club, Nvidia, Devices, Taiwan Semiconductor Management Company, Jim Cramer's Charitable, CNBC, Flag, New York Stock Exchange Locations: Wells Fargo, U.S

☆ Vista Outdoor strikes deal to sell itself in parts to two buyers for $3.4 billion
▼ + stars: | 2024-10-05 | by ( ) www.cnbc.com time to read: +4 min

Vista struck a deal to sell its sporting goods unit, Revelyst, to investment firm Strategic Value Partners for $1.1 billion, according to a statement seen by Reuters. Taken together, the two deals value Vista at $45 per share, topping a rival $43 per share offer from MNC Capital, an investment firm led by former Vista board member Mark Gottfredson. The sale of Revelyst is expected to close by January, subject to regulatory approvals and the completion of the CSG deal. In June, the CSG deal was cleared by the Committee on Foreign Investment in the United States, which reviews foreign investments over possible national security concerns. In July, Vista launched a strategic review to explore all its options, after failing to gather investor support for the CSG deal.

Persons: Vista, Mark Gottfredson, Michael Callahan, Glass Lewis, David Geenberg, MNC's, Victor Khosla, Morgan Stanley, Moelis, Goldman Sachs Organizations: Flag, New York Stock Exchange, Partners, Reuters, Czechoslovak Group, CSG, MNC Capital, Vista, MNC, Institutional, Services, Federal, Remington, Foresight, Bushnell Golf, North, Foreign Investment, Strategic Value Partners, JPMorgan Locations: U.S, Prague, Revelyst, Minnesota, Russia, Ukraine, North America, United States, Colleyville , Texas

SPRINGFIELD, Ohio — The dozens of bomb threats and the onslaught of public attention that has befallen a small Ohio city since President Donald Trump and others pushed the false claim that Haitian migrants were stealing and eating pets has children living in fear, worried parents said Thursday. A U.S. flag is displayed on Sept. 16, 2024 in Springfield, Ohio. Luke Sharrett / Getty Images“I really feel bad for the Haitian children, because they’re here for an education,” Moore said. That’s not right, that my daughter has to be fearful,” Springfield parent Martin McWhorter said. “Why are you messing with my baby?”McWhorter said his daughter’s school was a target of the bomb threats and lamented that what had been a small, peaceful city now doesn’t feel safe.

Persons: Donald Trump, “ They’re, ” John Michael Moore, Trump, Kamala Harris, Trump’s, Sen, JD Vance, hasn’t, Luke Sharrett, ” Moore, “, that’s, That’s, ”, Martin McWhorter, ” McWhorter, Melanie Flax Wilt, we’ve, Wilt, Pierre, ” Pierre, Isaac Mackey, Sharice Otieno, couldn’t, ” Otieno, Otieno Organizations: Commission, NBC News, Walmart Locations: SPRINGFIELD , Ohio, Ohio, Springfield, U.S, Springfield , Ohio, ” Springfield, Clark, Haitian, Springfield from Florida, Columbus, Cincinnati, Indiana, Florida

☆ China seeks a homegrown alternative to Nvidia — these are some of the companies to watch
▼ + stars: | 2024-09-17 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +5 min

This has renewed focus on China's homegrown efforts to rival Nvidia and create semiconductors that can underpin the world's second-largest economy's own AI industry. Huawei then sells these chips as a part of servers that go into data centers to train AI models. Alibaba and BaiduAlibaba and Baidu both buy Nvidia chips but they are also designing their own semiconductors for AI processes. Inference is the process that follows the training of AI models, as it refers to the actual application of AI in the real world, such as a chatbot responding to user queries. Moore ThreadsMoore Threads, founded in 2020, is developing GPUs designed to train large AI models.

Persons: Paul Triolo, Albright Stonebridge, Baidu Alibaba, Wei Sun, Moore, KUAE, ByteDance Organizations: Istock, Getty, Nvidia, CNBC, Huawei Huawei, Huawei, Wall, Alibaba, Baidu, Counterpoint Research, Biren, Technologies, China Morning, Cambricon Technologies, U.S, Sequoia, GGV Locations: China, U.S, Beijing, Washington, Shenzhen, Biren's

☆ U.S. rolls out new chip-related export controls as China makes industry advances
▼ + stars: | 2024-09-06 | by ( Dylan Butts | ) www.cnbc.com time to read: +2 min

The Biden administration is rolling out new export controls on critical technologies, including quantum computing and semiconductor goods, as China makes advances in the global chips industry. The department cited "national security and foreign policy reasons" for the move, and said it was the product of extensive discussions with international partners. These restrictions cover worldwide exports, but adds exemptions for countries that add similar controls, such as Japan and the Netherlands have done in the past. "Aligning our controls on quantum and other advanced technologies makes it significantly more difficult for our adversaries to develop and deploy these technologies in ways that threaten our collective security," he added. BIS also said it is also continuing to strengthen relationships with its allies to boost the effectiveness of export controls aimed at degrading Russia's military capabilities, as well as its "enablers" such as Belarus and Iran.

Persons: Biden, Alan Estevez Organizations: U.S . Department of Commerce, department's, of Industry and Security, BIS Locations: China, U.S, Japan, Netherlands, Belarus, Iran

☆ Allies want Trump to get on message and long Covid test proves elusive: Morning Rundown
▼ + stars: | 2024-08-13 | by ( Elizabeth Robinson | Elizabeth Robinson Is A Newsletter Editor For Nbc News | Based In Los Angeles. | ) www.nbcnews.com time to read: +10 min

A study on long Covid fails to bring researchers closer to finding a diagnostic test. Why there’s no test yet for long CovidAn estimated 17 million people have long Covid, but identifying people with the condition still can't be achieved with one diagnostic test, researchers said this week. So “clinicians are left to continue doing what we have done in the past,” which is to rule out other potential health conditions rather than diagnosing long Covid, they said. The study is part of the National Institute of Health’s RECOVER Initiative, a billion-dollar-plus effort launched in 2021 to research causes and treatments of long Covid. The Freedom Caucus added that in the event of a stopgap bill, funding should be “extended into early 2025” to avoid passing a funding bill that “preserves Democrat spending.” Both demands would spark a standoff with Democratic lawmakers.

Persons: Donald Trump, Kamala Harris, Trump, Harris, Kevin McCarthy, Joe Biden, Oleksandr Syrskyi, Vladimir Putin, Putin, Aleksei Smirnov, Karen Bass, S. Organizations: Los Angeles, Trump, Former, Fox News, Kremlin, Los Angeles —, Lacrosse, Flag Locations: Florida, Ukraine, Kursk, Ukrainian, L.A, Paris, Los Angeles, Angeles, 4 e

The scenes were decidedly Russian. Flags with the country’s signature three horizontal stripes of white, blue and red. In the Russian town of Sverdlikovo, a Ukrainian soldier climbed onto another’s shoulders, broke off the wooden post anchored to a town council building and threw the Russian flag to the ground. In Daryino, a town five miles to the west, other soldiers also grabbed a Russian flag. “Just throw it away,” a Ukrainian soldier said, grinning, as another flexed his muscles.

Persons: ” Organizations: Gazprom, The New York Times Locations: Russian, Sverdlikovo, Ukrainian

☆ Trumps of the Tropics: Brazil’s Far Right Plots Its Return
▼ + stars: | 2024-08-01 | by ( Vincent Bevins | ) www.nytimes.com time to read: +3 min

As president of Brazil, Jair Bolsonaro was often called the Trump of the Tropics, an association the Bolsonaro family actively cultivated. From the moment he was elected in 2018, he loudly celebrated the United States — in his first year in office, he even saluted the U.S. flag — but he saved his most intense loyalty for one American. For decades, the Brazilian right had looked to the United States, and when Donald Trump began to transform the rules of political discourse, it took note. We realized we could take a tougher stand against the left-wing transformation taking place across our continent.”As president, Bolsonaro seemed eager to import as much of the MAGA movement to Brazil as possible. So when Trump supporters attacked the U.S. Capitol on Jan. 6, 2021, to protest a “stolen” election, many Brazilians worried that Bolsonaro supporters might try something similar.

Persons: Jair Bolsonaro, Trump, “, Bolsonaro, Donald Trump, ”, Damares Alves, MAGA, Luiz Inácio Lula da Silva, holing, Bolsonaristas, Jan, Lula Organizations: Trump, United Nations, Twitter, U.S, Capitol, Workers ’ Party, Military Locations: Brazil, United States, U.S, Florida, Orlando, Brasília

☆ Here are 3 major reports that could drive the stock market in the week ahead
▼ + stars: | 2024-07-06 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Three of the four big money center banks report this coming Friday, including Club name Wells Fargo . Economic data : The June consumer price index (CPI) is out on Thursday morning, and the June producer price index (PPI) is out on Friday morning. Earnings season : Within the portfolio, net interest income (NII) guidance is going to be a key watch item when Wells Fargo reports its quarter this coming Friday. However, other factors like muted loan demand have prevented Wells Fargo from raising its outlook this year. Wells Fargo – and our other bank name Morgan Stanely – both passed, indicating they have strong capital positions with excess money to return to shareholders.

Persons: May's, You'll, Wells, Michael Santomassimo, Morgan Stanley, We're, Wells Fargo, Morgan Stanely –, JPMorgan Chase, Jim Cramer's, Jim Cramer, Jim, Beata Zawrzel Organizations: Dow Jones Industrial, Nasdaq, Apple, Broadcom, Club, Meta, Energy, Constellation Brands, Corona, Modelo, Federal Reserve, Manufacturing, PMI, Fed, Wells, PPI, CPI, PepsiCo, Delta Air Lines, DAL, Conagra Brands, JPMorgan, Citigroup, Jim Cramer's Charitable, CNBC, U.S, New York Stock Exchange, Nurphoto, Getty Locations: Wells Fargo, FactSet, Wells, Wells Fargo –, New York, United States, America

☆ World War II Veteran Dies at 102 While Traveling to D-Day Event in France
▼ + stars: | 2024-06-05 | by ( Alexandra E. Petri | ) www.nytimes.com time to read: +1 min

A World War II Navy veteran who witnessed the raising of the U.S. flag at Iwo Jima died while traveling to France to participate in an event commemorating D-Day, a veterans organization said. Robert Persichitti, 102, died Friday, said Richard Steward, president of the Honor Flight Rochester, a veteran’s organization that Mr. Persichitti belonged to. Mr. Persichitti, of Fairport, N.Y., was among the dwindling number of his generation still attending D-Day celebrations. According to WHEC News 10, an NBC affiliate in Rochester, N.Y., Mr. Persichitti flew overseas with a group connected to the National World War II Museum and a companion, whom the organization identified as Al DeCarlo. He was on his way to celebrate the 80th anniversary of the Allied invasion of Normandy, France, known as D-Day, which turned the tide of World War II in Europe.

Persons: Robert Persichitti, Richard Steward, Persichitti, Al DeCarlo Organizations: Navy, WHEC, NBC Locations: U.S, Iwo Jima, France, Fairport, N.Y, Rochester , N.Y, Normandy, Europe, Germany

☆ McConnell suggests 'discipline' for Dem senators pressuring Supreme Court over Alito flags
▼ + stars: | 2024-06-05 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +3 min

Senate Minority Leader Mitch McConnell, R-Ky., suggested Wednesday that the Supreme Court should punish at least two Democratic senators over their calls for Justice Samuel Alito to recuse himself from key cases related to former President Donald Trump. Richard Blumenthal of Connecticut and Sheldon Whitehouse of Rhode Island are bound by court rules that "provide for discipline against those who engage in conduct unbecoming an officer of the court," McConnell said on the Senate floor. But McConnell singled out Blumenthal and Whitehouse because they are members of the Supreme Court bar. They are therefore "potentially engaged in unethical professional conduct before the court," McConnell said of Blumenthal and Whitehouse, both of whom are members of the Senate Judiciary Committee. The responses from Roberts and Alito confirm that they also viewed the communication as public, Whitehouse added.

Persons: Mitch McConnell, luncheons, Samuel Alito, Donald Trump ., Richard Blumenthal of, Sheldon Whitehouse, McConnell, Alito, Blumenthal, Whitehouse, John Roberts, Leonard Leo, Roberts, Dick Durbin, Clarence Thomas, Wednesday's Organizations: Democratic, Donald Trump . Sens, Richard Blumenthal of Connecticut, Trump, American, CNBC, Wall Street, Capitol, Durbin Locations: Ky, Washington, Rhode, Virginia

☆ Attorney General Merrick Garland fires back at House GOP contempt threat: 'I will not be intimidated'
▼ + stars: | 2024-06-04 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +3 min

U.S. Attorney General Merrick Garland testifies before the House Judiciary Committee in Washington, June 4, 2024. Attorney General Merrick Garland on Tuesday hit back at House Republicans threatening to hold him in contempt, calling their efforts part of a wave of "unprecedented and unfounded" attacks against the Department of Justice. "I will not be intimidated," Garland said in his testimony at the start of a hearing before the Republican-led House Judiciary Committee. The Judiciary panel's hearing Tuesday morning was billed as an examination of how the DOJ under Garland has become "politicized and weaponized." "Guys, I'm starting to think you're in a cult," Rep. Eric Swalwell, D-Calif., told the committee's Republicans at one point.

Persons: General Merrick Garland, Garland, Donald Trump, Joe Biden's, Robert Hur, Hur, Biden, Barack Obama, there's, Jim Jordan, Madeleine Dean, I'm, Dean, Eric Swalwell, Adam Schiff, Samuel Alito Organizations: House Republicans, Department of Justice, Republican, Committee, Justice Department, Republicans, Democratic, GOP, Trump Locations: Washington, New York, Ohio, York

☆ Supreme Court Justice Alito rejects calls to recuse from Trump, Jan. 6 cases
▼ + stars: | 2024-05-29 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +5 min

Associate Justice Samuel Alito poses during a group photo of the Justices at the Supreme Court in Washington, April 23, 2021. Supreme Court Justice Samuel Alito on Wednesday rejected Democratic lawmakers' requests that he recuse himself from key cases related to former President Donald Trump and the Jan. 6, 2021, Capitol riot following reports that flags linked to Trump's supporters were flown at his properties. "I was not aware of any connection between that historic flag and the 'Stop the Steal Movement,' and neither was my wife," Alito wrote. Trump, who is awaiting a verdict in his criminal hush money trial in Manhattan Supreme Court, applauded Alito for declining to remove himself from the case. "Congratulations to United States Supreme Court Justice Samuel Alito for showing the INTELLIGENCE, COURAGE, and 'GUTS' to refuse stepping aside from making a decision on anything January 6th related," Trump wrote in a post on Truth Social .

Persons: Samuel Alito, Donald Trump, Alito, Joe Biden, Rather, Jack Smith, Trump, —, Martha, Ann Alito, Dick Durbin, Durbin, Sen, Sheldon Whitehouse Organizations: Supreme, Wednesday, Democratic, Capitol, New York Times, Times, Alito, United States Supreme Locations: Washington, Virginia, Alexandria , Virginia, Long Beach, , New Jersey, Manhattan

Last summer, two years after an upside-down American flag was flown outside the Virginia home of Justice Samuel A. Alito Jr., another provocative symbol was displayed at his vacation house in New Jersey, according to interviews and photographs. This time, it was the “Appeal to Heaven” flag, which, like the inverted U.S. flag, was carried by rioters at the Capitol on Jan. 6, 2021. Also known as the Pine Tree flag, it dates back to the Revolutionary War, but largely fell into obscurity until recent years and is now a symbol of support for former President Donald J. Trump, for a religious strand of the “Stop the Steal” campaign and for a push to remake American government in Christian terms. Three photographs obtained by The New York Times, along with accounts from a half-dozen neighbors and passers-by, show that the Appeal to Heaven flag was aloft at the Alito home on Long Beach Island in July and September of 2023. A Google street view image from late August also shows the flag.

Persons: Samuel A, Alito Jr, Donald J, Trump, Alito Organizations: Capitol, The New York Times Locations: Virginia, New Jersey, Long

☆ Supreme Court Justice Alito sold Bud Light stock, then bought Coors during boycott
▼ + stars: | 2024-05-20 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +4 min

United States Supreme Court Associate Justice Samuel Alito poses for an official portrait at the East Conference Room of the Supreme Court building on October 7, 2022 in Washington, DC. Supreme Court Justice Samuel Alito sold shares of beer giant Anheuser-Busch InBev as conservatives were ditching the Bud Light brewer over its partnership with a transgender social media influencer . The Supreme Court did not immediately respond to CNBC's request for comment on Alito's transaction report or the timing of his stock activity. In May 2023, Modelo replaced Bud Light as the top-selling beer in the U.S. Data from around that time showed sales of Bud Light had dropped nearly 25% year over year. Roth noted that the beer companies in question have no pending business before the Supreme Court that he can think of.

Persons: Samuel Alito, Alito, Bud Light, Busch, influencer Dylan Mulvaney, Mulvaney, —, Martha, Ann Alito, Gabe Roth, " Roth, Roth Organizations: East, Anheuser, Busch, Molson Coors, Supreme, Busch InBev, Bud, Modelo, InBev, Coors, Blacks, New York Times, Trump, U.S . Capitol, Times, CNBC, Bud Light Locations: Washington , DC, U.S

☆ Supreme Court Justice Alito urged to step off Trump election case over U.S. flag controversy
▼ + stars: | 2024-05-17 | by ( Dan Mangan | ) www.cnbc.com time to read: +1 min

Associate Justice Samuel Alito poses during a group photo of the Justices at the Supreme Court in Washington, April 23, 2021. The chair of the Senate Judiciary Committee on Friday urged Supreme Court Justice Samuel Alito to recuse himself from considering cases related to the 2020 election, including the question of former President Donald Trump's immunity from criminal prosecution, because of controversy over an upside-down U.S. flag that flew outside Alito's home after the election. "Flying an upside-down American flag — a symbol of the so-called 'Stop the Steal' movement — clearly creates the appearance of bias," said Durbin, the Illinois Democrat who heads the Judiciary Committee. "Justice Alito should recuse himself immediately from cases related to the 2020 election and the January 6th insurrection, including the question of the former President's immunity in U.S. v. Donald Trump, which the Supreme Court is currently considering," Durbin said in a statement. "The Court is in an ethical crisis of its own making, and Justice Alito and the rest of the Court should be doing everything in their power to regain public trust."

Persons: Samuel Alito, Donald Trump's, Sen, Dick Durbin, Alito, Durbin, Donald Trump, Justice Alito Organizations: New York Times, Illinois Democrat, Committee Locations: Washington, Virginia

☆ Representing the U.S. and Critiquing It in a Psychedelic Rainbow
▼ + stars: | 2024-04-13 | by ( Jillian Steinhauer | ) www.nytimes.com time to read: +2 min

There, they’ll climb atop and surround a large red sculpture composed of pedestals of different heights and perform. The jingle dress dance, which originated with the Ojibwe people of North America in the early 20th century, typically takes place at powwows. In Venice, it will inaugurate the exhibition in the United States Pavilion on April 20. “How do I relate to the United States?” mused Gibson, 52, who in conversation slips effortlessly between earnestness and flashes of playful, dry wit. “I have a complicated relationship with the United States,” he said.

Persons: Jeffrey Gibson, ” mused Gibson, Gibson, ” Organizations: United States Pavilion, Cherokee Locations: Venice, Oklahoma, Colorado, Italian, North America, powwows, United States, New York

☆ U.S. crude rises above $80 as oil supply deficit forecast for 2024
▼ + stars: | 2024-03-14 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

The U.S. flag is displayed at Tesoro's Los Angeles oil refinery in Los Angeles, CaliforniaThe West Texas Intermediate contract for April rose 86 cents, or 1.08%, to $80.58 a barrel. Crude oil futures rose on Thursday, adding to the previous session's gains as the International Energy Agency now forecasts a supply deficit for 2024. The move came after the IEA forecast a slight supply deficit for the year rather than a surplus, as the organization assumes OPEC+ will keep its production cuts in place through 2024. Oil prices rose more than 2% Wednesday after Ukrainian drone attacks this week on Russian oil refineries. U.S. crude has gained 12% in 2024, while the global benchmark has gained 9.8%.

Persons: Brent Organizations: U.S, Los Angeles , California The West Texas Intermediate, International Energy Agency, IEA Locations: Los Angeles, Los Angeles , California, OPEC

☆ Who is Jeff Yass? The billionaire donor with investments in TikTok’s parent company
▼ + stars: | 2024-03-12 | by ( Kalhan Rosenblatt | ) www.cnbc.com time to read: +3 min

Yass co-founded the Philadelphia-based trading firm Susquehanna International Group, which owns a 15% stake in TikTok's China-based parent company, ByteDance. Yass' investment is under threat today, and the typically press-shy billionaire is taking fire from both the left and the right. "This would be a nightmare for Yass, given the major investment in TikTok, if a forced ban hit the company under the Biden administration," Ives said. Today, at least 150 million Americans use TikTok regularly, according to company data. The company has said it stores U.S. users' data securely and rejects the idea that it poses a threat to national security.

Persons: Jeff Yass, Yass, Donald Trump, ByteDance, Joe Biden, Dan Ives, Biden, Ives, TikTok, Chip Roy, Shou Zi Chew Organizations: Susquehanna International Group, TikTok, Wedbush Securities, Susquehanna, NBC, Capitol Locations: TikTok, Washington, Yass, Philadelphia, TikTok's China, bankrolling, ByteDance, Beijing, Texas

☆ White House, Capitol Hill divide on use of military in Red Sea is getting dangerous for the economy
▼ + stars: | 2024-02-04 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

U.S. import and export data shows that the majority of the country's trade is on foreign-flagged vessels. The Congressional calls to consider prioritizing U.S.-flagged vessels come at a time when the Iranian-backed Houthis continue to attack shipping in the Red Sea. Other nations, including U.S. ally France, have already declared their priority is to escort French-linked vessels after facing nationalistic pressure. "It could also be argued that directing military action to defend U.S. commercial shipping is within this power. However, most vessels transiting through the Red Sea are not U.S. ships, which raises questions about the extent to which these authorities can be exercised," they wrote.

Persons: Gerald R, Dwight D, Eisenhower, Mohammed Al, —, Biden's, Charles, Bud, Darr, Salud Carbajal, Hapag Lloyd, Carbajal's, Tim Kaine, Todd Young, Chris Murphy, Mike Lee Organizations: United States, Ford, Anadolu, Getty, Capitol, U.S, MDS Transmodal, Congressional, Gaza, Senate Foreign Relations, White House, Representatives, MSC, U.S . Navy, Maersk, White, Senate Armed Services, Foreign Relations, Senate, Relations, Counterterrorism Locations: Red, U.S, Iranian, Iran, France, Marshall, United States, East, South Asia, Central Asia

JERUSALEM (AP) — Houthi rebels fired a missile, striking a U.S.-owned ship Monday just off the coast of Yemen in the Gulf of Aden, less than a day after they launched an anti-ship cruise missile toward an American destroyer in the Red Sea. The attack on the Gibraltar Eagle, later claimed by the Houthis, further escalates tensions gripping the Red Sea after American-led strikes on the rebels. Since November, the rebels have repeatedly targeted ships in the Red Sea, saying they were avenging Israel’s offensive in Gaza against Hamas. “The most dangerous thing is what the Americans did in the Red Sea, (it) will harm the security of all maritime navigation,” Nasrallah said. However, U.S. sailors have received combat ribbons for their actions in the Red Sea — something handed out only to those who face active hostilities with an enemy force.

Persons: — Houthi, Yahya Saree, “, ”, Aden “, Arleigh Burke, Joe Biden, Hassan Nasrallah, ” Nasrallah, Biden, It's, Samy Magdy, Lolita C, Bassem, Danica Kirka Organizations: JERUSALEM, Eagle, Hamas, United Kingdom Maritime Trade Operations, Dryad Global, Associated Press, military's Central Command, Command, Eagle Bulk Shipping, New York Stock Exchange, AP, Eagle Bulk, Central Command, U.S . Maritime Administration, Transportation Department Locations: U.S, Yemen, Gulf, Aden, American, Red, Gaza, Suez, Europe, Eagle Gibraltar, Marshall, Stamford , Connecticut, “, America, Sea, Hodeida, Iranian, Israel, East, Qatar, Oman, Saudi Arabia, Iran, Saudi, Cairo, Washington, Bassem Mroue, Beirut, London

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