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☆ Trump's mass deportation plan could threaten workforces in industries from agriculture to health care
▼ + stars: | 2024-12-09 | by ( Kate Rogers | In Katerog | ) www.cnbc.com time to read: +3 min

A labor market boosted by immigration after the Covid pandemic faces a threat from President-elect Donald Trump's plan for mass deportation of undocumented immigrants. Foreign-born workers have been taking open positions in sectors from construction and agriculture to technology and health care, fields where hiring companies have struggled to find domestic labor. Immigrant workers made up 18.6% of the workforce last year, a new record, according to Bureau of Labor Statistics data. The researchers estimated Trump's immigration policy could reduce 2025 GDP growth by 0.1 to 0.4 percentage points, or by $30 billion to $110 billion. "The consequences of a more extreme mass deportation policy would be economically disruptive in unpredictable ways and are not modeled here."

Persons: Donald Trump's, —, Jennie Murray, Trump, Vance, Karoline Leavitt, Leavitt, Wendy Edelberg, Edelberg Organizations: of Labor Statistics, National Immigration, CNBC, Trump, Brookings Institution Locations: U.S

☆ CNBC Daily Open: Geopolitical uncertainty intensifies over the weekend
▼ + stars: | 2024-12-09 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. South Korea's president survives impeachment voteSouth Korean president Yoon Seok Yeol has survived an impeachment vote over the weekend after his ruling People's Power Party boycotted the vote. Court upholds law ordering TikTok sale in U.S.A federal appeals court upheld a law requiring China-based ByteDance to sell social media app TikTok next month or face an effective ban in the U.S. TikTok said that it will ask the U.S. Supreme Court to overturn the appeals court decision.

Persons: Bashar al, Assad, Syria's Assad, Bashar Al, Yoon Seok Yeol, TikTok Organizations: CNBC, Tass, RIA, South, People's Power Party, U.S, Supreme, Nasdaq, Federal Reserve, Dow Jones Locations: Hama's, Russia, Damascus, Syria, China, U.S

☆ The Pre-Market Rundown: December 9, 2024
▼ + stars: | 2024-12-09 | 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

☆ CNBC Daily Open: Political uncertainty intensifies over the weekend
▼ + stars: | 2024-12-09 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. South Korea's president survives impeachment voteSouth Korean president Yoon Seok Yeol has survived an impeachment vote over the weekend after his ruling People's Power Party boycotted the vote. China consumer inflation rate drops to a five-month lowChina's headline inflation rate fell to a five-month low in November and missed expectations. The country's inflation rate climbed 0.2% from a year ago, lower than the 0.5% expected by economists polled by Reuters.

Persons: Hayat Tahrir, Sham, Syria's Assad, Bashar Al, Assad, Yoon Seok Yeol, Kospi Organizations: National Syrian Army, CNBC, Tass, RIA, South, People's Power Party, Nasdaq, Federal Reserve, Reuters Locations: Hama, Syria, Russia, Damascus, U.S, China

☆ Watch CNBC's full interview with Lead Bank CEO and chair Jackie Reses
▼ + stars: | 2024-12-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Lead Bank CEO and chair Jackie ResesLead Bank CEO, chair and co-founder Jackie Reses joins 'Squawk Box' to discuss the future of fintech, AI and crypto, impact of the second Trump administration, whether tech founders are being 'debanked', and more.

Persons: Jackie Reses, Trump Organizations: Lead Bank, Jackie Reses Lead Bank

☆ The Pre-Market Rundown 2: December 09, 2024
▼ + stars: | 2024-12-09 | 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

☆ Impending Florida 'condo cliff': Here's what to know
▼ + stars: | 2024-12-09 | by ( Diana Olick | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailImpending Florida 'condo cliff': Here's what to knowAfter the deadly Florida condominium collapse in Surfside back in 2021, state lawmakers required condos that are at least 30 years old to do inspections, make repairs and gather reserve funds for future repairs. CNBC's Diana Olick joins 'Squawk Box' to discuss the impending 'condo cliff' in Florida.

Persons: Diana Olick Locations: Florida, Surfside

☆ Ant Group gets new CEO as billionaire founder Jack Ma talks up AI in rare appearance
▼ + stars: | 2024-12-09 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Jack Ma, founder of Alibaba Group, speaks during 2020 China Green Companies Summit on September 29, 2020 in Haikou, Hainan Province of China. Ant Group, which runs the massive payments app Alipay, is one of China's biggest technology firms. The management changes were announced as part of the company's twentieth anniversary celebrations which also featured a speech from Alibaba and Ant Group founder Jack Ma. It's a rare public appearance from Ma who was impacted by the Chinese government's regulatory tightening of the domestic tech sector. Since then, Ant Group has been overhauling its business to be compliant with regulators.

Persons: Jack Ma, Cyril Han, Han, Eric Jing, Jing, Ma, Ant Organizations: Alibaba, China Green Companies Summit, Ant Group, CNBC, Mar, Ant Locations: China, Haikou, Hainan Province

☆ Nvidia shares slip after China opens investigation over possible violation of antimonopoly law
▼ + stars: | 2024-12-09 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Nvidia shares were under pressure Monday after a regulator in China said it was investigating the chipmaker over possible violations of the country's antimonopoly law. The State Administration for Market Regulation opened an investigation into the chipmaker in relation to acquisition of Mellanox, the Chinese government said Monday. "In recent days, due to Nvidia's suspected violation of China's anti-monopoly law and the State Administration for Market Regulation's restrictive conditions around Nvidia's acquisition of Mellanox shares ... the State Administration for Market Regulation is opening a probe into Nvidia in accordance with law," according to a statement translated by CNBC. The company has worked to create new products to sell in China that abide by the U.S. regulations. Shares have also helped push the market to new highs, along with the broader technology sector.

Persons: Jensen Huang, Biden, — CNBC's Evelyn Cheng Organizations: Center, Washington , D.C, Nvidia, Administration, Market, Mellanox, State Administration, CNBC, U.S, ChatGPT Locations: Washington ,, China, U.S

☆ Saudi energy minister: Oil market could see a reality check
▼ + stars: | 2024-12-09 | 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 EmailSaudi energy minister: Oil market could see a reality checkThe oil market could see a reality check, Saudi Energy Minister Abdulaziz bin Salman tells CNBC's Dan Murphy.

Persons: Abdulaziz bin Salman, CNBC's Dan Murphy Organizations: Saudi, Saudi Energy

☆ Watch CNBC's full interview with Eric Trump
▼ + stars: | 2024-12-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Eric TrumpEric Trump, executive vice president of the Trump organization and son of President-elect Donald Trump, discusses geopolitics in the Middle East, the outlook for the cryptocurrency industry and the scope of Elon Musk's White House role.

Persons: Eric Trump Eric Trump, Donald Trump, Elon Musk's Organizations: Trump

☆ India appoints Revenue Secretary Sanjay Malhotra as new central bank governor
▼ + stars: | 2024-12-09 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

People stand in front of a Reserve Bank of India logo at the Global Fintech Fest in Mumbai, India, 5 September, 2023. India has appointed Revenue Secretary Sanjay Malhotra as governor of the country's central bank for a three-year period, according to CNBC TV18. He will on Tuesday take over from outgoing Governor Shaktikanta Das, who also served as secretary in the Ministry of Finance before his six-year stint with the Reserve Bank of India (RBI). Malhotra is set to take over at a critical time for the world's third-largest economy, which is attempting to contain rising inflation without impairing growth. Last week, the central bank opted to keep interest rates unchanged at 6.5% after inflation surged to a 14-month high of 6.21% in October — above the central bank's 4% target and 6% tolerance ceiling.

Persons: Sanjay Malhotra, Shaktikanta Das, Das, Malhotra, — CNBC's Ganesh Rao Organizations: Reserve Bank of, Global, CNBC TV18, Ministry of Finance, Reserve Bank of India, Monetary Fund Locations: Reserve Bank of India, Mumbai, India, —

☆ A bet on this homebuilder stock ahead of earnings with a downside buffer
▼ + stars: | 2024-12-09 | by ( Michael Khouw | ) www.cnbc.com time to read: +5 min

Homebuilder Toll Brothers (TOL) reports earnings Monday after the close. Lennar (LEN) will report on Wednesday after the close. Interestingly, none of the three homebuilders that have outperformed since their reported earnings cater to the median home buyer. The average post-earnings price change for the ten homebuilders with average selling prices between $350,000 and $560,000, much closer to the median home price, is -9.4%. TOL is trading at 11.3 times forward earnings versus 10.2 times for LEN, a slight premium I believe is justified.

Persons: LEN, they've, Taylor Morrison, Toll, TOL, TOL LEN Organizations: Cavco Industries, Champion Homes, Toll Brothers, Toll, CNBC, NBC UNIVERSAL Locations: United States

☆ Treasury Department may fine small businesses up to $10,000 if they don't file this new report
▼ + stars: | 2024-12-09 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

Treasury Secretary Janet Yellen following a tour of the Financial Crimes Enforcement Network (FinCEN) in Vienna, Virginia, on Jan. 8, 2024. Many businesses have a Jan. 1, 2025 deadline to submit an initial BOI report. This applies to about 32.6 million businesses, including certain corporations, limited liability companies and others, according to federal estimates. But it seems many business owners either aren't complying with or aware of the requirement, despite outreach efforts. The "vast majority" of businesses hadn't yet filed a report, "meaning millions of small business owners and their employees will become de facto felons come that start of 2025," it said.

Persons: Janet Yellen, Valerie Plesch, Charlie Fitzgerald III, Moisand Fitzgerald Tamayo, FinCEN, Jan, Brian Nelson, Bevan Goldswain, Erica Hanichak Organizations: Bloomberg, Getty, U.S . Treasury Department, Treasury Department, Finance, CNBC, Treasury, Hudson Institute, Corporation Association of America, Department, Financial, Corporate, Coalition Locations: Vienna , Virginia, U.S, Orlando , Florida, R, Arkansas, Texas

☆ China vows 'more proactive' fiscal stimulus measures, 'moderately' looser monetary policy
▼ + stars: | 2024-12-09 | by ( Anniek Bao | In | ) www.cnbc.com time to read: 1 min

Chinese President Xi Jinping attends a reception dinner at the Great Hall of the People ahead of China's National Day in Beijing, China on September 28, 2023. China's leaders on Monday pledged "more proactive" fiscal measures and "moderately" looser monetary policy next year to boost domestic consumption, according to an official readout of a key policy meeting that outlined upcoming economic priorities. The Politburo, a top decision-making body led by President Xi Jinping, said it will stabilize property and stock markets while strengthening the "unconventional counter-cyclical" adjustment, the Communist Party's CNBC-translated readout said. This breaking news story is being updated.

Persons: Xi Jinping Organizations: of, Communist Party's CNBC Locations: Beijing, China

☆ Cramer’s Stop Trading: Chevron
▼ + stars: | 2024-12-09 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCramer’s Stop Trading: ChevronCNBC’s Jim Cramer explains why he is keeping an eye on shares of Chevron.

Persons: Jim Cramer Organizations: Chevron

☆ Marvel star Simu Liu on his rise from 'rock bottom' to choosing 'uplifting' business investments
▼ + stars: | 2024-12-09 | 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 EmailMarvel star Simu Liu on his rise from 'rock bottom' to choosing 'uplifting' business investmentsThe star of "Shang-Chi and the Legend of the Ten Rings" and "Barbie" tells CNBC's Samantha Vadas how losing his job as an accountant led him to become Marvel's first Asian superhero star and how he's returned to finance as an investor.

Persons: Simu Liu, Samantha Vadas, he's

☆ From failed accountant to Marvel and Barbie star: Simu Liu shares how he got out of 'rock bottom'
▼ + stars: | 2024-12-09 | by ( Lucy Handley | In | ) www.cnbc.com time to read: +3 min

Rich Polk| NBCUniversal | Getty ImagesMarvel's first Asian superhero star, Simu Liu, says he hit "rock bottom" before finding "enlightenment" as an actor — after his career as an accountant was a flop. "Crazy Rich Asians" was Hollywood's first movie release to feature a mostly Asian cast since 1993's "The Joy Luck Club." Simu Liu stars as Shang-Chi in Marvel's "Shang-Chi and the Legend of the Ten Rings." Disney"We have an Asian … superhero, but we also have, you know, an Asian cast member on SNL. We have incredible Asian stand-up comedians we have, you know, Asian movies like 'Minari' and 'The Farewell' and 'Past Lives'," Liu said.

Persons: Simu Liu, Rich Polk, —, CNBC's Samantha Vadas, Liu, Rich, Bowen Yang, Ken, Jennifer Lopez Organizations: NBCUniversal, Getty, Deloitte, CNBC, Luck, SNL, Ventures, Pacific Locations: Santa Monica , California, China, Canada, Toronto, Markham, American

☆ U.S. can become a crypto superpower with 'sensible' regulation, Eric Trump says
▼ + stars: | 2024-12-09 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

A set of "sensible" regulatory guidelines can help make the U.S. a cryptocurrency superpower, according to Eric Trump, executive vice president of the Trump organization and son of president-elect Donald Trump. Speaking to CNBC's Dan Murphy in Abu Dhabi, United Arab Emirates, Eric Trump said Monday that he'd been a "big fan of crypto for a long time" and his father intends to "make America the crypto capital of the world" on his return to the White House. His comments come shortly after the price of bitcoin, the world's largest cryptocurrency, climbed above $100,000 for the first time. And so, we're incredibly excited on a lot of fronts," Eric Trump said. And again, America, you know, better lead the way, otherwise we're going to leave a lot behind," he added.

Persons: Eric Trump, Donald Trump, CNBC's Dan Murphy, he'd Organizations: Trump, United, Metrics Locations: U.S, Abu Dhabi, United Arab Emirates, DeFi ., America

☆ Qatar energy minister: EU legislation is 'ridiculous' and needs reviewing
▼ + stars: | 2024-12-09 | 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 EmailQatar energy minister: EU legislation is 'ridiculous' and needs reviewingEU legislation is ridiculous and needs reviewing, Qatar Energy Minister Saad Al Kaabi tells CNBC at the Doha Forum.

Persons: Saad Al Kaabi Organizations: Qatar, Qatar Energy, CNBC, Doha Forum

☆ Ex-Dodge, Ram boss Tim Kuniskis returning to Stellantis after CEO's exit
▼ + stars: | 2024-12-09 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

Kuniskis, who retired from the automaker earlier this year, will once again lead the company's Ram Trucks brand, according to two sources familiar with the decision. A main lever is for the Ram brand to have its CEO singularly focused on that brand," the company said in an emailed statement confirming the appointment. Kuniskis, who has overseen several of the carmaker's brands in North America, had led the company's Ram and Dodge brands before retiring. Kuniskis is arguably best known for leading Dodge for most of the last decade or so. Kuniskis' return was announced in conjunction with several other changes for the automaker's North American operations.

Persons: Tim Kuniskis, Kuniskis, Ram, Carlos Tavares, company's Ram, Dodge, Chris Feuell, Alfa Romeo, Jeff Kommor, Larry Dominique, Alfa, Tavares Organizations: DETROIT, CNBC, Dodge, Challenger, Chrysler, Alfa Locations: North America, American, Stellantis

☆ Oppenheimer issues the highest forecast for 2025 on Wall Street
▼ + stars: | 2024-12-09 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +2 min

Oppenheimer initiated the highest 2025 year-end forecast for the S & P 500 among the big names on Wall Street so far. The firm's 7,100 target for the broad market index for 2025 implies 16.7% upside potential from Friday's close at 6,090.27, and 6,200 for the end of this year. Artificial intelligence is a "watershed point" for tech and the economy that could parallel the way cars revolutionized peoples' lives and the economy in the 1920s, Stoltzfus added. He believes all sectors of the market will benefit from the increased productivity from AI advancements. To be sure, while Stoltzfus believes tech will "share center stage" in the year ahead, he advocates for diversification across all market sectors.

Persons: Oppenheimer, John Stoltzfus, Stoltzfus, — CNBC's Michael Bloom

☆ Qatar energy minister: I don't 'worry much' about Trump's vow to lift LNG exports cap
▼ + stars: | 2024-12-09 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +1 min

Qatar's energy minister said he isn't too concerned about U.S. President-elect Donald Trump's pledge to lift the cap on liquefied natural gas exports. "Additional gas is going to be required, whether it is from the U.S., Qatar or other places. So additional LNG and additional competition is welcome," Saad Sherida Al Kaabi, Qatar's energy minister and CEO of state gas company QatarEnergy, told CNBC's Dan Murphy at the Doha Forum on Dec. 7. "It will all depend on supply, demand and the long-term outlook for these companies," he added, saying "I don't worry much about it." The U.S. and Qatar have held onto their position as the world's biggest LNG suppliers, with a combined market share of almost 50%.

Persons: isn't, Donald Trump's, Saad Sherida Al Kaabi, CNBC's Dan Murphy, Trump Organizations: Doha Forum, Reuters Locations: U.S, Qatar

☆ iPhone's ChatGPT upgrade: Here's what to know
▼ + stars: | 2024-12-09 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailiPhone's ChatGPT upgrade: Here's what to knowCNBC's Steve Kovach joins 'Squawk Box' to discuss the latest news from Apple.

Persons: Steve Kovach Organizations: Apple

☆ Market Open: December 9, 2024
▼ + stars: | 2024-12-09 | 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 – Market OpenCNBC brings you fast, accurate, and actionable business news and market updates.

Organizations: CNBC

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