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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. The Wall Street bank just refreshed its list of global stocks, including three it gave potential upside of more than 40% . $56 billion package for Musk denied Tesla CEO Elon Musk failed to get his $56 billion 2018 pay package reinstated. "The holiday season is in full swing and spirits seem bright, at least among investors," UBS wrote in a Monday note.
Persons: Goldman Sachs, Elon Musk, Pat Gelsinger, David Zinsner, MJ Holthaus, Gelsinger, Jay Hatfield, , Hatfield, Oppenheimer, John Stoltzfus, Savita Subramanian, Lisa Kailai Han, Alex Harring, Pia Singh Organizations: CNBC, Intel, Investors, Nasdaq, Dow Jones, UBS, Conference Board, downer, Investment, Bank of America Locations: Delaware
See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. 15-Year Mortgage RatesAverage 15-year mortgage rates have been hovering in the high 5% range, according to Zillow data. 5-Year Mortgage Rate TrendsHere's how 30-year and 15-year mortgage rates have trended over the last five years, according to Freddie Mac data. Mortgage rates are determined by a variety of different factors, including larger economic trends, Federal Reserve policy, your state's current mortgage rates, the type of loan you're getting, and your personal financial profile. Mortgage rates are still elevated, but over time they should ease as the Fed lowers rates.
Persons: we'll, Freddie Mac Organizations: Federal Reserve, Fed, Mortgage Research Center, Mortgage, Zillow, ARM, Federal Housing Administration, Department of Veterans Affairs Locations: Chevron
Major Asian chip stocks outside of China rose Tuesday, shrugging off a new round of U.S. semiconductor export curbs aimed at impairing Beijing's capability to produce certain high-end chips. Taiwan Semiconductor Manufacturing Company — the world's largest contract chip supplier — saw shares rise 2.4%. The Biden administration's latest chip curbs will also target sales of high-bandwidth memory chips, which could affect the world's two largest memory chip makers — South Korea's SK Hynix and Samsung. Naura Technology Group , Piotech and ACM Research were among the largest Chinese companies to be included in the export controls list. The latest export restrictions include a new "red flag guidance" to address compliance concerns, and several "critical regulatory changes" to enhance the effectiveness of existing controls.
Persons: shrugging, Lasertec, Advantest, Biden, Derrick Irwin, CNBC's, Gina Raimondo, Harris Administration's, TSMC Organizations: Taiwan Semiconductor Manufacturing, Korea's SK Hynix, Samsung, Samsung Electronics, SK Hynix, Allspring Global Investments, The, of Commerce, Naura Technology, Piotech, ACM Research, Semiconductor Manufacturing International Corporation, Hong Kong . U.S, Biden, Huawei Locations: China, Tokyo, Korea's, Hong Kong .
In this article SYFBFHJPMBARC-GBCCOF Follow your favorite stocks CREATE FREE ACCOUNTA customer uses a credit card to pay for items January 28, 2022 at a retail shop in New York City. Synchrony and Bread raised the annual percentage rates, or APRs, on their portfolios by an average of 3 to 5 percentage points, according to Sakhrani. Some pain, no gainThe CFPB says the credit card industry profits off borrowers with low credit scores by charging them onerous penalties. In March, the agency introduced a rule to cap late fees at $8 per incident, down from an average of about $32. While the rule is currently held up in courts, card users are already dealing with the higher borrowing costs and fees attributed to the regulation.
Persons: Robert Nickelsberg, Banks, Sanjay Sakhrani, Perry Beberman, We've, Beberman, Athleta Organizations: Getty, Verizon, JCPenney, Consumer Financial, CNBC, U.S . Chamber of Commerce, Federal Reserve Bank of New, Citigroup, Barclays, JPMorgan Chase, American Express, Banana Locations: New York City, Federal Reserve Bank of New York, Stamford , Connecticut, Banana Republic
AdvertisementPutin has signed off on a record defense budget for 2025 amid the ongoing Ukraine war. Defense spending will rise to 13.5 trillion rubles, making up a third of the country's budget. Russian President Vladimir Putin has signed off a federal budget that will boost defense spending to a record level next year. However, Russia's economy is under pressure, with wartime activities driving the economy so hot that inflation has spiked. Russia's economy ministry forecasts that the country's economy will grow by 3.9% this year and 2.5% next year.
Persons: Vladimir Putin, Putin, Russia's, Andrei Kostin, VTB —, , Kostin Organizations: Putin, Defense, Russian, Russia, Institute for, Reuters, Monetary, IMF Locations: Ukraine, Russian, Russia, Russia's
Art Cashin, UBS’ director of floor operations at the New York Stock Exchange and a man The Washington Post called “Wall Street’s version of Walter Cronkite,” has died. It was part of a persona that was carefully constructed over more than 50 years on Wall Street. Though he was a respected market historian, he was most renowned as a storyteller for the stock market. Those who are somewhat suspect, they do much better.”He had two great loves in his life: his family and the New York Stock Exchange. In the age of computerized trading, the fabled NYSE trading floor still survives, though in greatly diminished form.
Persons: Cashin, Walter Cronkite, , Bobby Van’s, Nellie, ” Cashin, Arthur D, Thomson McKinnon, , PaineWebber, New York Americans —, John Wayne Western, I’ve, Arthur Cashin, Cronkite, Cashin Jr, — CNBC’s Martin Steinberg Organizations: UBS, New York Stock Exchange, Washington Post, CNBC, NYSE, Herzig, Wall, World Trade, New York Americans, Heroes, CBS, Xavier High School Locations: Jersey City , New Jersey, Jersey City, Brooklyn, Manhattan, Dunkirk, New, U.S, , , New York, NY
I frequently cover shopping events as a reporter for NBC Select, and I spent weeks combing through discounts to find the best Cyber Monday clothing deals actually worth shopping. SKIP AHEAD Best Cyber Monday clothing deals | More Cyber Monday clothing sales | How I picked the best Cyber Monday clothing deals | Why trust NBC Select? I worked with NBC Select editors to finalize the live list, which I’m frequently updating throughout Cyber Monday to reflect the most up-to-date prices. “They have a warm coziness that makes them really nice to wear during colder months.”Best Cyber Monday clothing salesHere are the best Cyber Monday clothing sales to know about. I’m an associate reporter for NBC Select who has covered deals and sales for almost two years including sales events on clothing, footwear and more.
Persons: I’ll, , Zoe Malin, , Abercrombie Abercrombie, Slim Palazzo, Jordan Bowman, Mili Godio, It’s, Malin, Lindsay Schneider, Ralph Lauren, Hanna Andersson, TikTok Organizations: NBC, Old Navy, Spanx, Nordstrom, Nike, Abercrombie, sitewide, Banana, Free, Wellness, Facebook, Twitter Locations: sitewide Zara
By Thomas Harms, senior vice president and managing director, Asia Pacific, HerbalifeIn Asia Pacific, the entrepreneurial spirit is thriving as many individuals, from Generation Zs to the Boomers, aspire to own their own businesses. More than three in five (63%) aspiring entrepreneurs in Asia Pacific also plan to start a small business in the next 18 months. While the shifting consumer spending trends reveal a clear potential for growth, will the health and wellness sector present a new wave of business opportunities for Asia Pacific? Growing focus on health and wellness in Asia PacificEarlier this year, Herbalife surveyed 8,000 respondents across 11 markets for the Asia Pacific Business of Wellness Survey. Health and wellness a bright spot for aspiring entrepreneursThe health and wellness industry presents a significant growth opportunity for aspiring entrepreneurs, making the future of entrepreneurship in the region look promising.
Persons: Thomas Harms, Zs, Herbalife Organizations: Boomers, Asia, Healthcare, Bain & Company, Asia Pacific, of Wellness Survey, Bain, Company's, Health, Insider Studios Locations: Asia Pacific, Herbalife, Asia
Over coffee with Ben Wikler, chair of the Wisconsin Democratic Party, this summer, I was talking about my own unproductive tendency toward political despair, and my recurrent fantasies of moving abroad to give my kids a start in a less cruel country. I was reminded of this conversation when I spoke to Wikler on Sunday, after he’d announced that he was running for Democratic National Committee chair. But while Wikler admitted to the same anxiety many of us are feeling, he sounded animated, almost cheerful. The front-runner is reportedly Ken Martin, head of Minnesota’s Democratic-Farmer-Labor Party, mostly because he’s a consensus choice. “If he wins, the party won’t be electing him as a force of personality, but as a safe pair of hands,” wrote Politico.
Persons: Ben Wikler, Wikler, he’d, I’ve, Donald Trump, , “ I’m, who’ve, Ken Martin Organizations: Wisconsin Democratic Party, Democratic National Committee, Democratic Party, Minnesota’s Democratic, Farmer, Labor Party
Treasury yields were little changed on Monday as investors awaited economic data, expected to be published through the week, including labor and manufacturing insights. Investors are keenly anticipating labor data which will offer insights about the strength of the U.S. economy. A strong labor report will put the Fed on the path to cut rates further. Meanwhile, on Monday investors are expecting the ISM Manufacturing PMI report for November, which will offer insights about the health of the manufacturing economy. A PMI reading above 50% indicates an expanding manufacturing economy while below 50% suggests a decline.
Persons: Christopher Waller, Jerome Powell Organizations: Treasury, Labor, Survey, PMI Locations: U.S
On the campaign trail, he pledged a 60% tariff on goods imported from China and a 10% to 20% tariff on goods from other countries. But if tariffs do happen, we don’t know, for instance, how long they’ll last and if there will be exclusions. Still, new tariffs could significantly increase consumer prices on nearly everything that isn’t entirely US-made, which isn’t much these days. Here’s what you might want to put on your holiday shopping list now to get ahead of possible tariffs. China accounts for 78% of US total imports, according to a recent analysis commissioned by the Consumer Technology Association report.
Persons: Donald Trump, he’s, Trump, it’s, , Scott Lincicome, , ” Lincicome, Corie Barry, Steve Madden Organizations: New, New York CNN, Cato Institute, Consumer Technology Association, CTA, Apple, National Retail Federation, Trump Locations: New York, Mexico, Canada, China, United States, India
Analyst Craig Irwin upgraded Tesla shares to buy and increased his price target on the stock to $380 from $85. Tesla shares are up roughly 42% year to date, marking a massive turnaround since President-elect Donald Trump won the U.S. presidential election and strengthened his ties with Tesla CEO Elon Musk . "Musk's authentic support for Trump likely doubled Tesla's pool of enthusiasts and lifted credibility for a demand inflection. He believes Tesla's domestic EV market share could rise back above 50% in the near term. The company's market share had fallen to 48.2% in the third quarter, he said.
Persons: Tesla, Roth MKM, Craig Irwin, Donald Trump, Elon Musk, Trump, Irwin, Telsa, Joe Biden, Roth, FactSet Organizations: U.S, Trump, Tesla, EV
AdvertisementThe housing affordability crisis will persist through 2026 due to rising home prices and higher mortgage rates. High mortgage rates are driven by Donald Trump's expected inflationary policies, limiting the Federal Reserve's rate cuts. Thomas Ryan, an economist at Capital Economics, said the two driving factors behind the housing affordability crisis — high prices and high mortgage rates — are likely to continue moving higher through the next two years. Ryan estimates that the average 30-year fixed mortgage rate will hover around 7% for much of 2025 and likely not dip to 6% until the end of 2026. "With borrowing costs elevated, house prices at all-time highs, and inventory scarce, it is no wonder that households are downbeat about home buying," Ryan said.
Persons: Donald Trump's, Thomas Ryan, Ryan, Freddie Mac Organizations: Capital Economics, Federal, University of Michigan's Locations: America
Payments processing company Block is one of Bernstein's favorite stocks heading into 2025. Analyst Harshita Rawat, who holds an outperform rating on the stock, raised her price target on shares to $120 from $90. It also owns digital wallet company Cash App and buy-now-pay-later company Afterpay. "Looking into 2025, we see potential for mid-teens gross profit growth driven by incentives around increasing direct deposit penetration (the #1 driver of long-term growth), growth in borrow and commerce initiatives (e.g., Cash App and Afterpay on Cash App Card). The stock also has the potential for inclusion in the broad market S & P 500 index, she added.
Persons: Harshita Rawat, Rawat, Cash, — CNBC's Michael Bloom Locations: Friday's
UK annual house prices rise by most in two years, Nationwide says
  + stars: | 2024-12-02 | by ( ) www.cnbc.com   time to read: +2 min
British house prices rose in November at the fastest annual pace since November 2022, according to data from mortgage lender Nationwide on Monday that added to signs of resilience in the property sector despite higher borrowing costs. Annual prices rose 3.7% in November, and rose 1.2% on a monthly basis, Nationwide said. Other measures of Britain's housing market have also shown momentum picking up. Figures from the Bank of England last week showed lenders approved the most mortgages for house purchases since August 2022. Gardener expects the housing market to continue to strengthen in the coming months.
Persons: Robert Gardner, BOE, Gardener, Keir Starmer's Organizations: Nationwide, Bank of England, Keir Starmer's Labour Locations: Guildford, England, British
Sturti | E+ | Getty ImagesWhen shopping for a home, many buyers may hope to avoid purchasing a property subject to a homeowners association. In 1970, there were 10,000 community associations with about 2.1 million residents, per the Foundation. The entity is an affiliate organization of Community Associations Institute, a membership group for HOAs and other community organizations. HOA membership is more common in some areas. About 60% of surveyed homeowners reported having a positive experience with their community, according to Frontdoor.
Persons: Thomas M, Skiba, Steve Horvath, Frontdoor Organizations: Finance, Census, Foundation for Community Association Research, Community Associations Institute, CNBC, HOA, American National Bank of Texas Locations: U.S, HOA, an, homebuyers, HOAs, Florida, HOA United
Chinese leader Xi Jinping has made self-sufficiency a major pillar of his economic strategy to make China a tech superpower. On Monday, the US Commerce Ministry announced curbs on the sale of two dozen types of semiconductor-making equipment and restrictions on numerous Chinese companies from accessing American technology. China’s Commerce Ministry condemned the move, accusing the US of “abuse” of export controls and posing “a significant threat” to the stability of global industrial and supply chains. ‘Strongest ever’ controlsSenior US officials have also accused China of outright stealing American-made AI software, which Beijing denies. Last October, the Commerce Ministry reduced the types of semiconductors that American companies can sell to China, citing the desire to close loopholes in regulations announced in 2022.
Persons: Biden, Donald Trump, Xi Jinping, China’s, , Gina Raimondo Organizations: Washington CNN, US Commerce Ministry, China’s Commerce Ministry, Communist Party, ‘ Strongest, Commerce Ministry, Trump, China Construction Bank Locations: China, Hong Kong, Washington, Beijing, Taiwan, People’s Republic of China, ICBC
Asia-Pacific markets were set to kick-start a data-heavy week mostly higher, with investors awaiting economic readings from several countries, including Japan, South Korea and China. Manufacturing PMI came in at 50.3 — its highest level since April — beating the 50.2 expected by economists polled by Reuters. Manufacturing PMI came in at 50.1 in October. A reading higher than 50 shows expansion in activity, while below that shows contraction. On Monday, manufacturing PMI readings from S&P Global will be released for economies throughout Asia, including the Caixin PMI survey for China.
Persons: , China's Organizations: Manufacturing PMI, Reuters, PMI, P Locations: Chaoyang district, Beijing, China, Asia, Pacific, Japan, South Korea, Australia, Indonesia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAI chat bots help people find deals during holiday shopping season, says BofA's Justin PostJustin Post, Bank of America internet analyst, joins CNBC's 'The Exchange' to discuss the rise in shopping chat bots, how the features are helping drive traffic to retailers, and more.
Persons: BofA's Justin, Justin Organizations: Justin Post, Bank of America
President of Rassemblement National parliamentary group Marine Le Pen (L) speaks to French far-right Rassemblement National (National Rally) RN party's President and lead MEP Jordan Bardella during the French far-right Rassemblement National (National Rally) RN party's parliamentary seminar at the French National Assembly in Paris on September 14, 2024. Erlend Robaye | Erroba | Getty ImagesIf France's political turmoil comes to a head and Barnier's government is toppled, it's uncertain what could happen next. French Prime Minister Michel Barnier (C) ahead of his general policy statement to the French National Assembly in Paris on October 1, 2024. "If the new and still very much minority government reaches agreement with National Rally and passes the 2025 budget, then it will produce some relief in markets ... "With the end of ultra-low interest rates, France's debt servicing costs are projected by the ECB to rise above 4% by 2034, which would cause a major and persistent debt crisis.
Persons: Jordan Bardella, Ludovic Marin, Michel Barnier, Barnier, Le Pen, Bardella, Erlend, Emmanuel Macron, Alain Jocard, Holger Schmieding, Le, Mike Gallagher, Storm Caetano Organizations: Rassemblement National, National, French National Assembly, Afp, Getty, Marine, Front, National Assembly, Agence France, Presse, RTL, Reuters, Erroba, EU, French, Berenberg Bank, Continuum Economics, ECB, Chatelet Locations: Paris, France's, France, Chatelet Les Halles
The final month of the year is typically a good month for the stock market. The S & P 500 could rise to about 6,081, from where it closed last week at 6,032.38. That means the S & P 500 would top 6,100, according to Johnson, who sees small-cap and midcap stocks as primary beneficiaries of the broadening rally. This means the S & P 500 could end the year around 6,140. On average, the S & P 500 gains 1.6% during this period.
Persons: Craig W, Johnson, Piper Sandler, SPX, Oppenheimer's Ari H, Wald, CFRA's Sam Stovall, Roth, JC O'Hara, Santa Claus, bode, Jonathan Krinsky Organizations: Dow Jones Industrial, Dow Locations: Santa
LTK co-founder Amber Venz Box on the rise of live shopping
  + stars: | 2024-12-02 | 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 EmailLTK co-founder Amber Venz Box on the rise of live shoppingAmber Venz Box, LTK co-founder and president, joins 'Squawk Box' to discuss the rise of live shopping on social media platforms, the company's commission structure, and more.
Persons: Amber Venz, Venz, LTK
Merkel and Trump meet in the Oval Office of the White House in Washington, DC, on March 17, 2017. Merkel recalled how Putin, knowing that she had once been wounded by a dog and was uneasy around them, had infamously brought his large Labrador to a meeting between them in 2007. Merkel said Putin later conceded to her that “he had lied” about this. French President Emmanuel Macron and Merkel look at Trump during a summit in Watford, United Kingdom, December 4, 2019. Asked whether she had made errors of judgment during her premiership, Merkel said: “We always have to look at matters under the conditions we were in then.
Persons: Angela Merkel, Donald Trump, Vladimir Putin, Kim Jong, Putin, , ” Merkel, CNN’s Christiane Amanpour, Merkel, Trump, Saul Loeb, unconventionally ”, , , John Kelly, Adolf Hitler’s Nazi, Trump’s, Kelly’s, Annegret Hilse, Russia Putin, Koni, Axel Schmidt, Emmanuel Macron, Christian Hartmann Organizations: CNN, Former, Trump, White House, White, Getty, , Reuters, Organization, NATO, AFP, Russia, Georgia, Kremlin Locations: Russia, Ukraine, Germany, East Germany, Washington ,, Berlin, Labrador, Moscow, Europe, Atlantic, Romanian, Bucharest, Georgia, Sochi, Crimea, Watford, United Kingdom
Dollar faces crunch week for U.S. rates, yen holds gains
  + stars: | 2024-12-02 | by ( ) www.cnbc.com   time to read: +3 min
The risk of an early hike was enough to keep the dollar pinned at 149.60 yen , having shed 3.3% last week in its worst run since July. The euro held at $1.0555, after bouncing 1.5% last week and away from a one-year trough of $1.0425. That left the dollar index flat at 105.790, having closed out November with a gain of 1.8% even after last week's setback. "But the bar for a further shift in expected interest rates in favor of the U.S. in the near term is quite high," he added. Political uncertainty is another drag for the single currency as investors wait to see if France's government can survive the week intact.
Persons: Kazuo Ueda, Christian Keller, Jonas Goltermann, Jerome Powell, Michel Barnier Organizations: Bank of Japan, Barclays, Capital Economics, Federal Reserve, European Central Bank, National Locations: Tokyo, U.S, Greece
Sine that initial call, Lulu shares gained about 7% through last Friday, versus a 4% total return of the S & P 500 and flat performance for Nike. Right now, the options market implies a about a $30 move in the stock price, higher or lower, by the end of this week. Rather than continuing to hold the stock, an investor looking for slightly less risk could use a stock substitution strategy through earnings. The trade: Stock substitution strategy A stock substitution strategy is an investment approach that uses options instead of directly holding shares of a stock. An options structure can also reduce the maximum potential loss if the underlying stock's price falls significantly.
Persons: Lululemon, LULU, Lulu, Armour, LULU Jan Organizations: Nike, Adidas, VF Corp, CNBC, NBC UNIVERSAL Locations: Sine
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