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☆ Gold hits two-week high in the run-up to U.S. inflation data
▼ + stars: | 2024-12-10 | by ( ) www.cnbc.com time to read: +2 min

Gold bar replicas are displayed at the Prospectors and Developers Association of Canada (PDAC) annual conference in Toronto, Ontario, Canada March 7, 2023. Gold prices hit a two-week high on Tuesday, underpinned by rising geopolitical tensions and expectations of a third U.S. rate cut by the Federal Reserve next week, while the market's gaze shifted to Wednesday's U.S. inflation data. "The CPI data will have limited impact on gold, especially if we get a print around the expected figure. Gold is considered a safe investment during economic and geopolitical turmoil and tends to thrive in a lower interest rate environment. Spot silver added 0.6% to $32.00 per ounce, platinum fell 0.4% to $935.55 and palladium was down 0.6% at $968.00.

Persons: Peter Grant, Fawad, Razaqzada Organizations: Developers Association of Canada, Federal Reserve, Wednesday's, Zaner Metals, Bank of, ECB, SNB, U.S . Consumer, Index, Forex.com Locations: Toronto , Ontario, Canada, U.S, Bank of Canada, China

☆ Donald Trump Is Inheriting a Weaker Economy, Job Market Than It Seems
▼ + stars: | 2024-12-09 | by ( Neil Dutta | ) www.businessinsider.com time to read: +12 min

For Trump, this economy looks like a mirror image of the one he inherited in 2017. The soon-to-be Trump economy is facing down a trio of weak spots that could start to rear their heads pretty soon after Inauguration Day. Yes, the unemployment rate sits at just 4.1%, only a bit higher than its multidecade low. A variety of measures, however, suggest that the low headline unemployment rate overstates the degree of strength in the jobs market. In both cases, the unemployment rate was quite a bit higher, suggesting that the unemployment rate likely overstates the degree of health in the labor market.

Persons: Donald Trump, —, Trump, George W, Bush, Barack Obama, Joe Biden, it's, Biden, Kamala Harris, Jerome Powell, They're, Scott Bessent, there's Organizations: Trump, Manufacturing, overinvestment, Mortgage, American, Plan, Infrastructure Investment, Jobs, Representatives, Biden, Energy, Team Trump, Consumer, Republican, Treasury Locations: Washington, Trump, Germany, China, American, steelmaking, Georgia, Arizona

☆ Trump’s FBI pick co-hosted a show for a conspiracy-filled, far-right media organization
▼ + stars: | 2024-12-08 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Brandy-Zadrozny-Circle-Byline-Template.Jpg | Brandy Zadrozny | ) www.nbcnews.com time to read: +14 min

Such were the weekly topics on “Kash’s Corner,” the eponymous online show hosted by President-elect Donald Trump’s pick to lead the FBI. The show, available only to Epoch Times subscribers, could receive fresh scrutiny as Patel faces Senate confirmation hearings. The details of Patel’s contract with The Epoch Times aren’t known. Jekielek and The Epoch Times did not respond to requests for comment. “What, is the FBI going to come around and say, ‘Now, oh, we were just spending government dollars to help safeguard a nation’?

Persons: Donald Trump’s, Kash Patel, Patel, Jan Jekielek, Trump’s, ”, Larry Elder, “, Bill Guan, Matt Gaetz, Gaetz, Gong, Barack Obama, ” Patel, Jekielek, Spygate, Bauer, Trump, Kash —, Guan, Nicholas Biase, Steve Bannon’s “, Joe Biden, “ We’ve, “ Russiagate ”, Hunter, They’re, “ It’s, Anthony Fauci, immunologist, “ Fauci, Daniels, Jean Carroll, ” Jekielek Organizations: President, FBI, Epoch Times, NBC, Times, Epoch, Trump’s Save America PAC, Big Tech, Trump, ”, A.J, University of Alabama, Prosecutors, Department of Labor’s, State, Diplomatic Security Service, Forces, Attorney’s, Southern, of, Public, NBC News, Capitol, Twitter, DOJ, U.S, Commission, National Institute of Allergy Locations: China, conspiracism, U.S, Vietnam, of New York, Trump

☆ Ghana elections: Frontrunners Mahamudu Bawumia and John Mahama try to win over voters
▼ + stars: | 2024-12-06 | by ( Nimi Princewill | ) edition.cnn.com time to read: +8 min

Opinion polls indicate that voters are split between current vice president Mahamudu Bawumia, 61, and former one-term president John Mahama, 66, who hopes to achieve a comeback similar to that achieved by US President-elect Donald Trump. Bawumia, a UK-trained economist, has been the poster boy of the government’s economic policies, chairing its economic management team. Bawumia has also been criticized by his rival, Mahama, for saying little about the economy during his campaigns. Supporters of National Democratic Congress (NDC) presidential candidate John Mahama react during his final election campaign rally, in Accra, Ghana December 5, 2024. Former Ghana President, John Mahama, speaks on the stage during the final rally of the NDC in Accra on December 5, 2024.

Persons: CNN — Ghanaians, Nana Akufo, Mahamudu Bawumia, John Mahama, Donald Trump, Godfred, Kwame Asah, “, Bokpin, Bawumia, Mahamudu, Nipah Dennis, ” Bokpin, Asah, Asante, Denis Miracles Aboagye, haven’t, ”, “ We’ve, Aboagye, Zohra Bensemra, Mahama’s, Mahama, ” Asah, de Maismont Organizations: CNN, New Patriotic Party, NPP, National Democratic Congress, US, University of Ghana Business School, University of Ghana, Ghana Statistical Service, World Bank, Bank, Getty, “, of National Democratic Congress, Reuters, NDC Locations: West, Takoradi, AFP, Accra, Ghana

☆ Barclays prefers Germany over France as it sends 'bond vigilante' warning
▼ + stars: | 2024-11-29 | by ( Jenni Reid | ) www.cnbc.com time to read: +4 min

Germany is battling an ongoing manufacturing downturn that has turned it into the bloc's growth laggard, while disputes over its budget and long-term fiscal strategy caused its government to collapse earlier this month. However, French borrowing costs have climbed above Germany's this year as political instability in the country spooked markets. "Compromise on the French budget remains possible. The term "bond vigilantes" refers to bond market investors who protest against monetary or fiscal policy they don't like by selling bonds, thereby increasing borrowing costs for the government. Beyond the short-term budget debate, Barclays found medium-term risk asymmetry was "not great" for French markets, and that "concerns about political instability and long-term fiscal trajectory may persist."

Persons: Michel Barnier's, DAX, France's, Barnier, —, specter Organizations: Barclays, French, CAC Locations: France, Germany, —, Greece

☆ Goldman's retail stock picks for Black Friday and the holidays
▼ + stars: | 2024-11-27 | by ( Pia Singh | In | ) www.cnbc.com time to read: +3 min

Goldman recently surveyed 1,000 U.S. consumers about their holiday shopping plans, sorted by channel, products and retailers. "We continue to see a healthy holiday shopping backdrop for retailers that offer strong value and innovation across their assortments," Roach said. Amazon remains one of the most popular retail destinations for holiday shopping, attracting slightly more interest compared to the prior year, according to Goldman. Target, another forecasted retail winner this season from Goldman, has lagged its retail peers this year, down 8% in 2024. Wrangler brand owner Kontoor Brands was also among Goldman's buy-rated picks that it thinks can offer strong value and product innovation.

Persons: Goldman Sachs, Goldman, Brooke Roach, Roach, LSEG, Kontoor Brands, Goldman's Organizations: Goldman, Walmart, Target, Kontoor Brands, Black, Kontoor

But investors see Bessent as a smart pick for Treasury secretary, and this sentiment sent bond yields — and therefore mortgage rates — lower. But mortgage rates are still elevated compared to where they've been in the last few months. 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. 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 still elevated, but over time they should ease as the Fed lowers rates.

Persons: Scott Bessent, they've, Donald Trump's, Freddie Mac Organizations: Treasury, Mortgage Research Center, Mortgage, Zillow, ARM, Federal Housing Administration, Department of Veterans Affairs, Fed Locations: Chevron

☆ We knew Best Buy's quarter and guide would be weak. Here's our plan for the stock
▼ + stars: | 2024-11-26 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

BBY YTD mountain Best Buy YTD These were not the results we wanted from Best Buy, but they are the numbers we had expected. Best Buy stock below $80 would push the dividend yield up to just under 5% — a nice payout for our patience. We still believe in the stock because Best Buy should benefit once mortgages drop and housing turnover picks up. Best Buy Why we own : We believe Best Buy will prove to be a go-to destination for consumers looking to upgrade hardware, much of which was purchased during Covid, to new AI-powered devices. In the Best Buy app, the company also launched the "Best Buy Gift Finder," an AI-powered gifting guide to help consumers find new products.

Persons: Jim Cramer, it's, Donald Trump, Jim, Corie Barry, Barry, Matthew Bilunas, Jim Cramer's, David Paul Morris Organizations: Revenue, LSEG, Target, Walmart, Amazon, Costco, Enterprise, Black, Microsoft, Meta, Management, CNBC, Bloomberg, Getty Locations: Tuesday's, Union City , California

☆ Best Buy cuts full-year sales forecast due to softer demand for consumer electronics
▼ + stars: | 2024-11-26 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +4 min

People walk into a Best Buy store in a Brooklyn mall on August 29, 2023 in New York City. Best Buy on Tuesday cut its full-year sales forecast as it missed Wall Street's quarterly revenue expectations and a fresh batch of iPhones and AI-enabled laptops weren't enough to drive higher sales. It expects full-year comparable sales to decline by between 2.5% and 3.5%, compared to its prior expectations of a 1.5% to 3% drop. Comparable sales includes sales online and at stores open for at least 14 months. Shares of Best Buy were down about 3% in premarket trading Tuesday.

Persons: Corie Barry, Barry, Matt Bilunas Organizations: LSEG, Microsoft Locations: Brooklyn, New York City, U.S

☆ Venezuelan security forces surround the Argentine embassy
▼ + stars: | 2024-11-23 | by ( Abel Alvarado | ) edition.cnn.com time to read: +1 min

CNN —Armed and hooded members of the Venezuelan security forces have surrounded Argentina’s embassy in Caracas, according to leaders of the country’s opposition. Six members of the opposition are currently taking refuge in the embassy, having fled there to escape a crackdown by Venezuelan authorities in the run-up to July’s presidential elections. Omar Gonzalez, another opposition member living in the embassy, posted a video on X showing Venezuelan police outside the diplomatic building. Venezuelan President Nicolás Maduro claimed victory in the July election, despite widespread skepticism in the country and overseas about the result. Similar scenes took place in September, when Venezuelan security forces surrounded the Argentine embassy.

Persons: Pedro Urruchurtu, Maria Corina Machado, Omar Gonzalez, Nicolás Maduro, Edmundo Gonzalez –, –, ”, ” Gonzalez Organizations: CNN, National Police, Venezuelan, Argentine Locations: Venezuelan, Argentina’s, Caracas

☆ Bad news if you’re looking to buy a house in the next two years
▼ + stars: | 2024-11-22 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

After hitting two-decade highs nearing 8% late last year, mortgage rates have fallen, dipping nearly as low as 6% in September. Mortgage rates are expected to stay stuck above 6% for at least the next two years, according to economists and recent forecasts. Home sales are on track for their worst year since 1995 due to home-price growth and elevated mortgage rates. Mortgage rates are closely tied to the 10-year US Treasury yield. Billionaire investor Paul Tudor Jones last month said a swelling national debt under Trump would be frowned upon by the bond market.

Persons: Freddie Mac, ” Lawrence Yun, “, Wells, Fannie Mae, Donald Trump’s, Trump, ” Bernard Baumohl, Paul Tudor Jones, “ We’re, ”, Nick Dus, “ They’ve, Dus, NAR’s Yun, Yun, ” Yun, Samantha Delouya Organizations: Washington CNN, National Association of Realtors, Federal, Treasury, Economic Outlook, Billionaire, Trump, CNBC, CNN, Fed Locations: Wells Fargo, Evansville , Indiana

☆ After a stinging election defeat, the Democrats' next big race kicks off: From the Politics Desk
▼ + stars: | 2024-11-20 | by ( The Politics Desk | ) www.nbcnews.com time to read: +12 min

After a stinging election defeat, the race to lead the DNC kicks offBy Natasha Korecki and Alex Seitz-WaldTwo weeks after suffering another stinging defeat to Donald Trump, Democrats are in the throes of dissecting what went wrong and figuring out their path forward. Martin O’Malley, a onetime presidential candidate and the commissioner of the Social Security Administration, kicked off the race by entering the fray. Minnesota Democratic Party Chair Ken Martin, a DNC vice chair and leader of the Association of State Democratic Committees, followed by formally announcing his candidacy Tuesday. Still looming out there: Wisconsin Democratic Party Chair Ben Wikler, who has developed a reputation as a prodigious fundraiser and field organizer. Read more → ☑️ Latest race calls: Democratic Rep. Marcy Kaptur defeated Republican Derek Merrin in Ohio’s competitive 9th District, NBC News projected.

Persons: Natasha Korecki, Alex Seitz, Wald, Chuck Todd, Donald Trump, Joe Biden, Jaime Harrison, Martin O’Malley, Ken Martin, Martin, O’Malley, Chuck Rocha, Sen, Mallory McMorrow, Ben Wikler, “ Ben, That’s, Rahm Emanuel, Barack Obama, Emanuel, Adam Parkhomenko, Hillary Clinton’s, “, ” Parkhomenko, James Zogby, it’s, Howard Dean, Obama —, Chuck Todd Here’s, Trumpism, Trump, wasn’t, Harris, Biden, Read, Chuck → ➡️, Matt Gaetz, Lloyd Austin, Pete Hegseth, Linda McMahon, Matt Whitaker, 🗞️ Organizations: NBC, White House, Capitol, Democratic National Committee, DNC, Maryland Gov, Social Security Administration, Minnesota Democratic, Association of State Democratic Committees, Democratic, Politico, Republican, Democratic National Convention, Wisconsin Democratic, Chicago, NBC News, Arab American Institute, America, GOP, Pentagon, “ DEI, Biden, Chuck → ➡️ Trump, Wrestling Entertainment, Education Department, Former, Atlantic Treaty Organization Locations: Michigan, U.S, Japan, Oklahoma

☆ Biden fades into the background at his final international summits: From the Politics Desk
▼ + stars: | 2024-11-19 | by ( The Politics Desk | ) www.nbcnews.com time to read: +11 min

In today’s edition, White House correspondent Mike Memoli files a dispatch from Rio de Janeiro on President Joe Biden's final international summit. Biden fades into the background at his final international summitsBy Mike MemoliRIO DE JANEIRO — President Joe Biden’s final international summits almost certainly would have played out differently had the elections back home gone as he had hoped. But President-elect Donald Trump cast a long shadow over a seemingly humbled Biden as he bid farewell to his counterparts here. Read more → 🥊 Democrats’ next fight: Minnesota Democratic Party Chairman Ken Martin became the second candidate to jump into the race to lead the Democratic National Committee. Read more →Minnesota Democratic Party Chairman Ken Martin became the second candidate to jump into the race to lead the Democratic National Committee.

Persons: Mike Memoli, Joe Biden's, Steve Kornacki, Biden, Joe Biden’s, Donald Trump, “, Trump, ”, Xi Jinping, Justin Trudeau, ” Trudeau, ” Biden, Joe Biden, Hillary Clinton, Clinton, It’s, Barack Obama, Dasha Burns, Dane, Kamala Harris, Steve, ️, edu, tim e Organizations: NBC, White House, Capitol, White, APEC, Canadian, Trump, “, NBC News, Democratic, Republican, Hialeah, voters, Gwinnett, Biden, Trump’s, ics Locations: Rio de Janeiro, JANEIRO, Brazil, Peru, China, Japan, South Korea, America, Lima, Rome, ”, Maricopa County , Arizona, Maricopa County, Maricopa, Phoenix, Maryvale, Miami, Dade County , Florida, Cuban, Venezuelan, Doral, Aventura, Gwinnett County , Georgia, The Atlanta, Atlanta, Norcross, Kent County , Michigan, Michigan, Trump, Washoe County , Nevada, Washoe County, Clark County, Erie County , Pennsylvania, Erie, Dane County , Wisconsin, Poli

☆ Trump Media in reported talks to buy crypto trading platform Bakkt, sending shares soaring
▼ + stars: | 2024-11-18 | by ( Kevin Breuninger | ) www.nbcnews.com time to read: +1 min

Trump Media is reportedly in “advanced talks” to buy the cryptocurrency trading firm Bakkt, the Financial Times reported Monday, citing two people with knowledge of the talks. Trump Media, which is majority-owned by President-elect Donald Trump, shot up by double digits minutes after the FT report was published. Trump Media has seen its market value rise and fall by billions of dollars in the run-up to the 2024 presidential election, as retail investors bet on the Republican’s momentum and political prospects. While Trump Media has reported a $363 million net loss on revenues of just $2.6 million so far this year, it boasts a market cap above $7 billion. A Trump Media spokeswoman did not immediately respond to CNBC’s request for comment.

Persons: “, ”, Donald Trump, Kelly Loeffler, Loeffler, Jeffrey Sprecher, Brian Kemp, Sen, Johnny Isakson, Democratic Sen, Raphael Warnock Organizations: Trump Media, Financial Times, President, Nasdaq, Intercontinental Exchange, New York Stock Exchange, Georgia Gov, U.S, Senate, Democratic

☆ UFC champ Jon Jones, 49ers star Nick Bosa and other athletes celebrate with 'Trump Dance'
▼ + stars: | 2024-11-18 | by ( Andrew Greif | Andrew Greif Is A Freelance Sports Journalist. | ) www.nbcnews.com time to read: +1 min

A month after Donald Trump danced spontaneously at a political rally, the moves have made their way to sporting events around the country. After two attendees fainted at an Oct. 15 rally in Pennsylvania, Trump ended his remarks, saying: “Let’s just listen to music. San Francisco 49ers defensive end Nick Bosa celebrated a sack with teammates in a game at Tampa Bay on Nov. 10. With Trump sitting cage-side Saturday in New York’s Madison Square Garden, UFC heavyweight champion Jon Jones celebrated his victory against Stipe Miocic at UFC 309 by mimicking Trump as Trump smiled. President-elect Donald Trump, singer Kid Rock and Vivek Ramaswamy stand up after UFC heavyweight champion Jon Jones' TKO victory Saturday.

Persons: Donald Trump, Trump, “, Kamala Harris, Nick Bosa, Bosa, Jon Jones, Stipe Miocic, Kid Rock, Vivek Ramaswamy, Kena Betancur, Za’Darius Smith, Las Vegas ’ Brock Bowers, Tennessee’s Calvin Ridley Organizations: Trump, San Francisco 49ers, Tampa Bay, San Francisco Chronicle, NFL, Garden, UFC, Getty, Las Vegas Locations: Pennsylvania, New York’s, AFP, Las

☆ Nearly 40% of young Americans get their news from influencers. Many of them lean to the right, study finds
▼ + stars: | 2024-11-18 | by ( Liam Reilly | ) edition.cnn.com time to read: +5 min

New York CNN —Young American adults are increasingly getting their news from social media influencers, a majority of whom are men and lean to the right, according to a new study from the Pew Research Center. On Facebook, there were three times as many explicitly conservative news influencers (39% to 13%), and on Instagram conservatives outnumbered liberals, 30-25%. “Many Republicans have long believed that social media sites censor conservative viewpoints. Social media influencers differ from trained journalists in how they report facts, often weaving their own views into current events or presenting opinions as reportable facts. The gender gap was found across most social media platforms, including YouTube, Facebook, X, and Instagram, where men outnumbered women two to one.

Persons: New York CNN —, “, influencers ”, Joe Rogan, Alex Cooper, Kamala Harris, Donald Trump, ” Galen Stocking, ” Pew, influencers, they’ve, Trump, Pew, TikTok, Elon Musk, Bluesky Organizations: New, New York CNN, New York CNN — Young, Pew Research Center, Pew, “, Trump, Facebook, Republicans, Social, YouTube Locations: New York, influencers, Beijing

Jake Paul unanimously defeated Mike Tyson Friday night in Arlington, Texas, after fighting a marquee bout on Netflix. “Yeah, definitely a bit,” Paul said during the post-fight press conference after being asked if he went easy on Tyson. “I wanted to give the fans a show, but I didn’t want to hurt someone that didn’t need to be hurt.”Mike Tyson and Jake Paul in Arlington, Texas, Nov. 15, 2024. Originally slated for this summer, the clash was postponed in May after Tyson suffered a medical setback. "I don’t care what people have to say," Paul said after the event.

Persons: Jake Paul, Mike Tyson, ” Paul, “, Timothy A, Clary, Tyson, hadn't, someone’s, Paul, Tyson's Organizations: Netflix, Getty, Paul’s, Texas Locations: Arlington , Texas, AFP, Brooklyn

☆ I was Twitter's head of content strategy. Bluesky has the edge over Threads to be the new Twitter as people leave X.
▼ + stars: | 2024-11-15 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +6 min

AdvertisementUsers and brands, like former CNN anchor Don Lemon and The Guardian, have been leaving X.Gordon MacMillan, ex-head of content strategy at Twitter, says Bluesky is most like the old Twitter. This as-told-to essay is based on a conversation with Gordon MacMillan, who was previously the head of content strategy at Twitter. Bluesky feels familiar to Twitter usersBluesky, I think, is the most like the old Twitter and feels more familiar than Threads, which doesn't have Twitter-style lists and can be hard to organize content on. They have tweaked Threads and made improvements, but Bluesky feels more familiar, even beyond the use of the color blue. It feels like BlueSky and Threads have a much better environment.

Persons: Don Lemon, Gordon MacMillan, Bluesky, Elon Musk, Donald Trump, Musk, X, it's, Jack Dorsey, BlueSky, Mark Zuckerberg Organizations: CNN, Guardian, Twitter, Facebook, Elon, Trump, Business Locations: Israel

Mortgage rates were forecast to go down in 2025. Expectations of higher inflation and more government debt under Trump have helped mortgage rates rise in recent weeks. Why mortgage rates rose ahead of the election — and are still high nowMortgage rates went down a lot in September, with 30-year rates dropping near 6%, according to Freddie Mac. How Trump's policies could lead to higher mortgage ratesZhao says that right now it's "nearly impossible" to predict where mortgage rates will go in 2025. More supply would help moderate home price growth, improving affordability even if mortgage rates remain high.

Persons: Donald Trump's, Trump's, —, Freddie Mac, they're, Chen Zhao, Melissa Cohn, Trump, Zhao, Kamala Harris, Cohn Organizations: Trump, Service, Bond, William, Mortgage, Analytics

☆ COP29: Azerbaijan’s leader takes a wrecking ball to climate talks as calls mount for a total ‘overhaul’
▼ + stars: | 2024-11-15 | by ( Angela Dewan | ) edition.cnn.com time to read: +6 min

CNN —From the moment the US election results rolled in, climate leaders knew Donald Trump would be a blow to the COP29 talks in Baku. Amid the chaos, prominent global climate leaders on Friday issued an open letter calling for a “fundamental overhaul” of the entire UN climate process. COP29 marks the third year in a row that the climate talks have been held in either a petrostate, or economy that relies heavily on oil and gas. World leaders and delegates pose for a "family photo" on day two of the COP29 talks. Sean Gallup/Getty ImagesThe geopolitical chaos comes as global climate leaders scramble to find ways to Trump-proof progress so far, as the president-elect has vowed to again pull the US out of the Paris Agreement.

Persons: Donald Trump, Ilham Aliyev, Sandrine Dixson, —, ”, Alex Scott, they’re, ” Aliyev, Aliyev, Agnès, Joseph Borrell, Azerbaijan’s COP29, Joe Biden, Emmanuel Macron, Ursula von der Leyen didn't, Sean Gallup, Trump, Gerardo Werthein, “, Javier Milei’s Organizations: CNN, The, of Rome, United Arab, Getty, New York Times Locations: Baku, United Arab Emirates, Egypt, Italy, Paris, France, Netherlands, New Caledonia, Azerbaijan, Armenia

☆ Major Trump Media shareholder ARC Global unloads nearly all DJT stock
▼ + stars: | 2024-11-15 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +2 min

The Thursday night disclosure to the U.S. Securities and Exchange Commission showed that financial firm ARC Global Investments II and its manager, Patrick Orlando, no longer own more than 5% of Trump Media stock. Trump Media reported in early September that ARC owned over 11 million shares, equating to 5.4% of the company's outstanding stock. In mid-September, a Delaware judge found that Trump Media breached an agreement with ARC and must grant it additional shares. Trump Media, which operates the Truth Social app, suffered a major selloff in late summer and by the end of September was trading near its post-merger lows. But it saw a major stock rally in October that recovered most of those losses.

Persons: Donald Trump's, Patrick Orlando, ARC's, Steven Fineman, Kamala Harris Organizations: U.S . Securities, Exchange Commission, ARC Global Investments, Trump Media, ARC, SEC, Orlando, United Atlantic Ventures, Trump, Republican Locations: Orlando, Delaware

Price growth ticked higher in October as voters began casting ballots in a presidential election in which economic concerns played a big role. The consumer price index climbed to 2.6% last month since the same time last year, the Bureau of Labor Statistics reported Wednesday. Stock futures turned higher, while traders bid up the price of government bonds. All-important shelter costs rose 0.4% from September to October, accounting for over half the monthly gains, the BLS said. Over the past four years, consumer prices have cumulatively increased about 20%, with the costs of many other goods and services rising even faster.

Persons: That's, Joe Biden’s, ” Kathy Jones, Charles Schwab, ”, Donald Trump, Trump, Jerome Powell Organizations: of Labor Statistics, BLS, Charles, Charles Schwab Center, Financial Research, ” Voters, White House, Trump, Investors, Adobe, National Retail Federation, Peterson Institute for International Economics, Citi Locations: —

☆ Bluesky’s user base has doubled in the past 90 days. Is it a mass exodus from X?
▼ + stars: | 2024-11-13 | by ( Clare Duffy | ) edition.cnn.com time to read: +8 min

Bluesky’s user base has doubled in the past 90 days — on Tuesday the company said it had gained 1 million new sign-ups in the past week alone, bringing it to more than 15 million total users. “X usage is at an all-time high and continues to surge,” X CEO Linda Yaccarino said in a post Wednesday. Bluesky also saw daily visits jump on Election Day and the day after to 1.2 million and 1.3 million, respectively, up from around 800,000 in the days before. On Bluesky, daily users more than doubled from-mid October to the post-election week. In the run-up to the election, Musk spread false and misleading claims about Trump’s competitor, Vice President Kamala Harris.

Persons: Bluesky rocketed, Elon, Musk, Donald Trump, Charlie Warzel, New York Times ’ Mara Gay, Don Lemon, X, White supremacists, Linda Yaccarino, “, Similarweb, Bluesky, ” David Carr, we’ve, Ed Zitron, EZPR, Zitron, Mike Isaac, ”, Trump, MAGA, Kamala Harris, Vivek Ramaswamy, Vladimir Zelensky, Musk’s Starlink, That’s, – CNN’s Liam Reilly, Matt Egan Organizations: New, New York CNN, Apple, New York Times, CNN, Guardian, ” New York Times, Trump, Twitter, “ Department, Government Locations: New York, anecdotally, Bluesky, ”, Russia

☆ This fund has outperformed the S&P 500 over the past 5 years. Here's how
▼ + stars: | 2024-11-13 | by ( Pia Singh | In | ) www.cnbc.com time to read: +7 min

Select Quality Equity Fund (GQEPX) is up 33% in 2024, outpacing the S & P 500's 27% year-to-date total return. It has also outperformed 99% of funds in its category over the past five years, per Morningstar. This matches the rest of the firm's fund strategies, GQG portfolio manager Brian Kersmanc told CNBC. "We focus on this concept of forward quality," Kersmanc explained. So they're considered that sort of a blue chip, almost widow-and-orphan stock within the portfolio," Kersmanc said.

Persons: Morningstar, GQEPX, Brian Kersmanc, Eli Lilly, Kersmanc, Rajiv Jain, it's, Philip Morris, —, It's, they're Organizations: GQG Partners, Equity Fund, CNBC, Nvidia, Exxon Mobil, Kersmanc, Exxon Locations: Florida, GQEPX

Bitcoin is trading near record levels, and Kalshi users are betting that the cryptocurrency could rise above $100,000 before the end of 2024. Kalshi data on Tuesday showed that 60% of users are betting that bitcoin could hit the $100,000 mark before January. The digital currency has rallied more than 28% since the U.S. presidential election last Tuesday. The prediction markets were volatile ahead of the election, but they were generally more bullish on Trump than traditional polling. However, odds and gambling platforms do not use methodologies used by traditional political polling, and therefore are not substitutes for political polls.

Persons: Donald Trump, Bitcoin Organizations: Commodity Futures Trading Commission, Trump, Metrics

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