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North Carolina Republican lawmakers voted to strip the state’s incoming Democratic governor and attorney general of key powers, passing a sweeping bill before the GOP likely loses their veto-proof supermajority in the Legislature next year. That power currently lies with the governor's office, which will remain in Democratic hands after Attorney General Josh Stein defeated Republican Lt. Gov. Republicans have long sought control of the state Board of Elections, which is historically controlled by the same party as the current governor, but their past efforts have been foiled by the courts. That means they would be unable to override any future vetos from Stein without Democratic support. Stein is succeeding outgoing Cooper, whose administration repeatedly clashed with the Republican-led Legislature in the battleground state.
Persons: Dave Boliek, Jessica Holmes, Josh Stein, Mark Robinson, Roy Cooper's, , Karen Brinson Bell, Jeff Jackson, Stein, Cooper Organizations: North, North Carolina Republican, Democratic, GOP, Republican, Gov, Republicans, Democratic Gov, Board, State Board, North Carolina Legislature Locations: North Carolina, Stein
Oppenheimer's top stock picks heading into year-end
  + stars: | 2024-11-20 | by ( Sean Conlon | ) www.cnbc.com   time to read: +3 min
Meanwhile, the Dow Jones Industrial Average and the S & P 500 are each up more than 3% month to date. As November nears its close, Oppenheimer has updated its top stock ideas list. Its $145 price target reflects almost 22% upside from Tuesday's close. Oppenheimer believes medical technology company Transmedics is also due for a rally, as its $125 target reflects nearly 51% upside from Tuesday's close. TMDX YTD mountain TMDX, year-to-date For newly added Citigroup, Oppenheimer's $107 target implies more than 56% upside from Tuesday's close.
Persons: Stocks, Donald Trump's, Oppenheimer, Rob Lynch, Brian Bittner, Suraj Kalia Organizations: Oppenheimer, Nasdaq, Dow Jones Industrial, Citigroup, Oppenheimer's Locations: Instacart
CAMARILLO, Calif. — Al and Phyllis Nordquist lived in the same home on Garrido Drive for 53 years. “It was just so peaceful, we thought this is where we want to spend the rest of our life,” Phyllis, 87, said. Our whole life is right here where we lived,” Al said, standing outside what was left of his property. “I didn’t think, well, what would be left or not be left,” Phyllis said. The home that Al and Phyllis Nordquist lived in for decades was destroyed in Camarillo, Calif., in the Mountain Fire.
Persons: — Al, Phyllis Nordquist, ” Phyllis, , ” Al, , Al, , Phyllis Organizations: It’s, Volvo, Locations: CAMARILLO, Calif, Camarillo, Ventura County, Los Angeles
AdvertisementCustomer-friction concerns, partnership hiccups, compatibility questions, latency problems, and accuracy issues have snarled progress, according to internal Amazon documents and multiple people involved in the project. AdvertisementA product of this scale is "unprecedented, and takes time," an Amazon spokesperson told Business Insider. Related storiesFor example, without more clearly defined responsibilities with third-party partners, Amazon expected further delays in the launch. AdvertisementLatency has been a particularly tough problem for the AI Alexa service. Related storiesNew risksIn late August, Amazon discovered several new risk factors for the AI Alexa service.
Persons: Alexa, that's, Amazon, Taylor Swift, they're, ChatGPT, Andy Jassy, Andy Jassy Mike Blake, Claude Haiku, Rohit Prasad, Claude, AGI NurPhoto, , Fortune, Amazon's Organizations: Uber, Ticketmaster, Alexa, Echo, Amazon, Business, Bloomberg, TV, Reuters, General Intelligence, AGI, Companies
Tesla shares jumped on Monday following a report that President-elect Donald Trump's transition team are planning to make a federal framework to regulate self-driving vehicles a top priority for the U.S. Transport Department. ET, Tesla stock was up 7.98% in U.S. premarket trading after the release of the Bloomberg News report, which cited unnamed sources familiar with the matter. CNBC could not independently verify the report and has requested comment from the Trump team and from the National Highway Traffic Safety Administration, a Transportation Department unit tasked to oversee self-driving technologies. Full Self-Driving, or FSD, is Tesla's premium driver assistance system, currently available in a "supervised" version for Tesla electric vehicles. Trump's transition team is reportedly looking for policy leaders for the Transportation Department to develop a federal regulatory framework for self-driving vehicles, according to Bloomberg.
Persons: Elon Musk, Donald Trump, Tesla, Donald Trump's, Musk, Vivek Ramaswamy, Google's, Emil Michael, Sam Graves of, Garret Graves Organizations: Republican, U.S . Transport Department, Bloomberg, CNBC, Trump, National, Traffic Safety Administration, Transportation Department, White, Government, FSD, Uber Locations: Butler , Pennsylvania, U.S, Texas, California, Sam Graves of Missouri, Garret Graves of Louisiana
AdvertisementBeyoncé will perform during Netflix's NFL Christmas broadcast. The game will be a major test of the streaming service's live programming abilities. Netflix is bringing in the big — arguably, the biggest — guns next month during the streaming service's first-ever NFL broadcasts. Music superstar Beyoncé will take the halftime stage when the Houston Texans play the Baltimore Ravens during Netflix's Christmas gameday. AdvertisementThe Christmas NFL games — Netflix will air a Chiefs-Steelers match before the Texans-Ravens one — mark its biggest opportunity yet to transfer that dominance to live programming.
Persons: Beyoncé, Carter, Mark Tyson, Jake Paul, hasn't, Greg Peters, they're Organizations: NFL, Netflix, Houston Texans, Baltimore Ravens, Houston, Chiefs, Steelers, Texans, WWE
AdvertisementMarija Riba and her husband quit their jobs and moved from London to Finland. I spoke with friends who've taken a career break to recover from burnout, and they all told me they were able to relax, recover, and successfully reenter the workforce. AdvertisementIn July, my husband and I quit our jobs and moved from London to Finland. In October, my husband and I moved into our own flat, for which my parents paid the deposit and the first month's rent. We don't know how long we'll stay, but Finland is the perfect setting to focus on my health.
Persons: Marija, It's, who've, I'd, I've, we've, I'm, haven't, He's, you've, Tess Martinelli Organizations: Marija Riba, Riba Locations: London, Finland, web3, acclimatize, tmartinelli
That's due to a recent contraction in the money supply, which preceded past downturns, he told NYSE TV Live. The US economy is still likely to slow into a recession next year — and Trump's election victory may have just made the economic outlook even more challenging, according to top economist Steve Hanke. AdvertisementM2, one class of the money supply, shrank from mid-2022 to March 2024, according to Federal Reserve data. The M2 money supply started to re-expand this year, rising 2.47% year-per-year at the end of September. Trump's protectionist economic policies also impose a "big negative" for the economy, Hanke said.
Persons: Steve Hanke, downturns, Johns Hopkins, who's, That's, Hanke, Trump Organizations: NYSE TV, NYSE, Federal Reserve, Real Locations: Atlanta
The new Alexa aims to be a personalized assistant, handling diverse tasks across different devices. Amazon's AI-powered Alexa upgrade could launch with several major partners handling specific tasks such as ride-hailing, grocery shopping, and restaurant reservations, Business Insider has learned. The partner companies would become the primary option for handling those specific tasks on the upgraded Alexa. Amazon is revamping Alexa with ChatGPT-like AI features, BI first reported in January. Internally codenamed Banyan or Remarkable Alexa, the upgrade has the potential to significantly improve the voice assistant with AI features.
Persons: Uber, Spokespeople, Thumbtack, Andy Jassy, Jassy Organizations: Partners, Ticketmaster, BI, Amazon, Alexa, ChatGPT, Uber
For investment options, she referred to the firm's survey of China stocks the investment bank's analysts already cover. Morgan Stanley's basket of bear case stocks only includes overweight-rated names with a dividend yield above 4% this year. The companies must not be on Morgan Stanley's lists of stocks at a disadvantage from Republican policy and supply chain diversification. Morgan Stanley expects Tingyi's earnings per share to grow 12% this year and 11% in 2025. Sinotruk earnings can grow 18% this year and 17% next year, according to Morgan Stanley estimates.
Persons: Morgan Stanley, Laura Wang, Morgan Stanley's, Morgan Stanley's Wang, Morningstar, Claire Liang, Liang, Donald Trump, Trump Organizations: Kong, PepsiCo, Services, Cosco Shipping Energy Transportation, China, CNBC, Republican Party, U.S . Congress Locations: China, Hong Kong, Asia, Europe, Mexico
AdvertisementInflation's downtrend may not be as straightforward as some investors think, according to Charles Schwab. Immigration reform could mean higher labor costs," the note added. Labor costs risingLabor costs have accelerated in recent months, with unit labor costs among all workers in the business sector rising to 3.4% year-over-year in the third quarter, according to Federal Reserve data. Markets are beginning to dial back expectations for further rate cuts in response to inflation concerns," Schwab strategists said. Charles Schwab, Citi Economic Surprise Index"Stronger growth suggests that the Fed may not lower short-term rates as much as anticipated just a few months ago.
Persons: Charles Schwab, Donald Trump, Trump, Schwab, It's Organizations: Trump, Bureau of Labor Statistics, Labor, Federal Reserve, Unit, Bloomberg, Treasury, Business, Citi
5 things we're watching in the stock market in the week ahead
  + stars: | 2024-11-17 | by ( Zev Fima | ) www.cnbc.com   time to read: +10 min
October retail sales, released Friday morning, came in slightly ahead of expectations, indicating a 0.4% monthly increase, versus a 0.3% increase expected. Disney's reported strong earnings and its stock advanced more than 16% for the week as a result. In the week ahead, we will get earnings from three Club names, including the highly anticipated quarter from Nvidia, and a couple of housing market-related updates. The Street is looking for Nvidia sales of $33.1 billion in its fiscal Q3 and earnings of 75 cents per share. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Donald Trump, Friday's, Jerome Powell, Powell, That's, YTD We're, we're, Jensen, Trump, Nvidia's, Stanley Black, Decker, Jim Cramer's, Jim Cramer, Jim, Angela Weiss Organizations: Dow, Nasdaq, Federal, Fed, Disney, Depot, Nvidia, TJX Companies, Home Goods, Blackwell, Palo Alto Networks, Home Depot, Stanley, Walmart, Viking Holdings, Sonoma, WSM, Baidu, PDD Holdings, Deere & Co, Warner Music Group, Intuit, Ross Stores, CNBC, Traders, New York Stock Exchange, AFP, Getty Locations: Maxx, U.S, China, Palo, VIK, Williams, New York City
U.S. President Joe Biden meets with China's President Xi Jinping on the sidelines of the APEC Summit in Lima, Peru, on Nov. 16, 2024. Biden was expected to urge Xi to dissuade North Korea from further deepening its support for Russia's war on Ukraine. In front of the cameras Saturday, Xi spoke to Biden — but it was unmistakable that his message was directed at Trump. After he was greeted by Xi, Biden ignored shouted questions from reporters on his concerns about the incoming Trump administration as well as North Korea. Biden is looking for Xi to step up Chinese engagement to prevent an already dangerous moment with North Korea from further escalating.
Persons: Joe Biden, Xi Jinping, Donald Trump, Xi, Biden, haven't, We've, Trump, Warby Parker, Steve Madden, Kamala Harris, Jake Sullivan, Yoon Seok Yul, Shigeru Ishiba, Kim Jong, Pyongyang's, Kim Organizations: APEC, U.S, Economic Cooperation, U.S ., China -, Conference Center, Nike, Trump, White House, FBI, Ukraine, South, North, The North Locations: Lima , Peru, Beijing, U.S, Asia, China, North Korea, Ukraine, Lima's, Northern California, Russia, Taiwan, Moscow, United States, Russia's Kursk, Pyongyang, The, The North Koreans, Japan, South Korea, Xi, Peru
A Quarter Pounder with cheese, fries and a drink arranged at a McDonald's restaurant in El Sobrante, California, on Oct. 23, 2024. In the wake of last month's E. coli outbreak tied to McDonald's slivered onions, the fast food giant said it will invest over $100 million to boost restaurant sales and speed up the recovery at impacted franchisees. Of that total, $65 million will be invested into supporting owners who have lost business, targeting those in the hardest-hit states. Approximately $35 million will be invested traffic-driving programs, including marketing efforts, according to a memo to owners and employees viewed by CNBC. McDonald's will also be driving "local recovery plans for highly impacted markets" with more details to come in the weeks ahead, the memo said.
Persons: McDonald's, Michael Gonda, Tariq Hassan, Ian Borden Organizations: CNBC, Street Journal, Bloomberg, for Disease Control, CDC, and Drug Administration Locations: El Sobrante , California
Building passive income isn't about finding a get-rich-quick scheme. My journey from there to successful entrepreneur and coach taught me valuable lessons about building sustainable passive income. Here are my top four tips for anyone looking to start their own passive income journey. DON'T MISS: The ultimate guide to earning passive income online I began with a social media marketing agency and nailed that process before I started on my first passive income idea — a course. When my community repeatedly asked for a book about video content strategy, I wrote the book "Vlog Like a Boss."
Persons: they've, I've, It's Organizations: Invest
The Federal Reserve is widely expected to trim rates by a quarter point on Thursday, taking another step toward unwinding its tight policy. The rate on a $30,000 home equity line of credit sits at 8.7% as of the week of Nov. 1, according to Bankrate. The rate on a 30-year fixed mortgage was 7.09% as of the week of Nov. 1, sharply higher than the 4.29% in March 2022. That's because mortgage rates loosely follow the 10-year Treasury yield , which has recently taken a leg higher. Indeed, the benchmark yield stood at 4.363% during the week of Nov. 1, sharply higher than the 3.649% it traded at in mid-September.
Persons: , it's, – Darla Mercado, Nick Wells Organizations: Federal Reserve, Fed, Treasury
Tens of thousands of Americans are looking into moving abroad after Donald Trump's presidential reelection. In the hours following the presidential race being called for the Republican nominee, nearly 30,000 people and counting visited the website for Expatsi, a travel company that offers scouting trips to help Americans move abroad. 'The exit is real'LaVerne Collins, 65, was visiting Portugal on a scouting trip with Expatsi when she learned of the presidential election results. "As an African American woman, my concerns about government stability and safety is heightened," she tells CNBC Make It. "I recognized that depending on how this election would go, things could become even more unstable."
Persons: Donald Trump's, We're, Jen Barnett, We've, LaVerne Collins, Kamala Harris, Collins, Trump, she's Organizations: Republican, Expatsi, CNBC Locations: Portugal, Greensboro , North Carolina, Costa Rica, African American
Amazon's sales of cheap items are surging, driven by faster delivery speeds, executive says. Over 50% of those everyday essentials are now delivered on the same or next day, he added. "And these are especially the low-priced everyday essentials, the things that most households purchase every week." The goal has been to not only speed up deliveries, but also make it less expensive for the company to offer faster delivery. 'Real positive'During last month's analyst call, Jassy added that the growth of cheaper items is a "real positive" because it is predicated on faster delivery speeds.
Persons: , Doug Herrington, Herrington, Amazon's, Andy Jassy, Jassy, Brian Olsavsky, Mark Mahaney, Mahaney Organizations: Service, Business, Reuters, Amazon, HH
JPMorgan’s favorite stock picks heading into November
  + stars: | 2024-11-04 | by ( Sean Conlon | ) www.cnbc.com   time to read: +4 min
With the election around the corner, JPMorgan has updated its top ideas list that target growth, income, value and short-selling strategies. Yet, JPMorgan thinks that trajectory can keep going, as it has an overweight rating on the stock with a $300 price target. JPMorgan's overweight rating and target of $1,100 on the name also implies more than 34% upside from here. JPMorgan also highlighted the newly added Regency Centers as one of its growth strategies for the new trading month. Shares have jumped more than 7% this year, and JPMorgan's target implies almost 8% upside from Friday's close, on par with its average target of $77.12.
Persons: JPMorgan's, Carvana, Eli Lilly, David Ricks Organizations: JPMorgan, Nasdaq, Dow Jones Industrial, Regency Centers, Caterpillar Locations: Carvana
The Fed is going to cut interest rates by 50 basis points in December, Citi economist Veronica Clark said. Labor market weakness is showing across a number of data points, she said. According to Veronica Clark, deteriorating labor dynamics will force the central bank to cut rates by 50 basis points in December. Her point has grown more evident after October's jobs report underwhelmed expectations with only 12,000 jobs added. AdvertisementThough October's unemployment rate stayed unchanged on a rounded basis, Clark noted that it was it nearly rounded to 4.2%.
Persons: Veronica Clark, It's, Clark, , Reserve isn't Organizations: Citi, Labor, Service, Reserve, Bloomberg
People look at models of houses at the 2021 Dalian autumn real estate fair at Dalian World Expo Center on October 15, 2021 in Dalian, Liaoning Province of China. Prices of new homes in China rose at a faster pace in October, traditionally a peak season for house hunting, a private survey showed on Friday, suggesting that recent support measures could be having some early impact in a crisis-hit market. The average price across 100 cities edged up 0.29%, compared with the previous month's 0.14%, according to data released by property researcher China Index Academy. On a year-on-year basis, the average price rose 2.08% versus 1.85% growth in September. Average new home prices fell 0.02% from a month earlier in smaller cities last month, the China Index Academy data showed.
Persons: Nomura Organizations: Dalian, China Index, Authorities, Nomura Locations: Dalian, Liaoning Province of China, China, Shanghai, Beijing
Yuki Iwamura | Bloomberg | Getty ImagesThe unemployment rate for white Americans inched higher in October, according to data released Friday by the Department of Labor. In October, white Americans saw their jobless rate rise to 3.8% from 3.6% in the month prior. On the other hand, the jobless rates for both white men and women edged higher in October. While Hispanic women saw their jobless rate climb to 5.2% from 4.8%, unemployment rates for their male counterparts slid to 4.0% from 4.1%. The unemployment rate also ticked lower for Black women to 4.9% from 5.3%, while it climbed to 5.7% from 5.1% for Black men.
Persons: Yuki Iwamura, Heidi Shierholz, Shierholz Organizations: New York, Bronx Library Center, Bloomberg, Getty, Department of Labor, Economic Policy Institute, CNBC Locations: Bronx, New York
In an interview with Harpers Bazaar, Sophie Turner opened up about her marriage to Joe Jonas and her life in the US. AdvertisementSophie Turner said she struggled with American politics when she was married to Joe Jonas and living in the US. After marrying Jonas, Turner moved to LA in 2019, and they relocated to Miami in 2021. "The gun violence, Roe v. Wade being overturned... Everything just kind of piled on," she said. AdvertisementTurner, who now lives in West London, told Harpers Bazaar she's "so happy to be back."
Persons: Sophie Turner, Joe Jonas, , Jonas, Turner, Roe, Wade, Willa, Delphine, Turner didn't, Genie Doi, Chris Ouellet Organizations: Harpers, Service, Harpers Bazaar, Bazaar, British Vogue, Business Insider, Pew Research Center, BI Locations: British, LA, Miami, Uvalde, West London, England, California, Japan, Chicago, British Columbia
The US economy added just 12,000 jobs in October, way under the forecast of 106,000. Labor market watchers expected cooler job growth than September's, partly because of recent hurricanes and strikes. AdvertisementThe US economy added just 12,000 jobs in October, falling way short of the forecast of 106,000. AdvertisementThe mixed results in the jobs report could complicate the Fed's interest rate plans into next year. The new jobs report is the last US employment report before the presidential election on November 5.
Persons: , Hurricane Helene, Hurricane Milton, Milton, Lydia Boussour, NORC, Kamala Harris, Donald Trump Organizations: Labor, Service, Hurricanes, Bureau of Labor Statistics, Labor Statistics, Boeing, Reserve, AP Locations: Hurricane, United States
Goldman Sachs estimates that Helene could shave as much as 50,000 off the payrolls count, though Hurricane Milton probably happened too late to impact the October count. The Boeing strike, meanwhile, could lower the total by 41,000, added Goldman, which is forecasting total payrolls growth of 95,000. Data has been solidYet indicators leading up to the much-watched jobs report show that hiring has continued apace and layoffs are low, despite the damage done from the storms and the strikes. Still, the White House is estimating that the events cumulatively may hit the payrolls count by as many as 100,000. The "disruptions will make interpreting this month's jobs report harder than usual," Jared Bernstein, chair of the Council of Economic Advisers, said Wednesday.
Persons: Angus Mordant, Dow Jones, Milton, Michael Arone, Arone, Goldman Sachs, Helene, Hurricane Milton, Goldman, Jared Bernstein Organizations: Bloomberg, Getty, of Labor Statistics, Hurricanes, Boeing, State Street Global Advisors, of Economic Advisers Locations: Catskill , New York, U.S, Hurricane
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