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☆ 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

Companies beat expectations, with some boosted by large cloud growth. AdvertisementThe tech giants Meta, Alphabet, Amazon, Apple, and Microsoft reported earnings this week, and investors were laser-focused on the results of AI investments. Cloud is kingMicrosoft, Alphabet, and Amazon saw significant growth in their cloud businesses, fueled by increased demand. Jeremy Goldman, EMARKETER's senior director of briefings, told BI that Microsoft's cloud business had decelerated from the "breakneck pace" of previous quarters. Related storiesWhile Google reported stronger cloud growth, Microsoft still leads it in cloud market share, and both are behind Amazon Web Services.

Persons: —, Kate Leaman, Jeremy Goldman, EMARKETER's, Amy Hood, Dan Romanoff, Andy Jassy, Tracy Woo, Forrester, AWS's, Jassy, Rufus, Sundar Pichai, Pichai, Mark Zuckerberg, Hood, Michael Field, Jaejune Kim, Lisa Su, we've Organizations: Apple, Companies, Service, Microsoft, Amazon, Morningstar, Google, Amazon Web, Amazon Web Services, Investment, Big Tech, Bank of America Securities, Meta, Nvidia, SK Hynix, Samsung, AMD, Services

☆ Why the European Union's tariffs on Chinese automakers may not work
▼ + stars: | 2024-09-14 | by ( Robert Ferris | In | ) www.cnbc.com time to read: +2 min

By the end of October, the European Union will make a final decision on what some analysts call the biggest EU trade case against China in more than a decade. But automakers and countries are divided over whether to place tariffs — so far of up to 36.3% — on Chinese electric vehicles. A German automotive trade association says they would hurt German automakers, which have a significant presence in China. China has been exporting cars to countries all around the globe, and both supporters of tariffs and trade and industry analysts point to China's support for its domestic manufacturers as a rationale for imposing tariffs. Chinese automakers can produce a car for about $5,500, said Felipe Muñoz, senior analyst for JATO Dynamics, while it costs European automakers closer to $20,000.

Persons: William Reinsch, Scholl, Felipe Muñoz, Muñoz, It's Organizations: European Union, China, Business, Center for Strategic, International Studies, JATO Dynamics Locations: European, China, Germany, Washington ,

☆ Why Cramer advises against running out to buy Nvidia's post-earnings stock dip
▼ + stars: | 2024-08-28 | by ( Zev Fima | ) www.cnbc.com time to read: +12 min

Jim doesn't see a need to step in first thing Thursday morning and buy the dip. Through its Nvidia AI Enterprise service, Nvidia is in the process of building out a potentially massive software business. Quarterly commentary During Nvidia's fiscal second quarter, better-than-expected sales were driven by strength in all key segments, including a Data Center segment revenue record. Regarding China, Kress said, "Data Center revenue in China grew sequentially in Q2 and is a significant contributor to our Data Center revenue. Guidance Taking a closer look at guidance, Nvidia's fiscal third quarter may not have beaten the Street's estimates by the magnitude some were hoping for, but it's far from disappointing.

Persons: Lindy, Triple Lindy, Jensen Huang, Hopper, Blackwell, Jim Cramer, Jim doesn't, Colette Kress, Kress, it's, inferencing, ChatGPT, Cloud prem, Nvidia Isaac, Jim Cramer's, Jim, Andrej Sokolow Organizations: Nvidia, Revenue, Triple, Moore's, Hopper, Blackwell, Amazon Web Services, Google, Enterprise, Devices, Intel, Apple, Data Center, Networking, Management, Data, Centers, Automotive, Siemens, Nvidia Blackwell, Mercedes, Benz, Nvidia Omniverse, CNBC, Getty Locations: China, Boston, Silicon Valley

As U.S. markets opened for trading on Monday, tech's mega-cap companies lost about $1 trillion in market cap, deepening a downturn that sent the Nasdaq into correction territory last week. Nvidia shed more than $300 billion in market cap at the opening bell, though it quickly recovered about half of its loss. The company surpassed $3 trillion in market cap and briefly passed Microsoft and Apple to become the world's most valuable company. Its market cap now sits below $2.5 trillion. A widely-read Goldman Sachs note from June warned that the biggest-spending companies had little to show for their AI expenditures.

Persons: Bitcoin, It's, Mark Zuckerberg, Sundar Pichai, Goldman Sachs Organizations: New York Stock Exchange, Nasdaq, Nvidia, Apple, Microsoft, Nikkei, Google, Elliott Management Locations: U.S, Meta, cryptocurrency

☆ The stock market is flashing warning signs as tech shares are a 'valuation timebomb,' SocGen says
▼ + stars: | 2024-07-18 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

The SocGen strategist has been warning of a recession and coming stock crash for months. The tech sector is showing a number of signs that valuations are an overstretched "timebomb," he said. AdvertisementThe stock market is flashing warning signs that the tech stock frenzy is about to end, according to one of Wall Street's most bearish analysts. "As time marches on, there are few of us left who were in the industry during the 2000 Nasdaq crash let alone the 1987 crash. Analysts are expecting tech stocks to post forward earnings growth of around 30% year-over-year, Edwards noted, though tech stocks have actually been posting around 20% yearly earnings growth.

Persons: Albert Edwards, —, He's, Edwards, Russell, Morgan Organizations: Service, Societe Generale, Nasdaq, Tech

☆ Investors grow concerned AI isn't being adopted fast enough to justify the hype, says Goldman Sachs
▼ + stars: | 2024-07-11 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

"Our conversations with investors have been defined by skepticism about latter stages of AI adoption," Ryan Hammond of Goldman's portfolio strategy research team said in a recent note to clients. "Even among investors that are long-term bullish on the potential gains from AI adoption, there appears to be considerable uncertainty about the timeline." Goldman's AI adoption tracker showed that only 5% of U.S. companies are using generative AI to produce goods and services. Many software companies tied to AI posted disappointing guidance during the last earnings seasons that triggered a sizeable sell-off, Goldman noted. Investors should focus on revised sales forecasts of AI-related companies, Goldman said.

Persons: Goldman Sachs, Ryan Hammond, Goldman, Hammond Organizations: Nvidia, Wall, Investors Locations: U.S

☆ Everything you want to know about Janet Yellen’s China visit; Russia, chopsticks, oversupply
▼ + stars: | 2024-04-08 | by ( Nectar Gan | ) edition.cnn.com time to read: +11 min

“China is now simply too large for the rest of the world to absorb this enormous capacity,” Yellen told reporters Monday. US intelligence has warned that China is providing technology and equipment to Russia that is important to Moscow’s war in Ukraine. During her last visit to Beijing, Yellen dramatically boosted business for a Yunnan restaurant chain and its mushroom dish after her delegation was spotted dining there. “As a US official, Yellen needs to know more about China than just its food. Only by understanding China better, can she correct the US worldview and its views of China and China-US relations.”

Persons: Janet Yellen, Yellen, Joe Biden, Xi Jinping, ”, China Nicholas Burns, Pedro Pardo, Li Qiang, ” Yellen, Li, Biden, “, Mao Ning, Xi, CNN’s Marc Stewart, we’ve, Andy Wong, “ Yellen, Tao Tao Organizations: Hong Kong CNN, Russia, China's, Getty, Vice, Foreign Ministry, Treasury Department ., Ukraine, China’s, Ministry, “ Locations: China, Hong Kong, Guangzhou, Beijing, United States, AFP, Washington, Xinhua, Russia, Ukraine, Treasury Department . China, San Fransisco, “, Yunnan, Weibo

☆ Yellen returns to China to tackle economic challenges bedeviling ties with US
▼ + stars: | 2024-04-04 | by ( Laura He | ) edition.cnn.com time to read: +6 min

Hong Kong CNN —Janet Yellen has kicked off her second visit to China as US treasury secretary to continue efforts to further stabilize ties between the world’s two largest economies. “During prior meetings with her Chinese interlocutors, Yellen has largely avoided taking a strong stance on controversial issues,” he said. Trade tensionsBiden administration officials have suggested raising tariffs on Chinese imports to “level” the playing field for trade. Former President Donald Trump has threatened to slap 60% tariffs on imports from China if he is re-elected. The “forces” are often referred to as emerging industries such as EVs, new materials and artificial intelligence.

Persons: Hong Kong CNN — Janet Yellen, Yellen, “, ’ Yellen, Joe Biden, Xi Jinping, Li Qiang, Lifeng, Liu He, Pan Gongsheng, Lan Fo’an, Craig Singleton, ”, Biden, Xi’s, Donald Trump, Rick Waters, ’, Xi, Waters, don’t, ” Singleton Organizations: Hong Kong CNN, People’s Bank of China, Finance, Foundation for Defense of Democracies, Bali . Trade, Biden, Trump, Treasury Department Locations: China, Hong Kong, Georgia, United States, California, Guangzhou, Beijing, Washington, Bali ., Eurasia

The International Energy Agency, a Paris-based intergovernmental group, notes that in 2023 China accounted for around 60% of global electric car sales. Yellen's remarks are to be delivered Wednesday afternoon at Suniva — a solar cell manufacturing facility in Norcross, Ga. It is reopening, in part, because of incentives provided by the Democrats' Inflation Reduction Act, which provides tax incentives for green energy manufacturing. The European Union, also concerned about the potential threat to its auto industry, launched its own investigation into Chinese subsides for electric vehicles last year. “In the past, in industries like steel and aluminum, Chinese government support led to substantial overinvestment and excess capacity that Chinese firms looked to export abroad at depressed prices,” Yellen said.

Persons: Janet Yellen, China's, ” Yellen, ”, Xi Jinping, Xi Organizations: WASHINGTON, —, International Energy Agency, Treasury, Democrats, China, Trade Organization, U.S, Chinese Commerce Ministry, European Union, “, Communist Party Locations: China, Georgia, Paris, Norcross , Ga, U.S, Beijing

☆ US companies aren't feeling great about the economy - but one group is extra pessimistic
▼ + stars: | 2023-10-27 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Small business owners and CFOs both reported feeling downbeat about the US economy in recent surveys. CFOs are far more optimistic about the prospects for their own companies relative to the wider economy. A historically low number of small business owners said it's a good time to expand operations. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementSmall business owners are pessimistic about the state of the US economy.

Persons: it's, —, Ned Davis, CFOs Organizations: Service, Conference Board, Ned Davis Research Small, NDR, Bloomberg, Fed

TAIPEI, Taiwan (AP) — The leaders of Russia and China met Wednesday in Beijing and called for close foreign policy coordination, as concerns grow about possible conflicts with the West over Moscow’s invasion of Ukraine and Beijing’s rising threats against Taiwan. “In the current difficult conditions, close foreign policy coordination is especially required," Putin said in his opening remarks. Just weeks before Russia’s invasion of Ukraine last February, Putin met with Xi in Beijing and the sides signed an agreement pledging a “no-limits” relationship. Beijing’s attempts to present itself as a neutral peace broker in Russia’s war on Ukraine have been widely dismissed by the international community. China, meanwhile, has increased military harassment of self-ruled Taiwan, the island democracy it claims as its own to be united by force if necessary.

Persons: Xi Jinping, Vladimir Putin, Putin, ”, Xi, Beijing’s Organizations: Wednesday, West, Taiwan, Initiative, Ukraine Locations: TAIPEI, Taiwan, Russia, China, Beijing, Ukraine, Asia, “, Moscow

☆ The AI market will probably work out 'extremely well' in the long run, venture capital firm says
▼ + stars: | 2023-09-19 | 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 AI market will probably work out 'extremely well' in the long run, venture capital firm saysAlfred Chuang, founder and general partner at Race Capital, says "my crystal ball would say … tech needs overpricing and overinvestment for it to propel fast enough to satisfy the appetite of the user."

Persons: Alfred Chuang Organizations: Race

☆ Opinion | The American Renaissance Is Already at Hand
▼ + stars: | 2023-09-07 | by ( David Brooks | ) www.nytimes.com time to read: +2 min

A forecast from Bloomberg Economics now projects that the size of the Chinese economy will not successfully surpass the size of the American economy — despite its vastly greater population. But the core problems are endemic to the regime: Centralized authoritarian control is incompatible with a wide-open, innovative, free-flowing modern economy. Open information flow is crucial to any nation; when the state suppresses information unflattering to the regime, then everything is bound to sink into mediocrity. Since late 2021, investment in the construction of manufacturing facilities has more than doubled. Chips, electric vehicles, renewable energy sources and batteries are being manufactured in places like Michigan, Kentucky, Minnesota and Arizona.

Organizations: Bloomberg Economics, . Locations: China, America, Midwest, Michigan , Kentucky, Minnesota, Arizona

☆ CNBC Daily Open: Bitcoin’s still struggling to gain acceptance
▼ + stars: | 2023-09-05 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. China's Shanghai Composite lost 0.72% as the country's service sector logged its slowest expansion in eight months, according to a Caixin survey. Overinvestment in ChinaChina is "overinvested," said Jitania Kandhari, a managing director and deputy chief investment officer at Morgan Stanley. By contrast, India is underinvested, Kandhari said, giving its economy and markets investment opportunities.

Persons: Narendra Modi, China —, Jitania Kandhari, Morgan Stanley, Kandhari, Weizhen Tan Organizations: CNBC, Labor, Shanghai, Indian, BMW, Ford, Mercedes Locations: Miami Beach , Florida, U.S, Asia, Pacific, India, Russia, China, China China, Munich, Germany

☆ Mark Zuckerberg says he is absolutely not abandoning the metaverse as company division loses $4 billion
▼ + stars: | 2023-04-27 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Mark Zuckerberg denied that Meta was pivoting its focus from the metaverse to AI. "We've been focusing on both AI and the Metaverse for years now, and we will continue to focus on both," he said. The division that houses Meta's AR and VR projects posted a $4 billion loss in the first quarter. Meta CEO Mark Zuckerberg says he isn't abandoning the metaverse, even as the division of the company that manages its virtual and augmented reality projects lost $4 billion in the first quarter. "A narrative has developed that we're somehow moving away from focusing on the metaverse vision," Zuckerberg told investors on Wednesday.

☆ Work-Life Balance Is Harder to Find Thanks to Pandemic and Office Mandates
▼ + stars: | 2023-04-06 | by ( Kelli María Korducki | ) www.businessinsider.com time to read: +14 min

The insidious creep of job burnout was inescapable when I spoke with more than a dozen ambitious midcareer women for an article last winter. While work friendships can stifle loneliness, the centrality of a job in American social life does not bode particularly well for Americans' work-life balance. For those who've put all their eggs in the proverbial basket of their job, Koretz said, these times of transition can trigger a kind of identity crisis. The idea is that you just work and work and work and work and work. Workers can also take small steps toward improving their work-life balance by setting aside time each day and each week for nonwork priorities.

☆ This could be Big Oil's last surge
▼ + stars: | 2023-03-19 | by ( Catherine Boudreau | Jacob Zinkula | ) www.businessinsider.com time to read: +12 min

The era of Big Oil could end sooner than its massive profits suggest, analysts told Insider. But the worst-case scenario for the environment — that oil and gas companies reinvest all their extra money to keep growing — isn't happening, Logan said. The role of oil and gas companies in the energy transition is an ongoing debate, analysts told Insider. The UK company cited the need for an "orderly" energy transition. And while Big Oil's finances may begin to show some cracks over the next decade, he doesn't expect them to "suffer financially" for another 25 to 35 years.

☆ ExxonMobil, Chevron's big cash shows cheap gas isn’t coming back
▼ + stars: | 2023-02-01 | by ( Tim Mullaney | ) www.cnbc.com time to read: +6 min

Big oil sees political pushback on buybacksFuel prices at a Chevron gas station in Menlo Park, California, on Thursday, June 9, 2022. In the market, and at the oil companies headquarters, it seems the opinions issued from the White House aren't much of a factor in setting financial priorities. The benchmark now is to spend roughly a third of operating cash flow on capital investment, a third on dividends and a third on stock buybacks. Exxon made $76.8 billion in operating cash flow, invested $18 billion back into the business, spent $14.9 billion on dividends and $15.2 billion in stock purchases, according to its cash flow statement. Oil production is increasing

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