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Gold bar bullions ingot, selective focus, crisis safe haven for investment or reserve for country economics. Gold prices dropped over 1% on Monday, weighed down by profit-taking after a five-session rally, with further pressure from the announcement of fund manager Scott Bessent as the next U.S. Treasury Secretary. Spot gold fell 1.52% to $2,671.29 per ounce as of 0501 GMT, while U.S. gold futures shed 1.5% to $2,672.90. Gold's five-day rally pauses due to some profit-taking and Trump's pick of Scott Bessent as U.S. Treasury Secretary, hinting at tempered use of tariffs and easing U.S.-China trade uncertainty, said IG market strategist Yeap Jun Rong. Less dovish U.S. policy signals and potential inflation surprises could support a December rate hold, slowing rate cut prospects can be seen weighing on gold prices, Rong said.
Persons: Scott Bessent, Yeap Jun Rong, Donald Trump, Rong Organizations: Treasury, Federal, Traders Locations: China, U.S, Israel, Beirut, Tel Aviv
AdvertisementDatabricks CEO Ali Ghodsi isn't the biggest fan of interviews and "gotcha questions." Ghodsi prefers to analyze candidates by testing them with a real challenge within the company. "I don't believe in interviews because I think some people interview well, and they might not be good at all," he said. "And some people interview really poorly, but they might be excellent." AdvertisementGhodsi is not the only executive who finds standard interview questions to be a lacking litmus test for potential hires.
Persons: Ali Ghodsi, Ghodsi, JP Morgan, Carla Hassan, Ali Ghodsi doesn't, Logan Bartlett, Jensen Huang, Huang Organizations: Nvidia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrump's tariff plans could make tackling U.S. inflation harder, says ANZ chief economistRichard Yetsenga, group chief economist at ANZ, discusses the potential impact of U.S. President-elect Donald Trump's economic plans and his choice of Scott Bessent as Treasury secretary.
Persons: Richard Yetsenga, Donald Trump's, Scott Bessent Organizations: ANZ
Here are Monday's biggest calls on Wall Street: Bernstein reiterates MicroStrategy as outperform The firm raised its price target on the stock to $600 per share from $290. " Morgan Stanley upgrades Banco Santander to overweight from equal weight The firm said the bank has a "resilient regional footprint." Morgan Stanley upgrades Robinhood to overweight from equal weight The firm said Robinhood is a Trump election beneficiary. Morgan Stanley upgrades KinderCare to overweight from equal weight Morgan Stanley said shares are compelling at current levels for the daycare company. Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's survey checks "reinforce [the] multi-year iPhone upgrade thesis."
Persons: Bernstein, MicroStrategy, Morgan Stanley, Oppenheimer, Robinhood, Trump, HOOD, it's, Telsey, Apple, Goldman Sachs, Berkley, it's bullish, Tesla, TD Cowen, D.A, Davidson, Rosenblatt, Wedbush, Palantir, PLTR, Wolfe, Jones Lang Lasalle Organizations: Banco Santander, Caixabank, ING, Citi, U.S, Bancorp, UBS, Arm Holdings, BMO, Apple Intelligence, CVS, Bank of America, Shoals Technologies, Procter, Gamble, China, China EV, Nvidia, FedEx Locations: Santander, China
The S & P 500's rise to fresh heights in the new year will not be in a straight line, according to RBC Capital Markets. Strategist Lori Calvasina issued a year-end 2025 target for the broad market index of 6,600. The S & P 500 has rallied 3.2% since Donald Trump secured a second presidential term, raising expectations of lower taxes and deregulation. To be sure, Calvasina thinks there will be 5%-10% correction in the near term before equities resume their march to all-time highs. Last week, Goldman Sachs set a 6,500 target for the S & P 500, while BMO issued a forecast for the benchmark index to surge all the way to 6,700 .
Persons: Lori Calvasina, Donald Trump, Calvasina, Goldman Sachs, Bernstein Organizations: RBC Capital Markets, Health, BMO Locations: Friday's, Bitcoin
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailQlik CEO: AI can't reach its full potential without strong foundational platformsMike Capone, CEO of Qlik, discusses the shift to AI for maximizing efficiency and the essential foundational platforms needed for success
Persons: Mike Capone
CNBC's Jim Cramer on Monday reviewed investors' reaction to President-elect Donald Trump's latest cabinet pick, hedge fund manager Scott Bessent. His takeaway is that Wall Street believes the potential Treasury secretary will be a prudent force in the administration. "What matters is that this Treasury secretary designate is a serious person, not unlike Steven Mnuchin before him," he said "And those who believed Trump couldn't get a dollop of rigor in the cabinet — well, they've been proven wrong." Cramer also pointed out that Treasury yields fell, with the 10-year sliding to about 4.28% when investors were worried about it hitting 4.5% a few days ago. "That's where Scott Bessent, the Treasury Secretary designate, comes from, so the fence sitters and skeptics are jumping on the Trump bandwagon as if the president elect said, 'higher stock prices and lower taxes for all.'"
Persons: CNBC's Jim Cramer, Donald Trump's, Scott Bessent, Steven Mnuchin, Trump, they've, Cramer, George Soros, Bessent, Shinzo Abe, That's Organizations: Dow Jones Industrial, Treasury, Trump
North Korea is providing crucial support to Russia in Ukraine, and is getting favors in return. China is increasingly concerned about the alliance between Kim Jong Un's North Korea and Vladimir Putin's Russia, according to Kurt Campbell, the US deputy secretary of state. AdvertisementMeanwhile, Russia is providing North Korea with economic and diplomatic support. "But the Chinese are waiting for an opportunity where North Korea, Russia, and China can come stronger together, and I think North Korea sending the troops to Russia is a testimony to that." The growing alliance between North Korea and Russia, he said, is a step toward that.
Persons: Kurt Campbell, Kim Jong, Vladimir Putin's, Putin, Campbell, Donald Trump, Ali Wyne, Jagannath Panda Organizations: Center for Strategic, International Studies, Guardian, Russia, Crisis, North, Stockholm Center, South, Pacific Affairs Locations: China, East Asia, North Korea, Russia, Ukraine, Vladimir Putin's Russia, Kursk, DPRK, Pyongyang, Moscow, Beijing, North, South Korea, Korea
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Best Buy shares rose roughly 4.5% on Monday ahead of the company's fiscal 2025 third-quarter earnings before Tuesday's opening bell. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m.
Persons: Jim Cramer, Stocks, Donald Trump's, Scott Bessent, Bessent, Jim, Bristol Myers, Eli Lilly, RJK, Jim Cramer's Organizations: CNBC, Dow Jones, Nasdaq, Bristol Myers Squibb, FDA, JPMorgan, Club, HHS, Research, Arm Holdings
Conventional wisdom holds that Musk — the world’s richest man and key Donald Trump ally — and his friends are just joking. But Musk’s posts are adding to the anxiety that MSNBC staffers are feeling about the reelection of Donald Trump and the recently announced spinoff of Comcast’s cable channels. I learned that more than one benevolent billionaire with liberal bonafides has already reached out to acquaintances at MSNBC to express interest in buying the cable channel. Instead, he is moving MSNBC and a half dozen other cable channels into “SpinCo,” a pure-play cable programming company. I have sensed quite a bit of enthusiasm at MSNBC about “SpinCo,” actually, because the new structure should allow for more investment into MSNBC, CNBC and the other brands.
Persons: CNN — Elon Musk, Donald Trump, , bonafides, Brian Roberts, Benjamin Swinburne, Morgan Stanley, SpinCo, , , Donald Trump , Jr, Joe Rogan, Rachel Maddow’s, Musk, Maddow, Mark Cuban, Trump, Matt Gaetz, Viktor Orbán’s “, Ian Bassin, ” Bassin, Gábor, Kamala Harris, Cuban Organizations: CNN, MSNBC, Twitter, Comcast, , CNBC, Trump Jr, Former Florida, ” CNN, , Democracy, Politico Magazine, Fox Locations: Hungary
Gabbard and another contentious Trump pick — Pete Hegseth, who has been tapped to lead the Defense Department — came under sharpened scrutiny Sunday as the spotlight shifted from Matt Gaetz, Trump’s toppled choice to be attorney general. Trump’s pick of Hegseth is also facing uncertainty after the release last week of a 2017 police report detailing an alleged sexual assault in California. But the withdrawal of Gaetz — who was already widely disliked in Congress — may leave senators feeling they owe the president-elect on his other highly controversial choices. Trump’s new selection for attorney general, Pam Bondi, is meanwhile being welcomed by many Republicans, suggesting she’ll have an easier path to confirmation than Gaetz. But that would still leave the question of who is acceptable to Trump while being confirmable in the Senate.
Persons: Donald Trump’s, Tulsi Gabbard, Pete Hegseth, Defense Department —, Matt Gaetz, Trump’s, ” Democratic Sen, Tammy Duckworth, Bashar al, Assad, she’s, Republican Sen, Markwayne Mullin, Dana Bash, Duckworth, Gaetz —, Pam Bondi, general’s, , Russell Vought, Trump, Tesla, Elon Musk, Vivek Ramaswamy, Scott Bessent, Howard Lutnick, Cantor Fitzgerald, They’ll, Mike Waltz, ” Trump, Vladimir Putin’s, , he’s, Julian Assange, Edward Snowden, Gabbard, ” Sen, Adam Schiff of California, Gabbard’s, Mullin, , ” Missouri Sen, Eric Schmitt, Tennessee Sen, Bill Hagerty, she’d, Hagerty, ” Oklahoma’s, James Lankford, Bashar, Lankford, Bondi, We’re, ’ ” Lankford, Christopher Wray, Kash Patel, Patel, Trump’s MAGA, CNN’s Kaitlan Collins, ” Patel Organizations: CNN, Trump, Defense Department, CNN’s, Union, ” Democratic, Republican, Fox News, Justice Department, Management, GOP, Treasury, “ Fox, Florida Republican, Electoral College, Senate, Democratic, US, Transportation, Trump’s “, House Intelligence, Press, Oklahoma Republican, Army, , NBC, ABC, , intel, CNN Bondi, of Justice, FBI, Fox Business, Department of Justice Locations: CNN’s “ State, The Illinois, Washington, California, Florida, Ukraine, Moscow, Russia, Hawaii, Syria, Russian, Duckworth, “ State, Oklahoma and Missouri, ” Missouri, Japan, United States, Lago
The sustainability theme faces an uncertain future under President-elect Donald Trump, but Morgan Stanley has named a number stocks with major upside. Here are two of Morgan Stanley's top stocks with over 60% upside potential: EDP Renovaveis The investment bank is bullish on EDP Renovaveis and has a target price of 18 euros ($18.68), giving it nearly 66% upside potential. RWE Also on Morgan Stanley's list is German electric utility company RWE , which it describes as a "global leader in renewables." The bank's analyst Rob Pulleyn sees RWE as "oversold on a combination of falling power prices earlier in 2024 and fears around renewables value creation." Morgan Stanley has a target price of 50 euros ($169.50) on the Frankfurt-listed stock, giving it almost 60% potential upside.
Persons: Donald Trump, Morgan Stanley, Morgan, Arthur Sitbon, Sitbon, Rob Pulleyn, — CNBC's Michael Bloom Organizations: Big Tech, Frankfurt Stock Exchange Locations: U.S, Europe, Lisbon, Portugal, Frankfurt
As investors position their portfolios for 2025, wealth managers are advocating for a diversified approach with selective bets on undervalued sectors. CNBC Pro spoke to Ollie Clark, deputy head of research at WH Ireland, and Mark Preskett, senior portfolio manager at Morningstar Wealth, about how investors with roughly $500,000 could look to allocate their portfolio. Clark expects the growth in artificial intelligence to lead to another year of bumper returns. Investors with portfolios already geared toward a traditional 60/40 stock-bond portfolio mix can expect some, if limited, relief in the future, according to Clark. The Morningstar Wealth portfolio manager said investors could gain exposure to such companies through the Franklin FTSE South Korea ETF .
Persons: Ollie Clark, Mark Preskett, Clark, Donald Trump, Morningstar, Preskett, WH Ireland's Clark Organizations: CNBC, WH Ireland, Morningstar Wealth, Clark, Federal Reserve, Trump, South, SK Hynix, Samsung, Franklin FTSE, Metals Mining, HG Locations: U.S, South Korea, Franklin FTSE South Korea
AdvertisementLate YouTube CEO Susan Wojcicki wrote a blog post weeks before her death about her cancer diagnosis. She was diagnosed in late 2022, with non-small cell lung cancer, the most common form of lung cancer. Women, whose highest cause of cancer death is lung cancer (as opposed to breast cancer) might also be unaware of the risk factors. Lung cancer research is underfundedSinghi said Wojcicki's blog post is an important rallying cry. It's "wild" to him that lung cancer is so under-researched, given that it's also the biggest cause of cancer death worldwide.
Persons: Susan Wojcicki, Wojcicki, Katie Williams, Dennis Troper, Larry Page, Sergey Brin, Eric Singhi, Singhi, Lung, it's Organizations: YouTube, Lung Cancer, Cancer, Environmental Defense Fund, American Lung Association
There's one key reason the U.S. stock market rallied after this month's presidential election, and it wasn't necessarily because of the outcome, according to Dan Clifton of Strategas. "What we saw was that the market was pricing in a 50-50 election. [Investors] didn't know who was going to win," Clifton, the firm's head of Washington policy research, told CNBC's Dominic Chu in this special Pro Talks discussion available to all readers. Instead, "we had it very clear … we knew [President-elect Donald Trump] was going to win," he said. (Pro subscribers can watch the full interview here .)
Persons: Dan Clifton, Clifton, CNBC's Dominic Chu, Donald Trump, Trump, gridlock — Organizations: CNBC, Republicans, Senate, CNBC Pro Locations: Strategas, Washington
Rumble , a video platform aimed at conservatives, said Monday evening that it will begin allocating a portion of its excess cash reserves to bitcoin and making purchases of up to $20 million in the cryptocurrency. "We believe that the world is still in the early stages of the adoption of bitcoin," Rumble chairman and CEO Chris Pavlovski said in a statement Monday. The move puts Rumble in the same company as MicroStrategy, which began employing an aggressive bitcoin-buying strategy in 2020. Rumble is viewed as a play linked to Donald Trump's return to the White House given its popularity among conservatives. MicroStrategy chairman and bitcoin evangelist Michael Saylor said last week on an X Spaces event that he plans to pitch the board of Microsoft in December on his bitcoin treasury strategy.
Persons: Chris Pavlovski, MicroStrategy's, Donald Trump's, Cantor Fitzgerald, Howard Lutnick, Trump, Lutnick, Bitcoin, Michael Saylor, Sen, Cynthia Lummis Organizations: Semler, Acurx Pharmaceuticals, YouTube, . Commerce, Microsoft Locations: Wyoming
In one instance he requested as much as $100,000 per month in exchange for his services, according to sources familiar with the matter. As of Monday afternoon, it does not appear the transition team will heed that recommendation. “I am honored to work for President Trump and with his team,” Epshteyn said in a statement to CNN. Trump’s legal team was investigating several other similar alleged incidents, according to sources familiar with the situation. “Boris is a Trump original—loyal and effective from the very beginning,” a Trump transition official told CNN.
Persons: Donald Trump, Boris Epshteyn, Trump, Epshteyn, , ” Epshteyn, , elect’s, Boris, ” Trump, Steven Cheung, Scott Bessent, Bessent, Jonathan Drake, Susie Wiles, you’re, , “ He’s, “ Boris, President Trump, Matt Gaetz, Donald Trump's, Nathan Howard, Matt Gaetz’s, Gaetz, Elon Musk, Brandon Bell Organizations: CNN, Trump, Trump Make, Mar, Reuters, White, Gaetz, Department of Justice, Florida Rep, SpaceX, Georgetown Advisory Locations: Lago, Palm Beach , Florida, Epshteyn, Asheville , North Carolina, Washington, Washington ,, Florida, Brownsville , Texas, Georgetown, New York, Georgia, Arizona
Warren Buffett surprised shareholders on Monday with a near-1,500-word letter alongside his usual Thanksgiving gift to four of his family's foundations. The famed investor and Berkshire Hathaway CEO said he would shortly convert 1,600 of his Class A shares into 2.4 million Class B shares, worth about $1.2 billion. Buffett picked more trustees to share his wealthIn his unexpected missive to Berkshire shareholders, Buffett said the gifts would reduce his personal stockpile to 206,363 A shares, worth $149 billion. Buffett said his late wife's estate was worth about $3 billion, and 96% of that went into the pair's foundation. They are also somewhat younger than my children," Buffett said, adding those individuals are "on the waitlist" and he hoped his children disbursed all his assets.
Persons: Warren Buffett, Buffett, Elon Musk, Susan Thompson Buffett, Susan Thompson Buffett Foundation —, , Howard G, He's, — Howard, Susie, Peter —, curt, — Buffett, Bertie, Morgan, Rockefeller, didn't, they're Organizations: Berkshire Hathaway, Susan Thompson Buffett Foundation, Sherwood Foundation, Buffett Foundation, NoVo Foundation, Oracle, Elon, Bloomberg, Berkshire, Ford, Carnegie Locations: Berkshire, Omaha
It grossed $164 million, the biggest opening weekend for a film based on a Broadway show. Here's all the records "Wicked" broke and how it compares to other blockbuster musicals. "Wicked" broke three records topping the box office this weekend with $164 million in ticket sales and surpassing its blockbuster rival "Gladiator II." "Wicked" broke the record for the biggest opening weekend for a film based on a Broadway adaptation domestically and globally. Walt Disney StudiosWith "Moana 2" premiering this week, "Wicked" has a new competitor at the box office going into Thanksgiving weekend.
Persons: Disney, Rob Mitchell, Mia, Mitchell, Ariana Grande's, Nielsen, Moana, Paul Dergarabedian Organizations: cinema's, Walt Disney Studios, Gower, Analytics, Disney, Office MoJo
Why Barclays is raising its 2025 S&P target
  + stars: | 2024-11-25 | 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 EmailWhy Barclays is raising its 2025 S&P targetVenu Krishna, Barclays head of U.S. equity strategy, joins CNBC's 'Money Movers' to discuss his outlook on the markets heading into 2025, potential headwinds for the markets next year, and more.
Persons: Venu Krishna Organizations: Barclays
And some people are selling courses for $220 on how to make your own lucrative AI adult creator. The articles said a crop of new Instagram influencers had amassed large followings and even secured brand deals. Some of these AI influencers, like Lil Miquela, are a sort of artsy commentary on the nature of influencing or something conceptually interesting. AdvertisementOne of the most popular AI influencers had a link in her bio to a profile on Fanvue, an OnlyFans competitor. One person is selling a course for $220 on how to make money with AI adult influencers.
Persons: Fanvue, influencers, Lil Miquela, , Insider's Marta Biino, I'm Organizations: Media Locations: Fanvue
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBanking sector 'doing a bit better than people believe,' strategist saysNick Nelson, head of global equities strategy at Absolute Strategy, discusses the outlook in the European banking sector including potential mergers.
Persons: Nick Nelson Organizations: Banking
AdvertisementApple, which avoided the ad business for years, might finally be getting serious about it. You can see how Google strategists are gaming out Apple's ad ambitions in a newly surfaced document. So, how big could Apple's ad business get? Apple's current ad business is mostly confined to selling ads on its App Store search results page. The rest of "Operation Black Walnut" is useful for anyone trying to imagine what an Apple ad business could look like if Apple decides to build one.
Persons: Apple, Amit P, Mehta, Apple hasn't, Jason Kint Organizations: Apple, Google, TAC
“Although lung cancer overall is decreasing because of declines in tobacco use, lung cancer among people who have never smoked has been rising significantly,” Wojcicki wrote in a YouTube blog that was posted Monday. A trend has emerged in the United States of more young and middle-age women being diagnosed with lung cancer at higher rates than men. 1 risk factor for lung cancer, many of these young women being diagnosed have never smoked. Although it remains unclear what exactly is driving this rise in lung cancer among young women, Yu has some ideas. Last year, US representatives introduced the Women and Lung Cancer Research and Preventative Services Act, which aims to commission more lung cancer research and would require the US Department of Health and Human Services to conduct an interagency review of the status of lung cancer in women, including identifying new opportunities for screening, diagnosis and treatment.
Persons: Susan Wojcicki, ” Wojcicki, , , ” Mundin, , ‘ You’re, Jhalene Mundin, Helena Yu, Kara, Yu, I’m, ” Kara, “ I’m, ” Yu, Mundin, Alexander Drilon, ” Drilon, Drilon, Lung, , it’s, Dr, Sanjay Gupta Organizations: CNN, YouTube, Memorial Sloan Kettering Cancer Center, Chicago Marathon, , Lung Cancer Research, US Department of Health, Human Services, National Institutes, CNN Health, American Cancer Society, US Preventive Services Task Force Locations: , United States, New Jersey, East, Taiwan
Traders work on the floor of the New York Stock Exchange during afternoon trading on Aug. 2, 2024. Stock futures edged higher in overnight trading Monday, after the Dow Jones Industrial Average closed at a new record. Futures tied to the Dow added 30 points, or 0.1%, while S&P 500 futures and Nasdaq 100 futures rose 0.1% and 0.2%, respectively. The 30-stock Dow popped more than 440 points, or about 1%, to a new record close during regular trading. The Russell 2000 hit a new intraday high — its first record since 2021 — as investors piled into small caps.
Persons: Kohl's, Stocks, Donald Trump's, Dow, Russell, Scott Bessent, NewEdge’s Cameron Dawson, CNBC's Organizations: New York Stock Exchange, Dow Jones, Dow, Nasdaq, President, Trump, Key Square, Treasury Locations: U.S
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