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Stock futures edged lower on Thursday evening with Wall Street poised to end the week with gains in the three major averages. S&P 500 futures dipped 0.1%, while Nasdaq 100 futures were lower by 0.3%. All three major averages are on track for a positive week, led by the Nasdaq Composite's gain of 1.56%. That's a change from last week, when Wall Street's postelection rally appeared to stall. Shares of Gap jumped 15% after the company beat earnings estimates and hiked its full-year sales guidance.
Persons: Wall, Saira Malik Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Nvidia, market's, Intuit Locations: New York City
Donald Trump’s team has construed his victory as a mandate for carrying out what it has described as mass deportations. The constraints on a mass deportation operation are logistical more than legal. So the question is not whether mass deportation will happen. It’s how big Mr. Trump and his administration will go, and how quickly. How far are they willing to bend or break the rules to make their numbers?
Persons: Donald Trump’s, Trump, Stephen Miller, Tom Homan, Trump’s Organizations: Department of Homeland Security
Most Americans are concerned about what may happen to Social Security when its retirement trust fund crosses a projected 2033 depletion date, according to a new Bankrate survey. Nearly three-quarters, 73%, of non-retired adults and 71% retired adults say they worry they won't receive their benefits if the trust fund runs out. That includes 81% of working baby boomers and 82% of Gen Xers who are worried they may not receive their benefits at retirement age if the trust fund is depleted. Social Security relies on trust funds to supplement its monthly benefit payments that currently reach more than 72.5 million beneficiaries, including Supplemental Security Income beneficiaries. Social Security's actuaries project the fund the program relies on to pay retirement benefits will be depleted in 2033.
Persons: Gen Xers, someone's, Mark Hamrick, Trump, Zers Organizations: Security, Bankrate, Finance, Social, actuaries Locations: millennials
But don’t expect a winter wonderland and don’t fall for the headlines and hype. The storm that will bring the snow to the Northeast already brought it to parts of the Midwest. This wet snow will fall overnight and could be heavy at times before it starts to taper off Friday afternoon. Any snow will have to fall heavily in order to accumulate more than an inch or so. Snow will fall across much of central PA over the next 24 to 36 hrs.
Persons: Snow Organizations: CNN, Midwest . Chicago, National Weather Service, State College Locations: Illinois, Indiana, Pennsylvania, New York, Binghamton , New York, Laurel, Philadelphia, New York City, West, Northeast
In the months ahead, Democratic Party officials and operatives will analyze election returns and voting patterns to try to make sense of what happened on Election Day. Like Goldwater after 1964, the Democratic Party can seize defeat to establish a new order — but the era of tinkering around the edges is over. Look no further than solid blue New York: Vice President Kamala Harris had the worst statewide performance for a Democrat since 1988. The contemporary Democratic Party emerged from the “greed is good” era of the 1980s in part by co-opting pieces of the Reagan agenda. President Bill Clinton built a coalition — part working class, part Wall Street — that led Democrats back to the White House without redefining the political system.
Persons: Goldwater, Ronald Reagan’s, Donald Trump didn’t, Kamala Harris, Joe Biden’s, Reagan, Bill Clinton, Organizations: Democratic Party, Democratic, Democrat Locations: York, New York City
"Alex has been exceptional for our game," Gretzky said on CNBC's " Squawk Box " on Thursday. As Washington Capitals star Alex Ovechkin closes in on Wayne Gretzky's all-time goals record, the Great One told CNBC he has nothing but admiration for the player who could soon dethrone him. Thirty-five years later, Ovechkin is closing in on breaking Gretzky's record of 894 goals, with 26 more to go. Gretzky told CNBC that at the time he broke Howe's all-time scoring record, he felt embarrassed to end his idol's milestone. Gretzky played 20 seasons in the National Hockey League for four different teams.
Persons: Gretzky, Alex, Alex Ovechkin, Wayne Gretzky's, dethrone, Ovechkin, Sidney Crosby, Gordie Howe's, Howe's, Gretzky's, Bettman Organizations: CNBC, NHL, Washington Capitals, One, Capitals, National Hockey League, Stanley, YardRink Locations: Wayne, Massachusetts
AdvertisementElon Musk reignited his long-running feud with Jeff Bezos in a X post on Thursday. Musk said Bezos told people that Trump would lose and they should sell their Tesla and SpaceX stock. Elon Musk has taken aim at Jeff Bezos once more, reigniting the war of words between the world's two richest people. In a X post on Thursday, Musk said that Bezos had told people to dump their shares in his companies because Donald Trump was bound to lose the presidential election. This message about Bezos is a way to give himself an excuse to legitimately do so, by saying that 'Bezos started it.'"
Persons: Elon Musk, Jeff Bezos, Musk, Bezos, Trump, Donald Trump, ince, ould, ake Organizations: SpaceX Locations: lon, usk, ehicles,
The potential appointment of Apollo Global Management CEO Marc Rowan would boost the stock and the broader alternative asset management sector, according to TD Cowen. Trump's reelection platform included efforts to deregulate industries, which would facilitate large transactions such as the ones seen in the private equity sector. APO 1D mountain Apollo shares on Thursday Katz also thinks any "key man risk" at Apollo in the event Rowan is appointed to Trump's Cabinet is limited. Likely CEO successors are co-Presidents Jim Zelter and Scott Kleinman, according to Katz. Shares of Apollo have soared 77% year to date.
Persons: Marc Rowan, TD Cowen, Donald Trump's, Rowan, Kevin Warsh, Scott Bessent, Sen, Bill Hagerty, Warsh, Bill Katz, Katz, Jim Zelter, Scott Kleinman Organizations: Apollo Global Management, Federal, Key Square Group, Rowan, Trump, Mar, APO Locations: Wednesday's
This booming period marked by strong economic growth and robust market returns could extend into 2025, according to UBS, which is calling for the S & P 500 to rise as high as 7,000 in its most optimistic, bullish case. "The market and economic developments have led some to term the decade so far as the 'Roaring 20s,' marked by high economic growth, strong market returns, and improving productivity," Mark Haefele, UBS Global Wealth Management chief investment officer, said in a note to clients. .SPX YTD mountain S & P 500 The Wall Street bank set its base case of a 6,600 S & P 500 target for 2025, or about 10% upside from current prices. For its bull case, the equity benchmark could climb to 7,000 by year end 2025, a 16% gain from current levels. The S & P 500 appears set to wrap up a strong 2024 with a bang, thanks to optimism toward President-elect Donald Trump 's market-friendly policies.
Persons: Mark Haefele, Donald Trump, Haefele Organizations: UBS, UBS Global Wealth Management
CNN —A volcano near Iceland’s capital erupted on Wednesday night, becoming the seventh such event in the area since December. The length of the fissure on the volcano, located in Iceland’s Reykjanes Peninsula in the southwest of the country, is estimated to be approximately 3 kilometers (1.9 miles), according to the Icelandic Met Office. A new volcanic eruption that started on the Reykjanes Peninsula in Iceland, Wednesday, Nov.20, 2024. A geothermal power plant and the two hotels at the world-famous Blue Lagoon were evacuated. The Blue Lagoon has been repeatedly forced to close due to volcanic activity over the past year.
Persons: Marco di Marco, Snorri Valsson Organizations: CNN, Icelandic Met Office, AP, Icelandic Tourist Board Locations: Iceland’s, Iceland’s Reykjanes, Iceland, Grindavík, Reykjanes, North America, Europe
CNBC's Jim Cramer on Thursday reiterated his longstanding belief in Nvidia and CEO Jensen Huang, saying that despite the concerns of some on Wall Street, demand for the artificial intelligence behemoth's products isn't slowing down. Nvidia posted earnings Wednesday that comfortably topped estimates. Nvidia has had a meteoric rise, with shares currently up more than 196% year-to-date, and the company has posted large earnings beats quarter after quarter. According to Cramer, supply isn't set to outpace demand. Some of Nvidia's biggest customers, like Microsoft , Meta , Amazon and Tesla will have to keep buying the products, he said.
Persons: CNBC's Jim Cramer, Jensen Huang, Jensen, Cramer Organizations: Nvidia, Nvidia's, Microsoft, Meta
One basis point equals 0.01%. The 10-year Treasury yield fell more than 1 basis point to 4.390%, while the yield on the 2-year Treasury slipped by nearly 2 basis points to 4.291%. The benchmark 10-year Treasury yield dipped on Thursday as investors await a fresh batch of economic data and a flurry of speeches from Federal Reserve policymakers. Existing home sales for October and the Kansas City Fed survey for November are scheduled to follow slightly later in the session. Cleveland Fed President Beth Hammack, Chicago Fed President Austan Goolsbee, Kansas City Fed President Jeff Schmid, Fed Vice Chair for Supervision Michael Barr are all poised to deliver remarks about the U.S. economy on Thursday.
Persons: Donald Trump's, Beth Hammack, Austan Goolsbee, Jeff Schmid, Michael Barr, Michelle Bowman, Samantha Subin, Sophie Kiderlin Organizations: Treasury, Federal Reserve, Philadelphia Fed, Kansas City Fed, Cleveland Fed, Chicago Fed Locations: Russia, Ukraine, Washington, Moscow, Kansas, U.S
Now that she's a CEO, she relies on her experience as a model when building a brand and pitching. My cofounder and I received a lot of pushback when we started Frich. It helps that I really understand our audience because I lived this: I was anxious about money as a teen model. You make your best money when you're really young, and no one teaches you what to do with that money at that age. When we first started Frich, we realized that money needs to be exciting and cool.
Persons: Katrin Kaurov, , Zers, it's, you've, Everyone's, I'm Organizations: Forbes, YouTube Locations: New York
U.S. Attorney for the Eastern District of New York, Breon Peace, speaks during a news conference in Brooklyn, New York, U.S., October 22, 2024. Former New York City police officer Jason Rodriguez pleaded guilty to conspiracy to commit wire fraud related to his role as the chief operating officer of a foreign exchange investment fund, prosecutors said in a release Thursday. Rodriguez, 38, was indicted in a Brooklyn federal court in February after he lied to investors and lost most of the $4.8 million put into his forex investment fund, Technical Trading Team. To date, approximately $3.5 million of those funds have not been paid back to the investors, according to the U.S. Attorney's Office for the Eastern District of New York. "In reality, there were no guardrails, he resigned from the NYPD in disgrace, and he lost most of the money, inflicting substantial harm on his victims."
Persons: Jason Rodriguez, Rodriguez, Breon Pace, Peace Organizations: Attorney, Eastern, of, Former New York, Attorney's Locations: of New York, Brooklyn , New York, U.S, Former New York City, Brooklyn, United States
Nvidia — Shares of the chipmaker dipped about 1% in midday trading, after gyrating earlier in the session. Analysts polled by LSEG had called for earnings of 75 cents per share on $33.16 billion in revenue. Baidu — U.S. shares of the Chinese search engine fell about 5% after Baidu's third-quarter revenue declined by 3% compared to the year-ago period . BJ's Wholesale Club — Shares moved 9% higher after the warehouse club's third-quarter adjusted earnings beat the Street's estimates. The company said it will increase its membership fee and announced plans to repurchase $1 billion shares.
Persons: LSEG, Snowflake, Sridhar Ramaswamy, Merus, Goldman Sachs, — Stocks, Michael Novogratz, MicroStrategy, Miner Mara Holdings, BJ's, PDD, — CNBC's Sean Conlon, Yun Li, Michelle Fox Organizations: Nvidia —, Nvidia, Baidu, Department of Justice, Google, Chrome, Netflix, of America, , Galaxy Digital, Miner, BJ's Wholesale, PDD Holdings
After returning to the site on November 1, Deep Sea Vision — an ocean exploration company based in Charleston, South Carolina, that captured the original sonar image — has identified the object to be a natural rock formation. The hunt for Earhart’s plane continuesThe rock formation was more than 16,000 feet (4,877 meters) underwater. The team sent out the AUV directly above the site in early November, producing a high-resolution image of the rock formation. After the anxious wait, the image surprisingly revealed that the object was a natural rock formation, he said. When Deep Sea Vision first announced the anomaly, Jourdan cautioned against using sonar imagery to identify anything on the seafloor.
Persons: Amelia Earhart, Earhart, Electra, , Tony Romeo, , ” Romeo, Romeo, shouldn’t, Nauticos, David Jourdan, Jourdan, ” Jourdan, ” Amelia Earhart, Fred Noonan, Dorothy Cochrane, Cochrane Organizations: CNN, Lockheed, US Air Force, Vision, Smithsonian National Air and Space Museum Locations: Charleston , South Carolina, Kennebunkport , Maine, Lae, Papua New Guinea, Howland
Employers know that prioritizing employee wellbeing is the right thing to do, but there are also business benefits. Indeed Introduces the 2024 Work Wellbeing 100, ranking the Top Publicly-Traded Companies for Work Wellbeing in the US. Oxford recently analyzed Indeed's work wellbeing dataset and highlighted a strong correlation between company wellbeing and business performance. Indeed's 2024 Global Work Wellbeing Report findings revealed that higher levels of employee wellbeing are associated with improved firm valuation, return on assets, and gross profits. Indeed reinforced the business case for work wellbeing by launching the Work Wellbeing 100, an index ranking the top 100 publicly traded companies based on their Indeed Work Wellbeing Score.
Persons: Russell, — LaFawn Davis, Davis Organizations: Oxford, Nasdaq, Forrester Research, Insider Studios Locations: Oxford, millennials
Bloomberg | Bloomberg | Getty ImagesFears are mounting that the U.S. could soon experience its own version of Britain's "mini-budget" crisis, with bond strategists warning that Donald Trump's return to the White House brings with it the specter of currency volatility and surging bond yields. The former president's economic agenda has ratcheted up concerns about a surge in consumer prices, which strategists say could spark significant shifts in bond yields and investor behavior. They warn a scenario that mirrors Britain's mini-budget crisis of 2022 is not out of the question. watch nowBritain's mini-budget crisis refers to a tumultuous period under former Prime Minister Liz Truss and ex-Finance Minister Kwasi Kwarteng. Bond yields tend to rise when market participants expect higher consumer prices or a growing budget deficit.
Persons: Donald Trump, Donald Trump's, Trump, Remtulla, Liz Truss, Kwasi Kwarteng, Kwarteng, Althea Spinozzi, Trump's, Spinozzi, Angela Weiss, Paul Ashworth, Ashworth, Thierry Wizman, likelier, Wizman Organizations: Economic, of New, Bloomberg, Getty, EFG, CNBC, U.S ., Finance, U.S, Bank of England, Saxo Bank, White, Treasury, Traders, New York Stock Exchange, AFP, Capital Economics, Macquarie Group Locations: of New York, New York, U.S, Foreign, Treasurys, Treasuries, New York City, America
I moved to Italy in my 20s after a summer study abroad in Rome during my senior year of college. The most shocking cultural differences are the little things in daily lifeA big part of the "la dolce vita" concept is that life moves slower. Italy isn't as "online" as the US, so you're better off going to a place in person rather than trying to call or email. AdvertisementThe traditional Italian home, which is pretty tiny, isn't designed for people to spend a lot of time there. Seeing the way Italians live, though, has left me in awe of the typical American home, decorated to personal taste with private green space.
Persons: I'm, it's, I've Organizations: KFC, Google Locations: Italy, Rome, United States, America, , Missouri
Dollar stores companies were some best performing stocks in the S&P 500 during the Great Recession, said Piper Sandler managing director Peter Keith. Shares of Dollar Tree — which owns its namesake brand and Family Dollar — and Dollar General have both fallen roughly 50% this year. Lower income Americans, who comprise about 60% of Dollar General sales, are under more pressure to stretch their dollars in the face of high inflation. In its fiscal 2024 second quarter earnings call, Dollar General said those customers are also more reliant on online storefronts, which dollar stores have had less success in rolling out. Both Dollar Tree and Dollar General have also faced numerous worker safety violations over the past decade.
Persons: Piper Sandler, Peter Keith, Keith, Melissa Repko Organizations: Walmart, CNBC
Now 77, he's facing a life sentence in a national security trial in Hong Kong. I would just relay to him what happened in Hong Kong when he asked me," Lai said in court, per Reuters. This mass sentencing of Hong Kong's activists was also based on charges under Hong Kong's national security law. Related storiesThe imposition of the national security law marked the effective end of Hong Kong's political autonomy from China. "Above all else, the implementation rules have the potential to radically criminalize online speech in Hong Kong," Woodhams said.
Persons: Jimmy Lai, Kong's, Lai, Hong Kong's, Mike Pence Organizations: Hong Kong, Apple, China, White House, Democracy Locations: Hong, Hong Kong, China, Northern California
As more rain falls, the risk for dangerous flash flooding, debris flows and landslides will increase as the ground becomes too saturated to hold and streams and rivers continue to rise and overflow. What can make atmospheric rivers difficult to forecast is that they are narrow bands of moisture, and they hold dramatically less moisture around their edges than they do in the center. So a specific location could see a huge variety in the potential forecast in the days and even hours leading up to an event. For this storm, that means a place south of the Golden Gate Bridge, like San Francisco, could end up seeing only an inch of rainfall or more than six inches by Friday. Here’s a look at what’s happened so far, what the region may face next and why it’s so hard to be sure.
Persons: it’s Locations: Northern California, West Coast, San Francisco
Two catalysts may send shares of Netflix even higher in the months ahead, according to Bank of America. Analyst Jessica Reif Ehrlich reiterated her buy rating on Netflix and hiked her price target by $200 to $1,000, implying more than 13% upside from Wednesday's close. "Live and advertising are complementary growth drivers, as more live programming drives additional high value, premium ad inventory," Reif Ehrlich added. "Netflix's ability to monetize this premium live inventory will be key to making advertising a multi-year growth driver." Still, Netflix has an average price target of $787, implying about 11% downside from Wednesday's close.
Persons: Jessica Reif Ehrlich, Reif Ehrlich, Mike Tyson, Jake Paul –, Beyoncé –, ann Organizations: Netflix, Bank of America, Broadcasting
AdvertisementOpenAI shifted away from being a nonprofit to attract more capital, says CEO Sam Altman. OpenAI needed more funding to scale its AI research efforts, he said in a recent interview. OpenAI's $6.6 billion funding round came with some strings attached: it has 2 years to become a for-profit entity. Altman said that scaling its AI models was a major factor in OpenAI's eventual move toward a profit system. Scaling AI models and providing the data centers and chips necessary to train them to be smarter than the previous interaction is highly expensive.
Persons: OpenAI, Sam Altman, Elon Musk, Altman, OpenAI's, Organizations: Harvard Business School, Harvard
Gautam Adani, chairman of Adani Group, following a Bloomberg Television interview at the company's headquarters in Ahmedabad, Gujarat, India, on Saturday, May 25, 2024. The head of a $25 billion Indian energy company, the former CEO of a New York-listed energy firm, and one of Asia's wealthiest men were set to meet in New Delhi to discuss business. To prepare for the meeting, Vneet Jaain, chief executive of $25 billion Adani Green Energy , photographed a document on his cellphone. There are also concerns about whether Adani companies will be able to raise debt in the future in U.S. markets. Earlier this year, the stock market regulator's chair, Madhabi Buch, was accused of having a conflict of interest while investigating Adani group companies, according to short-seller Hindenburg.
Persons: Gautam Adani, Sumit Dayal, Vneet Jaain, Gautam, Jaain, James Dennehy, Adani, Adani Green, What's, firm's, Matt Orton, Raymond James, CNBC's Tanvir Gill, Orton, it's, India's, Rahul Gandhi, Madhabi Organizations: Adani, Bloomberg, Getty, Green Energy, Eastern, of, NYSE, U.S, Securities Exchange Commission, New York Stock Exchange, SEC, U.S . Department of Justice, Energy, Adani Enterprises, GQG Partners, firm's Sydney, Citi, State Bank of India, DBS Group, DBS, Regulators, Federal Bureau of Investigations, Central Bureau of Investigations, Securities and Exchange Board of India, CNBC Locations: Ahmedabad, Gujarat, India, New York, New Delhi, of New York, U.S, Foreign, Singapore, Madhabi Buch
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