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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed will be data oriented even during a presidential election year, says PIMCO's Libby CantrillLibby Cantrill, PIMCO head to U.S. public policy, joins 'Squawk Box' to discuss the history of the Federal Reserve's policy actions during a presidential election year, the state of the 2024 race, and more.
Persons: PIMCO's Libby Cantrill Libby Cantrill
Is Tesla's Cybertruck the new status car?
  + stars: | 2024-03-01 | by ( Grace Kay | Madeline Berg | ) www.businessinsider.com   time to read: +8 min
Tesla's Cybertruck isn't the kind of car that goes unnoticed. The Cybertruck isn't your average pickupMusk has been hyping up the Cybertruck since it was announced in 2019. AdvertisementFrom the start, it's been clear the Cybertruck isn't geared toward your traditional pickup truck market. But it's not exactly your typical luxury status car, eitherWhile the Cybertruck isn't a traditional pickup, it's not exactly a luxury car. "The finance geeks are just, they're beside themselves of how much they admire" Musk, Chesterfield said.
Persons: Tesla's Cybertruck, Kim Kardashian, Pharrell Williams, Jay, Hayley, Justin Beiber, Wiz Khalifa, Ivan Drury, Edmunds, it's, Tesla, Elon, Winston Chesterfield, Barton, It's, Chesterfield, it's Tesla's, hasn't, Ford, Jim Farley, Brian Moody, Mercedes, Ben Affleck, Cameron Diaz, Will Smith, Oprah Winfrey, Morgan Freeman, Steven Spielberg, Drury, Musk, it'll, Moody, Kyle Conner Organizations: Business, Ford, Royce, Twitter, YouTube Locations: Instagram, London
"You want to be able to embrace the sell-off and say, 'OK, it's going to get me my price,'" Jim said. During these declines, Jim said to focus on a stock's price and pick a level to start buying. Let the other people give you your price," Jim said. "If you just wake up one morning and say, 'Listen, I can't take it anymore,' that's going to be a bad buy," Jim said. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Jim Cramer, Jeff Marks, Here's, — Emanuel, Jim, Peter, Jeff, Wells, — Ben, they'd, destocking, Seth, we've, it's, hasn't, Eaton, — David, — Kyle, you've, It's, Jim Cramer's Organizations: Humana, DuPont, Eaton Corp, Palo Alto Networks, Enphase Energy, CNBC Locations: Wells Fargo, Eaton
Opinion: Mitch McConnell’s unconditional surrender
  + stars: | 2024-02-29 | by ( Julian Zelizer | ) edition.cnn.com   time to read: +9 min
CNN —Mitch McConnell has bowed to political reality and announced that he is relinquishing his role as leader of Senate Republicans. (Chao served as transportation secretary under former President Donald Trump, before quitting the post following the January 6, 2021 attack on the US Capitol.) The anti-Trump coalition within the Republican Party is small and hanging on by a thread, and there is little chance of that changing in the short term. Now, one of Haley’s most generous benefactors, the conservative political action committee Americans for Prosperity, funded by the Koch network, has withdrawn its funds. And now, like other Trump opponents, Romney finds himself heading for the exit at the end of his current term.
Persons: Julian Zelizer, Mitch McConnell, McConnell, Elaine Chao, Chao, Donald Trump, , It’s, he’s, invectives, MAGA, Trump, Merrick Garland, Barack Obama’s, — McConnell, SCOTUS, Roe, Wade, Dobbs, Lindsey Graham, Sen, Dick Durbin, , that’s, Gingrich’s, Nikki Haley, Haley, couldn’t, Koch, Mitt Romney, Romney, convicting Trump, Trump’s, Romney’s Organizations: CNN, Princeton University, The New York Times, America, Republicans, Julian Zelizer CNN, Trump, Ukraine, GOP, Republican Party, Republican, NATO, Tea Party, MAGA, UN, Prosperity, Old Party Locations: Washington, life’s, Ukraine, Israel, Taiwan, Kentucky, South Carolina, Utah
The S & P 500 might seem expensive at the moment, but this shouldn't spook investors, according to Bank of America. These days, the S & P 500 is higher quality and has lower earnings volatility than prior decades, Subramanian pointed out in a Wednesday note to clients. .SPX 1Y mountain S & P 500 performance. "But at a basic level, we question the validity of comparing an index to its younger selves, especially today's S & P 500." "We're still in this wall of negativity, this wall of worry," Subramanian said on CNBC on Wednesday.
Persons: Savita Subramanian, Subramanian, We're Organizations: Bank of America, CNBC
Apple reportedly cancels plans to build a car
  + stars: | 2024-02-27 | by ( Kif Leswing | ) www.cnbc.com   time to read: +1 min
Apple will wind down its team working on electric cars, called Special Projects Group, according to Bloomberg. The news signals that Apple will cease its secretive effort to build a car to rival Tesla . The program employed thousands of employees but never fit with Apple's core business of electronics and online services, and raised questions about what companies Apple would tap to manufacture a car. Reports of Apple's ambition to build a car first surfaced in 2014 after the company recruited automotive engineers and other talent from car companies. Some Apple employees in the company's car division may move to a generative artificial intelligence team, according to Bloomberg.
Persons: Tim Cook, Tesla Organizations: Apple, Formula One United, Prix Circuit, Bloomberg, San Francisco Bay Area, CNBC PRO Locations: Formula One United States, Americas, Austin , Texas, San Francisco Bay
Olivia Rodrigo shot to pop stardom pretty much overnight: Her first single, “Drivers License,” rocketed to No. 1 in January 2021 while most of the world was still in coronavirus lockdown, making her the youngest artist to debut atop Billboard’s Hot 100 chart. In April of the following year, she finally brought her songs to life onstage with her punky Sour Tour, which played theaters, though she could have easily sold out arenas. Now she has done just that: Her tour supporting her second album, the cathartic, rock-oriented LP “Guts,” kicked off last Friday night at Acrisure Arena in Palm Desert, Calif., with a performance “advertising the power of girlhood,” The Times pop music critic Jon Caramanica wrote in his review. The venue, and its parking lot, was filled with young women ready to receive the message.
Persons: Olivia Rodrigo, rocketed, , Jon Caramanica Organizations: Acrisure Locations: Palm Desert, Calif
The bank increased its price target for Nvidia to $820 from $575 in a Feb. 22 note. TD Cowen said in a Feb. 21 note that the company is likely to maintain strong data center growth in the coming years. It raised its price target for Nvidia from $800 to $925. Luria only has a neutral rating for Nvidia, giving it a $410 price target — implying a 47% downside. Bottomline: According to FactSet, analysts covering Nvidia gave it a 93% buy rating, with an average price target of $850.97, implying upside of 8.4%.
Persons: Jeff Pu, CNBC's, TD Cowen, BofA, Gil Luria, D.A, Davidson, Luria, — CNBC's Michael Bloom Organizations: Nvidia, Citi, Haitong, Apple, NVIDIA, Microsoft, Google, AMD, Intel Locations: BofA
Elena Perova | Istock | Getty ImagesJust ahead of the holiday season, Walmart had encouraging news for inflation-weary shoppers: Prices on food and other staples were falling instead of rising. But the retail giant backpedaled this week, saying higher prices on many grocery items and household staples like paper goods have stuck. Food prices climbed 2.6%, fueled by a 5.1% jump in prices for food away from home, a category that includes restaurant meals and vending machine purchases. That gives their makers the ability to keep raising prices to mitigate higher costs, even as their volume drops. Even some of the biggest U.S. brands have signaled that consumers' tolerance of higher prices has worn thin.
Persons: Elena Perova, John David Rainey, Coke, James Quincey, Gregory Daco, airfares, Tyson, Fernando Fernandez, Arun Sundaram, Kraft Heinz, Chocolate, Hershey, Edward Jones, Brittany Quatrochi, Sundaram, Pringles, Kellanova, Heinz, Stefani Reynolds, Brad Thomas, CFRA's Sundaram, Thomas, Frederic J, Brown, Oscar Mayer, Greg Melich Organizations: Istock, Walmart, CNBC, Federal, Depot, Pew Research Center, Maine Foods, Unilever, Nestle, Bloomberg, Getty, Planters, Target, Kroger, AFP, U.S, PepsiCo, Frito, Evercore ISI Locations: Hershey , Pennsylvania, North America, Washington ,, Rosemead , California
CNN —Professional bowler Brandon Novak is facing child pornography charges after he was reportedly arrested midway through a tournament earlier this month. Per the report, Chillicothe police were first notified of Novak last year when a complaint was filed regarding his Facebook account being associated with child pornography, according to The Dispatch. Novak's mugshot from Ross County jail. Ross County JailDuring police interviews with Novak, he said he purchased pornography from someone on Snapchat, but initially said that he did not know the videos would contain child pornography, The Dispatch reported. He later admitted that he knew he was purchasing child pornography and was taking steps to conceal it, according to The Dispatch’s review of the police report.
Persons: Brandon Novak, Novak, Novak's mugshot Organizations: CNN —, The Columbus Dispatch, Ohio Public Records, Chillicothe Police Department, Dispatch Locations: Indiana, Ross County, Ohio, Chillicothe , Ohio, Indianapolis, Chillicothe, Ross
The app, which offers a slew of editing tools like filters, became a go-to for influencers and everyday social-media users, rivaling Instagram in cool factor if not in size. VSCO's memberships make up a majority of the company's revenue and it turned a profit in late 2022, Wittman told The Information last year. "VSCO boasts a worldwide community of more than 200 million users," Wittman told BI. Wittman told BI that VSCO is "capital efficient" and a spokesperson confirmed the company is profitable by GAAP standards. Here are 3 lessons VSCO's CEO has for startups entering the social-media arena in 2024:
Persons: Eric Wittman, VSCO, " Wittman, Wittman, ByteDance's, VSCO isn't Organizations: DMs
Unlike most in rich countries, American restaurant servers depend primarily on tips for their income. You might not know “dynamic pricing” by name, but if you’ve ever booked a flight, hotel room, or gone to the movies on a Tuesday, you understand it intrinsically: Dynamic pricing is when the price of goods or services fluctuates based on demand. “When confronted with dynamic pricing, customers react negatively,” a 2022 study said . In late 2023, after 35 years, Bayless decided to try dynamic pricing, raising the dinner menu on weekends from $165 to $185. Nick Kokonas, who cofounded Toast, also uses dynamic pricing at his Chicago restaurants.
Persons: Toast, they’re, Tipping, Michael Lynn, Zachary Brewster, Lynn, L’Oca, , ” Adam Orman, we’ve, haven’t, Crudo, you’ve, Sherri Kimes, Rick Bayless, Bayless, It's, ” Bayless, , Roger Yang, Nick Kokonas, Ari Weinzweig, ” Weinzweig, Yang, Corey Mintz Organizations: National Restaurant Association, Bureau of Labor Statistics, waitstaff, Cornell University, , Michelin Locations: America, Italian, Austin, Angeles, Chicago, Toronto, Ann Arbor , Michigan
The Leading Economic Index fell for the 22nd consecutive month in January. This story is available exclusively to Business Insider subscribers. The Leading Economic Index brings all of those together to gauge the future state of the economy across multiple dimensions, from growth and unemployment to consumer demand and homebuilding. Here's a screenshot showing the index's historic decline, from The Conference Board's latest release:AdvertisementThe Leading Economic Index has consistently declined ahead of previous recessions. There's no guarantee these four market veterans are right about the Leading Economic Index.
Persons: , Here's, joblessness, David Rosenberg, Merrill Lynch, Jeremy Grantham, Jeffrey Gundlach, Gary Shilling, There's Organizations: Service, Business, Conference Board, Treasury, Manufacturers, Institute, Supply, The Conference, Board, Rosenberg Research, North, DoubleLine, Conference Locations: North American
NVDA 5Y mountain Nvidia 5 years The Nvidia phenomenon is something for all investors to take note of and study. The first question we got on the call was in relation to the sustainability of the Data Center sales momentum. Generative AI isn't possible in a data center built for traditional general-purpose computing. In fact, Nvidia believes AI inferencing was responsible for about 40% of Data Center sales over the past year. This is why Nvidia was designated by Jim Cramer and the Club as an "own it, don't trade it" stock.
Persons: Jensen Huang, it's Nvidia's, Thursday's, we've, Colette Kress, we're, Nvidia's Huang, Huang, inferencing, It's, Jim Cramer, Apple's, Jim Cramer's, Jim, Ann Wang Organizations: Nvidia, Revenue, U.S, Data, Microsoft, Moore's Law, world's, Management, Software, Enterprise, Club, Apple, CNBC Locations: tacking, China, Taipei, Taiwan
Following Tuesday's trade, Jim Cramer's Charitable Trust will own 600 shares of WYNN, increasing its weighting in the portfolio to 1.85% from 1.5%. We're buying the dip in Wynn Resorts, which was trading lower by roughly 4% on Tuesday. Given the positive update about travel to Macao, a special administrative region of China, you would think Wynn shares would be trading higher on the session. However, softness has not shown up in the Macao travel and gross gaming revenue numbers. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Jim Cramer's, Wynn, WYNN, Wynn's, Jim Cramer, Jim Organizations: Wynn Resorts, WYNN, Macao Government Tourism Office, Super, Bowl, CNBC Locations: Macao, China, Vegas
Wang worked at Google for four years, first in policy and then in marketing. AdvertisementAt Google, Wang says he went through seven rounds of interviews. Show your accomplishments, not your work: Wang said he'd focus less on listing tasks, and more on explaining how his tasks became accomplishments. Tailor for what you want: "Pick your battles — not every single work experience is going to be equal," Wang said. Wang worked at Google's policy division and later as a product marketing manager.
Persons: Henry Wang's, Goldman Sachs, Wang, , Henry Wang, Wang reexamined, It's Organizations: Deloitte, Google, Service, University of California, Times Locations: Irvine, of New York
A new stock pick from the 93-year-old Buffett almost always leads some investors to follow suit, quickly moving the share price. Berkshire has been a longtime shareholder in credit rating agency Moody's , and bought a big stake in Citigroup in early 2022. The last financial stock Berkshire bought was Capital One Financial in the first quarter of 2023. If the new stake ever exceeds 5% of whatever stock it is, Berkshire would be required to report its holding with the SEC. Buffett might be asked to reveal the identity of the mystery stock at Berkshire's annual shareholder meeting in early May.
Persons: Warren Buffett, Berkshire Hathaway, Buffett, Todd Combs, Ted Weschler, Berkshire's, Goldman Sachs, David Kass, University of Maryland's Robert H, Jamie Dimon, Kass, there's Organizations: Berkshire, The Securities, Exchange, Chevron, Verizon, Apple, Buffett, Bank of America, American Express, Citigroup, Mastercard, Visa, JPMorgan, U.S . Bancorp, Bank of New York Mellon, University of Maryland's, Smith School of Business, outperforming Bank, SEC Locations: Omaha, Berkshire, McLean, Va, Wells, outperforming
New York CNN —Starbucks has opened its first cafe designed to give customers with disabilities a “more accessible store experience,” the company announced Friday in a news release. The move is part of a wider inclusivity initiative that Starbucks has undertaken to design easily navigable retail spaces for all of its customers. Any cafe that is renovated or opened in the future will begin implementing the company’s “Inclusive Spaces Framework,” it said in the release. The store design will also take acoustics into account by using materials that minimize background noise or echoes, which could disrupt people who use hearing aids. The chain last unveiled a new store design in 2019 with much of the similar aesthetic approach left intact with the new look.
Persons: , Maria Town, ” Tony Coelho Organizations: New, New York CNN, Starbucks, American Association of People, Walmart, Centers for Disease Control, ” Starbucks Locations: New York, Washington , DC, United States
CNN —Homeland Security Secretary Alejandro Mayorkas on Friday defended his record on the border, saying his impeachment by House Republicans has no basis in fact or law and he has no plans to slow down his work. Of course,” Mayorkas told Amanpour. As a member of the administration’s delegation to the conference, Mayorkas rebuffed the idea that Tuesday’s impeachment had compromised his standing with world leaders. Three Republicans – Ken Buck of Colorado, Mike Gallagher of Wisconsin, and Tom McClintock of California – voted with Democrats against the measure. “I’ve interacted with the president countless times,” Mayorkas told Amanpour.
Persons: Alejandro Mayorkas, CNN’s Christiane Amanpour, Mayorkas, , ” Mayorkas, Amanpour, I’m, Alexey Navalny, Joe, Robert Hur’s, , , Republicans – Ken Buck, Republicans – Ken Buck of Colorado, Mike Gallagher of, Tom McClintock, California –, Navalny’s, Vladimir Putin, Hur, Biden, “ I’ve Organizations: CNN, Homeland, House Republicans, Munich Security Conference, ” CNN, Republicans, United, Justice Locations: United States, Republicans – Ken Buck of, Mike Gallagher of Wisconsin, California, Ukraine
Greece has become the first majority-Orthodox Christian nation to legalize same-sex marriage under civil law. Public opinion in majority Orthodox countries has mostly been opposed, too. Civil unions may become more common among Orthodox countries gravitating toward the European Union. Greek Orthodox showed relative tolerance, with half of Orthodox saying homosexuality should be accepted and a quarter favoring same-sex marriage. As head of the Russian Orthodox Church, he oversees the world's largest Orthodox flock.
Persons: , Kyriakos Mitsotakis, , George Demacopoulos, ” Demacopoulos, , Vladimir Putin, “ perversions, Putin, Kirill, Moscow, Tiny Montenegro, Aleksandar Vucic, , ___ Smith, Yuras, Stephen McGrath, Illia Novikov, Veselin Toshkov Organizations: European Union, Pew Research Center, Orthodox Christian Studies Center, Fordham University, Ukrainian, of, of Human, Russian Orthodox Church, Kremlin, Russia’s, Levada, MONTENEGRO Serbia, Balkan, Serbian Orthodox Church, of Human Rights, Orthodox, Bulgarian Orthodox Church, Associated Press, Gec, Lilly Endowment Inc, AP Locations: Greece, Montenegro, Cyprus, Russia, Eastern Europe, Washington, New York, European, UKRAINE, Ukraine, RUSSIA, Russian, BELARUS, Belarus, SERBIA, MONTENEGRO, Serbia, ROMANIA, MOLDOVA Romania, Romania, Bucharest, Moldova, BULGARIA, Bulgaria, Pittsburgh, Tallin, Estonia, Belgrade, Kyiv, Sofia
Clarkson about “Madame Web” was that this was a superhero who did not have superhuman strength. Clarkson had long admired Dakota Johnson as an actor and was thrilled to get the chance to direct her. “It was important to me that we didn’t sort of, like, take ourselves too seriously. It really was a bit like clairvoyance for her in that she didn’t actually get to see it,” Clarkson said. But for Johnson and Clarkson, the ultimate goal to was to create something fresh.
Persons: S.J, Clarkson, , couldn’t, Cassandra Webb, ” Clarkson, Nicolas Roeg’s “, ” Christopher Nolan’s, , Venom, Morbius, Dakota Johnson, she’s, ” Johnson, Johnson, It’s, didn’t, Sydney Sweeney, “ Dexter, Netflix’s, she’d, Marvel’s “ Jessica Jones, ” She’s, Marvel, Madame Web’s, Denny O’Neil, John Romita Jr, that’s Organizations: ANGELES, Associated Press,
Carbon credits continue to play an important role in the global transition towards net zero. As an innovative financing mechanism, carbon credits allow corporates to mobilize capital to support emission-reduction projects. The decision to anchor CAD Trust in Singapore stems from acknowledging that transparency and governance are rooted in its DNA. Why Singapore is a prime location for firms to support global carbon marketsSingapore has successfully attracted more than 100 carbon market and services players to establish the city-state as their home base in Southeast Asia. Singapore's expertise in carbon services and its trailblazing move implementing Southeast Asia's first carbon tax in 2019, also appealed to Calyx Global.
Persons: — Dinesh Babu, Grace Fu, Duncan van Bergen, Van Bergen, — Duncan van Bergen Organizations: Reuters, Singapore, for Nature, National University of Singapore, Data Trust, Government of, Emissions Trading Association, Singapore's, Sustainability, Meta, Trust, Insider Studios, Singapore Economic Development Board Locations: Dubai, Singapore, Government of Singapore, South Asia, Southeast Asia, Oceania, Africa, Paris, Bhutan, COP28, Asia
NEW YORK (AP) — The mild-mannered Franklin — the first Black character in the “Peanuts” comic strip — gets to shine in his own animated Apple TV+ special this month in a story about friendship. Franklin is a newcomer who bonds with Charlie Brown and is welcomed to the Peanuts universe in “Snoopy Presents: Welcome Home, Franklin," which premieres on Friday. Franklin and Charlie Brown soon enter a soap box derby competition and their friendship is tested before a deep bond is forged. In the new special, Franklin is specifically asked to come sit with his new pals on their side during a pizza party celebration. So to have him years later spotlight Franklin in a TV special seems almost divine intervention.
Persons: Franklin —, Franklin, Charlie Brown, Robb Armstrong, Charles Schulz, , Armstrong, Scott Montgomery, ” “, Stevie Wonder, Little Richard, James Brown, John Coltrane, he's, Linus, he’s, Raymond S, ” Franklin, Schulz, Martin Luther King Jr, Charlie Brown’s, Charlie Brown's, , “ They’re, Persi, Mickey Mouse, Jeff Morrow, Berry's, Johnny B, Goode, Billy Preston, Coltrane, ” Armstrong, , revering Schulz, someone’s, I’m, ” ___ Mark Kennedy Organizations: Apple Locations: Franklin
Traders work on the floor at the New York Stock Exchange on Feb. 7, 2024. U.S. stock futures were flat Tuesday night after the Dow Jones Industrial Average posted its biggest decline since March 2023. Futures tied to the Dow slipped 14 points, or 0.04%. S&P 500 futures inched up 0.02%, and Nasdaq 100 futures added 0.07%. During Tuesday's regular session, the 30-stock Dow shed 1.35% for its worst day since March 2023.
Persons: Dow, Airbnb, Dow Jones, Terry Sandven, Sandven, Austan Goolsbee Organizations: New York Stock Exchange, Dow Jones, Nasdaq, Dow, Federal Reserve, CPI, U.S, Bank Wealth Management, Chicago Fed
Democrats insist Joe Biden's mind is fine following Robert Hur's special counsel report. Hur declined to file charges but questioned Biden's memory in his report. The report by special counsel Robert Hur was released following his investigation into Biden's handling of classified documents. However, he described Biden's memory as "poor" at times, even bringing up details regarding the May 2015 death of his son, Beau Biden. The most difficult part about a meeting with President Biden is preparing for it, because he is sharp, intensely probing and detail oriented and focused."
Persons: Joe Biden's, Robert Hur's, Hur, Biden, , Joe Biden, Robert Hur, Beau Biden, Ro Khanna, he's, Khanna, Jen Psaki, Biden's, Psaki, gaffes, Alejandro Mayorkas, hasn't, Mayorkas, Donald Trump Organizations: Service, Democratic, California, CNN, MSNBC, White House, NBC, Press, of Homeland, Republican Locations:
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