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A television screen shows a news broadcasting of South Korean President Yoon Suk Yeol delivering a speech on emergency martial law, in Goyang, northwest of Seoul, on December 3, 2024. South Korea's won on Tuesday fell sharply against the U.S. dollar shortly after President Yoon Suk Yeol declared an emergency marital law. The U.S. dollar traded up as much as 2.7% against the won, before paring gains. Speaking during an unannounced televised briefing, South Korea's Yoon accused opposition lawmakers of controlling the parliament and throwing the country into a political crisis. Martial law refers to the temporary imposition of military authority over a civilian population, typically during a time of emergency.
Persons: Yoon Suk, South Korea's, Yoon Suk Yeol, Korea's Yoon, Yoon, hasn't Organizations: South, U.S, U.S . Locations: Goyang, Seoul, Republic of Korea, Korean, Asia's
An Oklahoma-based cleaning company has been fined nearly $172,000 after federal investigators found that it had hired nearly a dozen children to work dangerous overnight shifts at an Iowa slaughterhouse. The 11 children were hired by Qvest Sanitation of Guymon, Okla., to work at a pork processing plant in Sioux City, Iowa, operated by Seaboard Triumph Foods, the Labor Department said. The children used corrosive cleaners to wash equipment, including head splitters, jaw pullers, band saws and neck clippers, the department said last week. The department did not say how old the children were when they were working in the plant. Adam Greer, Qvest’s vice president of operations, said in a statement that the company had not been able to confirm the allegations because the Labor Department “has declined to provide us with any names or specific information related to the alleged violations.”“In spite of this, Qvest has not only fully cooperated with the Department of Labor but is and has been committed to strengthening our onboarding process,” he said.
Persons: Adam Greer, Labor Department “, Qvest, Organizations: Qvest Sanitation, Seaboard Triumph Foods, Labor Department, Department of Labor Locations: An Oklahoma, Iowa, Sioux City , Iowa
J.P. Morgan Private Bank is out with its list of recommended holiday books and experiences for wealthy clients, and this year's offerings include a George Clooney Broadway debut, an expanded art museum in São Paulo, Brazil, a wellness center in Manhattan and books about leadership and artificial intelligence. The "NextList2025," picking the most buzz-worthy books and experiences of the holiday season, includes four museums, two wineries, four Broadway shows and 10 books. To build the list, the bank received more than 1,000 submissions from client advisors based on their clients' tastes and interests. A review committee then researches the submissions and creates the list (similar to its popular J.P. Morgan Private Bank Summer Reading List). While the list is released by the Private Bank, it's used across J.P. Morgan divisions with wealthy and affluent clients.
Persons: George Clooney, it's Organizations: Morgan Private Bank, George Clooney Broadway, Broadway, Private Bank, Morgan Locations: São Paulo, Brazil, Manhattan
AdvertisementBlackRock is nearing a deal to buy private credit firm HPS Investment Partners. HPS would be another major private markets deal for the $11.5 trillion money manager. BlackRock, known for its ETFs, is hoping a shift to private markets will drive growth. BlackRock, the $11.5 trillion asset manager, is reportedly nearing a deal to buy HPS Investment Partners, a private credit behemoth managing $145 billion. AdvertisementFink, BlackRock's chief executive and cofounder, who built the world's largest asset manager by packaging public markets into cheap funds for the masses, has been very vocal about the firm's push into the profitable private markets.
Persons: HPS, Larry Fink, Fink, Izzy Englander's, HPS didn't, Scott Kapnick, Goldman Sachs, Scot French, Michael Patterson, Cindy Ord, BlackRock, GIP, Martin, It's Organizations: BlackRock, HPS Investment Partners, Financial Times, Bloomberg, Global Infrastructure Partners, Management, Barclays, Investment, JPMorgan, Highbridge Capital Management, HPS Investment, Getty, Private, Wall, Apollo, KKR, Tennenbaum Capital Partners Locations: BlackRock
Jim Cramer shares his concerns with the current state of the market'Mad Money' host Jim Cramer shares his concerns with the current state of the market.
Persons: Jim Cramer
The startup computing company aims to rival Nvidia with more affordable AI chips and processing. The nearly $700 million round attracted investors Samsung, Bezos Expeditions, and LG Electronics. In its latest funding round, Tenstorrent, a startup computing company that builds powerful AI hardware and software to compete with Nvidia, attracted big-name investors — including Jeff Bezos and Samsung. A company statement released Monday said its Series D funding round raised $693 million, valuing the AI chip startup at about $2.6 billion, per Bloomberg. Representatives for Tenstorrent, Samsung, and Bezos Expeditions did not immediately respond to requests for comment from Business Insider.
Persons: Jeff Bezos, Tenstorrent, Keith Witek, Ljubisa Bajic, Ivan Hamer, Milos Trajkovic, Jim Keller, Keller Organizations: Nvidia, Samsung, Bezos Expeditions, LG Electronics, Bloomberg, Samsung Securities, AFW Partners, Hyundai Motor Group, Apple, University of California, Tenstorrent, Business Locations: Seoul, Berkeley
Forty-six percent of Americans say they get less alone time during the holidays, according to a new survey commissioned by The Ohio State University Wexner Medical Center and College of Medicine, released on Tuesday. To figure out whether alone time energizes or depletes you, Durvasula suggests dedicating a full day or weekend to just yourself and observing how it affects your emotions. To unwind while alone, Lazarus suggests activities including journaling, meditating, exercising and listening to music to help replenish yourself and be more present when reconnecting with others. In fact, 36% of people say they are more irritable because they don’t get enough alone time, the survey found. “We often don’t get to turn down the volume on that constant state of social monitoring and social calibration,” Durvasula said.
Persons: , I’ve, I’m, , , Sophie Lazarus, it’s, Ramani, Durvasula, Lazarus, ” Durvasula, Fallon Goodman, ” Goodman, ” Lazarus Organizations: CNN, The Ohio State University Wexner Medical Center, College of Medicine, Ohio State, California State University , Los, George Washington University, DC Locations: California State University , Los Angeles
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Market meanders: The stock market was having a choppy session after Monday's all-time high close for the S & P 500 . 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 . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Monday's, We're, MariTide's, Eli Lilly, Lilly, MariTide, Jim Cramer's, Jim Organizations: CNBC, Apple, Novo Nordisk, name's, Marvell Technology, Marvell, Nvidia, Devices, Broadcom, Companies, Hormel Foods, U.S, Jim Cramer's Charitable
It's time to buy into the equal-weighted S & P 500 index. "So it's more, like I said, more of a Russell and S & P Equal Weight." RSP YTD mountain Invesco S & P 500 Equal Weight ETF Much of this year's advance has to do with the so-called Magnificent Seven stocks, which bolstered the market-cap weighted S & P 500 with their enormous size and influence. The S & P 500 is higher by more than 26% in 2024, and it surged about 24% in 2023 — a historically strong pace of gains many strategists are not expecting will repeat in 2025. The Invesco S & P 500 Equal Weight ETF (RSP) is one way for investors to play the trend, and the fund has captured nearly $4.4 billion in inflows in the past month, according to FactSet.
Persons: Jason Hunter, Russell, Savita Subramanian Organizations: JPMorgan, RSP, Nvidia, Apple, Bank of
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch Tuesday's full episode of Mad Money with Jim Cramer — December 3, 2024"Mad Money" host and former hedge fund manager, Jim Cramer, provides stock traders with all manner of investing advice.
Persons: Jim Cramer —, Jim Cramer
AdvertisementPresident-elect Donald Trump's latest tariff threat is 100% on goods from a group of nine countries known as BRICS. Business Insider looked at the top goods the US imports from BRICS nations, including medicine, apparel, and electronics. Census Bureau trade data showed that in 2023, the BRICS nations together accounted for about $578 billion in imports to the US. India accounted for much of the imports when looking at the BRICS nations, excluding China. Luiz Inácio Lula da Silva, Brazil's president, proposed creating a common currency among the BRICS nations last year, which could help avoid US sanctions.
Persons: Donald Trump's, Trump, Luiz Inácio Lula da Silva, Dmitry Peskov, GOP Sen, Bill Hagerty, Hagerty Organizations: United, United Arab Emirates, U.S, International Trade, Business, China, Trump, Walmart, Columbia, GOP, NBC Locations: BRICS, Brazil, Russia, India, China, South Africa, Ethiopia, Egypt, Iran, United Arab, America, Mexico, Canada
One of Canada's large financial holding companies appears to be an attractive dividend investment opportunity, according to Scotiabank analysts. This development could boost Power Corporation's dividend growth rate, as Great-West represents its largest source of dividend income. "We think the value of the dividend growth is not reflected in the stock price and is underappreciated by the Street," the analysts added. Scotiabank's price target of 56 Canadian dollars ($40) is around 20% above the current stock price, with additional upside potential if dividend growth rates increase. The company recently agreed to sell its stake in Peak Achievement Athletics for around 440 million Canadian dollars, providing additional capital for potential shareholder returns.
Persons: Phil Hardie Organizations: Scotiabank, Power Corporation of Canada, Power Corp, IGM, Power Corporation, Desjardins Securities, Power Locations: U.S
Revenue of $9.44 billion topped consensus forecasts calling for $9.35 billion, according to LSEG. Meanwhile, adjusted earnings of $2.41 per share slightly missed estimates for $2.44 per share. Okta sees revenue for the period ranging between $667 million and $669 million, while analysts polled by LSEG sought $651 million. Box anticipates adjusted earnings of 41 cents per share on revenue of $279 million, which is in line with what analysts sought, per LSEG. Adjusted earnings of 89 cents a share topped estimates for 87 cents per share, however.
Persons: Okta, LSEG, Campbell's, Mark Clouse Organizations: Marvell Technology
Interest rate cuts are expected in December, March, and June, reaching a 3.75% to 4% terminal rate. Things are looking up for the economy next year, according to Bank of America's forecast for 2025. AdvertisementRegarding interest rate cuts, the bank expects three more for this cycle in December, March, and June. "In terms of the structural tailwinds, the key story really is productivity," Bhave said. We're now on a faster trend for growth rate since the start of the pandemic than we were in the previous cycle, which is really quite remarkable."
Persons: they're, Aditya Bhave, Bhave, We're Organizations: Bank of America, Productivity, Bank of, PCE, Fed Locations: China
Apple says it uses Amazon's custom AI chips
  + stars: | 2024-12-03 | by ( Kif Leswing | ) www.cnbc.com   time to read: +3 min
Apple is currently using Amazon Web Services' custom artificial intelligence chips for services like search and will evaluate if the company's latest AI chip can be used to pre-train its models like Apple Intelligence. Benoit Dupin, Apple's senior director of machine learning and AI, took the stage to discuss how Apple uses the cloud service. Apple uses those cloud services, too. Benoit said that Apple had used AWS for over a decade for services including Siri, Apple Maps and Apple Music. Apple has used Amazon's Trainium and Graviton chips to serve search services, for example, and Benoit said that Amazon's chips had led to a 40% efficiency gain.
Persons: Benoit Dupin, Apple's, Apple's Dupin, Benoit, Siri, Dupin, Apple, OpenAI's ChatGPT Organizations: Apple, Amazon Web Services, Apple Intelligence, Microsoft, Google, Apple Music, Intel, AMD, Amazon, Nvidia, Nvidia Blackwell
AdvertisementSpaceX is reportedly in talks to sell shares, a deal that would boost its valuation to around $350 billion. SpaceX is currently in talks to sell insider shares in a deal that would value the private company at around $350 billion, Bloomberg reported Monday, citing sources familiar with the potential sales. If the $350 billion valuation is realized, it would be double what the company was reportedly selling shares at one year ago. In December 2023, Bloomberg reported SpaceX shares were being sold at a $175 billion valuation. The outlet previously reported SpaceX shares were being sold at a $210 billion valuation in June and at $255 billion just last month.
Persons: Elon, Donald Trump, Trump Organizations: SpaceX, Elon Musk's, Bloomberg, Business, Department of Government Efficiency
AdvertisementNew survey data from Evercore suggests Netflix has room to raise prices. Netflix's subscriber gains from its password-sharing crackdown could be waning, and some on Wall Street think it'll raise prices soon to keep its growth going. Its quarterly survey of Netflix subscribers, published December 1, showed that Netflix is in a strong position based on market penetration, satisfaction, and likelihood of canceling. Netflix's lower-priced ad tier has also increasingly kept people from canceling while giving the streamer cover to raise prices on its pricier, ad-free tiers. The last time Netflix raised prices on its Standard ad-free plan was January 2022, when it raised it by $1.50 to $15.49.
Persons: Paul, Tyson, they'd, Disney's Hulu, Evercore, Erik, Lyle Menendez, Jake Paul, Mike Tyson, Greg Peters, it's, Peters Organizations: Netflix, ISI, Citibank, Consumers, Amazon's, WWE Locations: Europe, Japan
Giulia Cecchettin was just days away from graduating with a degree in biomedical engineering at the University of Padua, in Italy, when her disgruntled ex-boyfriend confronted her, demanding that she take him back. Her body was found a week later, wrapped in plastic bags and thrown in a ditch. On Tuesday, more than a year after Ms. Cecchettin’s killing, her former boyfriend, Filippo Turetta, was convicted of murder and sentenced to life in prison, concluding a case that has outraged people across Italy, where chauvinistic attitudes remain deeply rooted at all levels of society. In the first 11 months of this year, 101 women were killed in Italy, more than half by their current or former partners, according to Italy’s Interior Ministry. But Ms. Cecchettin’s story has stood out, striking a particularly deep chord across the country.
Persons: Giulia Cecchettin, Cecchettin’s, Filippo Turetta Organizations: University of Padua, Interior Ministry Locations: Italy
But most importantly, the company showed that Agentforce, its new AI platform, may kickstart revenue growth in the future. CRM YTD mountain Salesforce's stock performance in 2024. With the stock up more than 10% to $360 per share in extended trading, we are increasing our price target to $400 from $300. Wall Street is willing to look past Salesforce's slight miss on adjusted EPS because of the upbeat revenue performance. Guidance For the fiscal fourth quarter, Salesforce expects revenues of $9.9 billion to $10.1 billion.
Persons: Salesforce, Agentforce, Salesforce's, it's, Marc Benioff, Jim Cramer, Benioff, Amy Weaver, Weaver, Jim Cramer's, Jim, Marlena Sloss Organizations: Revenue, LSEG, SAP, Microsoft, Agentforce, CNBC, Bloomberg, Getty Locations: London's, Agentforce, Salesforce, San Francisco , California
On the holiday calendar, Giving Tuesday comes right after Cyber Monday, marking a day for individuals to consider donating to their favorite charities. Instead, a direct gift of appreciated assets, be they stocks, mutual funds or even cryptocurrency, is the savviest way to share the wealth. 1 asset contributed to the program," said Brandon O'Neill, charitable planning consultant at Fidelity Charitable, a donor-advised fund sponsor. "If you gift an appreciated asset, not only do you get a tax deduction, you also avoid a capital gains tax liability." By transferring appreciated assets to a donor-advised fund, investors can simplify their giving and make grants to multiple organizations.
Persons: Cash, Brandon O'Neill, , Miklos Ringbauer, Christine Benz, Benz, aren't Organizations: Fidelity, Fidelity Charitable, Defense, Vistra Corp, Morningstar Locations: Los Angeles, QCDs
It showed her how different it feels to travel in your 20s alongside students versus exploring with kids in tow. Delving deep, I was fully immersed in my classes, reading every book on the recommended list and watching every film. Studying abroad in IndiaDuring my last year in school, as part of my study-abroad program, I volunteered at a children's home about 90 minutes south of Delhi. AdvertisementAfter a day of serving others, I'd return to the YMCA, my home in New Delhi at the time. AdvertisementAltschuler (second from left) was reminded of all the kindness in India on her second trip to India.
Persons: Wendy Altschuler, I hadn't, I'd, I've, Chandni, we'd, Taj Mahal, Chandra Mahal, Altschuler, Wendy Altschuler Sojourning Organizations: YMCA, Lotus Locations: India, Little India, Delhi, Agra, Jaipur, New Delhi, South, Southeast Asia, Red, Jama, Old Delhi, Agra Fort, Pink City, City
In September last year, the top United Nations envoy for the Middle East peace process left a meeting with Hamas leaders in Gaza thinking that he had helped avert a major escalation. The veteran Norwegian diplomat, Tor Wennesland, said he believed that Hamas had agreed to reduce recent tensions along the Israel-Gaza border in exchange for more work permits for Gazan workers. But Hamas had bluffed Mr. Wennesland, along with the Israeli leadership and much of the international community. Days later, the group’s fighters attacked Israel, setting off the deadliest year in the history of the Israeli-Palestinian conflict. It was a misconception that Mr. Wennesland now says is emblematic of the problem with the international community’s recent approach to the Israeli-Palestinian conflict.
Persons: Tor Wennesland, Wennesland Organizations: United Nations, Hamas Locations: Gaza, Norwegian, Israel
It’s one thing to be rich in New York City these days. It’s quite another to be able to afford private school. This divide between the haves and have-mores helps tell the story of a city turned so upside down by rising prices that even the very upper end of the middle class is feeling squeezed. Private schools are seen by many families as a crucial ladder to top colleges and social connections. New York City private schools have turned out some of the most influential people in America, including Secretary of State Antony J. Blinken; Jamie Dimon, the JPMorgan Chase chief executive; and several generations of Rockefellers and Kennedys.
Persons: Antony J, Blinken, Jamie Dimon Organizations: Private, JPMorgan Chase Locations: New York City, America
The 10-year Treasury yield rose 2 basis points to 4.215% at 4:50 a.m. ET while the yield on the 2-year Treasury dipped 1 basis point to trade at 4.186%. The benchmark U.S. 10-year Treasury yield edged higher on Tuesday as investors await data that will offer insights about the strength of the U.S. economy. On the data front, market participants will monitor the Labor Department's Job Openings and Labor Turnover Survey for October on Tuesday morning. ET, will provide estimates for the number of job openings, hires, layoffs and quits.
Persons: Adriana Kugler, Austan Goolsbee, Dow Jones, That's, Lisa Kailai Han, Sawdah Bhaimiya Organizations: Treasury, Labor, Survey, Investors, Chicago Fed Locations: U.S
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Club stock BlackRock is adding private credit to its menu of services, agreeing to buy HPS Investment Partners for $12 billion in stock. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .
Persons: Jim Cramer, Larry Fink, He's, Jim, Fink, It's, Agentforce, Stocks, Jim Cramer's Organizations: CNBC, Nasdaq, Treasury, Club, BlackRock, HPS Investment Partners, CVS Health, FedEx, U.S . Steel
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