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As the central bank lowers its benchmark rate, mortgage rates are expected to go down. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 30-Year Mortgage Rates TodayAverage 30-year mortgage rates are hovering in the mid-6% range today, according to Zillow data. 15-Year Mortgage Rates TodayAverage 15-year mortgage rates are in the high 5% range, according to Zillow data. 5-Year Mortgage Rate TrendsHere's how 30-year and 15-year mortgage rates have trended over the last five years, according to Freddie Mac data.
Persons: they've, Jerome Powell's, you'll, Freddie Mac, it's, They'll Organizations: Zillow, Fed Locations: Chevron
Beauty raised its full-year guidance on Wednesday after posting a 40% growth in sales. Sales rose to $301 million, up about 40% from $216 million a year earlier. raised its full-year revenue guidance from a previous range of $1.28 billion to $1.3 billion and also raised its adjusted earnings guidance. The retailer is expecting adjusted earnings to be between $3.47 to $3.53 per share, up from a prior outlook of between $3.36 and $3.41 per share. Analysts had been looking for earnings guidance of $3.51, according to LSEG.
Persons: we're, Tarang Amin, Amin, Donald Trump Organizations: LSEG, Gen Alpha, CNBC, Target, Walgreens Locations: U.S
Ukraine carried out a drone attack on Russian warships in the Caspian Sea for the first time. It's the latest blow to the Russian navy, which has taken a beating in the Black Sea. This morning, Ukrainian attack drones successfully struck Russia's Caspian Sea flotilla in the port of Kaspiysk, over 1000 km behind the frontline. Related Video Ukraine's sea drones vs. Russia's Black Sea FleetBusiness Insider could not immediately verify the footage. Ukraine expands zone of strikes this morning, hitting Russia's Caspian Sea Fleet in Kaspiysk.
Persons: , Andriy Kovalenko, Sergey Melikov Organizations: Service, Strategic Communication, Security, National Security and Defense Council, Sea, Russian Navy Locations: Ukraine, Kaspiysk, Russian, Ukrainian, Russia's Dagestan, Moscow, Crimean, Crimea, Russia
What a second Trump term means for Intel
  + stars: | 2024-11-06 | by ( Emma Cosgrove | ) www.businessinsider.com   time to read: +5 min
He's also expressed opposition to the CHIPS Act, which Intel is counting on. Related Video How to invest in AI stocksTrump is a vocal supporter of US manufacturing, and Intel could benefit from this. Trump has been a vocal opponent of the Biden administration's CHIPS and Science Act and Intel insiders have noticed. With a Trump win, could the company miss out on a potential $8.5 billion in financial support from this legislation? Related stories"This country can become rich with the use, the proper use of tariffs," Trump told podcaster Joe Rogan recently.
Persons: Donald Trump's, He's, , Trump, It's, Pat Gelsinger, Gelsinger, Biden, podcaster Joe Rogan, Ben Thompson, TSMC, Rogan Organizations: Intel, Service, Trump, Trump Administration, Biden, Act, Bloomberg, Commerce Department, Apple Locations: China, Taiwan
Aimee Smale started her fashion brand Odd Muse four years ago, and it is now a $20 million business. AdvertisementThis as-told-to essay is based on a conversation with Aimee Smale, 27, the founder of Odd Muse, who lives in London. At 27, I own a multimillion-dollar fashion brand, Odd Muse, and seem to be living the dream. AdvertisementI started Odd Muse at 22 years old. AdvertisementOn TikTok, I've always been honest with the Odd Muse community.
Persons: Aimee Smale, Smale, , Odd Muse, Muse, it's, I've, Steven Bartlett, he's Organizations: Service, BBC Locations: London, ASOS
AI regulation is likely to change under Trump, but major antitrust cases are unlikely to be impacted. While on the campaign trail, Trump threatened retribution against some tech companies, including jailing Meta chief Mark Zuckerberg. "That is likely to have devastating consequences for US tech companies that sell in foreign markets as well as crippling domestic consumption." AdvertisementBut still, new guidelines won't have much impact on the biggest tech companies, Hay said. Experts fear that, if H1-Bs are restricted under the second Trump administration, the US could lose its competitive edge on the world stage.
Persons: Donald Trump, , Trump, Elon, marveling, — Musk, jailing, Mark Zuckerberg, Zuckerberg, Mark Lemley, Lemley, Neil Saunders, Chris Walton, Walton, there's, George Hay, Hay, wouldn't, Kamala Harris, Dan Romanoff, Joe Biden, Anna Rathbun, Biden, Rathbun, James Brundage, Ernst, Saunders, Valerie Wirtschafter, Harris, Romanoff, Wirtschafter Organizations: Trump, Big, Service, SpaceX, Big Tech, jailing Meta, Google, Justice Department, Department, Barclays, Stanford Program, Law, Science & Technology, Retail, Target, Apple, Cornell University, Republicans, Morningstar, AT, Time Warner, Republican, Walmart, Brookings, Artificial Intelligence, Emerging Technology Initiative Locations: Americas
With Donald Trump reclaiming the White House , Bank of America thinks his threat of steep tariffs could hurt Five Below . The bank downgraded the discount retailer to underperform from neutral on Wednesday and slashed its price target to $75 per share from $98. BofA's new forecast implies for nearly 20% downside for the stock. President-elect Trump campaigned on the prospect of tariffs on Chinese imports, and BofA analyst Melanie Nuñez thinks that Five Below's outsized exposure to China could serve as a material headwind moving forward. FIVE YTD mountain Five Below stock.
Persons: Donald Trump, Trump, Melanie Nuñez, Nuñez Organizations: House, Bank of America Locations: China
CNN —Republican Tim Sheehy will defeat three-term Montana Sen. Jon Tester, CNN projects, adding to Republicans’ newly won Senate majority. Montana has long been a deep-red state in presidential elections — and every other statewide office is currently held by a Republican. Still, his seat – alongside Democratic-held seats in two other red states, Ohio and West Virginia – was a prime Republican target this year. One big question mark hovering over the race was a ballot measure that would enshrine the right to an abortion in Montana’s constitution. Montana Republicans have pushed and enacted a series of abortion restrictions in recent years but have seen those largely struck down as unconstitutional by state courts.
Persons: Tim Sheehy, Montana Sen, Jon Tester, Republicans ’, West Virginia –, Bernie Moreno, Jim Justice, Tester, Trump, Sheehy, Republican Matt Rosendale, , , Joe Biden’s, Roe, Wade Organizations: CNN, Republicans, Republican, Capitol, Democratic, Navy SEAL, Democrats, Democratic National Convention, . Montana Republicans Locations: Montana, Ohio, West Virginia, Afghanistan, Montana’s
Cheap stocks still remain for investors to buy, despite the equity market persisting near its all-time highs. Strong economic growth and the commencement of an interest rate reduction cycle have propelled stocks to new heights this year, with the benchmark S & P 500 index up 21% in 2024, as of Tuesday's close. CNBC Pro recently screened data from LSEG to find the stocks in the S & P 500 that are currently priced at a discount and could see outperformance going forward. Industrial company 3M has already risen 38% this year but could climb another 15%, according to its average price target. Other names on the list of cheap but promising stocks included technology titan Alphabet , conglomerate Berkshire Hathaway and airline carrier United Airlines .
Persons: Wells Fargo, TD Cowen, Ryan Langston Organizations: Dow Jones Industrial, Nasdaq, CNBC Pro, Citigroup, Universal Health Services, SDP, Universal Health Services . Industrial, 3M, LSEG, Berkshire Hathaway, United Airlines Locations: Monday's
DETROIT – President-elect Donald Trump's victory over Vice President Kamala Harris is expected to send the U.S. electric vehicle industry into a period of uncertainty. Republicans, led by the former president, have largely condemned EVs, claiming they are being forced upon consumers. Several people said they would expect Trump to target federal consumer credits that currently offer up to $7,500 for the purchase of an EV rather than target industrial production credits for companies. "It has some really good things in it that I think Republicans and Democrats will like." Many of the investments into EV production under the IRA having been taking place in Republican states such as Ohio, South Carolina and Georgia.
Persons: Donald Trump's, Kamala Harris, EVs, Trump, David Rubenstein Organizations: GM, DETROIT –, U.S, Environmental Protection Agency, Biden, Auto, Trump, The Carlyle Group, CNBC Locations: Detroit, Hamtramck, Ohio, South Carolina, Georgia
Europe could take a hit to GDP in a second Trump presidency, Goldman Sachs analysts say. Europe could face a big hit to economic growth as trade tensions increase, Goldman Sachs analysts said. The analysts downgraded their growth forecasts across the region, down to 0.8% from their previous forecast of 1.1% for 2025. AdvertisementThe analysts point to renewed trade tensions fueled by Trump's proposal for sweeping tariffs on all US imports. More significant than the actual tariff increases, though, will be the trade policy uncertainty that comes with them, the analysts say.
Persons: Goldman Sachs, , Trump, Joachim Nagel, Christine Lagarde Organizations: Trump, Service, EU, NATO Locations: Europe, TPU, Germany, Sweden, Switzerland, China, Ukraine
Donald Trump's return to the White House sparked a big move higher in small-cap stocks. Small-cap stocks were seen as potential winners under a second Trump presidency, as investors expect it would ease regulations on businesses — which tend to weigh more heavily on smaller businesses. Wednesday's gains in small caps were led by private prison stocks Geo Group and CoreCivic , which were up roughly 20% each. Small-cap stocks have trailed their large-cap counterparts this year. Notably, small caps outperformed in the 3mos after both the Trump 2016 and Biden 2020 wins."
Persons: Donald Trump's, Russell, Jason Goepfert, Wolfe, Chris Senyek, IWM, Wells, Chris Harvey, Robert Krankowski Organizations: Trump, DOJ, FTC, Congress, Wolfe Research, Geo, Biden, UBS, Ferrari Locations: Wells Fargo
The logo of German bank Commerzbank seen on a branch office near the Commerzbank Tower in Frankfurt. Daniel Roland | Afp | Getty ImagesTwo months since UniCredit played its opening move to woo German lender Commerzbank , the lenders flaunted their financial strength as one of Europe's largest banking mergers still hangs in balance. Both banks reported third-quarter results on Wednesday, with UniCredit posting an 8% year-on-year hike in net profit to 2.5 billion euros ($2.25 billion), compared with a Reuters-reported 2.27-billion euro forecast. It raised its full-year net profit guidance to above 9 billion euros, from a previous outlook of 8.5 billion euros. When the Italian lender showed its hand by using derivatives to build a potential 21% stake in Commerzbank, the German lender appointed a new CEO and sharpened its financial targets.
Persons: Daniel Roland, UniCredit, Commerzbank, CNBC's Annette Weisbach, Bettina Orlopp, Orlopp, Chancellor Olaf Scholz, waylay, Let's, hadn't, Andrea Orcel, CNBC's Charlotte Reed Organizations: Afp, Getty, Reuters, CNBC, Wednesday, German Ministry of Finance Locations: Frankfurt, Europe, Commerzbank, Berlin
When officials meet to decide where interest rates should be, they don’t consult the president and other elected officials — and for good reason. That’s because, as one former Federal Reserve chair famously said, central bankers’ job is to remove the punchbowl right when the party is just getting started. I feel that strongly,” Trump said at a press conference in August, referring to the Fed’s interest rate decisions. Lowering interest rates too soon could’ve risked reigniting inflation, which is currently just a tenth of a percentage point higher than the Fed’s 2% target. That’s why countries with independent central banks generally have lower inflation, Fed Chair Jerome Powell told reporters in September after central bankers lowered rates by a half point.
Persons: , Said, Donald Trump, , ” Trump, , Trump, could’ve, Jerome Powell Organizations: New, New York CNN, Federal Reserve, Federal, Bloomberg, Fed Locations: New York
Mr. Trump is widely regarded around the world as a transactional leader. Chinese officials do see a potential upside if Mr. Trump pulls the United States back from its role as a global leader. But the Kremlin seems skeptical that Mr. Trump would actually push for such a deal, especially because of his track record: There was jubilation in Moscow when Mr. Trump won in 2016, but over the next four years, U.S. sanctions against Russia only increased, and Mr. Trump sent antitank weapons to Ukraine. On Wednesday, he quickly made clear that he would seek to have Mr. Trump on his side, as one of the first world leaders to congratulate Mr. Trump in a post on X. Mr. Trump has been effective in demanding more military spending from fellow NATO members, said Mr. Heisbourg.
Persons: David Pierson, Trump, Donald Trump’s, India Mujib Mashal, Narendra Modi, Trump’s, Africa Abdi Latif Dahir, , Gaza Patrick Kingsley, Benjamin Netanyahu, Benjamin Netanyahu’s, Mr, Netanyahu, , , Basem Naim, ” Read, Mexico Natalie Kitroeff, Claudia Sheinbaum, Read, Ukraine Anton Troianovski, J.D, Vance, Volodymyr Zelensky, Donald J, Somini Sengupta, NATO Steven Erlanger, Georgina Wright, Vladimir V, Putin, François Heisbourg, Heisbourg Organizations: The Times, Global, Trump, West Bank, Second Trump, NATO, Mr, Russia, Signals, U.S, Biden, International Studies, Institut Montaigne, Republican Locations: China, Beijing, United States, Taiwan, India, Asia, Africa, U.S, Russia, Niger, Chad, Israel, Gaza, Jerusalem, Iran, Mexico, Mexico City, Stake, Ukraine, Moscow, Kyiv, Paris, Europe, , French
Goldman Sachs reiterates Nvidia as buy Goldman said the stock is best positioned ahead of earnings later this month. JPMorgan upgrades Yum China to overweight from neutral JPMorgan upgraded the China operator of brands like KFC following earnings. Wedbush reiterates Tesla as outperform The firm said the EV maker is a big winner of a Trump presidency. Deutsche Bank reiterates Spotify as buy Deutsche said it's bullish heading into the streaming company's earnings report on November 12. JPMorgan downgrades Super Micro to underweight from neutral JPMorgan downgraded the stock following earnings citing too much regulatory uncertainty.
Persons: Bernstein, Apple, Goldman Sachs, Goldman, YUMC, Wedbush, Tesla, Trump, Jefferies, Raymond James, it's, Wells, BURL, Oppenheimer, TD Cowen downgrades Brown, Forman, Cowen, Needham, revs, Ferrari, it's bullish, Mizuho, Monness Crespi Hardt, Snowflake Organizations: Nvidia, JPMorgan, KFC, Trump, Ryman Hospitality, Citi, GE Healthcare, General Electric, Barclays, Tencent, Entertainment, Deutsche Bank, Spotify, Deutsche, Nike, Burlington, GAP, Super Micro, Services, UBS, Ferrari, Data Center, 2027E, Bank of America, of America Locations: China, 2Q24, Snowflake
Amazon founder and Executive Chairman Jeff Bezos celebrated Trump's win in a post on X, calling it an "extraordinary political comeback and decisive victory." Trump repeatedly took aim at Bezos' ownership of the Post, Amazon's tax record and its relationship with the Postal Service. Apple CEO Tim Cook congratulated Trump on his victory in a post on X. OpenAI CEO Sam Altman said in a post on X that he hopes Trump will see "huge success in the job." Meta CEO Mark Zuckerberg called Trump's election win a "decisive victory" and said he looks forward to working with the Trump administration.
Persons: Sam Altman, Jeff Bezos, Donald Trump, JD Vance, Trump, Bezos, Kamala Harris, Andy Jassy, Jassy, Tim Cook, Cook, Mark Zuckerberg, Zuckerberg, Elon, Musk, Trump's, Tesla, Sundar Pichai, he's, Satya Nadella, Reid Hoffman, Hoffman, Harris, Gelsinger, Arvind Krishna, Chuck Robbins, Uber, Dara Khosrowshahi, Aaron Levie, Michael Dell Organizations: Economic, Amazon, U.S, Washington Post, Postal Service, Trump, Post, Democratic, Apple, Facebook, SpaceX, White, America PAC, Google, Microsoft, Venture, LinkedIn, Intel, Biden, IBM, Cisco, Dell Technologies Locations: Davos, Switzerland, Glasgow, Scotland, Pennsylvania, Bezos, United States, U.S
Tech billionaire Elon Musk and his business empire stand to reap massive rewards if former President Donald Trump returns to the White House. Elon Musk joins former US President Donald Trump during a campaign event in Butler, Pa., on Oct. 5, 2024. “I love Elon Musk,” Trump said at a rally in July. It’s not clear how Musk and Trump would navigate the ethical questions around a possible government role for the tech billionaire. “He would be in much less trouble in a Trump administration because Trump shares his hostility to regulation and regulators,” Richard Pierce, a law professor at George Washington University specializing in government regulation, told NBC News in an interview earlier this year.
Persons: Elon Musk, Donald Trump, Musk, Trump, Vladimir Putin, SpaceX, ” Musk, Brian Hughes, , ” Hughes, Justin Merriman, ” Trump, , walling, Kamala Harris, Harris, Biden, Larry Krasner, ” Richard Pierce, John Raoux, Angela Aneiros, ” Aneiros, Tesla, There’s, SpaceX countersued, • Tesla, ” SpaceX, Starlink, Justice Department —, Tucker Carlson, Carlson, he’s, SpaceX’s, Kamala Organizations: Tech, Trump, Musk’s, SpaceX, China —, U.S, Wall Street, NBC News, Boeing, Fox News, Bloomberg, Getty Images Trump, D.C, Trump Organization, Budget, America PAC, Philadelphia, George Washington University, Tesla, Co, Kennedy Space Center, Gonzaga University, university’s Center of Law, & Commerce, Justice Department, National, Traffic Safety Administration, Securities and Exchange Commission, Street, Justice, Employment, Commission, National Labor Relations Board, SEC, Twitter, Federal Communications Commission, Federal Aviation Administration, FAA, Safety, Health Administration, NLRB, Reuters, Defense Department, NASA, International, White, National Space Council Locations: China, United States, Taiwan, Ukraine, Washington, Trump’s, Pennsylvania, Butler, Pa, Palm Beach , Florida, Texas, California, Cape Canaveral, Fla, Los Angeles, Austin, Mars
For President Joe Biden, the 2024 campaign ended much as it began, in a room full of union members. Even Biden at times would double-check with senior aides about looming actions, asking, “Have we run this by the vice president?” according to a senior official. Advisers are working on what Biden’s final weeks, and hours, in office will look like. “They’ll pull me aside, one leader after another, quietly, and say, ‘Joe, he can’t win. Harris’ first stop on the campaign’s final day was in Scranton, where for the second consecutive day she didn’t once mention Trump’s name.
Persons: Joe Biden, Kamala Harris, Donald Trump, ” Biden’s, , ” Biden, Joe, , Biden, Harris, Walz campaign’s “, Trump’s, ’ ”, Jill Biden, King of Prussia, rebutting, Trump, Donald Trump’s America, ” Jill Biden, Harris ’ Organizations: West, White, Air Force, Amtrak, Trump, Schools Locations: Washington, Scranton , Pennsylvania, Philadelphia, Scranton, Delaware, New Hampshire, Germany, Pennsylvania, King, North Carolina
Goldman Sachs has refreshed its list of top stock picks in Asia to include two automotive stocks: India's Mahindra and Mahindra and Japan's Honda Motor . The stocks are featured on the investment bank's "Conviction List - Directors' Cut," which seeks to offer a "curated and active" list of buy-rated stocks. Mahindra and Mahindra Goldman is betting on Mahindra and Mahindra given its "unique pipeline" in India's SUV car market. Goldman has a 12-month target price of 3,600 Indian rupees ($42.80) on the stock, implying 25% potential upside. Goldman has a target price of 2,200 Japanese yen ($14.50) on the stock, implying 44.3% potential upside.
Persons: Goldman Sachs, Chandramouli Muthiah, Goldman, Kota, — CNBC's Michael Bloom Organizations: India's Mahindra, Mahindra, Japan's Honda, Mahindra Goldman, Electric Vehicle, National Stock Exchange, Bombay Stock Exchange, Honda, Tokyo Stock Exchange, HMC Locations: Asia, India, China, U.S, Japan
North Korean troops have come under fire after joining Russia's war, Ukrainian officials said. The Pentagon says that North Korean troops engaged in combat would make them a fair target in the war. Kovalenko's statement on Monday was the first to suggest that North Korean troops were now actively fighting alongside Russian troops and against Ukraine. Last month, South Korean intelligence said that 1,500 North Korean troops had been shipped to Russia for training and likely deployment in the war. On Saturday, Ukrainian intelligence shared details of the military equipment it says Russia has issued to North Korean troops, including mortars, rifles, and machine guns.
Persons: Antony Blinken, , Lloyd Austin, Pat Ryder, Kim Jong Organizations: Pentagon, Service, North, Ukraine's Center, Financial, Kyiv, Ukrainian, US, Korean, Russian, Ukraine, Air Force, Armed Forces of, Defence Intelligence Locations: Kursk, Russia's Kursk, Kursk Oblast, Ukrainian, Russia, Moscow, Pyongyang, Ukraine, Korea, Armed Forces of Ukraine
Super giant TVs are flying off store shelves
  + stars: | 2024-11-05 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +3 min
XXL TVs – are becoming a huge hit as the cost of giant screens sinks sharply, and viewers look to replace the screens they bought during the peak of the pandemic a few years ago. Still, the growing popularity of XXL TVs could help Best Buy climb out of a series of downbeat quarters. Target, Costco and Walmart also have similar XXL TVs on sale ahead of the holiday season. XXL TVs are mirroring the growth of what four years ago were considered extra-large televisions: 65-inch models that customers scooped up during the pandemic. But with those now-four-year old televisions starting to get long in the tooth for some impatient customers, XXL TVs represent an attractive upgrade.
Persons: Corie Barry, ” Blake Hampton, ” Paul Gagnon Organizations: New, New York CNN, XXL, CNN, Target, Costco, Walmart Locations: New York, United States,
The Houthis possess a sizable arsenal of weapons, including missiles and drones. The Houthis have used these weapons to target ships in the Red Sea and Gulf of Aden. AdvertisementThe Houthi rebels couldn't have amassed their dangerous arsenal of weapons without extensive help from Iran and its proxy forces in the Middle East, according to a new report for the United Nations. Related storiesThe Houthis held a military parade in September 2023, during which the group boasted a formidable arsenal of anti-ship missiles, ballistic and cruise missiles, surface-to-air missiles, aerial drones, naval drones, speedboats, surveillance systems, and mines. AdvertisementUS naval forces have repeatedly intercepted vessels attempting to smuggle weapons from Iran to the Houthis illegally.
Persons: , couldn't Organizations: UN, Service, United Nations, UN Security, Lebanese Hezbollah, Pentagon Locations: Gulf of Aden, Iran, Yemen, Lebanese, Israel, Gaza, Iran's
Republican nominee for U.S. Senate Bernie Moreno addresses supporters at Brecksville Community Center on November 4, 2024 in Brecksville, Ohio. He voted against pro-crypto legislation, called for more regulation of the sector, and regularly posted anti-crypto rhetoric on social media. According to the tracker, 224 pro-crypto candidates have been elected to the House, against 106 anti-crypto House candidates that have won. In the Senate, 14 pro-crypto candidates have been elected, while nine anti-crypto candidates have been victorious. "Americans disproportionately care about crypto and want clear rules of the road for digital assets," Armstrong wrote.
Persons: Bernie Moreno, Crypto, Sherrod Brown, Brown, Moreno, Sen, Elizabeth Warren, Chris Larsen, Joe Biden, Warren, I'm, Tyler Winklevoss, Gary Gensler crony, Winklevoss, Brian Armstrong, Armstrong, Coinbase, Gensler, Elect Moreno's, Bitcoin, Donald Trump Organizations: U.S, Brecksville, Center, Ohio Senate, U.S . Senate, CNBC, Politico, SEC, Senate, Crypto Alliance, NBC, Commodities, Trading Commission, Fairshake, Defend, Jobs, Republican, , Yildirim Locations: Brecksville , Ohio, Ohio
Target released an update to its app to curb a shopper behavior workers call the "double tap." Workers previously said drive-up order customers caused chaos by waiting until arrival to tap a button saying they were en route. Whether by accident or on purpose, hundreds of Target drive-up customers using the retailer's mobile app arrive each day in the stores' parking lots before hitting the "I'm on my way" button. Now, following a mobile app released last week, shoppers will no longer be able to "double-tap" their drive-up orders. The company confirmed the change to Business Insider and said it continues to look for ways to improve the app for both workers and customers.
Persons: , hasn't Organizations: Workers, Service, Business Locations: New York, Wisconsin
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