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A national CBS News/YouGov poll conducted last week found that 71% of people plan to avoid political discussions at Thanksgiving. Voss was among the dozens of people on social media who posted videos about how they are opting out of their family Thanksgiving plans. Van Bavel is director of NYU’s Social Identity and Morality Lab, which studies the dynamics of shared social identities. “There’s way more diversity among Republicans than most Democrats believe, and there’s way more diversity among most Democrats than most Republicans believe,” Van Bavel said. Jay Van Bavel, psychology professor at New York University“One of the biggest fears people have is being socially ostracized,” Van Bavel said.
Persons: Donald Trump, it’s, , Alexis Voss, Voss, she’s, , , Yale, Amanda Calhoun, MSNBC’s Joy Reid, I’m, , Jesse Watters, Elon Musk, Jay Van Bavel, Van Bavel, ” Van Bavel, ” Diana Rodriguez Wallach, Kamala Harris, Wallach, Jordan Williams, MAGA, Williams, Scott Walker, Walker, they’re Organizations: Trump, CBS, Fox News, New York University, Democratic, New York University “ One Locations: Ohio, Pennsylvania, Puerto Rican, California, United States
President-elect Donald Trump has chosen John Phelan, a businessman and investor with no military experience, to become the next Secretary of the Navy. Phelan, if confirmed, would be the first person in 15 years to lead the Navy without having served in any branch of the armed forces. “He will put the business of the U.S. Navy above all else.”As the 79th Navy Secretary, Phelan would oversee more than 900,000 people and an annual budget of more than $210 billion. Twenty out of 26 people to be confirmed as Navy secretary over the last 70 years were veterans, the Military Times reported. On Nov. 12, Trump announced he would nominate Pete Hegseth, a combat veteran and former Fox News host, to be the Secretary of Defense.
Persons: Donald Trump, John Phelan, Phelan, , , Trump, Phelan’s, ” “ John, ” Trump, Carlos Del Toro, Pete Hegseth, Hegseth Organizations: NBC News, Trump, Rugger Management, Harvard Business School, U.S . Navy, Navy, Marine Corps, Army, Coast Guard, Command, Military Times, Fox News, Defense, Army National Guard Locations: Palm Beach , Florida, Afghanistan, Iraq, Guantánamo Bay, Cuba
But while renters face unique affordability challenges, there are still steps they can take to improve their financial standing. Renters generally face financial challenges such as lower income, higher debt, less savings and lower rates of asset ownership, the report noted. Across income levels, renters are less likely than homeowners to own assets including cars, retirement accounts and securities, among others, the report found. Here are some of the financial challenges renter households in three sample income brackets face, according to the Aspen Institute, and ways they can build wealth. A hypothetical family in this category “first needs financial stability to meet the precondition for wealth building,” the Aspen report said.
Persons: That’s, Janneke Ratcliffe, , Ratcliffe, Clifford Cornell, , ” Cornell, Shaun Williams, ” Williams, Williams, you’re Organizations: Aspen Institute, Urban Institute, Aspen, Paragon Capital Management, Cornell, Locations: U.S, Washington ,, New York City, Denver
AdvertisementInternal AWS documents obtained by BI lay out the cloud giant's growth priorities next year. Amazon Web Services recently laid out new growth initiatives that include a focus on healthcare, business applications, generative AI, and the Middle East region, according to internal documents obtained by Business Insider. These are part of the AWS sales team's priorities for next year and Amazon refers to them internally as "AGIs," short for "AWS growth initiatives," one of the internal documents shows. That was slower than Microsoft's and Google's cloud business, on a percentage basis. Generative AI Innovation CenterLast year, AWS launched a $100 million program called Generative AI Innovation Center, which connects customers with AWS's AI scientists and experts to help launch generative AI solutions.
Persons: Greg Pearson, AWS's, Patrick Neighorn, Matt Garman Frederic J . BROWN Organizations: BI, Microsoft, Google, Amazon Web Services, Business, AWS, Synergy Research, Amazon, Services, Getty, Data Centers, Forbes, Adobe, Gulf Cooperation Council, Center, Accenture, Tata Consultancy Locations: East, AFP, Saudi Arabia, Bahrain, UAE, Israel, Kuwait, Oman, Qatar
AdvertisementThe global economic expansion will continue into 2025, according to Goldman Sachs Asset Management. "But it's all a give and take here, because we're also going to be seeing a lot of efficiencies come into the labor market, potentially." GSAM strategists aren't sweating about the labor market yet, but they're watching those trends closely. Despite their lofty valuations, GSAM isn't bailing on US equities. That may finally change in 2025 as China's government gets serious about economic stimulus, Wilson-Elizondo said.
Persons: Alexandra Wilson, Elizondo, Goldman, Trump's, Wilson, We're, we're, corporates —, it's, aren't, isn't, GSAM Organizations: Goldman Sachs Asset Management, Management, Trump, Companies, Goldman, Wilson
I decided to start an Etsy store, selling digital products like business templates and party games. Today, at 36, I have a thriving living room side hustle that regularly brings in $10,000 a month or more in passive income. I took consistent action every dayI took a course about selling digital products on Etsy back in 2019 that jump-started everything. I would try to work six to eight hours a day developing and listing products. After my digital product class ended, I stayed active in our Facebook group.
Persons: Peter Drucker, wouldn't, I've Organizations: Facebook
AdvertisementElon Musk says he wants to eliminate the Consumer Financial Protection Bureau. The CFPB was created after the 2008 crisis to protect consumers from financial abuses. "Delete CFPB," Musk wrote on X early Wednesday of the Consumer Financial Protection Bureau. The agency investigates consumer complaints related to credit cards, loans, bank accounts, and debt collection and enforces consumer protection laws. Earlier this year, the CFPB also limited credit card late fees to $8 a month, compared to the average $32 fee charged by issuers in 2022.
Persons: Elon Musk, Musk, Vivek Ramaswamy, Dodd, Frank, Democratic Sen, Elizabeth Warren, Barack Obama, Warren, Wells Fargo, who've, , Clarence Thomas Organizations: Financial, Bureau, Elon, Consumer Financial, Trump, Government, Trump Administration, Congress, Democratic, Harvard Law School, Personnel Management, Bank of America, of America, Apple, Google, Federal Locations: Wells Fargo, Wells
Elon Musk and Vivek Ramaswamy will visit Capitol Hill to discuss government reform with Republican congressional leaders Dec. 5, House Speaker Mike Johnson, R-La., announced Wednesday. Johnson said the entrepreneurs will "discuss major reform ideas to achieve regulatory rescissions, administrative reductions, and cost savings" with GOP lawmakers. President-elect Donald Trump has named Musk and Ramaswamy co-chairs of a new outside advisory commission they have dubbed the Department of Government Efficiency (DOGE). Next week's planned meeting is the latest indication that Republican leaders in Congress are taking Musk and Ramaswamy seriously. Yet even the best efforts of Republican leaders in Congress may not be enough to enact many of these ideas.
Persons: Donald Trump, Elon Musk, Vivek Ramaswamy, Mike Johnson, Johnson, Ramaswamy, Musk, Spokespeople Organizations: SpaceX, Capitol, Republican, GOP, Department of Government Efficiency, White, Office of Management, Congress, Corporation for Public Broadcasting, Consumer Financial Protection Bureau, Tesla Locations: Brownsville , Texas, U.S
A federal judge overseeing New York City’s Rikers Island jail complex on Wednesday found the city in contempt for failing to stem violence and excessive force at the facility, and said she was leaning toward taking control of the city’s jails. The judge, Laura Taylor Swain, said in a 65-page opinion that the city and its Department of Correction had violated the constitutional rights of prisoners and staff members alike by exposing them to danger, and had intentionally ignored her orders. Judge Swain’s ruling came nearly a decade after the city’s jails, which include the Rikers Island complex, fell under federal oversight in a settlement of a class-action lawsuit brought by prisoners and the Legal Aid Society. Since then, a court-appointed monitor has issued regular reports on the violence that has continued to plague the facilities. In the past two years, at least 33 people have died in the jails or shortly after being released.
Persons: Laura Taylor Swain, , Jan, Judge Swain’s Organizations: New York, Correction, Legal Aid Society
Andreessen's comments echo that of Elon Musk, who said this week that he thinks crewed fighter jets are inefficient. Elon Musk isn't the only tech executive who thinks drones are way better than fighter jets. Related Video The true cost of America's war machinesAI-controlled jets, Andreessen told Rogan, are "far superior" to fighter jets that need pilots. Advertisement"Crewed fighter jets are an inefficient way to extend the range of missiles or drop bombs. Drones have been game-changing in modern warfare, but military experts say there are still advantages to having manned fighter jets over drones.
Persons: Marc Andreessen, Elon Musk, Andreessen Horowitz, Joe Rogan, Andreessen, Rogan, Musk, Eric Schmidt, Schmidt, Sebastian Thrun, Donald Trump's, Vivek Ramaswamy, Justin Bronk, Mark Gunzinger Organizations: Elon, Andreessen, Business, Stanford University, Ares Industries, of Government, The Wall, Pentagon, Royal United Services Institute, US Air Force, Concepts, Mitchell Institute for Aerospace Studies Locations: Silicon, Russia
Meanwhile, active mutual funds lost money in all but one year (2021); they shed $344 billion in the first 10 months of 2024. "We see [active ETFs] as the growth engine of active management," said Bryan Armour, director of passive strategies research for North America at Morningstar. As a result, passive funds have attracted more annual investor money than active funds for the past nine years, according to Morningstar. watch nowBut, for investors who prefer active management — especially in more niche corners of the investment market — active ETFs often have a cost advantage versus active mutual funds, experts said. "They are a tiny portion of active net assets but growing rapidly at a time when active mutual funds have seen pretty significant outflows," he said.
Persons: Tang Ming Tung, Bryan Armour, it's, Morningstar, It's, Jared Woodard, Armour Organizations: Getty, Morningstar, North America, P, Bank of America Securities
Five of the most prestigious business schools in the US enrolled fewer underrepresented minority students this year, according to demographic data released since the Supreme Court overturned affirmative action last summer. Of those 15, six saw a notable increase in the number of underrepresented minority students represented in their matriculating 2024 classes, Bloomberg found. 7-ranked Wharton saw its share of underrepresented minorities dip 2% with this year's cohort, while No. MIT Sloan's share of underrepresented minority students in this year's entering class fell 5.7% from the Class of 2025's 14.2 minority makeup. AdvertisementFor example, Duke's Fuqua School of Business and UC Berkeley's Haas School of Business both reported an 8.2% increase in the share of underrepresented minorities enrolled this year.
Persons: , Bloomberg, Wharton, Kellogg's, Kellogg, MIT Sloan's, Duke's Organizations: Bloomberg, Pacific Islander, Harvard Business School, The University, Pennsylvania's Wharton School, Stanford Graduate School of Business, Northwestern's Kellogg School of Management, MIT Sloan School of Management, Harvard, Kellogg School of Management, MIT, Duke's Fuqua School of Business, UC Berkeley's Haas School of Business
AdvertisementTrump's new DOGE commission, tasked with cutting spending, has floated laying off federal workers. Government employees told BI they're preparing by networking and freshening their resumes. President Bill Clinton also attempted to reduce federal spending and improve government efficiency with the National Performance Review, led by federal employees. Clinton's panel similarly succeeded in cutting 300,000 federal workers but only managed to get a quarter of proposals that required legislative action through Congress. One senior official at the Commerce Department told BI they anticipate a civil servant brain drain.
Persons: Donald Trump's, Jesus Soriano, who's, Elon Musk, Vivek Ramaswamy, Ramaswamy, Trump's, Brian Hughes, Vance, Soriano, he's, Ronald Reagan, Grace, Bill Clinton, Joyce Howell, , it's, we're, lifer, Sheria Smith, I'd, Smith Organizations: of Government Efficiency, Business, of Health, Human Services, National Science Foundation, agency's American Federation of Government Employees, GOP, SpaceX, Roivant Sciences, DOGE, of Housing, Urban Development, Veterans Affairs, Homeland Security, Management, Street, Trump, America, Grace Commission, US Postal Service, Postal Service, Environmental Protection Agency, Food and Drug Administration, FDA, of Labor Statistics, Commerce Department, BI, Department of Education, Education Department, aaltcheck Locations: America
AdvertisementA woman's creative out-of-office emails sparked debate on professionalism and workplace norms. Experts say OOO emails should reflect a company's culture. The backlash to a woman's creative out-of-office emails has caught the attention of TikTok and ignited a debate over how much personality to bring to work. Being creative can workSome saw her creative automated emails as unprofessional, while others thought it was a sign that her workplace was stifling and restrictive. Moise told BI that she had found the response to her video funny for the most part, though some had veered into bullying or calling for her to be fired, which was "unnecessary," she said.
Persons: Thara Moise, Chef Moise, Julia White, she'd, " Moise, Carla Bevins, Rich Mehta, Jo Mackie, Burlingtons, Moise, Mackie, Moray Organizations: America, Carnegie Mellon University's Tepper School of Business Locations: Pittsburgh, Moray
— Thanks, Marek We do two things right off the bat after identifying a stock that we might want to buy. Remember, as an investor, you want to know every little aspect of every company whose stock you buy or think about buying. Financial statements In addition to understanding a company from a high level, we can't take a position before analyzing the financial statements and getting a sense of the health of the company in question. All three are incredibly important, however, of the three, the balance sheet is going to be the one to look at first. Knowing what shape the balance sheet is in gives you a better sense of the company's outlook.
Persons: Jim Cramer, Marek, that's, it's, Linde, Myers Squibb, Myers, Karuna, Jim Cramer's, Jim Organizations: Amazon, Linde, Myers, Karuna Therapeutics, Bristol, LIN, CNBC Locations: Bristol
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTeeter: Markets have handled the news and uncertainty well, though valuations are a concern. Robert Teeter, Chief Investment Strategist at Silvercrest Asset Management, notes that markets handle current news and uncertainty well, with decent earnings but concerns about valuations. He expects a period of consolidation due to a lack of new catalysts and the Fed's slow movement. Teeter believes the Fed will be data-dependent, possibly moving 25 basis points and then pausing if inflation slows.
Persons: Robert Teeter, Teeter Organizations: Silvercrest Asset Management
Exxon Mobil 's new businesses aimed at lowering carbon-dioxide emissions are a long-term growth engine that will deliver earnings by the end of the decade, according to UBS. UBS has a 12-month price target of $149 for Exxon, indicating about 22% upside from Friday's close of $121.79 per share. The oil major is investing some $20 billion in a suite of emissions-reducing businesses including carbon capture and storage, biofuels, lithium and hydrogen through 2027. Balanced growth Exxon's $20 billion investment in low-carbon businesses represents about 13% of the company's total capital expenditures through 2027. The company's downstream refining and retail sales business should grow earnings by $4 billion starting in 2027, according to UBS.
Persons: Josh Silverstein, Silverstein, Trump Organizations: Exxon Mobil, UBS, Exxon, U.S, Baytown Hydrogen Locations: U.S, Baytown, That's, Guyana
A London-based hedge fund is betting against Cargojet , Canada's largest cargo airline, citing concerns about the company's aging fleet, accounting practices, and leadership style. Allen also claimed that the company has failed to update the age of its aircraft fleet. The Toronto-listed shares of the company have struggled this year, posting a 2% gain while the broader Canadian stock market has risen by nearly 25%. At the time of Allen's presentation slide titled "Cargojet is expensive," the stock was trading at 27 times earnings and 3.5 times tangible book value. In comparison, traditional airline Lufthansa trades at 7 times earnings, and United Airlines is valued at 9 times earnings estimate.
Persons: Edgar Allen, Ajay Virmani, Allen, they've, Cargojet, They've, Konark Gupta, Gupta, Allen's Sohn, Walter Spracklin, Fadi Chamoun, Chamoun, Drake, Elon Musk, Virmani Organizations: Cargojet, Investment Management, Sohn, United Parcel Service, Federal Express, CNBC Pro, CNBC, Scotiabank, RBC Capital Markets, BMO Research, Lufthansa, United Airlines, Elon Locations: London, Ontario, CJT, Toronto
Samsung Electronics on Wednesday announced changes in the leadership of its memory and foundry chip divisions, as the company faces intense competition in the semiconductor space. The South Korean tech giant appointed Jun Young-hyun as co-CEO and head of the memory chip arm, while Han Jin-man will become the president and head of the company's foundry business. Samsung Electronics was once the leading force in the memory chip sector, and appeared well-positioned to take advantage of the boom in artificial intelligence. Last month, Jun, who has been overseeing the semiconductor division since May, issued a rare apology after the company posted disappointing third-quarter profit guidance. Samsung's chip business posted a sharply lower third-quarter profit compared to the previous quarter.
Persons: Jun Young, Han Jin, Nam Seok Woo, Samsung Organizations: Samsung Electronics, South, Samsung, SK Hynix, Nvidia, Citi, Device Solutions
The strategy "almost always has the highest tax advantage," compared to other giving options, said certified financial planner Sandi Weaver, owner of Weaver Financial in Mission, Kansas. QCD tax break is 'better than a deduction'When filing taxes, you must claim the standard deduction or your total itemized deductions, including charitable gifts, whichever is greater. That means most filers don't claim the charitable deduction. Higher AGI can trigger income-related monthly adjustment amounts, or IRMAA, for Medicare Part B and Part D premiums, Weaver explained. There's a two-year lookback, meaning 2024 premiums are based on MAGI from your 2022 tax return.
Persons: Sandi Weaver, Juan Ros, Weaver, There's Organizations: Weaver, Secure, Financial Management, Medicare Locations: Mission , Kansas, Thousand Oaks , California
If those new retirees take Social Security benefits before their full retirement age — which is 66 to 67, depending on date of birth — they take permanently reduced benefits. The median age for claiming Social Security benefits is 64, according to EBRI. They may lose five years of income, assuming they intended to retire at their full retirement age of 67, Collinson said. They may also lose potential employer-sponsored retirement benefits and additional credits towards their Social Security work history. Reset financial goals after an early retirementPeople who are forced into early retirement may not have a lot of financial flexibility.
Persons: Catherine Collinson, Collinson, They're, Ted Jenkin, Jenkin Organizations: Transamerica Institute, Transamerica Center, Retirement Studies, Social, Social Security, CNBC FA Council Locations: Atlanta
If the IRS has questions about your tax returns or wants to perform an audit, you'll probably be asked to produce your tax records. But of course, it is absolutely not recommended that you skip tax filing or intentionally commit fraud on your tax return. Employment tax recordsBusinesses should keep employment tax records, or payroll records, for at least four years after the last completed tax filing. Tips for organizing and storing recordsThe IRS clearly outlines the guidelines around how long you should keep your tax records. When you're ready to get rid of financial documents or tax records, shredding is the best method.
Persons: you've, Tom Taulli, filers, you'll, Matthew Jenkins, Tanza, Morgan, Read Organizations: Internal Revenue Service, IRS, CFA, CFP, Noble, Finance, Morgan Stanley Wealth Management, Fidelity, BI, Elon University Locations: TheStreet
Tuorto: We have a much more stable economic environment in 2025.
  + stars: | 2024-11-27 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTuorto: We have a much more stable economic environment in 2025. Greg Tuorto, Portfolio Manager at Goldman Sachs Asset Management, highlights a stable 2025 economic environment and better-than-expected earnings. He attributes the success of the Goldman Sachs Small Cap Core ETF to focusing on quality companies.
Persons: Greg Tuorto, Goldman Sachs Organizations: Goldman Sachs Asset Management
CrowdStrike delivered a very good quarter after Tuesday's closing bell, with management raising its full-year outlook on sales, operating income, and earnings. Mortgage rates dropped last week, pushing home loans for purchases up 12% week over week and 52% year over year. Best Buy shares were steady Wednesday morning after their nearly 5% post-earnings drop in the previous session. 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 .
Persons: CrowdStrike, Wells, Donald Trump, Kevin Hassett, Hassett, Stanley Black, Decker, Jim Cramer, We're, — CNBC's Zev Fima, Jim Cramer's, Jim Organizations: Dow, Nasdaq, Street, RBC, Dell, HP, Wall Street, National Economic Council, of Economic Advisers, Apple, Financial Times, Citi, holding's, Disney, Comcast's Universal, Paramount, Comcast, NBC Universal, CNBC, Jim Cramer's Charitable Locations: Wells Fargo, China
Featured High Interest Checking Account Offers Compare checking accounts that offer high APYs, rewards on debit card purchases, or both. UFB Direct Freedom Checking with Portfolio Savings: Earn 2.00% APY on your checking account. High-Yield Savings AccountsThe best high-yield savings accounts provide the security of a savings account with the added bonus of a high APY. A checking account is like a hub for your money: If your paycheck is direct deposited, it's typically to a checking account. 2-Year CDsThe best 2-year CD rates will be slightly lower than 1-year and no-penalty CD rates.
Persons: APYs, , Cash, we've Organizations: Federal Reserve, Cash Locations:
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