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☆ Oil prices are now 'a touch too low' relative to inventory, says Goldman Sachs' Daan Struyven
▼ + stars: | 2024-11-26 | 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 EmailOil prices are now 'a touch too low' relative to inventory, says Goldman Sachs' Daan StruyvenDaan Struyven, Goldman Sachs head of global commodities research, joins 'Squawk Box' to discuss the state of the oil market, impact of energy policies from the incoming Trump administration on the market, production and price outlook, and more.

Persons: Goldman Sachs, Daan, Daan Struyven Organizations: Trump

☆ Hedge fund bets on a key oil and gas supply chain stock, saying it could rise over 300%
▼ + stars: | 2024-11-26 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

London-based hedge fund Granular Capital has revealed a renewed interest Borr Drilling , saying the offshore drilling company's shares could increase by up to 300% or 400%. The hedge fund's thesis centers on Borr's fleet of 24 modern jack-up rigs – specialized vessels used to maintain oil and gas production in shallow waters. Additionally, about one-third of the global jack-up fleet is approaching or has exceeded retirement age, suggesting a likely decrease in available equipment going forward. Singapore, which previously constructed 50% of global jackup rigs, has largely converted its manufacturing capacity to other uses. This week, Seatrium signed an agreement with India's Cochin Shipyard to build jack-up rigs, potentially at a lower cost in the future.

Persons: Thiago Mordehachvili, there's, Mordehachvili, Tor Olav Trøim, Sebastian Grindheim, Borr, Truls Olsen, Evercore, Jason, Granular's Mordehachvili, Seatrium Organizations: Borr, Sohn Conference, NYSE, Arctic Securities, Exxon Mobil, Valeura Energy, Fieldwood Energy, FactSet, Fearnley Securities, CNBC Pro, Keppel Offshore, India's, Shipyard Locations: Norway, Saudi Aramco, Malaysia, Thailand, Mexico, Mordehachvili, Singapore

☆ Adani Group's troubles keep growing as financial and legal headwinds get stronger
▼ + stars: | 2024-11-26 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +2 min

Signage atop the Adani Group headquarters in Ahmedabad, India, on Wednesday, Feb. 1, 2023. Adani Group is staring at trouble on several fronts as investors and partners rethink ties with the Indian conglomerate in the wake of bribery and fraud accusations by U.S. authorities. Fitch Ratings has put several dollar bonds issued by Adani Group companies on its negative ratings watchlist, which means the bonds could potentially be downgraded. "Until such time when the accusations against the Adani group individuals and their consequences have been clarified, TotalEnergies will not make any new financial contribution as part of its investments in the Adani group of companies," the French company said. The U.S. International Development Finance Corp has also said it would review its prior agreements to lend $553 million to a Sri Lankan port development that's backed by the Adani Group.

Persons: Bonds, Leonard Law, Hindenburg, William Ruto, TotalEnergies, Adani Green Organizations: Leonard, Lucro Analytics, CNBC, Fitch, Adani Group, Reuters, Adani, Energy, U.S . International Development Finance Corp, DOJ Locations: Ahmedabad, India, Sri Lankan

☆ What could get more expensive if Trump launches a new trade war with Mexico and Canada
▼ + stars: | 2024-11-26 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +5 min

While leaders of the two nations continue to butt heads, US consumers have paid the price, shelling out more money on goods imported from China. Now Trump is focusing his attention on America’s largest and third-largest trading partners: Mexico and Canada. The 25% tariff Trump floated would have “huge impacts” on gas prices, amounting to an increase between 25 cents to 75 cents per gallon, he said. Said differently, your guac and avocado toast could skyrocket if 25% tariffs are levied on Mexico. Bottom line: It’s going to hurtThe new round of tariffs Trump is prepared to impose comes as the US has grown increasingly reliant on imports from Mexico and Canada.

Persons: Donald Trump’s, Trump, Joe Biden, Brace, Todd Korol, ” Patrick De Haan, Ulises Ruiz, Said, Maurico Palos, tariffs Trump, That’s Organizations: New, New York CNN, Trump, Gas, US Energy Information Administration, Rockies, Produce, Commerce Department, AFP, Getty, United, United Nations ’, General Motors, Ford, General Motors Co, Silao, Bloomberg Locations: New York, America, China, Mexico, Canada, West Coast, Kindersley , Saskatchewan, Great Lakes, Midwest, United States, Cerritos, Ciudad Guzman, Jalisco, Silao, Guanajuato

☆ Insana: Why Wall Street’s rally after Trump’s Treasury pick may be unjustified
▼ + stars: | 2024-11-26 | by ( Ron Insana | ) www.cnbc.com time to read: +4 min

Wall Street's celebration of President-elect Donald Trump's Treasury pick may be a tad premature. The market's resurgence following the Bessent announcement makes for calming copy, but is it the correct assessment of what's to come? It's true that Wall Street veteran Bessent has been a successful money manager. However, Bessent suggested that he is comfortable using tariffs as negotiations to " escalate to de-escalate " the risks of global trade imbalances. But little of what's been discussed about the Treasury Secretary pick supports the rather large rallies we've seen in both stocks and bond prices.

Persons: Donald Trump's, Scott Bessent, Bessent, Trump, We'll, what's, we've, –, Ron Insana Organizations: Donald Trump's Treasury, Dow Jones Industrial, Wall, Bloomberg News, U.S, Trump, Biden, CNBC Locations: China, Mexico, Canada, U.S, Ukraine

☆ Citi upgrades Chevron, says oil giant is trading at a discount to rival Exxon Mobil
▼ + stars: | 2024-11-26 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +1 min

Oil giant Chevron's discount relative to peers has created an attractive entry point, according to Citi. Chevron is up just 7.5% year to date, lagging the S & P 500's 25% advance in that time. Rival Exxon Mobil has also outperformed Chevron, up 20% in 2024. Syme forecasts the valuation gap between Chevron and Exxon Mobil to reach "a historically wide gap" of 20% as soon as 2026. If the arbitration panel rules in favor of Exxon, Chevron's merger deal with Hess, announced earlier this year, will not close.

Persons: Alastair Syme, Syme, Hess, CNBC's Michael Bloom Organizations: Citi, Chevron, Exxon Mobil, ExxonMobil, Exxon Locations: Chevron, Guyana, Namibia, Kazakhstan

☆ Hong Kong is becoming a hub for financial crime, US lawmakers say
▼ + stars: | 2024-11-26 | by ( Nectar Gan | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —Hong Kong has become a center for money laundering and sanctions evasion under the tightening grip of Beijing, US lawmakers have warned, calling for a re-evaluation of America’s close business relationship with the Asian financial hub. “We must now question whether longstanding US policy towards Hong Kong, particularly towards its financial and banking sector, is appropriate,” they added. Rubio, a fierce critic of Beijing’s crackdown on Hong Kong, has sponsored legislation that sanctioned Chinese and Hong Kong officials for alleged human rights violations in the city. This has massive implications for US businesses with big exposure to Hong Kong,” Fish said. “Sadly, the idea of Hong Kong as autonomous from China is now a farce … US companies need to understand that their Hong Kong operations will likely fall under increased scrutiny.”

Persons: Janet Yellen, ”, “, Donald Trump, Hong Kong, John Moolenaar, Raja Krishnamoorthi, Trump, Marco Rubio, Rubio, Scott Bessent, Isaac Stone Fish, Bessent –, ” Fish Organizations: Hong Kong CNN, CNN, US Treasury Department, Hong, European Union, Treasury Department, Republican Rep, White, US Locations: Hong Kong, Beijing, China, Washington, Hong, Russia, North Korea, People’s Republic of China, Iran, Ukraine, Russian, United Kingdom

☆ Trump said he'll charge up to an extra 25% on imports from Mexico, Canada, and China. Here's what the US buys from them the most.
▼ + stars: | 2024-11-26 | by ( Ayelet Sheffey | Madison Hoff | ) www.businessinsider.com time to read: +5 min

AdvertisementPresident-elect Donald Trump is expanding his plans for tariffs on Mexico, China, and Canada. Trump's tariff plans could face legal issues, and he may choose not to implement them. The Census Bureau reported that in 2023, the US imported a total of about $1.3 trillion in goods from China, Mexico, and Canada combined. AdvertisementSome companies have already been preparing to increase prices as a result of Trump's tariff plans on the campaign trail. Trump wrote of the Mexico and Canada tariffs.

Persons: Donald Trump, Donald Trump's, Trump, John David Rainey, François Legault, Arturo Sarukhan, — Organizations: Business, Census Bureau, Walmart, CNBC, Trump, Companies Locations: Mexico, China, Canada, Quebec, United States, Mexican

☆ We're able to 'carve a competitive path' using the China Plus One strategy: IOI CEO
▼ + stars: | 2024-11-26 | 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 EmailWe're able to 'carve a competitive path' using the China Plus One strategy: IOI CEOLee Yeow Chor, CEO of IOI Corporation, says he is positive the palm oil-producing company won't be negatively affected by rising geopolitical tensions.

Persons: Lee Yeow Chor Organizations: China, IOI Corporation

☆ Omead Afshar, a longtime Elon Musk loyalist, takes the wheel at Tesla
▼ + stars: | 2024-11-26 | by ( Grace Kay | Katherine Long | ) www.businessinsider.com time to read: +10 min

As Musk increasingly turns his attention to politics, Afshar is set to help shepherd Tesla through this volatility. AdvertisementOver the seven years he has spent working for Musk, Afshar has emerged as one of the billionaire's most loyal lieutenants, driven and singularly focused on his goals. Years before Tesla, Afshar studied biomedical engineering at the University of California, Irvine, and worked as a ski instructor. At Tesla and other Musk companies, he said, "the mission is good, and what we're trying to do is right." AdvertisementThe four current and former colleagues said Afshar became lower profile at Tesla in 2022 but continued to work closely with Musk.

Persons: Omead Afshar, Afshar, Elon Musk, Musk, Tesla, Donald Trump, Aly Song, Seth Sharp, Drew Baglino, Rebecca Tinucci, Tom Zhu, Zhu, Elon, Sharp, Omead, Behrad Vahidi, Tesla's, Suzanne Cordeiro, Jared Birchall, Walter Isaacson Organizations: North, Reuters, Tesla, University of California, Bloomberg, Street Journal, of Justice, Securities and Exchange Commission, SEC, DOJ, SpaceX, Financial Times, Twitter Locations: Austin, Germany, North America, Europe, China, Elon, Irvine, Westlake, Los Angeles, San Francisco, Texas, Austin , Texas, Shanghai

☆ Donald Trump selects Kevin Hassett to lead National Economic Council
▼ + stars: | 2024-11-26 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

White House Council of Economic Advisers Chairman Kevin Hassett addresses reporters during the daily briefing at the White House in Washington, U.S. February 22, 2018. President-elect Donald Trump picked Kevin Hassett to lead the National Economic Council, a role that puts him at the center of the administration's policy-making discussions from trade to taxes and deregulation. The move brings Trump closer to rounding out his economic team, with U.S. trade representative being the last of the key positions left. During Trump's first administration, Hassett served as the chairman of the Council of Economic Advisers for two years, supporting the Republican's corporate tax cuts and defending Trump's punitive tariffs. Hassett previously served as a scholar of fiscal policy at the conservative American Enterprise Institute think tank before Trump nominated him to the White House role in 2017.

Persons: Kevin Hassett, Donald Trump, Trump, Hassett, Trump's, Jared Kushner, Scott Bessent Organizations: White, Council, Economic, National Economic Council, Trump, U.S, of Economic Advisers, American Enterprise Institute, Group Locations: Washington , U.S, Mexico, Canada

☆ Barclays says these global stocks are ripe for share buybacks — and analysts give one 45% upside
▼ + stars: | 2024-11-26 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +2 min

"As we approach the end of the earnings season, we anticipate more companies will re-engage in share repurchases in the coming weeks," Barclays' strategists added. Sectors with the greatest concentration of buybacks include consumer staples, financials and energy, Barclays' strategists noted. This gives the stock upside potential of around 45%. Analysts' average target price on the stock is 989.89 Danish krone ($139.20), giving it 32% potential upside, according to FactSet data. Their average target price is £31.34 ($39.43), implying around 20% upside potential.

Persons: Donald Trump, — CNBC's Michael Bloom Organizations: Barclays, Companies, Novo Nordisk, Shell Locations: Europe

U.S. President-elect Donald Trump at a viewing of a test-flight launch of the SpaceX Starship rocket in Brownsville, Texas, Nov. 19, 2024. Brandon Bell | Getty Images News | Getty ImagesAs Inauguration Day nears, investors are trying to unravel what booms or busts lay ahead under President-elect Donald Trump. Yet the energy sector climbed 22.9% under Biden as of Nov. 19, despite the administration's push for renewables and sustainability. As president, Trump is expected to embrace crypto more than any of his predecessors. When Biden won in 2020, there was a lot of panic about the outlook for energy, oil and gas.

Persons: Donald Trump, Brandon Bell, Jeremy Goldberg, Goldberg, Larry Adam, Raymond James, Trump, Adam, Biden, Monty Rakusen, John Murphy, Murphy, Callie Cox, Cox, Greg Iacurci Banks, Jamie Dimon, Andrew Harrer, Brian Spinelli, Halbert Hargrove, Spinelli, David Rea, Lorie Konish, Bill Varie, —, — Greg Iacurci Crypto, Kevin Wurm, Matt Apkarian, Apkarian, Christina Lynn, there's, Lynn, — Lorie Konish, Cooper Neill, Joe Biden, Mike Cerasoli, Cerasoli, you'll, — Lorie, Images Trump, Robert F, Kennedy Jr, bode, David Weinstein, Weinstein, Chris Unger, Charles, Vivek Ramaswamy, Greg Iacurci, Thomas Barwick, Ted Decker, Decker, TJ Maxx, Lorraine Hutchinson, — Greg Iacurci, Donald J Organizations: SpaceX, Getty, Trump, Professional Advisory Services, Digitalvision, EV, Biden, Bank of America Securities, Ford, Ritholtz Wealth Management, U.S . Federal, JPMorgan Chase &, White, Bloomberg, CNBC, Salem Investment, Bank, — Greg Iacurci Crypto Republican, Reuters, bitcoin, Liberty Financial, Cerulli Associates, Mariner Wealth, — Lorie Konish Energy, Double Eagle Energy Holdings LLC, Eagle Global Advisors, Images, Department of Health, Human Services, RFK, U.S . Senate, Merck, Pfizer, Dana Investment, Affordable, Publicly, HCA Healthcare, UFC, Madison, Garden, Ufc, Medical, Charles River Laboratories, Food and Drug Administration, of Government, Retailers, Walmart, Marshalls, Google, Twitter, Trump National Golf Club, Washington Post Locations: Brownsville , Texas, California, U.S, Iran, Venezuela, Washington, Long Beach, Calif, Salem, Winston, Salem , North Carolina, Ritholtz, Nashville , Tennessee, cryptocurrency, Lynn, Midland , Texas, Houston, New York, China, North America, HomeGoods, Bedminster , NJ, Jabin

☆ Here are Tuesday's biggest analyst calls: Nvidia, Apple, Zoom, Goldman, Amazon, Chevron & more
▼ + stars: | 2024-11-26 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Here are the biggest calls on Wall Street on Tuesday: Wells Fargo upgrades Eastman Chemical to overweight from equal weight Wells Fargo says the chemical company is "attractive." HSBC downgrades Goldman Sachs & Morgan Stanley to hold from buy HSBC said the risk/reward is a less attractive. KeyBanc reiterates Nvidia as overweight The firm says it sees "limited competitive risks" for Nvidia shares. Wells Fargo reiterates Starbucks as overweight Wells raised its price target on the stock to $115 per share from $110. Redburn Atlantic Equities reiterates Amazon as buy The firm raised its price target on the stock to $235 per share from $225.

Persons: Wells Fargo, HSBC downgrades Goldman Sachs, Morgan Stanley, Baird, Bernstein, KeyBanc, it's bullish, TD Cowen, Pinterest, Cowen, Wells, Guggenheim, Michael Kors, UAL Organizations: Eastman Chemical, UBS, HSBC, Royal Caribbean, Nvidia, Bank of America, Citi, Chevron, ExxonMobil, SPX, JV, China, Guggenheim, Capri Holdings, Barclays, Apple, and Department of Justice, Google, DoJ, UBS reinstates United, Alaska Airlines, Amazon Web Services, Anheuser, Busch InBev, GAP Locations: Caribbean, China, Delta, DAL

☆ Why green investments have become the last line of defense for Biden’s climate agenda
▼ + stars: | 2024-11-26 | by ( Ronald Brownstein | ) edition.cnn.com time to read: +20 min

CNN —Can the green shoots of clean energy break through the “brown blockade”? Those huge current and planned investments in new manufacturing plants may represent the sole opportunity to preserve any elements of Biden’s blueprint for growing the domestic clean energy industry. Republican districts are slated to receive an equally large share of another $435 billion in clean energy projects that have been announced but not yet built, the analysis found. The US reliance on the fossil fuels driving climate change has been declining for years, but only at a modest pace. Yet interrupting that transition by repealing the federal policies benefiting clean energy remains a dangerous gamble.

Persons: Donald Trump, Trump, Joe Biden’s, Biden –, ”, Lori Lodes, ‘, I’ve, Trump’s, Tammy Baldwin, John Fetterman, Kamala Harris, Chris Wright, ’, Lee Zeldin, Elizabeth Conley, “, Jason Walsh, ” Lodes, Robert McNally, George W, Bush, McNally, Walsh, ” Walsh, Joseph Shapiro, Shapiro, EVs, Ben King, King, ” King, ” Shapiro Organizations: CNN, GOP, Republican, Climate Power, Trump, federal Energy Information Administration, Senate, Electoral College, Energy Information Administration, Democratic, Biden, ExxonMobil, Environmental Protection Agency, “, Massachusetts Institute of Technology, Rosendin, Houston Chronicle, Power, BlueGreen Alliance, Republicans, Hyundai, Bloomberg, Getty, University of California Locations: America, United States, Wyoming , Louisiana, North Dakota, West Virginia, Alaska , Montana , Oklahoma, Texas, Iowa, Nebraska, Kansas, Ohio, Indiana , Michigan, Wisconsin, Massachusetts, New York, Virginia, Maryland, Washington , Oregon, California, West Virginia , Montana and Ohio, Pennsylvania, New Mexico, Michigan, – Michigan, Washington, Liverpool , Texas, Georgia, Ellabell , Georgia, Berkeley

☆ Contentious COP29 deal shows climate cooperation fraying at edges
▼ + stars: | 2024-11-25 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +7 min

When COP29 President Mukhtar Babayev stepped to the podium at the closing meeting of the Baku climate summit on Sunday morning, hoping to clinch a hard-fought agreement on global climate finance, he carried with him two speeches. Expectations for a deal were depressed by worries of a looming U.S. withdrawal from global climate cooperation, geopolitical turmoil, and a rise of isolationist politics that had shunted climate change off much of the world’s top priorities list. An activist holds a globe balloon during a protest at the COP29 United Nations climate change conference, in Baku, Azerbaijan, on Nov. 21. That made getting a bigger climate finance number hard, observers to the talks said. “Even maintaining climate finance at current levels in the current political environment is a huge fight,” said Joe Thwaites, senior advocate on international climate finance at the Natural Resources Defense Council, an environmental group.

Persons: Mukhtar Babayev, —, Babayev, Maxim Shemetov, ”, Eliot Whittington, Jiwoh Abdulai, Donald Trump, “, Dion George, Trump, Joe Thwaites, ” Tina Stege, Chandni Raina, Oscar Sorria Organizations: Reuters, COP29, Cambridge Institute for Sustainability Leadership, Sierra Leone Environment, Trump, United, African Environment, Natural Resources Defense Council, Marshall, Babayev, COP30, Initiative Locations: Baku, Azerbaijan, U.S, Nations, Brazil, Belem —, Sierra Leone, United States, Paris, Ukraine, Belem

☆ Flight attendants share secrets to surviving holiday travel
▼ + stars: | 2024-11-25 | by ( Francesca Street | ) edition.cnn.com time to read: +28 min

But it doesn’t have to, just ask the world’s flight attendants. “It’s important for flight attendants to know who is sitting in what seats,” she says. And during those quieter moments, he says flight attendants “honestly love to talk to passengers.”We love when people come back and talk to us. Liz SimmonsFor flight attendants, interacting with the occasional famous face is just part of the job. While gifts are thoughtful, flight attendants don’t expect them, and especially not extravagant ones.

Persons: anyone’s, Hunter Smith, Lihas, Liz Simmons, you’ve, Elijah Nouvelage, Smith, “, ”, you’re, Kamil Krzaczynski, Simmons, Mike Blake, FlightRadar, “ It’s, you've, Joshua Lott, don’t, Kent Nishimura, “ I’m, who’s, they’ve, it’s, — Simmons, ” Smith, there’s, — isn’t, ” Simmons, “ It’ll, Alexander Spatari, ” I’ve, who’ve, lister, I’ve, she’s, everyone’s, Liz Simmons “, ’ Simmons, Kevin Lamarque, “ I’ve, They’re Organizations: CNN, Reuters, Getty, Facebook, Los Angeles Times, Netflix, Hallmark, Hollywood, “, Disney Locations: Florida, AFP, earshot, Greece, You’re, London, New York, “

☆ Can U.S. and other countries reach a deal on curbing plastic pollution?
▼ + stars: | 2024-11-25 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +4 min

Instead, talks will be focused on chemicals of concern and other measures after petrochemical-producing nations such as Saudi Arabia and China strongly opposed efforts to target plastic production over the protests of countries that bear the brunt of plastic pollution. The U.S. delegation did not answer questions on whether it would reverse its new position to support plastic production caps. Climate Change Conference this month that despite not producing any plastic, Fiji is bearing the brunt of its downstream pollution. While supporting an international treaty, the petrochemical industry has been vocal in urging governments to avoid setting mandatory plastic production caps, and focus on solutions on reducing plastic waste, such as recycling. “We would see a treaty successful if it would really put ... emphasis on ending plastic pollution.

Persons: Luis Vayas Valdivieso, ”, Donald Trump, Inger Andersen, Sivendra Michael, Martin Jung Organizations: Intergovernmental, European Union, High Ambition Coalition, U.S, White, Council, Environmental, Environment, Reuters, BASF, Industry Locations: Busan, South Korea, Ottawa, Saudi Arabia, China, COP29, ”, States, Kenya, Peru, Fiji, France, Barbados

☆ Jim Cramer examines Wall Street's reaction to Trump Treasury secretary pick
▼ + stars: | 2024-11-25 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Monday reviewed investors' reaction to President-elect Donald Trump's latest cabinet pick, hedge fund manager Scott Bessent. His takeaway is that Wall Street believes the potential Treasury secretary will be a prudent force in the administration. "What matters is that this Treasury secretary designate is a serious person, not unlike Steven Mnuchin before him," he said "And those who believed Trump couldn't get a dollop of rigor in the cabinet — well, they've been proven wrong." Cramer also pointed out that Treasury yields fell, with the 10-year sliding to about 4.28% when investors were worried about it hitting 4.5% a few days ago. "That's where Scott Bessent, the Treasury Secretary designate, comes from, so the fence sitters and skeptics are jumping on the Trump bandwagon as if the president elect said, 'higher stock prices and lower taxes for all.'"

Persons: CNBC's Jim Cramer, Donald Trump's, Scott Bessent, Steven Mnuchin, Trump, they've, Cramer, George Soros, Bessent, Shinzo Abe, That's Organizations: Dow Jones Industrial, Treasury, Trump

☆ Here's why our lone energy stock is falling despite a surge in natural gas prices
▼ + stars: | 2024-11-25 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

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. 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. 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.

Persons: Jim Cramer, Donald Trump's, Scott Bessent, Bessent, it's, Stanley Black, Decker, Stanley, Trump's, We're, Trump, we're, we'll, JM Smucker, Jim Cramer's, Jim Organizations: CNBC, Stanley, EBW, Reuters, Biden, LNG, Coterra Energy, Abercrombie, Fitch, Burlington Stores, Dick's Sporting Goods, Jim Cramer's Charitable Locations: China, Israel, Kohl's

☆ U.S. oil supply increases will be 'marginal' with Trump 2.0, says strategist
▼ + stars: | 2024-11-25 | 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 EmailU.S. oil supply increases will be 'marginal' with Trump 2.0, says strategistVikas Dwivedi, global energy strategist at Macquarie Group, says the real issue is whether the world needs that much oil.

Persons: Vikas Dwivedi Organizations: Trump, Macquarie Group

☆ Trump’s Middle East Envoy Has Prior Ties to Oil-Rich Nations There
▼ + stars: | 2024-11-25 | by ( Eric Lipton | ) www.nytimes.com time to read: +1 min

Steven Witkoff, the billionaire New York real estate executive whom President-elect Donald J. Trump has named as his special envoy to the Middle East, was in a jam. But there was a two-part rescue of sorts from the kind of real estate angels that New York property investors have increasingly turned to. First, Abu Dhabi’s sovereign wealth fund expanded its stake in the troubled hotel, Park Lane, which sits at the southern edge of Central Park. Then, in an even more crucial move, the Qatar Investment Authority last year dispatched $623 million as a leveraged buyout of Mr. Witkoff and his partners. The transactions — involving two oil-rich sovereign wealth funds from the Middle East — are a hint of the enormous flow of dollars pouring into U.S. real estate firms from entities associated with countries like Qatar, the United Arab Emirates, Saudi Arabia and Kuwait.

Persons: Steven Witkoff, Donald J, Trump, Witkoff’s, Abu, Witkoff Organizations: New, Justice Department, Qatar Investment Authority, Mr, United Arab Locations: New York, Manhattan, Park, Central, Qatar, United Arab Emirates, Saudi Arabia, Kuwait

☆ Jim Cramer warns of market 'excess' as stocks surge
▼ + stars: | 2024-11-25 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Monday described signs of "excess" he sees across market sectors, saying these widespread dramatic gains make him somewhat apprehensive, warning investors not to get too greedy. "If you had the good fortune to participate in some of these seemingly excessive moves, I think you should give thanks to your gains," he said. While it's normal for the averages to rise following election day's "Republican sweep" — as Wall Street expects deregulation and lower taxes — Cramer pointed out that many roaring stocks aren't well-known or members of the Magnificent Seven. He also looked at "Trump trades," or stocks that Wall Street has embraced as they anticipate what President-elect Donald Trump's term, like private prison operators and oil service companies. "So, take what's been given to you, give thanks for your gains, and make sure you're not letting wins turn into losses."

Persons: CNBC's Jim Cramer, day's, — Cramer, Donald Trump's, Cramer Organizations: Trump

☆ Trump ups the ante on tariffs, vowing massive taxes on goods from Mexico, Canada and China on Day 1
▼ + stars: | 2024-11-25 | by ( David Goldman | ) edition.cnn.com time to read: +6 min

CNN —President-elect Donald Trump on Monday promised massive hikes in tariffs on goods coming from Mexico, Canada and China starting on the first day of his administration. What America importsThe United States’ top import from Canada is oil, which reached a record 4.3 million barrels per day in July, according to the US Energy Information Administration. The United States imports a significant amount of electronics from China, in addition to machinery, toys, games, sports equipment, furniture and plastics. The Trump tariffs also hit foreign steel, aluminum, washing machines and solar panels. He did just that when he was last in the White House, placing large tariffs on goods, primarily from China.

Persons: Donald Trump, Trump, ” Trump, “, ”, Liu Pengyu, ” Liu, Dow, Karl Schamotta, United Nations ’, It’s, Scott Bessent, Bessent’s, Trump’s, CNN’s Matt Egan, Jack Forrest Organizations: CNN, United, Embassy, United States, Canadian, Nasdaq, Treasury, America, US Energy Information Administration, United Nations, Commerce Department, Peterson Institute for International Economics, Senate, Commerce, US Trade Representative Locations: Mexico, Canada, China, “, United States, United, America

☆ Can Saudi Arabia keep pace with its ambitious mega-project spending spree?
▼ + stars: | 2024-11-25 | by ( Natasha Turak | ) www.cnbc.com time to read: +6 min

Digital render of NEOM's The Line project in Saudi Arabia The Line, NEOMIn Saudi Arabia's northwestern desert, a sprawling construction site replete with cranes and pile drivers sits encircled by a recently-built road. The changes come as the Saudi deficit grows and the outlook for oil demand, along with global oil prices, sees sustained lows. Construction for The Line project in Saudi Arabia's NEOM, October 2024 Giles Pendleton, The Line at NEOMThat begs the question: does Saudi Arabia have enough money to meet its lofty goals? Saudi Arabia has poured tens of billions into projects that have yet to hint of any financial returns." Saudi Arabia has an A/A-1 credit rating with a positive outlook from S&P Global Ratings and an A+ rating with a stable outlook from Fitch.

Persons: Prince Mohammed bin Salman, Saudi Arabia's NEOM, Giles Pendleton, Andrew Leber, Leber, Mohammed Al, Jadaan Organizations: Saudi, Public Investment Fund, CNBC, Tulane University, Saudi Finance, Fitch, —, P Global, Al Locations: Saudi Arabia, NEOM, Saudi, Neom, Saudi Arabia's, Riyadh

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