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☆ Matt Gaetz: Florida court fight gives insight into the House review of sex allegations
▼ + stars: | 2024-11-18 | by ( Paula Reid | Tierney Sneed | ) edition.cnn.com time to read: +9 min

The House Ethics Committee probe into Gaetz, initially launched in 2021, ran into several obstacles, including a lack of access to records collected by a federal criminal investigation into Gaetz. In addition to the House Ethics Committee investigation, Gaetz was separately investigated by the US Justice Department for alleged sex trafficking, obstruction of justice and other potential crimes, but prosecutors declined to bring any charges. The House committee abandoned plans for a closed-door meeting Friday, when lawmakers were expected to consider the release of the report. When asked about the friend’s claim she had sex with Gaetz, Dorworth suggested in the deposition that both women made up their stories. Resignation brings House probe to a haltThe House Ethics Committee probe was started by House Democrats in 2021 but was put on hold while the Justice Department completed its criminal investigation.

Persons: Donald Trump’s, Matt Gaetz, Gaetz, –, Trump, “, ” Gaetz, ”, Joel Greenberg, Greenberg, Gaetz –, Kevin McCarthy, Christopher Dorworth, Dorworth, Johnson, Tapper, ” Dorworth, CNN’s Casey Gannon, Annie Grayer Organizations: CNN, President, Florida Republican, US Justice Department, Committee, DOJ, Department, Trump, Florida House, Justice Department, Miami Herald, House Democrats, Hill Locations: Florida, Orlando federal, ”, Seminole, Bahamas

☆ China is racing towards a future powered by wind and solar
▼ + stars: | 2024-11-18 | by ( Ella Nilsen | Hien An Ngo | ) edition.cnn.com time to read: +7 min

China is installing wind and solar power projects faster than any other country on the planet. It’s not that China is using less energy — it’s using more than ever — but it’s just adding wind and solar power to its grid at an astonishing pace. The country is constructing two-thirds — nearly 339 gigawatts — of the world’s utility-scale solar and wind projects. That is in addition to the 758 gigawatts of wind and solar capacity it has already built, according to the Global Energy Monitor. Wind and solar are now capable of generating 37% of the country’s power, according to Global Energy Monitor, already displacing coal’s dominance.

Persons: Donald Trump, It’s, “, ”, Jonathan Pershing, William, Flora Hewlett, John Podesta, ” Podesta, Xi Jinping, hasn’t, Xia Yingxian, ” Li Shuo, Shuo, ” Shuo Organizations: CNN, Department, Global Energy Monitor, International Energy Agency, White, US, State Department, China’s Ministry of Foreign Affairs, Climate, Asia Society Policy Institute Locations: Mongolia, China, Europe, Africa, Podesta, Paris, China’s

☆ The admitted and investigated drug use in some of Trump’s top picks
▼ + stars: | 2024-11-18 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +6 min

CNN —President-elect Donald Trump’s Cabinet picks are unique for many reasons. Kennedy brings his addiction worldview to prescription drugs such as those overseen by the Food and Drug Administration, which he would oversee if confirmed as HHS secretary. But Musk denied allegations of past drug use as reported in The Wall Street Journal early this year. Federal employees are barred from taking illegal drugs, and there are no reports to indicate that any of Trump’s Cabinet or other administration picks are using illegal drugs. CNN has reported that this year, Trump’s team is bypassing long and cumbersome FBI background checks for some of his Cabinet picks.

Persons: Donald Trump’s, Matt Gaetz, It’s, –, Gaetz, Robert F, Kennedy Jr, Kennedy, Kurt Andersen, ” Elon Musk, Matthew Perry, Joe Rogan’s, Musk, Larry Kudlow, Hunter, Hunter Biden, Trump, Fred, Theo Von’s “, ” Von, Von, Sackler, Xi Jinping, Biden, Joe Biden, Florida’s Organizations: CNN —, Drug Enforcement, Department of Health, Human Services, Harvard University, Food and Drug Administration, Fox News, “ Department, Government, NASA, SpaceX, Street, Trump, CNN, Biden White, of Justice, Supreme, Purdue Pharma, Republican Locations: Florida, South Dakota, China, Mexico

☆ What is impoundment? How Trump thinks he can control spending without Congress
▼ + stars: | 2024-11-18 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +6 min

CNN —“Impoundment” is another word that Americans may need to learn in the vernacular of President-elect Donald Trump’s second term. Trump took the time to record a video about impoundment during the Republican primary season, and he promised seizing control over spending from Congress would be a top priority if he was elected. Impoundment occurs when Congress appropriates money that the president then declines to spend. As a result of these standoffs, Congress passed a law to curtail a president’s use of impoundment, particularly for policy reasons. The Impoundment Control Act of 1974 did a lot more than that, however.

Persons: Donald Trump’s, ”, Trump, Thomas Jefferson, Richard Nixon, Nixon, Volodymyr Zelensky, Joe Biden, Trump’s, “, Vivek Ramaswamy, Elon Musk, DOGE –, Ramaswamy, ” Ramaswamy, Matt Gaetz, Jimmy Carter, It’s Organizations: CNN, Senate, Republican, Congress, Congressional Research Service, Office, Capitol, Supreme, overreach, Elon, “ Department, Government, Alcohol, Tobacco, Firearms, Explosives, Ramaswamy, Department of Education, Nuclear Regulatory, Trump, FBI Locations: Mississippi, Louisiana, France, Ukraine, Trump’s, Ohio, Washington

☆ Brendan Carr wrote the FCC chapter in ‘Project 2025.’ Now he’s Trump’s pick for the agency
▼ + stars: | 2024-11-18 | by ( Brian Stelter | ) edition.cnn.com time to read: +7 min

New York CNN —President-elect Donald Trump’s pick for chairman of the Federal Communications Commission, Brendan Carr, wasted no time in stating his priorities on Sunday night. Carr is now the senior Republican at the agency, which meant he was widely expected to get the chairman appointment. As chairman, Carr may be able to steer generous federal subsidies to Starlink. In his Project 2025 chapter, Carr laid out an agenda for the federal agency under a future Trump administration. The FCC chairman during Trump’s first term in office, Ajit Pai, had a very different set of priorities.

Persons: Donald Trump’s, Brendan Carr, Carr, ” Carr, Elon Musk, ”, Trump, NewsGuard, hasn’t, “ Carr, Gigi Sohn, Tom Wheeler, Trump’s, Ajit Pai, Pai, Jessica Rosenworcel, can’t Organizations: New, New York CNN, Federal Communications Commission, FCC, Democrats, Republican, Politico, Elon, Facebook, Twitter, Meta, Microsoft, Apple, Trump, Communications, Free Press, Democratic, Democrat Locations: New York, Big Tech

☆ Nearly 40% of young Americans get their news from influencers. Many of them lean to the right, study finds
▼ + stars: | 2024-11-18 | by ( Liam Reilly | ) edition.cnn.com time to read: +5 min

New York CNN —Young American adults are increasingly getting their news from social media influencers, a majority of whom are men and lean to the right, according to a new study from the Pew Research Center. On Facebook, there were three times as many explicitly conservative news influencers (39% to 13%), and on Instagram conservatives outnumbered liberals, 30-25%. “Many Republicans have long believed that social media sites censor conservative viewpoints. Social media influencers differ from trained journalists in how they report facts, often weaving their own views into current events or presenting opinions as reportable facts. The gender gap was found across most social media platforms, including YouTube, Facebook, X, and Instagram, where men outnumbered women two to one.

Persons: New York CNN —, “, influencers ”, Joe Rogan, Alex Cooper, Kamala Harris, Donald Trump, ” Galen Stocking, ” Pew, influencers, they’ve, Trump, Pew, TikTok, Elon Musk, Bluesky Organizations: New, New York CNN, New York CNN — Young, Pew Research Center, Pew, “, Trump, Facebook, Republicans, Social, YouTube Locations: New York, influencers, Beijing

☆ China to front-load 2025 local government special bonds quota, report says
▼ + stars: | 2024-11-18 | by ( ) www.cnbc.com time to read: +1 min

BEIJING, CHINA - SEPTEMBER 04: Buildings and vehicles are seen in the central business district during the rush hour on September 4, 2020 in Beijing, China. China's finance ministry is planning to front-load part of the 2025 local government special bonds quota to meet funding needs for major infrastructure projects, state-backed The Securities Times reported on Monday. The State Council, China's cabinet, typically determines and issues an advance allocation of new local government debt quotas for the following year in the fourth quarter, depending on economic conditions, the report said. By the end of October, local governments had issued 3.9 trillion yuan ($539 billion) in new special bonds, almost completing debt issuance under the 2024 quota, the report added. Earlier this month, China unveiled a 10 trillion yuan debt package to ease local government financing strains and stabilise flagging economic growth, as it faces fresh pressure following the re-election of Donald Trump as U.S. president.

Persons: Donald Trump Organizations: Securities Times, State Council, Ministry of Finance, Beijing Locations: BEIJING, CHINA, Beijing, China

☆ Trump picks former congressman and Fox Business host Sean Duffy as next Transportation secretary
▼ + stars: | 2024-11-18 | by ( Kate Sullivan | ) edition.cnn.com time to read: +3 min

CNN —President-elect Donald Trump announced Monday he has selected former congressman and recent Fox Business co-host Sean Duffy to serve as the next secretary of the Department of Transportation. He most recently was co-host of Fox Business’ “The Bottom Line,” after first joining Fox News as a contributor in 2020. Wednesday marked his last day appearing on Fox Business, and he interviewed for the role of transportation secretary later in the week, according to a source. In the role, Duffy would takeover the department from Secretary Pete Buttigieg, who was named to lead the department in February 2021. Campos-Duffy is the co-host of “Fox & Friends Weekend,” where she worked for years alongside Pete Hegseth, Trump pick for defense secretary.

Persons: Donald Trump, Sean Duffy, Duffy, Duffy’s, ”, “, ” Trump, Pete Buttigieg, Elaine Chao, Duff, Rachel Campos, Campos, Pete Hegseth, Trump, CNN’s Brian Stelter Organizations: CNN, Fox Business, Department of Transportation, Congressional, Fox News, Trump, Republican, ”, Competence, Competitiveness, Beauty, National Security, ESPN, Fox, MTV, “ Fox, Friends, Republicans Locations: Ashland County , Wisconsin

☆ Trump’s pick for fracker-in-chief will have a tough time pumping a lot more oil
▼ + stars: | 2024-11-18 | by ( Auzinea Bacon | Chris Isidore | ) edition.cnn.com time to read: +4 min

Trump has said he wants to lower gas prices — which currently average $3.07 per gallon — to below $2 a gallon. But the American oil industry is already booming and increasing output doesn’t mean gas prices will drop. After oil prices shot up in 2022 in the wake of Russia’s invasion of Ukraine and the sanctions on Russian oil imposed by western countries, major oil companies reported record profits. But are we going to increase oil production by another 50%? OPEC+, a group of leading oil-producing countries, even delayed plans to increase production because of concerns about excess supply.

Persons: Donald Trump, ” Trump, Trump, Chris Wright, Wright, Andy Cross, Andy Lipow, ” Lipow, “ It’s, Biden, ”, Bob McNally, George W, Bush, CNN’s David Goldman, Matt Egan Organizations: CNN, Liberty Energy, Liberty, Denver Post, US Energy Information Administration, P, Insights, Eurasia Group, Texas Intermediate, OPEC, Lipow Oil Associates, Energy, Oil Locations: Denver, States, Saudi Arabia, Russia, Eurasia, Ukraine, China, OPEC

☆ House Ethics panel to meet on Trump attorney general pick Matt Gaetz report Wednesday
▼ + stars: | 2024-11-18 | by ( Dan Mangan | ) www.cnbc.com time to read: 1 min

The House Ethics Committee will meet Wednesday to discuss its report on former Rep. Matt Gaetz, who has been tapped by President-elect Donald Trump to be the next attorney general, NBC News reported Monday. Several key Republican senators want the report on Gaetz released to the Senate for their consideration on whether to confirm him for the AG post, if and when Trump formally nominates him. The Ethics Committee had been investigating Gaetz for alleged sexual misconduct and potential illegal drug use, and other actions. The panel had been scheduled to meet last Friday on the report but postponed that session. Gaetz, who represented a Florida congressional district, resigned abruptly from the House last week after Trump said he would nominate him for AG.

Persons: Matt Gaetz, Donald Trump, Gaetz, Trump Organizations: NBC News, Senate, Trump, AG Locations: Florida

☆ 1 in 5 Americans get their news from social media influencers
▼ + stars: | 2024-11-18 | by ( Kristian Burt | In | ) www.cnbc.com time to read: +7 min

Getty ImagesAbout 1 in 5 Americans say they regularly get their news from "news influencers" on social media, according to a new study by the Pew Research Center. Social media site X remained the most popular, with 85% of influencer respondents reporting they were on the site. Risk of misinformationQuestions around the influence of independent social media creators on politics erupted prior to and after the presidential election. Both candidates utilized social media to reach younger voters, most notably when President-elect Donald Trump appeared on Joe Rogan's podcast and Vice President Kamala Harris joined the "Call Her Daddy" podcast — both podcasts with large followings on social media. Network interviews in recent elections have tended to be more combative than those conducted on independent podcasts or social media accounts, Darr said.

Persons: Galen Stocking, influencers, Basil Smikle, Smikle, Pew, Instagram, TikTok, Donald Trump, Joe Rogan's, Kamala Harris, Alex Cooper, Joshua Darr, Darr, Alaina, it's, Hurricane Helene, Wood, Joe Rogan, Matteo Recanatini, he's, That's, MAGA, Recanatini Organizations: Pew Research Center, CNBC, Democratic, Columbia, YouTube, Pew, Facebook, US, Republican, Trump National Doral, Getty Locations: Syracuse, Tennessee, Trump National Doral Miami, Miami , Florida

☆ Morningstar names cheap stocks in a sector that 'deserves a place in everybody's portfolio'
▼ + stars: | 2024-11-18 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +2 min

Top Morningstar strategist David Sekera says there's one sector that "deserves a place in everybody's portfolio" right now — the energy sector. Stocks Sekara is betting on within the energy theme include Exxon Mobil and Devon Energy . Morningstar has a four-star rating on Devon Energy and says it is trading at a 22% discount to fair value. The investment research company gives stocks a rating of between one and five stars, with a top rating indicating that the shares are undervalued. Sekera says that U.S. stocks are now trading around 6% higher than their fair value.

Persons: David Sekera, George Bull, Sander Morris, Aaron Dunn, Donald Trump's, Morningstar, Trump, Sekera, Sekara Organizations: Morgan, Value, Exxon Mobil, Devon Energy, Exxon Mobile, U.S, Trump, U.S . Federal Reserve Locations: U.S, Morgan Stanley's

☆ Meet the top 4 candidates Trump is considering for Secretary of the Treasury
▼ + stars: | 2024-11-18 | by ( Matthew Loh | ) www.businessinsider.com time to read: +8 min

AdvertisementLast week, Trump was said to be deciding between two leading candidates for Treasury Secretary. Here are the top picks Trump is reportedly now considering for Secretary of the Treasury. Kevin WarshKevin Warsh, center, is rising as one of the candidates for Trump's Treasury Secretary. AdvertisementMarc RowanMarc Rowan isn't said to be actively lobbying for Treasury Secretary, but his aides have reportedly been in touch with the Trump administration. Drew Angerer/Getty ImagesBessent, 62, was one of the original frontrunners for Trump's Treasury Secretary.

Persons: Trump, Kevin Warsh, Marc Rowan, Donald Trump, Robert F, Kennedy Jr, Florida Sen, Marco Rubio, Janet Yellen, he's, it's, Kevin Warsh Kevin Warsh, Tasos Katopodis, Warsh, Morgan Stanley, George W . Bush, Axios, Jerome Powell, Marc Rowan Marc Rowan isn't, PETER, Getty Images Rowan, Rowan, Rowan isn't, Howard Lutnick Howard Lutnick, ANGELA WEISS, Cantor Fitzgerald, Lutnick, Linda McMahon, He's, Vance, Elon Musk, Musk, Scott Bessent Scott Bessent, Drew Angerer, Bessent, George Soros, Soros, Breitbart, Kamala Harris, Joe Biden's, MAGA Organizations: Treasury, White, Department of Health, Human Services, State Department, Trump, Street, New York Times, Trump's, Federal Reserve Board, Getty Images, Apollo Global Management, Apollo, Times, Bloomberg, Madison, Garden, AFP Lutnick, WWE, Hamptons, Apple, World Trade, Key, Capital Management, Reuters Locations: Florida, America, Lago

☆ Shares of Nvidia and AMD go different ways — here's Jim Cramer's advice on both AI chip stocks
▼ + stars: | 2024-11-18 | by ( Paulina Likos | ) www.cnbc.com time to read: +4 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. When asked for comment on The Information report, an Nvidia spokesperson emailed a statement to the Investing Club: "NVIDIA GB200 systems are the most advanced computers ever created. That doesn't seem like the right reason to race out and buy AMD stock Monday, though. 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: Jim Cramer, Donald Trump's, Jim, White, doesn't, he's, Michael Dell, Blackwell, AMD's, he'd, Stocks, Jim Cramer's Organizations: CNBC, Nasdaq, Club, Nvidia, Blackwell, Dell, Investing, NVIDIA, Devices, AMD, IBM, Microsoft, Meta, CVS Health, Netflix, Warner Bros Discovery

☆ Dollar sitting pretty, yen bears wary of Bank of Japan hawks
▼ + stars: | 2024-11-18 | by ( ) www.cnbc.com time to read: +3 min

Yen bears were tense in case Bank of Japan Governor Kazuo Ueda used a speech later Monday to flag a possible rate hike in December, in part due to the weakness of the currency. Markets imply around a 55% chance of a quarter-point rate hike to 0.5% when the BOJ meets on Dec. 19. Against a basket of currencies the dollar held at 106.730, having touched a one-year top of 107.07 on Friday. The rally has coincided with a savage swing in 10-year Treasury yields, which have climbed 70 basis points since the start of October, fuelling a 5.4% rise in the U.S. dollar index . Analysts generally assume Trump's touted policies of tariffs, reduced immigration and debt-funded tax cuts will be inflationary, so limiting the scope for further rate cuts by the Federal Reserve.

Persons: Kazuo Ueda, Ueda, Donald Trump's, Katsunobu Kato, Jonas Goltermann, Trump, Howard Lutnick, Cantor Fitzgerald, Scott Bessent Organizations: Bank of Japan, U.S, Japanese Finance, Capital Economics, Trump, Federal Reserve, Central Bankers Locations: U.S, Japan, Canada

☆ Stanley Druckenmiller piled into regional banks and made this health-care stock his biggest bet
▼ + stars: | 2024-11-18 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Billionaire investor Stanley Druckenmiller built a sizable position in regional banks and made one health-care name his biggest position last quarter — two bets that have been rallying since the election of President-elect Donald Trump two weeks ago. The regional banking exchange-traded fund has climbed 12% this month alone, while Natera has jumped nearly 26% in November. KRE YTD mountain SPDR S & P Regional Banking ETF The widely followed investor was recently applauded for his big win on key artificial intelligence player Nvidia . During the third quarter, Duquesne added a small bet on Broadcom, worth $41 million, as another AI play. Druckenmiller shot to fame after helping make a $10 billion bet against the British pound in 1992.

Persons: Stanley Druckenmiller, Donald Trump, George Soros, Duquesne, Banks, Trump, Natera, Druckenmiller, bullish, Jensen Organizations: Quantum Fund, Duquesne Family Office, Regional Banking, Trump, Republican, GOP, Representatives, Regional Banking ETF, Nvidia, Duquesne, Broadcom, Duquesne Capital Management

☆ Stocks making the biggest moves premarket: Tesla, Nvidia, Robinhood, Liberty Energy and more
▼ + stars: | 2024-11-18 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +3 min

Spirit Airlines — Shares of the struggling airline were halted on Monday after the company filed for bankruptcy protection . The stock rose 2.8% when trading resumed. Liberty Energy , Oklo — Shares of Liberty Energy rose 5% after Trump picked CEO Chris Wright as energy secretary . Robinhood — The electronic trading platform stock gained 1% after Needham upgraded shares to buy from hold. CVS Health — Shares of the drugstore company rose 2% following a Wells Fargo upgrade to overweight from equal weight.

Persons: Tesla, Donald Trump's, Chris Wright, Wright, Baird, Barron's, Needham, Robinhood, Robert F, Kennedy Jr, —, Sarah Min, Alex Harring, Jesse Pound, Spencer Kimball, Lisa Kailai Han Organizations: Bloomberg News, U.S . Transportation Department . Spirit Airlines, Liberty Energy, Oklo, of Liberty Energy, Trump, Nvidia, Blackwell, Nasdaq, Trump's Securities, Exchange Commission, CVS, Aetna, Warner Bros, National Basketball Association, Wall Street Journal, U.S, NBA, HSBC, Moderna Locations: Wells

☆ Trump's victory has already prompted a realignment on Ukraine
▼ + stars: | 2024-11-18 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +6 min

AdvertisementDonald Trump's election victory is impacting Ukraine even before he takes office again in January. Trump has criticized US aid to Ukraine and has suggested he'd strike a deal with Russia. President-elect Donald Trump's election win has prompted a flurry of reactions around the world that are already reshaping the war in Ukraine. Trump, a frequent critic of US aid to Ukraine, won't take over the White House until January 20, 2025. Related Video Zelenskyy says Ukraine will lose the war without help from the USPresident Joe Biden, a strong supporter of Ukraine, has sought to rush additional aid to Ukraine before Trump takes office.

Persons: Donald Trump's, Trump, Biden, Zelenskyy, Joe Biden, Antony Blinken, Tayyip Erdoğan, Volodymr Zelenskyy, Vladimir Putin, Olaf Scholz, Putin, Scholz, JOHN MACDOUGALL, Suspilne, Trump's, doesn't, Donald Trump, Mikhail Svetlov Organizations: Trump, White House, US Army Tactical Missile, South Korean Defense Ministry, Getty, Bloomberg, NATO, Reuters, Politico, Associated Press, Putin, Wall Street Journal Locations: Ukraine, Russia, Brazil, Europe, Ukrainian

Andrew Harnik | Getty ImagesPresident-elect Donald Trump's return to the White House is poised to have big impacts on consumer health care. CMS, in turn, administers the Affordable Care Act marketplace and the Children's Health Insurance Program (CHIP), among other endeavors. A spokesperson for Trump's transition team did not respond to a request from CNBC for comment about the President-elect's health policy plans. Still, it's a 'big' gamble to forgo health insurance Around 3.8 million people will lose their health insurance if the subsidies expire, the Congressional Budget Office estimates. Short-term health insurance plans offer coverage for limited amounts of time, and typically on fewer medical services than comprehensive coverage.

Persons: Donald Trump, Andrew Harnik, Donald Trump's, Michael Sparer, Sparer, Trump, Robert F, Kennedy Jr, Kennedy, who's, Mario Tama, Cynthia Cox, I'd, Cox, Sabrina Corlette, Georgetown University's, Corlette, Carolyn McClanahan, Larry Levitt, Levitt, enrollee, they're, Yasin Ozturk, Biden, It's, — Organizations: Base Andrews, Getty, Affordable, Trump, Republican, Columbia University, of Health Policy, Management, of Health, Human Services, Medicare, Services, CMS, Children's Health Insurance, Washington Post, The Washington Post, CNBC, Providence St, Mary Medical Center, Finance, American, ACA, Cox, Congressional, Office, Republicans, Center, Health, Georgetown, Georgetown University's McCourt School of Public, Planning Partners, Medicaid, Social Security, Maskot, of Columbia, U.S, Capitol, Washington , D.C, Anadolu Agency, GOP, Corlette, pharma, Centers Locations: Base Andrews , Maryland, U.S, Duluth, Apple Valley , California, Jacksonville , Florida, Washington ,

☆ Trump's China tariffs would cut into US defense production, Beijing advisor says
▼ + stars: | 2024-11-18 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

AdvertisementHigh tariffs on China could prevent the US defense industry from getting needed supplies, a Beijing advisor said. "If those military enterprises do not have supply from China, they will not be able to continue with their production." The US defense sector will face big repercussions if Donald Trump launches tariffs against China, an advisor tied to Beijing's government said. AdvertisementTo be sure, it remains to be seen how Trump's tariff ideas actually pan out. So far, the defense sector appears distracted by other developments tied to Trump's presidency.

Persons: Donald Trump, Ding Yifan, Trump, Ding, Greg Hayes Organizations: Defense, State Council's Development Research Center, Financial Times, JPMorgan, Government, P Aerospace Locations: China, Beijing

☆ The second Trump era will see a rebalancing of U.S., UK and EU relations, economist says
▼ + stars: | 2024-11-18 | 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 EmailThe second Trump era will see a rebalancing of U.S., UK and EU relations, economist saysWith two months to go before Donald Trump's second term as president of the U.S., RSM Chief Economist Joe Brusuelas discusses defense spending in Europe.

Persons: Trump, Donald Trump's, Joe Brusuelas Organizations: EU, RSM Locations: U.S, Europe

☆ Yields are 'skyrocketing' as markets digest Trump & Musk's policy agenda: Mirova
▼ + stars: | 2024-11-18 | 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 EmailYields are 'skyrocketing' as markets digest Trump & Musk's policy agenda: MirovaBertrand Rocher of Mirova discusses the market's reaction to Donald Trump, as well as the reaction to Elon Musk's announcement to cut the US federal budget by $2 trillion dollars.

Persons: Bertrand Rocher, Mirova, Donald Trump, Elon Organizations: Trump

☆ Jim Cramer says 'nothing truly dulls the case' for owning Tesla stock
▼ + stars: | 2024-11-18 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer made the case for owning Tesla stock, saying it's worthwhile not because President-elect Donald Trump reportedly wants to relax U.S. self-driving rules, but because of CEO Elon Musk himself. "While I don't buy the national self-driving mandate, I think nothing truly dulls the case for owning Tesla," he said. "The Musk premium will work its magic in other ways, perhaps favorable municipalities and Tesla rentals next to federal highways." But Cramer suggested that the Trump team's plans for autonomous vehicles might be easier said than done. Cramer also stressed that Tesla stands apart from its EV peers because of its tech focus.

Persons: CNBC's Jim Cramer, Donald Trump, Elon Musk, Tesla, Trump, Cramer, Elon, Trump's Organizations: Bloomberg, Trump, Barclays, SpaceX

☆ Hong Kong 47: Democracy leaders sentenced to lengthy jail terms in largest national security trial as Beijing tightens grip
▼ + stars: | 2024-11-18 | by ( Chris Lau | Nectar Gan | ) edition.cnn.com time to read: +8 min

Benny Tai, a prominent legal scholar and veteran protest leader, received the longest prison term of 10 years – the toughest sentence to date handed down under the national security law. But since the national security law came into effect in 2020, Hong Kong’s political and legal landscape has been transformed. The administration of outgoing US President Joe Biden was also critical of Bejing’s crackdown in Hong Kong, even as it tried to recalibrate ties with Beijing. John Burns, emeritus professor at the University of Hong Kong, said the cumulative changes have reduced the city’s autonomy and citizens’ participation in politics. “The new regime has restricted human rights in Hong Kong, rights that Hong Kongers used to enjoy.

Persons: Hong Kong’s, Joshua Wong, “, –, Benny Tai, Wong, Gwyneth Ho, Leung Kwok, Claudia Mo, teared, ” –, Chris Lau, Lee Yue, ”, Hong, Donald Trump’s, Joe Biden, Trump, Raphael Wong Ho, John Burns, Hong Kongers, Hong Kong, John Lee –, ” Lee Organizations: Hong Kong CNN, Hong, CNN Landmark, Police, Washington, Beijing, CNN, Legislative Council, University of Hong, Authorities, Communist Party Locations: Hong Kong, Kowloon, Beijing, British, China, University of Hong Kong, Hong

☆ Needham upgrades Robinhood to buy, says Trump victory will boost the stock
▼ + stars: | 2024-11-18 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

Robinhood is slated for more gains under a second Trump term, according to Needham. His $40 price target implies nearly 24% upside from Friday's close. Piper Sandler analyst Patrick Moley has also grown more bullish on the stock amid bitcoin's price surge, upping his price target by $6 to $36. Eight of 17 covering the stock have a buy or strong buy rating on the name, while the remaining ones have hold or underperform ratings. The average price target also points to 17% downside.

Persons: Needham, John Todaro, HOOD, Robinhood, Donald, Piper Sandler, Patrick Moley, Moley, bitcoin Organizations: Trump, Securities and Exchange Commission, LSEG Locations: HOOD

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