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Skyscrapers on the skyline in the financial district of Frankfurt, Germany, on Monday, Nov. 4, 2024. European markets were expected to open in mixed territory on Friday, as investors awaited corporate results and reacted to quarter-point interest rate cuts from the U.S. Federal Reserve and Bank of England. It comes as market participants continue to take in political upheaval in Germany and Donald Trump's historic presidential election victory this week. Elsewhere, Asia-Pacific markets were mixed on Friday, with investors closely monitoring the final day of China's National People's Congress, which is expected to announce fiscal stimulus measures. On Wall Street, U.S. stock futures gained marginally after the S&P 500 and Nasdaq Composite notched fresh records in a post-election rally.
Persons: Germany's DAX, Donald Trump's, Chancellor Olaf Scholz, Christian Linder, Scholz Organizations: U.S . Federal Reserve, Bank of England, France's CAC, IG, People's Congress, Nasdaq Locations: Frankfurt, Germany, Asia, Pacific, U.S
Inflation data in the week ahead could determine whether a stock market that surged to all-time highs after Donald Trump 's decisive victory can continue to push higher. Meanwhile, the October producer price index, which excludes shelter, is set to have risen 0.3%, consensus estimates show, up from a 0.0% reading the prior month. Initial Claims (11/09) 8:30 a.m. Producer Price Index (October) Earnings: Applied Materials , Walt Disney Friday, Nov. 15 8:30 a.m. Export Price Index (October) 8:30 a.m. Import Price Index (October) 8:30 a.m.
Persons: Donald Trump, Hogan, We've, Nancy Tengler, Bitcoin, Harker, Tyson, Price Organizations: Federal Reserve, Riley Wealth Management, FactSet, Laffer, Investments, Trump, Dow Jones, Nasdaq, Atlanta Fed, Treasury, Philadelphia Reserve, Carnegie Mellon, Occidental Petroleum, Nation Entertainment, Tyson Foods, Mosaic, Treasury Budget NSA, Cisco Systems, Walt Disney, Price, Retail, Manufacturing Locations: China, U.S
U.S. government bond yields have surged too, puzzling many market participants. I am going to stick with the contrarian view and bet on rates continuing to move higher. I'll express that through a bearish bet on the iShares 20+ Year Treasury Bond ETF (TLT) which tracks bond prices. Various inputs have driven yields higher, creating the opposite outcome for the Fed as they continue to try to land the proverbial plane. Jeffrey Gundlach stated (post Fed meeting) that interest rates could shoot even higher if Republicans end up controlling the House too.
Persons: Donald Trump's, Jeffrey Gundlach, Jerome Powell, TLT Organizations: Federal Reserve, Treasury Bond ETF, Fed, Treasury, CNBC, NBC UNIVERSAL
When Donald J. Trump repeatedly singled out the Japanese construction equipment maker Komatsu during his 2016 presidential campaign, employees at the company were taken aback. In one interview, Mr. Trump criticized the Affordable Care Act as being so expensive that it required people to “get hit by a Komatsu tractor” to meet the deductible. At the time, Komatsu’s president brushed off the remarks, saying the company was grateful to Mr. Trump for helping to raise its global profile. After his improbable victory over Hillary Clinton, however, Komatsu took steps to ingratiate itself with the Trump White House. Since then, it has increased investments in North America, adding thousands of workers to its payroll and ramping up domestic production.
Persons: Donald J, Trump, , Hillary Clinton, Komatsu Organizations: Komatsu, Trump White Locations: Tokyo, ingratiate, American, North America
Trade Tracker: Kevin Simpson buys JPMorgan
  + stars: | 2024-11-08 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrade Tracker: Kevin Simpson buys JPMorganKevin Simpson, Capital Wealth Planning founder and CIO, joins CNBC's 'Halftime Report' to discuss his latest banking trade.
Persons: Kevin Simpson, JPMorgan Kevin Simpson Organizations: JPMorgan, Wealth Planning
AdvertisementSome venture capitalists expect US President Donald Trump to dial back regulation, potentially making it easier to develop new technologies and do business in Silicon Valley. Related VideoWhile many in Silicon Valley dislike Trump, many VCs and startup founders crave more freedom to pursue riskier new technologies unburdened by regulation. E-acc," referring to the recent Silicon Valley movement that wants technological advancements in AI to move as fast as possible, without any guardrails. Regulation has held Silicon Valley back in recent yearsVCs during Biden's presidency have complained about how tough it's been to get deals done. AdvertisementVCs anticipate an innovation boomAmerica is a country of entrepreneurs, and that's especially true in Silicon Valley.
Persons: , Donald Trump, Elon, Ben Narasin, we've, Trump, Musk, cheekily, Vance, Augustus Doricko, Kamala Harris, Aaron Levie, Harris, Mark Pincus, Biden's, Louis Lehot, Foley, Lardner, Lina Khan —, it's, Biden, JD Vance, Khan, Mason Angel, who's, he's, Narasin, Ben Thompson, Rainmaker's Doricko, Angel Organizations: Service, Elon, Venture, White, Department of Government, Zynga, acc, Google, Microsoft, Nvidia, Federal Trade Commission, Department of Justice, Trump, Republican, Big Tech, FTC, SpaceX, Space Force Locations: Silicon Valley, Silicon
Jefferies reiterates Nvidia and Marvell as buy The firm says the two chipmakers still have the most upside. Citi upgrades Bank of America to buy from neutral Citi says the bank could be a beneficiary of lighter regulation. Bank of America downgrades Rivian to neutral from buy Bank of America said it sees regulatory risk under a Trump administration. Bank of America upgrades Teledyne Technologies to buy from neutral The firm says it sees upside ahead for the industrial conglomerate. Goldman Sachs upgrades Wingstop to buy from neutral The firm says the wings restaurant has "best-in-class" growth.
Persons: William Blair, Warby Parker, Bernstein, Apple, Lowe's, Jefferies, Goldman Sachs, Sweetgreen, Goldman, outperformance, it's bullish, BNTX, Oppenheimer, Piper Sandler, Wells, Airbnb, Gross, Trump, TDY Organizations: Apple, Apple Intelligence, Nvidia, Marvell, Enterprise, JPMorgan, China EV, Catalyst, Holdings, Barclays downgrades, Body, Citi, U.S, Deutsche Bank, UBS, Molson Coors, OW, Bank of America, Trump Administration, " Bank of America, Teledyne Technologies Locations: AVGO, 4Q24, DPZ, UW
The news on Home Depot Telsey Advisory Group, a leader in retail industry analysis, upgraded Home Depot stock to a buy-equivalent outperform on Friday. The news on Best Buy Citi lowered its Best Buy price target to $109 per share from $115 on Friday while maintaining its buy-rating on the stock. BBY YTD mountain Best Buy stock performance year-to-date. Bottom line Despite Citi's concerns, we're sticking with Best Buy. Best Buy should be well-positioned to benefit from falling interest rates if home sales pick up again.
Persons: , Telsey, Jim Cramer, Jim, they're, Donald Trump's, Jim Cramer's, Ting Shen Organizations: Advisory, Depot, Federal, Home Depot, Home, Citi, Trump, CNBC, Home Depot Inc, Bloomberg, Getty Locations: China, Washington , DC
That’s just one example of companies eliminating an endless assortment of products to boost profit. Hormel is cutting some pepperoni products. Cutting products boosted companies’ profit margins by 0.9% compared to 2019, L.E.K. The strategy is going to make customers’ choices “a little simpler” and reduce re-stocking work for store employees, he said. Companies can upset customers who are loyal to a specific version of a product, pushing them to switch to another brand or stores’ private-label versions.
Persons: New York CNN — Pepperoni, Applegate, Jennie, Hormel, , That’s, Gene J, Rob Wilson, Levi’s, Todd Vasos, Scott Olson, Gina Goetter, Bob Eddy, Taco Bell, David Garfield, “ We’ve Organizations: New, New York CNN, CNN, Companies, L.E.K, Consulting, Starbucks, Hasbro, Dollar, BJ’s Wholesale, Walmart Locations: New York, Turkey, mayo, Asia
CNN —President-elect Donald Trump’s social media stock had been sinking fast after a short-lived, post-election-victory surge this week. Then, with a single post on Truth Social, he helped boost the stock again – and added a half billion dollars to his net worth as a result. Trump is the company’s single largest shareholder, and his 114.75 million shares are now worth about $3.7 billion. Trump media rose just 4.4% over the past five days. That could be difficult to do, anyway, because the company’s valuation depends almost entirely on Trump’s ownership and participation on Truth Social, its core product.
Persons: Donald Trump’s, Trump Organizations: CNN, Trump Media, Technology Group, Traders, Trump, Truth Locations: United States
The basic theory behind prediction markets is that a lot of people with money on the line can better predict an outcome than any one expert. “Financial markets are generally pretty efficient, and the evidence suggests that the same is true of prediction markets,” Eric Zitzewitz, an economics professor at Dartmouth, tells me. The shares trade between $0 and $1, and once the event is resolved, shares tied to the correct outcome pay out a dollar. If you bought Trump shares on Monday, when they were 58 cents, you can expect to make 42 cents on the dollar. Later that fall, the popular betting market PredictIt gave Hillary Clinton an 82% chance of beating Donald Trump.
Persons: CNN Business ’, pollsters, Donald Trump’s, Trump, Kamala Harris, PredictIt, Eric Zitzewitz, , aren’t, Taylor Swift, Travis Kelce, You’re, Shayne Coplan, Harris, Coplan, ” Zitzewitz, , “ Brexit, Hillary Clinton, Donald Trump, Clinton, Nate Silvers, Ann Selzers, FiveThirtyEight Organizations: CNN Business, New York CNN, Wednesday, , Dartmouth, Chiefs, Lions, Ravens, Trump, Bloomberg, CNBC, European Union Locations: New York, America, United Kingdom
CNN —Like many other Middle Eastern economies, Bahrain has been trying to move away from its dependence on fossil fuels. In October, the National Bank of Bahrain launched a Bitcoin investment fund, aimed at institutional investors — a first for the GCC. At the Gateway Gulf event, Bahrain’s Minister of Tourism announced the construction of 16 new hotels totaling over 3,000 rooms. However Al Khalifa believes that the success of its GCC partners will ultimately prove beneficial for Bahrain. “All of us are working together to increase economic activity, increase the pie for the whole region, and this rising tide will lift all of the economies of the region.”
Persons: ” Shaikh Salman bin Khalifa Al Khalifa, CNN’s Richard, , ” Al Khalifa, , Steffen Hertog, Abu Dhabi, Hertog, Al Khalifa Organizations: CNN, Bahrain’s, Finance, National, Gulf Cooperation Council, United, United Arab Emirates, GCC, World Bank, National Bank of, Tourism, London School of Economics, Political Science, Locations: Bahrain, Gateway, ” “ Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, United Arab, National Bank of Bahrain, “ Dubai, Dubai, Abu, Saudi
On the campaign trail, he said Taiwan should pay the US for protection. But a second term for President-elect Donald Trump raises uncomfortable questions for Taiwan at a moment of mounting risks. Advertisement"I think, Taiwan should pay us for defense," Trump told Bloomberg Businessweek in June. Advertisement"There could well be a demand for Taiwan to 'pay' more for its own protection and perhaps to invest in the United States. "The good news for Taiwan is that Taiwan has bipartisan support in the US Congress," Chin said.
Persons: Donald Trump, , Lai Ching, Lai, Trump, Tsai Ing, Wen, Xi Jinping, he's, Chong Ja Ian, Biden, Abrams, Benjamin Blandin, Blandin, James Chin, Chin, Zhu Fenglian, Zhu, Taiwan's, Ting Yeh Organizations: Service, Taiwan, US, Bloomberg Businessweek, Wall Street, National University of Singapore, Pentagon, Air Missile Systems, Patriot, Yokosuka Council, Pacific Studies, Trump, University of Tasmania, China's Taiwan Affairs Office, Taiwan Watch, Nikkei, China Locations: Taiwan, Beijing, Taipei, China, United States, Yokosuka, Asia, Wall Street, Silicon Valley, Nikkei Asia, Ukraine
Dollar winds down after volatile week, China NPC in focus
  + stars: | 2024-11-08 | by ( ) www.cnbc.com   time to read: +4 min
The dollar further unwound some of its sharp gains from earlier in the week as traders closed out profitable bets on a Trump presidency after his election victory. That helped lift sterling back toward the $1.30 mark, while the yen similarly got some respite and hovered closer to the 153 per dollar level. Sterling last traded $1.2983, recovering from its fall to a roughly three-month low earlier in the week. Against a basket of currencies, the dollar ticked up 0.03% to 104.44, on track to gain just above 0.1% for the week. "All eyes are on what may emerge from China's policy toolkit after the conclusion of the NPC standing committee meeting."
Persons: Donald Trump's, Chancellor Olaf Scholz, Kerry Craig, Trump, Wells, Jay Bryson, Sterling, David Chao Organizations: White, National People's Congress, Trump, Federal Reserve, Morgan Asset Management, Traders, Bank of England, NPC, New Zealand, Asia Pacific, European Union Locations: U.S, Beijing, Germany, Wells Fargo, Japan, Invesco
Oil prices fall as Hurricane Rafael expected to start weakening
  + stars: | 2024-11-08 | by ( ) www.cnbc.com   time to read: +1 min
Mobile offshore drilling units stand in the Port of Cromarty Firth in Cromarty, U.K., on Tuesday, June 23, 2020. Oil prices fell slightly on Friday as the risk that a hurricane in the Gulf of Mexico will affect U.S. oil and gas output declined while the market continues to weigh how President-elect Donald Trump's policies might affect supplies. Brent crude oil futures fell 26 cents, or 0.3%, to $75.37 per barrel by 0209 GMT. U.S. West Texas Intermediate (WTI) crude gained 35 cents or 0.5% to $72.01. A strong dollar makes oil more expensive for other currency holders and tends to weigh on prices.
Persons: Donald Trump's, Brent, Rafael Organizations: . West Texas, U.S, National Hurricane Center Locations: Port, Cromarty, Gulf, Mexico, Brent, of Mexico, U.S, Iran, Venezuela, China
Trade Tracker: Bryn Talkington buys Uber
  + stars: | 2024-11-08 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrade Tracker: Bryn Talkington buys UberBryn Talkington, managing partner at Requisite Capital Management, joins CNBC's 'Halftime Report' to discuss why she's buying the ride sharing company.
Persons: Bryn Talkington Organizations: Capital Management
Eli Lilly: Shares of Eli Lilly are finally putting together back-to-back sessions of gains. Eli Lilly shares traded at $903 before the quarterly report, putting the post-earnings pullback at about 7%. 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. An Eli Lilly & Co. Zepbound injection pen arranged in the Brooklyn borough of New York, US, on Thursday, March 28, 2024.
Persons: Jim Cramer, Donald Trump's, aren't, Eli Lilly, Lilly, David Ricks, Wells, We've, Eli Lilly's, Tyson, Jim Cramer's, Jim, Shelby Knowles Organizations: CNBC, ., Treasury, Companies, Tech, Tesla, Arista Networks, Costco, United States, Disney, Tyson Foods, AstraZeneca, Spotify, Occidental, Cisco, Advance, Materials, Jim Cramer's Charitable, Bloomberg, Getty Locations: China, Wells Fargo, Brooklyn, New York
Shares in Trump Media & Technology are surging after the election. Furthermore, Trump threatened the "market manipulators or short sellers" who he said were spreading the "fake, untrue, and probably illegal rumors and/or statements" that he did intend to sell Trump Media shares. AdvertisementShares in Trump Media were up around 15% by late afternoon Friday trade. Neither the Trump campaign nor Trump Media immediately responded to requests for comment from Business Insider. Trump's majority stake comprises 115 million shares worth around $3.7 billion as of Friday.
Persons: Donald Trump, he's, , Trump, could've feasibly, Elon Musk's Organizations: Trump Media & Technology, Service, Trump Media, Business, Trump Media's, Trump, Social, Elon
Russian President Vladimir Putin addressed the Valdai Forum on Thursday. The Russian president said he'd be open to discussing Ukraine with Trump. AdvertisementRussian President Vladimir Putin on Thursday congratulated Donald Trump on his US election victory in a wide-ranging speech that was followed by a three-hour marathon question and answer session. Trump's "desire to restore relations with Russia, to help end the Ukrainian crisis, in my opinion, deserves attention at least," the Russian president said. His reference to China's 'reasonable' Taiwan policyThe Russian president backed ally China's position on Taiwan, the independent island that Beijing has menaced with the prospect of invasion.
Persons: Vladimir Putin, he'd, , Donald Trump, Putin, Trump, China's, that's, Israel's Organizations: Trump, Service, NATO, NBC, Russian Federation, West, Russia, Analysts Locations: Taiwan, Ukraine, Russia, Russian, Beijing, China, Europe, Brazil, India, South Africa, Israel, Palestine
China has announced a local government debt rescue program days after Trump won the US election. Trump has threatened tariffs of 60% on Chinese goods, complicating China's economic gloom. AdvertisementChina announced a debt rescue program to the tune of $1.4 trillion to save heavily indebted local governments and boost its economy. The plan also allows local governments to tap 4 trillion yuan in special local bonds over five years. China's local governments have been struggling to repay their LGFV debt, which the International Monetary Fund estimated to be around 60 trillion as of last year.
Persons: Trump, , Li Kiang, Donald Trump's, Vishnu Varathan, Mizuho Bank's Organizations: Trump, Service, China, China's, National People's Congress, International Monetary Fund, Reuters Locations: China, Xinhua, Beijing, Washington, Asia, Japan
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLongview's Dewardric McNeal says brace for huge challenges ahead when it comes to U.S.-China tradeDewardric McNeal, Longview Global managing director & senior policy analyst, joins 'Fast Money' to talk possible trade headaches that could come along with a Trump tariff hike.
Persons: Longview's Dewardric McNeal, Dewardric Organizations: Longview Global Locations: U.S, China, Trump
Scenic Luxury Cruises & Tours delivered just that on my recent nine-day Mekong River cruise through Vietnam and Cambodia on the Scenic Spirit. Jill SchildhouseOne of the biggest trade-offs when sailing on an ultra-luxury small ship is the limited variety of venues and amenities compared to megaships. On my Mekong River cruise, Scenic brought in local performers to share traditional dance and music, offering a close-up view of the region's culture. After just one day on our river cruise, staff knew the names, preferences, and go-to drink orders of many guests. AdvertisementAlthough I received this cruise complimentary from Scenic Luxury Cruises & Tours, the rate for my sailing would have been about $7,075.
Persons: I've, , who's, riverboats —, Jill Schildhouse, There's, I'd Organizations: Service, Cruises, Tours, Luxury Cruises Locations: Vietnam, Cambodia
Russia's brain drain has become its economy's biggest problem, an economist told Business Insider. The long-lasting nature of brain drain makes the issue more serious than, say, inflation, which could be remedied by central bank maneuvering. Over the next decade, Russia's economy could devolve into one dependent mainly on its natural resources rather than on the most innovative industries, Portes speculated. That's similar to what other economic forecasters have predicted, with some warning Russia's economy could become de-industrialized as its resources are siphoned off by the war. Advertisement"It will be reduced to a resource economy, a natural resource economy," he said of Russia's future.
Persons: , Richard Portes, they've, Portes Organizations: Service, London Business School, Russia, French Institute of International Relations, Business, Institute of Economics, Russian Academy of Sciences, Labor, Russian, UC Berkeley Locations: Russia, Ukraine
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSmall cap trade has a little room left to run, says RBC's Lori CalvasinaLori Calvasina, RBC Capital Markets head of U.S. equity strategy, joins CNBC's 'Closing Bell' to discuss the small cap trade, post-election markets, and more.
Persons: RBC's Lori Calvasina Lori Calvasina Organizations: RBC Capital Markets
Sonya Moore decided that if Trump won in 2016, she would leave the US. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Advertisement"If Trump wins this election, I'm moving out of the country." Trump won the election, and 9 months later, I left the US. After four months in India, I continued making my way through Asia for eight more months.
Persons: Sonya Moore, Trump, Moore, , I'm, uproot, Dalai Lama, I've, We've Organizations: Service, Trump Locations: Asia, Siem Reap, Cambodia, India, Dalai, Maldives, Bali, mountaintops, Laos, Philippines, Myanmar, Manhattan, COVID, France, Papua New Guinea, America
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