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Brendan McDermid | ReutersThe Dow Jones Industrial Average has been declining for nine straight days, heading for its longest losing streak since February 1978. The biggest laggard in the 30-stock Dow during this losing streak has been UnitedHealth , which has contributed to more than half of the decline in the price-weighted average over the past eight sessions. And then there's a rotation going on with investors selling out of the cyclical names in the Dow that initially popped on Trump's reelection. The Dow, largely comprised of blue-chip consumer discretionary and industrial names, is widely viewed as a proxy for overall economic conditions. The Dow was first created in the 1890s to model a regular investor's portfolio — a simple average of the prices of all constituents.
Persons: Brendan McDermid, Donald Trump's, Brian Thompson, Sherwin, Williams, Goldman Sachs, Trump's deregulatory, Dow Organizations: New York Stock Exchange, Reuters, Dow Jones, Dow, Caterpillar, Nasdaq
Luigi Mangione was charged last week over the shooting of UnitedHealthcare CEO Brian Thompson. The race is on to be the first to make a true crime show about him. AdvertisementTrue crime has a new protagonist: Luigi Mangione. It seemed inevitable that true crime shows would follow at a time when the genre's popularity is at its height. AdvertisementAfter pictures of Mangione emerged following the shooting, some X users joked that Ryan Murphy, who is behind true crime dramas including "Monsters: The Lyle and Erik Menendez Story," would make a show about him.
Persons: Luigi Mangione, Brian Thompson, Mangione, Thompson, Ryan Murphy, Lyle, Erik Menendez Locations: Manhattan, Altoona , Pennsylvania
Nearly all advisors use mutual funds and ETFs, about 94% and 90% of them, respectively, Cerulli said in a report issued Friday. Currently, mutual funds account for 28.7% of client assets and ETFs account for 21.6%, it said. While that is about half the roughly $20 trillion in mutual funds, ETFs have steadily eroded mutual funds' market share since debuting in the early 1990s. Liquidity, transparency and low fees are among the top reasons advisors are opting for ETFs over mutual funds, Cerulli said. ETFs also generally disclose their portfolio holdings once a day, while mutual funds generally disclose holdings on a quarterly basis.
Persons: , Cerulli, Jared Woodard, Bryan Armour, Armour Organizations: Getty, Cerulli Associates, Bank of America Securities, North America, Morningstar
Igor Kirillov, head of the Russian Defense Ministry's radiological, biological and chemical protection unit, speaks at a briefing over an alleged chemical attack on the Syrian city of Douma, at the Patriot park in the Moscow region on June 22, 2018. A top Russian general accused by Ukraine of being responsible for the use of chemical weapons against Ukrainian troops was assassinated in Moscow by Ukraine's SBU intelligence service on Tuesday morning in the most high-profile killing of its kind. An SBU source confirmed to Reuters that the Ukrainian intelligence agency had been behind the hit. "The liquidation of the chief of the radiation and chemical protection troops of the Russian Federation is the work of the SBU," the source said. Moscow holds Ukraine responsible for a string of high-profile assassinations on its soil designed to weaken morale and punish those Kyiv regards guilty of war crimes.
Persons: Igor Kirillov, Ukraine's, Kirillov, Dmitry Medvedev Organizations: Russian Defense, Patriot, Ukrainian, Russia's, Chemical Protection Troops, Reuters, Russian Federation Locations: Syrian, Douma, Moscow, Russian, Ukraine, Ukrainian, Kirillov, Russia
The average cash allocation level of participants in Bank of America's Global Fund Manager Survey fell to 14% underweight, according to data released by the bank on Tuesday. That stat of net 14% underweight on cash marks a significant turn from the 4% net overweight reading in November. This 18 percentage-point drop in cash allocation was the largest monthly decline in around half a decade, according to Bank of America data. What's more, the average cash level of surveyed managers fell to 3.9% from 4.3% of assets under management, hitting a new low going back to June 2021. That marked the second time in the last three months that this level fell below the key 4% mark, which Hartnett said triggers a contrarian sell signal.
Persons: Michael Hartnett, Donald Trump, Hartnett Organizations: Bank of America's Global, Survey, Bank of America, Pro, Dow Jones, Bank of America's
Justifying a rate cut in that environment will require some deft communication from Chair Jerome Powell and the committee. Other actions on tapMost Wall Street forecasters see Fed officials raising their expectations for inflation and reducing the expectations for rate cuts in 2025. Officials also are likely to raise their estimate for the "neutral" rate of interest that neither boosts nor restricts growth. That level had been around 2.5% for years — a 2% inflation rate plus 0.5% at the "natural" level of interest — but has crept up in recent months and could cross 3% at this week's update. The "ON RPP" rate acts as a floor for the funds rate and is currently at 4.55%, while the effective funds rate is 4.58%.
Persons: Jerome Powell, William McChesney Martin Jr, Andrew Caballero, Reynolds, That's, Esther George, Eric Rosengren, it's, George, Powell, Vincent Reinhart, BNY, Donald Trump, Reinhart Organizations: Federal Reserve, AFP, Getty, Federal, Market Committee, CNBC, Kansas City, Commerce Department, Former Boston Fed, Fed, BNY Mellon, Monetary Affairs, Trump Locations: Washington ,, Kansas, decelerate
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailD.A. Bragg on UnitedHealthcare CEO shooting: This was a frightening, well-planned, targeted murderManhattan's district attorney hosts a news conference to give the latest update on the UnitedHealthcare CEO shooting.
Persons: Bragg
Temu, which ships cheap goods from China, first entered the U.S. market in 2022. As the likes of Temu and Shein attract American consumers with cheap goods and aggressive advertising, they have also caught the attention of Washington. U.S. officials are not the only ones concerned about Chinese imports flooding their domestic markets. In Southeast Asia, Vietnam and Indonesia have imposed a range of anti-dumping tariffs on Chinese goods, while Thailand recently announced measures to monitor cheap imports. Nomura estimates a U.S. ban on all de minimis imports from China could reduce the latter's annual export growth by 1.3% and drag GDP growth down by 0.2%.
Persons: Trump, ByteDance's TikTok, China's PDD, Biden, Donald Trump's, Nomura Organizations: Amazon, China's, China's PDD Holdings, iOS, CNBC Locations: China, U.S, StatCounter, Washington, Southeast Asia, Vietnam, Indonesia, Thailand
A US base briefly closed its airspace heading into the weekend due to heavy nearby drone activity. AdvertisementDrone sightings near US military basesWithin the past few weeks, there have been multiple confirmed drone sightings near two military installations in New Jersey, as well as reports of drones near US Coast Guard operations and critical infrastructure. AdvertisementUS Air Force F-16 Viper Demonstration Team members perform a show launch at Wright-Patterson Air Force Base in June 2024. US Air Force photo by Senior Airman Meghan HuttonWright-Patterson hosts the Air Force Research Laboratory, the 655th Intelligence, Surveillance, and Reconnaissance Wing, and the 445th Airlift Wing, as well as other units. These came amid a string of reported drone activity along the East Coast over the past month.
Persons: Wright, Department of Defense hasn't, Patterson, Meghan Hutton Wright, Bob Purtiman, We've, Mark Cancian, Yuki Iwamura, Cancian, Pat Ryder, Ryder Organizations: Business, Patterson Air Force Base, Defense Department, Coast Guard, Department of Defense, Wright, Air Force, Force, US Air Force, Air Force Research Laboratory, 655th Intelligence, Reconnaissance, 445th Airlift, Arsenal, Naval Weapons Station, Newsday, Getty, Staff, US Marine Corps, Center for Strategic, International Studies, AP, Pentagon, Joint Staff, Federal Bureau of Investigation, Department of Homeland Security Locations: Ohio, Ukraine, New Jersey, East Coast, , New York, Jersey, Germany, Virginia, Cancian, New York, Boston, extremis
CNN —After years of playing military heroes on screen, Tom Cruise is now one in real life. According to a news release, the award is the Navy’s highest honor that a person outside of the Department of the Navy can receive. “The effort was not just on my end, but the cast and crew I get to work with on all our sets. The Navy said in the news release that Cruise’s work on the original “Top Gun” movie sparked a surge in Navy pilot recruitment at the time. The film’s producer Jerry Bruckheimer, along with Cruise, were named Honorary Naval Aviators by the department in 2020.
Persons: Tom Cruise, Navy Carlos Del Toro, Cruise, , , ” Cruise, Jerry Bruckheimer Organizations: CNN, Department of, Navy, Public Service, US Navy, Marine Corps, Naval, Aviators Locations: London
Trump's lawyers allege there was juror "misconduct" at his NY hush-money trial. One day after Donald Trump lost his 11th-hour bid to void his hush-money conviction, a juror "misconduct" battle is brewing, according to a newly-public series of court filings in the case. Prosecutors responded to the misconduct allegations on December 9, arguing that the claim "consists entirely of unsworn allegations," and is based on "hearsay and conjecture." AdvertisementMerchan, like prosecutors, noted that the defense misconduct claim "consists entirely of unsworn allegations." "Allegations of juror misconduct should be thoroughly investigated," he wrote, adding, "However, this court is prohibited from deciding such claims on the basis of mere hearsay and conjecture."
Persons: Trump, Donald Trump, Juan Merchan, Todd Blanche — Trump's, , Alvin Bragg, — Merchan Organizations: New, New York, Prosecutors, Trump Locations: Manhattan, New York
The American dream — like a beloved pair of pants you left in the dryer too long — is shrinking. Their millennial counterparts felt similarly, though they were slightly more bullish on the possibility of the American dream. And even among those who might have achieved the American dream — higher earners with college degrees — life satisfaction has slipped. At the same time, there's a bittersweet parallel running alongside the shrinking of the American dream. But now that the American dream is within reach for these people, it's already shrinking.
Persons: There's, schlepping, it's, It's, Zillow, Rent.com, That's, , Karen Benjamin Guzzo, Hill who's, Guzzo, that's, Young, they're, downer Organizations: Pew Research Center, Gallup, National Association of Home Builders, National Association of Realtors, University of North, Hill, Washington Post, Workers, Wall Street, Federal Reserve Bank of Atlanta Locations: University of North Carolina, United States, American
Eduardo Munoz | ReutersA New York grand jury indicted Luigi Mangione on charges of murdering UnitedHealthcare CEO Brian Thompson, the Manhattan District Attorney's office said Tuesday. Mangione, 26, is charged with one count of first-degree murder in furtherance of terrorism and two counts of second-degree murder, one of which is charged as killing as an act of terrorism. He is accused of fatally shooting Thompson with a 9mm handgun equipped with a silencer on Dec. 4 outside the Hilton hotel in midtown Manhattan. Mangione then fled on an e-bike and later a taxi that took him to Washington Heights in upper Manhattan. UnitedHealthcare CEO Brian Thompson (L) and Luigi Mangione (R).
Persons: Luigi Mangione, Brian Thompson, Eduardo Munoz, Kathy Hochul, Thompson, Attorney Alvin Bragg, Bragg, Mangione, Mark Rosario, Jessica Tisch, Tisch, Thompson's Organizations: New, Blair, Reuters, Manhattan District, Jersey driver's, New York Gov, NBC, of Pennsylvania, Hilton, UnitedHealth, Attorney, Port, NYPD, New York Police Locations: New York City, Hollidaysburg , Pennsylvania, New York, Mangione, Manhattan, Jersey, Pennsylvania, Baltimore, midtown, Washington Heights, United States, New
Wall Street has fallen in love with the mobile adtech and gaming company AppLovin. AppLovin's recent push into e-commerce sent its market valuation over the $100 billion milestone. Shares in the mobile ads and gaming company AppLovin have been running wild — and advertising industry insiders have a lot of questions. Jeromy Sonne, the founder of marketing AI technology company Simbiant, has been monitoring the early AppLovin e-commerce results. Advertisement"If Adam was in control, Snap could be a $100 billion business — a $200 billion, $300 billion company — and AppLovin would be stronger too," Merutka said, referring to AppLovin CEO Adam Foroughi.
Persons: AppLovin, It's, Piper Sandler, it's, Adam Foroughi, John Roque, Russell, Tim Nollen, Nollen, Cody Pfloker, Pfloker, Will Holtz, Holtz, Jeromy Sonne, he'd, hadn't, AI's Holtz, Thomson, Alex Merutka, Adam, Merutka, AppLovin execs, Foroughi Organizations: Nasdaq, Meta, Macquarie Equity, Google, AppLovin, Zynga, Thomson Reuters, Bloomberg, Nasdaq Investor Locations: AppLovin, Alto, Farmville
CNN —Drinking a small amount of wine each day may protect the heart, according to a new study of Spanish people following the plant-based Mediterranean diet, which typically includes drinking a small glass of wine with dinner. “People often say that ‘wine is good for the heart’ but we also know too much wine is ‘not good for the heart’,” said Paul Leeson, professor of cardiovascular medicine at the University of Oxford, who was not involved in the study. Igor Alecsander/iStockphoto/Getty ImagesQuestionable conclusionsThe research, published today in the European Heart Journal, is part of an ongoing Spanish study investigating the impact of a Mediterranean diet on people at risk for heart disease. “By measuring tartaric acid in the urine, alongside food and drink questionnaires, we have been able to make a more accurate measurement of wine consumption,” Estruch said. Naveed Sattar, a professor of cardiometabolic medicine and honorary consultant at the University of Glasgow in Scotland who was not involved with the study, advised against drinking wine or any alcohol for good health.
Persons: Ramon Estruch, , Tracy Parker, ” Parker, Paul Leeson, Igor Alecsander, ” Estruch, Kevin McConway, ” McConway, Leeson, ” Leeson, Parker, Naveed Sattar, , ” Sattar Organizations: CNN, University of Barcelona, Hospital Clinic, British Heart Foundation, University of Oxford, Heart, Open University, University of Glasgow Locations: Barcelona, Milton Keynes, United Kingdom, Scotland
New York CNN —Taco Bell is veering away – slightly – from its Mexican-inspired cuisine, going all-American for its newest offering. Beginning Thursday, the chain is adding chicken nuggets to its menu for a limited time. But it’s part of Taco Bell’s plan to expand its poultry portfolio as younger eaters largely prefer it over red meat. Prices vary depending on the city, with Taco Bell suggesting a retail price of $3.99 for five nuggets with one sauce and $6.99 for 10 nuggets with two sauces. The last time Taco Bell served anything closely resembling chicken nuggets was in 2017, when the “Naked Chicken Chips” was also a limited time offering.
Persons: Taco, Taco Bell, Bell’s, Mark King, Organizations: New, New York CNN, McDonald’s, Taco, Taco Bell Locations: New York, Taco
If you're eager to save more for retirement, it's not too early to boost 401(k) plan contributions for 2025, financial experts say. For 2025, you can defer up to $23,500 into 401(k) plans, up from $23,000 in 2024. For workers age 50 and older, the 401(k) catch-up contribution remains at $7,500 for 2025. But there's a "super funding" opportunity for 401(k) catch-up contributions for a subset of savers, according to Tommy Lucas, a certified financial planner and enrolled agent at Moisand Fitzgerald Tamayo in Orlando, Florida. However, boosting contributions later could still be beneficial for savers in this age range, experts say.
Persons: it's, Tommy Lucas, Moisand Fitzgerald Tamayo, Slash, Catherine Valega Organizations: Finance, Secure, Green Bee Locations: Orlando , Florida, Boston
Guests can sleep on the USS Cobia, a World War II submarine, at the Wisconsin Maritime Museum. The submarine is listed on Airbnb and can sleep up to 65 people in sailors' bunks. For years, the Wisconsin Maritime Museum hosted Boy Scout troops and other large groups on the submarine, which can sleep up to 65 people. "The Sub Bnb was a business move in many ways for the sustainability of the museum," Wisconsin Maritime Museum director Kevin Cullen told Business Insider. AdvertisementIn December, I visited the Wisconsin Maritime Museum for an overnight stay on the USS Cobia accompanied by my dad, a maritime enthusiast.
Persons: Kevin Cullen, Cullen Organizations: Wisconsin Maritime Museum, US Navy, Boy Scout, Business, Sub Locations: Manitowoc, Airbnb, Wisconsin
We tried Buffalo chicken wings from five chains to determine the best option for game day. Buffalo chicken wings arguably reign supreme among the most popular game-day foods and are practically synonymous with football season. A report by the National Chicken Council estimated Americans would eat 1.45 billion chicken wings during the 2024 Super Bowl. We ranked Buffalo chicken wings from five chain restaurants — Applebee's, Chili's, Buffalo Wild Wings, TGI Fridays, and Wingstop — based on taste and value. AdvertisementHere's how the five chain restaurants' Buffalo wings ranked, from our least to most favorite.
Persons: Wingstop Organizations: National Chicken Council, Buffalo Wild Wings, Buffalo Locations: Buffalo, Chili's
In 2017, the drug industry middleman Express Scripts announced that it was taking decisive steps to curb abuse of the prescription painkillers that had fueled America’s overdose crisis. The company said it was “putting the brakes on the opioid epidemic” by making it harder to get potentially dangerous amounts of the drugs. One reason, a New York Times investigation found: Drugmakers had been paying them not to. For years, the benefit managers, or P.B.M.s, took payments from opioid manufacturers, including Purdue Pharma, in return for not restricting the flow of pills. As tens of thousands of Americans overdosed and died from prescription painkillers, the middlemen collected billions of dollars in payments.
Persons: Drugmakers, overdosed Organizations: New York Times, Purdue Pharma
Still, many financial advisors remain wary. "As traditional long-term planners, we currently do not incorporate crypto in our portfolio allocations," said certified financial planner Marianela Collado, CEO of Tobias Financial Advisors in Plantation, Florida. To be sure, regulatory uncertainty remains a clear area of concern for financial advisors when it comes to recommending crypto investments to clients. In April, when crypto prices were lower, an annual survey of 2,000 financial advisors by Cerulli Associates found that 59% don't currently use cryptocurrencies or plan to in the future. Spot bitcoin ETFs, first available in January, now have more than $100 billion in assets under management, which is about 1% of the overall ETF market.
Persons: Donald Trump, Marianela Collado, Cerulli, Brian Hartigan, CNBC's Organizations: bitcoin, Financial, Cerulli Associates, CFP Ashton Lawrence, Mariner Wealth Advisors Locations: Plantation , Florida, Greenville , South Carolina
U.S. President-elect Donald Trump walks with Elon Musk before attending a viewing of the launch of the sixth test flight of the SpaceX Starship rocket, in Brownsville, Texas, U.S., November 19, 2024. Senator Elizabeth Warren has asked Donald Trump's transition team to hold Elon Musk to the same ethics standards as other transition members, putting oversight of the unusually powerful presidential adviser in the spotlight. Musk spent over a quarter billion dollars to help elect Trump, and also owns interests in cryptocurrency and other ventures. The Trump transition team had no immediate comment. Asked about Musk's potential conflicts, Trump told Time magazine in an interview published on Dec. 12: "I think that Elon puts the country long before his company."
Persons: Donald Trump, Elon Musk, Elizabeth Warren, Donald Trump's, Musk, Trump, Warren, Elon Organizations: Elon, SpaceX, Republican Trump, Trump, ., Department of Government, Time Locations: Brownsville , Texas, U.S, cryptocurrency
CNN —A women-only art installation accused of being “discriminatory” by a disgruntled man who was denied entry is reopening Thursday having successfully fought for its legal right to exist. The Ladies Lounge, at the Museum of Old and New Art (MONA) in Tasmania, Australia, was created five years ago by artist Kirsha Kaechele, the wife of the museum’s founder and owner David Walsh. The installation, complete with lavish decor and a butler serving champagne, carried on uninterrupted until Jason Lau visited Mona last year. When Lau was denied access to the Ladies Lounge on the basis of his male identity, he sued MONA for discrimination. In September the supreme court quashed the tribunal’s ruling, and MONA this week announced that the Ladies Lounge will reopen for a lap of honor from Thursday until mid-January, 2025.
Persons: Kirsha Kaechele, David Walsh, Jason Lau, Mona, Lau, MONA, ” Kaechele, Kaechele, Read Organizations: The Art, CNN, Museum, butlers Locations: Tasmania, Australia, Tasmania’s, Hobart
Editor’s note: If you or someone you know is struggling with mental health, help is available. CNN —The steps you take each day could lead you to a reduction in depression symptoms, according to a new study. A study published Monday in the journal JAMA Network Open found that a higher daily step count is associated with fewer depressive symptoms. And taking more steps isn’t the only move you can make toward better mental health, Choi said. “Step count is a nice proxy for physical activity, which has been consistently shown to have beneficial effects on depression risk,” she added.
Persons: , Bruno Bizzozero, Karmel Choi, Choi, , Brendon Stubbs, Stubbs, Oleg Elkov, ” Choi, Michael Noetel, Noetel, ” Noetel Organizations: CNN, JAMA, Health and Social Research Centre, University of Castilla, La, Harvard Medical School, National Institute for Health and Care, King’s College London, of Psychology, University of Queensland Locations: La Mancha, Spain, Australia
The couple, played by Kelly Reilly and Cole Hauser, are rumored to be reuniting for a spinoff show. Here's a complete timeline of the pair's passionate relationship from the pilot to the finale. AdvertisementSince the very beginning, Beth Dutton and Rip Wheeler's relationship has been considered the beating heart of Paramount Network's "Yellowstone." AdvertisementIn the end, Beth (Kelly Reilly) and Rip (Cole Hauser) decided to buy a new, smaller ranch for themselves where they could live together peacefully. AdvertisementDays before the finale aired, Deadline broke the news that Reilly and Hauser would reprise their roles to star in a" Yellowstone" spinoff series, according to sources close to production.
Persons: Beth, Kelly Reilly, Cole Hauser, Beth Dutton, Rip, Taylor Sheridan, John Linson, it's, Hauser, Taylor, Kelly, Reilly Organizations: Paramount, Hollywood, Network Locations: Beth
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