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The interest rate outlook will come back into focus next week with key inflation data and Federal Reserve meeting minutes coming out ahead of Thanksgiving, as investors wrap up a major month for markets following President-elect Donald Trump's election victory. The October personal consumption expenditure (PCE) price index set to release Wednesday could dent already-dimming hopes for a December rate cut if it comes in hotter than expected. The inflation rate is expected to have increased 0.2% month over month and 2.3% year on year. Rosy expectations Even with the interest rate cut expectations coming in, investors are optimistic on the direction for stocks to close out the year and into 2025. Goldman Sachs' David Kostin this week said he expects the S & P 500 can end next year at 6,500.
Persons: Donald Trump's, , Luke O'Neill, Stocks, O'Neill, Goldman Sachs, David Kostin, Morgan Stanley's Mike Wilson, Brian Belski, Tom Hainlin, Jeff Cox Organizations: Federal Reserve, Alpha Fund, Nasdaq, Dow Jones, BMO, UBS, Bank Asset Management, Dell Technologies, Chicago, New, Richmond Fed, Devices, Autodesk, PCE Deflator, Chicago PMI Locations: U.S, Chicago
Xi outlined China's "red lines" for the US, including the country's rights to development. He told Washington not to cross "four red lines" — which analysts say is a clear message for the incoming Trump administration. Foreign Minister Wang Yi has warned about not crossing Beijing's "red lines" in the past. AdvertisementXi's language raised some eyebrows, with analysts calling it "harsh" and deeming China's foreign ministry readout "strikingly negative" in some sections. Related storiesXi named Taiwan President William LaiOf the four "red lines," Taiwan is the most sensitive issue between the two countries, as Xi has repeatedly said over the years.
Persons: Jinping, Biden, Xi, Xi Jinping, Joe Biden, Washington, Trump, Igor Khrestin, George W, Khrestin, it's, Wang Yi, Florida Sen, Marco Rubio —, Beijing —, Jersey Lee, William Lai, William Lai Ching, Democratic Progressive Party —, Lai Ching, Lai, Tsai Ming Organizations: Trump, APEC Economic, Bush Institute, Trump Administration, Business, Beijing, State, Lowy, Democratic Progressive Party, Taiwan's National Security Bureau Locations: Beijing, China, Lima , Peru, Taiwan, Florida, United States, US, Ukraine
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Steve Auth, Federated Hermes equities CIOSteve Auth, Federated Hermes equities CIO, joins CNBC's 'The Exchange' to discuss expectations for how Trump's trade policy will impact U.S. growth.
Persons: Steve Auth Organizations: Hermes
JPMorgan says this steelmaker could gain more than 20% from here
  + stars: | 2024-11-22 | by ( Pia Singh | In | ) www.cnbc.com   time to read: +2 min
Carpenter Technology has multiple avenues of growth over the next few years, according to JPMorgan. Analyst Bennett Moore initiated coverage of the U.S.-based stainless steel and alloys manufacturer with an overweight rating and a price target of $220. "Shares have rallied ... on the back of strong demand, solid execution, and an attractive earnings outlook, and we feel the company is well positioned to capture further upside," Moore said in a Thursday note. Moore's investment thesis is built on the company's robust demand for its mostly customer-specific premium products, which he said gives Carpenter strong pricing power and supported its position as an "indispensable supplier." Carpenter Technology makes stainless steel and alloys, including a steel alloy used in manufacturing high-end knives.
Persons: Carpenter, Bennett Moore, Moore, Tim Leedy Organizations: Carpenter Technology, JPMorgan, Carpenter's, Medianews, Getty Locations: U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. will take a light stance on regulating AI, says SandboxAQ CEO Jack HidaryJack Hidary, SandboxAQ CEO, joins 'Money Movers' to discuss Nvidia and how AI will perform under Trump's administration.
Persons: Jack Hidary Jack Hidary Organizations: Nvidia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrump administration may try to reverse Biden-era climate policies: former U.S. energy secretarySteven Chu, former U.S. energy secretary, discusses U.S. President-elect Donald Trump's energy policies.
Persons: Steven Chu, Donald Trump's Organizations: Biden Locations: U.S
CNBC's Jim Cramer on Friday said companies related to natural gas and oil will thrive under President-elect Donald Trump's administration and a majority Republican Congress. "If you want a sustainable Trump trade, I say bet on the natural gas ecosystem. Enbridge says it transports about 20% of all natural gas consumed in the U.S., and Cramer claimed the Canadian outfit has "strategically located assets." He also named Cheniere and Sempra , saying the former is the "best play" for liquified natural gas exports. "Seasonally, this is a good time for the commodity," he said, pointing out that natural gas itself has climbed since the election.
Persons: CNBC's Jim Cramer, Donald Trump's, Joe Biden's, Cramer, Trump, Chris Wright, Kinder Morgan, Enbridge Organizations: Republican Congress, Trump, Department of Energy, Energy Locations: underperform, U.S
In today's big story, billionaire Ken Griffin has some advice for President-elect Donald Trump, including a suggestion for his Treasury pick . While speaking Thursday at the Economic Club of New York, Griffin said he appreciates the importance of those issues to Americans but said aggressive tactics to address them could make things work. Griffin is one of the biggest donors to the Republican Party, but declined to publicly endorse either presidential candidate this year. AdvertisementModeration hasn't been the name of the game for Trump with some of his proposed policies. AdvertisementHe said he'd be open to selling a minority stake in his hedge fund to the right partner.
Persons: it's, Ken Griffin, Donald Trump, Trump Ken Griffin, Mike Blake, Insider's Bradley Saacks, Michelle Abrego, Griffin, Manny Roman, Trump, Marc Rowan, Rowan, Alexander Tamargo, Thoma Bravo Griffin, he'd, Zalubowski, Chelsea Jia Feng, Elon, Paul, Tyson, Megyn Kelly, Tucker Carlson Ron Antonelli, Chip Somodevilla, Rebecca Zisser, Tucker Carlson, Bari Weiss, BI's Peter Kafka, Chris Balfe, Ridley Scott's, You've, Dan DeFrancesco, Jack Sommers, Grace Lett, Ella Hopkins, Amanda Yen, Milan Sehmbi Organizations: Business, Treasury, Trump, Citadel, Milken, Global Conference, Reuters, Economic, of New, Republican Party, Citadel Securities, Sequoia, Millennium Management, BlackRock, Chelsea, Getty, Netflix, Bank of America, NY Daily, Fox News, Auto, Ford, GM, Volkswagen Locations: Beverly Hills , California, U.S, of New York, Montreal, New York, London, Chicago
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Markets digest Nvidia earningsU.S. markets rose on Thursday after digesting Nvidia's earnings release. "If someone bought or if the Bluesky company went down, everything is open source." [PRO] Focus on Nvidia's BlackwellDespite Nvidia's revenue growth rising at a slower pace each subsequent quarter, analysts are still optimistic on the stock.
Persons: Donald Trump, Michael Novogratz, Trump's, Trump, Bluesky, Jay Graber, Nvidia's Blackwell, Blackwell, Colette Kress Organizations: CNBC, U.S . Department of Justice, Google, Chrome, JD Sports, Galaxy Digital, U.S . Federal Reserve, Elon, Nvidia Locations: British
AdvertisementDonald Trump's sentencing in his New York hush-money case has been officially put off. President-elect Donald Trump's scheduled sentencing in his New York criminal case will not move forward next week, a Manhattan judge ruled on Friday. The sentencing in the former and future president's hush-money case had been on the calendar for November 26. Merchan ordered that Trump's motion is due by December 2, and prosecutors should respond by December 9. "All of the sham lawfare attacks against President Trump are now destroyed and we are focused on Making America Great Again."
Persons: Donald Trump's, Juan Merchan, Merchan, Trump, Steven Cheung, Hunt, Stormy Daniels, Attorney Alvin Bragg, Bragg Organizations: Trump, White House, American People, Manhattan, Attorney Locations: New York, Manhattan
Prosecutors said four of his associates discussed their share of the bribes via Excel and PowerPoint. New York prosecutors charging one of India's richest men with bribery said his associates used Microsoft Excel and PowerPoint to discuss and analyze their corrupt payments. AdvertisementThe Adani Group and attorneys for the other defendants did not respond to requests for comment from BI. Prosecutors said that during this period, the Adani Group falsely told investors at least four times that it had not paid bribes. AdvertisementIn a statement on its website on Thursday, the Adani Group said the prosecution's accusations are "baseless and denied."
Persons: Gautam Adani, Prosecutors, Adani, Sam Bankman, Sagar Adani, Vneet Jaain, Rupesh Agarwal, Agarwal, Cyril Cabanes, Sagar Organizations: Excel, New, Microsoft, Adani, Energy, Power, Prosecutors, New York Stock Exchange, Eastern, of, Adani Group, US Department of Justice, Adani Enterprises, SEC, Wednesday Locations: New York, India, of New York, British, Hong Kong, Indian
President-elect Donald Trump's tariff plans could weigh on the broader stock market, but some attractively valued names with strong cash levels could withstand the pressure, according to UBS. "The rally overlooks the potentially negative knock-on implications of tax cuts and tariffs on corporate performance and valuations." Against that backdrop, UBS looked for stocks that have high levels of cash and are attractively valued. The stock has a dividend yield of 2.7%. It has a dividend yield of 2.2%.
Persons: Donald Trump's, Trump, Michel Lerner, Lerner, Smoot, Paychex, Jason Kupferberg Organizations: UBS, Bank of America, CVS, Federal Trade Commission, Glenview Capital Locations: China, U.S, Hawley
AdvertisementRoyal Caribbean launched Utopia of the Seas, the second-largest cruise ship in the world, in July. I spent three nights in the ship's Royal Promenade-facing interior cabin. It was better than having no window, but don't expect natural light or silent nights. These savings come with a trade-off — they're often windowless and dingy, with no natural light to be found. Royal Caribbean has found a way to give cruisers the best of both worlds, in theory at least.
Locations: Royal Caribbean
AdvertisementTrump's proposed tariffs could raise costs for hardware startups making physical goods. Hardware startups rely on a host of manufacturers that are mostly based in China. When China-based manufacturers ship the final products back, the hardware startups may get hit with levees of up to 60 percent on goods from China, according to Trump's statements during his campaign. AdvertisementThe impact on startups: 'We're done here'In the aftermath of Trump's election win, euphoria is sweeping through the business world. AdvertisementHe said he's worried about the potential for Trump tariffs to spark a recession.
Persons: Donald Trump's, Nikhil Basu Trivedi, Jared Friedman, Combinator, Friedman, Graham Anderson, Marc Andreessen, Elon Musk, Bradley Tusk, Santosh Sankar, Trump's, Tim Cook, Cook, Donald Trump, Ivanka Trump, Steven Mnuchin, Mandel Ngan, Alan Deardorff, Trump, Deardorff, he'll, Lea Suzuki, Spencer Penn, Tesla, Penn, , Chris Van Dyke's, he's, Van Dyke Organizations: Investors, Elon, Washington Post, Washington, Dynamo Ventures, Apple, Trump, Mac, Getty, Big Tech, University of Michigan, Tesla, San Francisco Locations: China, Asia, When China, Flexport, Austin , Texas, AFP, Fremont , California, Europe
Four big reasons to own gold into 2025
  + stars: | 2024-11-22 | by ( Sean Conlon | ) www.cnbc.com   time to read: +2 min
On Friday, spot gold rose about 1% amid increasing tensions between Russia and Ukraine . Secondly, the global interest rate-cutting cycle will also stretch into 2025, which will serve as another driver of higher gold prices. Moreover, a push among central banks to diversify their reserves away from the dollar could also provide some additional support for gold, he said. "We expect the de-dollarization trend among central banks and private asset managers to continue," Khandelwal said. "We estimate central banks bought around 900 metric tons of gold in 2024, and these volumes can be sustained well above the prior decade's average of around 325 metric tons a year."
Persons: Gold, Donald Trump's, Sagar Khandelwal, Khandelwal Organizations: UBS, UBS Global Wealth Management Locations: Russia, Ukraine
Watch CNBC’s full interview with SandboxAQ CEO Jack Hidary
  + stars: | 2024-11-22 | 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 EmailWatch CNBC’s full interview with SandboxAQ CEO Jack HidaryJack Hidary, SandboxAQ CEO, joins 'Money Movers' to discuss Nvidia and how AI will perform under Trump's administration.
Persons: Jack Hidary Jack Hidary Organizations: Nvidia
AdvertisementMick Mulvaney said he doubts Musk can cut $2 trillion from the federal budget, per NYT. Mulvaney also told clients he doesn't think Musk will be around long enough to his cuts through. Musk and Ramaswamy outlined their cost-cutting plans in a recent opinion piece. Mick Mulvaney, President-elect Donald Trump's second chief of staff, doubts that Elon Musk will achieve his lofty goal of slashing $2 trillion from the federal budget, sources told the New York Times. Musk founded SpaceX with a goal of colonizing the Red Planet and wore an "Occupy Mars" shirt at a Trump rally in October.
Persons: Mick Mulvaney, Mulvaney, Ramaswamy, Donald Trump's, Elon, Musk, Elon Musk, Vivek Ramaswamy, doesn't, David Sacks, Palantir, Joe Lonsdale, he's, Cantor Fitzgerald, Howard Lutnick Organizations: New York Times, Actum, Times, SpaceX, Trump, Department of Government, Management, Street
AdvertisementUS troops remain in Syria to counter ISIS and patrol oil fields in the region. For almost a decade, US troops have been on the ground in Syria to assist Kurdish-led forces in the defeat of the infamous Islamic State. AdvertisementDuring his first term, Trump ordered the withdrawal of US troops partnered with the Kurdish-led Syrian Democratic Forces after ISIS' territorial defeat. Trump then backtracked and kept 900 US troops in Syria. Advertisement"We may have felt frustrated during Trump's first term due to his decision to withdraw American forces from Syria in 2019," Mohamad said.
Persons: Trump, tamp, Donald Trump, specter, Sinam Mohamad, Trump's, Mohamad, Bashar al, Assad, Mohammed A, Salih, Delil SOULEIMAN, Paul Iddon Organizations: ISIS, Syrian Democratic Forces, Office, Syrian Democratic Council, Autonomous Administration, North, Kurdistan Workers ' Party, Trump, Foreign Policy Research Institute, SDF Locations: Syria, Turkey, Kurdish, State, Russia, United States, East Syria, Syrian, Kurdistan, Ankara, America, Jordan, Hol, Afghanistan, Iran, North
President-elect Donald Trump is considering naming Kevin Warsh as Treasury secretary then ultimately sending him off to serve as Federal Reserve chair, according to a Wall Street Journal report. The speculation comes with Treasury being the last major Cabinet position for which Trump has yet to state his intention. Among the potential scenarios would be one where Bessent would lead the National Economic Council initially then go over to Treasury after Warsh takes over at the Fed. However, Trump is known for the propensity to change his mind, and the report noted that nothing has been finalized. Read the full Wall Street Journal story here.
Persons: Donald Trump, Kevin Warsh, Warsh, Jerome Powell's, Trump, Marc Rowan, Scott Bessent Organizations: Wall, Fed, Treasury, Apollo Global Management, National Economic Council
They named Planned Parenthood as something that could be targeted for cuts. Planned Parenthood is preparing to face off with Elon Musk's Department of Government Efficiency after it identified the reproductive health provider as fat to be trimmed. We fended off a number of these attacks during Trump's first term — and Planned Parenthood health centers are still there serving millions of patients across the nation." AdvertisementIn a press release, the organization said its health centers saw a surge in appointments following Trump's reelection, including a 1,200% increase in vasectomy appointments and a 760% in IUD appointments. Advertisement"Like any other healthcare provider or hospital, Planned Parenthood affiliates are reimbursed for services provided to patients at health centers.
Persons: Elon Musk, Vivek Ramaswamy, Ramaswamy, Alexis McGill Johnson, Donald Trump, McGill Johnson, We've, Trump's, Douglas Holtz, it's, Holtz, Eakin Organizations: of Government Efficiency, Elon, Elon Musk's Department, GOP, Planned Parenthood Federation of America, Congressional, Office, Management
Global citizenship firms said clients are especially concerned about LGBTQ+ rights and the economy. American interest in secondary passports has been on the rise over the last year — and global citizenship firms have reported another surge since President Donald Trump's reelection. AdvertisementThe firm said it saw a 392% increase in inquiries from US nationals during election week compared to the week prior. AdvertisementHe said people are concerned about Trump's promise to raise tariffs, and how that could impact the economy and the US dollar. Leading up to the 2020 election, Jafri said there was an increase in interest from his clientele's Republican contingent.
Persons: Donald Trump's, Judi Galst, Reaz Jafri, Dasein, Jafri, isn't, he's, Galst, Rose Emmett, she's, Emmett, Elizabeth Warren, they've, Galt Organizations: Global, Henley & Partners, New, CS Global Partners, Republican Locations: New York, Europe, London, United States
AdvertisementBitcoin is hovering near $100,000 as Trump considers a new crypto chief for his administration. Charles Schwab's incoming CEO said he has not personally invested in crypto and prefers stocks. Schwab plans to enter spot crypto trading, pending regulatory changes under Trump's policies. "Well, I think what's holding me back is just a question around the true value of crypto," he said. Advertisement"We will get into spot crypto when the regulatory environment changes, and we do anticipate that it will change, and we're getting ready for that eventuality," Wurster said.
Persons: Charles Schwab's, Schwab, Crypto, they've, Rick Wurster, Wurster, he's, Donald Trump's, Bitcoin, Trump, I've, I'm, They've, Andreessen Horowitz, we're Organizations: Trump, Bloomberg, Biden, Fidelity Investments, Robinhood Locations: bitcoin
AdvertisementBarbara Corcoran says it's "disturbing" how young people are being locked out of the housing market. The "Shark Tank" investor pointed to first-time buyers getting older and losing out to cash buyers. High prices, steep mortgage rates, and fierce competition are locking young people out of becoming homeowners, Barbara Corcoran says. Plus, the median age of first-time buyers climbed from 35 to 38. Corcoran also dismissed concerns that the housing market is overheated and headed for a slump.
Persons: Barbara Corcoran, Corcoran, Trump, Sellers, , they're, Trump's Organizations: Fox Business Network, The Corcoran Group, National Association of Realtors
Carpenter Technology has multiple avenues of growth over the next few years, according to JPMorgan. Analyst Bennett Moore initiated coverage of the U.S.-based stainless steel and alloys manufacturer with an overweight rating and a price target of $220. "Shares have rallied ... on the back of strong demand, solid execution, and an attractive earnings outlook, and we feel the company is well positioned to capture further upside," Moore said in a Thursday note. Moore's investment thesis is built on the company's robust demand for its mostly customer-specific premium products, which he said gives Carpenter strong pricing power and supported its position as an "indispensable supplier." Carpenter Technology steel alloy making.
Persons: Carpenter, Bennett Moore, Moore, Tim Leedy Organizations: Carpenter Technology, JPMorgan, Carpenter's, Medianews, Getty Locations: U.S
Top 10 S&P 500 stock winners since Election Day
  + stars: | 2024-11-22 | by ( Greg Iacurci | ) www.cnbc.com   time to read: +4 min
Michael M. Santiago | Getty Images News | Getty ImagesMany large U.S. companies have seen their stocks swell since the presidential election. The top 10 performing stocks in the S&P 500 index saw returns of 18% or more since Election Day, according to data provided by S&P Global Market Intelligence, which analyzed returns based on closing prices from Nov. 5 to Nov. 20. The 'Elon Musk premium'And then there's the Elon Musk factor. Tesla's stock got an "Elon Musk premium" from Trump's victory, said Goldberg of Professional Advisory Services. Shares of the electric-vehicle maker soared 14% the day after the election and almost 30% by week's end.
Persons: Michael M, Elon Musk, Donald Trump —, Jeremy Goldberg, Goldberg, Jacob Manoukian, Rosy, outperformance, David Glazer, Paul Moseley, Vistra, Stacey Doré, Elon, Trump, Donald Trump, Chris Unger Organizations: New York Stock Exchange, Santiago, Getty, P Global Market Intelligence, Professional Advisory Services, Inc, Trump, Deregulation, Morgan Private Bank, Companies, Warner Bros ., Max, Disney, Walt Disney Co, Palantir Technologies, Fort Worth Data, Fort Worth Star, Tribune, Service, Vistra Corp, Tech, Elon, Professional Advisory Services ., of Government, week's, UFC, Madison, Garden, Ufc Locations: U.S, Texas, , Texas , Pennsylvania, Ohio, New York
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