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Dollar pulls ahead as markets focus on Trump policies, Fed outlook
  + stars: | 2024-11-21 | by ( ) www.cnbc.com   time to read: +4 min
After stalling for three sessions, the greenback was back on the march higher, with investors lifting the dollar index measure against its key rivals closer to a one-year high of 107.07 hit last week. The dollar has rallied more than 2% since the Nov. 5 U.S. presidential election on bets Trump's policies could reignite inflation and temper the Fed's future rate cuts. The dollar index held steady at 106.56, up from a one-week nadir hit in the previous session. "The Russia-Ukraine conflict is heating up, which is further denting sentiment towards the euro alongside the prospects of trade tariffs," another "bullish cue" for the dollar index given the euro's heavy weighting, City Index's Simpson said. The dollar gave up some gains against the yen, down 0.33% at 154.91 yen , although the Japanese currency remained under pressure.
Persons: Donald Trump's, Matt Simpson, CME's, Michelle Bowman, Lisa Cook, Index's Simpson, Kazuo Ueda, Sterling, bitcoin, Bitcoin Organizations: U.S, Federal Reserve, Wednesday, Storm, ATACMS, Bank of Japan, Bank of England's Locations: Europe, China, Russia, Ukraine, Paris
E.l.f. CEO addresses short seller's fraud accusations
  + stars: | 2024-11-21 | by ( Julie Coleman | ) www.cnbc.com   time to read: +2 min
Hedge fund Muddy Waters said Wednesday that it had shorted shares of E.l.f., alleging that the cosmetics company had overstated its inventory numbers. asked the U.S. Customs and Border Protection in February to keep its import data confidential for "competitive reasons," so Muddy Waters' claims don't hold weight. But Muddy Waters claimed its proof of deceit goes beyond import data. "In addition to the import data, Muddy Waters confirmed with three of E.l.f. 's purchases have declined this calendar year," Muddy Waters founder Carson Block told CNBC in a statement.
Persons: CNBC's Jim Cramer, E.l.f, Tarang Amin, Amin, Muddy Waters, Waters, Muddy, Carson Block, Circana Organizations: U.S . Customs, Protection, Muddy Waters, CNBC, Nielson Locations: E.l.f, U.S
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Emaile.l.f Beauty CEO Tarang Amin: 'Our facts unravel' the short report against companye.l.f Beauty CEO Tarang Amin joins 'Mad Money' host Jim Cramer to talk the recent short-seller call against the company.
Persons: Tarang Amin, Jim Cramer Organizations: e.l.f
AdvertisementDonald Trump renegotiated a deal with Boeing for a new Air Force One in his first term as president. Following years of delays, billions of dollars, and his return to the presidency, Donald Trump is set to fly on the new Air Force One after all. In 2015, the Air Force again chose Boeing to build two new planes, this time based on the larger 747-8. The VC-25B project is known as the "Next Air Force One." Courtesy of the Air ForceWhile the government is paying $3.9 billion for the new jets, Boeing has suffered from the Next Air Force One.
Persons: Donald Trump, Trump, Dennis Muilenburg, Donald J, Boeing's, Joe Biden, Kennedy, Dave Calhoun, wasn't Organizations: Boeing, Air Force One, Next Air Force, Air Force, Force, Trump, ABC, Trump Shuttle, Reuters, Street Journal, Business Locations: Russian, United States
This is due to unprofitable EV investments, Chinese market losses, and more domestic competition. Ford, General Motors, and Stellantis plan to slash thousands from their workforce in the coming months. AdvertisementBut despite that growth — and with EVs accounting for roughly 10% of US auto sales — companies not named Tesla have struggled to make their EV businesses profitable. German carmakers are losing out to Chinese EV upstarts like BYD. Analysts say inventory levels are improving at Stellantis and industry-wide as automakers react to a slower sales environment.
Persons: Ford, Josh Lefkowitz, EVs, That's, Tesla, Tim Levin, Daniel Pier, Stellantis, Price, Donald Trump Organizations: Ford, GM, Volkswagen Group, General Motors, Volkswagen, Silverado, Angeles Auto, EV, Cadillac, VW Group, Geely, VW, Competition Locations: Germany, Cadillac Lyriq, China, United States
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Emaile.l.f Beauty CEO Tarang Amin goes one-on-one with Jim Cramere.l.f Beauty CEO Tarang Amin joins 'Mad Money' host Jim Cramer to talk the recent short-seller call against the company.
Persons: Tarang Amin, Jim Cramer e.l.f, Jim Cramer
So that's why I say there's plenty of meat left on the bone for investing in credit munis," McFee said. Sector outlook Municipal bond funds buy and hold fixed income instruments issued by state and local governments or related entities. Over the past month, major index funds iShares National Muni Bond ETF (MUB) and Vanguard Tax-Exempt Bond ETF (VTEB) have raked in about $2.2 billion of combined inflows, according to FactSet. The big iShares and Vanguard muni funds have each returned about 1.7%, year to date, compared with 1.6% for the iShares Core U.S. And Vanguard is not the only asset manager pushing new muni funds into the market.
Persons: weren't, Steve McFee, McFee, Goldman Sachs Organizations: Vanguard, Bond, McFee, AAA, Muni Bond ETF, Vanguard muni, iShares, Aggregate Bond
Gautam Adani, chairman of Adani Group, following a Bloomberg Television interview at the company's headquarters in Ahmedabad, Gujarat, India, on Saturday, May 25, 2024. The head of a $25 billion Indian energy company, the former CEO of a New York-listed energy firm, and one of Asia's wealthiest men were set to meet in New Delhi to discuss business. To prepare for the meeting, Vneet Jaain, chief executive of $25 billion Adani Green Energy , photographed a document on his cellphone. There are also concerns about whether Adani companies will be able to raise debt in the future in U.S. markets. Earlier this year, the stock market regulator's chair, Madhabi Buch, was accused of having a conflict of interest while investigating Adani group companies, according to short-seller Hindenburg.
Persons: Gautam Adani, Sumit Dayal, Vneet Jaain, Gautam, Jaain, James Dennehy, Adani, Adani Green, What's, firm's, Matt Orton, Raymond James, CNBC's Tanvir Gill, Orton, it's, India's, Rahul Gandhi, Madhabi Organizations: Adani, Bloomberg, Getty, Green Energy, Eastern, of, NYSE, U.S, Securities Exchange Commission, New York Stock Exchange, SEC, U.S . Department of Justice, Energy, Adani Enterprises, GQG Partners, firm's Sydney, Citi, State Bank of India, DBS Group, DBS, Regulators, Federal Bureau of Investigations, Central Bureau of Investigations, Securities and Exchange Board of India, CNBC Locations: Ahmedabad, Gujarat, India, New York, New Delhi, of New York, U.S, Foreign, Singapore, Madhabi Buch
New York CNN —The Jeep Gladiator was unveiled to great fanfare by then-owner Fiat Chrysler in 2018, the first pickup model for the hot brand in more than a quarter of a century. Gladiator sales have fallen steadily from the 2020 peak as a result and are down another 21% so far this year. The company’s relentless focus on short-term profits for 2023 had devastating consequences for Stellantis, Farris wrote. A car hauler transporting Jeep Wranglers drives past striking United Auto Workers members outside the Stellantis Jeep Plant in Toledo, Ohio, during the 2023 strike. One of the two factories at that assembly complex is about to lose one of the two shifts that builds the Jeep Gladiator.
Persons: Stellantis, Dodge, , Jessica Caldwell, Edmunds, , Charlie Chesbrough, Kevin Farris, Carlos Tavares, Farris, Farris ’, Rebecca Cook, “ You’re, he’s, ” Farris Organizations: New, New York CNN, Fiat Chrysler, Fiat Chrysler’s, PSA Group, Gladiators, General Motors, Ford, Chrysler, Pacifica minivan, Toledo Assembly, Stellantis, Ford Motor, Cox Automotive, Dealers, Council, United Auto Workers, Jeep Wranglers, CNN, Challenger, Cherokee, Renegade Locations: New York, Toledo, Edmunds, Warren , Michigan, Stellantis, Toledo , Ohio
Ken Griffin, chief executive officer and founder of Citadel Advisors LLC, speaks during an Economic Club of New York event in New York, US, on Thursday, Nov. 21, 2024. Citadel CEO Ken Griffin issued a warning against the steep tariffs President-elect Donald Trump vowed to implement, saying crony capitalism could be a consequence. "I am gravely concerned that the rise of tariffs puts us on a slippery slope towards crony capitalism," the billionaire investor said Thursday at the Economic Club of New York. Crony capitalism is an economic system marked by close, mutually advantageous relationships between business leaders and government officials. At the same event, Griffin also said that he's not focused on taking Citadel Securities public in the foreseeable future.
Persons: Ken Griffin, Donald Trump, Griffin, Trump, he's, We're Organizations: Citadel Advisors, Economic, of New, Citadel, Citadel Securities Locations: of New York, New York, America, Washington
CVNA, LMND, and UPST growth partially from short-sellers betting on their failure, says Jim Cramer'Mad Money' host Jim Cramer looks at how short-selling is moving the markets.
Persons: Jim Cramer
Here’s five things to know for Week 12:Your Super Bowl favorite: the Detroit LionsFor the first time ever, the Detroit Lions are the favorites to win the Super Bowl. The games are obviously very hard always and tough to win and just rewind a week ago at Houston, how hard that win was. Head coach Kyle Shanahan was asked if there is anything to the Super Bowl hangover and said: “I don’t think there is an answer about a journey or Super Bowl hangover. The 49ers suffered their fifth loss of the season in Week 11 at the hands of Geno Smith (right) and the Seattle Seahawks. Steelers QB Russell Wilson has previously won a Super Bowl during his time with the Seahawks and lost in another.
Persons: oddsmakers, Jared Goff, Goff, , , we’ve, It’s, David Reginek, Geno Smith scampered, Kyle Shanahan, Geno Smith, David Gonzales, Patrick Mahomes, Mahomes, ” Mahomes, won’t, Isiah Pacheco, – they’ve, Bryce Young, Chris Boswell, Russell Wilson, ” Wilson, it’s, I’ve, Harbaugh, John, Jim Harbaugh, Jim, Organizations: CNN, Fantasy, NFL, Atlanta Falcons, Buffalo Bills, Cincinnati Bengals, Jacksonville Jaguars, New, New Orleans Saints, New York Jets, Detroit Lions, Lions, Kansas City Chiefs, NFC, Houston Texans, Indianapolis Colts, Sunday, Jaguars, Reuters, San Francisco 49ers, Seattle Seahawks, Niners, 49ers, Green Bay Packers, Bills, USA, Reuters Chiefs, Chiefs, Kansas, Carolina Panthers, Panthers, Steelers, Bengals, Baltimore Ravens, Pittsburgh Steelers, Ravens, Baltimore, Browns, Football, Pittsburgh, Seahawks, Seattle, Jim’s Niners, Chargers, AFC, Cleveland Browns, Minnesota Vikings, Chicago Bears, Tennessee Titans, . Houston Texans –, New England Patriots, . Miami Dolphins –, Tampa Bay Buccaneers, . New York Giants, Dallas Cowboys, . Washington, Denver Broncos, Las Vegas Raiders, Arizona Cardinals, Seattle Seahawks –, Philadelphia Eagles, Los Angeles Rams, Los Angeles Chargers Locations: New Orleans, Detroit, Houston, Wisconsin, Buffalo, Kansas City, Carolina, Cleveland, Pittsburgh
“And many, many of them are castles,” he added of the facades of around 200 love hotels captured in his new photography series. The kind of distinctive architecture Prost documented, however, emerged in the 1960s and 1970s, as the establishments became more upmarket. Considered one of the first modern love hotels, Osaka's Hotel Love opened in 1968. Francois ProstOne of the most famous 1970s love hotels, the Meguro Emperor, was designed to resemble a European castle. A neon-lit love hotel in the city of Numazu.
Persons: François Prost, , Prost, Francois Prost, they’re, Francois Prost Prost, Francois Prost One, ” Prost, Kiss, Francois Prost The, Mark D, West, Francois Prost He’s, Organizations: CNN, Everyday, Locations: France, Chiba, , Honshu, Shikoku, Tokyo, Hamamatsu, Okayama, Japan, Okayama —, Himeji, Everyday Japan, South Korea, Thailand, Shibuya, United States, Numazu, Spain, Ivory Coast
Professor Yoshua Bengio, at the One Young World Summit in Montreal, Canada, on Friday, Sept. 20, 2024Famed computer scientist Yoshua Bengio — an artificial intelligence pioneer — has warned of the nascent technology's potential negative effects on society and called for more research to mitigate its risks. Machines could soon have most of the cognitive abilities of humans, he said — artificial general intelligence (AGI) is a type of AI technology that aims to equal or better human intellect. Yoshua Bengio Head of the Montreal Institute for Learning AlgorithmsSuch outcomes are possible within decades, he said. There are arguments to suggest that the way AI machines are currently being trained "would lead to systems that turn against humans," Bengio said. Yoshua Bengio Head of the Montreal Institute for Learning AlgorithmsCompanies developing AI must also be liable for their actions, according to the computer scientist.
Persons: Yoshua Bengio, , Bengio, CNBC's Tania Bryer, That's, we're, OpenAIhas, It’s, Yoshua, — that's, OpenAI Organizations: Young, Summit, University of Montreal, Montreal Institute, Machines, Intelligence, CNBC, Learning Locations: Montreal, Canada, AGI, U.S, Rwanda, Swiss
The Columbus march was Hate Club’s first official event and appears to have been part of a turf war with the White nationalist supremacist Blood Tribe, Segal said. We will continue to strive to make Columbus a city where all residents feel welcome and safe.”‘Hate doesn’t get to have the last word’Some Columbus community leaders marched Sunday in unity against the prior day’s neo-Nazi demonstration. Derrick Holmes, senior pastor at Union Grove Baptist Church, told CNN affiliate WSYX of the White nationalist event. Columbus will always stand with those they seek to intimidate.”The presence of White supremacist groups in Ohio is not new. “This White supremacist activity never went away,” he said.
Persons: , WBNS that’s, White supremacists, Oren Segal, Club’s, Segal, ” Segal, , Elaine R, Bryant, Derrick Holmes, doesn’t, Shannon Hardin, Donald Trump, White, Trump, “ I’m, ” Hardin, Vance, Courtney Hergesheimer, Joe, Biden, Andrew Bates, ” ‘, CNN’s Jim Acosta, Justin Kirschner, Kirschner, , Nana Watson, Zach Klein, CNN’s Brianna Keilar, ” Klein, they’re, Hanna Organizations: CNN —, Hate, Defamation League, CNN, Nazi Party, Columbus police, Defamation League Center, White, Columbus Police, Union, Union Grove Baptist Church, Columbus City, Ku Klux Klan, University of Dayton, Trump, Columbus Dispatch, USA, , American Jewish, Hamas, Islamic Relations, NAACP Columbus, Columbus Locations: Columbus , Ohio, United States, Nashville , New Hampshire, Boston , Virginia, Michigan, Washington, Columbus, Ohio, Union Grove, Charlottesville , Virginia, Cincinnati, Israel
On Wednesday, DOJ officials in the antitrust division filed their proposal for remedies in the case. The DOJ wants Judge Mehta to force Google to sell its Chrome browser. Officials from the Department of Justice, in a Wednesday filing, urged District Judge Amit Mehta to force Google to sell its Chrome browser. AdvertisementMehta will consider the DOJ's proposal before he makes a final ruling regarding remedies in this case. "But if Google is able to control the company that buys Chrome, the impact of selling the business would be minimal.
Persons: Amit Mehta, Judge Mehta, Mehta, Lee, Anne Mulholland, Eric Chaffee, it's, Peter Cohan, Neil Chilson, Chilson, Joe Biden's, Donald Trump, Trump, Biden, Cohan, Chafee Organizations: Google, DOJ, Department of Justice, Apple, Business, Bloomberg, Case Western Reserve University, Babson College, FTC, Chrome, Case
CNN —A coffee shop in Middleborough, Massachusetts, went viral overnight for offering free coffee to customers who entered the shop while dancing. Owner Josh Rashid told CNN that business picked up after the video was posted, attracting curious new customers while delighting cafe regulars. The sign posted outside of Coffee Milano Cafe informing customers of the promotion. Coffee Milano CafeInspired by a similar promotion by a pizza shop, Rashid posted a sign telling customers they would receive a free coffee if they danced for five seconds. “You’ve got to have some joy in this world, and if a little five second dance brings you joy, then it’s worth the free coffee.”
Persons: Josh Rashid, , ’ ”, Rashid, , Kristyn Shay, “ It’s, ” Rashid, ” Shay, it’s, “ You’ve Organizations: CNN, Coffee Milano Cafe, SCORE Locations: Middleborough , Massachusetts, Middleborough, Coffee
(Photo by Nicolas Economou/NurPhoto via Getty Images) Nicolas Economou | Nurphoto | Getty Images'That is a huge, huge gap'There is a growing disillusionment taking hold. Men are steadily dropping out of the workforce, especially those between the ages 25 to 54, which are considered their prime working years. A study by the Pew Research Center found that men who are not college-educated leave the workforce at higher rates than men who are. In 1995, both young men and women equally were likely to hold a bachelor's degree, at 25%. "That is a huge, huge gap," Pollak said.
Persons: Donald Trump, Kamala Harris, Nicolas Economou, Pollak, " Pollak, Brett House, , Richard Fry, Fry, NEFE, Billy Hensley, Hensley, Ali Bustamante Organizations: Republican, Democratic, Getty, Nurphoto, Pew Research Center, Pew, Columbia Business School, CNBC, NEFE, Trump, Financial Wellness, Young, Roosevelt Institute Locations: Washington ,, U.S
Initially enthusiastic about the prospect of humans living on Mars, the authors said their research turned them into space settlement skeptics. In "A City on Mars," authors Kelly and Zach Weinersmith argue substantially more research is needed before humans can safely populate Mars. Particular BooksCNN: Can humans settle Mars in the near term? KW: Musk is saying that in the next 30 years, we’re going to have a million people on Mars. It’s about 40% gravity and we know that humans in microgravity have all sorts of major problems, and what happens at 40% we just don’t know.
Persons: Elon, Kelly, Zach Weinersmith, , Kelly Weinersmith, it’s, we’ll, you’ve, You’re Organizations: CNN, Society Trivedi, Rice University, NASA, JPL, Caltech, facie, Earth, United Nations Locations: , Houston, Mars, United States, China
CNBC Daily Open: Is Nvidia its own worst enemy?
  + stars: | 2024-11-21 | by ( Yeo Boon Ping | ) www.cnbc.com   time to read: +2 min
Akio Kon | Bloomberg | Getty ImagesThis 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. Investors are likely zooming in on the rate at which Nvidia is growing its numbers, compared with its past performance, not just whether it's surpassing expectations. The same goes for Nvidia's forward guidance: A growth of around 70% for current-quarter sales, compared with a year earlier. It appears that investors have enjoyed Nvidia's astounding performance for so long they've become desensitized to it.
Persons: Jensen Huang, Akio Kon, LSEG, University's, Leswing, Samantha Subin, Brian Evans Organizations: Nvidia Corp, Nvidia, Summit Japan, Bloomberg, Getty, CNBC, Investors, University's Stern School of Business Locations: Tokyo, Japan, New
While the S & P 500 and Nasdaq 100 have both pushed to new all-time highs in November, market breadth indicators have mostly not confirmed those recent highs. Market breadth indicators like these are equal-weighted, meaning they simply count the number of stocks fulfilling a certain requirement. The change in that indicator over the last six weeks tells us that about 20% of the S & P 500 members have registered a sell signal on their point & figure charts! This chart shows the percent of stocks above their 200-day moving average, as well as the percent of stocks above their 50-day moving average as we quoted above. The S & P 500 continues to make higher lows, but a push below 5,850 would break that pattern which has been in place since August.
Persons: David Keller Organizations: Nasdaq, CMT, CNBC, NBC UNIVERSAL
AdvertisementTriller hired former TikTok product head Sean Kim to run its video app and a few other subsidiaries. Former T-Mobile marketing exec Kevin McGurn will no longer join as CEO of all of Triller Group. Triller, a media and marketing company that once positioned itself as a competitor to TikTok, announced it's hiring former TikTok product head Sean Kim to serve as CEO of its video app. Starting on December 2, he will oversee the Triller app, a short-video platform that functions similarly to TikTok, Instagram reels, and YouTube shorts. The Triller Group CEO title was meant to go to former T-Mobile marketing executive Kevin McGurn, as announced by the company in October.
Persons: Triller, Sean Kim, Kevin McGurn, TikTok, Kim, Julius, McGurn, it's, Donald Trump Organizations: Mobile, Triller, Holding, Triller Group, AGBA, Sony Music, Universal Music Group, SEC, Congress, YouTube Locations: Hong Kong, Triller
The man accused of murdering four University of Idaho students two years ago may be punished with the death penalty if he is convicted, the trial judge has ruled. Idaho's alternative to the death penalty for a first-degree murder conviction is life in prison with at least 10 years served before becoming eligible for parole. Prosecutors had said in court filings that four aggravating factors exist in the case against Kohberger, who turns 30 on Thursday, making the crime more severe and meriting the death penalty. From top left, Kaylee Goncalves, Madison Mogen, Ethan Chapin and Xana Kernodle. A motive remains unclear for the killings of housemates Madison Mogen, 21, Kaylee Goncalves, 21, and Xana Kernodle, 20, and Kernodle's boyfriend, Ethan Chapin, 20, in November 2022.
Persons: Bryan Kohberger's, Steven Hippler, Hippler, Defendant, Prosecutors, Kohberger, Jeff Nye, Nye, Kaylee Goncalves, Madison Mogen, Ethan Chapin, Xana, Hipple, Thomas Creech, , Anne Taylor, Taylor, Xana Kernodle, Steve Goncalves, Kaylee Organizations: University of Idaho, Washington State University, NBC News Locations: Boise , Idaho, Idaho, Xana Kernodle . Idaho, Pullman, Washington, Boise, Latah County
Gautam Adani, India’s second-richest person, has been charged by U.S. federal prosecutors with fraud on accusations that he and several alleged co-conspirators sought to pay $250 million in alleged bribes to Indian officials. The defendants then “lied about the bribery scheme as they sought to raise capital from U.S. and international investors.”The scheme, according to prosecutors, occurred between 2020 and 2024. Gautam Adani, worth approximately $70 billion according to Forbes, heads the Adani Group, an industrial conglomerate that holds stakes in logistics and energy units. The findings from the short-seller, Hindenburg Research, caused Adani Group shares to tumble — but they ended up recovering following a favorable ruling related to the allegations by India’s Supreme Court. Adani has also received direct support from Indian Prime Minister Narendra Modi, something India’s opposition party has highlighted.
Persons: Gautam Adani, India’s, Attorney Breon Peace, , Adani’s, Sagar, Forbes, Adani, Narendra Modi, ” Hindenburg, Organizations: Attorney’s, , Attorney, Securities, Exchange Commission, Group, Adani, SEC, Green Energy Ltd, Hindenburg, Adani Group, India’s, Indian Locations: U.S, Brooklyn, United States
Mike DeWine, Columbus Mayor Andrew Ginther and other city leaders condemned the neo-Nazis in statements and on social media. But Black locals like Holmes wanted to do more and send a message of solidarity, they said. A group of Black leaders and locals marched through Columbus, Ohio, in a “unity” rally. Dozens of men walked, many side by side, down North High Street, many dressed in all black. He said the atmosphere among Black Columbus residents was one of fear and anxiety, with many wondering if they were safe in the city.
Persons: Derrick Holmes, ” Holmes, Joe Biden, Andrew Bates, Nazism, Mike DeWine, Columbus Mayor Andrew Ginther, Holmes, Black, Sean Walton Jr, Brian Winston, Walton, ” Winston, , ” Walton, , Elaine R, Bryant, Winston, Donald Trump’s, Anne Frank ”, Trump, Christian supremacists, Trump’s, Karoline Leavitt, Oren Segal, Jon Lewis, George, ” Lewis Organizations: Columbus ’ Union, Columbus ’ Union Grove Baptist Church, North, North Arts District, , ” Ohio Gov, Columbus Mayor, of, Black Columbus, Columbus, Columbus Division of Police, Police, Washington Post, Nazi, Defamation League Center, Extremism, New York Times, Hate, George Washington University’s Program Locations: Columbus , Ohio, Columbus, Columbus ’ Union Grove, United States, ” Ohio, of Central Ohio, Houston, Black, Michigan, Ohio, Springfield, Charlottesville , Virginia, Louis,
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