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News that U.S. President-elect Donald Trump's plans to hike tariffs on imports from China, Canada and Mexico sent ripples across global markets Tuesday. Asian markets traded broadly lower , but Chinese stocks held up surprisingly well. Peter Boockvar, chief investment officer at the U.S.-headquartered Bleakley Financial Group, said China is better prepared to cope with tariffs than in 2016. Referencing the impact of the tariffs imposed by the Trump administration in 2016, Boockvar said it was "negative, not a benefit" in aggregate. 'A lot of value' Beyond the U.S., Boockvar said Asian markets including China, Japan, Singapore and Vietnam were offering "a lot of value."
Persons: Donald Trump's, Peter Boockvar, It's, CNBC's, Trump, Boockvar, Russell, Stocks, EQT Organizations: Bleakley Financial, Nvidia, Microsoft, Vegas Sands Corp, Melco Resorts & Entertainment, AIA, Hong Kong Stock Exchange Locations: China, Canada, Mexico, U.S, Japan, Singapore, Vietnam, Bay Sands, Asia, Europe
The S & P 500 will be propelled to new heights in the new year thanks to momentum in artificial intelligence, a resilient economy and the possibility of easier regulation on industries, according to JPMorgan. The labor market has also held up, with more than 100,000 jobs being added in all but one month this year. The S & P 500 is up 4.1% since the Nov. 5 vote. UBS said this week it sees the S & P 500 rising to 6,400 , while Goldman Sachs and Morgan Stanley expect an expansion to 6,500. His 4,200, the lowest in the CNBC Pro Market Strategist Survey , implies 30% downside from Tuesday's close.
Persons: Dubravko Lakos, Bujas, Donald Trump's, Toll, Goldman Sachs, Morgan Stanley Organizations: Nvidia, Federal Reserve, Microsoft, Exxon Mobil, Tesla, Toll Brothers, Citigroup, UBS, Deutsche Bank, CNBC Pro Market, Survey Locations: Tuesday's, U.S
AdvertisementThe rate of AI model improvement appears to be slowing, but some tech leaders say there is no wall. A fierce debate over whether improvements in AI models have hit their limit has taken hold in recent weeks, forcing several CEOs to respond. Others, including Marc Andreessen, say AI models aren't getting noticeably better and are all converging to perform at roughly similar levels. AdvertisementOne solution that companies are exploring is synthetic data, an artificial form of data generated by AI. Aymeric Zhuo, cofounder and CEO of AI startup Agemo, said that AI reasoning "has been an active area of research," particularly as "the industry faces a data wall."
Persons: Sam Altman, Fabrice Beaulieu Dario Amodei, Anthropic, Jensen Huang, Marc Andreessen, Henri Tilloy, Jensen, Justin Sullivan, Matthew Zeiler, Eric Landau, Landau, Sharon Zhou, Zhou, Daniele Panfilo, Bard, it's, Thomas Wolf, Jonathan Frankle, Ilya Sutskever, Satya Nadella, Aymeric Zhuo, Sivesh Sukumar, OpenAI, Noam Brown, It's, Adam Selipsky, Dario Amodei, Noah Berger, Anthropic's, they've, Microsoft's Copilot Organizations: Nvidia, Business, Google, French VC, Companies, Vox Media, OpenAI, Reuters, TED, Gemini, Web, Getty Companies, Investors Locations: Santa Clara
The FTC, in a letter sent to Microsoft, demanded that it hand over information to assist in the agency’s investigation, a source familiar with the matter told CNN. The FTC and Microsoft declined to comment. Microsoft also battled FTC resistance to its $69 billion acquisition of video game publisher Activision Blizzard, which closed in October 2023. The agency had argued the merger would give Microsoft a monopoly in video game publishing, which the company denied. Trump’s reelection has raised questions about how his administration will handle ongoing antitrust cases against tech giants, including Apple and Amazon.
Persons: Microsoft’s, Donald Trump, Trump, Lina Khan, Khan, hasn’t Organizations: New, New York CNN, Microsoft, Federal Trade Commission, FTC, CNN, Bloomberg, Activision Blizzard, Apple, Google, Justice Department Locations: New York, OpenAI
Generative artificial intelligence has taken Silicon Valley by storm since the launch of OpenAI's ChatGPT chatbot in November 2022. There was a lot of optimism over the potential of GenAI gadgets at the CES trade show in January, said Paul Gagnon, vice president for analyst firm Circana. Additionally, consumers may find current GenAI devices too expensive, and they may be confused about what the devices can actually do, he said. The reality is that while GenAI has captivated Silicon Valley, it's still "inning zero" in regard to widespread adoption, Bajarin said. Despite Silicon Valley not having a breakout year for GenAI hardware, here are a few GenAI devices early adopters can buy.
Persons: chatbot, Paul Gagnon, Gagnon, we've, — there's, hasn't, Ben Bajarin, Ray, Bajarin, Ryan Reith, Reith, GenAI, Steve Koenig Organizations: Nvidia, CES, Creative, Microsoft, Apple, Intel, Dell, Lenovo, IDC, Consumer Technology Association Locations: Silicon
AdvertisementAissatou Guisse, who moved to the US as a child, sends $250 to relatives in Senegal each month. After I had a child of my own, I decided to set boundaries around how much money I send to relatives back home. I have several friends in the US from Senegal who send money home monthly. I know people in other cultures send money back home, but Senegalese culture is particularly focused on not getting other people's hopes down. I still send the monthly money to my grandma's household, but for other things, I do a critical case-by-case analysis of whether the payment is necessary.
Persons: she's, Guisse, Aissatou Guisse, we'd, I've, someone's, Roth, peeked, it's Organizations: Microsoft, Roth IRA Locations: Senegal, Atlanta, America, Ohio, Sengalese neighhorhoods
AdvertisementInternal AWS documents obtained by BI lay out the cloud giant's growth priorities next year. Amazon Web Services recently laid out new growth initiatives that include a focus on healthcare, business applications, generative AI, and the Middle East region, according to internal documents obtained by Business Insider. These are part of the AWS sales team's priorities for next year and Amazon refers to them internally as "AGIs," short for "AWS growth initiatives," one of the internal documents shows. That was slower than Microsoft's and Google's cloud business, on a percentage basis. Generative AI Innovation CenterLast year, AWS launched a $100 million program called Generative AI Innovation Center, which connects customers with AWS's AI scientists and experts to help launch generative AI solutions.
Persons: Greg Pearson, AWS's, Patrick Neighorn, Matt Garman Frederic J . BROWN Organizations: BI, Microsoft, Google, Amazon Web Services, Business, AWS, Synergy Research, Amazon, Services, Getty, Data Centers, Forbes, Adobe, Gulf Cooperation Council, Center, Accenture, Tata Consultancy Locations: East, AFP, Saudi Arabia, Bahrain, UAE, Israel, Kuwait, Oman, Qatar
FTC reportedly launches antitrust investigation into Microsoft
  + stars: | 2024-11-27 | 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 EmailFTC reportedly launches antitrust investigation into MicrosoftCNBC's Julia Boorstin joins 'Closing Bell Overtime' with a report from Bloomberg that the FTC is launching an antitrust investigation into Microsoft.
Persons: Julia Boorstin Organizations: FTC, Microsoft, Bloomberg
Microsoft faces wide-ranging U.S. antitrust probe
  + stars: | 2024-11-27 | by ( ) www.cnbc.com   time to read: +3 min
The U.S. Federal Trade Commission has opened a broad antitrust investigation into Microsoft , including of its software licensing and cloud computing businesses, a source familiar with the matter said on Wednesday. The probe was approved by FTC Chair Lina Khan ahead of her likely departure in January. The FTC fielded complaints about Microsoft last year as it examined the cloud computing market. Until now, Microsoft has been somewhat of an exception to U.S. antitrust regulators' recent campaign against allegedly anticompetitive practices at Big Tech companies. In 2019, the Pentagon awarded it a $10 billion cloud computing contract that Amazon had widely been expected to win.
Persons: Lina Khan, Donald Trump, Satya Nadella, Trump, JD Vance Organizations: U.S . Federal Trade Commission, Microsoft, Republican, FTC, Amazon, Google, Bloomberg, Big Tech, Facebook, Meta, Apple, Amazon.com Inc, U.S, Trump, Pentagon, Web Services
3-Stock Lunch: Microsoft, Peloton & Disney
  + stars: | 2024-11-27 | 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 Email3-Stock Lunch: Microsoft, Peloton & DisneyGina Sanchez, Chantico Global CEO, joins 'Power Lunch' to discuss stock plays for three stocks.
Persons: Gina Sanchez Organizations: Microsoft, Chantico Global
I combed through discounts to find the best early Walmart Black Friday deals actually worth shopping. SKIP AHEAD Best Walmart early Black Friday deals | More Walmart early Black Friday sales | Why trust NBC Select? Best Walmart Early Black Friday dealsI found, vetted and wrote about every deal I recommend below. Best Walmart early Black Friday salesHere are the best Walmart early Black Friday sales to know about. To find the best early Walmart Black Friday deals, I searched through discounts to roundup products from previous coverage, NBC Select staff favorites, and highly-rated products from brands that we know and trust.
Persons: I’ve, Harry Rabinowitz —, Lindsay Schneider, Apple Airtag, Harry Rabinowitz, Carote, TikTok Organizations: Walmart, Black, 6AM, Walmart Plus, NBC, Walmart Apple, Fujifilm, Samsung, Amazon Alexa, Root, Apple ., Apple, Microsoft, Google, Walmart NBC, Facebook, Twitter
Other companies that withdrew or toned down their DEI initiatives include Lowe's and Ford. Tech companies such as Microsoft, Meta, and Zoom cut DEI programs this year, Business Insider reported in July, and law firms, including Winston & Strawn, faced lawsuits for affirmative action. The Human Rights Campaign slammed companies' DEI rollbacks in an August statement to BI. Advertisement"Decisions to cut DEI initiatives send a clear signal to employees that their employers simply don't care about equality in the workplace. Here are how some companies have cut their DEI programs.
Persons: Robby Starbuck, Jill Kramer, Strawn, Starbuck, Eric Bloem Organizations: Walmart, Ford, Accenture, Tech, Microsoft, Meta, Business, Winston, Washington Post, Rights
Business Insider asked its Workforce Innovation board to participate in a roundtable to discuss how DEI programs are evolving. AdvertisementSkills-based hiring is one way companies are working to identify diverse candidates organically. The critical piece for companies is to figure out the best way to capture an accurate and comprehensive view of employees' skills. The global company has a centralized corporate DEI team, with DEI councils at the individual industry units. Using AI to scrutinize hiring, while retaining the human touchAdya said Infosys is using AI to analyze patterns in its hiring data.
Persons: John Deere, Maggie Hulce, Spring Lacy, We've, Anant Adya, Infosys Lucrecia Borgonovo, Chris Deri, Weber, Lacy, Lucrecia Borgonova, Mastercard's, Borgonovo, Lucrecia Borgonovo, Hulce, It's, realigning, Adya, Deri Organizations: Microsoft, Molson Coors, Walmart, for Racial Equity, Business, Ferring Pharmaceuticals, Verizon, Infosys, Prudential, Mastercard, DEI
BBY YTD mountain Best Buy YTD These were not the results we wanted from Best Buy, but they are the numbers we had expected. Best Buy stock below $80 would push the dividend yield up to just under 5% — a nice payout for our patience. We still believe in the stock because Best Buy should benefit once mortgages drop and housing turnover picks up. Best Buy Why we own : We believe Best Buy will prove to be a go-to destination for consumers looking to upgrade hardware, much of which was purchased during Covid, to new AI-powered devices. In the Best Buy app, the company also launched the "Best Buy Gift Finder," an AI-powered gifting guide to help consumers find new products.
Persons: Jim Cramer, it's, Donald Trump, Jim, Corie Barry, Barry, Matthew Bilunas, Jim Cramer's, David Paul Morris Organizations: Revenue, LSEG, Target, Walmart, Amazon, Costco, Enterprise, Black, Microsoft, Meta, Management, CNBC, Bloomberg, Getty Locations: Tuesday's, Union City , California
Agility Robotics is hoping to deploy them across industries like grocery, automotive, and pharma. AdvertisementDigit is Agility Robotics' mobile manipulation humanoid robot. It competes with the likes of Apptronik, which is working with NASA on humanoid robots, and Boston Dynamics, which has created humanoid robots called Atlas that it says can run and jump over obstacles, as well as perform factory-worker tasks. Agility Robotics' humanoid robots are permitted to work only inside a specific, cordoned-off space separate from human workers. Agility Robotics takes a similarly cautious approach to its application of artificial intelligence, which is deep in the hype stage.
Persons: Peggy Johnson, it'd, Johnson, GXO, Ford, , ChatGPT, doesn't Organizations: Robotics, pharma, Silicon, Agility Robotics, Deloitte, Bureau of Labor Statistics, Digit, GXO Logistics, Mobile, Ford Amazon, Agility, NASA, Boston Dynamics, Gallup, Microsoft, Qualcomm Locations: Lisbon
This outperformance outside of the biggest stocks in the market sets up the "average stock" for success heading into year-end, according to Roth MKM's JC O'Hara. RSP 5D mountain RSP 5-day chart "This shows breadth is expanding. "We found similar price action within the Nasdaq 100 and the equal weighted version last week. The QQQ's gained 1.9% [last week] while the equal weighted version of the ETF, QQQE, surged 3.5% and came within pennies of a new closing high," O'Hara said. The resurgence of the so-called average stock follows Donald Trump securing a second term as president.
Persons: it's, Russell, Roth MKM's JC O'Hara, O'Hara, Donald Trump, Trump, Hess Organizations: Nvidia, Microsoft, RSP, Nasdaq, QQQE, Investors, Citi, Chevron, Exxon Mobil Locations: Mexico, Canada, Namibia
CNBC's Jim Cramer told investors not to write off Big Tech megacap stocks, some of which were able to jump on Tuesday after recent declines. Cramer reviewed the action in stocks including Apple , Amazon , Nvidia , Microsoft and Meta . According to Cramer, Apple and Amazon are reaping the rewards of two positive analyst notes, with Bank of America praising the latter's e-commerce and online advertising businesses. Cramer was less certain about the reasons for Tuesday's wins in Meta and Microsoft. "Here's the bottom line: don't begrudge the megacaps," Cramer said.
Persons: CNBC's Jim Cramer, Cramer, Morgan Stanley, Tim Cook's, Donald Trump Organizations: Big Tech, Apple, Nvidia, Microsoft, Meta, Bank of America, President Locations: China
The October personal consumption expenditures price index report has many investors wondering how it may impact the postelection market rally. "It definitely threatens the dynamic of the market broadening because it jeopardizes the speed at which the Fed drops interest rates," Lee told CNBC. "Right now, the markets are pricing out interest rates one by one. Bill Baruch, president of Blue Line Futures, sees opportunities in the currency and bond markets if core PCE rate reaches 3%. "This PCE report and the expectation for a December cut are going to create quite a bit of volatility in fixed income," Ethridge told CNBC.
Persons: Dow Jones, William Lee, Lee, Jimmy Lee, Victoria Greene, Greene, Bill Baruch, Baruch, Malcolm Ethridge, Ethridge, Goldman Sachs, Russell Organizations: Core PCE, Milken Institute, CNBC, Traders, Wealth Consulting, Nvidia, Meta, Microsoft, Wealth, Blue, Capital Area Planning, U.S . Bancorp Locations: financials
People walk into a Best Buy store in a Brooklyn mall on August 29, 2023 in New York City. Best Buy on Tuesday cut its full-year sales forecast as it missed Wall Street's quarterly revenue expectations and a fresh batch of iPhones and AI-enabled laptops weren't enough to drive higher sales. It expects full-year comparable sales to decline by between 2.5% and 3.5%, compared to its prior expectations of a 1.5% to 3% drop. Comparable sales includes sales online and at stores open for at least 14 months. Shares of Best Buy were down about 3% in premarket trading Tuesday.
Persons: Corie Barry, Barry, Matt Bilunas Organizations: LSEG, Microsoft Locations: Brooklyn, New York City, U.S
OpenAI is allowing employees to sell roughly $1.5 billion worth of shares in a new tender offer to SoftBank, CNBC has learned. Employees will have until Dec. 24 to decide if they want to participate in the new tender offer, which has not previously been reported, one of the people said. The tender offer is not related to OpenAI's potential plans to restructure the firm to a for-profit business, one of the people said. The OpenAI investment matches SoftBank's eagerness to deploy cash, with a capital-intensive business model, a person close to Son told CNBC. The company also received a $4 billion revolving line of credit, bringing its total liquidity to more than $10 billion.
Persons: Masayoshi Son, OpenAI, SoftBank, Son Organizations: CNBC, Employees, Apple, Qualcomm, SoftBank's, Microsoft, Nvidia
Joan Cros | Nurphoto via Getty ImagesFrench telecoms giant Orange on Tuesday said it's partnering with Microsoft -backed OpenAI and Facebook-owner Meta to build custom artificial intelligence models designed to better understand regional African languages. Orange said it's working with OpenAI and Meta to develop custom AI models built on their respective Whisper and Llama open-source AI models — openly available systems that can be adapted to meet specific needs — that can understand West African languages not understood by most conversational systems. The open-source AI models will be provided externally by Orange with a free license for non-commercial uses including public health and education, the company said. Orange plans to expand its custom AI model initiative to eventually cover all 18 West African countries. In addition to using AI systems to improve customer service, Orange is also using the tech to improve a core part of its business: mobile networks.
Persons: MSFT ORA, Joan Cros, it's, Meta, Orange, Steve Jarrett, Orange's, Jarrett, Claude aren't Organizations: Mobile, Nurphoto, Getty Images, Microsoft, Facebook, Meta, CNBC, West Locations: Barcelona, Spain, Orange, United States, Europe, East, Africa, Senegal, Gambia, Mauritania, West
AdvertisementAgility Robotics CEO Peggy Johnson says humanoid robots are filling some labor gaps. AdvertisementDigit is Agility Robotics' mobile manipulation humanoid robot. It competes with the likes of Apptronik, which is working with NASA on humanoid robots, and Boston Dynamics, which has created humanoid robots called Atlas that it says can run and jump over obstacles, as well as perform factory worker tasks. Agility Robotics' humanoid robots are currently only permitted to work inside a specific, cordoned-off space separate from human workers. Agility Robotics takes a similarly cautious approach to its application of artificial intelligence, which is deep in the hype stage.
Persons: Peggy Johnson, it'll, Johnson, GXO, Ford, , Optimus, ChatGPT, doesn't Organizations: Robotics, pharma, Silicon, Agility Robotics, Business, Deloitte, Bureau of Labor Statistics, Digit, GXO Logistics, Mobile, Ford Amazon, Agility, NASA, Boston Dynamics, Gallup, Microsoft, Qualcomm Locations: Lisbon, Portugal
AdvertisementZoom Video Communications Inc. is dropping video from its name in an AI-first rebranding effort. The company, best known for its videoconferencing, will now be known as "Zoom Communications Inc."Zoom isn't the only company revisiting its trajectory in the AI boom. Zoom — the company best known for bringing the world the videoconferencing software that got corporate workers through the coronavirus pandemic — wants to be known for its status as an AI-first company, CEO Eric Yuan wrote in a company blog post published Monday announcing a major rebrand. From this day forward, the company formerly called "Zoom Video Communications Inc." will be known simply as "Zoom Communications Inc." the post reads, as the company focuses on an AI-first approach to corporate communications. "Woven throughout Zoom Workplace, AI Companion frees us up to focus on more important work and minimizes time wasted on less meaningful tasks," the company announced.
Persons: Eric Yuan, Morgan Stanley, OpenAI, Sundar Pichai, Pichai, Marc Benioff, Gartner, Copilot Organizations: Communications, Communications Inc, Major Big Tech, Google, Microsoft, Securities, Exchange, OpenAI, SEC, Business Locations: Amazon, OpenAI
If you're a Microsoft 365 user, this Monday may have been a little more frustrating for you than usual. The product family of software announced early Monday morning that it is investigating an issue impacting Exchange Online and Microsoft Teams users. Microsoft 365 applications, including Outlook and Teams, are heavily relied on by many places of work around the world. In an afternoon update, Microsoft 365 said it is “facing delays” in its effort to address the issues. I am still unable to get access to Outlook," one commenter wrote in the Microsoft 365 comment section.
Persons: commenter Organizations: Microsoft, Outlook Locations: Michigan
Rumble , a video platform aimed at conservatives, said Monday evening that it will begin allocating a portion of its excess cash reserves to bitcoin and making purchases of up to $20 million in the cryptocurrency. "We believe that the world is still in the early stages of the adoption of bitcoin," Rumble chairman and CEO Chris Pavlovski said in a statement Monday. The move puts Rumble in the same company as MicroStrategy, which began employing an aggressive bitcoin-buying strategy in 2020. Rumble is viewed as a play linked to Donald Trump's return to the White House given its popularity among conservatives. MicroStrategy chairman and bitcoin evangelist Michael Saylor said last week on an X Spaces event that he plans to pitch the board of Microsoft in December on his bitcoin treasury strategy.
Persons: Chris Pavlovski, MicroStrategy's, Donald Trump's, Cantor Fitzgerald, Howard Lutnick, Trump, Lutnick, Bitcoin, Michael Saylor, Sen, Cynthia Lummis Organizations: Semler, Acurx Pharmaceuticals, YouTube, . Commerce, Microsoft Locations: Wyoming
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