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☆ India central bank plans 2025 launch of cloud services, countering dominance of global firms
▼ + stars: | 2024-11-19 | by ( ) www.cnbc.com time to read: +2 min

India's central bank will launch a pilot program in 2025 offering local cloud data storage to financial firms at affordable prices, according to two sources aware of the matter, who declined to be identified as conversations are confidential. The Reserve Bank of India's planned cloud platform will use local IT firms, pitting it against the likes of Amazon Web Services, Microsoft Azure, Google Cloud and IBM Cloud, in a first-of-its-kind initiative from a major global central bank. In December last year, RBI governor Shaktikanta Das announced plans to set up a public cloud for the financial services industry. Initial work on the cloud is being driven by the research wing of the central bank called the Indian Financial Technology and Allied Services. It will then be developed further in partnership with one or more private sector technology firms, according to the sources.

Persons: Shaktikanta Das, EY Organizations: Bank, Reserve Bank of, Amazon Web Services, Microsoft, Google, IBM, International Data Corporation, Indian Financial Technology, Allied Services, Reuters

☆ Morgan Stanley sees S&P 500 climbing another 11% — to 6,500 — next year
▼ + stars: | 2024-11-18 | by ( Fred Imbert | ) www.cnbc.com time to read: +3 min

Strategist Michael Wilson sees the S & P 500 reaching 6,500 in 2025. The sector is already up 6.8% since the Nov. 5 election, outperforming the other 10 S & P 500 sectors. The benchmark 10-year Treasury note yield is up more than 80 basis points (0.8 percentage point) since the Fed began cutting rates. While Wilson's base case sees the S & P 500 rising to 6,500, his most optmistic bullish scenario takes the benchmark all the way to 7,400 — 26% above Friday's close. However, his initial 2024 S & P 500 target proved too conservative at 4,500.

Persons: Morgan Stanley, Michael Wilson, Wilson, Donald Trump, Baird Organizations: Fed Locations: Washington, Friday's

☆ The battle over Trump's Treasury secretary is adding to the market's problems
▼ + stars: | 2024-11-18 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

President-elect Donald Trump's flurry of announcements regarding Cabinet nominees has left investors with one unexpected headache: a suddenly cloudy picture of who will take the all-important position of Treasury secretary. One somewhat new name to emerge into the Treasury conversation is former Fed governor Kevin Warsh. However, the Wall Street Journal reported Sunday that Warsh also has emerged as potential Treasury contender. Yields took another leg higher on Monday amid the Treasury uncertainty. However, Fundstrat research chief Tom Lee said that once the Treasury nominee issue is settled, that should restore some market confidence.

Persons: Donald Trump's, Trump, Scott Bessent, Sen, Bill Haggerty, Howard Lutnick, Elon Musk, Powell, Stocks, Kevin Warsh, Jerome Powell, Warsh, Evercore, Tom Lee, Lee Organizations: Key Square Group, Federal Reserve, Treasury, Trump Trade, Trump, Wall Street

☆ Trump's Treasury Secretary: The best commentary about who the president-elect should nominate
▼ + stars: | 2024-11-18 | by ( Chris Johnston | ) www.businessinsider.com time to read: +6 min

After announcing a swathe of names for his Cabinet, president-elect Donald Trump appears to be conducting auditions for his Treasury Secretary. AdvertisementHere's some of the best commentary we've seen about the race to be the next Treasury Secretary. Blowups somewhere are inevitable, and a Treasury secretary needs the experience to deal with the fallout in a way that reassures markets. There could now be a contest for Treasury Secretary where … the no1 job is reassuring the markets. In return he might be rewarded with the job of treasury secretary.

Persons: Donald Trump, Scott Bessent, Howard Lutnick, Marc Rowan, Kevin Warsh, Cantor Fitzgerald, Trump, Rowan, Apollo, Jay Powell, Warsh, Powell, hasn't, Kyle Bass, Mike Allen, You've, Ian Bremmer, Marco Rubio, Mike Waltz, Biden, Mr Lutnick, Mr Trump, … Mr Lutnick, …, Mr Lutnick's, John Thune, Jeff Stein Organizations: Key Square Capital Management, Apollo Global Management, Federal Reserve, New York Times, The Times, Times, Hayman Capital Management, X, Trump's, Treasury, CNBC, Trump, Fed, White, National Economic Council, Eurasia Group, Bloomberg, The, The Washington Post Locations: X U.S, Eurasia, Washington, United States, The Washington

☆ The outlook for gold — as the granddaddy of gold ETFs turns 20
▼ + stars: | 2024-11-18 | by ( Bob Pisani | ) www.cnbc.com time to read: +8 min

The grandaddy of gold ETFs turns 20. Today, for the first time, thanks to the World Gold Council and State Street, you are able to buy gold just like it's a stock." They could own gold mining stocks, but there was an imperfect relationship between gold and gold miners. When the gold ETF was intrduced 20 years ago, there was a very small investor base for gold. In 2014, Van Eck launched the VanEck Merk Gold ETF (OUNZ), which provides the option to redeem shares for physical gold , including gold coins and bars.

Persons: I've, George Milling, Stanley, GLD, Van Eck, George Milling Stanley, We've Organizations: New York Stock Exchange, World Gold Council, State, Investors, U.S . Equity, State Street Global Advisors, United States Oil Fund, Street Global Advisors, Street Global, World Gold, U.S ., Trump, Trust, Street, MiniShares, NYSE, SEC, Edge Locations: United States, London, India, China, Turkey

☆ Dollar sitting pretty, yen bears wary of Bank of Japan hawks
▼ + stars: | 2024-11-18 | by ( ) www.cnbc.com time to read: +3 min

Yen bears were tense in case Bank of Japan Governor Kazuo Ueda used a speech later Monday to flag a possible rate hike in December, in part due to the weakness of the currency. Markets imply around a 55% chance of a quarter-point rate hike to 0.5% when the BOJ meets on Dec. 19. Against a basket of currencies the dollar held at 106.730, having touched a one-year top of 107.07 on Friday. The rally has coincided with a savage swing in 10-year Treasury yields, which have climbed 70 basis points since the start of October, fuelling a 5.4% rise in the U.S. dollar index . Analysts generally assume Trump's touted policies of tariffs, reduced immigration and debt-funded tax cuts will be inflationary, so limiting the scope for further rate cuts by the Federal Reserve.

Persons: Kazuo Ueda, Ueda, Donald Trump's, Katsunobu Kato, Jonas Goltermann, Trump, Howard Lutnick, Cantor Fitzgerald, Scott Bessent Organizations: Bank of Japan, U.S, Japanese Finance, Capital Economics, Trump, Federal Reserve, Central Bankers Locations: U.S, Japan, Canada

☆ BMO sets next year's S&P 500 target at 6,700, or a 14% gain from here
▼ + stars: | 2024-11-18 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Stocks still have significant gains in front of them heading into 2025, at least according to BMO Capital Markets. Although bull markets over the past 50 years have averaged about six years in length, the current bull market is just starting its third year but, unfortunately, the third year of past bull markets have been the weakest of the bunch, he cautioned. .SPX YTD mountain The S & P 500 is little changed on Monday, but has gained about 23% in 2024. Heading into 2024, the S & P 500 had advanced more than 24% in 2023. The latter envisions the S & P 500 ending 2025 at 5,500, or about a 6% decline from the index's current price, mostly as a result of inflation picking up steam.

Persons: Stocks, Brian Belski, Belski, Belksi Organizations: BMO Capital Markets, BMO, Federal Reserve, & $ Locations: Canadian

☆ Gold gains 1% as dollar rally stalls
▼ + stars: | 2024-11-18 | by ( ) www.cnbc.com time to read: +2 min

Gold prices rose on Monday after last week's sharp declines, as a rally in the dollar paused, while market participants awaited comments from Federal Reserve officials this week for more clues on the U.S. interest rate path. Gold prices rose on Monday after last week's sharp declines, as a rally in the dollar paused, while market participants awaited comments from Federal Reserve officials this week for more clues on the U.S. interest rate path. Spot gold firmed 1% to $2,587.49 per ounce by 0150 GMT, after falling to its worst week in more than three years on Friday. "Gold prices are due for a slight recovery following recent bout of hefty sell-offs and we may expect some drift higher with some rollover in the dollar," said IG market strategist Yeap Jun Rong. This has not been fully priced in by markets yet, so any need for recalibration may still pose an obstacle for gold."

Persons: Yeap Jun Rong, Joe Biden's Organizations: Federal Reserve, Fed, Strong U.S Locations: U.S, Ukraine, Russia

☆ Oil prices edge higher after Russia-Ukraine tensions escalate
▼ + stars: | 2024-11-18 | by ( ) www.cnbc.com time to read: +2 min

Crude oil storage tanks are seen from above at the Cushing oil hub, in Cushing, Oklahoma, March 24, 2016. Oil prices edged up on Monday after fighting between Russia and Ukraine intensified over the weekend, although concerns about fuel demand in China, the world's second-largest consumer, and forecasts of a global oil surplus weighed on markets. Russia unleashed its largest air strike on Ukraine in almost three months on Sunday, causing severe damage to Ukraine's power system. Investors also fretted over the pace and extent of interest rate cuts by the U.S. Federal Reserve that has created uncertainty in global financial markets. In the U.S., the number of operating oil rigs fell by one to 478 last week, the lowest since the week to July 19, Baker Hughes data showed.

Persons: Joe Biden's, Biden, Tony Sycamore, Brent, WTI, Baker Hughes Organizations: Brent, U.S, West Texas, IG, International Energy Agency, U.S . Federal Reserve Locations: Cushing , Oklahoma, Russia, Ukraine, China, Kursk, U.S

☆ Meet the top 4 candidates Trump is considering for Secretary of the Treasury
▼ + stars: | 2024-11-18 | by ( Matthew Loh | ) www.businessinsider.com time to read: +8 min

AdvertisementLast week, Trump was said to be deciding between two leading candidates for Treasury Secretary. Here are the top picks Trump is reportedly now considering for Secretary of the Treasury. Kevin WarshKevin Warsh, center, is rising as one of the candidates for Trump's Treasury Secretary. AdvertisementMarc RowanMarc Rowan isn't said to be actively lobbying for Treasury Secretary, but his aides have reportedly been in touch with the Trump administration. Drew Angerer/Getty ImagesBessent, 62, was one of the original frontrunners for Trump's Treasury Secretary.

Persons: Trump, Kevin Warsh, Marc Rowan, Donald Trump, Robert F, Kennedy Jr, Florida Sen, Marco Rubio, Janet Yellen, he's, it's, Kevin Warsh Kevin Warsh, Tasos Katopodis, Warsh, Morgan Stanley, George W . Bush, Axios, Jerome Powell, Marc Rowan Marc Rowan isn't, PETER, Getty Images Rowan, Rowan, Rowan isn't, Howard Lutnick Howard Lutnick, ANGELA WEISS, Cantor Fitzgerald, Lutnick, Linda McMahon, He's, Vance, Elon Musk, Musk, Scott Bessent Scott Bessent, Drew Angerer, Bessent, George Soros, Soros, Breitbart, Kamala Harris, Joe Biden's, MAGA Organizations: Treasury, White, Department of Health, Human Services, State Department, Trump, Street, New York Times, Trump's, Federal Reserve Board, Getty Images, Apollo Global Management, Apollo, Times, Bloomberg, Madison, Garden, AFP Lutnick, WWE, Hamptons, Apple, World Trade, Key, Capital Management, Reuters Locations: Florida, America, Lago

☆ Microsoft Copilot's underperformance is the latest red flag for investments in AI
▼ + stars: | 2024-11-18 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

The big storyA Copilot conundrumMicrosoft; Chelsea Jia Feng/BIMicrosoft's challenges with its flagship AI product could be another red flag for an industry with high hopes for the tech. Earlier this year, analysts at Barclays highlighted an under-the-radar risk to AI bets: the depreciation costs related to AI chips . A potential Trump trade plan beneficiary: US semiconductor jobs. If Trump's proposed trade plan is enacted, the American semiconductor industry could see hiring growth. Walmart might be just fine under Trump's proposed trade plan.

Persons: Copilot, Chelsea Jia Feng, Insider's Ashley Stewart, Satya Nadella didn't, doesn't, Ashley, It's, Sam Altman, Alistair Barr, Alyssa Powell, Jared Spataro, OpenAI, Biden, Carlyle, Will Matt Gaetz, Will Trump, Rob Arnott, Arnott, ANGELA WEISS, Trump's, Ilya Sutskever, Mira Murati, Rebecca Zisser, homebuyers, Trump, Bob Iger, Dan DeFrancesco, Grace Lett, Ella Hopkins, Hallam Bullock, Amanda Yen, New York.Milan Sehmbi Organizations: Business, Microsoft, Chelsea, Getty, Lumen Technologies, Barclays, Trump, Treasury, UFC, Republican, Getty Images, Elon, Spirit Airlines, JetBlue, Walmart, Walmart US, Shoppers, The Locations: Ukraine, Russia, Rio de Janeiro, New York, Chicago, London, New York.Milan

☆ Markets have shifted from political uncertainty to policy uncertainty, says Citi's Rob Rowe
▼ + stars: | 2024-11-18 | 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 EmailMarkets have shifted from political uncertainty to policy uncertainty, says Citi's Rob RoweRob Rowe, Citi U.S. regional director of research and head of global strategy, joins CNBC's 'Money Movers' to discuss the markets moving downward after a post-election spike, what he's looking for from the economy and Federal Reserve going forward, and more.

Persons: Citi's Rob Rowe Rob Rowe Organizations: Markets, Citi U.S, Federal Reserve

☆ Why one veteran economist is doubling down on his 2025 recession call after Trump's victory
▼ + stars: | 2024-11-18 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

That's due to a recent contraction in the money supply, which preceded past downturns, he told NYSE TV Live. The US economy is still likely to slow into a recession next year — and Trump's election victory may have just made the economic outlook even more challenging, according to top economist Steve Hanke. AdvertisementM2, one class of the money supply, shrank from mid-2022 to March 2024, according to Federal Reserve data. The M2 money supply started to re-expand this year, rising 2.47% year-per-year at the end of September. Trump's protectionist economic policies also impose a "big negative" for the economy, Hanke said.

Persons: Steve Hanke, downturns, Johns Hopkins, who's, That's, Hanke, Trump Organizations: NYSE TV, NYSE, Federal Reserve, Real Locations: Atlanta

☆ Morningstar names cheap stocks in a sector that 'deserves a place in everybody's portfolio'
▼ + stars: | 2024-11-18 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +2 min

Top Morningstar strategist David Sekera says there's one sector that "deserves a place in everybody's portfolio" right now — the energy sector. Stocks Sekara is betting on within the energy theme include Exxon Mobil and Devon Energy . Morningstar has a four-star rating on Devon Energy and says it is trading at a 22% discount to fair value. The investment research company gives stocks a rating of between one and five stars, with a top rating indicating that the shares are undervalued. Sekera says that U.S. stocks are now trading around 6% higher than their fair value.

Persons: David Sekera, George Bull, Sander Morris, Aaron Dunn, Donald Trump's, Morningstar, Trump, Sekera, Sekara Organizations: Morgan, Value, Exxon Mobil, Devon Energy, Exxon Mobile, U.S, Trump, U.S . Federal Reserve Locations: U.S, Morgan Stanley's

☆ New Treasury Secretary's number one job will be reassuring the markets, says Axios' Mike Allen
▼ + stars: | 2024-11-18 | 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 EmailNew Treasury Secretary's number one job will be reassuring the markets, says Axios' Mike AllenMike Allen, Axios co-founder, joins 'Squawk Box' to discuss Trump's cabinet picks to date, the role for Federal Reserve, and much more.

Persons: Axios, Mike Allen Mike Allen Organizations: Treasury, Federal Reserve

Many people feel “that they’re not getting enough back, that a college education isn’t worth enough,” said Paul Peterson, a professor of education policy and governance at Harvard University. The data says that college education is worth more than ever.”The dissonance shows how higher education has become another slice of the economy where the vibes are worse than the numbers might suggest — and risks exacerbating Democratic losses with working-class voters. Andrew Smith, director, University of New Hampshire Survey CenterThere are many reasons why improving college affordability may not register widely. Given other budget pressures — from child care to car insurance — college expenses simply might not have fallen enough to matter. A polling site in Vienna, Va., on Election Day, which saw working-class voters further embrace Republicans.

Persons: they’re, ”, Paul Peterson, Donald Trump, Kamala Harris, Trump, Andrew Smith, Pew, “ We’ve, Robin Isserles, ” Isserles, “ I’ve, Bill Clark, Ashley Koning, Harris, ” Koning, Sallie Mae Organizations: Harvard University, “, NBC, Pew, University of New Hampshire Survey, grads, National Center for Education Statistics, Dallas Federal Reserve Bank, Manhattan Community College, Trump, Voters, Inc, Getty, Eagleton Center for Public, Rutgers University, Democrats, College Board, Republicans Locations: New York City, Staten Island, Long, Nassau County, Vienna, Va, New Jersey, New Jersey , New Hampshire, Pennsylvania

☆ Restaurant executives can't wait for 2025 after slow traffic and wave of bankruptcies
▼ + stars: | 2024-11-17 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

After a tough year for the restaurant industry, executives can't wait for 2025 to start. And many of the nation's largest restaurant chains, from McDonald's to Starbucks , have disappointed investors with same-store sales declines for at least one quarter. But green shoots have appeared, fueling tepid optimism for the future of the restaurant industry. Plus, interest rates are finally falling. For restaurants, lower interest rates mean that it's cheaper to finance new locations, fueling growth.

Persons: Kate Jaspon, Dunkin, Burger Organizations: Inspire Brands, Restaurant Finance, Development Conference, Intelligence, Starbucks, Revenue Management Solutions, Burger King, Restaurant Brands, Federal Reserve Locations: Las Vegas, McDonald's

☆ 4 signs of re-inflation investors should watch out for, Charles Schwab says
▼ + stars: | 2024-11-17 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +7 min

AdvertisementInflation's downtrend may not be as straightforward as some investors think, according to Charles Schwab. Immigration reform could mean higher labor costs," the note added. Labor costs risingLabor costs have accelerated in recent months, with unit labor costs among all workers in the business sector rising to 3.4% year-over-year in the third quarter, according to Federal Reserve data. Markets are beginning to dial back expectations for further rate cuts in response to inflation concerns," Schwab strategists said. Charles Schwab, Citi Economic Surprise Index"Stronger growth suggests that the Fed may not lower short-term rates as much as anticipated just a few months ago.

Persons: Charles Schwab, Donald Trump, Trump, Schwab, It's Organizations: Trump, Bureau of Labor Statistics, Labor, Federal Reserve, Unit, Bloomberg, Treasury, Business, Citi

☆ Stock futures open little changed as traders await Nvidia earnings: Live updates
▼ + stars: | 2024-11-17 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange during the opening bell on Nov. 13, 2024. Stock futures were slightly higher on Sunday night as Wall Street awaits a major earnings week and monitors a seemingly fizzled out postelection rally. S&P futures added 0.1%, while Nasdaq 100 futures gained 0.2%. The next major catalyst for the market this week will be Nvidia earnings, which are set to be released on Wednesday. Earnings from Palo Alto Networks and several major retailers, including Walmart , Target and Ross , are also on deck this week.

Persons: Donald Trump's, Jerome Powell, selloff, FactSet's John Butters Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Federal, Traders, Blackwell, Palo Alto Networks, Walmart, Target Locations: 18.680.12, Palo

☆ Young adults are holding off on moving out of their parents' house — here's what's behind the trend
▼ + stars: | 2024-11-17 | by ( Charlotte Morabito | In Charlottemorabito | ) www.cnbc.com time to read: +2 min

Approximately 1 in 3 U.S. adults ages 18 to 34 live in their parents' home, according to U.S. Census Bureau data. The pandemic caused more young adults to return home or remain living with their parents into their late 20s and 30s, but aside from that spike, the numbers have remained fairly consistent in recent years. The 2008 financial crisis, the Great Recession and the pandemic are all examples of economic shocks. More than half of Gen Z adults say they don't make enough money to live the life they want due to the high cost of living, according to a 2024 survey from Bank of America. A significant number of millennials and Gen Z adults lack emergency savings.

Persons: Joanne Hsu, Hsu Organizations: Census, University of Michigan, Federal Reserve, Finance, Bank of America Locations: U.S

☆ Wall Street is gearing up for an M&A boom under Trump. These companies could be attractive targets
▼ + stars: | 2024-11-17 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +5 min

Now that the election is over, and a change at the FTC seems highly likely, Wall Street is getting ready for a new era. "In my opinion, bank M & A has reopened for every bank absent the globally systemically important banks," Mills told CNBC. DFS 1M mountain Shares of Discover Financial rallied sharply after the election of Donald Trump. The merger between those two companies was blocked by a judge and then dropped this past week , but both companies could be players moving forward. There's still a populist tone in the Trump campaign … and enforcement, in my opinion, is not going to go away.

Persons: Trump, Lina Khan, Carlyle, Harvey Schwartz, Morgan Stanley, Stephanie McCann, McDermott Will, Emery, Wolfe, Naturium, Goldman, Ed Mills, Raymond James, Mills, Donald Trump, Joe Biden's, Matt Gaetz —, —, There's, Kyle Healy, Alston, Michael Lynton Organizations: Federal Reserve, Federal Trade, FTC, Federal, CNBC, Wolfe Research, Amazon, Electronic Arts, Zoom Video Communications, EA, Activision Blizzard, Capital, Discover Financial Services, DFS, Discover Financial, Spirit Airlines, Frontier, JetBlue, Regulators, Trump, Bird, Warner Music Locations: Washington

☆ 5 things we're watching in the stock market in the week ahead
▼ + stars: | 2024-11-17 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

October retail sales, released Friday morning, came in slightly ahead of expectations, indicating a 0.4% monthly increase, versus a 0.3% increase expected. Disney's reported strong earnings and its stock advanced more than 16% for the week as a result. In the week ahead, we will get earnings from three Club names, including the highly anticipated quarter from Nvidia, and a couple of housing market-related updates. The Street is looking for Nvidia sales of $33.1 billion in its fiscal Q3 and earnings of 75 cents per share. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Donald Trump, Friday's, Jerome Powell, Powell, That's, YTD We're, we're, Jensen, Trump, Nvidia's, Stanley Black, Decker, Jim Cramer's, Jim Cramer, Jim, Angela Weiss Organizations: Dow, Nasdaq, Federal, Fed, Disney, Depot, Nvidia, TJX Companies, Home Goods, Blackwell, Palo Alto Networks, Home Depot, Stanley, Walmart, Viking Holdings, Sonoma, WSM, Baidu, PDD Holdings, Deere & Co, Warner Music Group, Intuit, Ross Stores, CNBC, Traders, New York Stock Exchange, AFP, Getty Locations: Maxx, U.S, China, Palo, VIK, Williams, New York City

Does Sunday’s wild win in Pittsburgh tell us more about the Steelers or Ravens when it comes to AFC contenders? Nguyen: This Packers team is better than last year’s edition. A month from now, are we going to be talking about the Dolphins, Colts, both or neither as competing for the seventh seed in the AFC? Pompei: The competition for the last wild-card spot in the AFC could come down to the Dolphins, Colts, Bengals and Broncos. The Colts defense has improved, and on Sunday Richardson executed better than he did prior to his benching.

Persons: Mike Jones, Ted Nguyen, Dan Pompei, Jones, Steelers hadn’t, Lamar Jackson, Derrick Henry, Henry, Justin Tucker, Tucker’s, Mike Tomlin, Nate Herbig’s, Payton Wilson, Hill, Tucker, I’m, Jeff Hafley, Jordan Love, Love, he’s, Josh Jacobs, Tua Tagovailoa’s, Anthony Richardson, Sunday Richardson, They’re, Richardson, Tagovailoa, hasn’t, Anthony Weaver, Mike Macdonald, Joe Sargent Organizations: Packers, Steelers, Ravens, AFC, The Athletic NFL, Pittsburgh, Chargers, 49ers, NFC, Green Bay, Bears, Dolphins, Colts, Bengals, Broncos, Lions, Patriots, Titans, Giants, Jaguars, Jets, Browns, Texans, Raiders, Chiefs, Getty Locations: Chicago, Pittsburgh, Atlanta, Washington, Baltimore, Green, Houston, Miami

☆ The crypto industry plowed tens of millions into the election. Now, it’s looking for a return on that investment
▼ + stars: | 2024-11-17 | by ( Fredreka Schouten | ) edition.cnn.com time to read: +10 min

Crypto super PACs spent heavily on Republicans as well as key Democrats, including two who won open seats in the US Senate, Elissa Slotkin in Michigan and Ruben Gallego in Arizona. How Washington regulates the industry has enormous consequences for this burgeoning sector, along with the 52 million Americans who now hold digital assets. “The strategy is to have as many conversations with as many people in the Trump orbit as possible so that everyone has an understanding of what the crypto industry is most interested in,” she said. They also helped finance Fairshake, a crypto industry super PAC launched last year that was active in congressional contests. An industry super PAC spent $40 million to back to Republican Senate candidate Bernie Moreno in Ohio, who ousted three-term Democratic Sen. Sherrod Brown.

Persons: Donald Trump, Gary Gensler, Biden, Crypto, Elissa Slotkin, Ruben Gallego, Sam Bankman, “ Crypto, ” Kristin Smith, we’ll, that’s, ” Smith, ”, Smith, Dan Gallagher, Paul Atkins, Atkins, Gallagher, Bitcoin, Trump, –, It’s, Barron, Steve Witkoff, multibillionaire Elon Musk, Cantor Fitzgerald Howard Lutnick, Carlos Barria, Reuters Howard Lutnick, Cantor Fitzgerald, Marc Andreessen, Ben Horowitz –, Sergio Gor, Andreessen, “, Tyler, Cameron Winklevoss, Musk, Katie Porter, Massachusetts Sen, Elizabeth Warren, Porter, Adam Schiff, Bernie Moreno, Democratic Sen, Sherrod Brown, Brown, Moreno, Colin McLaren, ” Robert Weissman, Andreessen Horowitz, Kara Calvert, CNN’s David Wright Organizations: CNN, Trump, Securities, Exchange Commission, Industry, Crypto, Blockchain Association, SEC, Token Alliance, Liberty, Liberty Financial, of Government, Republican, Reuters, Venture, Biden, PAC, Democratic Rep, Democratic, Banking Committee, Commodities Futures Trading Commission, Cedar Innovation Foundation, Consumer, Public Citizen Locations: Washington, Michigan, Arizona, Madison, New York City, U.S, America, Bitcoin, Massachusetts, California, Ohio

☆ Small businesses are hurting at the worst possible time
▼ + stars: | 2024-11-17 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

That’s because small businesses typically having tighter profit margins compared to behemoths like Walmart and Amazon, so they feel the sting of rising costs more acutely. The Small Business Index shows that 8 in 10 small retail businesses rely on holiday sales to meet their annual profit goals. If only it were that simple for small businesses. John Waldmann, chief executive of Homebase, a payroll software provider for more than 100,000 small businesses, said Enjou Chocolat’s dilemma is something he hears all the time. “Small businesses are really reticent to increase prices, so when they do, it’s because they have to,” Waldmann said.

Persons: Washington CNN — Enjou, Mark Chinsky, “, ‘ that’s, you’ve, ” Chinsky, that, Donald Trump, Kamala Harris, we’re, ”, Thomas Barkin, “ Price, Joe Raedle, John Waldmann, Enjou, ” Waldmann, “ They’re, Scott Olson, there’s, Sarah Jordan, ” There’s, Bill Dunkelberg Organizations: Washington CNN, CNN, National Federation of Independent Business, Walmart, ” Richmond Fed, Target, “, Board, Wrigley Field Locations: Morristown , New Jersey, America, Miami, Chicago

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