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☆ Treasury yields fall as investors await the Fed’s preferred inflation gauge
▼ + stars: | 2024-11-27 | by ( Sawdah Bhaimiya | ) www.cnbc.com time to read: +2 min

ET, the yield on the 10-year Treasury was down by more than three basis points to 4.2673%. The 2-year Treasury yield was also down by more than three basis points at 4.2210%. U.S. Treasury yields were lower on Wednesday as investors awaited a key inflation reading, and weighed statements from the Federal Reserve meeting minutes from November. A flurry of economic data is expected to be published on Wednesday ahead of Thanksgiving on Thursday when markets will be closed. Meanwhile, President-elect Donald Trump's pick of Scott Bessent as Treasury secretary, continues to calm investors nerves.

Persons: Dow Jones, Donald Trump's, Scott Bessent, Bessent Organizations: Treasury, U.S, Federal Reserve, Federal, Traders, CME

☆ Russia appears to be stepping up its use of decoy drones to outwit Ukrainian air defenses
▼ + stars: | 2024-11-27 | by ( Tom Porter | ) www.businessinsider.com time to read: +2 min

It's using decoy drones to outwit Ukrainian defenses, according to the ISW. Around half the drones used to attack Ukraine are decoy drones, a report said. Russia is stepping up its use of decoy drones to distract Ukrainian air defenses in mass aerial attacks, according to The Institute for the Study of War (ISW). This, said the ISW's analysts, suggests that "Russian forces likely used a large number of decoy drones to overwhelm Ukrainian air defenses." The Associated Press in November found that Russia was using swarms of fake drones to surround deadly thermobaric drones, which are highly destructive.

Organizations: The Institute, Ukraine, Associated Press, AP Locations: Russia, Ukraine, Washington, DC, Russian

☆ Trump chooses U.S. Covid policy critic Bhattacharya to lead NIH
▼ + stars: | 2024-11-27 | by ( ) www.cnbc.com time to read: +2 min

Dr. Jay Bhattacharya speaks during a roundtable discussion with members of the House Freedom Caucus on the COVID-19 pandemic at The Heritage Foundation on Thursday, November 10, 2022. The NIH has been in the crosshairs of Robert F. Kennedy Jr., Trump's pick to lead the Department of Health and Human Services, which oversees the NIH. The NIH director oversees 27 institutes and centers that conduct early stage research on everything from vaccines for emerging pandemic threats to targets for new drugs. Bhattacharya, a Stanford health policy professor and doctor, was an outspoken critic of the U.S. government's Covid-19 policies during the pandemic. Francis Collins, the NIH director and Fauci's boss, defended Fauci in a July 2020 interview with STAT News, saying it was "unimaginable" to consider firing Fauci, as some Republicans had demanded.

Persons: Jay Bhattacharya, Donald Trump, Robert F, Kennedy Jr, Kennedy, Bhattacharya, government's, Anthony Fauci, Trump's coronavirus, Francis Collins Organizations: Caucus, Heritage Foundation, Tuesday, Stanford, National Institutes of Health, NIH, Department of Health, Human Services, RFK, Stanford University School of Medicine, Stanford's Department of Economics, NIH's National Institute of Allergy, Disease, STAT, Trump Locations: Stanford, Barrington, Fauci

☆ Blake Snell: Los Angeles Dodgers agree to sign two-time Cy Young Award winner
▼ + stars: | 2024-11-27 | by ( Jamie Barton | ) edition.cnn.com time to read: +2 min

CNN —The Los Angeles Dodgers have reportedly agreed to a $182 million contract with two-time Cy Young Award winner Blake Snell, according to multiple outlets, including The Athletic and the Associated Press. His average of 11.2 strikeouts per nine innings is the highest ever recorded in major league history. Snell is also one of only seven pitchers to have won the Cy Young Award in both the American League and National League, having collected the award in 2018 with the Tampa Bay Rays and in 2023 with the San Diego Padres. The Dodgers reportedly made a move for Snell following his success in San Diego, but the Seattle native eventually ended up with the San Francisco Giants in mid-March of 2024. No franchise has won consecutive Commissioner’s Trophies since the New York Yankees picked up three in a row between 1998 and 2000.

Persons: Cy Young, Blake Snell, Yoshinobu Yamamoto, Tyler Glasnow, Shohei Ohtani, Tommy John, Snell, Yamamoto Organizations: CNN, Los Angeles Dodgers, Athletic, Associated Press, Dodgers, MLB, Cy, American League and National League, Tampa Bay Rays, San Diego Padres, The Dodgers, San Francisco Giants, Cincinnati Reds, AP, Ohtani, New York Yankees Locations: San Diego, Seattle, Los Angeles

☆ Why Trump is threatening Canada with tariffs
▼ + stars: | 2024-11-27 | by ( John L. Dorman | ) www.businessinsider.com time to read: +5 min

AdvertisementPresident-elect Trump on Monday threatened to impose 25% tariffs on imported goods from Canada. In making his statement on Truth Social, Trump criticized Canada over immigration policy and drugs. President-elect Donald Trump this week has made waves with his vow to impose new tariffs on imported goods from Canada, China, and Mexico, which also happen to be the United States' top trading partners. "Canada places the highest priority on border security and the integrity of our shared border." "In addition, the CBSA [Canada Border Services Agency] is continually strengthening its ability to detect opioids through enhanced inspections at ports of entry, detector dogs, and emerging technologies, preventing opioids from entering and leaving Canada."

Persons: Trump, Donald Trump, Justin Trudeau, Canada's, " Trudeau, he'd, Jake Colvin, Chrystia Freeland, Dominic LeBlanc, Trump's Organizations: Social, Canada, Toronto Region Board of Trade, US Border Patrol, Customs, Border Patrol, New York Times, NPR, North American Free, National Foreign Trade Council, Canada Border Services Agency, Business, Trump Locations: Canada, Toronto, China, Mexico, United States, apprehensions

☆ Marc Andreessen is hopping on the Musk bandwagon and slamming manned fighter jets, saying there won't be 'spam in the can' if pilots aren't in the plane
▼ + stars: | 2024-11-27 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

Andreessen's comments echo that of Elon Musk, who said this week that he thinks crewed fighter jets are inefficient. Elon Musk isn't the only tech executive who thinks drones are way better than fighter jets. Related Video The true cost of America's war machinesAI-controlled jets, Andreessen told Rogan, are "far superior" to fighter jets that need pilots. Advertisement"Crewed fighter jets are an inefficient way to extend the range of missiles or drop bombs. Drones have been game-changing in modern warfare, but military experts say there are still advantages to having manned fighter jets over drones.

Persons: Marc Andreessen, Elon Musk, Andreessen Horowitz, Joe Rogan, Andreessen, Rogan, Musk, Eric Schmidt, Schmidt, Sebastian Thrun, Donald Trump's, Vivek Ramaswamy, Justin Bronk, Mark Gunzinger Organizations: Elon, Andreessen, Business, Stanford University, Ares Industries, of Government, The Wall, Pentagon, Royal United Services Institute, US Air Force, Concepts, Mitchell Institute for Aerospace Studies Locations: Silicon, Russia

☆ 10 things the Club is watching in the market Wednesday, including CrowdStrike, HP, Dell
▼ + stars: | 2024-11-27 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +4 min

CrowdStrike delivered a very good quarter after Tuesday's closing bell, with management raising its full-year outlook on sales, operating income, and earnings. Mortgage rates dropped last week, pushing home loans for purchases up 12% week over week and 52% year over year. Best Buy shares were steady Wednesday morning after their nearly 5% post-earnings drop in the previous session. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: CrowdStrike, Wells, Donald Trump, Kevin Hassett, Hassett, Stanley Black, Decker, Jim Cramer, We're, — CNBC's Zev Fima, Jim Cramer's, Jim Organizations: Dow, Nasdaq, Street, RBC, Dell, HP, Wall Street, National Economic Council, of Economic Advisers, Apple, Financial Times, Citi, holding's, Disney, Comcast's Universal, Paramount, Comcast, NBC Universal, CNBC, Jim Cramer's Charitable Locations: Wells Fargo, China

☆ Pep Guardiola says Manchester City fans are ‘right to express what they feel’ after booing team following draw with Feyenoord
▼ + stars: | 2024-11-27 | by ( Matias Grez | ) edition.cnn.com time to read: +4 min

CNN —Manchester City manager Pep Guardiola had no issues with fans booing his players after the team threw away a 3-0 lead and drew 3-3 against Feyenoord in the Champions League. The draw leaves City 15th in the new 36-team group phase in the Champions League. Per Reuters, City is the first team in Champions League history to fail to win a match having led by three goals in the 75th minute. People come here not to remember the success in the past, they come here today to see the team win and perform well. It’s a stark contrast to the defensive resilience in recent seasons that has provided the foundation for several Premier League titles and the first Champions League in the club’s history.

Persons: Pep Guardiola, “ We’ve, ” Guardiola, Erling Haaland, Gündoğan’s, Anis Hadj Moussa Feyenoord’s, Manuel Akanji, Ederson, Santiago Giménez, Jack Grealish’s, Guardiola, Martin Rickett, ”, Robert Lewandowski, Cristiano Ronaldo, Lionel Messi, Dani Olmo, Germain’s, Kim Min, jae, PSG’s Ousmane Dembélé, Germain, Atalanta Organizations: CNN, Manchester City, Feyenoord, Champions League, Tottenham Hotspur, Premier League, Sport, Reuters, Spurs, Tottenham, League, Citizens, Liverpool, 101st, Paris Saint, Bayern Munich, Bayern, PSG, Manchester, Feyenoord Barcelona, Brest Bayern Munich, Germain Sparta Prague, Madrid Inter Milan, Leipzig Bayer Leverkusen, Salzburg Sporting Clube de Portugal, Arsenal Young Boys Locations: ”, City, Catalan, Barcelona, Brest, Polish, Paris

☆ Record Number of Travelers Expected Over Thanksgiving Week
▼ + stars: | 2024-11-27 | by ( Hank Sanders | ) www.nytimes.com time to read: +1 min

Scott Arnould expected traffic and long lines when he arrived at Chicago O’Hare International Airport more than four hours before his flight home to Gulf Shores, Ala., on Tuesday — as experts warned of the busiest Thanksgiving travel week ever. The Transportation Security Administration said it expected to screen 18.3 million travelers from this past Tuesday through Monday — about 6 percent more than in 2023. AAA, the automobile organization, expects this year’s number of travelers will set records, including nearly 72 million motorists. The Midwest is expecting a wind chill, while the South and Northeast are expecting a cold, rainy storm system. Snow is also possible for parts of the Northeast.

Persons: Scott Arnould, —, Arnould, ”, “ Organizations: Chicago O’Hare International, Transportation Security Administration, AAA Locations: Gulf Shores, Ala, United States, South, Northeast

☆ Amazon is JPMorgan's best idea for the holidays
▼ + stars: | 2024-11-27 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Consider adding Amazon to your holiday stock shopping list, according to JPMorgan. Analyst Doug Anmuth named the stock its best idea heading into the holiday stretch, citing expectations for 7.5% year-over-year growth and online shopping market share gains. Shares have rallied 36% this year, with the firm's $250 price target implying 20% upside from Tuesday's close. "Amazon maintains a leading ~45% share of US e-comm & enters the holiday season with strong momentum from early holiday promotions, [same-day/1-day delivery], regionalization, expansion of the Prime ecosystem, & competitive prices," he wrote. Amazon shares have popped more than 35% year to date, and analysts see more upside ahead.

Persons: Doug Anmuth, Anmuth, Amazon's Organizations: JPMorgan

☆ Man arrested at LAX after allegedly checking suitcases filled with over 70 pounds of meth-caked clothing, including a cow onesie
▼ + stars: | 2024-11-27 | by ( Lex Harvey | ) edition.cnn.com time to read: +2 min

CNN —A California man was arrested at Los Angeles International Airport after he allegedly tried to check two suitcases containing more than 70 pounds of clothing caked in methamphetamine – including a cow pajama onesie – on a flight to Australia, federal prosecutors said Tuesday. Law enforcement extracted more than one kilogram (two pounds) of meth from the suitcases, the statement said. Matharu was intercepted at his gate and admitted to owning the suitcases, according to the court records. The clothing was likely “washed” in methamphetamine and left to dry, the court records said. Matharu is free on a $10,000 bond and is scheduled to be arraigned on Monday in Los Angeles, according to prosecutors.

Persons: onesie, Raj Matharu, Matharu, Martin Estrada Organizations: CNN, Los Angeles International Airport, United Airlines, Central District of, “, US Department of Justice Locations: California, Australia, Sydney, Central District, Central District of California, Los Angeles

☆ Trump is directing the trade war even before he takes office. Surprise tariffs were just the start.
▼ + stars: | 2024-11-27 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

AdvertisementUS President-elect Trump announced sweeping tariffs on Mexico, Canada, China, impacting global markets and currencies. Some analysts see Trump's tariff threats as leverage for countries to comply with the President-elect's wishes. President-elect Donald Trump has two months until he takes office, but he's already dishing out orders — and shaking the markets. Trump wrote. Trump jolted global markets, but the reaction was 'benign'Trump's announcements surprised global markets, with the Canadian dollar and the Mexican peso losing ground against the US dollar.

Persons: elect's, Donald Trump, —, Trump, George Saravelos, Saravelos, Dave Townsend, Dorsey, Whitney, Townsend, Nick Marro, Marro, Goldman Sachs Organizations: Trump, Canadian, greenback, Deutsche Bank, Economist Intelligence Locations: Mexico, Canada, China, Trump, Asia

☆ Why the $72 billion software company Workday is psyched about DOGE
▼ + stars: | 2024-11-27 | by ( Meghan Morris | ) www.businessinsider.com time to read: +3 min

AdvertisementMusk and Ramaswamy have plans for the DOGE, and Workday sees an opportunity. Workday aims to capitalize on federal agencies' shift from on-premises to cloud systems, its CEO said. Workday, the human resources software company that workers love to hate, is embedded in more than half of Fortune 500 companies. The $72 billion company has been building up its government customer base, from Oklahoma's Tulsa County to the US Department of Energy. On Workday's Tuesday earnings call, CEO Carl Eschenbach addressed an analyst's question about how DOGE could impact Workday's business.

Persons: Ramaswamy, Elon Musk, Vivek Ramaswamy, Donald Trump, Carl Eschenbach, Eschenbach, what's, it's Organizations: DOGE, Fortune, US Department of Energy, Ramaswamy's Department, Government, Companies, Department of Energy, Defense Intelligence Agency, Corporation for Public Broadcasting Locations: Oklahoma's Tulsa County

☆ How Will Trump’s Covid Contrarians Handle the Next Pandemic?
▼ + stars: | 2024-11-27 | by ( Sheryl Gay Stolberg | ) www.nytimes.com time to read: +1 min

But amid growing fears of a deadly bird flu pandemic, perhaps no one was more rattled than experts in infectious disease. Dr. Bhattacharya, a Stanford University medical economist and outspoken opponent of lockdowns, masking, school closures and other Covid-19 mitigation measures, and Mr. Trump’s other health picks have one thing in common. They are all considered Covid contrarians whose views raise questions about how they would handle an infectious disease crisis. Robert F. Kennedy Jr., Mr. Trump’s choice for health secretary, has said he wants the N.I.H. of its role in ensuring vaccine safety, saying the agency had a “conflict of interest” because it also promotes vaccination.

Persons: Donald J, Trump, Jay Bhattacharya, Bhattacharya, Covid, Robert F, Kennedy Jr, ” Dr, Martin Makary, Dr, David Weldon Organizations: National Institutes of Health, Stanford University, and Drug Administration, Republican, for Disease Control

CNN —The ceasefire agreement between Israel and Hezbollah is a major diplomatic breakthrough that follows 13 months of escalating conflict, upheaval and displacement in Lebanon. In that time, troops from both sides will retreat from southern Lebanon, while the Lebanese military and families who fled in recent months will move in. Israel’s forces must retreat beyond the so-called Blue Line, a “line of withdrawal” established by the UN in 2000 following 18 years of Israeli military occupation in southern Lebanon. Israeli aerial attacks have focused on the southern border regions of Lebanon, but have hit targets in the center and the north as well. Planet Labs PBC Planet Labs PBC Dozens of buildings were destroyed in Meiss al-Jabal, visible in satellite imagery provided by Planet Labs.

Persons: Israel, Benjamin Netanyahu Organizations: CNN, Lebanese, UN Security, UN, Planet Labs PBC Planet, Planet Labs, Planet Labs PBC Locations: Israel, Lebanon, Meiss al, Beirut

☆ EasyJet rakes in record $4.5 billion from fare add-ons as CEO slams 'unfair' penalty over practice
▼ + stars: | 2024-11-27 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

EasyJet on Tuesday said it made a record £3.59 billion ($4.5 billion) from charging passengers for flight add-ons such as extra baggage in the full year to October, as the budget airline's CEO criticized a recent Spanish fine over the practice. Many airlines have stripped back what they include in their flight fares in recent years, instead relying on cashing in more from individual add-ons, as competition to offer ultra-low cost base fares intensifies. "We completely disagree with that, we think it goes completely against European law and European law's going to trump that," easyJet CEO Johan Lundgren told CNBC's "Squawk Box Europe" on Tuesday. "It's a highly unfair idea that you should not be able to offer products and services targeted for those people who want to use that. Spain's Association of Airlines (ALA), Ryanair, Norwegian and easyJet last week all criticized the fines and said they would dispute them.

Persons: Spain's, EasyJet, Johan Lundgren, CNBC's, easyJet Organizations: Spain's Ministry of Consumer Rights, Ryanair, Spain's Association of Airlines, ALA

☆ The Israel-Hezbollah cease-fire deal brings hope, but the US' role of monitoring violations raises issues
▼ + stars: | 2024-11-27 | by ( Joshua Nelken-Zitser | ) www.businessinsider.com time to read: +5 min

The US and France will play a role in monitoring for potential violations of the deal. Regional experts say the US role in monitoring creates complications and challenges. A cease-fire agreement that aims to end the fighting between Israel and Hezbollah, the Iran-backed Lebanese militant group, marks a hopeful diplomatic moment after nearly 14 months of conflict. Gerges said that the inclusion of the US in the cease-fire monitoring process "complicates" matters. The cease-fire agreement will not stop the fighting in Gaza, though President Joe Biden said on Wednesday that the US will make "another push" to broker a deal there.

Persons: Gerges, Israel, Benjamin Netanyahu, Paul Salem, Salem, Hassan Fadlallah, Ozcelik, Hezbollah's, Joe Biden Organizations: Hezbollah, Israel, London School of Economics, United Nations, Lebanese, Middle East Institute, Guardian, Royal United Services Institute Locations: Israel, France, Iran, Lebanese, Lebanon, Syria, East, Gaza

☆ 'Suits' actor Patrick J. Adams said his mom helped him confirm that it was time to quit and focus on family
▼ + stars: | 2024-11-27 | by ( Erin Liam | ) www.businessinsider.com time to read: +4 min

AdvertisementPatrick J. Adams left "Suits" after realizing he only stayed for the money. Patrick J. Adams knew it was time to leave "Suits" after a conversation with his mom. While Adams left the show after the seventh season in 2018, Gabriel Macht, who plays Harvey Spector, stayed on for the final two seasons. AdvertisementFirst released in 2011, "Suits" experienced a resurgence in popularity after being rereleased on streaming platforms like Netflix. AdvertisementSimilarly, Ashley Tan left her job as a JP Morgan analyst after feeling like she was wasting her life.

Persons: Patrick J, Adams, Troian, Jesse Tyler Ferguson, Mike Ross, Meghan Markle, You've, Gabriel Macht, Harvey Spector, Gabriel, Bellisario, I'd, Aaron Korsh, Macht, AJ Eckstein, Ashley Tan, It's Organizations: Canadian -, Harvard Law, Netflix, Nielsen, Business Insider Locations: Canadian - American, Toronto

☆ Several Trump Administration Picks Face Bomb Threats and ‘Swatting’
▼ + stars: | 2024-11-27 | by ( Devlin Barrett | ) www.nytimes.com time to read: 1 min

Several of the people President-elect Donald J. Trump has picked to be cabinet nominees or for White House positions received threats on Tuesday night and Wednesday morning, a transition spokeswoman said. said in a statement it was aware of “numerous bomb threats and swatting incidents targeting incoming administration nominees and appointees.”Karoline Leavitt, a spokeswoman for the Trump transition team, said several cabinet nominees and others were targeted with “violent, un-American threats to their lives and those who live with them.”The threatening behavior included bomb threats and “swatting” — the act of contacting law enforcement to falsely claim a dangerous person is at a particular address. Swatting calls are designed to create a frantic armed police response to frighten, harass and endanger someone at their home.

Persons: Donald J, Trump, ” Karoline Leavitt Organizations: White, Trump

☆ Trump’s trade threats put the world on a precipice and may say a lot about his second term
▼ + stars: | 2024-11-27 | by ( Stephen Collinson | ) edition.cnn.com time to read: +9 min

His first major global brouhaha since winning reelection posed the following questions that will help define the character of his second term. There’s no guarantee that Canada, Mexico and China will back down immediately. Trump’s trade war rhetoric is a reminder that in his worldview, the United States has few friends — only adversaries against whom it can choose to win or lose. The prime minister therefore has a huge incentive to avoid a trade war that could cause havoc in the Canadian economy. Initial reaction to Trump’s broadside against Canada and Mexico suggests that many observers see his outburst as a negotiating tactic.

Persons: Donald Trump, Trump, he’s, Pete, George W, Bush’s, “, “ Trump, Elon Musk, Justin Trudeau, Claudia Sheinbaum, —, Trudeau, Pierre Poilievre, Sen, Marco Rubio, Xi Jinping, ”, Gerry Connolly Organizations: CNN, Trump, Central ”, Elon, Conservative Party, Trade, North American Free Trade Locations: Canada, Mexico, China, United States, NATO, Russia, Ottawa, Canadian, Washington, Beijing, Europe, Ukraine

☆ Mexico vows to retaliate with its own trade barriers, putting US joint ventures at risk
▼ + stars: | 2024-11-27 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +4 min

AdvertisementDonald Trump said he'd put in place 25% tariffs on Mexican imports on his first day back in the White House. Mexico's president said her country would retaliate, which she said would impact joint ventures. During a press conference on Tuesday, Sheinbaum said that "one tariff will be followed by another, and so on, until we put joint ventures at risk." Sheinbaum said, adding that tariffs "would trigger inflation and job losses in the US and Mexico." Meanwhile, President Sheinbaum said that "dialogue is the best path to achieve understanding, peace, and prosperity for our two countries."

Persons: Donald Trump, he'd, Claudia Sheinbaum Pardo, Trump, Sheinbaum, Gabriela Siller, Wendy Cutler, Derek Scissors, Scott Bessent Organizations: Biden, Motors, Ford Motor Company, Banco Base, Associated Press, Asia Society Policy Institute, Trump, American Enterprise Institute Locations: Mexico, Canada, China

☆ Protesters Supporting Pakistani Ex-Leader Are Dispersed in Crackdown
▼ + stars: | 2024-11-27 | by ( Salman Masood | ) www.nytimes.com time to read: +1 min

Four civilians were reported to have been killed by gunfire in the unrest, according to local media reports. Thousands of protesters, led by Bushra Bibi, Mr. Khan’s wife, had gathered in the capital since Monday night. They vowed to stage a sit-in at a major town square near important government buildings, demanding Mr. Khan’s release. Since then, he has accused the powerful military of orchestrating his removal and has led a protest campaign to reclaim power through public rallies. Mr. Khan’s party, Pakistan Tehreek-e-Insaf, claimed victory in the elections and accuses the current civilian government of being a puppet of the military.

Persons: Imran Khan, Bushra Bibi, Khan’s Locations: Pakistan, Islamabad

☆ U.S., China and more: Value investor reveals what to buy as Trump tariffs loom
▼ + stars: | 2024-11-27 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

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

☆ In an F-35 funding fight, Musk will need to win over a skeptical Congress and Trump
▼ + stars: | 2024-11-27 | by ( Jake Epstein | ) www.businessinsider.com time to read: +6 min

AdvertisementElon Musk sharply criticized the F-35 stealth jet and its builder, Lockheed Martin. Musk could target the expensive program as part of his efforts to cut federal spending under Trump. Congress has historically valued the stealth fighter flown by three military branches despite its problems. His comments suggest he could be eyeing the $2 trillion F-35 program, and possibly other fighter jets, for potential spending cuts. In fact, the House's defense spending bill for the 2025 fiscal year called for more F-35s than what the Pentagon initially requested.

Persons: Lockheed Martin, Donald Trump, Elon, Musk, Trump, Elon Musk, ANGELA WEISS, Samuel King Jr, President Trump, Clawson, Michael Bohnert, Bohnert, Cmdr, Darin Russell, Stacy Pettyjohn Organizations: Elon, Trump . Congress, Pentagon, Congress, Getty, Trump, Department of Government, Department of Defense, Lockheed, US Air Force, Navy, Air Force, Marine Corps, RAND Corporation, US Navy, Defense, Center, New, New American Security Locations: New American

☆ Ikea warns Trump’s tariffs could push up prices
▼ + stars: | 2024-11-27 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

“We have never experienced a period of benefit when we had high tariffs,” he said, referring both to Ikea and the global economy. We will need to understand and adapt.”On Monday, President-elect Trump promised massive hikes in tariffs on goods coming from Mexico, Canada and China. The bulk of Ikea’s goods — some 70% — are produced in Europe, with the remaining 30% made in Asia, mostly China. Last year, Ikea cut prices on roughly 2,000 products — at a cost of more than €2 billion ($2.1 billion) — to give inflation-weary consumers a break. Ikea's Frakta bag displayed in Munich during a celebration of the brand's 50th anniversary in Germany on October 17, 2024.

Persons: Donald Trump’s, ” Jesper Brodin, ”, Trump, Claudia Sheinbaum, Tom Madrecki, General Mills, Molson, Ikea’s Brodin, Hus, Johannes Simon Organizations: London CNN, Ingka, CNN, Ikea, Consumer Brands Association, Molson Coors, Oxford Locations: Mexico, Canada, China, United States, Europe, Asia, Munich, Germany, Wembley, Croydon, London

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