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☆ Welcome to the mullet market: Steady benchmarks in the front, crypto party in the back
▼ + stars: | 2024-11-23 | by ( Michael Santoli | ) www.cnbc.com time to read: +7 min

This market is starting to summon the lighthearted take on a mullet haircut: business in the front, party in the back. BTC.CM= YTD mountain Bitcoin, YTD Every bullish argument for bitcoin comes down to "More people will soon have more ways to buy more of it." I've tracked the interplay between bitcoin and Nvidia shares for a while. The market's immediate response was simply to allow Nvidia to hold onto the $2.3 trillion in market value it's added this year, but not to pile on more. Meaning the current pace of new money entering these funds is not as heavy relative to total market value as it was nearly four years ago.

Persons: Trump, bitcoin, I've, John Roque, Warren Pies Organizations: Nasdaq, Nvidia, Nvidia ramped, Vanda Research, Trump, 22V Research, Bloomberg, Federal Reserve, 3Fourteen Research Locations: lockstep, bitcoin

☆ I taught my kids how to be entrepreneurs from a young age. As teens, they've made about $10,000 so far.
▼ + stars: | 2024-11-23 | by ( Amanda Miller Littlejohn | ) www.businessinsider.com time to read: +5 min

AdvertisementI help people package and monetize their skills, and I've helped my kids do the same. From when they were young, they've published books, sold baked goods, and more. I told him that if he wrote a little more, I'd help him publish his story as a book on Amazon. He did a few book talks and book fairs, and all of his book sale money went into a high-yield CD. As of now, they've made around $10,000 from book sales, bake sales, audio editing, and digital art sales combined.

Persons: I've, they've, Connor, Amanda Miller Littlejohn Logan, Logan, they're, Amanda Miller Littlejohn, that's

☆ Bitcoin vs. gold: State Street worries the crypto rally's allure is distracting precious metal investors
▼ + stars: | 2024-11-23 | by ( Krysta Escobar | ) www.cnbc.com time to read: +2 min

The bitcoin rally is generating a false sense of security among investors, according to the strategist behind the so-called granddaddy of gold exchange-traded funds. State Street Global Advisors' George Milling-Stanley warns cryptocurrency plays don't offer the stability of gold. Milling-Stanley's comments came as his firm's SPDR Gold Shares ETF (GLD) celebrated its 20-year anniversary this week. It is the world's largest physically backed gold ETF, and it's up more than 30% in 2024. "But they called it mining because they wanted to seem like gold — maybe take some of the aura away from the gold."

Persons: George Milling, Stanley, cryptocurrency, It's Organizations: Street Global Advisors

☆ Amazon to invest another $4 billion in Anthropic, OpenAI's biggest rival
▼ + stars: | 2024-11-22 | by ( Hayden Field | ) www.cnbc.com time to read: +3 min

Amazon on Friday announced it would invest an additional $4 billion in Anthropic, the artificial intelligence startup founded by ex-OpenAI research executives. Anthropic is the company behind Claude — one of the chatbots that, like OpenAI's ChatGPT and Google's Gemini, has exploded in popularity. In March, Amazon's $2.75 billion investment in Anthropic was the company's largest outside investment in its three-decade history. The companies announced an initial $1.25 billion investment in September 2023. In September, Anthropic rolled out Claude Enterprise, its biggest new product since its chatbot's debut, designed for businesses looking to integrate Anthropic's AI.

Persons: Claude chatbot, Claude —, Claude, It's, Anthropic, Jared Kaplan, Kaplan, Claude Enterprise Organizations: Microsoft, Meta, AWS, Amazon's, CNBC, Google Locations: Anthropic, Amazon, San Francisco

☆ There's another surge in Americans seeking secondary passports. Global citizenship firms explain what's changed.
▼ + stars: | 2024-11-22 | by ( Ana Altchek | ) www.businessinsider.com time to read: +5 min

Global citizenship firms said clients are especially concerned about LGBTQ+ rights and the economy. American interest in secondary passports has been on the rise over the last year — and global citizenship firms have reported another surge since President Donald Trump's reelection. AdvertisementThe firm said it saw a 392% increase in inquiries from US nationals during election week compared to the week prior. AdvertisementHe said people are concerned about Trump's promise to raise tariffs, and how that could impact the economy and the US dollar. Leading up to the 2020 election, Jafri said there was an increase in interest from his clientele's Republican contingent.

Persons: Donald Trump's, Judi Galst, Reaz Jafri, Dasein, Jafri, isn't, he's, Galst, Rose Emmett, she's, Emmett, Elizabeth Warren, they've, Galt Organizations: Global, Henley & Partners, New, CS Global Partners, Republican Locations: New York, Europe, London, United States

☆ The 'Roaring 20s' rally will continue in 2025. UBS shares 8 ways to maximize gains.
▼ + stars: | 2024-11-22 | by ( James Faris | ) www.businessinsider.com time to read: +8 min

While Wall Street is confident that there will be a continued boom under Trump, UBS GWM is less sure. "AI infrastructure spending remains robust, and we expect key semiconductor components needed for AI to remain supply constrained in 2025, supporting pricing," UBS GWM strategists wrote. "We believe investment-grade bonds offer attractive yields and expect mid-single-digit returns in US dollar terms," UBS GWM strategists wrote. "In 2025, we believe gold will remain an effective hedge against key political concerns, including government debt levels, inflation, or geopolitical tensions," UBS GWM strategists wrote. Residential and commercial properties both make sense, though UBS GWM specifically cited property types like logistics, data centers, and multifamily housing.

Persons: Donald Trump, Mark Haefele, UBS GWM, Haefele Organizations: UBS Global Wealth Management, UBS GWM, Trump, UBS, Technology, Utilities Locations: Japan

☆ We're repurchasing shares of a health-care stock that we recently sold much higher
▼ + stars: | 2024-11-22 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

We are buying 50 shares of GE Healthcare at roughly $81.51. Following the trade, Jim Cramer's Charitable Trust will own 975 shares of GEHC, increasing its weighting to 2.2% from about 2.1%. GE Healthcare may be best known for selling medical equipment like MRI and CT machines, but its pharmaceutical diagnostics business is what's most exciting right now. One more thing we liked was GE Healthcare commitment to expand its adjusted EBIT margins. This year, GE Healthcare expects its adjusted EBIT margin to be between 15.8% and 16%.

Persons: Jim Cramer's, Vizamyl, We've, Donald Trump, Jim Cramer, Jim Organizations: GE Healthcare, GEHC, GE, CNBC Locations: China

☆ Charles Schwab incoming CEO: 'I feel silly' for not buying crypto
▼ + stars: | 2024-11-22 | by ( Jaures Yip | ) www.businessinsider.com time to read: +2 min

AdvertisementBitcoin is hovering near $100,000 as Trump considers a new crypto chief for his administration. Charles Schwab's incoming CEO said he has not personally invested in crypto and prefers stocks. Schwab plans to enter spot crypto trading, pending regulatory changes under Trump's policies. "Well, I think what's holding me back is just a question around the true value of crypto," he said. Advertisement"We will get into spot crypto when the regulatory environment changes, and we do anticipate that it will change, and we're getting ready for that eventuality," Wurster said.

Persons: Charles Schwab's, Schwab, Crypto, they've, Rick Wurster, Wurster, he's, Donald Trump's, Bitcoin, Trump, I've, I'm, They've, Andreessen Horowitz, we're Organizations: Trump, Bloomberg, Biden, Fidelity Investments, Robinhood Locations: bitcoin

☆ Citadel's Ken Griffin considers selling minority shares whilst handing out political advice to Trump
▼ + stars: | 2024-11-22 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, billionaire Ken Griffin has some advice for President-elect Donald Trump, including a suggestion for his Treasury pick . While speaking Thursday at the Economic Club of New York, Griffin said he appreciates the importance of those issues to Americans but said aggressive tactics to address them could make things work. Griffin is one of the biggest donors to the Republican Party, but declined to publicly endorse either presidential candidate this year. AdvertisementModeration hasn't been the name of the game for Trump with some of his proposed policies. AdvertisementHe said he'd be open to selling a minority stake in his hedge fund to the right partner.

Persons: it's, Ken Griffin, Donald Trump, Trump Ken Griffin, Mike Blake, Insider's Bradley Saacks, Michelle Abrego, Griffin, Manny Roman, Trump, Marc Rowan, Rowan, Alexander Tamargo, Thoma Bravo Griffin, he'd, Zalubowski, Chelsea Jia Feng, Elon, Paul, Tyson, Megyn Kelly, Tucker Carlson Ron Antonelli, Chip Somodevilla, Rebecca Zisser, Tucker Carlson, Bari Weiss, BI's Peter Kafka, Chris Balfe, Ridley Scott's, You've, Dan DeFrancesco, Jack Sommers, Grace Lett, Ella Hopkins, Amanda Yen, Milan Sehmbi Organizations: Business, Treasury, Trump, Citadel, Milken, Global Conference, Reuters, Economic, of New, Republican Party, Citadel Securities, Sequoia, Millennium Management, BlackRock, Chelsea, Getty, Netflix, Bank of America, NY Daily, Fox News, Auto, Ford, GM, Volkswagen Locations: Beverly Hills , California, U.S, of New York, Montreal, New York, London, Chicago

This isn't the first time I've received travel credit in exchange for taking a later flight — and it happens more often than you might think. How to get travel credit or compensation for giving up your seatPeak travel season often coincides with flight snafus from inclement weather or mechanical issues. If your schedule can accommodate a spontaneous change of plans, here's what you should know about volunteering for travel credit. AdvertisementUnderstanding bumping and denied boardingOperating a commercial flight is expensive, so most airlines slightly oversell each flight to compensate for no-shows and last-minute cancellations. You'll get the fastest response if you include your date(s) of travel, flight number(s), full contact information, and airline frequent flyer number.

Persons: I'm, I've, you'll, It's, you've, You'll Organizations: American Airlines, Department of Transportation, Aviation, Airlines Locations: New Orleans, Austin, Italy, U.S

☆ How the EV era is challenging leading engine maker Honda
▼ + stars: | 2024-11-22 | by ( Robert Ferris | In | ) www.cnbc.com time to read: +3 min

Honda is the world's largest engine manufacturer, powering about 27 million cars, motorcycles, generators, yard tools, airplanes, and other items. But it is struggling in some key regions, especially China, and it's challenged by the era of electric vehicles. Honda has been relatively slow to release models, and it has depended heavily on partners to keep up. Honda does have an in-house EV plan and its own platform. It's sinking $65 billion into EVs and software globally, including $11 billion in Canada and $3.5 billion for upgrades to facilities in the United States.

Persons: it's, Karl Brauer, they'd, Jake Fisher, Honda's, Gregory Noble Organizations: Honda, Acura, Ferrari, Lamborghini, Porsche, McLaren, Consumer, U.S, General Motors, Detroit, Toyota, University of Tokyo's Institute of Social Science Locations: U.S, China, Canada, United States

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin tests $100,000 heading into the weekend: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Bitwise CEO Hunter Horsley shares his thoughts on the crypto rally and whether he sees a correction coming soon.

Persons: explainers, Hunter Horsley Organizations: CNBC Crypto, CNBC

☆ A thoughtful teacher helped me and my twin after I hesitantly told her we were late to school because we were homeless
▼ + stars: | 2024-11-22 | by ( Jane Ridley | ) www.businessinsider.com time to read: +4 min

AdvertisementDina Winter-Robinson and her twin were homeless and constantly late for school at the age of 13. AdvertisementI suspect my 8th grade science teacher, Mrs. Falcoff, never knew what a gift she gave to me — a desperately shy teen who barely spoke at school — by making me feel heard. Related storiesEven though I admired Mrs. Falcoff, my shyness meant I hardly spoke to her. I'll never forget Mrs. FalcoffMom wrote the letter, which I gave to Mrs. Falcoff the next day. I've never forgotten Mrs. Falcoff and the important part she played in my life.

Persons: Dina Winter, Robinson, Falcoff, Gina, Auntie Marjorie, We'd, they'd, Dina, we'd, didn't, Falcoff Mom, Auntie Marjorie's, Mom, I've Organizations: New, Business Locations: New York City, Bronx, Brooklyn

☆ Barrick Gold CEO: Here is what's driving the price of gold lately
▼ + stars: | 2024-11-22 | 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 EmailBarrick Gold CEO: Here is what's driving the price of gold latelyMark Bristow, Barrick Gold president and CEO, joins 'Squawk Box' to discuss what's driving the price of gold lately, if Bristow considered owning Bitcoin, and much more.

Persons: Mark Bristow, Bristow Organizations: Barrick, Barrick Gold

☆ Top 10 S&P 500 stock winners since Election Day
▼ + stars: | 2024-11-22 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Michael M. Santiago | Getty Images News | Getty ImagesMany large U.S. companies have seen their stocks swell since the presidential election. The top 10 performing stocks in the S&P 500 index saw returns of 18% or more since Election Day, according to data provided by S&P Global Market Intelligence, which analyzed returns based on closing prices from Nov. 5 to Nov. 20. The 'Elon Musk premium'And then there's the Elon Musk factor. Tesla's stock got an "Elon Musk premium" from Trump's victory, said Goldberg of Professional Advisory Services. Shares of the electric-vehicle maker soared 14% the day after the election and almost 30% by week's end.

Persons: Michael M, Elon Musk, Donald Trump —, Jeremy Goldberg, Goldberg, Jacob Manoukian, Rosy, outperformance, David Glazer, Paul Moseley, Vistra, Stacey Doré, Elon, Trump, Donald Trump, Chris Unger Organizations: New York Stock Exchange, Santiago, Getty, P Global Market Intelligence, Professional Advisory Services, Inc, Trump, Deregulation, Morgan Private Bank, Companies, Warner Bros ., Max, Disney, Walt Disney Co, Palantir Technologies, Fort Worth Data, Fort Worth Star, Tribune, Service, Vistra Corp, Tech, Elon, Professional Advisory Services ., of Government, week's, UFC, Madison, Garden, Ufc Locations: U.S, Texas, —, Texas , Pennsylvania, Ohio, New York

☆ JPMorgan's AI rollout: Jamie Dimon's a 'tremendous' user and it's caused some 'healthy competition' among teams
▼ + stars: | 2024-11-22 | by ( Michelle Abrego | Bianca Chan | ) www.businessinsider.com time to read: +5 min

AdvertisementJPMorgan tech exec Teresa Heitsenrether talked about the bank's ongoing adoption of generative AI. And it certainly has helped with that," Heitsenrether, who is responsible for executing the bank's generative AI strategy, told a conference in New York on Thursday. AdvertisementDimon himself is a "tremendous user," she said, and is waiting for the ability to use the bank's tools on his phone. JPMorgan, America's largest bank, has now rolled out the LLM Suite, a generative AI assistant, to 200,000 of its employees. The wealth and asset management arm was the first division to use generative AI, piloting a generative AI "copilot" for its private bank this summer.

Persons: Teresa Heitsenrether, Heitsenrether, it's, Jamie Dimon, Dimon, He's, Keri Smith, What's, she'll, Sumitra Ganesh, Ganesh Organizations: JPMorgan, Accenture Locations: New York

☆ Mysterious exploding craters started turning up in Siberia 10 years ago. Scientists say more are likely.
▼ + stars: | 2024-11-21 | by ( Jessica Orwig | ) www.businessinsider.com time to read: +5 min

Tucked away in the frigid northern corner of Siberia are giant craters, some deep enough to fit a 15-story building. It's been fairly clear from the beginning that the craters are caused by some type of explosion deep underground. Researchers widely agreed that when these hydrates are damaged, they release methane gas, which is what's triggering the explosions in Siberia. AdvertisementMore exploding craters to comeSiberia will likely have more explosive craters in the coming years as global temperatures continue to warm. It's unclear exactly how much methane these explosions release, but in the grand scheme of climate change, they're a small matter.

Persons: It's, Ana Morgado, Morgado, Madeline Reinsel, Osomis Organizations: University of Cambridge, Business Locations: Siberia, Russia, Manhattan, Canada, It's

Together with her friend Mariah Allen, she started a company called Controlled Chaos in 2021 to sell pre-worn festival outfits. Getting thriftyThough she went to music festivals like Warped Tour when she was in high school, Karasack started regularly going to festivals, especially electronic dance music festivals like Electric Forest, in 2018. So in 2021, she decided to make her own festival outfits, using the sewing skills her grandmother had taught her as a child. In 2024, she'll attend eight music festivals, and she typically goes to nine or 10 per year. "The music festival scene is the most open and welcoming scene that there is — it is so much fun," she says.

Persons: She's, Karasack, Brooklyn Karasack, Andrea Desky, Mariah Allen, she's, Allen, she'll, —, Hurricane Milton, Pete, automates, whatever's Organizations: CNBC, Insurance, Transportation, Hulu, Spotify, Hurricane Locations: Brooklyn, St . Petersburg , Florida, TikTok, Florida, Canada, Las Vegas, St

☆ Boeing CEO Kelly Ortberg says the company's staff 'spend more time arguing' than strategizing about how to beat Airbus: report
▼ + stars: | 2024-11-21 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +3 min

The CEO also spoke with President-elect Donald Trump about the impact of his potential tariffs. Boeing's CEO Kelly Ortberg has a stern warning for his staff — stop squabbling and get to work. During the meeting, Ortberg also told staff not to "sit at the water cooler and bitch about people," per The WSJ's transcription of the recording. AdvertisementThe WSJ also reported that Ortberg has spoken with President-elect Donald Trump about the impact of potential tariffs on Boeing. Ortberg told staff that a potential trade war with China might impact the company's plane exports to Chinese airlines.

Persons: Kelly Ortberg, Ortberg, Donald Trump Organizations: Airbus, WSJ, Boeing, Business Insider, Trump, Seattle Times, Society of Professional Engineering Employees, Aerospace, . Aviation, Avia Solutions, Max Locations: Boeing's hourlong, China, Washington, Oregon

☆ What Comcast's cable network spinoff signals to the media industry
▼ + stars: | 2024-11-21 | 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 EmailWhat Comcast's cable network spinoff signals to the media industryJessica Reif Erlich, senior media and entertainment analyst at BofA Securities, and Mark Douglas, Mountain CEO, join CNBC's 'The Exchange' to discuss Comcast's newly-announced spinoff of its cable channels, what's next for the media industry, and more.

Persons: Jessica Reif Erlich, Mark Douglas, CNBC's Organizations: BofA Securities Locations: Mountain

☆ Demand for Nvidia products isn't letting up, Jim Cramer says
▼ + stars: | 2024-11-21 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Thursday reiterated his longstanding belief in Nvidia and CEO Jensen Huang, saying that despite the concerns of some on Wall Street, demand for the artificial intelligence behemoth's products isn't slowing down. Nvidia posted earnings Wednesday that comfortably topped estimates. Nvidia has had a meteoric rise, with shares currently up more than 196% year-to-date, and the company has posted large earnings beats quarter after quarter. According to Cramer, supply isn't set to outpace demand. Some of Nvidia's biggest customers, like Microsoft , Meta , Amazon and Tesla will have to keep buying the products, he said.

Persons: CNBC's Jim Cramer, Jensen Huang, Jensen, Cramer Organizations: Nvidia, Nvidia's, Microsoft, Meta

☆ OpenAI CEO Sam Altman was paid $76,001 last year
▼ + stars: | 2024-11-21 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +3 min

Its CEO, however, was paid a relatively modest five figures at OpenAI in 2023, filings show. OpenAI CEO Sam Altman was paid $76,001 in compensation in 2023 to lead what's now one of the most valuable startups in the world, the company's tax filings for the year showed. During a hearing before a senate judiciary subcommittee in May 2023, Altman said he gets "paid enough for health insurance" and that he receives no equity in OpenAI. Bloomberg estimated in March 2024 that the CEO is worth at least $2 billion, not including any stake he may have in OpenAI. Altman denied during an all-hands meeting with employees that there were plans for him to receive a "giant euqity stake," CNBC reported.

Persons: Sam Altman, what's, Altman, Ilya Sutskever, Chris Clark, Sutskever, Clark, OpenAI Organizations: Microsoft, Census Bureau, Social Security Administration, Bloomberg, CNBC Locations: OpenAI, San Francisco County

☆ Watch CNBC's full interview with Mountain CEO Mark Douglas and BofA's Jessica Reif Erlich
▼ + stars: | 2024-11-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Mountain CEO Mark Douglas and BofA's Jessica Reif ErlichJessica Reif Erlich, senior media and entertainment analyst at BofA Securities, and Mark Douglas, Mountain CEO, join CNBC's 'The Exchange' to discuss Comcast's newly-announced spinoff of its cable channels, what's next for the media industry, and more.

Persons: Mark Douglas, BofA's Jessica Reif Erlich Jessica Reif Erlich, CNBC's Organizations: Mountain, BofA Securities Locations: Mountain

☆ Goldman's hedge fund stock list is up 30% this year. Here's what's in it
▼ + stars: | 2024-11-21 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Goldman Sachs' list of top-performing longs in hedge funds has seen outsized gains in 2024, a sign that moves made by these firms have paid off this year. The bank's so-called very important positions, or "VIP," list has climbed about 30% year to date. Goldman strategist Ben Snider noted that hedge funds shifted somewhat to cyclical industrials from defensives in the third quarter, allowing them to benefit from the postelection rally. Goldman has a running list of its very important stock picks within hedge fund long holdings. However, most analysts surveyed by LSEG rate the stock a buy or strong buy, consensus price targets suggests shares may drop more than 23%.

Persons: Goldman Sachs, Goldman, Ben Snider, Snider, Mike Tyson, Jake Paul, AppLovin, Piper Sandler, James Callahan, Eli Lilly, Donald Trump, Robert F, Kennedy, Jr Organizations: China ADR, Netflix, Department of Health, Human Services, LSEG Locations: defensives, China

☆ The DOJ vs. Google: Breaking down the latest in the antitrust case and what it means for Chrome's future
▼ + stars: | 2024-11-21 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

AdvertisementThe DOJ has asked the judge in its antitrust case against Google to force the tech giant to sell Chrome, its massively popular browser. In August, a judge ruled Google violated antitrust laws and acted as a monopoly when it came to its search engine. Google will have a chance to respond next month with its own plan before the judge makes a ruling next year. That makes it a powerful distribution arm for Google since Chrome's default search engine is … Google. And Apple was making at least $20 billion a year by defaulting to Google Search .

Persons: Billy Bob Thornton, Trump, Elon Musk, Vivek Ramaswamy, Chelsea Jia Feng, Hugh Langley, Lara O'Reilly, Lara, Apple, Donald Trump, Matt Gaetz, Marc Rowan, Arturo Holmes, Apollo, Scott Kleinman, Jim Zelter, Morgan Stanley's, Jeff McMillan's, he's, You've, that's, Michael M, Tyler Le, Google's DeepMind, John Deere, Biden, Dan DeFrancesco, Grace Lett, Ella Hopkins, Hallam Bullock, Amanda Yen, Milan Sehmbi Organizations: Business, Justice Department, Google, Tech, Nvidia, Elon, DOJ, Microsoft, YouTube, Bloomberg, Big Tech, Trump, Getty, —, Comcast, Boston Celtics, White Locations: Los Angeles, New York, Chicago, London

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