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Evercore ISI downgrades Caterpillar to in line from outperform The firm said it sees earnings per share risk for Caterpillar. Barclays reiterates Instacart as overweight The firm said it is sticking with its overweight rating following earnings. " Telsey reiterates Target as outperform Telsey says it is sticking with its outperform rating on Target ahead of earnings next week. Jefferies reiterates Netflix as buy The firm said the latest report of monthly active users for Netflix weakens the bear case. " TD Cowen reiterates Cava as buy The firm said Cava had a "flawless" third quarter.
Persons: Oppenheimer, William M, Brown, reallocating, Wells, Morgan Stanley, Telsey, Salesforce, verticals, Jefferies, Piper Sandler, Wedbush, Tesla, Donald Trump, Elon Musk, TD Cowen, Cava Organizations: Caterpillar, CAT, UBS, DTC, Bank United, Bank, Solutions Holdings, C Insurance, Barclays, CART, Starbucks, Bank of America, Netflix, MAUs, Micron, Apple, ISI, Services, Department of Government, White, Trump Locations: 3Q24, FCF
Trump tapped Elon Musk and Vivek Ramaswamy to co-lead a "Department of Government Efficiency." The US spent $6.75 trillion in fiscal year 2024, with Social Security and health topping the list. The highest amounts of spending came from the Department of Health and Human Services, the Social Security Administration, and the Treasury Department. Over the past year, Social Security accounted for $1.46 trillion of the spending, health accounted for $912 billion, and Medicare came in at $874 billion. Social Security and Medicare are forms of mandatory spending that do not require annual congressional approval and would require legislation to change.
Persons: Trump, Elon Musk, Vivek Ramaswamy, , Donald Trump, Musk, Ramaswamy, Karoline Leavitt, Vance Organizations: Department of Government, US, Social Security, Service, GOP, Trump, Treasury Department, Department of Health, Human Services, Social Security Administration, Social, White, Management, Budget, Education Department, IRS, FBI Locations: Trump, Government
In a statement, Trump-Vance transition spokeswoman Karoline Leavitt said, "Elon Musk and President Trump are great friends and brilliant leaders working together to Make America Great Again. Elon Musk is a once in a generation business leader and our federal bureaucracy will certainly benefit from his ideas and efficiency." An adviser to Trump said that Elon Musk would join Trump in a meeting Wednesday with Republican lawmakers ahead of leadership elections. In posts on X in the past week, Musk has pushed various policy ideas including deporting immigrants and slashing government spending. On Sunday, one of Trump's grandchildren, Kai Trump, posted a photo on X of herself with Musk, writing that Musk was "achieving uncle status."
Persons: Elon Musk, Donald Trump, Vivek Ramaswamy, Musk, who've, they're, he's, Trump, Vance, Karoline Leavitt, Volodymyr Zelenskyy, Elon, pester Trump, Elon doesn't, Cantor Fitzgerald, Howard Lutnick, Kai Trump Organizations: Trump, Tech, SpaceX, Department of Government, America PAC, Mar, Ukrainian, Republican, PAC, West Palm Beach Locations: Butler , Pennsylvania, U.S, Beach , Florida, Pennsylvania, West Palm Beach, Mar, West Palm, Austin , Texas
New York CNN —Elon Musk, the world’s richest person, will be taking on an official role to try to help President-elect Donald Trump make government more efficient. It will add yet another responsibility to an ever-growing to-do list for the increasingly distracted CEO and business leader. Tesla, Musk’s most valuable company, in recent years has struggled to maintain its dominance of the electric vehicle market. Of course, that’s if Trump and Musk remain on good terms. And no matter how much power and influence Musk could yield, Trump will hold the ultimate trump card: He’ll be president.
Persons: New York CNN — Elon Musk, Donald Trump, Musk, Tesla, Trump, , Dan Ives, Ives, , it’s, ” Ives, He’ll Organizations: New, New York CNN, SpaceX, Boring, EV, Wedbush Securities, Trump White House, Tesla, Trump, Bloomberg, Boeing, Fidelity, Twitter Locations: New York, China
Traders work on the floor at the New York Stock Exchange (NYSE), after Republican Donald Trump won the U.S. presidential election, in New York City, U.S., November 6, 2024. U.S. stocks slid on Thursday, as fresh comments from Federal Reserve Chair Jerome Powell signaled that economic strength could warrant some patience with future rate cuts. The Dow Jones Industrial Average slipped 189 points, or 0.4%, after falling more than 250 points at the lows of the session. "The strength we are currently seeing in the economy gives us the ability to approach our decisions carefully," Powell said. Those moves come after the October producer price index released Thursday rose 0.2%, matching forecasts from economists polled by Dow Jones.
Persons: Republican Donald Trump, Jerome Powell, Stocks, Powell, Tesla, Dow Jones, Donald Trump's, Jay Woods Organizations: New York Stock Exchange, Republican, U.S, Federal, Dow Jones, Nasdaq, Trump, Russell, PPI, Dow, Freedom Capital Locations: New York City, U.S, Dallas
He cited X's increasing compliance with foreign governments' demands to censor content on the platform and the lawsuits against the Center for Countering Digital Hate and Media Matters. X has a pending lawsuit against Media Matters and a pending appeal in a lawsuit that X lost against the Center for Countering Digital Hate. The ACLU, the Electronic Frontier Foundation and the Knight First Amendment Institute at Columbia University filed an amicus brief in support of the Center for Countering Digital Hate. The feud between Musk and the Center for Countering Digital Hate has continued. Rep. Jim Jordan, R-Ohio, also criticized the Center for Countering Digital Hate on Thursday, sending the organization a demand for documents related to the "Kill Musk's Twitter" language.
Persons: Elon Musk, Donald Trump, Anna Moneymaker, Musk, Victoria Nuland, Nadine Strossen, Trump, Strossen, they're, Aaron Terr, Terr, there's, Michael Gerhardt, Chapel Hill, , X, Charles Breyer, Imran Ahmed, Elon, Ahmed, Jim Jordan Organizations: Republican, State Department, Center, American Civil Liberties Union, New York Law School, SpaceX, Justice Department, Foundation, Rights, Hate, Media, NBC News, NBC, Media Matters, University of North, Chapel, Department, The Justice, District, ACLU, Electronic Frontier Foundation, Columbia University, Racket, Federal Government Locations: Butler , Pennsylvania, University of North Carolina, U.S, Ohio
In this article BTC.CM= Follow your favorite stocks CREATE FREE ACCOUNTChesnot | Getty ImagesDogecoin shot higher on Tuesday night, extending its postelection surge after President-elect Donald Trump formally announced the creation of the Department of Government Efficiency, which he referred to as "DOGE" in his statement. Tesla CEO Elon Musk and Vivek Ramaswamy, former Republican presidential candidate and Strive Asset Management co-founder, will lead the department, Trump said in a statement. Stock Chart Icon Stock chart icon Dogecoin jumped after President-elect Donald Trump announced the creation of the Department of Government Efficiency, or "DOGE." Memecoins are seen as a gauge of retail interest and risk appetite in crypto. When memecoin activity ramps up, it usually indicates that retail investors are participating and have an appetite to speculate further out on the risk curve.
Persons: Donald Trump, Elon Musk, Vivek Ramaswamy, Trump, Dogecoin Organizations: Getty, Department of Government, Republican, Management, Administration
Elon Musk listens as President-elect Donald Trump addresses a House Republicans Conference meeting at the Hyatt Regency on Capitol Hill in Washington, D.C., on Nov. 13, 2024. Elon Musk on Wednesday joined President-elect Donald Trump for his first postelection meeting with the House Republican conference in Washington, D.C., an advisor to Trump told NBC News. Trump and Musk flew to the nation's capital together from Florida aboard Trump's plane. Musk has been alongside Trump in nearly every meeting, The New York Times reported. On Tuesday evening, Trump announced that "the Great Elon Musk" and entrepreneur Vivek Ramaswamy would lead an outside commission called the "Department of Government Efficiency," which aims to "dismantle government bureaucracy" and cut regulations.
Persons: Elon Musk, Donald Trump, Musk, Trump's, Trump, Elon, Vivek Ramaswamy Organizations: Republicans, Hyatt, Washington , D.C, Wednesday, House Republican, Trump, NBC News, SpaceX, The New York Times, " Department of Government Locations: Washington ,, Florida, Palm Beach
Bitcoin rose above $93,000 for the first time on Wednesday, adding to its postelection rally, as traders pored through October inflation data. Traders were digesting the most recent consumer price index, which showed prices increased 0.2% in October, bringing the 12-month inflation rate up to 2.6%. Bitcoin, which has recently benefited from a big postelection rally across risk assets, is seen by many investors as a hedge against potential fiscal policy that could spark inflation. The rest of the crypto market sold off as investors took profits from the past week's rally. Most bitcoin miners, including Mara Holdings , Riot Platforms , CleanSpark and Iren , formerly known as Iris Energy, tumbled double digits.
Persons: cryptocurrency, MicroStrategy, Mara, XRP, Dogecoin, Elon, Donald Trump's Organizations: Traders, Mara Holdings, Energy
Tesla initiates sixth Cybertruck recall in a year
  + stars: | 2024-11-13 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com   time to read: +2 min
Tesla is recalling 2,431 Cybertrucks to replace defective drive inverters, according to notices made public by the National Highway Traffic Safety Administration on Wednesday. It's the sixth recall of the Cybertruck since the angular steel pickup went on sale about a year ago. Tesla addressed the previous Cybertruck recall with an over-the-air software update to fix an issue that caused images from the truck's backup cameras to not display correctly after the driver shifted into reverse. The latest Cybertruck recall requires the replacement of a part called a drive inverter, which provides power to the wheels of the vehicle. Tesla CEO Elon Musk has clashed with NHTSA and other federal regulators for years.
Persons: Tesla, It's, Elon Musk, Donald Trump, Musk, Trump, Elon Organizations: National, Traffic, Administration, NHTSA, Department of Government, Congress, Trump Locations: U.S
Elon Musk says a leaderboard of "dumb" government spending will expose waste — and he wants your two cents. The Tesla CEO said this week that he planned to post a public "leaderboard for the most insanely dumb spending of your tax dollars." While the effectiveness of Musk's leaderboard remains to be seen, experts told Business Insider it showed his marketing savvy — even if it could also encourage "gotcha" moments that need more context. Especially in a dry realm such as government spending, Musk's plans are bound to grab eyeballs — and perhaps make people feel more invested in the outcome. She said there was some precedent for Musk's leaderboard, noting that former Sen. William Proxmire, a Democrat from Wisconsin, issued the "Golden Fleece Award" for wasteful spending throughout the 1970s and '80s via monthly press releases.
Persons: Elon Musk, , Musk, Donald Trump's, DOGE —, he's, Vivek Ramaswamy, Natalie Andreas, Austin who's, Ayelet, didn't, Musk's, Andreas, Karen North, Clinton, Sen, William Proxmire, It's, screwworms —, Amy Jo Kim, Kim Organizations: Service, Department of Government, University of Texas, Austin, University of Chicago's Booth School of Business, University of Southern California's Annenberg School for Communication, Journalism, Stanford Locations: Wisconsin
“Any disputes Musk has with his critics should play out in the court of public opinion, not a court of law,” Terr said. Musk and representatives at X did not respond to requests for comment on his calls for prosecution. Musk and X have sometimes found allies among members of Congress or state attorneys general who have launched investigations. “The First Amendment obviously protects both Musk and his critics in making public pronouncements about each other,” he said in an email. The feud between Musk and the Center for Countering Digital Hate has continued.
Persons: Elon Musk, Musk, Victoria Nuland, , ” Musk, Donald Trump, Nadine Strossen, Trump, Strossen, they’re, ” Aaron Terr, ” Terr, there’s, Michael Gerhardt, Chapel Hill, , X, Charles Breyer, Imran Ahmed, “ Elon Musk, , ” Ahmed, Ahmed, Jim Jordan, Travis Brown, Brown, Aaron Greenspan, PlainSite, Greenspan, Jack Sweeney, Sweeney, Taylor Swift, he’s, “ Trump Organizations: State Department, Center, American Civil Liberties Union, New York Law School, , SpaceX, Justice Department, Foundation, Rights, Hate, Media, NBC News, NBC, Media Matters, University of North, Chapel, Department, The Justice, District, ACLU, Electronic Frontier Foundation, Columbia University, Constitution, Racket, Twitter, Federal Government, World Federation, Internet, Wired, Washington Post Locations: University of North Carolina, U.S, Ohio, Texas, San Francisco
Saturday Night Live” cast member Chloe Fineman appeared to solve a mystery Monday about which recent “SNL” host made someone cry: She said that the host was tech billionaire Elon Musk and that she was the one in tears. In August, fellow cast member Bowen Yang said on a podcast that a male “SNL” host made multiple cast members cry because the host hated their ideas for sketches. “I’m gonna come out and say, at long last, that I’m the cast member that he made cry and he’s the host that made someone cry,” she said in the video. Musk didn’t immediately respond to a request for comment late Monday about Fineman’s video. Fineman didn’t say which sketch it was, but she said it made it onto the show and turned out well.
Persons: Chloe Fineman, Elon Musk, Bowen Yang, Yang didn’t, John Nacion, Fineman, I’m, , Wario, ” Fineman, , Musk wasn’t, Musk, Donald Trump, Kamala Harris, Dana Carvey’s, ” Musk, “ You’re Organizations: SNL, Getty, SpaceX, NBC, “ SNL Locations: New York City
President-elect Donald Trump said Tuesday that Elon Musk and former Republican presidential hopeful Vivek Ramaswamy will lead an efficiency group when his second term begins in January. Trump wrote in a post that the Department of Government Efficiency, or DOGE, will "become, potentially, 'The Manhattan Project' of our time." Trump didn't specify where cuts will take place or when the department may be formed. Musk, who also runs defense contractor SpaceX, has reportedly been stationed at Trump's Mar-a-Lago resort in Florida since election night. Ramaswamy, who challenged Trump in the Republican primary, is co-founder of investment firm Strive Asset Management.
Persons: Donald Trump, Elon Musk, Vivek Ramaswamy, Trump, hasn't, Musk, Ramaswamy, Pete Hegseth, John Ratcliffe Organizations: Department of Government, Trump, Republican, SpaceX, Fox News Locations: Trump's, Lago, Florida
Deutsche Bank anticipates more tailwinds ahead for Tesla under the incoming Trump administration. TSLA YTD mountain Shares this year Musk is already making strides in his alliance with Trump. ), we see potential large terminal value benefits to Tesla's efforts in auto, robotaxi, and even humanoid robotics," wrote Yu. Yu views China as the biggest potential uncertainty for Tesla as the Trump administration touts tariffs on goods from the world's second-largest economy. A repeal of the Biden administration's Inflation Reduction Act could also benefit shares of Tesla and give it an edge over legacy automakers General Motors and Ford.
Persons: Trump, Elon's Musk, Donald Trump, bode, Edison Yu, JD Vance, Yu, Tesla Organizations: Deutsche Bank, Tesla, Trump . Deutsche Bank, Trump, White House, Biden, General Motors, Ford Locations: China
CNBC's Jim Cramer examined Tuesday's market action, saying the rally fueled by the victory of President-elect Donald Trump took a breather as Wall Street weighs what broad tax cuts could mean for the bond market. Cramer called the day's moves a "sobering reaction to the potential unfunded tax cuts from the bond market," as both the 10-year and 2-year Treasury yields surged more than 4%. The bond market and the stock market usually have a negative correlation, with investors coming in and out of each depending on yields. Trump campaigned on the promise of tax cuts across a wide swath of sectors. Many on Wall Street expect these cuts will come in aggregate, but remain unsure of the specifics, Cramer noted.
Persons: CNBC's Jim Cramer, Donald Trump, Cramer, Trump, Elon Musk Organizations: Dow Jones, Nasdaq Locations: U.S
Elon Musk is close to setting a new wealth record following a Tesla stock surge since the election. Musk's net worth hit roughly $342 billion in Tuesday's premarket, exceeding his 2021 peak. AdvertisementElon Musk is close to breaking his wealth record following Tesla's postelection rally. The world's richest person gained almost $21 billion on Monday as Tesla stock jumped 9%, boosting his net worth to $335 billion, per the Bloomberg Billionaires Index. AdvertisementTesla stock was up 41% for the year at Monday's close, leaving it some way off its record close of $410 on November 4, 2021.
Persons: Elon Musk, , Tesla's, Jeff Bezos, Donald Trump's, Mark Malek, Siebert, Trump, Warren Buffett's, Berkshire Hathaway Organizations: SpaceX, Service, Bloomberg, PAC, Associated Press Locations: premarket, Monday's, Berkshire, Musk's
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKeep a broader perspective post U.S. elections and make bets on the margins: StrategistAdam Phillips of EP Wealth Advisors discusses why the firm's portfolios do not include Tesla or Bitcoin despite their strong performance following Trump's election.
Persons: Adam Phillips
The S & P 500 last week scored its best week since November 2023, hitting the 6,000 mark, while the 30-stock Dow Jones Industrial Average climbed above 44,000. Stocks seen as early beneficiaries, among them steelmakers and banks, are losing momentum, while others like Tesla are continuing to climb. Its shares are nearly flat week so far this week. Take a look at the lot: Tesla 's the most popular winner in the group, gaining roughly 21% since Nov. 6, boosted by CEO Elon Musk's close relationship with Trump. Other than Tesla, energy stocks Coterra Energy and Baker Hughes are also moving higher, the latter gaining more than 15% just this month.
Persons: Trump, Donald Trump, Stocks, Tesla, Morgan Stanley, Betsy Graseck, Elon Musk's, Edison Yu, JD Vance, Baker Hughes, Goldman, Citigroup — Organizations: weill, Dow Jones, CNBC Pro, Trump, Caterpillar, Steelmakers Steel Dynamics, JPMorgan, Citizens Financial, Prudential, Republican, Bank of America . Semiconductor, Micron Technology, Arista Networks, Deutsche Bank, Coterra Energy, Bank of America, Citigroup Locations: Wells Fargo
Source: NYSEThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. What you need to know todayThe bottom lineThe stock market is riding high on Trump's election victory. The postelection stock rally, however, is likely to stay strong for now. It's hard to go wrong following the age-old rules for investing in the stock market: Be in it for the long term, diversify and look at fundamentals like earnings and valuation.
Persons: HSI, it's, Morgan Stanley, Lisa Shalett, John Stoltzfus, Shalett, CNBC's Brian Evans, Alex Harring Organizations: New York Stock Exchange, CNBC, Dow Jones, Apple, Microsoft, Nasdaq, Dow, Republicans, Morgan, Morgan Stanley Wealth Management's, Oppenheimer Asset Management
Big rigs make up just 10% of the vehicles on the road, but they account for nearly 30% of total vehicle carbon emissions. Now one startup, California-based Range Energy, is focused not on the tractor but the trailer. said Ali Javidan, CEO of Range Energy. "When I push this button to activate the system, the trailer follows me," Javidan said as he demonstrated the system. Range Energy has raised $31.5 million so far, and it is backed by R7, UP.Partners, Trousdale Ventures and Yamaha Motor Ventures.
Persons: Ali Javidan, Javidan, Ricky Souza, Souza, There's, Tyler Engh, Engh, Lisa Rizzolo Organizations: Volvo, Freightliner, Tesla, Range Energy, Energy, Northern, Trousdale Ventures, Yamaha Motor Ventures, CNBC Locations: California, United States, Northern
Elon Musk embraces Donald Trump during a campaign rally in Butler, Pennsylvania on Oct. 5, 2024. Kissinger was deeply respected in China and continued to meet with its leaders as an unofficial diplomat in efforts to promote warmer relations between the two countries. Just months before Kissinger died in November 2023, he met with Chinese President Xi Jinping in Beijing in July 2023. They may not reach the same impact as Kissinger, given the more complex period, he said, though they could help stabilize relations. Cook and Schwarzman also regularly visit leaders in China, where they are often highlighted by Beijing as examples of positive China-U.S. business and trade relations.
Persons: Elon Musk, Donald Trump, Anna Moneymaker, Elon, Kissinger, Scott Kennedy, Henry Kissinger, Xi Jinping, Tesla, Li Qiang, Wang Yiwei, Wang, Musk's, Musk, Joe Biden, Biden, Trump, Wang Huiyao, Tim Cook, Blackstone, Stephen Schwarzman, Cook, Schwarzman, Dewardric Organizations: Getty, White, Economics, Center for Strategic, International Studies, U.S, SpaceX, Renmin University, CNBC, Trump, Center for, Longview Global Locations: Butler , Pennsylvania, Beijing, China, Washington, imploding, U.S, Center for China, Dewardric McNeal
Here are Tuesday's biggest calls on Wall Street: Loop initiates NXP Semiconductor as buy The firm said it's bullish on the semiconductor company. Morgan Stanley reiterates Walmart as overweight Morgan Stanley raised its price target on the stock to $89 per share from $82 ahead of earnings next week. Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's sticking with the stock heading into a Trump administration. Morgan Stanley upgrades International Flavors to overweight from equal weight Morgan Stanley said in its upgrade of International Flavors that the fragrance and spice company is undervalued. Morgan Stanley upgrades Viking to overweight from equal weight Morgan Stanley said it sees an attractive entry point for the cruise company.
Persons: it's bullish, NXPI, Mizuho, it's, Morgan Stanley, WMT, Tesla, VIK, Redburn, Ross, Robinson, Wells, Bristol Myers, MoffettNathanson, D.A, Davidson, Snowflake Organizations: Semiconductor, NXP Semiconductor, Nvidia, Mizuho, TAM, 4Q, Citi, Deutsche Bank, Deutsche, " Bank of America, & Co, Bank of America, Apple Locations: eCommerce, VIK, OW, Wells Fargo, Bristol
After we published our research, the story of driving rats went viral in the media. The tale of rat tailsIt wasn’t just the effects of anticipation on rat behavior that caught our attention. While it’s vital to study negative emotions such as fear and stress, positive experiences also shape the brain in significant ways. As animals – human or otherwise – navigate the unpredictability of life, anticipating positive experiences helps drive a persistence to keep searching for life’s rewards. That’s a lesson my lab rats have taught me well.
Persons: , John McManus, Kitty Hartvigsen, neuroscientists, what’s, Jaak Panksepp, , jomo ’, Curt Richter, Dr, Sanjay Gupta Organizations: CNN, jomo, Get CNN, CNN Health Locations: Rat, behaviorceuticals
download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementIt also undermines a core assumption about the future of generative AI: If you add more data and computing power, you get smarter and more powerful AI models. Top AI players have eye-popping valuations based on the promise that AI models will keep getting smarter and better with time. Getty Images; Chelsea Jia Feng/BISo what's holding AI models back from making another big jump? Anthony Scaramucci tells BI Trump's economic plans could cause a 1920s-style stock-market crash .
Persons: , OpenAI's, Fabrice Beaulieu, Justin Sullivan, That's, Insider's Hasan Chowdhury, Beatrice Nolan, Orion, OpenAI, Chelsea Jia Feng, Anthony Scaramucci, Trump, Viktor Kovalchuk, Michael M, Robert Perry, Rebecca Zisser, what's, Donald Trump —, Morgan Stanley, Carta, Jed Finn, Goldman Sachs, Jeremy Siegel, Trump's, Jeff Bottari, Donald Trump, Joe Rogan, elect's, Elon Musk, Tesla's, Musk, Timo Lenzen, Juan Merchan, Donald Trump's, Jack Teixeira, Dan DeFrancesco, Grace Lett, Ella Hopkins, Hallam Bullock, Amanda Yen, Milan Sehmbi Organizations: Business, Service, Orion, Getty, Companies, New York Times, Wall, Getty Images, Elon, BI, Trump Locations: GPT, undergrad, Mexico, New York, Ukraine, Massachusetts, Chicago, London
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