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This as-told-to essay is based on a conversation with Karla Trotman, President and CEO of Electro Soft Inc., a US specialty electronics manufacturer in Pennsylvania. My dad and I worked together, and in 2020, I bought them out, so now I'm the owner, president, and CEO. We're still feeling the reverberation from the last round of tariffs, so they never really went away in our industry. Tariff proponents seem to think that enforcing them will cause stateside manufacturing to somehow jump up and be prosperous, but it doesn't really work that way. We really need to understand where our partners are headed so we can flex to meet whatever demand is going to come down the pike.
Persons: Donald Trump's, Karla Trotman, We're, Trump, I'm, we're Organizations: Electro Soft Inc, Ikea, Southeastern Pennsylvania Manufacturing Alliance Locations: Pennsylvania, Asia, Taiwan, China
European markets are expected to open higher Wednesday as markets keep an eye on a spike in tensions in the Ukraine-Russia war. The U.K.'s FTSE 100 index is expected to open 4 points higher at 8,106, Germany's DAX up 46 points at 19,108, France's CAC up 23 points at 7,252 and Italy's FTSE MIB up 118 points at 33,567, according to data from IG. Asia-Pacific markets were mostly lower overnight after a mixed day on Wall Street amid the mounting geopolitical tensions. U.S. stock futures ticked higher on Tuesday evening, as investors looked toward a key earnings report from tech giant Nvidia . Traders are looking for more details on demand for Nvidia's Blackwell AI chips, which CEO Jensen Huang last month characterized as "insane."
Persons: Germany's DAX, Nvidia's, Jensen Huang Organizations: France's CAC, IG, Global, West ., Nvidia, Traders, Nvidia's Blackwell, Nasdaq Locations: Ukraine, Russia, U.S, West, West . Asia, Pacific, Severn Trent, British
Donald Trump's proposed tariffs will dent U.S. economic growth going into 2026, said Morgan Stanley's chief global economist Seth Carpenter. In the event that they are enacted all at once, they could result in a "big negative shock" to the economy, Carpenter told CNBC's Sri Jegarajah on the sidelines of Morgan Stanley's annual Asia Pacific Summit in Singapore. Carpenter, who maintained Morgan Stanley's base case of these tariffs being spread over 2025, said they would lead to higher inflation. "Then into 2026, we think growth starts to come down a great deal in the U.S. because of those tariffs and some of the other policies," he cautioned. Very clear, tariffs are a drag on growth for the U.S., not just for the countries that the tariffs are put on," Carpenter added.
Persons: Donald Trump's, Morgan Stanley's, Seth Carpenter, Trump, Carpenter, CNBC's Sri, Morgan, Mark Malek, Siebert, Joe Biden, Trump's, Malek, Ben Emons Organizations: Asia Pacific Summit, Microsoft, Apple, U.S . Federal Reserve, FedWatch Advisors Locations: China, CNBC's Sri Jegarajah, Morgan Stanley's, Singapore, U.S
The outlook for equity markets looks "decent" going into 2025, according to Barclays, as central banks cut interest rates and the global economy remains resilient. The bank named "overweight-rated stocks in which our analysts have high conviction in 2025 and see value in owning on an individual basis." Here are three of Barclays' top picks, which it gives over 35% upside potential: Shell Barclays is bullish on Shell and has a target price of £36 ($45.60) on the stock, giving it around 40% upside potential. They are currently trading around a three-times discount to their five-year average, Barclays' analysts said. Barclays has a target price of 160 euros ($169.50) on the Amsterdam-listed stock, giving it 44% potential upside.
Persons: BeSi, — CNBC's Michael Bloom Organizations: Barclays, Shell Barclays, Shell, London Stock Exchange, AstraZeneca, London, Stockholm Stock Exchanges, BE Semiconductor, BE Semiconductor Industries, Euronext Locations: U.S, , Euronext Amsterdam, Amsterdam
President-elect Donald Trump's second term could spell big gains for Robinhood , according to Bernstein. Analyst Gautam Chhugani, who has an outperform rating on the stock, increased his price target by $21 to $51 and named it his top "crypto deregulation" trade. "But under a potentially new pro-crypto SEC, this looks set to change, and we expect HOOD to be the biggest beneficiary of crypto regulatory tailwinds." Among the 17 analysts covering Robinhood, nine have a strong buy or buy rating, according to LSEG data. On the other hand, seven have taken a neutral stance with a hold rating and one has an underperform rating.
Persons: Donald Trump's, Bernstein, Gautam Chhugani, skyrockets, Chhugani, Gary Gensler, HOOD, , Oppenheimer, Teresa Goody Guillén –, BakerHostetler, Trump, Owen Lau Organizations: Robinhood, Securities and Exchange Commission, Trump, SEC Locations: HOOD
Ford Explorer electric cars are parked on car transporters on the Ford factory premises. It is the first electric car from Ford in Europe. The US car manufacturer Ford wants to cut 2,900 jobs in Germany by the end of 2027 in order to reduce costs. Ford said on Wednesday it would cut around 14% of its European workforce, blaming significant losses in recent years compounded by weak demand for electric vehicles, a lack of government support for the shift to EVs, and rising competition. The European Union has slapped tariffs on Chinese-made EVs, saying they benefit from unfair subsidies from China's government.
Persons: Ford, Donald Trump, John Lawler Organizations: Ford, Nissan, Volkswagen, European Locations: Ford, Europe, Germany, U.S, China, United Kingdom, Berlin
The euro has declined rapidly, meanwhile, briefly dipping below $1.05 on Nov. 14 for the first time since October 2023. Modeling by Barclays' economists shows the euro hitting dollar parity with a 10% tariff on European products and subsequent retaliation. The bank said the prospect of Trump tariffs and fiscal reforms had caused it to revise its view that the dollar would gradually decline through the year, instead seeing the U.S. currency "stronger for longer." Since hitting a low in September 2022, the euro has been comfortably back above parity even if below its long-range average. One of those 2022 factors roared back into focus this week, weighing broadly on European assets: the threat of escalating tensions with Russia.
Persons: Donald Trump, James Reilly, Reilly, George Saravelos, Trump, Saravelos, Goldman Sachs, Goldman Organizations: U.S, Republican, China —, Federal Reserve, Capital Economics, Federal, European Central Bank, FX Research, Deutsche Bank, Trump, Barclays, ECB, Fed Locations: Congress, China, U.S, Europe, Russia, Ukraine
New York CNN —Indian billionaire Gautam Adani and other executives were indicted in New York for roles in a multi-billion-dollar fraud scheme, the US Department of Justice said Wednesday. Authorities said Adani and seven other senior business executives, including his nephew Sagar Adani, promised more than $250 million in bribes to Indian government officials to secure solar energy contracts. Worth more than $85 billion, Adani is Asia’s second-richest person behind countryman Mukesh Ambani, according to Bloomberg’s Billionaires Index. The solar energy supply contracts were projected to raise more than $2 billion in profits after tax over an approximately 20-year period. The defendants frequently met and discussed the bribery scheme, including evidence on several phones.
Persons: Gautam Adani, Adani, Sagar Adani, , Lisa Miller, Worth, Mukesh Ambani, Cyril Cabanes, Adani Green, Jeff Bezos –, Hindenburg, Narendra Modi, CNN’s Diksha Madhok Organizations: New, New York CNN, US Department of Justice, Authorities, Adani Group, Indian, DOJ, Securities and Exchange Commission, Adani Green Energy Ltd, Power, SEC, Hindenburg, Bloomberg, Adani Enterprises, CNN Locations: New York
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLotus 'ready to partner with any manufacturer' to navigate trade tensions. Lotus CFO Alexious Lee sees potential for further growth in China, driven by sustained demand in the luxury electric vehicles segment there.
Persons: Alexious Lee Locations: China
AdvertisementA Chinese ship was seen near severed Baltic Sea internet cables, the FT reported. Sweden is investigating the sighting of a Chinese vessel near where two Baltic Sea internet cables were severed, the Financial Times reported. AdvertisementThe Danish defense ministry said it was "in the area near" the Chinese ship in a statement on X Wednesday, amid unconfirmed reports that Danish officials had boarded the vessel. The International Union of Marine Insurance estimates that repairing damaged cables usually costs between $7 and $12 million. AdvertisementIt comes amid tensions between the West and China over its support of Russia in the war against Ukraine.
Persons: Boris Pistorius, Yi Peng, Erin Murphy, Murphy Organizations: Financial Times, FT, Danish Navy, Strategic, International, Russia, Foreign, International Union of Marine Insurance, Ukraine, Sweden's Ministry, Foreign Affairs, Marine, China's Embassy, Business Locations: Sweden, China, Lithuania, Sweden's Gotland, Russia, Ukraine, Germany, Finland, France, Italy, Poland, Britain, Egypt, Gulf of Finland, West
Small-caps, small-cap value, non-US value stocks are expected to outperform with low valuations. Research Affiliates Founder Rob Arnott sees a bear market ahead for large-cap growth stocks. That spells trouble for the S&P 500, which is heavily made up of giant growth stocks like Apple, Microsoft, and Nvidia. Small-cap stocks, small-cap value stocks, and non-US value stocks are all poised to deliver at least 10% returns annually over the next 10 years, he said. Small-cap value stocks (Russell 2000 Value index) are also cheap, with a 14 CAPE ratio.
Persons: Rob Arnott, Arnott, Russell, Vanguard Russell Organizations: Research, Apple, Microsoft, Nvidia, Russell, Equity, Vanguard Locations: Japan, Europe, U.S
China's central bank on Wednesday kept major benchmark lending rates unchanged, as Beijing assesses the effects of its recent stimulus measures. The People's Bank of China said it would keep the 1-year loan prime rate at 3.1%, and the 5-year LPR at 3.6%. The 1-year LPR affects corporate and most household loans in China, while the 5-year LPR acts as a benchmark for mortgage rates. Only retail sales beat expectations, with a 4.8% year-on-year increase, indicating that recent stimulus had started seeping into certain sectors of the economy. Goldman, however, maintained "overweight" stance on China equities, forecasting a 13% upside to the benchmark CSI 300 index next year.
Persons: Bruce Pang, Pang, Pan Gongsheng, Morgan Stanley, Goldman Sachs, Goldman, Donald Trump's Organizations: People's Bank of China, People's Bank of, Reuters, Ministry of Finance Locations: Beijing, China's, People's Bank of China, China, JLL
Giraffe populations are declining at such an alarming rate — from habitat loss, poaching, urbanization and climate change-fueled drought — that US wildlife officials announced a proposal on Wednesday to help protect several of the species. The US Fish and Wildlife Service proposed listing many giraffe species as either endangered or threatened. It’s the first time the long-necked mammals, native to Africa, would receive federal protections under the Endangered Species Act. Declaring a species “endangered” is the most severe level of threat under the law, indicating the species is at immediate risk of extinction. The US has become a significant market for giraffe parts and products, importing nearly 40,000 for at least a decade-long period, a 2018 report showed.
Persons: Martha Williams Organizations: CNN, and Wildlife Service Locations: Africa, , United States, Kordofan, East Africa
CNN —Record-breaking ocean temperatures, fueled by planet-warming pollution, have turbocharged dozens of Atlantic hurricanes over the last few years, making them more potent and dangerous by increasing their wind speeds. Every hurricane in the 2024 Atlantic hurricane season was made stronger than it otherwise would have been without human-caused climate change, according to analysis from nonprofit climate research group Climate Central. Wind speeds of the 11 hurricanes were increased by 9 to 28 mph by water that was up to 2.5 degrees Fahrenheit warmer because of climate change. Nine of this season’s 11 hurricanes rapidly intensified and climbed up the hurricane category scale due to climate change-driven ocean heat. Climate Central researchers also found that human-caused climate change made exceptionally warm ocean temperatures that fueled Milton’s explosion 400 to 800 times more likely.
Persons: , Daniel Gilford, Hurricane Milton, Milton wouldn’t, Chandan Khanna, Debby, Oscar, Jim Kossin, Kossin, he’s Organizations: CNN, Climate, Climate Central, Simpson, National Oceanic, Atmospheric Administration, Water, Hurricanes, Hurricane, National Hurricane Center . Climate, Getty, NOAA Locations: Gulf of Mexico, Hurricane, Siesta Key, Florida
Back in late September, I laid out a bearish thesis on Apple and the trade expired last Friday and resulted in a 100% gain. Apple (AAPL) continues to face significant headwinds, with disappointing iPhone 16 sales, growing competition in augmented reality, and underwhelming progress in artificial intelligence (AI). China's slowing economy has weighed heavily on Apple, exacerbating challenges in one of its largest markets. While Apple boasts industry-leading net margins of 24%, its expected EPS growth of 11.6% and revenue growth of 6.9% provide limited justification for this valuation premium. With iPhone sales growth faltering and the lack of a clear catalyst from AI or AR/VR initiatives, AAPL's premium valuation remains increasingly difficult to sustain.
Persons: AAPL Organizations: Apple, Apple Intelligence, Meta, Microsoft, CNBC, NBC UNIVERSAL Locations: OptionsPlay
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPictet Chief Asia Strategist: Chinese companies are 'much better prepared' for Trump 2.0 tariffsDong Chen of Pictet argues that Chinese companies are better prepared to circumvent potential Trump 2.0 tariffs. Trump's win also strengthens the USD, resulting in postponed rate cuts by southeast Asian central banks.
Persons: Dong Chen, Pictet Organizations: Pictet, Trump Locations: Asia
The People's Bank of China (PBOC) building in Beijing, China, on Friday, Nov. 8, 2024. Asia-Pacific markets were set to open mostly lower Wednesday, following a mixed day on Wall Street amid mounting geopolitical tensions between Ukraine and Russia. Japan's Nikkei 225 futures pointed to a mixed open for the market, with the futures contract in Chicago at 38,300 and its counterpart in Osaka at 38,420 compared to the previous close of 38,414.43. According to a Reuters poll, China is expected to leave its benchmark lending rates unchanged on Wednesday after they were cut in October. Hong Kong Hang Seng index futures were at 19,619, slightly lower than the HSI's last close of 19,663.67.
Persons: Australia's Organizations: People's Bank of China, Investors, Reuters, Nikkei Locations: Beijing, China, Asia, Pacific, Ukraine, Russia, Japan, Chicago, Osaka, Hong Kong
Don't sweat the drop in Palo Alto Networks stock, which came despite a solid beat and raise after Wednesday's closing bell. Bottom line Palo Alto Networks is off to a strong start to its fiscal year 2025. Palo Alto Networks passed through the fiscal first-quarter earnings beat into its full-year fiscal 2025 outlook. NGS ARR includes revenue for Palo Alto Network's Prisma, Cortex, QRadar, and certain cloud-delivered security services. Nikesh Arora, Chairman and CEO of Palo Alto Networks, speaking at the TEC Summit on October 29, 2019 in New York City.
Persons: Platformization, We're, Palo, Nikesh Arora, Arora, Jim Cramer, SASE, billings, Jim Cramer's, Jim, Astrid Stawiarz Organizations: Palo Alto Networks, Palo, LSEG, Palo Alto, Alto Networks, Cisco Systems, cybersecurity, Street, Management, CNBC, TEC Summit Locations: Palo, platformization, Palo Alto, New York City
Luxury retailer Burberry 's shares present an attractive investment opportunity after the company revealed a new turnaround strategy, according to hedge fund manager David Neuhauser. The stock, which is also traded in the U.S. and Germany, remains down around 40% year-to-date, however. UBS said Burberry was the only luxury retailer not to report "weak organic sales growth" in the latest quarter. "I think Burberry has a good turnaround in place with a new CEO," Neuhauser added, while cautioning that the recovery might take longer than expected. "I think over some time, a good turnaround by Burberry, with strong leadership, could really see the stock price increase.
Persons: David Neuhauser, Neuhauser, CNBC's, Livermore, they're, Zuzanna Pusz, Burberry, , Joshua Schulman, Rogerio Fujimori, Adam Cochrane, FactSet, — CNBC's Karen Gilchrist Organizations: Burberry, Livermore Partners, UBS, Deutsche Bank, Stifel Locations: London, U.S, Germany, Asia, Swiss
The vast networks of data cables that crisscross our world's oceans are crucial for almost every aspect of modern life. Related Video Ukraine's sea drones vs. Russia's Black Sea FleetDespite their importance, events this week have highlighted just how vulnerable the West's internet subsea cables are to attacks from hostile powers. Unlike Russia, whose internet cables mostly run overland, the cables Western countries rely on are deep under the sea — and it's an asymmetrical vulnerability Russia is signaling it could exploit. AdvertisementIn response to the threat, Western countries are trying to better protect existing cable networks or route data through satellites if they are disrupted. In the CSIS report in August, Murphy and other analysts called for the US to strengthen international coordination and enhance resources to protect existing undersea cable networks.
Persons: Boris Pistorius, Gregory Falco, KIRILL KUDRYAVTSEV, Falco, Erin Murphy, Sidharth, Murphy, Sybille Reuter, Henri Kronlund Organizations: German, Financial Times, Sibley School of Mechanical, Aerospace Engineering, Cornell University, Getty, AIS, Emerging, CSIS, General Staff, Directorate, Cinia, West Locations: Baltic, Russia, China, Germany, Finland, Sweden, Lithuania, Ukraine, Russian, Vladivostok, Western Europe, India, Emerging Asia, Washington ,, London, Iceland
Limited benefits Insider’s Take The VentureOne Rewards Card is a slimmed-down version of the popular Capital One Venture Rewards Credit Card. Bank of America Travel Rewards Card ReviewCapital One VentureOne Credit Card Pros and ConsAdvantages of the Capital One VentureOne Credit CardThe VentureOne Rewards Card comes with several significant advantages, making it an attractive choice for those seeking a straightforward rewards program. Capital One VentureOne Card Frequently Asked QuestionsWhat makes Capital One VentureOne Credit Card stand out? No, unlike the Capital One Venture Rewards Credit Card and Capital One Venture X Rewards Credit Card, the Capital One VentureOne Rewards Credit Card is not metal. Why You Should Trust Us: How We Reviewed the Capital One VentureOne Credit CardOur credit cards team reviewed the VentureOne Rewards Card in comparison to similar no-annual-fee travel credit cards.
Persons: Miles, LifeMiles, Smiles, Red, Wyndham, Chase, rideshares, cardholders, you've, haven't, It's, Gabriel Vito Gabriel Vito, Gabriel, Education Gabriel, ExperienceExpertiseEducation Read, Angela Fung, Read Organizations: Business, Capital, PayPal, Capital One Entertainment, Aeromexico Club, Air Canada, Air France, KLM, Blue, British Airways Executive Club, Cathay, Emirates, Etihad, Qantas Frequent, TAP Air Portugal Miles, Turkish Airlines Miles, Wyndham Rewards, Star Alliance, U.S, Chase, Unlimited, Card, Bank of America, The Bank of America, Social, Forbes, CNN, University of California, Banking, Education, The University of California, Finance Locations: Cathay Pacific Asia, Singapore, Europe, Asia, Riverside
Rising global trade tensions present a risk to the euro area economy, the bloc's central bank found in its biannual Financial Stability Review out on Wednesday. The European Central Bank also said weak growth was now a bigger threat than high inflation in the 20-nation euro zone. The latest figures recorded euro zone economic growth at a two-year high of 0.4% in the third quarter, while headline inflation hit 2% in October. "Rising global trade tensions and a possible further strengthening of protectionist tendencies across the world raise concerns about the potential adverse impact on global growth, inflation and asset prices," the Financial Stability Review said. Economists say the knock-on impact of implementing these measures could drag on the euro, if a slowdown in exports spurs the ECB to cut interest rates further and faster.
Persons: Donald Trump's Organizations: European Central Bank, ECB, U.S Locations: U.S, China
LONDON — U.K. inflation picked up sharply to a higher-than-expected 2.3% in October, data from the British Office for National Statistics showed Wednesday. The hike marks a sharp increase from the 1.7% rise recorded in September and exceeds the 2.2% forecast of economists polled by Reuters. The latest print once again brings inflation above the Bank of England's 2% target, potentially dampening the prospects of a final interest rate cut this year. Core inflation, which excludes energy, food, alcohol and tobacco, came in at 3.3% for the month, up slightly from 3.2% in September. The uptick was anticipated in part due to an increase in the regulator-set energy price cap that took effect in October, which is expected to lead to higher energy price inflation over the colder winter months.
Persons: Price Organizations: British Office, National Statistics, Reuters, Bank of England's, Institute of Chartered Accountants Locations: England, Wales
Einhorn said he's not bearish, but there will likely be better entry points into the market. Add David Einhorn to the list of top Wall Streeters pointing out how expensive the stock market is. Advertisement"This is a really, really, really pricey environment, but it doesn't necessarily make me bearish. Einhorn called this "the most expensive market of all time, as far as I can see, at least since I've been managing." AdvertisementBank of AmericaEinhorn is one of many to highlight stock valuations as a factor likely to impact forward returns.
Persons: David Einhorn, Einhorn, he's, CNH Industrials, it's, I've, Bank of America Einhorn, Goldman Sachs, David Kostin, Rob Arnott, Nelson Peltz, CNH, that's, That's Organizations: Alpha, Delivering Alpha, Capital, Bank of America, Research, Trian Partners, AG
Final Trade: Euro, IBB, SMH, NEM
  + stars: | 2024-11-20 | 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 EmailFinal Trade: Euro, IBB, SMH, NEMThe final trades of the day with CNBC’s Melissa Lee and the Fast Money traders.
Persons: CNBC’s Melissa Lee Organizations: Fast Money
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