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Now, they're waiting "until the last moment of need, focusing on deals, and then stocking up," CEO Brian Cornell said. Chief Commercial Officer Rick Gomez provided additional detail about how this new consumer pattern has played out for the company. Advertisement"Our Target Circle week this quarter was one of our biggest yet," he said. Unseasonably warm temperatures also meant that shoppers delayed their purchases of cold-weather apparel until they actually needed it, Gomez said. "Would you be willing to trade some of the upside in those areas for even more consistency from quarter to quarter?"
Persons: Brian Cornell, Rick Gomez, Gomez, Neil Saunders, , Fitch, David Silverman, Michael Lasser, Cornell Organizations: Target, Walmart, Data, UBS Locations: New York
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
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
Bloomberg | Bloomberg | Getty ImagesDonald Trump's U.S. election victory has ratcheted up concerns about higher prices, prompting strategists to rethink the outlook for global bond yields and currencies. Trump's return to the White House is seen as likely to throw a wrench in the Federal Reserve's rate-cutting cycle, potentially keeping an upward bias on Treasury yields. Bond yields tend to rise when market participants expect higher prices or a growing budget deficit. "Trump's election advances both possibilities as a trade war and increased fiscal spending work at cross purposes," he added. Germany's 10-year bond yield, the benchmark for the euro zone, stood at 2.337% on Wednesday, marginally lower for the session.
Persons: Donald Trump, Donald Trump's, Alim Remtulla, Remtulla, Kamala Harris, there's, Trump, There's, Shannon Kirwin, Kirwin, Sameer Goel, CNBC's, doesn't, Goel, MUFG Organizations: Bloomberg, Getty, EFG, Fed, CNBC, Treasury, Democratic, New York Stock Exchange, China News Service, Morningstar, European Union, Deutsche Bank, Trump, U.S, U.S ., Singapore, Malaysian, South Korean, ING Locations: Greensboro , North Carolina, Europe, United States, New York City, U.S, Mexico, Asia, China
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
A new brick-and-mortar store from the e-commerce startup Outlandish is bringing to life the world of TikTok Shop. In addition to TikTok Shop, Outlandish has experience working with brands to help them sell on Douyin and other social apps. Other TikTok Shop sellers have experimented with adding livestreaming spaces to their storefronts, such as the New York-based pre-owned luxury store What Goes Around Comes Around. Outlandish, which began in 2018 as a social shopping agency in China, is an official TikTok Shop partner. If that does happen, August said Outlandish's Santa Monica sellers could pivot to livestreaming on other platforms.
Persons: Anker, TikTok, Allison Wise, Amanda Perelli, William August, ByteDance, it'll, Outlandish's, Outlandish's Santa Monica Organizations: Goli, QVC, TikTok, US, Congress Locations: Los Angeles, China, Santa Monica's, influencers, Santa Monica, Asia, Los Angeles and New York, Mexico, Spain, America, New York, Santa, Outlandish's Santa, livestreams
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
"There's two things you need to know about Nvidia," Jim continued. Here's a closer look at a few key questions surrounding Nvidia's fiscal 2025 third-quarter report and the subsequent conference call at 5 p.m. Nvidia's triple-digit revenue growth in recent quarters is widely expected to moderate due to the law of large numbers. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: you've, ChatGPT, Jim Cramer, Jim, there's, Blackwell, Jensen, Blackwell pushouts, we're, We're, we've, Hopper, , Gross, Huang, Colette Kress, Nvidia, Kress, Jim Cramer's, Jensen Huang, Sam Yeh Organizations: Nvidia, Apple, AMD, Blackwell, Analysts, Truist Securities, Bank of America, Susquehanna, Microsoft, Meta, Sovereign, Evercore, Enterprise, CNBC, AFP, Getty Locations: CQ4, Japan, Indonesia, India, Denmark, Taipei
AdvertisementUS home prices and rents have soared in part because of a shortage of housing. These are the cost of land, a shortage of construction workers, regulations, and NIMBYism. The US is suffering from a deep shortage of homes, and it's driving sky-high home prices and rents. Advertisement"We just hear more and more that it's harder to find affordable pieces of land to develop for housing," Tobin said. Fewer construction workers means less — and slower — residential construction and higher wages for workers, which in turn leads to higher home prices.
Persons: Jim Tobin, Tobin, , ANDREW CABALLERO, REYNOLDS, NIMBY, Donald Trump Organizations: National Association of Home Builders, Trump Locations: Los Angeles, Seattle, Chicago, Brambleton , Virginia
AdvertisementUS home prices and rents have soared in part because of a shortage of housing. These are the cost of land, a shortage of construction workers, regulations, and NIMBYism. The US is suffering from a deep shortage of homes, and it's driving sky-high home prices and rents. Advertisement"We just hear more and more that it's harder to find affordable pieces of land to develop for housing," Tobin said. Fewer construction workers means less — and slower — residential construction and higher wages for workers, which in turn leads to higher home prices.
Persons: Jim Tobin, Tobin, , ANDREW CABALLERO, REYNOLDS, NIMBY, Donald Trump Organizations: National Association of Home Builders, Trump Locations: Los Angeles, Seattle, Chicago, Brambleton , Virginia
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
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
U.S. and Asia are 'our top focus' in global equities: Strategist
  + stars: | 2024-11-20 | 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 EmailU.S. and Asia are 'our top focus' in global equities: StrategistAnthony Raza of UOB Asset Management explains why his group is positive on U.S. and Asian equities, despite challenges from incoming president Donald Trump's potential policies.
Persons: Anthony Raza, Donald Trump's Organizations: U.S, UOB, Management Locations: Asia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUBS Global Wealth Management: still positive on markets, valuation 'cheap' in AsiaAdrian Zuercher of UBS Global Wealth Management remains positive on markets, noting that upcoming Fed cuts will be good for bonds and equities. He believes that China has the tools and willpower to introduce more policies to shore up consumer confidence especially if Trump tariffs materialize, and combat structural issues.
Persons: Asia Adrian Zuercher Organizations: UBS Global Wealth Management, Trump Locations: Asia, China
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
A changing ChinaIt was a different world in the late 2000s and early 2010s, when Chinese students first began surging overseas. In 2020, the US revoked visas for more than 1,000 Chinese students and researchers deemed security risks. In January this year, Chinese foreign ministry spokesperson Wang Wenbin said in a briefing that “dozens of Chinese nationals, including international students, have been forcibly deported by the US each month.” He decried it as “discriminatory,” urging the US to protect the rights of Chinese students abroad. The Covid yearsThe number of Chinese students in the US plunged during the pandemic and hasn’t rebounded since. “Since the economic sanctions and tech restrictions started in 2018, many (Chinese) students have been sent back home,” one user wrote on Weibo.
Persons: , , Mallie Prytherch, , , Donald Trump’s, ” Prytherch, Trump, Prytherch, Joe Biden, Wang Wenbin, Li Jing, hasn’t, Mirka Martel, Steven Hon, didn’t, Hon, Marianne Craven, they’ve Organizations: Hong Kong CNN, Education consultancies, State Department, of International Education, University of Hong Kong’s, Contemporary, Beijing, World Trade Organization, Games, America, Fulbright, Trump, Tsinghua University, CNN, Institute of International Education, Education, , Ivy League Locations: Hong Kong, United States, China, India, America, Contemporary China, , Beijing, cybersecurity, Macau, Weibo, Canada, Australia, American
“Mary Jane Veloso is coming home,” Marcos said in a statement. Philippine Foreign Undersecretary Eduardo de Vega said at a news conference in Manila that Filipino authorities would discuss the legal terms of Veloso’s transfer with their Indonesian counterparts. The Indonesian government has asked the Department of Justice in Manila to formally request Veloso’s transfer back to the Philippines, Justice Department spokesperson Mico Clavano said. Veloso traveled to Indonesia in 2010 where her godsister reportedly told her a job as a domestic worker awaited her. That Philippine case helped convince Indonesian authorities to delay Veloso’s execution and eventually consider her transfer back to her country, Clavano said.
Persons: Ferdinand Marcos Jr, Marcos, Prabowo Subianto, Mary Jane Veloso, “ Mary Jane Veloso, ” Marcos, , Mary Jane’s, Veloso, Yusril Ihza Mahendra, Subianto, Eduardo de Vega, Mico Clavano, , godsister, Josefiel Rivera, Clavano Organizations: Philippines AP, Philippine, Indonesia’s, Law, Human Rights, Indonesian, Department of Justice, Justice, Indonesia —, Roman Catholic, Department of Foreign Affairs, AP Philippine Locations: Manila, Philippines, Indonesia, Philippine, Australia, Brazil, France, Ghana, Nigeria, Pasay
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
Trump’s turn to bask in Musk’s reflected glory
  + stars: | 2024-11-20 | by ( Stephen Collinson | ) edition.cnn.com   time to read: +12 min
Musk, the Tesla and SpaceX visionary, has spent the last two weeks basking in Trump’s reflected glory at Mar-a-Lago. He’s around so much it’s almost like he’s family, and he even made it into a photo of Trump’s extended clan. Trump’s growing cultural cloutTrump’s visit to Musk’s launchpad was also the latest occasion since the election when he has inserted himself into high-profile photo-ops. The hit perhaps reflects Trump’s starry-eyed infatuation with Musk’s amazing array of spaceships and limitless ambition. With Musk, Trump might get more than he bargained for.
Persons: Donald Trump, Elon Musk, Robert F, Kennedy Jr, , , , Trump, Rushmore, Donald Jr, Texas Sen, Ted Cruz, Ronny Jackson, Musk, it’s, ” Trump, Greg Autry, Vivek Ramaswamy, Chandan Khanna, It’s, Kena Betancur, Joe Rogan, Theo Von, Musk’s launchpad, who’s, Anna Moneymaker, Kim Jong Un, MAGA, Elton John, DOGE, Andrew Harnik, Tim Pawlenty, CNN’s Erin Burnett, “ Trump, Volodymyr Zelensky, Emmanuel Macron, Kim Organizations: CNN, Elon, SpaceX, Texas, White, Trump, University of Central, of Government, Fox News, Tesla, UFC, Madison, Getty, YouTube, Barstool Sports, Republican Party, House Republicans, Hyatt, Minnesota Gov Locations: Texas, Washington, New York, Great State of Texas, He’s, Trump, Gulf of Mexico, United States, University of Central Florida, AFP, Novi , Michigan, Korean, Washington ,, Mar, Minnesota, Russia, Paris
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
We're selling 165 shares of Best Buy at roughly $86 each. Following Wednesday's trade, Jim Cramer's Charitable Trust will own 600 shares of BBY, decreasing its weighting to about 1.5% from 1.9%. BBY YTD mountain Best Buy YTD On Wednesday, however, we're selling some Best Buy shares for another reason: discipline. But we have to acknowledge that Best Buy competes with the big three on electronics. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Jim Cramer's, Donald Trump, There's, Jim Cramer, Jim Organizations: Federal Reserve, Walmart, Amazon, Costco —, TJX Companies, CNBC Locations: BBY, Williams, Sonoma
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
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
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
Here are Wednesday's biggest calls on Wall Street: Loop reiterates Nvidia as buy The firm said it's standing by the stock heading into earnings on Wednesday. "We see more upside potential and are moving up our target price to $51 from $30. Pivotal reiterates Netflix as buy Pivotal raised its price target on Netflix to a Street high $1,100 from $925. Goldman Sachs reiterates Microsoft as buy Goldman said it's standing by the stock following the company's Ignite Conference in Chicago on Tuesday. Citi downgrades Target to neutral from buy The firm downgraded the stock following earnings on Wednesday morning and says it's losing share.
Persons: NVDA, hasn't, Bernstein, Robinhood, HOOD, Tyson, Paul, Apple, Goldman Sachs, Goldman, Piper Sandler, Piper, Morgan Stanley, it's, DELL, qtr, Guggenheim, Oppenheimer, JPMorgan Chase, Cava Organizations: Nvidia, Deutsche Bank, Gaming, Leisure Properties, Deutsche, Netflix, Bank of America, Walmart, Microsoft, Adobe, JPMorgan, Dell, of America, Underperform, Trump, Barclays, Newell Brands, Citi, Target, TGT, HSBC Locations: Chicago
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