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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrump's trade policies will boost inbound investments & improve exports, says Hermes' Steve AuthSteve Auth, Federated Hermes equities CIO, joins CNBC's 'The Exchange' to discuss expectations for how Trump's trade policy will impact U.S. markets.
Persons: Hermes, Steve Auth Steve Auth Organizations: Hermes
AdvertisementT.J. Maxx is set to benefit from Trump's proposed tariffs on imports. T.J. Maxx could end up benefiting from Trump's suggested tariffs. Related Video Truth Social just brought Trump a $4 billion windfall, but experts aren't soldThis means more opportunities for T.J. Maxx to buy stock as excess inventory kicks around the market. For consumers forced to trade down or priced out of their usual retail spots, T.J. Maxx might present itself as the perfect option. AdvertisementTJX, the parent company of T.J. Maxx, Marshall's, and Home Goods, beat Wall Street's estimates in the third quarter, reporting revenue of $14.1 billion, up 6% from the previous year.
Persons: Maxx, Trump, aren't, Chris Walton, Lorraine Hutchinson, Neil Saunders Organizations: Target, Omni, Bank of America, Home Goods, GlobalData Locations: T.J, China
CNN —An explosives disposal team was sent to London’s Gatwick Airport and one of its terminals evacuated after a “suspected prohibited item” was found in luggage on Friday. “A security cordon is in place around the South Terminal at Gatwick Airport following discovery of a suspected prohibited item in luggage,” Sussex Police wrote in a statement posted on X just after midday local time (7 a.m. “Police were called at 8.20am this morning and, as a precaution, an EOD (Explosive Ordnance Disposal) team is being deployed,” the statement continued, advising the public to avoid the area. “We can confirm that the ‘loud bang’ reported in the area a short time ago was a controlled explosion carried out by officers,” it said in a statement posted on X on Friday morning. ET), it said, “Initial indications are that the item was a hoax device.
Persons: Stephanie Halasz, Zahid Mahmood Organizations: CNN, Gatwick Airport, Sussex Police, “ Police, , London’s Metropolitan Police
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEmpower's Marta Norton says 2025 will be a year of balance rather than conviction for the marketsMarta Norton, chief investment strategist at Empower Investments, joins CNBC's 'Squawk Box' to discuss her outlook on the economy, how to prepare your portfolio for 2025, and more.
Persons: Empower's Marta Norton, Marta Norton Organizations: Investments
Oil rises as intensifying Ukraine war increases supply risk
  + stars: | 2024-11-22 | by ( ) www.cnbc.com   time to read: +2 min
An aerial view of Phillips 66 oil refinery is seen in Linden, New Jersey, United States on March 8, 2022. Oil prices rose on Friday after Russia said it had fired a ballistic missile at Ukraine and warned of a broadening conflict, raising the prospect of tightening crude supplies. Russia is among the world's top crude oil producing countries, even with output declines following import bans tied to its invasion of Ukraine and supply curbs by producer group OPEC+. Russia this month said it produced about 9 million barrels of oil a day. Ukraine has used drones to target Russian oil infrastructure, including in June, when it used long-range attack drones to strike four Russian refineries.
Persons: Phillips, Vladimir Putin, Putin, Joe Biden, Jim Ritterbusch, meanwhile, Donald Trump's Organizations: Brent, . West Texas, British Storm Shadow, Ritterbusch, Associates Locations: Linden , New Jersey, United States, Russia, Ukraine, U.S, Britain, British, Ukrainian, Moscow, Florida, China
Microsoft President Brad Smith has urged Donald Trump to protect the US from Russian, Chinese, and Iranian cyber attacks. He said that Joe Biden's administration had made "tremendous progress" on the issue, but added that more steps were needed to dissuade and deter countries from "unleashing these cyber attacks." Smith's appeals come as the US faces an ongoing wave of cyber attacks that have targeted government agencies, election campaigns, and businesses. and in some cases even facilitated" such attacks, Smith told the FT. The review found that a Microsoft security breach by a Chinese-affiliated hacking group in 2023 was "preventable and should never have occurred."
Persons: Donald Trump, Cybersecurity, Smith, Brad Smith, Trump, Joe Biden's, Christopher Wray, cyberattacks, Satya Nadella Organizations: Microsoft, Financial Times, Cyber Safety Locations: Russia, China, Iran
Swedish battery maker Northvolt filed for Chapter 11 bankruptcy protection in the U.S., delivering a hard blow to Europe's electrification ambitions. A partner of major European automakers, Northvolt produces lithium-ion batteries for the blooming electric vehicle industry, which has recently been rocked by intensifying competition. "This decisive step will allow Northvolt to continue its mission to establish a homegrown, European industrial base for battery production," said Tom Johnstone, interim chairman of Northvolt's board. "Despite near-term challenges, this action to strengthen our capital structure will allow us to capture the continued market demand for vehicle electrification," he added. The Stockholm-based business has long been regarded as Europe's best hope of building a homegrown EV battery champion.
Persons: Northvolt, Tom Johnstone Organizations: EV Locations: Skelleftea, Sweden, Swedish, U.S, Stockholm
Iran said Friday it would begin operating new machines to enrich more uranium, which could bring it closer to having a weapon. The move came in response to a censure by the International Atomic Energy Agency for failing to cooperate fully with atomic inspectors. Iran will activate “a substantial number of advanced centrifuges of various models,” which are able to produce highly enriched nuclear fuel, read a joint statement from Iran’s Foreign Ministry and its Atomic Energy Organization. It condemned the censure as “politicized and destructive,” saying it undermined “the positive momentum” achieved between Iran and the I.A.E.A. Behrouz Kamalvandi, a spokesman for Iran’s Atomic Energy Organization, said Friday in an interview with media in Iran that the country began accelerating its enrichment right after the order was announced.
Persons: Behrouz, , Organizations: International Atomic Energy Agency, Iran’s Foreign Ministry, Atomic Energy Organization, Iran’s Atomic Energy Organization Locations: Iran, Tehran, Vienna
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarkets will finish strong this year after clearing several hurdles, says 3Fourteen's Warren PiesWarren Pies, 3Fourteen Research co-founder, joins 'Closing Bell' to discuss the market's recent uptrend, where Pies is starting to have concerns, and more.
Persons: Warren Organizations: 3Fourteen Research
AdvertisementDonald Trump's sentencing in his New York hush-money case has been officially put off. President-elect Donald Trump's scheduled sentencing in his New York criminal case will not move forward next week, a Manhattan judge ruled on Friday. The sentencing in the former and future president's hush-money case had been on the calendar for November 26. Merchan ordered that Trump's motion is due by December 2, and prosecutors should respond by December 9. "All of the sham lawfare attacks against President Trump are now destroyed and we are focused on Making America Great Again."
Persons: Donald Trump's, Juan Merchan, Merchan, Trump, Steven Cheung, Hunt, Stormy Daniels, Attorney Alvin Bragg, Bragg Organizations: Trump, White House, American People, Manhattan, Attorney Locations: New York, Manhattan
Gold prices were headed for their best week in a year on Friday, supported by safe-haven demand amid further escalations in the Russia-Ukraine war, while investors assessed the outlook for U.S. interest rate cuts. Gold prices were headed for their best week in a year on Friday, supported by safe-haven demand amid further escalations in the Russia-Ukraine war, while investors assessed the outlook for U.S. interest rate cuts. Bullion was up nearly 5% for the week so far, its best week since early October 2023. Gold's appeal is bolstered by geopolitical tensions, economic risks and a low interest rate environment. Meanwhile, the Chicago Federal Reserve President on Thursday reiterated his support for further U.S. interest rate cuts and his openness to slowing them down.
Persons: Bullion, Edward Meir, Bitcoin, Michelle Bowman, Nicholas Frappell Organizations: Trump, Chicago Federal, ABC Refinery Locations: Russia, Ukraine, Dnipro, U.S
A lottery is being held on Monday to determine who will be the 16 people who get to witness what happens next in the case of the Menendez Brothers, who are serving life sentences for murdering their parents in 1989. The drawing will take place between 8 a.m. and 9 a.m. Pacific time, in front of the Van Nuys Courthouse West, the Superior Court of Los Angeles County said. The seats for 16 people, in a county of more than 10 million residents, will be allocated just one hour before the status hearing is set to begin at 10:30 a.m. The court occasionally holds public lotteries “when seating is limited and public interest is high,” a court spokesperson said in an email. Erik and Lyle Menendez killed their parents, Jose and Kitty Menendez, more than 35 years ago in their Beverly Hills mansion.
Persons: Menendez, Van, Erik, Lyle Menendez, Kitty Menendez Organizations: Court of, Netflix Locations: Los Angeles, Angeles County, Beverly
This 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. Markets digest Nvidia earningsU.S. markets rose on Thursday after digesting Nvidia's earnings release. "If someone bought or if the Bluesky company went down, everything is open source." [PRO] Focus on Nvidia's BlackwellDespite Nvidia's revenue growth rising at a slower pace each subsequent quarter, analysts are still optimistic on the stock.
Persons: Donald Trump, Michael Novogratz, Trump's, Trump, Bluesky, Jay Graber, Nvidia's Blackwell, Blackwell, Colette Kress Organizations: CNBC, U.S . Department of Justice, Google, Chrome, JD Sports, Galaxy Digital, U.S . Federal Reserve, Elon, Nvidia Locations: British
Four big reasons to own gold into 2025
  + stars: | 2024-11-22 | by ( Sean Conlon | ) www.cnbc.com   time to read: +2 min
On Friday, spot gold rose about 1% amid increasing tensions between Russia and Ukraine . Secondly, the global interest rate-cutting cycle will also stretch into 2025, which will serve as another driver of higher gold prices. Moreover, a push among central banks to diversify their reserves away from the dollar could also provide some additional support for gold, he said. "We expect the de-dollarization trend among central banks and private asset managers to continue," Khandelwal said. "We estimate central banks bought around 900 metric tons of gold in 2024, and these volumes can be sustained well above the prior decade's average of around 325 metric tons a year."
Persons: Gold, Donald Trump's, Sagar Khandelwal, Khandelwal Organizations: UBS, UBS Global Wealth Management Locations: Russia, Ukraine
U.S. embassy in London reopens after suspicious 'hoax' item found
  + stars: | 2024-11-22 | by ( ) www.cnbc.com   time to read: +1 min
A police officer stands in front of the U.S. Embassy, amid ongoing investigation following an incident in London, Britain, November 22, 2024. British police said on Friday that a suspicious package left outside the U.S. embassy in London, which was blown up in a controlled explosion, was a hoax device, according to its initial indications. Police had earlier carried out a controlled explosion near the embassy building, a 12-storey purpose-built glass cube in Nine Elms, south London, and cordoned off some areas. "Initial indications are that the item was a hoax device," London's Metropolitan Police said. The embassy said it was back to normal business operations but that all public appointments for Friday had been cancelled.
Organizations: U.S . Embassy, U.S, Metropolitan Police Locations: London, Britain, Elms
I must have the address where the party is happening and the phone number of an adult there. So I set some ground rules for my kids to party and for me to have peace of mind. We find a compromiseI miss the days when I knew most of my kids' friends and their parents and we all looked out for each other's offspring. Rule number two is that they have to always keep their location on and share it with us on their devices. Rule number three, one we just added, is that we need the contact info of whoever they believe is their most responsible friend.
Persons: we've, I've, I'm, It's, didn't, We've, overdosing Locations: individuation, Naloxone
For the first 53 years of his life, Elon Musk barely spent any time with Donald J. Trump. Then, beginning on the night of Nov. 5, he spent basically no time without him. And so Mr. Musk, more than any other key player in the presidential transition, finds himself in a cram session to learn the courtier politics of Mr. Trump’s inner circle. For the world’s richest person — not known for his humility or patience — it is a social engineering challenge far trickier and less familiar than heavy manufacturing or rocket science. The answer, as discarded aides from Mr. Trump’s first term will tell you, may depend on Mr. Musk’s ability to placate the boss and keep a relatively low profile — but also to shiv a rival when the time comes.
Persons: Elon Musk, Donald J, , Trump’s, shiv Organizations: Trump Locations: Washington, Silicon
WASHINGTON (AP) — The Supreme Court on Friday stepped into a major legal fight over the $8 billion a year the federal government spends to subsidize phone and internet services in schools, libraries and rural areas, in a new test of federal regulatory power. The justices had previously denied two appeals from Consumer Research after federal appeals courts upheld the program. Circuit Court of Appeals, among the nation’s most conservative, ruled 9-7 that the method of funding is unconstitutional. The last time the Supreme Court invoked what is known as the non-delegation doctrine to strike down a federal law was in 1935. But several conservative justices have suggested they are open to breathing new life into the legal doctrine.
Persons: Biden, Trump Organizations: WASHINGTON, Universal Service Fund, Federal Communications Commission, Consumer Research, U.S, Circuit, FCC, Associated Press
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHoliday shopping season sales will continue into next quarter, says Tanger CEOStephen Yalof, Tanger CEO, talks the state of retail and the consumer ahead of the holidays.
Persons: Stephen Yalof
Chuck Scarborough, the broadcaster who for 50 years brought New Yorkers news of blizzards, financial collapses, terror attacks and assassinations, said Thursday that he would step down from his anchoring duties at WNBC. “The time has come to pass the torch,” Mr. Scarborough said at the end of the 6 p.m. newscast. “Fifty years, eight months and 17 days after I walked into the door here at the headquarters of the National Broadcasting Company, I will step away from this anchor desk.”Mr. Scarborough, 81, said his last broadcast as anchor will be on Dec. 12. He will not leave WNBC entirely, and will contribute periodically to special projects, NBC 4 New York said in a statement. Beginning with “Good evening, I’m Chuck Scarborough,” Mr. Scarborough became an institution in New York over the decades he delivered the news about everything from storms and financial crises to protests and plane crashes.
Persons: Chuck Scarborough, Mr, Scarborough, ” Mr, I’m Chuck Scarborough, John Lennon Organizations: New, WNBC, National Broadcasting Company, NBC Locations: Scarborough, York, New York
AdvertisementI drove an updated 2025 Porsche 911 Carrera T Cabriolet in Lugano Blue. The Carrera T is a lighter, more enthusiast-focused 911 trim and comes with a manual transmission. The Porsche 911 is an automotive icon in the truest sense of the word, a representative symbol of what a sports car should be. Only a few high-end models, like the track-focused GT3, are offered with a manual transmission. AdvertisementStarting in 2025, the manual transmission will not only be standard on the Carrera T, it will be the only transmission offered on he model.
Persons: Carrera Organizations: Porsche, Carrera Locations: Lugano Blue
CNN —For Donald Trump, every defeat is just the catalyst for his next battle. The Gaetz disaster suggests that despite his big election win, some laws of political gravity still apply to Trump. This may explain why two-and-a-half weeks into his transition, several of Trump’s Cabinet picks are embroiled in allegations of sexual misconduct, ethics or legal controversy. Like Gaetz, Hegseth was not prosecuted over the allegation and denies he did anything wrong. Plenty of presidents get a Cabinet pick knocked back and do just fine.
Persons: Donald Trump, , Matt Gaetz, – Trump, Trump, Pam Bondi, MAGA, Gaetz –, elect’s, Manu Raju, Pete Hegseth, Hegseth, Linda McMahon, McMahon, Robert F, Kennedy Jr, groped, Eliza Cooney, , Kennedy, he’d, , Cooney, “ I’m, he’s, Jean Carroll, didn’t, CNN’s Kristen Holmes, Gaetz, CNN’s Paula Reid, Sarah Ferris, Vance, Tulsi Gabbard, , Maine Sen, Susan Collins, North Carolina Sen, Thom Tillis, JD Vance, , Bondi, she’s Organizations: CNN, Department of Justice, Trump, DOJ, GOP, Cabinet, Former Fox News, Department of Defense, Trump Cabinet, Department of Education, Wrestling Entertainment, WWE, Department of Health, Human Services, USA, Fair, Democratic, Social, Capitol, Senate Republican, Trump University, Republican Locations: Washington, California, Iraq, Afghanistan, Manhattan, Gaetz, Maine, North Carolina, Ohio, Bondi
New York CNN —McDonald’s is hoping a new value menu will win back customers that have been put off by its higher prices. On Friday, the fast-food chain unveiled the “McValue” menu, a new, budget-friendly category that will roll out at US restaurants on January 7, 2025. Also on the McValue menu are more in-app offers, plus local food and drink deals organized by its franchisees. But the dollar menu proved relatively unpopular compared to the far more successful $5 value meal, which rolled out this summer. The McValue menu will replace what’s left of it.
Persons: New York CNN — McDonald’s, McDonald’s, We’ve, Joe Erlinger, what’s Organizations: New, New York CNN, McDonald’s Locations: New York, McDonald’s USA
As President-elect Donald J. Trump’s second administration takes shape, his plans for a signature campaign promise are becoming clear: mass deportations of undocumented immigrants, including new detention centers, workplace raids and possibly the mobilization of the military to aid in expulsions. Most economists are skeptical that this project will improve opportunities for working-class Americans. Mr. Trump and his allies don’t typically argue for purging undocumented immigrants on economic grounds; the case is more often about crimes committed by migrants, or simply a need to enforce the law. But there is an intellectual movement behind immigration restriction that seeks to reshape the relationship between employers and their sources of labor. According to this rising conservative faction, most closely identified with Vice President-elect JD Vance, cutting off the supply of vulnerable foreigners will force employers to seek out U.S.-born workers.
Persons: Donald J, Trump’s, Trump, don’t, JD Vance, Mr, Vance, who’ve, Organizations: The New York Times
It does not make New York stop dead like Buenos Aires does when River Plate plays Boca Juniors. It does not even match the historical enmity of Islanders-Rangers hockey at Madison Square Garden. But the New York City Football Club and the New York Red Bulls will meet in a playoff match for the first time on Saturday, and their fans — and Major League Soccer — can dream. “In due time this will be considered one of the great rivalries in the metro New York area. The winner of the quarterfinal match will play either Orlando or Atlanta in the Eastern Conference championship and then perhaps reach the M.L.S.
Persons: it’s, , Marc de Grandpré Organizations: Barcelona, Boca Juniors, Islanders, Rangers, Madison, New York City Football Club, New York Red Bulls, Major League Soccer, Red Bulls, , Orlando, Eastern Conference Locations: Madrid, New York, Buenos Aires, Atlanta
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