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☆ Formula 1 approves GM-Cadillac as an 11th team starting in 2026, bringing an American car maker on the grid
▼ + stars: | 2024-11-25 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Sahil_Hs.Jpg | Sahil Kapur | ) www.nbcnews.com time to read: +5 min

Formula 1 announced Monday that it has approved the entry of GM and Cadillac as a new team on the grid, bringing a storied American car maker into the pinnacle of motorsport. But the added promise from GM to become a “works” team — building both a car and a power unit — led to a breakthrough. It will be the first time since 2016 that F1 has had more than 10 teams on the grid. One of those existing teams, Haas F1, is owned by American Gene Haas with headquarters in North Carolina. The move sets up a clash of two American car giants, GM and Ford, in Formula 1.

Persons: “, Andretti, we’re, Mark Reuss, ” Mario Andretti, I’m, Mark Walter, Dan Towriss, ” Andretti, ”, Daniel Francis, Michael Andretti, Haas, Gene Haas, Liam Lawson, Valtteri, ” Bottas, Ford, Red Bull, “ Ford, Red, Christian Horner Organizations: GM, Cadillac, Andretti Global, Las Vegas, Prix, General Motors, FIA, Liberty Media, TWG, Andretti, Formula, ”, “, Washington , D.C, Justice Department, NYU School of Law, Las, NBC News, Sauber, Ford, Red Bull, Sky Sports Locations: American, Washington ,, U.S, North Carolina, Las Vegas

☆ Jon Chu shares updates on a long-awaited 'Crazy Rich Asians' sequel
▼ + stars: | 2024-11-25 | by ( Kaitlyn Schwanemann | Kaitlyn Schwanemann Is An Intern For Nbc News. | ) www.nbcnews.com time to read: +2 min

Jon M. Chu, fresh off the set of the blockbuster “Wicked,” shared details about the potential “Crazy Rich Asians” sequel. “There’s too much on the line for everybody.”Shortly after the 2018 release of “Crazy Rich Asians,” a sequel to the romantic comedy began moving forward. “Crazy Rich Asians” grossed $35 million within five days of its premiere, and it was the first major studio film to feature an all-Asian cast in 25 years. “Crazy Rich Asians” skyrocketed several Asian American actors to stardom, including Constance Wu, Awkwafina, Henry Golding and Gemma Chan. Warner Bros. Theatre Ventures revealed in April that the “Crazy Rich Asians” musical, which will mark Chu’s Broadway debut, was in the works.

Persons: Jon M, Chu, ”, ” Chu, “, Rich, Constance Wu, Awkwafina, Henry Golding, Gemma Chan, Michelle Yeoh, Kevin Kwan, Rachel, Wu, Nick, Golding, “ Rich Organizations: Rich, Rich Asians ”, Hollywood, Crazy Rich Asians, Warner Bros, Singapore ., Warner Bros . Theatre Ventures Locations: American, Singapore

☆ California Gov. Gavin Newsom says state will provide rebates if Trump removes tax credit for electric vehicles
▼ + stars: | 2024-11-25 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Mirna-Alsharif-Byline-Jm.Jpg | Mirna Alsharif | ) www.nbcnews.com time to read: +2 min

Gavin Newsom said the state will provide rebates to residents if President-elect Donald Trump's incoming administration does away with a federal tax credit for electric vehicles. "We will intervene if the Trump Administration eliminates the federal tax credit, doubling down on our commitment to clean air and green jobs in California," Newsom said. The federal rebates on new and used electric vehicles were implemented in the Inflation Reduction Act that President Joe Biden signed into law in 2022. Those potential changes could limit the federal rebates, including by reducing the amount of money available or limiting who is eligible. This isn't the first time California will be taking action against the Trump's administration concerning clean transportation legislation.

Persons: Gavin Newsom, Donald, Newsom, Joe Biden Organizations: Trump Administration, Ford, General Motors, Trump, Associated Press, Los Angeles Times Locations: California, United States

A federal judge on Monday is set to review the sale of conspiracy theorist Alex Jones' media company to satirical publication The Onion after a pro-Jones bidder who offered twice as much cash challenged the transaction. Collins also wrote that the Onion plans to relaunch Infowars as "the dumbest website on the internet." Infowars was briefly shut down after the sale was announced before it resumed operating with Jones, who claimed the site was "hijacked." X Corp. is presumed to be an interested party because Jones uses X to broadcast his show and the case involves the potential transfer of Jones' X handle in the sale. Jones described the auction process as "fraudulent," but told his audience that regardless of what happens with Infowars, he won't be silenced.

Persons: Alex Jones, Jones, Sandy, Christopher Murray, Christopher Lopez, Murray, Sandy Hook, Walter Cicack, Chris Mattei, Ben Collins —, NBC News —, Collins, Samuel Rigelhaupt, Infowars, —, Elon Musk, Donald Trump Organizations: Sandy Hook Elementary, Free Speech Systems, First United American Companies, First American United Companies, NBC News, AP, Global, Musk's X Corp, X Corp, United, United American Companies Locations: Newtown , Connecticut, Texas, Houston, Chicago, United American

☆ Flight attendants share secrets to surviving holiday travel
▼ + stars: | 2024-11-25 | by ( Francesca Street | ) edition.cnn.com time to read: +28 min

But it doesn’t have to, just ask the world’s flight attendants. “It’s important for flight attendants to know who is sitting in what seats,” she says. And during those quieter moments, he says flight attendants “honestly love to talk to passengers.”We love when people come back and talk to us. Liz SimmonsFor flight attendants, interacting with the occasional famous face is just part of the job. While gifts are thoughtful, flight attendants don’t expect them, and especially not extravagant ones.

Persons: anyone’s, Hunter Smith, Lihas, Liz Simmons, you’ve, Elijah Nouvelage, Smith, “, ”, you’re, Kamil Krzaczynski, Simmons, Mike Blake, FlightRadar, “ It’s, you've, Joshua Lott, don’t, Kent Nishimura, “ I’m, who’s, they’ve, it’s, — Simmons, ” Smith, there’s, — isn’t, ” Simmons, “ It’ll, Alexander Spatari, ” I’ve, who’ve, lister, I’ve, she’s, everyone’s, Liz Simmons “, ’ Simmons, Kevin Lamarque, “ I’ve, They’re Organizations: CNN, Reuters, Getty, Facebook, Los Angeles Times, Netflix, Hallmark, Hollywood, “, Disney Locations: Florida, AFP, earshot, Greece, You’re, London, New York, “

Will Trump’s former defense lawyer protect the Justice Department from Trump? Justice Department attorneys now hope that Trump’s pick for the critical No. 2 position at the department — Todd Blanche, the president-elect’s defense lawyer — can help protect the department’s career civil servants from Trump. Blanche served as Trump’s lead criminal defense lawyer in the Stormy Daniels hush money case brought by Manhattan District Attorney Alvin Bragg. Incoming district attorney Nathan Hochman, who is set to take office Dec. 2, has said he needs to review the case before he makes a decision.

Persons: Todd Blanche won’t, Menendez, Will Trump’s, Mark Peterson, Matt Gaetz, Donald Trump’s, Trump, Pam Bondi, Todd Blanche, —, Blanche, Daniels, Attorney Alvin Bragg, Blanche won’t, he’s, Read, Republican Sen, Bill Hagerty, ’, Ted Soqui, Ted Erik, Lyle Menendez’s, Kitty Menendez, George Gascón, Nathan Hochman, Ding Liren, Dommaraju, Leon Watson, Magnus Carlsen, Ryan Sun, AP Saquon Barkley, Greg Rosenstein, artment of, Fr e Organizations: Trump, Department, Justice Department, Manhattan, Attorney, DOJ, of, Republican, Cabinet, Trump’s Cabinet, Los Angeles District, Beverly Hills, Incoming, NBC News, Chess, AP, Eagles, ams, Fr Locations: Florida, Trump, Southern, York, Beverly, India, China, Singapore

The Congressional Black Caucus will boast a record 62 members for the next session of Congress, contributing toward the highest number of Black federal lawmakers in history, according to the organization. In all, 67 Black people will serve in Congress. Five Republican members are not listed as members of the CBC. According to its website, members of the CBC currently represent 120 million people in the U.S. and 41% of Black Americans. “Despite the Republicans having the House and the Senate” next session, she said, “you feel good about what these historic number of Black Congress members can do in terms of helping influence what comes down the pipe.”Rolling Sea Action Fund is a hybrid PAC that raises money for Black congressional candidates as well as for ads and other election expenses.

Persons: Kamala Harris, Gregory Meeks, Donald Trump, “ We’ve, ” Meeks, “, Meeks, Trump, ”, you’ve, Trump’s, Mehmet Oz, Linda McMahon, “ We’re, Niccara Campbell Wallace, Wallace Organizations: Congressional, Five Republican, CBC, House Foreign Affairs, NBC News, Congressional Black Caucus, Americans, Congress ’, Trump, NBC, Congress, Republicans, Senate Locations: U.S

☆ Saquon Barkley strengthens MVP candidacy, plus Cowboys and Vikings survive late comeback attempts
▼ + stars: | 2024-11-25 | by ( Andrew Greif | Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Greg_Rosenstein.Jpg | ) www.nbcnews.com time to read: +3 min

Before this NFL season began, a major concern surrounding the Philadelphia Eagles was how their new running back would play behind a new-look offensive line. It was the most individual rushing yards in a single game since 2009, and pushed Barkley to 1,392 yards on the season, a new career-high set in only 11 games. Already the NFL’s leader in yards from scrimmage, Barkley pushed his lead in that category by also catching four passes for 47 yards. Against the Rams, Philadelphia rushed for 314. I'm ready to go out there and perform at a high level and get ready for next week."

Persons: Saquon Barkley, Barkley, Jalen, Jason Kelce Organizations: Philadelphia Eagles, Eagles, Los Angeles Rams, New York Giants, NFC East, Washington, NBC, Rams, NFC West, Bowl, of Famer, Sunday, Philadelphia, Los, Cowboys, Packers, 49ers Locations: Philadelphia, Los Angeles

Republican Sen. Bill Hagerty suggested Sunday that Americans don't care about traditional FBI background checks for President-elect Donald Trump's Cabinet picks as Democrats call for deeper vetting of executive branch nominees. An FBI background check, usually used during confirmation proceedings, would likely look into allegations such as that one. But Democratic lawmakers have argued that background checks for potential nominees are critical tools when vetting potential high-level appointees. “We require these background checks of DEA agents — drug enforcement agents. Many Republican lawmakers have agreed, rejecting the notion of doing away with FBI background checks.

Persons: Sen, Bill Hagerty, Donald Trump's, ”, Pete Hegseth, Hagerty, Jon Karl, Trump, ” Hagerty, Hegseth, Timothy Parlatore, hasn’t, Amy Klobuchar, ” Klobuchar, Trump's, Kevin Cramer, Susan Collins, Mike Rounds, “, ” Sen, Lisa Murkowski, it’s, ” Murkowski, Don Beyer, Ted Lieu, Donald Trump, Tammy Duckworth, Dana Bash, Tulsi Gabbard, Gabbard, Bashar al, Assad, ” Duckworth, Bash, Markwayne Mullin, Tammy, ” Mullin, Eric Schmitt, ” Schmitt, Adam Schiff, don’t, Kristen Welker, Schiff, Matt Gaetz's, he’s, Matt Gaetz, Robert F, Kennedy, Jr Organizations: Fox News, FBI, Department of Defense, Republican, Democratic, Office, CNN, United, United States Army, Trump Cabinet, Department of Health, Human Services, NBC News Locations: California, United States, Maine, Alaska, Russian, Hawaii, Russia, Ukraine, U.S

After announcing he would not return to Congress, Matt Gaetz appears to be trying out a new career option: creating personalized videos for his fans on Cameo. Gaetz, a former Florida representative, joined the platform Friday, a day after he withdrew his name from consideration to serve as President-elect Donald Trump’s attorney general amid sexual misconduct allegations. There, he’s been doling out paid holiday wishes, marriage congratulations and career pep talks. “Trump nominated me to be US Attorney General (that didn’t work out). “Look, I know your politics and mine may not align specifically, but you know, our career trajectories might not be either.

Persons: Matt Gaetz, Donald Trump’s, he’s, ”, “ Trump, Kevin McCarthy, Gaetz, Vance, Justice Department —, Gaetz’s, Cameo, It’s, ” Gaetz, Trump, MAGA, … Kamala Harris, George Santos, Santos, Rod Blagojevich, Rudy Giuliani, Giuliani, Michael Cohen, Sarah Palin, Corey Lewandowski, Tomi Lahren Organizations: Trump, Justice Department, Republican, Illinois, New, New York City, Fox News Locations: Florida, United States, New York, Georgia, Alaska

☆ 'Wicked' broke 3 box-office records in its opening weekend. Here's how it compares to other blockbuster musicals.
▼ + stars: | 2024-11-25 | by ( Ayomikun Adekaiyero | ) www.businessinsider.com time to read: +4 min

It grossed $164 million, the biggest opening weekend for a film based on a Broadway show. Here's all the records "Wicked" broke and how it compares to other blockbuster musicals. "Wicked" broke three records topping the box office this weekend with $164 million in ticket sales and surpassing its blockbuster rival "Gladiator II." "Wicked" broke the record for the biggest opening weekend for a film based on a Broadway adaptation domestically and globally. Walt Disney StudiosWith "Moana 2" premiering this week, "Wicked" has a new competitor at the box office going into Thanksgiving weekend.

Persons: Disney, Rob Mitchell, Mia, Mitchell, Ariana Grande's, Nielsen, Moana, Paul Dergarabedian Organizations: cinema's, Walt Disney Studios, Gower, Analytics, Disney, Office MoJo

☆ An inside look at Treasury secretary nominee Scott Bessent's research process and 'competitive edge'
▼ + stars: | 2024-11-25 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +3 min

AdvertisementA 2017 presentation for macro investor Scott Bessent's hedge fund explains his research process and "edge." His firm, Key Square Capital, struggled to generate returns despite its strong pedigree. Bessent — the former righthand man for billionaire George Soros and now the nominee for Treasury secretary by President-elect Donald Trump — saw billions of dollars leave his firm, Key Square Capital, after its 2016 launch, Reuters reported. It's not clear if there have been any changes to the investment process in the seven years since the presentation was created. Advertisement"Key Square views its research process as a think tank that is bolted on to disciplined trading and risk management," one slide reads.

Persons: Scott Bessent's, Donald Trump, Bessent, George Soros, Donald Trump —, Soros, Jim Chanos Organizations: Key Square Capital, Reuters, Business, Associates, Key

☆ YouTube's late CEO wrote a blog post about living with cancer weeks before her death. This was her 'most important lesson.'
▼ + stars: | 2024-11-25 | by ( Ana Altchek | Julia Pugachevsky | ) www.businessinsider.com time to read: +5 min

AdvertisementLate YouTube CEO Susan Wojcicki wrote a blog post weeks before her death about her cancer diagnosis. She was diagnosed in late 2022, with non-small cell lung cancer, the most common form of lung cancer. Women, whose highest cause of cancer death is lung cancer (as opposed to breast cancer) might also be unaware of the risk factors. Lung cancer research is underfundedSinghi said Wojcicki's blog post is an important rallying cry. It's "wild" to him that lung cancer is so under-researched, given that it's also the biggest cause of cancer death worldwide.

Persons: Susan Wojcicki, Wojcicki, Katie Williams, Dennis Troper, Larry Page, Sergey Brin, Eric Singhi, Singhi, Lung, it's Organizations: YouTube, Lung Cancer, Cancer, Environmental Defense Fund, American Lung Association

☆ Influencers are using AI 'women' to lead people to OnlyFans and Fanvue — where more AI awaits
▼ + stars: | 2024-11-25 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +4 min

And some people are selling courses for $220 on how to make your own lucrative AI adult creator. The articles said a crop of new Instagram influencers had amassed large followings and even secured brand deals. Some of these AI influencers, like Lil Miquela, are a sort of artsy commentary on the nature of influencing or something conceptually interesting. AdvertisementOne of the most popular AI influencers had a link in her bio to a profile on Fanvue, an OnlyFans competitor. One person is selling a course for $220 on how to make money with AI adult influencers.

Persons: Fanvue, influencers, Lil Miquela, —, Insider's Marta Biino, I'm Organizations: Media Locations: Fanvue

☆ Russia could give China submarine tech that would cut into US undersea dominance, US admiral says
▼ + stars: | 2024-11-25 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +3 min

AdvertisementRussia could hand China technology that would cut into US undersea dominance, a US admiral said. At a security forum, he said exchanges among Russia, Iran, North Korea, and China have intensified. Adm. Samuel Paparo, the US Navy's top commander in the Indo-Pacific, said that Russia will likely give submarine technology to China that would undercut the US' undersea dominance. According to Paparo, Russia is not only exchanging military capability and technology with China but also with North Korea and Iran. In return, according to Paparo, Russia would likely provide missile and submarine technology to the North Korean state.

Persons: Adm, Samuel Paparo, Paparo, Kurt Campbell, Kim Jong Un, Vladimir Putin Organizations: Halifax Security Forum, US Navy, North Locations: Russia, China, North Korea, Iran, Halifax, People's Republic of China, Taiwan, South China, Philippines, Japan, South Korea, Paparo, Korea, Ukraine, Korean, Russian, Pyongyang, Moscow

☆ Intel and Commerce Department close to finalizing roughly $8 billion CHIPS Act grant, source says
▼ + stars: | 2024-11-25 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

Chipmaker Intel and the CHIPS Act Office are close to finalizing a deal which would award the company a roughly $8 billion grant, according to a person familiar with the matter, as the Biden administration moves to dole out funds before President-elect Donald Trump's inauguration. The U.S. awarded Taiwan Semiconductor Manufacturing Co. a $6.6 billion grant earlier this month, raising investor expectations that cash funding for Intel would come soon. Intel has benefited from CHIPS Act tax breaks but has not yet received cash awards, something which Intel CEO Pat Gelsinger has expressed dissatisfaction with. "We're frustrated that hasn't moved faster," Gelsinger told CNBC in October, referring to the CHIPS Act grants. U.S. House Speaker Mike Johnson had previously said he might look to repeal the bipartisan CHIPS Act, but he then walked back those comments.

Persons: Biden, Donald Trump's, Intel's, Pat Gelsinger, hasn't, Gelsinger, They've, Mike Johnson, acquirers Organizations: Intel, Commerce Department, Department of Defense, Street Journal, The New York Times, U.S, Taiwan Semiconductor Manufacturing, CNBC, Qualcomm Locations: Intel's

☆ Here are Monday's biggest analyst calls: Nvidia, Apple, Tesla, Palantir, Robinhood, MicroStrategy, Target, Amazon & more
▼ + stars: | 2024-11-25 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Monday's biggest calls on Wall Street: Bernstein reiterates MicroStrategy as outperform The firm raised its price target on the stock to $600 per share from $290. " Morgan Stanley upgrades Banco Santander to overweight from equal weight The firm said the bank has a "resilient regional footprint." Morgan Stanley upgrades Robinhood to overweight from equal weight The firm said Robinhood is a Trump election beneficiary. Morgan Stanley upgrades KinderCare to overweight from equal weight Morgan Stanley said shares are compelling at current levels for the daycare company. Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's survey checks "reinforce [the] multi-year iPhone upgrade thesis."

Persons: Bernstein, MicroStrategy, Morgan Stanley, Oppenheimer, Robinhood, Trump, HOOD, it's, Telsey, Apple, Goldman Sachs, Berkley, it's bullish, Tesla, TD Cowen, D.A, Davidson, Rosenblatt, Wedbush, Palantir, PLTR, Wolfe, Jones Lang Lasalle Organizations: Banco Santander, Caixabank, ING, Citi, U.S, Bancorp, UBS, Arm Holdings, BMO, Apple Intelligence, CVS, Bank of America, Shoals Technologies, Procter, Gamble, China, China EV, Nvidia, FedEx Locations: Santander, China

☆ How to invest $500,000 for the year ahead, according to 2 wealth managers
▼ + stars: | 2024-11-25 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

As investors position their portfolios for 2025, wealth managers are advocating for a diversified approach with selective bets on undervalued sectors. CNBC Pro spoke to Ollie Clark, deputy head of research at WH Ireland, and Mark Preskett, senior portfolio manager at Morningstar Wealth, about how investors with roughly $500,000 could look to allocate their portfolio. Clark expects the growth in artificial intelligence to lead to another year of bumper returns. Investors with portfolios already geared toward a traditional 60/40 stock-bond portfolio mix can expect some, if limited, relief in the future, according to Clark. The Morningstar Wealth portfolio manager said investors could gain exposure to such companies through the Franklin FTSE South Korea ETF .

Persons: Ollie Clark, Mark Preskett, Clark, Donald Trump, Morningstar, Preskett, WH Ireland's Clark Organizations: CNBC, WH Ireland, Morningstar Wealth, Clark, Federal Reserve, Trump, South, SK Hynix, Samsung, Franklin FTSE, Metals Mining, HG Locations: U.S, South Korea, Franklin FTSE South Korea

☆ This CEO says there's 'not much value' to job interviews. He prefers testing candidates instead.
▼ + stars: | 2024-11-25 | by ( Jaures Yip | ) www.businessinsider.com time to read: +4 min

AdvertisementDatabricks CEO Ali Ghodsi isn't the biggest fan of interviews and "gotcha questions." Ghodsi prefers to analyze candidates by testing them with a real challenge within the company. "I don't believe in interviews because I think some people interview well, and they might not be good at all," he said. "And some people interview really poorly, but they might be excellent." AdvertisementGhodsi is not the only executive who finds standard interview questions to be a lacking litmus test for potential hires.

Persons: Ali Ghodsi, Ghodsi, JP Morgan, Carla Hassan, Ali Ghodsi doesn't, Logan Bartlett, Jensen Huang, Huang Organizations: Nvidia

☆ Analyst Dan Clifton breaks down why the stock market rallied the way it did after the election
▼ + stars: | 2024-11-25 | by ( Fred Imbert | ) www.cnbc.com time to read: +1 min

There's one key reason the U.S. stock market rallied after this month's presidential election, and it wasn't necessarily because of the outcome, according to Dan Clifton of Strategas. "What we saw was that the market was pricing in a 50-50 election. [Investors] didn't know who was going to win," Clifton, the firm's head of Washington policy research, told CNBC's Dominic Chu in this special Pro Talks discussion available to all readers. Instead, "we had it very clear … we knew [President-elect Donald Trump] was going to win," he said. (Pro subscribers can watch the full interview here .)

Persons: Dan Clifton, Clifton, CNBC's Dominic Chu, Donald Trump, Trump, gridlock — Organizations: CNBC, Republicans, Senate, CNBC Pro Locations: Strategas, Washington

☆ The Philippines' vice president has publicly threatened to assassinate her boss and his wife
▼ + stars: | 2024-11-25 | by ( Matthew Loh | ) www.businessinsider.com time to read: +6 min

Vice President Sara Duterte said on Saturday that she'd spoken to a hitman to kill her boss and his wife. Philippine Vice President Sara Duterte openly threatened on Saturday to assassinate the country's president, marking the deepest fracture yet in an alliance they once formed for the 2022 election. AdvertisementEduardo Año, national security advisor to the president, added that authorities considered Duterte's threat a "matter of national security." But she also blasted the national security council, saying that its responsibilities related to the safety of the country, not a vice president's remarks about a president. AdvertisementA partnership doomed from the startIn the Philippines, the vice president and president are elected separately and don't necessarily hail from the same party or ideology, though Duterte and Marcos positioned themselves as running mates.

Persons: Sara Duterte, Duterte, I've, Ferdinand, Bong Bong, Marcos, you'll, BBM, Liza Araneta, Martin Romualdez, Eduardo Año, Duterte's, Rodrigo Duterte, Ferdinand Marcos Sr, Ronald Holmes, gunning, —, Jorge Tigno, that's, Holmes, Tigno Organizations: of Representatives, voters, De La Salle University, of Education, Lawmakers, University of, Duterte, Senate, Business Locations: Philippines, Manila, China, Southeast

☆ Deutsche Bank sees the S&P 500 hitting 7,000 in 2025 on the back of rising risk appetite
▼ + stars: | 2024-11-25 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Binky Chadha, Deutsche Bank chief global strategist, set a year-end 2025 target for the S & P 500 of 7000, which would translate into a 17% gain from current levels. "We see S & P 500 buybacks rising from an annual run rate of $1.1 trillion currently to about $1.3 trillion next year, rising in line with earnings. .SPX YTD mountain S & P 500 The S & P 500 is looking to wrap up a strong 2024 with a bang, thanks to optimism toward President-elect Donald Trump 's market-friendly policies. For 2025, Deutsche Bank sees stronger growth in the U.S. on the back of potential tax cuts and a deregulation push under the incoming Trump administration. Deutsche Bank is not the first Wall Street firm to release a rosy equity outlook after the presidential election.

Persons: Binky, Chadha, Donald Trump, Trump, Goldman Sachs Organizations: Deutsche Bank, Fed, UBS Locations: U.S

☆ Gold drops over 1% on profit-booking, Trump's Treasury Secretary pick
▼ + stars: | 2024-11-25 | by ( ) www.cnbc.com time to read: +2 min

Gold bar bullions ingot, selective focus, crisis safe haven for investment or reserve for country economics. Gold prices dropped over 1% on Monday, weighed down by profit-taking after a five-session rally, with further pressure from the announcement of fund manager Scott Bessent as the next U.S. Treasury Secretary. Spot gold fell 1.52% to $2,671.29 per ounce as of 0501 GMT, while U.S. gold futures shed 1.5% to $2,672.90. Gold's five-day rally pauses due to some profit-taking and Trump's pick of Scott Bessent as U.S. Treasury Secretary, hinting at tempered use of tariffs and easing U.S.-China trade uncertainty, said IG market strategist Yeap Jun Rong. Less dovish U.S. policy signals and potential inflation surprises could support a December rate hold, slowing rate cut prospects can be seen weighing on gold prices, Rong said.

Persons: Scott Bessent, Yeap Jun Rong, Donald Trump, Rong Organizations: Treasury, Federal, Traders Locations: China, U.S, Israel, Beirut, Tel Aviv

☆ Bitcoin's march to $100,000 stalls. Here's what's keeping it below the milestone
▼ + stars: | 2024-11-25 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

Bitcoin hit a new record high last week, with prices climbing above $99,000 for the first time. CNBC asked analysts for their take on why bitcoin has so far failed to breach the widely-watched $100,000 mark. "There's a ton of leverage in the system right now," Novogratz, a longtime crypto investor, told CNBC's "Squawk Box" on Friday. Novogratz added that he's advocating investors buy "straight bitcoin" rather than bitcoin-exposed plays, such as MicroStrategy which owns a huge, multi-billion-dollar pile of bitcoin in its corporate treasury reserves. Deutsche Bank's Laboure said she thinks the idea of a U.S. national bitcoin is still far off, practically speaking.

Persons: Fernando Gutierrez, Donald Trump, Trump's, hasn't, bitcoin, Andre Dragosch, Bitwise, Bitcoin, Dragosch, Novogratz, CNBC's, David Morrison, Morrison, Marion Laboure, Trump, Gary Gensler —, Deutsche Bank's Laboure, Laboure Organizations: Getty, CNBC, Galaxy Digital, Trade, Deutsche Bank, bitcoin, Trump, Securities, Exchange, Deutsche Locations: Juarez, Europe, U.S

☆ Uber and Lyft drivers say they're earning less — so some are starting their own ride services
▼ + stars: | 2024-11-25 | by ( Alex Bitter | ) www.businessinsider.com time to read: +6 min

AdvertisementSome Uber and Lyft drivers are starting businesses driving people they meet through the apps. Uber and Lyft drivers can make as little as $3 per ride, pushing some to look for alternatives. Brian is one of four drivers who told BI about starting his own business offering rides outside Uber and Lyft. When BI asked whether drivers are allowed to pitch their own businesses while on a trip for Uber, an Uber spokesperson said the app's drivers are independent contractors. The spokesperson also referenced company statistics showing that Uber drivers make more than $30 per hour "while active on the app."

Persons: Brian, Lyft, Uber, Torsten Kunert, YouTuber, Kunert, Phil Organizations: Business, Uber, Rideshare Services Locations: California, Ontario, Canada, San Diego

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