CNBC’s Jim Cramer on Friday walked investors through next week’s market action, honing in on a keynote speech from Nvidia’s Jensen Huang and earnings from retail names including Target, Ralph Lauren and TJX. He struck an optimistic tone about the market’s capacity to secure gains — as long as trade tensions don’t worsen between the U.S. and China.”Unless we get news of new hostilities in the trade war with China, I think this market’s propensity will still be to go higher, even though we are overbought,” he said. “And even with this late night credit rating downgrade of the U.S.…
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Tesla CEO Elon Musk speaks at an opening ceremony for Tesla China-made Model Y program in Shanghai on Jan. 7.Aly Song | ReutersIn a regulatory filing out Friday, Elon Musk-led automaker Tesla announced a change to its corporate bylaws that will limit shareholders ability to sue the company if investors believe the company’s board or executives committed any breach of fiduciary duties.The filing says the new bylaw went into effect as of May 15, and that Tesla has adopted “an ownership threshold requiring any shareholder or group of shareholders to hold shares of common stock sufficient to meet an ownership…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email”Fast Money” is America’s post-market show. Hosted by Melissa Lee and a roundtable of top traders, “Fast Money” breaks through the noise of the day, to bring you the actionable news that matters most to investors. Source link
Douglas Sacha | Moment | Getty ImagesForeign holdings of U.S. Treasuries soared to a record high in March, data from the Treasury Department showed on Friday, rising for a third straight month, as demand for U.S. government debt remained robust a few months after President Donald Trump took office.Holdings of U.S. Treasuries surged to $9.05 trillion in March, an all-time peak and up more than $233 billion from $8.81 trillion in February. Compared with a year earlier, Treasuries owned by foreigners rose nearly 12%.Some analysts said that trend could change in April as the Trump administration introduced a massive trade…
There’s a silver lining in the uncertain path of the economy and Federal Reserve rate policy: Some banks are in a holding pattern and paying rich yields for certificates of deposit. Since the end of March, the average rate on a CD has been relatively unchanged, according to Morgan Stanley analyst Betsy Graseck. While 10 of the 38 banks in the firm’s coverage have pulled back their highest offered CD rate since then, the reductions were largely offset by some institutions’ move to raise their yields, she said in a May 9 note. Still, rates are down considerably since last…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailNBC News and MSNBC medical contributor Dr. Kavita Patel joins ‘Fast Money’ to discuss Novo Nordisk after the company ousted its CEO on Friday, the competition among obesity drug makers, and more. Source link
A judge on Friday sentenced an Alabama man to 14 months in prison for his role in the January 2024 hack of the Securities and Exchange Commission’s X account, which was used to send out a tweet that briefly spiked the price of bitcoin by more than $1,000, the Justice Department said.The man, Eric Council Jr., pleaded guilty three months ago in U.S. District Court in Washington, D.C., to conspiracy to commit aggravated identity theft and access device fraud in connection with helping others who took control of the SEC’s account.The X account was used to falsely claim that the…
Nurphoto | Nurphoto | Getty ImagesApple users experienced problems with a range of the company’s payment features on Friday.Wallet and Apple Pay were the last payment issues to be resolved, according to the company’s support site. Earlier in the day, nearly 3,000 users reported issues with Apple Pay, according to Downdetector, a website that tracks outages.Some users were also experiencing problems with Apple Card and Apple Cash, but those outages were resolved earlier, the support site said.CNBC has reached out to Apple for comment. Source link
New regulatory filings showed that Warren Buffett ‘s Berkshire Hathaway doubled its position in beer-and-wine producer Constellation Brands last quarter. But at least one investor doesn’t agree with the “Oracle of Omaha’s” investment. Main Street Research’s Chief Investment Officer James Demmert joined CNBC’s ” Power Lunch ” on Friday to offer his take on two Buffett trades, alongside one other market mover. Here’s what he had to say during the show’s “Three-Stock Lunch” segment. Constellation Brands Berkshire doubled its stake in Constellation Brands last quarter, increasing the value of the position to around $2.2 billion. Shares of Constellation Brands, which…
Kent Nishimura | Los Angeles Times | Getty ImagesMoody’s Ratings slashed the United State’s credit rating down a notch to Aa1 from the highest triple A on Friday, citing the budgetary burden the government faces amid high interest rates. “This one-notch downgrade on our 21-notch rating scale reflects the increase over more than a decade in government debt and interest payment ratios to levels that are significantly higher than similarly rated sovereigns,” the ratings agency said in a statement.The U.S. is running a massive budget deficit as interest costs for Treasury debt continued to rise due to a combination of…
