Alexander Spatari | Moment | Getty ImagesSince ChatGPT’s big public debut already close to three years ago, Google has faced persistent questions about its decades-long hold over internet search traffic. That concern surfaced again in recent weeks after a top Apple executive alluded to a decline in search traffic on iPhone (where Google is the default search engine in the Safari browser) during court testimony. Amid a stock slide, Google was quick to issue a statement saying its search business was fine. In an earlier panic over ChatGPT, Google founder Sergey Brin spoke out to say he has full confidence…
Author: usaeverydaylife
Mike Novogratz’ crypto firm Galaxy Digital started trading on the Nasdaq Friday under the ticker GLXY. The stock opened at $23.50 per share on the U.S. exchange.Galaxy Digital, which has been traded on the Toronto Stock Exchange since 2020, shifted its shares to the Nasdaq through a direct listing — a move that follows a grueling, multi-year battle with U.S. regulators.Novogratz told CNBC’s “Squawk Box” Friday that Galaxy’s value now hinges on two high-growth areas: crypto and artificial intelligence.”These are the two most exciting growth areas in markets, right. AI and the infrastructure needed for AI to exist and crypto…
A woman walks in an aisle of a Walmart supermarket in Houston, Texas, on May 15, 2025. Ronaldo Schemidt | Afp | Getty ImagesU.S. consumers are becoming increasingly worried that tariffs will lead to higher inflation, according to a University of Michigan survey released Friday.The index of consumer sentiment dropped to 50.8, down from 52.2 in April, in the preliminary reading for May. That is the second-lowest reading on record, behind June 2022.The outlook for price changes also moved in the wrong direction. Year-ahead inflation expectations rose to 7.3% from 6.5% last month, while long-term inflation expectations ticked up to…
Hedge fund billionaire David Tepper trimmed his exposure to Chinese internet stocks in the first quarter as a trade war between the U.S. and China heated up, while adding a big bearish bet against an exchange-traded fund that rejects fossil fuel investments. Tepper, acting through his Appaloosa Management, had gone all in on China in the wake of Beijing’s pledge to boost its economy last fall. Now, he reduced his stakes in Alibaba , PDD and JD.com in the first quarter, according to a new 13F regulatory filing. The hedge fund also slashed its holding in iShares China Large-Cap ETF (FXI)…
Gold has cooled after a year-long rally that sent the commodity to a gain of 35%, but even with stocks in rebound mode, the market hedge has room to move higher, according to David Schassler, head of multi-asset solutions at fund manager Van Eck.”I couldn’t imagine a better backdrop for gold,” said Schassler on this week’s CNBC “ETF Edge.” The U.S. government has “huge debt, huge spending and huge chaos” Schassler said, adding that he doesn’t see that changing anytime soon. Hedge fund icon David Einhorn of Greenlight Capital echoed that sentiment on CNBC’s “Closing Bell” in an appearance Wednesday from the…
Founder and CEO at Nvidia Jensen Huang is interviewed by Chairman of the Milken Institute Michael Milken (not pictured) during the Milken Institute Global Conference 2025 in Beverly Hills, California, U.S., May 5, 2025. Mike Blake | ReutersNvidia said it won’t be sending GPU plans to China following a report that the artificial intelligence chipmaker is working on a research and development center in Shanghai in light of recent U.S. export curbs.”We are not sending any GPU designs to China to be modified to comply with export controls,” a spokesperson said in a statement to CNBC.The Financial Times was the…
China News Service | China News Service | Getty ImagesThe Trump administration’s trade truce with China that paused the steepest tariffs on Chinese goods isn’t offering much of a reprieve to many importers. Stacking of multiple tariff layers already implemented during the trade war has pushed up costs to import retail goods much higher than the 30% associated with the tentative agreement.”While companies are relieved to see a temporary pause from the incredibly high tariffs on goods from China, retailers are still facing very high tariffs that will have an impact on prices and supply,” said Josh Teitelbaum, senior counsel…
Shares of Birkenstock could be set up for gains even with President Donald Trump’s tariffs, according to Bank of America. On Friday, analyst Lorraine Hutchinson reiterated her buy rating on the footwear stock and raised her price target by $3 to $73, which implies more than 26% upside from Thursday’s closing price. This comes as U.S.-listed shares of the German sandal and shoe maker have soared nearly 10% this week. The company’s quarterly results on Thursday beat on the top and bottom lines for the fiscal second quarter, though it did reveal that it plans to increase prices globally to…
A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. High earners would get a series of tax cuts in the latest House reconciliation plans , yet many could also be subject to a little-noticed tax hike that could limit their charitable giving and other deductions, according to experts. The language the House Ways and Means Committee released this week extends the 2017 tax cuts for high earners, including the lower top rate of 37%. The…
A combination of file photos show U.S. President Donald Trump in the White House in Washington, DC, U.S. April 9, 2018 and former FBI Director James Comey on Capitol Hill in Washington, U.S., June 8, 2017.ReutersPresident Donald Trump said Friday that former FBI Director James Comey was “calling for the assassination of the president” in Comey’s since-deleted social media post that featured the numbers “8647.””He knew exactly what that meant,” Trump said in an interview with Fox News. “A child knows what that meant. If you’re the FBI director and you don’t know … that meant ‘assassination.’ “”Our country’s become…
