Investors hoping that reduced trade tensions could push stocks to new heights will most likely be left disappointed, according to JPMorgan. Uncertainty from President Donald Trump’s tariff policies decimated the stock market’s performance to start the year. The S & P 500 tumbled 18.9% between its all-time high in February and its closing low in early April. But all three major averages have bounced back from those losses since April 2, when the president announced his reciprocal tariffs on the U.S.’s largest trading partners, followed by a 90-day suspension the following week. The S & P 500 has climbed 18.5%…
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U.S. Secretary of the Treasury Scott Bessent shakes hands with Chinese Vice Premier He Lifeng during the bilateral meeting between the U.S. and China, in Geneva, Switzerland, on May 11, 2025.Keystone/eda/martial Trezzini | Via ReutersChina has temporarily paused export restrictions targeting 28 American companies on the heels of the trade truce Beijing reached with the Trump administration over the weekend in Switzerland.But China is continuing to block exports from that country of seven rare earth metals to the United States, whose defense, energy and automotive industries rely on those metals.According to the Geneva trade statement, China has agreed to “adopt all necessary…
A Youtube podcast microphone is seen at the Variety Podcasting Brunch Presented By YouTube at Austin Proper Hotel in Austin, Texas, on March 8, 2025.Mat Hayward | Variety | Getty ImagesYouTube is solidifying its place in podcasts.The company on Thursday announced the launch of a weekly top podcast shows chart, rivaling those from Spotify and Apple.Podcasts such as “The Joe Rogan Experience,” “Kill Tony” and “Rotten Mango” currently top the YouTube chart.Alphabet-owned YouTube said podcasts earn more than one billion monthly active views. The platform is the most preferred service for listening to podcasts, beating out Spotify and Apple, Edison…
Check out the companies making headlines in midday trading. Walmart — Shares of the big-box retailer dropped 1% after Walmart fell slightly short of first-quarter sales expectations and management warned that consumers could see higher prices caused by tariffs. Walmart reported revenue of $165.61 billion, while the consensus forecast was $165.84 billion, per LSEG. The retailer earned 61 cents per share, after adjustments, beating an LSEG estimate of 58 per share. Dick’s Sporting Goods — The sporting goods retailer tumbled 14% on the announcement that it would buy rival Foot Locker for $2.4 billion , in a deal expected to close in the…
Dick’s Sporting Goods said Thursday it plans to acquire rival Foot Locker as it looks to expand its international presence, win over a new set of consumers and corner the Nike sneaker market. Under the terms of the agreement, Dick’s will use a combination of cash on hand and new debt to acquire Foot Locker for $2.4 billion. Foot Locker shareholders can receive either $24 in cash – a roughly 66% premium of Foot Locker’s average share price over the last 60 days – or 0.1168 shares of Dick’s stock.Foot Locker CEO Mary Dillon has been undertaking an ambitious turnaround at…
Apple may have only one way out of the rock and a hard place it finds itself in during President Donald Trump’s second administration, CNBC’s Jim Cramer said Thursday. “Unless [Apple CEO Tim Cook] builds some plant here to make phones, I don’t think it is going to end,” Cramer said on “Squawk on the Street,” referring to pressure from Trump. Cramer’s comments Thursday came after Trump publicly criticized Apple’s plans to move more iPhone production to India , where tariffs are expected to be much lower than in China. Currently, about 90% of iPhones are assembled in China, according…
This report is from this week’s CNBC’s “Inside India” newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big businesses behind its meteoric rise. Like what you see? You can subscribe here.The big storyIndian Border Security Force (BSF) soldiers stand guard at the entrance of the India-Pakistan Wagah border post, about 35kms from Amritsar on April 24, 2025. India took a raft of punitive diplomatic measures against Pakistan on April 23, accusing Islamabad of supporting “cross-border terrorism” after a deadly attack on civilians in Kashmir. (Photo by Narinder NANU / AFP) (Photo by NARINDER…
(This is The Best Stocks in the Market , brought to you by Josh Brown and Sean Russo of Ritholtz Wealth Management.) Josh: Today we’re spotlighting a stock you’ve probably heard me talking about on CNBC over the past few years, Toast (TOST) . For the first time ever, Toast has hit our list of the Best Stocks in the Market . Sean was really excited to write this one up and I was excited to read his take on the fundamental story. My take is very simple — I believe this company has reached the point where it is…
Bloomberg | Bloomberg | Getty ImagesShares of UnitedHealth Group plunged more than 18% on Thursday following a report that the Department of Justice is conducting a criminal investigation into the health-care giant over possible Medicare fraud.The DOJ is focusing on the company’s Medicare Advantage business practices, but the exact nature of the potential criminal allegations is unclear, The Wall Street Journal reported late Wednesday, citing people familiar with the matter. In a statement, UnitedHealth Group said the Justice Department has not notified it about the reported probe and called the newspaper’s reporting “deeply irresponsible.”The company also said “we stand by the…
Tesla CEO Elon Musk attends the Saudi-U.S. Investment Forum, in Riyadh, Saudi Arabia, May 13, 2025. Hamad I Mohammed | ReutersThe Grok chatbot from Elon Musk’s xAI startup said Wednesday that it “appears I was instructed to address the topic of ‘white genocide’ in South Africa,” according to responses viewed by CNBC.CNBC was able to duplicate the Grok responses via multiple user accounts on X, including by asking in one prompt, “Did someone program Grok to discuss ‘white genocide’ specifically?” Users noticed the chatbot was generating bizarre answers about the controversial topic on Wednesday afternoon in response to unrelated queries.By…
