President Donald Trump listens during a Cabinet meeting at the White House on April 30, 2025 in Washington, DC. Andrew Harnik | Getty ImagesViresh Varma can’t sleep. The CEO of AV Universal Corp., a small footwear company that sells through retailers like Macy’s, Nordstrom and DSW, said he needed to take out a $250,000 loan to pay his tariff bill on a container of shoes he imported from India for the holiday shopping season. Varma didn’t have the cash on hand to pay the duties, which he said used to be around $7,500 for a similar-sized container before President Donald Trump’s new…
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Dr. Martin Luther King Jr. addressing crowd of demonstrators outside the Lincoln Memorial during the March on Washington for Jobs and Freedom.Francis Miller/The LIFE Picture Collection via Getty ImagesOpenAI halted artificial intelligence-generated videos of Martin Luther King Jr. after users utilized its short-form video tool Sora to create “disrespectful depictions” of the civil rights leader.”While there are strong free speech interests in depicting historical figures, OpenAI believes public figures and their families should ultimately have control over how their likeness is used,” OpenAI said in a post to social media platform X.The ChatGPT maker said it will work to toughen…
Check out the companies making headlines in premarket trading. Regional bank stocks — The subsector ticked higher after driving down the broader market on Thursday. Zions rose more than 1% on the back of a Baird upgrade , while Western Alliance bounced by less than 1%. The SPDR S & P Regional Banking ETF (KRE) advanced 0.4%. Jefferies — The investment bank’s shares jumped 3% following Thursday’s plunge of more than 10%. Oppenheimer upgraded the stock to outperform on Friday, with the firm saying Jefferies’ exposure to First Brands is “very limited.” CSX — The railroad stock added 2.5% following…
Oppenheimer updgraded Jefferies to outperform on Friday, describing its exposure to the bankrupt autoparts maker First Brands as “very limited.” Shares of Jefferies have plunged about 26% since First Brands filed for bankruptcy on Sept. 29. The stock is likely down on “atmospheric” credit concerns because credit managers, BDCs, and several banks are under pressure “for reasons we consider dubious,” analyst Chris Kotowski told clients in a note “While the direct financial exposure to First Brands seems limited, we suspect the outsized reaction in JEF’s stock is related to the fact Bear Stearns had hedge funds that contributed to their…
Despite worries over bad loans at midsize U.S. banks, there’s little evidence of a systemic problem, according to a senior analyst at Moody’s Ratings.Marc Pinto, the agency’s head of global private credit, acknowledged in a interview on CNBC’s “Squawk Box” that there are concerns over loose lending standards and some slack in the conditions that institutions attach to loans.However, he said when looking at the system as a whole, contagion the likes that could trigger a broader financial crisis is not evident.”When we dig deeper here and look to see if there’s a turn in the credit cycle, which is…
Treasury Secretary Scott Bessent will speak by phone on Friday with Chinese Vice Premier He Lifeng to discuss the ongoing trade negotiations between the United States and China, a senior Trump administration official told CNBC’s Eamon Javers.Additional details about the call, including the specific time it would take place or the next steps that would be discussed, were not immediately clear.But the scheduled conversation could signal progress in the U.S.-China relationship, which hit a rocky patch this past week after President Donald Trump reacted to Beijing’s new export controls by threatening an additional 100% tariff on Chinese imports.Trump, asked in…
An automatic teller machine at the Zions Bank headquarters in Salt Lake City, Utah, on July 10, 2023.Kim Raff | Bloomberg | Getty ImagesThis is CNBC’s Morning Squawk newsletter. Subscribe here to receive future editions in your inbox.Here are five key things investors need to know to start the trading day:1. Calling the exterminatorStocks dropped yesterday amid mounting fears on Wall Street about the prevalence of bad loans, and what it means for a slew of regional banks. That’s led to some “cockroach” hunting, as investors race to assess the health of financial institutions’ lending businesses.Let’s break this down:Earlier this week, JPMorgan…
LONDON – Nov. 5, 2020: Fog shrouds the Canary Wharf business district including global financial institutions Citigroup Inc., State Street Corp., Barclays Plc, HSBC Holdings Plc and the commercial office block No. 1 Canada Square.Dan Kitwood | Getty Images News | Getty ImagesBanking stocks across the globe sold off on Friday, as fears about bad U.S. loans spilled over into equity markets beyond the United States.U.S. stock markets were rattled on Thursday amid mounting concerns about poor lending practices, after lenders Zions and Western Alliance disclosed bad loans.Banking stocks were hit hard, with positive earnings reports in the sector unable…
Bank of America believes that shares of Advanced Micro Devices could rally from here. The bank reiterated its buy rating on the semiconductor stock and raised its price objective to $300 from $250. This revised forecast offers upside of nearly 28% from Advanced Micro Devices’ Thursday close. Shares of Advanced Micro Devices have rallied 94% this year. AMD YTD mountain AMD YTD chart As a catalyst, analyst Vivek Arya pointed to greater visibility into the deployment and ramp out look of AMD’s “Helios” rack-scale AI hardware platform following positive announcements at the 2025 Open Compute Project, or OCP Global Summit.…
Bill and Shelly GallBill and Shelly GallBill and Shelly Gall say they’d be rich if it weren’t for their medical bills.The early retirees, who are on an insurance plan purchased through the Affordable Care Act marketplace, spent upwards of $20,000 on health-care expenses and insurance premiums in 2023 and in 2024, largely due to chronic health issues and emergency eye surgeries. The couple is on pace for a slightly smaller sum this year, if they’re lucky, Bill said. But next year, the Galls, who live in Meridian, Idaho, are bracing for their costs to grow significantly.Based on figures available through…
