Key PointsThe S&P 500 and Dow Jones Industrial Average popped to fresh records Thursday, a day after the Fed lowered rates by a half percentage point.Lee was correctly bullish heading into 2024 and has nailed several bold short-term calls on the market.Tom Lee is not sold on the stock market’s rally after the Federal Reserve cut interest rates. The S & P 500 and Dow Jones Industrial Average popped to fresh records Thursday, a day after the Fed lowered rates by a half percentage point. Many investors expected the central bank to lower rates by just a quarter percentage point.…
Author: usaeverydaylife
An employee does final inspections on a Mercedes-Benz C-Class at the Mercedes-Benz US International factory in Vance, Alabama.Andrew Caballero-Reynolds | AFP | Getty ImagesMercedes shares fell more than 8% Friday after the German carmaker cut its 2024 guidance on the back of weaker demand from China.The company said late Thursday that it now expects group earnings before interest and taxes (EBIT) to come in “significantly below” the previous year and that its adjusted return on sales would be between 7.5% and 8.5%, down from its earlier forecast of 10% to 11%.Shares pared losses slightly to trade 7% lower as of…
People look at a BYD Dolphin electric subcompact during the 2023 Shenyang International Auto Show on May 3, 2023 in Shenyang, Liaoning Province of China.Vcg | Visual China Group | Getty ImagesChinese electric vehicles will remain competitive in Europe despite the EU’s additional tariffs on autos made in the country, particularly after they were revised lower last month.In the latest tariff revisions at end August, BYD, China’s behemoth automaker, saw tariffs cut to 17% from 17.4%, Geely to 19.3% from 19.9%, and SAIC saw a reduction to 36.3% from 37.6%.To make the European market unattractive for Chinese EV exporters, tariffs…
Amy Chan brought in over $200,000 in 2023 with her business, according to documents seen by CNBC Make It.Courtesy of Amy ChanDo you feel like you’ve been single for a really long time?Well, you’re not alone. The term “chronically single” has gone viral on TikTok with some videos reaching more than 10 million viewers globally.There are two types of single people: single people who are happy being single, and single people who are not happy being single, Amy Chan told CNBC Make It.After experiencing a gut-wrenching breakup in her 20s, Chan set off to change the breakup and dating experience…
The Masimo logo is displayed at Masimo headquarters in Irvine, California, on Dec. 27, 2023.Mario Tama | Getty ImagesActivist investor Politan Capital won the two board seats it was seeking at medical technology company Masimo, defeating founder and CEO Joe Kiani and another director, Chris Chavez, at the shareholder vote.Masimo shares rose more than 2% in extended trading. Politan nominees Darlene Solomon and Bill Jellison will join Politan investment chief Quentin Koffey and former Johnson & Johnson executive Michelle Brennan, who obtained board seats in a prior proxy fight last year.”We look forward to meeting with, learning from, and working…
Alakh Pandey (R), CEO of Physics Wallah, along with the company’s co-founder Prateek Maheshwari (L).Physics WallahIndian education technology startup Physics Wallah announced on Friday that it had raised $210 million as it looks to expand its business, in part via acquisitions, amid troubles in the sector.The funding, led by Hornbill Capital, and involving Lightspeed Venture Partners, GSV and WestBridge, values the company at $2.8 billion, a significant increase from its last valuation of $1.1 billion.Physics Wallah, founded in 2020, is one of India’s many education technology, or ed-tech firms, that offers free and paid-for courses for various competitive examinations in…
Close up of Chinese Yuan notes, with Mao Tse-tungPeter Dazeley | The Image Bank | Getty ImagesChina’s yuan rose to its strongest level in nearly 16 months on Friday on bets that Beijing will unveil fresh economic stimulus following a jumbo U.S. rate cut, though gains were capped by dollar buying from Chinese state banks.The onshore yuan strengthened to as much as 7.0420 per dollar, the firmest level since May 24, 2023, on track for a six-session rising streak.Although China kept benchmark lending rates steady on Friday, confounding expectations for a cut, market watchers believe more support measures will be…
CNBC’s Jim Cramer on Thursday reviewed stocks that have historically performed well just after the Federal Reserve embarks on a cutting cycle and chose his favorites. Using data compiled by CNBC Pro, Cramer discussed the top 10 stocks with the median best performance during three months after an initial cut over the past 40 years.”Now that the Fed’s started cutting rates with a bang, you need to think about what kind of stocks will work best in what I consider to be a new regime. Our friends as CNBC Pro got you started with the ten stocks that’ve done best…
U.S. and Philippine troops fire a High Mobility Artillery Rocket System during live fire exercises as part of US-Philippines army-to-army joint drills on March 31, 2023 in Laur, Nueva Ecija, Philippines.Ezra Acayan | Getty Images News | Getty ImagesThe United States has no immediate plans to withdraw a mid-range missile system deployed in the Philippines, despite Chinese demands, and is testing the feasibility of its use in a regional conflict, sources with knowledge of the matter said.The Typhon system, which can be equipped with cruise missiles capable of striking Chinese targets, was brought in for joint exercises earlier this year, both countries said at the time, but…
Oscar Wong | Moment | Getty ImagesCompanies could face hefty fines or even suspensions of service in the European Union under strict new cybersecurity regulations set to come into force next month.The EU’s NIS 2 cybersecurity directive will on Oct. 17 become enforceable by member states. That means firms will have to ensure their operations are up to scratch with obligations set out by the new law.The rules impose tougher requirements on companies around their internal cyber resilience strategy and internal practices.CNBC runs through all you need to know about NIS 2 — from what the law requires to the…
