US President Donald Trump makes an announcement in the Oval Office of the White House in Washington, DC on Nov. 6, 2025. Andrew Caballero-Reynolds | AFP | Getty ImagesPresident Donald Trump on Thursday struck landmark deals with Eli Lilly and Novo Nordisk that could mark a turning point in how many people can access their costly blockbuster obesity drugs. Under the agreements, Medicare will start covering GLP-1s for obesity for certain patients for the first time beginning in mid-2026 – a shift that will open access to millions of older adults and could spur more employers and other private insurers to…
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Palantir co-founder and CEO Alex Karp attends meetings at the U.S. Capitol in Washington on Oct. 18, 2023.Jonathan Ernst | ReutersWith Palantir’s stock plummeting more than 11% this week despite a better-than-expected earnings report, CEO Alex Karp took aim at investors betting against the software company. Karp, who co-founded Palantir in 2003, went after short sellers in two separate interviews on CNBC this week. After “Big Short” investor Michael Burry revealed bets against Palantir and Nvidia, Karp on Tuesday accused short sellers of “market manipulation.” He repeated that message on Friday in an interview with CNBC’s Sara Eisen, again knocking…
Call us believers in the Qnity Electronics story. We’re instituting a buy-equivalent 1 rating and price target of $110 a share on the newly public DuPont spin-off — betting there’s plenty of upside ahead thanks to Qnity’s exposure to secular trends such as artificial intelligence and high-performance computing. Qnity is a key supplier of chemicals and materials used in semiconductor and electronics manufacturing. The more chips and electronic devices that get built, the more demand there is for Qnity’s products. Executives made that clear once again Thursday night when they hosted, essentially, an earnings call “lite.” With DuPont reporting third-quarter…
Fed Governor Stephen Miran on Friday suggested that surging demand for dollar-denominated stablecoins could help push U.S. interest rates lower.In a speech delivered for an audience of economists in New York, the central bank official and appointee of President Donald Trump said the flood of crypto tokens pegged to the dollar could tamp down what economists refer to as “r-star,” or the “neutral” rate of interest that neither pushes nor impedes growth.If that happens, he said, the Fed might need to lower its own policy rate to avoid unintentionally slowing the economy.”Stablecoins may become a multitrillion-dollar elephant in the room…
Top Senate Democrat Chuck Schumer on Friday offered a new plan to Republican lawmakers that would allow the U.S. government to reopen from a shutdown that began Oct. 1.But Republicans quickly dismissed Schumer’s proposal, which hinges on protecting enhanced Affordable Care Act subsidies for at least one year.Schumer’s proposal calls for Democrats to agree to pass a so-called clean resolution that would provide short-term funding for government operations.In exchange, the New York lawmaker said, Republicans would agree to a separate one-year extension of existing enhanced tax credits that are used to reduce the cost of health insurance purchased on ACA…
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Markets : Stocks erased much of their losses Friday but were still lower on the week. The S & P 500 was on track for a nearly 2% decline this week. AI-related names and other “highflyers” came under pressure in recent days as the market pushed back on stretched multiples and the funding sources of AI infrastructure projects. Data on the labor market was mixed, too. ADP data on Wednesday showed…
Next week could get dicey for markets as earnings slow to a trickle and investors continue to go without government data. There was already more trepidation in the market this past week. On Friday, stocks are on pace to snap a three-week advance, with technology dragging all three major indexes into the red. The Nasdaq Composite, in particular, is about to post an ugly loss, sliding nearly 4%. Nvidia dropped more than 10% this week. Meta Platforms and Microsoft lost more than 6% and 4%, respectively. That volatility could continue in the week ahead in the absence of any major…
Darryl Strawberry former New York Mets speaks to the media before a ceremony to retire his jersey number before a game against the Arizona Diamondbacks at Citi Field on June 1, 2024 in New York City.Adam Hunger | Getty ImagesPresident Donald Trump pardoned Major League Baseball legend Darryl Strawberry, who had pleaded guilty to tax evasion three decades earlier, the White House said Friday.Strawberry, now 63, “served time and paid back taxes” after his conviction, a White House official said in a statement to CNBC confirming the pardon.An eight-time MLB All-Star who helped take the New York Mets and the…
A recent string of high-profile layoffs have taken up headlines and caused anxiety in the workforce.Companies announced 153,074 layoffs in October, adding up to 1.1 million cut announcements for the year, according to outplacement firm Challenger, Gray & Christmas. That makes it the worst year for layoff notices since 2009, CNBC reported.But job experts say they’re not in panic mode. Layoff news doesn’t paint the whole picture of the job market. Private data around job openings, payrolls and employee sentiment show that hiring is cooling but “not falling off a cliff,” says Glassdoor chief economist Daniel Zhao.The Challenger monthly data…
People walk through the Cornell University campus on Nov. 3, 2023 in Ithaca, New York. Matt Burkhartt | Getty ImagesCornell University has agreed to pay $60 million and accept the Trump administration’s interpretation of civil rights laws in order to restore federal funding and end investigations into the Ivy League school.Cornell President Michael Kotlikoff announced the agreement on Friday, saying it upholds the university’s academic freedom while restoring more than $250 million in research funding that the government withheld amid investigations into alleged civil rights violations.The university agreed to pay $30 million directly to the U.S. government along with another $30 million toward research that will support U.S. farmers.Kotlikoff said the agreement revives the campus’ partnership with the federal government “while…
