Jamie Dimon, CEO of JPMorgan Chase, leaves the U.S. Capitol after a meeting with Republican members of the Senate Banking, Housing and Urban Affairs Committee on the issue of de-banking on Feb. 13, 2025.Tom Williams | Cq-roll Call, Inc. | Getty ImagesJPMorgan Chase CEO Jamie Dimon said Tuesday that bankruptcies in the U.S. auto market are a sign that lending standards grew too lax in the past decade-plus.Dimon, the longtime leader of the largest U.S. bank by assets, was speaking about the recent collapse of auto parts firm First Brands and subprime car lender Tricolor Holdings.”We’ve had a credit bull…
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U.S. Treasury Secretary Scott Bessent speaks to the press, on the day of U.S.-China talks on trade, economic and national security issues, in Madrid, Spain, September 15, 2025. Violeta Santos Moura | ReutersTreasury Secretary Scott Bessent accused China of trying to weaken the global economy by slapping export controls on resources vital for technology.In an interview with the Financial Times, Bessent said the moves over rare earths and minerals are an attempt by China “to pull everyone else down with them.””If they want to slow down the global economy, they will be hurt the most,” he said.The move by China…
2026 Jeep Grand WagoneerJeepDETROIT – Jeep is overhauling its top-end Grand Wagoneer lineup for the 2026 model year under a yearslong turnaround plan for the quintessential American SUV brand.The changes include updating exterior styling, introducing a new forthcoming extended-range powertrain and creating a simplified, less expensive model lineup all under the “Grand Wagoneer” name. Jeep will also kill off the standalone “Wagoneer” nameplate.”This marks a significant portfolio moment in refining our flagship SUV to reach a broader audience,” Jeep CEO Bob Broderdorf said during a media event.Since launching in 2021, the Wagoneer and Grand Wagoneer have not lived up to…
A sign is posted in front of a Broadcom office in San Jose, California, on Dec. 12, 2024.Justin Sullivan | 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. Broadcom’s boonOpenAI made its latest artificial intelligence partnership official yesterday, announcing a custom chip deal with Broadcom. Shares of the chipmaker closed Monday’s session nearly 10% higher following news of the partnership, though the stock pulled back by 3% in premarket trading this morning.Here’s what to know:The companies — which have been working together…
Traders work on the floor of the New York Stock Exchange. NYSEBond yields reflect borrowing costs for the governments who issue them, but can have an effect on mortgage rates, investment returns, the wider economy and personal borrowing.Certain markets have their own domestic issues at play. An uptick in unemployment in the U.K., political instability in France, and the ongoing U.S. government shutdown are also influencing investors in those respective markets, for example.However, market watchers told CNBC that Tuesday’s rally in sovereign bonds was largely due to a broad move into safer assets. Alongside bonds, gold, the Japanese yen and…
Citi is seen on the floor of the New York Stock Exchange on March 3, 2025. NYSECitigroup posted higher third-quarter earnings on Tuesday before the bell, with every division generating record revenue.Here’s what the bank reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Earnings per share: Profit jumped 23% to $1.86 from a year earlier but not comparable due to a Banamex goodwilll charge.Revenue: $22.09 billion versus $21.09 billion expected.Shares of the bank climbed about 1% in premarket trading Tuesday following the results.Citi’s net income rose 15% to $3.8 billion from a year earlier, while…
Greg Fleming, Rockefeller Capital Management president and CEO, speaks during CNBC’s ‘Squawk Box’ on July 10, 2025.CNBCRockefeller Capital Management, the wealth manager born from John D. Rockefeller’s family office, has raised new funds from investment firms of other ultra-rich families, CNBC has learned.On Tuesday, Rockefeller plans to announce the financing and its new valuation of $6.6 billion, up from $3 billion in 2023. The terms of the recapitalization, which traditionally use equity or debt to fund growth, strengthen the balance sheet, or provide liquidity to investors, were not disclosed.The recapitalization was led by Mousse Partners, the family office of Chanel’s…
Oracle Cloud Infrastructure on Tuesday announced that it will deploy 50,000 Advanced Micro Devices graphics processors starting in the second half of 2026.AMD shares climbed about 3% premarket. Oracle shares ticked slightly lower.The move is the latest sign that cloud companies are increasingly offering AMD’s GPUs as an alternative to Nvidia’s market-leading GPUs for artificial intelligence.”We feel like customers are going to take up AMD very, very well — especially in the inferencing space,” Karan Batta, senior vice president of Oracle Cloud Infrastructure, told CNBC’s Seema Mody.Oracle will use AMD’s Instinct MI450 chips, which were announced earlier this year.They are…
JPMorgan is bullish on DoorDash ‘s future after it completed its acquisition of Deliveroo this month. The bank upgraded shares of the food delivery company to an overweight rating, and lifted its price target to $325. Prior to a period of restriction, JPMorgan analyst Doug Anmuth had a neutral rating and $175 price target on the stock. Shares of DoorDash have surged 63% this year, but Anmuth’s revised price target implies an additional 19% upside ahead for the stock. DASH YTD mountain DASH YTD chart As a catalyst, Anmuth pointed to DoorDash’s recent acquisition of Deliveroo, which had operated in…
Wells Fargo on Tuesday beat Wall Street estimates for third-quarter profit and raised its closely watched profitability target after regulators removed an asset cap imposed on the bank, paving the way for it to pursue growth.The U.S. Federal Reserve lifted the lender’s seven-year, $1.95 trillion asset cap in June, drawing a line under its fake accounts scandal and freeing it to accelerate CEO Charlie Scharf’s growth plans.Shares of the San Francisco, California-based bank rose 1.7% in premarket trading.Strong loan growthThe bank is targeting a 17% to 18% return on tangible common equity (ROTCE) over the medium term, compared with its…
