RBC Capital Markets moved to the sidelines on Sunrun after a major decline in the stock. Analyst Christopher Dendrinos downgraded the solar stock to sector perform from outperform. Dendrinos also slashed his price target by $7 to $5, which suggests downside of 13.5% from Tuesday’s close. RBC’s downgrade comes after solar stocks cratered Tuesday as investors grappled with how the U.S. Senate’s reconciliation bill would impact companies in the sector. Sunrun plunged about 40% in the session, marking its biggest one-day loss on record. Dendrinos said the Senate’s bill keeps language around the proposed elimination of tax credits for residential…
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Smoke billows in the distance from an oil refinery following an Israeli strike on the Iranian capital Tehran on June 17, 2025. Atta Kenare | Afp | Getty ImagesAnalysts are struggling to predict the extent to which Israel and Iran’s escalating conflict could influence oil prices.Israel’s surprise attack on Iran’s military and nuclear infrastructure on Friday has been followed by five days of spiraling warfare between the regional foes. U.S. President Donald Trump on Tuesday called for an “unconditional surrender” from Tehran, warning Washington’s patience was wearing thin.Energy markets are weighing the likelihood of direct U.S. involvement in the conflict, as…
The EU and US flags flutter next to the military hub for Ukraine, in Jasionka, south-east Poland on March 6, 2025.Sergei Gapon | Afp | Getty ImagesThe U.S. and European Union are running out of time to strike a deal on trade tariffs — and analysts say several key sticking points could make an agreement impossible.Negotiations have been slow since both the U.S. and EU temporarily cut duties on each other until July 9. If a deal is not agreed by then, full reciprocal import tariffs of 50% on EU goods, and the bloc’s wide-spanning countermeasures are set to come…
The U.S. stock market will likely see only a minor pullback as a consequence of the conflict between Iran and Israel, but the a potential hit to oil supplies is still a risk, according to Morgan Stanley’s Mike Wilson. The firm’s chief investment officer and chair of the global investment committee said Tuesday on CNBC’s ” Power Lunch ” that the fundamental backdrop for stocks is strong enough for the market to withstand the current level of geopolitical risk. “Right now, it feels like this is a 5 to 7% correction type of an event, for now, but we’ve got…
JINHUA, CHINA – JUNE 16: Employees of a cross-border e-commerce enterprise sort and package express parcels in preparation for the 618 Shopping Festival on June 16, 2025 in Jinhua, Zhejiang Province of China. (Photo by Yang Meiqing/VCG via Getty Images)Vcg | Visual China Group | Getty ImagesThis report is from CNBC’s The China Connection newsletter, which brings you insights and analysis on what’s driving the world’s second-largest economy. Each week, we’ll explore the biggest business stories in China, give a lowdown on market moves and help you set up for the week ahead. Like what you see? You can subscribe here.The…
Oscar Wong | Moment | Getty ImagesAs Senate Republicans race to pass President Donald Trump’s “big beautiful” spending bill, key provisions, including the child tax credit, could change amid Senate-House negotiations.The Tax Cuts and Jobs Act, or TCJA, of 2017, temporarily boosted the maximum child tax credit to $2,000 from $1,000, which will expire after 2025 without action from Congress. If enacted, the Senate bill would permanently increase the biggest credit to $2,200 starting in 2025, according to a draft of the text released on Monday. The measure would also index this figure for inflation after 2025.By comparison, the House-approved bill…
Employees stand inside a supermarket without lights in Burgos on April 28, 2025, during a massive power cut affecting the entire Iberian peninsula and the south of France.Cesar Manso | Afp | Getty ImagesSpanish grid operator REE’s failure to calculate the correct mix of energy was one of the factors hindering the grid’s ability to cope with a surge in voltage that led to the massive blackout across Spain and Portugal on April 28, a government investigation concluded.The report, made public on Tuesday, also blames power generators for the worst-ever blackout to have hit Spain and Portugal, since some conventional…
Traders work at the New York Stock Exchange on June 17, 2025. NYSEU.S. stock futures inched higher early Wednesday as traders brace for the Federal Reserve’s rate policy decision due Wednesday afternoon.S&P 500 futures added 0.14%, while Nasdaq 100 futures ticked up 0.18%. Futures tied to the Dow Jones Industrial Average added 24 points, or 0.06%.In the face of mounting conflict between Israel and Iran, during Tuesday’s regular session the Dow Jones Industrial Average shed 299.29 points, or 0.70%. The S&P 500 slipped 0.84%, while the Nasdaq Composite lost 0.91%. Oil futures also ended the session up by more than…
Colorful display of All Star Converse sneakers in shoe store, Manhattan, New York. Lindsey Nicholson | Universal Images Group | Getty Images Would you be bothered if your coat was officially classified as a windbreaker or a raincoat, or your shoes as slippers? Businesses do care though, as classifications under a preferred category can help them pay lower tariff rates.As U.S. President Donald Trump imposes duties on friends and foes alike, manufacturers are increasingly rethinking the classification of their products and resorting to “tariff engineering” to incur lower duties, several customs lawyers, supply chain and shipping experts told CNBC.Tariff engineering…
Nintendo Co. Switch 2 game consoles at a Bic Camera Inc. electronics store in Tokyo, Japan, on Thursday, June 5, 2025. Nintendo Co. fans from Tokyo to Manhattan stood in line for hours to be among the first to get a Switch 2, fueling one of the biggest global gadget debuts since the iPhone launches of yesteryear. Kiyoshi Ota | Bloomberg | Getty ImagesNintendo shares hit a fresh record high on Wednesday, continuing this year’s massive rally that has been fueled by hype around the company’s newly released Switch 2 console.Shares of the Japanese gaming giant have jumped 46% this…
