(This is a wrap-up of the key money moving discussions on CNBC’s “Worldwide Exchange” exclusive for PRO subscribers. Worldwide Exchange airs at 5 a.m. ET each day) Investors are watching the trend in small caps and value stocks and how the Federal Reserve rate cut last week could impact that trade. Worldwide Exchange word of the day: Confidence Stephanie Link of Hightower said she’s constructive about the market, but still expects to see some volatility. The investor said she has confidence the Fed is engineering a soft landing and that corporate earnings are going to be better than expected. “I…
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U.S. President Joe Biden announces increased tariffs on Chinese products to promote American investments and jobs in the Rose Garden of the White House on May 14, 2024 in Washington, DC. Win Mcnamee | Getty ImagesThe U.S. Commerce Department on Monday proposed prohibiting key Chinese software and hardware in connected vehicles on American roads due to national security concerns – a move that would effectively bar nearly all Chinese cars from entering the U.S. market.The planned regulation, first reported by Reuters, would also force American and other major automakers in the coming years to remove key Chinese software and hardware from vehicles in…
Ryan W. Routh, suspected of attempting to assassinate Republican presidential nominee and former U.S. President Donald Trump at his West Palm Beach golf course, stands handcuffed after his arrest during a traffic stop near Palm City, Florida, U.S., September 15, 2024.Martin County Sheriff’s Office | Via ReutersFederal prosecutors on Monday said in a new court filing that Ryan Routh, the accused would-be assassin of Donald Trump, stalked the ex-president for a month before being arrested last week outside of his Florida golf course.The filing says that on Aug. 14, “Routh traveled from the Greensboro, North Carolina, area, to West Palm…
Britain’s Chancellor of the Exchequer Rachel Reeves speaks on the second day of the annual Labour Party conference in Liverpool, north-west England, on September 23, 2024. Paul Ellis | Afp | Getty ImagesLiverpool, ENGLAND — U.K. Finance Minister Rachel Reeves vowed on Monday that Britain will not return to austerity, but said she would make hard choices as she lays out budget proposals next month.”It will be a budget with real ambition … a budget to deliver the change we promised. A budget to rebuild Britain,” she told a crowd of Labour party delegates Monday. “There will be no return to…
Check out the companies making headlines before the bell. Intel – The chipmaker rose 4% on news that asset management company Apollo Global Management offered to make an equity-like investment of as much as $5 billion in Intel, according to a Bloomberg News report on Sunday. CNBC confirmed on Friday that Qualcomm had recently approached Intel about a takeover. Intel has lost more than half its value this year, and last reached an all-time high in the summer of 2000. Ciena – The networking software maker added more than 4% after a double upgrade by Citigroup to buy from sell…
An advertisement for Hugo Boss AG in Shanghai, China, on Wednesday, May 1, 2024. Bloomberg | Bloomberg | Getty ImagesLONDON — European luxury stocks tumbled on Monday as analysts warned of a deteriorating demand outlook, particularly among high-spending Chinese consumers.Germany’s Hugo Boss was among the worst performers on the Stoxx 600 index by midday, down 4%, after analysts at Bank of America downgraded the stock to “underperform” from “buy.” The second half is set to present a tougher consumer backdrop with higher discounting, they said.”Following the post-Covid peak in consumption in 2022, luxury sector revenues have been sequentially slowing. The American consumer…
Here are the most important news items that investors need to start their trading day:1. Rate reliefInvestors cheered the Federal Reserve’s huge policy move last week. The question now is what the central bank will do next. The S&P 500, Dow Jones Industrial Average and Nasdaq Composite all rose more than 1% for the week, as the Dow closed at a record high Friday. The moves followed the Fed’s decision to cut interest rates by 0.5 percentage points on Wednesday. All eyes now turn to the next policy meeting in November, where the Fed is again expected to reduce rates…
Employees of the State Archaeological Office have hung pictures of finds from a construction trailer during a main archaeological investigation on the Northvolt site. Picture Alliance | Picture Alliance | Getty ImagesBattery maker Northvolt on Monday announced plans to cut a total of 1,600 jobs in Sweden as part of a major cost-cutting drive.In an update published via its website, Northvolt said that following initial steps taken as part of a strategic review, the company had revised its scope of operations in Sweden “to ensure that its resources are focused on accelerating production in large-scale cell manufacturing at Northvolt Ett.”The strategic…
The Oreo family pack on sale at one of Australia’s largest grocery store chains seemed to be a pretty good deal, with a discount of 50 Australian cents. Trouble was, the new price was still a full Australian dollar more than what the cookies cost a month earlier.And on Monday, in a rare case of legal action tied to rising prices, the Australian government sued over what regulators described as a pattern of deception used by Woolworths and Coles, the country’s duopoly of grocery store giants, between 2021 and 2023.Gina Cass-Gottlieb, chair of the Australian Competition and Consumer Commission, issued…
WASHINGTON — For many who answered to President Donald Trump, the job was a risk-reward proposition like no other.There was a chance to win his favor and shape national policy. And there was the possibility of running afoul of the boss and getting publicly humiliated.Cabinet secretaries came and went in a Trump administration marked by head-spinning turnover.Former advisers churned out memoirs detailing their frustrations with Trump, who in turn used his massive public platform to shower them with insults.Should he return to the White House, Trump would need to build a leadership team once again — a challenge made more daunting by his track…
