Republican presidential nominee, former U.S. President Donald Trump arrives to speak during an election night event at the Palm Beach Convention Center on November 06, 2024 in West Palm Beach, Florida.Chip Somodevilla | Getty ImagesTop CEOs and their companies are pledging to donate millions of dollars to President-elect Donald Trump’s inaugural committee, as they seek to get on his good side and make inroads before he takes office.Some of the planned donations reportedly include $1 million each from Jeff Bezos’ Amazon, OpenAI CEO Sam Altman and Facebook parent company Meta, led by Mark Zuckerberg. Others include $2 million from Robinhood…
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American Airlines planes sit by their gates at the Miami International Airport on October 25, 2024 in Miami, Florida.Joe Raedle | Getty ImagesAmerican Airlines grounded flights nationwide Wednesday morning due to a technical issue, snarling travel during what carriers expect to be a period of record demand for the holidays.By 7:55 a.m. ET the groundstop had been lifted, an American Airlines spokeswoman told CNBC.”A technical issue is affecting American flights this morning,” a spokeswoman said. “Our teams are working to resolve the issue as quickly as possible, and we apologize to our customers for the inconvenience.”This is breaking news. Please…
The holiday buying season is here, but the familiar rush of shopping and seasonal jobs is taking on a new shape as online shopping continues to shift the work landscape. This year, retailers are expected to add 520,000 seasonal jobs, a drop from last year’s 564,000, according to outplacement firm Challenger, Gray & Christmas. The decline signals a larger trend: the growing dominance of e-commerce.”If you look at the pre-pandemic levels and where we are today in holiday 2024, you’ve had a pretty consistent increase in e-commerce sales and an increasing penetration,” said Tom Forte, managing director at Maxim Group.Online…
Nissan will be the victim of cost-cutting “carnage” if it combines forces with Japanese peer Honda, former Nissan CEO Carlos Ghosn told CNBC on Tuesday.”I think, without any doubt, Honda is going to be in the driver’s seat, which is very sad to see after having led Nissan for 19 years [and] brought Nissan to the forefront of the industry, to see that they’re going to be the victim of a carnage, because there is total duplication between Nissan and Honda,” he told CNBC’s “Squawk Box Europe.”Ghosn, who once led three automakers as part of the Nissan-Renault-Mitsubishi alliance, has been…
Treasury yields retreated on Tuesday in a holiday-shortened trading session ahead of the Christmas break.The yield on the 10-year Treasury was 12 basis points lower at 4.586%, while the 2-year Treasury was down 9 basis points at 4.340%.One basis point is equal to 0.01%. Yields move inversely to prices.Tuesday will likely play out as a muted day for U.S. financial markets, given the early close at 1 p.m. ET for stock trading. The bond market stops activity at 2 p.m.Markets will remain closed Wednesday for the Christmas holiday.Economic data releases out Tuesday include the Philadelphia Fed non-manufacturing survey and Richmond Fed survey for December.…
Investors should consider quality firms in China and Europe with superior valuations that have executed very well despite the “dire” political and economic situations in these markets, according to Pella Funds’ Jordan Cvetanovski.In the last two to three months, Pella Funds has been looking for opportunities in China and has increased its exposure to the region by “well over 10%,” said Cvetanovski, chairman and chief investment officer at the company. The firm’s strict focus on valuations has led it to regions other beyond the U.S., such as Europe and Asia.He told CNBC’s Sri Jegarajah that the firm’s China investments may…
Fernando Gutierrez-Juarez | Picture Alliance | Getty ImagesIt has been a banner year for spot bitcoin exchange-traded funds, with some of the biggest asset managers introducing ETFs that hold the flagship digital currency. But there are things to consider before adding these ETFs to your portfolio, experts say. The U.S. Securities and Exchange Commission approved the first spot bitcoin ETFs in January. Earlier this month, the 12 spot bitcoin ETFs collectively surpassed $100 billion in assets under management, marking one of the most successful ETF launches in history.Bitcoin ETFs give investors a “traditional way to buy an untraditional asset,” said…
European markets opened higher on Tuesday, in a shortened trading session for Christmas Eve.Stocks in Europe ended Monday’s session slightly higher, as investors reacted to more disappointing economic news out of the U.K., and the pan-European Stoxx 600 was lifted by a recovery in the share price of pharmaceuticals giant Novo Nordisk.There is no economic data expected out of Europe on Tuesday.Overnight in Asia, stocks were in mixed territory as investors monitored the monetary policy outlook in Japan, the blockbuster merger between autos giants Honda and Nissan and faltering consumer confidence in South Korea.Trading is expected to be muted across…
Traders work on the floor of the New York Stock Exchange on Dec. 9, 2024.Michael Nagle | Bloomberg | Getty ImagesThis report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here.What you need to know todayMega automobile mergerNissan and Honda have begun official merger discussions, the two companies announced on Monday. Negotiations will end June 2025. Japan-listed Honda shares were last up 13.4% on Tuesday and on track for their best day since…
The price of cocoa has soared, as deforestation and climate change make it more difficult for chocolate producers to get their hands on the precious beans. Sacramento-based startup California Cultured is hoping it has found a solution to the industry’s supply issue. “We are still starting with basically a little living bean. So, instead of planting it, we put it in a liquid environment, and we trick the bean over thousands of passages to grow the way that we want,” said Alan Perlstein, California Cultured’s founder and CEO, in an interview with CNBC Tech: The Edge. “We’re directly growing the tissue that gets…
