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…
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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…
Governor Gavin Newsom speaks at Google San Francisco office about ‘Creating an AI-Ready Workforce’ that new joint effort with some of the world’s leading tech companies to help better prepare California’s students and workers for the next generation of technology, in San Francisco, California, United States on August 7, 2025. Tayfun Coskun | Anadolu | Getty ImagesCalifornia Gov. Gavin Newsom signed a series of bills Monday targeting child online safety as concerns over the risks associated with artificial intelligence and social media use keep mounting.”We can continue to lead in AI and technology, but we must do it responsibly —…
Signage outside Johnson & Johnson offices in Irvine, California, US, on Friday, Oct. 10, 2025. Kyle Grillot | Bloomberg | Getty ImagesJohnson & Johnson on Tuesday said it plans to separate its orthopedics business into a standalone company named DePuy Synthes within the next 18 to 24 months, marking its second major spinoff since 2023.J&J’s orthopedics unit, which makes hip, knee, and shoulder implants, surgical instruments, and other products, generated around $9.2 billion last year, or about 10% of total revenue.J&J in 2023 announced a two-year restructuring program for its orthopedics business, saying it planned to exit certain markets and…
Sign at the entrance to a Wells Fargo bank in Manhattan. Erik Mcgregor | Lightrocket | Getty ImagesWells Fargo’s profit rose in the third quarter on higher income from interest payments.The fourth-largest U.S. lender’s net income was $5.59 billion, or $1.66 per share, in the three months ended September 30, it said on Tuesday. That compares with $5.11 billion, or $1.42 per share, a year earlier.U.S. banks have benefited from the Federal Reserve’s rate cuts, which have eased deposit costs — the interest paid to customers for holding their savings.Net interest income — the difference between what the bank earns…
A select few stocks are poised to benefit as national security becomes a top concern for President Donald Trump’s administration, according to Morgan Stanley traders. After China tightened export controls on rare earths and related technologies, Trump took to his Truth Social platform on Friday to express his dissatisfaction, writing that China was “becoming very hostile.” Stocks sold off across the board after the president said that the United States would impose new tariffs of 100% on imports from China. As worldwide trade tensions escalate, the theme of deglobalization has also accelerated. On Monday, JPMorgan said that it would invest…
