Champpixs | Istock | Getty ImagesBrian Lovern started his career pointing at storm systems on a green screen as a local TV weatherman in western Kentucky. More than two decades later, he was staring at natural-gas price charts, turning forecasts into profits, producing annual returns upwards of 100%.Lovern, 49, had made the unusual jump from broadcast meteorology to Wall Street, working on weather desks at hedge funds and investment banks. But trading wasn’t part of the job.”On the trade floors, in most cases, that’s not going to happen,” he said in an interview. “They kind of frown upon weather guys…
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Citadel Founder and CEO Ken Griffin said on Thursday that megacap technology name Apple shouldn’t receive any exemption from President Donald Trump’s tariffs . In an interview with CNBC’s Sara Eisen, the billionaire said that the iPhone maker should “100% not” be waived from the duties related to importing its devices, a majority of which have historically been manufactured overseas in China. The company has also been increasing production of its products in other countries like India and Vietnam. Griffin continued, “We’re just going to continue to favor big and connected businesses in America?” The CEO then went on to…
Billionaire Wall Street titan Ken Griffin believes the full impact of tariffs on inflation have not been felt yet, and he only sees one more rate cut from the Federal Reserve this year. The founder and CEO of Citadel said Thursday only about half of the inflationary impact from President Donald Trump’s wide-spreading levies on U.S. trading partners has passed through the economy. As a result, the investor only expects moderate easing from the central bank. “The inflationary impulse from tariffs has only passed about 50% through the economy at this point. It’s still coming,” Griffin told Sara Eisen on…
House Minority Leader Hakeem Jeffries, D-N.Y., holds a news conference on the government funding deadline in the Will Rogers Corridor in the U.S. Capitol on Thursday, September 24, 2025. Bill Clark | Cq-roll Call, Inc. | Getty ImagesWashington, D.C., is at an impasse with just days to go before the federal government shuts down, as Democrats dig in on their health care demands and President Donald Trump backs out of negotiations.Congress is set to return to Capitol Hill on Monday, giving lawmakers just two days to reach a deal that will keep the government from shutting down starting Wednesday.Republicans are…
CEO of Citadel Ken Griffin is interviewed Chairman of the Milken Institute Michael Milken (not pictured) during the Milken Institute Global Conference 2025 in Beverly Hills, California, U.S., May 7, 2025. Mike Blake | ReutersCitadel CEO Ken Griffin on Thursday knocked the Trump administration for making deals with large corporations to avoid the full extent of its tariff policies, describing such agreements as anti-American.”Is that our country, that we’re going to favor the big and the connected?,” Griffin told CNBC’s Sara Eisen in an exclusive interview from Miami. “That’s not the American story.””When the state becomes involved in picking winners…
Check out the companies making the biggest moves midday: Mirion Technologies — The radiation detection name fell more than 8% after it announced a common stock offering of $300 million. Mirion is also selling $250 million in convertible bonds. Worthington Steel — The metal processing company dropped 8% on mixed fiscal first-quarter results. While sales and operating income grew from the year-earlier period, but production volume declined. Freeport-McMoRan — Shares of the mining company slid 5%, adding to Wednesday’s 17% drop. The stock has been under pressure this week after Freeport declared force majeure at its Grasberg mine in Indonesia.…
Alphabet may eventually become the largest company in the world as it edges out rivals in artificial intelligence, powered by growth and profits from its generative AI initiatives, according to MoffettNathanson. The investment firm, which has a buy rating on Alphabet shares, raised its price target by 28%, to $295 from $230. That implies more than 19% upside from Wednesday’s close. In a 19-page report headlined, “Alphabet: World’s Most Valuable Company,” MoffettNathanson acknowledged, “this is not a statement of the present, but of what we believe should be,” referring to the company’s market capitalization. A “combination of market leadership, diversification…
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Thursday’s key moments. 1. The S & P 500 on Thursday was tracking for a third straight session lower, and the index was in jeopardy of breaking a three-week winning streak. The market finds itself under continued pressure because the 10-year Treasury yield keeps rising despite last week’s Federal Reserve interest rate cut. Big call from Jim Cramer on “Mad Money” on Wednesday night: Sell speculative stocks on parabolic moves higher with no real earnings or revenue to…
The U.S. Capitol in Washington, D.C., is seen on a cloudy and foggy morning, March 6, 2024.Kevin Dietsch | Getty ImagesThe White House warned federal agencies to prepare for mass firings if Congress does not reach a deal to fund the government before next Wednesday.A memo released Wednesday by the Office of Management and Budget told agencies whose funding expires Oct. 1 — and which do not have alternative funding sources and are “not consistent with the President’s priorities” — to consider issuing reduction-in-force notices for employees.The warning ratchets up the pressure on Congress to strike a deal to avert…
The Amazon Prime logo is displayed on the side of an Amazon delivery truck in Richmond, California, on June 21, 2023.Justin Sullivan | Getty ImagesAmazon will pay $2.5 billion to settle Federal Trade Commission allegations that it duped users into paying for Prime memberships, the regulatory agency announced Thursday.The surprise settlement comes as Amazon and the FTC were just three days into the trial in a Seattle federal court. Opening arguments took place on Tuesday. The lawsuit, filed by the FTC in June 2023 under the Biden administration, claimed that Amazon deceived tens of millions of customers into signing up…
