Club holding and AI trade bellwether Nvidia is set to release earnings after the close Wednesday — a hotly anticipated report with market-moving implications, to say the least. As Jim Cramer put it earlier Tuesday: “Nvidia is the most important stock in the market.” While all this hype can be a burden, Nvidia’s status as the dominant provider of AI computing technology for data centers is undeniable. All signs suggest that the demand for that technology is undeniable too, particularly for its Blackwell family of AI chips. Accordingly, it’s widely expected that Nvidia will report better-than-expected sales and earnings compared…
Author: usaeverydaylife
U.S. President Donald Trump in the Cabinet Room of the White House on Aug. 26, 2025 in Washington, D.C.Chip Somodevilla | Getty Images It’s starting to feel like we’re in a game of Pac-Man, in which the U.S. government is the eponymous hungry yellow blob furiously chomping on everything in sight.The White House’s 10% stake in Intel and revenue-sharing agreement with Nvidia and AMD look like they’re just the start in a series of deals, as President Donald Trump promised. On Tuesday, Commerce Secretary Howard Lutnick told CNBC that the Pentagon is having “a monstrous discussion” over whether to acquire equity stakes…
File photo of Kung Ming-hsin at the 31st APEC Ministerial Meeting Press Conference at the National Development Council.Sopa Images | Lightrocket | Getty ImagesTaiwan’s government announced Wednesday the appointment of former TSMC board member Kung Ming-hsin as the new economy minister after his predecessor resigned for health reasons and as part of a broader cabinet reshuffle.Kung, who is transitioning from his current role as cabinet secretary-general, previously sat on the board of TSMC as a representative of the government’s National Development Fund, a major shareholder in the world’s largest contract chipmaker.Taiwan’s cabinet said in a statement that Kung will “steer the…
SpaceX’s Starship rocket lifts off from Starbase, Texas, as seen from South Padre Island on Aug. 26, 2025, for its 10th test flight. Ronaldo Schemidt | Afp | Getty ImagesSpaceX on Tuesday launched its mammoth Starship rocket, breaking a string of explosive failed attempts earlier this year to deploy its first batch of dummy Starlink satellites and notch key developmental milestones.The more-than 400-feet rocket, critical for SpaceX’s commercial dominance and NASA’s ambitions to return astronauts to the Moon, took off from the company’s Starbase facilities at 6:30 p.m. local time in Texas for a roughly one-hour nail-biting flight.Throughout the test…
A Kroger grocery store in Covington, Kentucky.Jeffrey Dean | Bloomberg | Getty ImagesKroger on Tuesday announced laying off corporate associates, as detailed in a memo, with a source familiar with the reduction stating that fewer than 1,000 employees will be impacted.The source added that staff working in stores, manufacturing facilities or distribution centers were not laid off.The company, as of February, employed over 409,000 staff, with most of them working in stores. The grocer had said in June it would close about 60 underperforming stores over the next 18 months.”In the past few months, we have all looked for ways…
European markets are heading for a higher open Wednesday as traders gear up for a quarterly earnings report from chipmaker Nvidia.The Nasdaq-listed stock has become a bellwether for the global technology sector, particularly regarding the progress of the artificial intelligence boom, as its major corporate customers include Microsoft, Google, Meta and Amazon.Its value has soared in recent years, giving it the biggest weighting in the S&P 500 and an outsized influence on U.S. market performance. The company will report after U.S. markets close on Wednesday.Nvidia faces Wall Street’s high expectations two years into AI boomFed responds to Trump effort to…
Lucy Guo attends her birthday party called ‘Lucypalooza’ in 2023, hosted by Le Bon Argent by Floyd Mayweather.Gonzalo Marroquin | Getty ImagesThirty-year-old Lucy Guo might be the world’s youngest female billionaire, but she’s always on the hunt for a good deal.The California-based serial entrepreneur’s net worth soared to $1.3 billion in April, according to Forbes. Her first startup, Scale AI, recently wrapped up a deal with tech giant Meta, bringing the firm’s valuation to $25 billion.Guo left Scale AI in 2018, but held on to a stake worth just under 5% which has now ballooned to $1.25 billion. Three years…
Shoppers spend on Oxford Street beneath union jack flags in London’s West End, on April 3.Richard Baker | In Pictures | Getty ImagesThis report is from this week’s CNBC’s UK Exchange newsletter. Each Wednesday, Ian King brings you expert insights on the most important business stories from the U.K. and other key developments you won’t want to miss. Like what you see? You can subscribe here.The dispatchFew institutions in Britain over the last decade and a half have avoided losing public confidence. Parliament, the Royal Family, the National Health Service, the BBC, the Church of England, the police service and the…
In this pool photograph distributed by the Russian state agency Sputnik, Russia’s President Vladimir Putin meets with German Gref, the CEO of Russia’s largest Sberbank, in Moscow on July 29, 2025.Mikhail Metzel | Afp | Getty ImagesRussia’s beleaguered economy, with its slowing growth and widening budget deficit, could be one push-factor when it comes to Russian President Vladimir Putin’s thought process around negotiations with Ukraine.You’d be forgiven for thinking Putin is not that interested in pursuing peace, considering Moscow’s refusal to entertain a ceasefire with Kyiv up to this point and the continual bombing of Ukraine. It hardly signals that…
President Donald Trump sent shockwaves through global markets Monday night by saying he would fire Federal Reserve Board Governor Lisa Cook.Trump’s decision not only put investors and economists on alert, but brought attention to the complicated innerworkings of the U.S. central bank. It also marks the latest escalation of Trump’s monthslong pressure campaign against the Fed, historically politically independent, to lower interest rates. Here are the key facts to know:Why do we follow the Federal Reserve?The Federal Reserve manages monetary policy for the United States. Its dual mandate, set out in a 1977 act of Congress that amended the Federal Reserve…
