The “One Big Beautiful Bill” has drawn mixed reactions on Wall Street, but for some investors, it represents a blueprint for a new phase of U.S. economic policy. The bill , which is characterized by extensive tax reforms and selective incentives, is forecast to add to the federal deficit and has drawn criticism and triggered warnings from credit agencies. Strategists CNBC spoke to say they believe the bill is more than just another round of stimulus, and investors are making clear sectoral bets. ‘A pivot point’ Peter Andersen, founder of Andersen Capital Management, calls the bill “a pivot point,” arguing…
Author: usaeverydaylife
This report is from this week’s CNBC’s UK Exchange newsletter. Like what you see? You can subscribe here.The dispatchAfter several years in the Big Apple, I knew my return to London would be a culture shock.Instead of Times Square with its skyscrapers and blinding lights, I would roam around Piccadilly Circus and its Victorian buildings; Dunkin Donuts on every major intersection would be replaced by Greggs on street corners, and I’d be ordering a sausage roll instead of a bagel for lunch.But beyond the trivial switch-ups, I was in for a bigger shock than I thought — on the economic front.Firstly, the cost of living, from…
The 46th fleet of the Chinese People’s Liberation Army Navy sets sail from a military port in Zhanjiang, south China’s Guangdong Province, Feb. 21, 2024. Xinhua News Agency | Xinhua News Agency | Getty ImagesChina said Wednesday it warned and “drove away” a U.S. destroyer that had sailed near the coast of the disputed Scarborough Shoal in the South China Sea — one of the most valuable shipping lanes globally.The destroyer, USS Higgins, “illegally entered China’s territorial waters off Huangyan Island without the approval of the Chinese government,” the country’s defense ministry said, according to a CNBC translation of the statement…
The statue of former Treasury Secretary Albert Gallatin stands in front of the north wing of the U.S. Treasury Department headquarters building on April 24, 2025, in Washington, DC, U.S.J. David Ake | Getty Images News | Getty ImagesThe U.S. government’s budget deficit grew nearly 20% in July to $291 billion despite a nearly $21 billion jump in customs duty collections from President Donald Trump’s tariffs, with outlays growing faster than receipts, the Treasury Department said on Tuesday.The deficit for July was up 19%, or $47 billion, from July 2024. Receipts for the month grew 2%, or $8 billion, to $338 billion, while outlays jumped 10%, or…
A U.S. judge on Tuesday ordered the Trump’s administration to restore a part of the federal grant funding that it recently suspended for UCLA. Genaro Molina | Los Angeles Times | Getty ImagesA U.S. judge on Tuesday ordered President Donald Trump’s administration to restore a part of the federal grant funding that it recently suspended for the University of California, Los Angeles.U.S. District Judge Rita Lin in San Francisco ruled that the grant funding suspensions violated an earlier June preliminary injunction where she ordered the National Science Foundation to restore dozens of grants that it had terminated at the University of California.That order had blocked the agency from cancelling other grants at the University of California system, of which UCLA is a part.”NSF’s actions violate…
An Aldi grocery store on May 2, 2025, in Washington, DC, U.S.Kevin Dietsch | Getty Images News | Getty Images Waiting for tariff-induced price increases in the U.S. to show up can feel like watching an M. Night Shyamalan movie.July’s consumer price index came in mostly benign. The headline annual rate of 2.7% was lower than the Dow Jones estimate of 2.8%. That said, the core figure was 0.1 percentage points more than expected, and the highest since February, before U.S. President Donald Trump unleashed his tariffs in April.”The tariffs are in the numbers, but they’re certainly not jumping out…
The ‘Fast Money’ traders talk what Tuesday’s CPI data is signaling about the economy. Source link
A nurse prepares doses of the Pfizer vaccine during a COVID-19 vaccination event at Josephine’s Southern Cooking in Chatham, Illinois, Dec. 30, 2021.Brian Cassella | Tribune News Service | Getty ImagesThe Food and Drug Administration is considering revoking its authorization of Pfizer’s Covid-19 vaccine for healthy children under the age of 5, the drugmaker confirmed to CNBC on Tuesday. The move could leave many kids with no available shot against the virus, as jabs from Moderna and Novavax are cleared for more limited populations. While Covid typically causes mild symptoms in most children, others, such as infants under 1 or those…
Subadra Rajappa, Societe Generale head of U.S. rates, joins ‘Fast Money’ to talk the market reaction to CPI. Source link
(These are the market notes on today’s action by Mike Santoli, CNBC’s Senior Markets Commentator. See today’s video update from Mike above.) The market took a better-than-feared CPI report as a signal that it’s free to play looser and more aggressively. Given the magnitude of the downside shock in the Aug. 1 payroll report , CPI would have had to come in piping hot to undermine the Street’s conviction that the window is wide open for the Fed to resume rate cuts in September. The modest upside to core CPI fell well short of that threshold. The result was a…
