The personal consumption expenditures price index for December was expected to show a 2.6% increase on an annual basis Source link
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A 3D-printed miniature model of U.S. President-elect Donald Trump and TikTok logo are seen in this illustration taken January 19, 2025.Dado Ruvic | ReutersTikTok has nearly bounced back to its original traffic levels after usage fell 85% when the app temporarily shut down earlier this month, according to Cloudflare Radar.”DNS traffic for TikTok-related domains has continued to recover since service restoration, and is currently about 10% lower than pre-shutdown level,” David Belson, head of data insight at Cloudflare, told CNBC in a statement.DNS, short for Domain Name System, converts website names into IP addresses that browsers use to access internet…
Customers waiting at the checkout in a supermarket.Markus Scholz | Picture Alliance | Getty ImagesGerman inflation was unchanged year-on-year at 2.8% in January, preliminary data from the country’s statistics office Destatis showed Friday in the last reading before Germans head to the polls next month.The reading was also in line with a forecast from economists polled by Reuters. The print is harmonized across the euro area for comparability. On a monthly basis, the harmonized consumer price index fell by 0.2%Germany’s inflation rate has now stayed above the European Central Bank’s 2% target for the fourth month in a row, after falling…
Exxon Mobil on Friday beat Wall Street’s estimate for fourth-quarter profit as higher oil and gas production offset lower oil prices and weaker refining margins.Fourth quarter profit was $7.39 billion. Profit per share was $1.67, beating analyst estimates of $1.56, according to LSEG data.The No. 1 U.S. oil producer reported total earnings of $33.46 billion for full-year 2024, down from $38.57 billion the year earlier.The company became the largest oil producer in the Permian basin in 2024, the biggest U.S. oilfield, after closing its acquisition of Pioneer Natural Resources in May.Exxon’s low production costs in the basin and its lucrative…
New platform launches and possible product releases for Oddity in the coming months could spell upside for shares, according to JPMorgan. The firm initiated coverage on the beauty and wellness stock with an overweight rating and a $55 price target. That reflects more than 17% upside from Thursday’s close. “We believe Oddity is well positioned to capitalize on the shift of beauty online (~20% penetration), which, combined with new brand launches and other growth drivers such as international expansion, should support 20%+ revenue growth over time,” analyst Cory Carpenter wrote in a Friday note to clients. “Oddity has an attractive…
Hamas on Friday announced the names of three hostages — including an American citizen — whom it said it would release this weekend as part of its cease-fire with Israel to end the war in Gaza, an agreement that has now held for nearly two weeks.Abu Obeida, the spokesman for the group’s armed wing, named the three as Yarden Bibas, 35, Ofer Kalderon, 54, and Keith Siegel, 65, an American-Israeli. Israel is slated to release about 90 Palestinian prisoners this weekend in exchange for the three men, according to a Hamas-linked prisoners’ information center.The three were abducted during the Oct.…
Michael Wirth, CEO of Chevron.Adam Jeffery | CNBCChevron reported fourth-quarter earnings below Wall Street estimates on Friday as weak margins pushed its refining business into a loss for the first time since 2020.The second-largest U.S. oil producer posted total earnings of $3.24 billion for the three months ended Dec. 31, up from $2.26 billion in the same period last year.However, its adjusted earnings per share of $2.06 was below Wall Street’s $2.11 estimate, hit by weak fuel sales in the United States.Profits on fuel sales tumbled across the industry last year, as the post-pandemic demand surge faded and economic activity…
Analysts on Wall Street are responding favorably to Apple’s latest quarterly results , even though its iPhone revenue came in weaker than expected. For its fiscal 2025 first quarter, the iPhone maker’s earnings and revenue beat analysts’ expectations, with overall revenue rising 4%. However, iPhone sales missed estimates and slightly fell year over year, while overall sales in China dropped 11.1% in the quarter. Apple CEO Tim Cook said: “During the December quarter, we saw that in markets where we had rolled out Apple intelligence, that the year-over-year performance on the iPhone 16 family was stronger than those markets where…
The U.S. Department of Justice building is pictured in Washington, U.S., March 21, 2019.Leah Millis | ReutersDonald Trump kicked off his second presidential term with dozens of executive orders, many of which focus on hot-button culture war issues, from transgender and abortion rights to diversity, equity and inclusion initiatives. The job of enforcing the administration’s position on those issues will largely fall to the Justice Department’s Civil Rights Division.During past handovers between Democratic and Republican administrations, the Civil Rights Division has undergone major policy shifts. During the George W. Bush administration, for example, the division focused resources on fighting religious discrimination. After…
Jaap Arriens | Nurphoto | 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 todayMarkets rise amid choppy tradingMajor U.S. benchmarks rose on Thursday in a volatile session that saw stocks slump in the final hour of trading before sharply recovering losses. Asia-Pacific markets mostly advanced Friday. India’s Nifty 50 index climbed around 0.8% ahead of the country’s Union Budget on Saturday, in which the government has…
