Kevin Hassett, director of the National Economic Council (L), and Kevin Warsh, former governor of the U.S. Federal Reserve.ReutersPresident Donald Trump’s fresh comments on potential candidates to replace Jerome Powell as the next chair of the Federal Reserve sparked a wave of speculation on prediction markets.National Economic Council Director Kevin Hassett, former Fed Governor Kevin Warsh, current Fed Governor Christopher Waller and Treasury Secretary Scott Bessent had all been floated as contenders to lead the central bank.In a wide-ranging interview on CNBC’s “Squawk Box,” Trump spoke highly of Hassett and Warsh, while revealing that Bessent, enjoying his current post as Treasury Secretary, has taken himself out of contention.”He’s…
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Hinge Health co-founders, Gabriel Mecklenburg and Daniel Perez celebrate its initial public offering at the New York Stock Exchange on May 22, 2025.NYSEShares of Hinge Health popped 10% in extended trading on Tuesday after the digital physical therapy company reported quarterly results for the first time since its debut on the New York Stock Exchange in May.Here’s how the company did based on average analysts’ estimates compiled by LSEG:Loss: Loss per share of $13.10. That may not compare with the 9 cents per share earnings expectedRevenue: $139 million vs. $125 million expectedRevenue at Hinge increased 55% in the second quarter from $89.8…
Utilities are emerging as a hot play in 2025 as investors take notice of their role in powering the artificial intelligence movement – and many of the names also happen to pay attractive dividends. As the broader S & P 500 retreated on Tuesday, the Utilities Select Sector SPDR Fund (XLU) touched a fresh record. Utilities are the second-best performing sector in the S & P 500 in 2025, up more than 14% and outperforming tech’s roughly 13% advance. The outperformance is greater still including utilities’ 2.8% dividend yield. XLU 5D mountain The Utilities Select Sector SPDR Fund (XLU) in…
Lisa Su, CEO of Advanced Micro Devices, and Sam Altman, CEO of OpenAI, testifiy during the Senate Commerce, Science and Transportation Committee hearing titled “Winning the AI Race: Strengthening U.S. Capabilities in Computing and Innovation,” in Hart building on Thursday, May 8, 2025.Tom Williams | CQ-Roll Call, Inc. | Getty ImagesAdvanced Micro Devices reported quarter earnings on Tuesday that missed estimates. The stock slid about 5% in extended trading.Here’s how the chipmaker did versus LSEG expectations for the quarter ended June:Earnings per share: 48 cents adjusted versus 49 cents expectedRevenue: $7.69 billion versus $7.42 billion expectedFor the current quarter, AMD…
Evan Spiegel, CEO of Snap Inc., attends the annual Allen and Co. Sun Valley Media and Technology Conference at the Sun Valley Resort in Sun Valley, Idaho, on July 9, 2025.David A. Grogan | CNBCSnap shares tanked 15% Tuesday when it reported second-quarter earnings in which global average revenue per user missed expectations.Here is how the company did compared with Wall Street’s expectations:Earnings per share: Loss of 16 cents. That figure is not comparable to analysts’ estimates.Revenue: $1.34 billion vs. $1.35 billion expected, according to LSEG Global daily active users: 469 million vs. 467 million expected, according to StreetAccountGlobal average revenue per user:…
Ilkercelik | Istock | Getty ImagesWe’re about to witness a regime change in productivity. Prepare for the “RIA of 1”: A single financial advisor supported by a collection of autonomous and augmented AI agents and applications.This isn’t a whimsical notion; it’s the inevitable outcome of AI fundamentally transforming the advisory space, augmenting advisors and reshaping firm structures through unprecedented efficiency. This efficiency isn’t merely incremental; it represents a paradigm shift, far exceeding the capabilities of even the most sophisticated traditional tools.AI-powered tools will enable advisory firms to prospect and convert. They will streamline client onboarding and service. AI will enable…
As Fundstrat’s Tom Lee says, this is the most hated bull market of all time, yet it continues to power higher. There are plenty of overhanging uncertainties that could derail this rally that I’ll discuss below, but first let’s talk about technical condition of this rally. This V-shape recovery-turned-rally from April lows has been unrelenting. Any minor pullbacks are bought up and those left on the sideline are still waiting for a sizable pullback to enter. It could continue to power higher leaving those on the sideline chasing momentum and entries at new highs, or, the numerous overhanging threats to this…
Electrical equipment supplier Eaton , whose products are essential to AI data centers, on Tuesday reported a solid second quarter and raised its full-year outlook. Nevertheless, the stock tumbled in response because the positive results fell short of the sky-high bar that Wall Street had set. Adjusted earnings per share for the second quarter ended in June rose 8% from the year-ago period to $2.95, beating the LSEG compiled analyst consensus estimate by three cents. Revenue rose 10% to $7.03 billion, beating the LSEG compiled analyst consensus estimate of $6.9 billion. Organic sales grew 8%, exceeding the Bloomberg estimate for…
A ferry passenger looks at a cargo ship full of shipping containers at the port of Oakland, California, U.S., August 4, 2025. Carlos Barria | CbThe U.S. trade deficit narrowed in June on a sharp drop in consumer goods imports, and the trade gap with China shrank to its lowest in more than 21 years, the latest evidence of the imprint on global commerce President Donald Trump is making with sweeping tariffs on imported goods.The overall trade gap narrowed 16.0% in June to $60.2 billion, the Commerce Department’s Bureau of Economic Analysis said on Tuesday. Days after reporting that the…
A screen displays the the company logo for Goldman Sachs on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., May 7, 2025. Brendan McDermid | ReutersChanges to the American labor market brought on by the arrival of generative AI are already showing up in employment data, according to a Goldman Sachs economist.Most companies have yet to deploy artificial intelligence in production cases, meaning that the overall job market hasn’t yet been significantly impacted by AI, said Joseph Briggs, senior global economist of Goldman’s research division, in a podcast episode shared first with CNBC.But there…
