Treasury Secretary Scott Bessent said Monday that the trade agreement reached over the weekend represents another stage in the U.S. shaking its reliance on Chinese products.Though the U.S. “decoupling” itself from its need for cheap imports from China has been discussed for years, the process has been a slow one and unlikely to ever mean a complete break.However, Bessent said there are now specific elements of decoupling in place that are vital to U.S. interests. The U.S. imported nearly $440 billion in goods from China in 2024, running a $295.4 billion trade deficit.”We do not want a generalized decoupling from…
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Here are Monday’s biggest calls on Wall Street: UBS reiterates Nvidia as buy UBS lowered its price target on the stock but said it’s sticking with Nvidia ahead of earnings later this month. “We expect Q/Q growth to reaccelerate in C2H [calendar] and see F2027/C2026E EPS of nearly $5.90 versus most investors now thinking low $5s. Net, we maintain Buy rated of the stock, but on lower estimateswe cut our PT from $180 to $175.” Jefferies upgrades Marriott to buy from hold Jefferies said the hotel giant is well positioned. “We are upgrading MAR & HLT to Buy from Hold,…
Crude oil futures jumped 4% on Monday, after the U.S .and China agreed to slash tariffs, easing trade tensions between the world’s two largest petroleum consumers.U.S. crude oil was up $2.52, or 4.1%, to $63.54 per barrel. Global benchmark Brent rose $2.33, or 3.65%, to $66.24 per barrel.Washington and Beijing agreed over the weekend in Switzerland to slash sky high tariff rates by 115%, U.S. Treasury Secretary Scott Bessent said Monday. The lower tariff rate will remain in place for 90 days as the world’s two largest economies continue to negotiate, Bessent said.”I would imagine in the next few weeks…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailCNBC’s Phil LeBeau joins ‘Squawk Box’ with the latest developments on the mounting air traffic control problems at Newark Liberty International Airport. Source link
People walk past an advertisement feature Donald Trump with Bitcoin in Hong Kong. May James | Lightrocket | Getty ImagesShares of KindlyMD skyrocketed 600% Monday after the healthcare company announced a merger with Nakamoto Holdings, a bitcoin investment company founded by David Bailey, a key cryptocurrency advisor to President Donald Trump.The newly formed company has secured $200 million in convertible debt and $510 million in fresh capital through a private investment in public equity (PIPE) deal, offering shares at $1.12 each.The raise drew support from more than 200 investors, including Actai Ventures, Arrington Capital, BSQ Capital Partners, Kingsway, Van Eck, and…
Just days into the papacy of Leo XIV, the new pope has begun to lay out his vision for how he will lead the Catholic church.Like his predecessor, he plans to embrace the poor and the marginalized. He wants to continue Francis’s effort to fling open the doors of the Vatican and listen to many voices outside the church hierarchy. And in a clear sign that this is a pope keenly attuned to the biggest tests of modernity, he said the church would address the challenge that artificial intelligence will pose to “human dignity, justice and labor.”As the leader of…
(This is a wrap-up of the key money moving discussions on CNBC’s “Worldwide Exchange” exclusive for PRO subscribers. Worldwide Exchange airs at 5 a.m. ET each day.) Wedbush’s Dan Ives says the US- China agreement creates a bull market environment once again for tech, while a major investor thinks there’s a trading opportunity in bonds here. Dan Ives: ‘Dream Scenario’ “If you are a tech investor, this is a dream scenario,” said Dan Ives on CNBC’s “Worldwide Exchange,” in response to the temporary reduction of US-China tariffs that will bring the effective rate on most Chinese imports to 30%. Ives…
These are the stocks posting the largest moves in premarket trading. Source link
Sir Elton John (right) performs at the Verizon Center in Washington, D.C.Kyle Gustafson | For The Washington Post | Getty ImagesCelebrity musicians from Elton John to Dua Lipa are urging the U.K. government to rethink controversial plans to reform copyright laws that allow artificial intelligence developers access to rights-protected content.An open letter signed by John, Lipa and a host of other high-profile artists, this weekend called on Prime Minister Keir Starmer to back an amendment proposed by U.K. lawmaker Beeban Kidron to make the legal framework around AI model makers’ use of copyrighted content more strict.”We are wealth creators, we…
A brand new Nissan car is displayed on the sales lot at Golden State Nissan on March 26, 2025 in Colma, California. Justin Sullivan | Getty ImagesNissan Motor will additionally slash more than 10,000 jobs globally, bringing the total cuts including previously announced layoffs to about 20,000 or 15% of its workforce, Japan’s public broadcaster NHK reported on Monday.The struggling Japanese automaker warned last month it would likely book a record 700 billion yen to 750 billion yen ($4.74 billion-$5.08 billion) net loss in the financial year that ended in March due to impairment charges. Japan’s third-biggest automaker is set to…
