Steven Alexopoulos, TD Cowen U.S. large cap bank analyst, believes artificial intelligence has created a huge buying opportunity in his favorite bank picks like JPMorgan — one last seen in the aftermath of the Global Financial Crisis — even with some of the shares trading at record highs. The analyst said the focus of AI will widen out from the builders like Nvidia to companies that use the technology to unlock massive economic value. Banks, for example, are going to apply AI to every corner of their businesses from credit decisions to portfolio management to customer experience. “The number two…
Author: usaeverydaylife
A worker stitches apparels at a garment factory in Vietnam’s Thai Nguyen Province on July 2, 2025. Nhac Nguyen | Afp | Getty ImagesPresident Donald Trump said Wednesday that the United States has struck a trade deal with Vietnam.Trump’s Truth Social post announcing that deal provided no additional information, but assured that more details were forthcoming.This is breaking news. Please refresh for updates. Source link
Speaker of the House Mike Johnson (R-LA) speaks with reporters as he returns to his office after going to the House Rules Committee as it holds a hearing to consider the One, Big, Beautiful Bill Act at the U.S. Capitol on July 01, 2025 in Washington, DC. House Republicans began their work on the legislation less than two hours after the Senate passed its version. Chip Somodevilla | Getty Images News | Getty ImagesRepublican leaders in the U.S. House are racing to hold a vote Wednesday on President Donald Trump’s marquee domestic policy package, but weather woes and persistent GOP…
Tesla reported around 384,000 vehicle deliveries in the second quarter, a 14% decline from a year ago, and the second straight quarterly drop. The stock rose about 2% Wednesday.The electric vehicle maker reported 443,956 deliveries and production of 410,831 vehicles during the same period last year.Here are the key numbers:Total deliveries Q2 2025: 384,122 vehiclesTotal production Q2 2025: 410,244 vehiclesWall Street analysts were expecting Tesla to report deliveries of around 387,000 according to FactSet.Deliveries in the first quarter of 2025 dropped 13% from a year earlier to 336,681. Deliveries are the closest approximation of vehicle sales reported by Tesla but are…
Employees at a coal mine in China’s Shaanxi province sit in an office to use digital systems for mining work, according to a photo taken on April 26, 2023, during a media tour organized by Chinese telecoms giant Huawei.Wang Zhao | Afp | Getty ImagesThis report is from this week’s CNBC’s The China Connection newsletter, which brings you insights and analysis on what’s driving the world’s second-largest economy. Each week, we’ll explore the biggest business stories in China, give a lowdown on market moves and help you set up for the week ahead. Like what you see? You can subscribe here.The…
Here are the biggest calls from Wall Street on Wednesday: Compass Point initiates Block as buy Compass says the “fundamentals are set to re-accelerate.” “We are initiating coverage of Block, with a BUY rating and $80 price target.” Jefferies upgrades Apple to hold from underperform Jefferies says it sees the potential for an “upside surprise” when Apple reports earnings in late July. “Jun Q results could be a positive surprise, but Sep Q guidance would likely still be subdued.” Jefferies upgrades Ross to buy from neutral Jefferies says it sees “margin opportunity” for the discount retailer. “We upgrade ROST to…
Microsoft CEO Satya Nadella speaks at Microsoft Build AI Day in Jakarta, Indonesia, on April 30, 2024.Adek Berry | AFP | Getty ImagesMicrosoft said Wednesday that it will lay off about 9,000 employees. The move will affect less than 4% of its global workforce across different teams, geographies and levels of experience, a person familiar with the matter told CNBC.The announcement comes on the second day of Microsoft’s 2026 fiscal year. Executives at the Redmond, Washington-based company typically unveil reorganizations at the time of the new fiscal year.”We continue to implement organizational changes necessary to best position the company and…
The EU and US flags flutter next to the military hub for Ukraine, in Jasionka, south-east Poland on March 6, 2025.Sergei Gapon | Afp | Getty ImagesThe clock is ticking in trade talks between Washington and the European Union, with European officials now saying their best hope is striking a “political” deal before a key July 9 deadline, three sources told CNBC.Concrete details of such a trade arrangement would have to be worked out at a later time.”The U.S. proposal from last week is aimed at an agreement in principle,” one EU official, who did not want to be named…
Honor launched the Honor Magic V5 on Wednesday July 2, as it looks to challenge Samsung in the foldable space.HonorHonor on Wednesday touted the slimness and battery capacity of its newly launched thin foldable phone, as it lays down a fresh challenge to market leader Samsung.The Honor Magic V5 goes will initially go on sale in China, but the Chinese tech firm will likely bring the device to international markets later this year.The company, which spun off from Chinese tech giant Huawei in 2020, is looking to stand out from rivals with key features of the Magic V5, like artificial…
Britain’s Prime Minister Keir Starmer speaks on the phone to U.S. President Donald Trump at a car factory in the West Midlands, Britain, Thursday, May 8, 2025.Alberto Pezzali | Via ReutersU.K. government borrowing costs spiked on Wednesday, amid mounting signs of division within the governing Labour party.The yield on benchmark 10-year government bonds, known as gilts, was 22 basis points higher at 1:33 p.m. in London.Stock Chart IconStock chart iconUK 10 year gilt yieldTensions in the Labour Party leadership came to a head following a government U-turn over a controversial welfare reforms bill. The debate resulted in concessions to rebel…
