It all comes back to tech, once again. Magnificent Seven earnings kick off in the week ahead, with Alphabet and Tesla the first of the megacaps to report this earnings season at a time when the artificial intelligence trade — along with strong quarterly results and economic data — is once again carrying the market to all-time highs. The S & P 500 reached yet another milestone Friday, with tech driving much of the recent gains. Nvidia alone is up more than 4% this week, after first crossing the $4 trillion milestone last week. Tesla shares are also up more…
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A worker helps board up windows at Joey and Brenda Bermudez’s home that was damage by a recent tornado at the Elkhorn Ranch neighborhood in Elbert County on May 19, 2025. RJ Sangosti | MediaNews Group | Denver Post | Getty ImagesGlobal insured losses for the first half of this year have reached $84 billion, according to a recent Gallagher Re report — the highest first half total since 2011.Violent storms in the U.S. with damaging wind, lightning and hail are driving losses for insurers of more than $30 billion, according to the report from the global reinsurance broker. These…
A passenger passes a giant American flag as they make their way to and from their gates during the Memorial Day weekend getaway at John Wayne Airport Orange County in John Wayne Airport, Santa Ana, CA on Thursday, May 26, 2022. Allen J. Schaben | Los Angeles Times | Getty ImagesCanadian travel dropped sharply in the first half of 2025, according to numbers by U.S. Travel Association.Visits from Canada dropped by nearly 19% over the same time period last year, dragging overall international visits lower by 3.4%.That equates to a decline of $1.9 billion in travel spending. June was especially rough,…
American Express has long benefited from a focus on wealthier customers who appreciate the credit card company’s travel and dining perks.That has helped insulate the company from concerns over a spending slowdown. In the second quarter, total spending on Amex cards jumped 7%, matching the first quarter and higher than the 6% increase a year ago.But travel spending in the quarter was weaker than transactions for goods and services, and that’s specifically because airline spending has stalled out, coming in flat from a year ago, American Express said Friday.Economy class domestic airfare is the source of the weakness, Amex CFO…
President Donald Trump arrives to speak on his plan to end tax on tips in Las Vegas, Jan. 25, 2025.Mandel Ngan | Afp | Getty ImagesPresident Donald Trump’s “big beautiful bill” includes a section called “no tax on tips” — an idea that both Republicans and Democrats floated during the 2024 campaign.Now that the provision has been enacted, questions remain about how the tax break works and who qualifies.Despite its name, “no tax on tips” doesn’t eliminate tax on tips, which are still subject to payroll and state taxes. Instead, it’s a deduction worth up to $25,000. The tax break…
House Speaker Mike Johnson, R-La., said Friday that he and House Republicans want “maximum transparency” on notorious sex offender Jeffrey Epstein and called for more information to be made public.”Everybody wants the Epstein files, which is the real documents related to Jeffrey Epstein, Ghislaine Maxwell and anybody associated with that. We want the American people to see it,” Johnson said on CNBC’s “Squawk Box.”The speaker also insisted that President Donald Trump shares this view. “What I believe in is maximum transparency, and so does President Trump,” said Johnson.The comments came after the Wall Street Journal revealed the existence on Thursday of…
Here are some of the names making big moves in midday trading. Talen Energy – Shares popped more than 23%. Talen said that it has signed agreements to acquire Moxie Freedom Energy Center in Pennsylvania and the Guernsey Power Station in Ohio – a pair of combined-cycle gas-fired plants. The deal comes out to $3.5 billion after adjusting for estimated tax benefits. Shares of data center power plays Constellation Energy and Vistra added more than 5% in sympathy. Invesco – The asset manager’s share price jumped 12%. Bloomberg News reported that Invesco is asking shareholders of its popular Invesco QQQ…
Shares of smid-cap online sports data and gaming company Genius Sports (GENI) are toying with a potential breakout-type move to new 52-week highs — up and out of the tight range in which they’ve been trading since March. The two charts below tell the tale. We’re buyers, with a price objective above $15 per share. DISCLOSURES: none All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE…
Douglas Ingram, president and chief executive officer of Sarepta Therapeutics Inc., during the Forbes Healthcare Summit in New York, US, on Tuesday, Dec. 5, 2023. Michael Nagle | Bloomberg | Getty ImagesShares of Sarepta Therapeutics plunged more than 30% on Friday as the future of its approved gene therapy treatment appeared at risk.The Food and Drug Administration will request that the company voluntarily stop all shipments of the treatment, Elevidys, a person familiar with the matter told CNBC.Separately, FDA Commissioner Marty Makary told Bloomberg News the agency is considering whether the company’s gene therapy should stay on the market.The FDA…
Ranking member Sen. Richard Durbin, D-Ill., arrives for the Senate Judiciary Committee hearing in Dirksen building on Tuesday, June 17, 2025. Tom Williams | CQ-Roll Call, Inc. | Getty ImagesFBI agents assigned earlier this year to review investigative files in the criminal case against notorious sex offender Jeffrey Epstein were instructed to “flag” any documents that mentioned President Donald Trump, Sen. Richard Durbin said Friday.Durbin’s claim came as the Illinois Democrat sent the Justice Department and FBI letters asking them to explain what his office called “apparent discrepancies regarding the handling of the Epstein files and findings from a July 7 Department…
