Piper Sandler agrees with Donald Trump that the Federal Reserve needs to lower rates, as the president’s barbs at Chair Jerome Powell grow louder. “Politics aside, [Trump] isn’t wrong. Just because the overall economy and market, which is increasingly a reflection of the largest businesses and wealthiest consumers, appears to be chugging along doesn’t mean that lower rates aren’t warranted,” Michael Kantrowitz, the firm’s chief investment strategist, wrote. “Historically speaking, every single broad-based improvement in the U.S. economy began with an improvement in housing, and for that to occur we’ll need to see lower rates.” Kantrowitz noted that just a…
Author: usaeverydaylife
Top executives from tech, media and finance gathered in Sun Valley, Idaho, for Allen & Co.’s annual conference this week, an event that is often referred to as “summer camp for billionaires.”Apple CEO Tim Cook, Walmart CEO Doug McMillon, Disney CEO Bob Iger and OpenAI CEO Sam Altman were all pictured entering the lodge.Wednesday’s agenda includes interviews with Amazon CEO Andy Jassy, Treasury Secretary Scott Bessent and IAC Chairman Barry Diller, sources told CNBC’s Julia Boorstin.When he arrived on Tuesday, Altman said he is not concerned about the artificial intelligence talent war and that he would talk to Meta CEO…
An Amazon employee works to fulfill same-day orders during Cyber Monday, one of the company’s busiest days at an Amazon fulfillment center on December 2, 2024 in Orlando, Florida. Miguel J. Rodriguez Carrillo | Getty ImagesU.S. online sales jumped 9.9% year over year to $7.9 billion on Tuesday, the kickoff of Amazon’s Prime Day megasale, according to Adobe Analytics.At that level, it marks the “single biggest e-commerce day so far this year,” Adobe said. It also eclipsed total online spending during Thanksgiving last year, when sales on the holiday reached $6.1 billion.Amazon’s Prime Day bargain blitz began on Tuesday and lasts…
Hims & Hers Health announced Wednesday it will offer generic semaglutide in Canada as Novo Nordisk’s patent on its branded drugs Ozempic and Wegovy is set to expire in January.”Canada is a major opportunity to show what affordable, high-quality weight loss care can look like,” said Andrew Dudum, co-founder and CEO of Hims & Hers, in a press release. “As generic semaglutide becomes available for the first time globally, we’re focused on making it truly accessible, by combining affordability with trusted, personalized care at scale.” Hims, a telehealth platform, joins a growing list of drugmakers that are looking to cash in…
A view of the Consumer Financial Protection Bureau headquarters in Washington. Saul Loeb | Afp | Getty ImagesA massive tax and spending law that President Donald Trump signed last week slashes the Consumer Financial Protection Bureau’s annual budget — and critics of the move say they fear it may lead to less oversight of financial firms and bring more harm to consumers.”There’s no way to paint a positive picture about it,” said Adam Rust, director of financial services at the Consumer Federation of America, a consumer advocacy group.The CFPB was created in the wake of the 2008 financial crisis to…
T-Mobile (TMUS) has started to face increasing headwinds despite industry leading performance. Slowing subscriber growth, stretched valuations and elevated debt levels collectively form a compelling case for seeking bearish exposure. With TMUS’s recent underperformance, I’m laying out a bearish options strategy to capitalize on potential downside. Trade Timing The timing for initiating bearish exposure in TMUS is optimal, as the stock recently has underperformed both its sector and the overall market. Additionally, a recent rally to the bearish trendline, provides an optimal entry point for maximizing risk to reward for bearish exposure. This technical set-up, combined with deteriorating relative strength…
Miners exposed to U.S. copper prices on the Chicago Mercantile Exchange, or CME, are the biggest beneficiaries of President Donald Trump’s 50% tariffs on the metal, according to Bank of America. Trump’s abruptly announced tariff sent copper prices soaring Tuesday, with the September futures contract on the CME jumping about 13% to post it highest settle ever and best daily performance since 1989. Two key copper stocks with exposure to CME pricing are Freeport-McMoRan and Southern Copper , according to Bank of America analysts. About 36% of Freeport’s estimated 2025 revenues are attributable to U.S. copper prices, while 40% of…
Russian President Vladimir Putin and U.S. President Donald Trump.Mikhail Metzel | Evelyn Hockstein | Via ReutersPresident Donald Trump told campaign donors last year that he had threatened to “bomb the s–t out of Moscow” if Russian President Vladimir Putin invaded Ukraine, according to a new report.Trump at the same donor meeting claimed he similarly threatened Chinese President Xi Jinping to deter China from invading Taiwan, according to audio obtained by CNN and detailed in a forthcoming book, “2024.””With Putin I said, ‘If you go into Ukraine, I’m going to bomb the sh– out of Moscow,” Trump told donors at the…
Linda Yaccarino, CEO, X/Twitter speaks onstage during Vox Media’s 2023 Code Conference at The Ritz-Carlton, Laguna Niguel on September 27, 2023 in Dana Point, California. Jerod Harris | Getty Images Entertainment | Getty ImagesLinda Yaccarino on Wednesday announced she is stepping down as CEO of Elon Musk’s social media site X after two years in the role.Yaccarino’s departure comes one day after Musk’s artificial intelligence chatbot Grok repeatedly made antisemitic comments on Tuesday and referenced Hitler in response to posts about the Texas flooding. Grok is built by Musk’s company xAI and is integrated with his social media site X. “When @elonmusk…
The Galaxy Z Fold 7 is super thin, measuring just 8.9 millimeters when closed and 4.2 millimeters when unfolded.Ryan Browne | CNBCSamsung on Wednesday launched three new folding smartphones — including thinner top-end devices and a cheaper version of its flip phone — as the tech giant looks to entice buyers to make the switch to foldables.The main new additions to Samsung’s foldable phone range are the Galaxy Z Fold 7, which folds like a book, and the Galaxy Z Flip 7, which takes on the form of the classic clamshell-style flip phones. Samsung also announced a cheaper version of its…
