The Intel headquarters in Santa Clara, California, US, on Wednesday, April 23, 2025. Intel Corp. is scheduled to release earnings figures on April 24. David Paul Morris | Bloomberg | Getty ImagesIntel CFO David Zinsner said President Donald Trump’s tariffs and retaliation from other countries has increased the likelihood of a recession.”The very fluid trade policies in the U.S. and beyond, as well as regulatory risks, have increased the chance of an economic slowdown, with the probability of a recession growing,” Zinsner said on the company’s quarterly earnings call on Thursday.Intel reported better-than-expected first-quarter results, partially because some customers stockpiled…
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President Trump has ordered the U.S. government to take a major step toward mining vast tracts of the ocean floor, a move that nearly every other nation in the world considers off limits to this kind of industrial activity.The executive order, signed Thursday, would circumvent a decades-old international treaty that every major coastal nation except the United States has ratified. It is the latest example of the Trump administration’s willingness to disregard international institutions and is likely to provoke an outcry from the country’s rivals and allies alike.The order “establishes the U.S. as a global leader in seabed mineral exploration…
The ‘Fast Money’ tackles Thursday’s biggest movers including: Hasbro, PepsiCo, and United Rentals. Source link
The Washington Post | The Washington Post | Getty ImagesWarnings of empty store shelves have been in the headlines as multiple press reports indicate that CEOs of America’s top retail stores told President Trump that a prolonged trade war would lead to shortages.When could that become a reality, and what product categories would be hit first?Treasury Secretary Scott Bessent recently described a trade war with China as “unsustainable.”Already, a decline in manufacturing orders from China, and a plummet in Chinese freight vessel bookings and sailings to the U.S., are edging the national supply chain closer to a tipping point. But…
The market’s leading tech stocks don’t hold the same sway they once did, and that may change the ingredients needed for a Wall Street rally. The Roundhill Magnificent 7 ETF (MAGS) — which holds shares of Microsoft , Apple , Alphabet , Tesla , Amazon , Nvidia and Meta Platforms in roughly equal measure — is now down 17% for the year. That’s more than double the drop of almost 7% in the S & P 500 . MAGS YTD mountain This Mag 7 fund is underperforming the broader market in 2025. That underperformance has watered down the Mag 7’s…
Check out the companies making headlines in after-hours trading. Alphabet – Shares of the Google-parent gained about 5% after its first-quarter results topped Wall Street’s expectations. Alphabet earned $2.81 per share on $90.23 billion in revenue for the quarter, while analysts surveyed by LSEG had expected $2.01 per share and $89.12 billion in revenue. Intel – The stock fell almost 6% after the company’s outlook for the current quarter disappointed investors. Intel is calling for revenue for the period to come in at $11.8 billion dollars at its midpoint, less than the average estimate among analysts of $12.82 billion, and…
Even Deutsche Bank’s Binky Chadha, one of Wall Street’s biggest bulls entering 2025, is going back on his optimistic view on equities. The bank’s chief U.S. equity and global strategist cut his year-end S & P 500 target to 6,150 from 7,000. The new forecast signals an advance of just 4.6% from where the benchmark began 2025. The old target pointed to roughly 19% upside. Chadha had the second-highest target on CNBC’s Market Strategist Survey entering 2025. The only one who had a higher forecast was Oppenheimer’s John Stoltzfus, who has also cut his year-end target to 5,950 from 7,100.…
The S & P 500 could drop as low as 3,700 even in a mild recession, according to Wolfe Research. Chris Senyek, the firm’s chief investment strategist, said the S & P 500 could fall to between 3,700 and 4,100 in an economic slowdown. That represents declines of 37% and 30% for the broader index, respectively, from the start of the year. The S & P 500 was last down more than 7% this year, and is 11% below its February all-time high. The S & P 500 touched a bear market earlier this month, following the initial shock of…
“Trump 2028” hat is seen for sale on the Trump Store.Courtesy: Trump StoreThe online store for the Trump Organization on Thursday began selling red hats and t-shirts bearing the message “Trump 2028,” further fueling suspicions that President Donald Trump will seek a third term in the White House despite a constitutional bar to doing so.The White House referred CNBC to the Trump Organization when asked about the apparel. White House Press Secretary Karoline Leavitt told NBC News, “But it’s a cool hat and I suspect it will be highly popular!” The hat costs $50, and a red shirt bearing the “Trump 2028″…
Meta CEO Mark Zuckerberg presents Orion AR Glasses as he makes a keynote speech during the Meta Connect annual event at the company’s headquarters in Menlo Park, California, on Sept. 25, 2024.Manuel Orbegozo | ReutersMeta has laid off employees in its Reality Labs division that is tasked with developing virtual reality, augmented reality and related wearable devices.The cuts affected an unspecified number of employees working in the division’s Oculus Studios unit, which develops VR and AR games and content for Meta’s Quest VR headsets, a company spokesperson told CNBC.”Some teams within Oculus Studios are undergoing shifts in structure and roles…
