Stocks’ attempt at extending the post-Fed rally failed on Thursday, with all three major averages notching modest losses. Here’s what CNBC is watching Friday. Source link
Author: usaeverydaylife
U.S. Commerce Secretary Howard Lutnick walks with Tesla CEO Elon Musk on the South Lawn, at the White House, in Washington D.C. U.S., March 14, 2025. Nathan Howard | ReutersElon Musk, the world’s richest man and a top adviser to U.S. President Donald Trump, was issued a summons in connection with the Securities and Exchange Commission’s lawsuit against him, a court filing on Thursday showed.A process server gave the civil summons and other documents on March 14 to a security guard at the Brownsville, Texas, headquarters of SpaceX, the space technology company of which Musk is CEO, the filing said. An…
Burned Teslas are shown at a Tesla Collision Center after an individual used incendiary devices to set several vehicles on fire on March 18, 2025 in Las Vegas, Nevada. Ethan Miller | Getty ImagesAttorney General Pam Bondi on Thursday touted federal cases against people accused of setting fire to Tesla cars and property, adding to the Trump administration’s growing vocal support for Elon Musk’s company.Bondi decried a “wave of domestic terrorism against Tesla properties” in a Department of Justice press release that highlighted three defendants charged in connection with Molotov cocktail attacks on Tesla property.Despite the DOJ claiming that Bondi “announced”…
A Tesla store in Alhambra, California on March 11, 2025.Frederic J. Brown | AFP | Getty ImagesAs Elon Musk wraps up his second month in the White House, Tesla owners are trading in their electric vehicles at record levels, according to an analysis by national car shopping site Edmunds.The data from Edmunds published on Thursday said that March represented “the highest ever share” it had seen for Tesla trade-ins toward new or used cars from dealerships selling other brands.Since heading to Washington, D.C. in January as a central figure in the second Trump administration, Musk has been slashing the federal workforce…
The owner of rice shop Tadao Koike carries a bag of rice at his shop in Tokyo on February 14, 2025. Yuichi Yamazaki | Afp | Getty ImagesJapan’s headline inflation rose 3.7% year on year in February, easing from a two-year high of 4% seen in January.Core inflation — which excludes prices of fresh food — was at 3%, lower than January’s figure of 3.2%. However, the core inflation figure was higher with expectations of 2.9% from economists polled by Reuters.The inflation figures come shortly after the Bank of Japan held interest rates steady.The so called “core-core” inflation rate, which strips…
Morgan Stanley analyst Adam Jonas trimmed his price target on Tesla shares, citing weak auto deliveries. Jonas reduced his target to $410 from $430 per share, which still implies shares climbing 73.5% from Thursday’s close. He remained overweight on the name and kept it a “top pick,” however. The analyst cut his first-quarter delivery estimates to 351,000, down more than 9% on a year-over-year basis. That compares to his earlier call for 415,000 deliveries — which would’ve reflected an increase of more than 7% from the year-ago period. Jonas also sees deliveries for the full year declining by about 10%…
CNBC’s Jim Cramer is optimistic on home improvement retailer Home Depot, and he told investors on Thursday that the company could do well even against the backdrop of a tougher macroeconomic environment.”You may be skeptical, thinking that higher interest rates, tariffs are…more important than the specifics of this home improvement chain,” he said. “I disagree. To me, this is when you keep the faith,” adding that investors should buy more if the stock drops.Cramer pointed out that the company seems to be doing well, even though the stock is down from its highs. He suggested that the potential rise of…
Americans are making too many solo dinner reservations.That was one takeaway from the annual World Happiness Report, which was released on Thursday and showed that the United States had dipped to its lowest slot in the country rankings — 24th — after being ranked as high as 11th in 2012, the first year of the report.Americans are increasingly miserable, the report says, and it explored a possible indicator: The number of Americans eating alone has risen exponentially this century.In 2023, according to data from the Bureau of Labor Statistics’s American Time Use Survey, about a quarter of Americans reported eating…
Fang Dongxu/VCG via Getty ImagesThere was an oft-repeated message in Federal Reserve chair Jerome Powell’s press conference on Wednesday: Tariffs will raise consumer prices.The U.S. central bank raised its inflation forecast for 2025, as have many economists, due to the expected impact of a trade war initiated by the Trump administration.”A good part of it is coming from tariffs,” Powell said of the Fed’s elevated inflation estimate.”I do think with the arrival of the tariff inflation, further progress may be delayed,” Powell said.His statement comes at a time when pandemic-era inflation has gradually declined but hasn’t yet been fully tamed…
The world’s aging population is an under-appreciated trend that will help push several stocks higher, according to Mizuho. The oldest cohort will represent an increasingly larger part of the total population as people live longer and fertility rates decline. That will have a big impact on the economy and on companies that serve their needs. An analysis by Mizuho found that spending by American consumers 75 years old and older will nearly double in the next five years. Aggregate spending will increase to $1.6 trillion by 2030 and $2.2 trillion in 2035, from $900 billion now, the analysis showed. What…
