Eunice Yoon, CNBC Business News, joins ‘Fast Money’ to talk the sentiment in China over U.S. tariffs. Source link
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Jakub Porzycki | Nurphoto | Getty ImagesThe SEC has formally dropped its lawsuit against Binance and founder Changpeng Zhao, bringing an end to one of the last remaining crypto enforcement actions brought by the agency.In a Thursday filing in the U.S. District Court for the District of Columbia, lawyers for the SEC and Binance jointly moved to dismiss the case, which was first brought in June 2023. The case had accused the crypto exchange of illegally serving U.S. users, inflating trading volumes, and commingling customer funds.This is breaking news. Check back for updates. Source link
The neighborhood once known as Boca Chica Village is seen near the SpaceX facilities where they build rockets in Brownsville, Texas, on May 3, 2025. Gabriel Cardenas | AFP | Getty ImagesStarbase, Texas, has notified some residents that they might “lose the right to continue using” their property as they do today, according to a memo obtained by CNBC.The town, home to Elon Musk’s SpaceX, is considering a new zoning ordinance and citywide map.The notice, sent to property owners in a proposed “Mixed Use District,” would allow for “residential, office, retail, and small-scale service uses.”Starbase plans to host a public…
The sign on the side of a Costco is seen in Hawthorne, California, on April 4, 2025.Jay L Clendenin | Getty ImagesCostco on Thursday posted quarterly earnings and revenue that topped estimates as its sales climbed 8%.Here’s how the warehouse club retailer did in its fiscal third quarter compared what Wall Street was expecting, based on a survey of analysts by LSEG:Earnings per share: $4.28 vs. $4.24 expectedRevenue: $63.21 billion vs. $63.19 billion expectedCostco’s net income for the three-month period that ended May 11 rose to $1.90 billion, or $4.28 per share, compared to $1.68 billion, or $3.78 a year earlier. Revenue rose from…
The stock market is set to end May with strong returns, but that may actually work against equities on Friday. A note from the Goldman Sachs trading desk showed that U.S. pension funds are expected to sell $20 billion of equities as part of their month-end rebalancing. That total dollar value ranks in the 86th percentile for net buying or selling in similar rebalances since 2000, according to Goldman. The reason is many pension plans have target allocations for the relative value of their stock holdings versus other assets like bonds or private equity — a large scale version of…
People walk past the entrance of a Gap store in Paris, France, July 1, 2021. Sarah Meyssonnier | ReutersGap said new tariffs could impact its business by $100 million to $150 million, if they remain in effect, the company said Thursday when announcing fiscal first-quarter earnings. Shares fell more than 15% in after-hours trading.In a news release, Gap said new 30% duties on imports from China and a 10% levy on imports from most other countries will cost the company between $250 million to $300 million without mitigation efforts. For now, it’s leaving that impact out of its guidance. The company said…
A Dell Technologies sign is seen in Round Rock, Texas, on June 2, 2023.Brandon Bell | Getty ImagesShares of Dell Technologies rose on Thursday in extended trading after the company raised its full-year earnings forecast and issued a stronger-than-expected forecast for the current quarter.However, Dell’s adjusted earnings per share came up short versus LSEG estimates on in-line revenue.Here’s how the computer maker did versus LSEG consensus estimates:Earnings per share: $1.55 adjusted vs. $1.69 estimatedRevenue: $23.38 billion vs. $23.14 billion estimatedDell said it expects $2.25 in adjusted earnings per share for the current quarter, with between $28.5 billion and $29.5 billion…
US Vice President JD Vance attends a meeting of the White House Task Force on the FIFA World Cup 2026, in the East Room of the White house in Washington, DC, on May 6, 2025. The soccer world championship will take place from June 11 to July 19, 2026, and will be hosted by the US, Canada and Mexico. Jim Watson | Afp | Getty ImagesPresident Donald Trump’s administration has emerged as a staunch defender of Alternative for Germany, a political party with Nazi echoes that has risen in popularity — and that German intelligence officials recently classified as a “proven right-wing…
Crypto’s stablecoin sector is becoming increasingly attractive to traditional financial services players, something that could have big implications for payments stocks, according to Wells Fargo. Stablecoins are cryptocurrencies whose values are pegged to that of another asset, usually the dollar. They are designed to bring the stability of traditional currencies to blockchain networks (praised for the speed and efficiency they provide money transfers). Traditionally used as bridge currencies for crypto traders, banks and payment firms are becoming interested in them as the Trump administration rolls back restrictive Biden-era crypto policies and Congress makes progress on passing stablecoin legislation by August.…
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Markets: Stocks rose modestly Thursday but were well off their highest levels of the session. The strong quarter from Club name Nvidia is lifting the broader artificial intelligence trade. As we explained in our earnings commentary Wednesday night, four positive developments have gone Nvidia’s way since its annual GTC event in March, fueling additional momentum in its business. The market also got a brief boost after the U.S. Court of International…
