CNBC

Amazon is hot on Apple’s trail in the race to $1 trillion

Thu, 07/19/2018 - 16:35
Amazon may be in second place, but it has better odds to cross the finish line first in getting to a $1 trillion market cap, market watchers say.

Russia's Achilles heel: Putin still falling short on master plan for aging oil economy

Thu, 07/19/2018 - 16:34
Russian President Vladimir Putin has one big weakness in his master plan to dominate the world stage: an aging oil economy that lacks innovation and globally competitive sectors.

Trump touts his summit with Putin as a 'great success' — but most Americans disagree, new polls show

Thu, 07/19/2018 - 16:32
Trump said his meeting with Putin in Helsinki was considered a triumph among all "except with the real enemy of the people, the Fake News Media."

Don't be duped by these insurance myths. It can be costly

Thu, 07/19/2018 - 16:30
Common misconceptions include what auto and homeowner's policies cover.

Air pollution in national parks as bad as some large US cities, may be causing drop in visitors

Thu, 07/19/2018 - 16:28
Air pollution in national parks such as Yellowstone, Yosemite and Acadia is as bad as some of America's largest cities, and the foul air may be causing tourists to cut visits short or avoid going at all, USA Today reports.

24-year-old law student who's made $147,000 flipping homes gives his best advice

Thu, 07/19/2018 - 16:18
It's a tip he picked up from real estate developer Sidney Torres.

Billionaire Ray Dalio: You have to embrace some pain to maximize success

Thu, 07/19/2018 - 16:16
“There is no avoiding pain, especially if you’re going after ambitious goals,” says the founder of Bridgewater Associates, the world's largest hedge fund.

Fed's banking supervisor backs new interest rate benchmark

Thu, 07/19/2018 - 16:14
The Federal Reserve's banking supervisor gave his backing Thursday to a new interest rate benchmark for institutions to use when lending to each other.

Setback for Trump: Saudi Arabia won't pump much more oil this month, official says

Thu, 07/19/2018 - 16:04
Saudi Arabia's oil production will be little changed in July after rising by nearly 500,000 barrels a day last month, according to the kingdom's OPEC governor.

Leading indicators up slightly more than expected in June

Thu, 07/19/2018 - 16:00
The Conference Board's Leading Economic Index was expected to gain in June.

Watch CNBC's full interview with Steve Bannon at Delivering Alpha

Thu, 07/19/2018 - 15:54
Steve Bannon, former top advisor to President Donald Trump, talked to anchor and reporter Michelle Caruso-Cabrera at CNBC's Delivering Alpha event.

Trump says EU's $5 billion fine on Google is proof the US is being taken advantage of

Thu, 07/19/2018 - 15:38
On Wednesday, the EU hit Google with a $5 billion fine, alleging the company had violated antitrust laws by bundling its apps like Chrome and Google Play with its Android operating system.

Credit Suisse raises its price target for Square by more than 80%

Thu, 07/19/2018 - 15:31
Credit Suisse raises its rating to outperform from neutral for Square shares, citing the increasing breadth of its product offerings for merchants.

Airbus ‘Beluga Whale’ takes flight for the first time

Thu, 07/19/2018 - 15:26
The BelugaXL is a highly modified version of the Airbus A330-200 jetliner.

Trump tried to protect Qualcomm. Now his trade war may be hurting it.

Thu, 07/19/2018 - 15:18
China’s prolonged review of Qualcomm's proposed acquisition of NXP Semiconductors is widely seen by analysts and trade experts as part of Beijing’s retaliation for President Trump’s tariffs on Chinese goods.

Steam pipe explosion in Manhattan's Flatiron District spurs evacuation

Thu, 07/19/2018 - 15:09
The blast occurred around 6:30 a.m. near Fifth Avenue and 21st Street, NBC News reports.

The most important number in finance is going away. Wall St. isn’t prepared.

Thu, 07/19/2018 - 15:08
Libor, a crucial interest rate benchmark, could be gone by 2021. The New York Times reports.

Zuckerberg clarifies stance on policy for Holocaust deniers

Thu, 07/19/2018 - 15:03
Facebook CEO Mark Zuckerberg is clarifying his stance pertaining to Holocaust deniers after getting some blowback on social media.

Joe Biden would be a 'dream' to run against in 2020, Trump says

Thu, 07/19/2018 - 14:59
Trump added that he would be fine running against any of the "group of seven or eight" Democrats and other politicians who may be considering presidential runs.

1 in 3 parents will help their kids pay off student loans

Thu, 07/19/2018 - 14:57
Parents want to help their kids pay for the rising costs of college, but should be wary of putting their own futures at risk. 

Senate, after Helsinki, eyes swift sanctions in case of more election meddling

Thu, 07/19/2018 - 14:54
A bill gaining momentum in the Senate would target key Russian economic sectors with sanctions if U.S. authorities determine that the Kremlin meddled in a U.S. election again.

How to land a great job when you are over 50

Thu, 07/19/2018 - 14:51
More than half of baby boomers plan to work past age 65, studies reveal. Experts explain how job seekers over 50 can overcome stereotypes and land their dream job.

Investment guru Charley Ellis reveals how fund companies hide poor performance

Thu, 07/19/2018 - 14:32
Investors beware: thousands of actively managed mutual funds and ETFs have closed over the years or have merged. Many are merged into existing funds and hide poor performance statistics.

US weekly jobless claims drop to more than 48 1/2-year low

Thu, 07/19/2018 - 14:30
The number of Americans filing for unemployment benefits unexpectedly fell last week.

Commerce department opens hearings on auto tariffs

Thu, 07/19/2018 - 14:27
The Commerce Department is holding two days of hearings on whether the U.S. should raise tariffs on vehicles built in Europe and sold in the U.S. The U.S. currently has a $32 billion auto trade deficit with Europe, meaning Americans buy $32 billion more in European cars than U.S. automakers sell back to consumers in the EU. Automakers such as BMW and Mercedes also built vehicles in U.S. factories, especially popular crossovers and SUVs. Reports have recently surfaced that the EU is prepared to lower tariffs

The EU is making a retaliation list to strike back if the US hits European cars with tariffs

Thu, 07/19/2018 - 14:16
The European Union is making a list of goods it could target as a way to retaliate against potential tariffs on European cars, an EU official said Thursday.

Domino's stock slips on revenue miss, weak same-store sales growth

Thu, 07/19/2018 - 14:16
Shares of Domino's Pizza tumbled Thursday after the company posted weaker-than-expected second-quarter revenue and same-store sales.

The S&P 500 is now just 2% from a record and tech earnings could push it over the top

Thu, 07/19/2018 - 14:06
Traders believe three main factors have been helping markets recently and need to continue to pass the old historic S&P historic high of January.

Putin says there are 'powerful forces' trying to damage US-Russia relations

Thu, 07/19/2018 - 14:05
Russian President Vladimir Putin has said there are "forces" at work that are trying to hamper any improvement in U.S.-Russia relations

Procter & Gamble shares downgraded by UBS because of rising inflation

Thu, 07/19/2018 - 14:01
UBS lowers its rating for Procter & Gamble shares to neutral from buy, predicting the company will report earnings below expectations in its next fiscal year.

Almost 70% of millennials regret buying their homes. Here's why.

Thu, 07/19/2018 - 14:00
About four in 10 millennials are homeowners, but they're not necessarily happy about it. 

Regulators consider allowing drug importation when US access is strained

Thu, 07/19/2018 - 14:00
The Food and Drug Administration is forming a working group to consider allowing short-term importation of foreign versions of medicines facing “access dislocations.”

Biggest threat to markets and economy is a Democrat win in November, Trump advisor Hassett says

Thu, 07/19/2018 - 13:54
The main thing that could derail markets and the economy would be a Democrat takeover of Congress, White House economic advisor Kevin Hassett said Thursday.

Stocks making the biggest moves premarket: TRV, IBM, AXP, QCOM, EBAY & more

Thu, 07/19/2018 - 13:46
Names on the move ahead of the open.

JP Morgan says Amazon is a ‘top pick,’ recommends internet giant into its earnings report next week

Thu, 07/19/2018 - 13:41
J.P. Morgan reiterates its overweight rating for Amazon shares, predicting the company will report sales above expectations for its second quarter.

Ivanka Trump: We are pushing for more education for mid- and late-career workers

Thu, 07/19/2018 - 13:37
Trump, who is President Donald Trump's elder daughter and a senior White House advisor, was speaking to anchor Joe Kernen on CNBC's "Squawk Box."

A staunch bitcoin bear says this recent surge might have legs

Thu, 07/19/2018 - 13:35
Bitcoin is showing signs of life after falling for months. A longtime bitcoin bear, Boris Schlossberg of BK Asset Management, says this recent surge might have legs.

Trump thanks Novartis, Pfizer for not raising drug prices

Thu, 07/19/2018 - 13:19
U.S. President Donald Trump thanked two major drug companies on Thursday for not raising their prices.

Family of KFC’s Colonel Sanders defends him amid Papa John’s racial slur scandal

Thu, 07/19/2018 - 12:59
The family of KFC’s Colonel Harland Sanders has come to his defense after Papa John’s founder John Schnatter suggested the colonel had used the N-word but hadn’t faced criticism for doing so.  

Trump trade advisor Peter Navarro: 'Zero-sum game' between China and the rest of the world

Thu, 07/19/2018 - 12:52
Navarro, who spoke to CNBC's Joe Kernen on "Squawk Box," is known for his hawkish economic stances on China.

Tesla shares fall after Needham downgrades to sell, citing possible increase in Model 3 cancellations

Thu, 07/19/2018 - 12:46
Tesla shares fell on Thursday after Needham & Co downgraded the stock to sell from hold, citing a possible pick-up in Model 3 cancellations.

New York governor opens the door to a criminal case against the Trump Foundation

Thu, 07/19/2018 - 12:37
New York Governor Andrew Cuomo on Wednesday opened the door to a possible criminal case against the Donald J. Trump Foundation.

Farnborough Airshow: Six aircraft that are grabbing attention

Thu, 07/19/2018 - 11:59
Aerospace & Defense manufacturers are vying for business at the biannual trade show.

Britain has reportedly identified Russians suspected of Skripal nerve attack

Thu, 07/19/2018 - 11:08
British police have identified several Russians who they believe were behind the nerve agent attack on former double agent Sergei Skripal and his daughter, the Press Association reported.

More turmoil in Iraq as deadly protests ravage oil-rich south

Thu, 07/19/2018 - 11:03
The unrest threatens to delay formation of a new government and has already led to break-ins to oil facilities and political offices.  

‘Shocking' and 'bogus': China's foreign ministry rebukes Kudlow for trade remarks

Thu, 07/19/2018 - 10:58
China’s foreign ministry hit back at comments made by President Donald Trump’s top economic advisor on Thursday, saying it is clear who is right and who is wrong in an escalating trade row between the world’s two largest economies.

Silicon Valley taught me this secret about great business ideas, says Hong Kong entrepreneur

Thu, 07/19/2018 - 10:44
Ideas are a dime a dozen, or so they say, but finding one that can go the distance is a different story. 9GAG's co-founder and CEO says Silicon Valley showed him the secret recipe.

Saudi Aramco in talks for stake in world's fourth-largest chemical firm

Thu, 07/19/2018 - 10:38
Saudi Aramco said it is looking to buy a stake in Saudi petrochemical maker SABIC, a move that could boost the state oil giant's market valuation ahead of a planned initial public offering.

Trump's tariffs could derail Volvo’s production plans in the US, CEO warns

Thu, 07/19/2018 - 09:01
The Swedish automaker Volvo could derail a $1.1 billion investment plan in the U.S. amid rising tensions in global trade, the company’s CEO told CNBC Thursday, calling for a de-escalation in tariffs.

The Japan-China rivalry is playing out in Cambodia's election

Thu, 07/19/2018 - 07:20
China has donated a reported $20 million in polling booths, laptops, computers and other equipment to Cambodia's National Election Committee. Tokyo, meanwhile, has reportedly provided over 10,000 ballot boxes worth $7.5 million.

As Japan grows 'so-so,' one of its largest companies looks for international expansion

Thu, 07/19/2018 - 06:15
Masatsugu Nagato, president and CEO of Japan Post, spoke with CNBC at the launch of Toll City, a logistics hub situated in western Singapore.

Before inauguration, Trump reportedly saw evidence Putin personally ordered election interference

Thu, 07/19/2018 - 05:24
Trump sounded “grudgingly convinced” when he was shown the findings of Putin’s interference on Jan. 6 of last year — just two weeks before his inauguration, according to The New York Times, which cited multiple people who attended the briefing.

One of the world's major financial centers is about to shake up its banking sector

Thu, 07/19/2018 - 04:49
Hong Kong is getting ready for the arrival of virtual banks, for which all transactions will be online.

Chinese tech giant Tencent plans to expand its US footprint — despite ongoing trade war

Thu, 07/19/2018 - 04:20
Tencent hinted at signing more merchants up to WeChat Pay in the U.S. despite the ongoing trade war between the U.S. and China.

Ethereum may drive blockchain to be as broadly adopted as the Internet, fintech CEO says

Thu, 07/19/2018 - 04:05
Ethereum could be a major driving force for blockchain and cryptocurrency, says Circle CEO and co-founder Jeremy Allaire.

Here's how much your next car could cost if Trump auto tariffs go through

Thu, 07/19/2018 - 01:02
The price of a new car could jump by between $1,400 and $7,000 for top-selling models, if the Trump administration moves ahead with tariffs on imported automobiles and auto parts, according to Peterson Institute for International Economics.

Cramer Remix: Don’t despair about the transports’ weakness

Thu, 07/19/2018 - 00:59
Jim Cramer explains why investors shouldn’t worry about the slumping transportation stocks after United Continental’s quarter.

Electric scooters on collision course with pedestrians and lawmakers

Thu, 07/19/2018 - 00:31
The electric rideable phenomenon is very new but growing rapidly, so the need for research on electric rideables is as urgent as the need for action, a Professorial Fellow presents his evidence in The Conversation. 

Big banks like Deutsche choose IBM to run their blockchain for 3 reasons, IBM executive says

Thu, 07/19/2018 - 00:25
Jim Cramer sits down with Martin Schroeter, senior vice president of IBM global markets, who says IBM is a leading choice for blockchain implementation among international companies.

Video game industry is booming with continued revenue

Thu, 07/19/2018 - 00:15
The video game industry is growing with new products and technology and could be worth nearly $138 billion by the end of the year.   

US judge denies Paul Manafort's request to suppress evidence in special counsel Mueller case

Thu, 07/19/2018 - 00:12
Manafort's lawyers had sought to limit the scope of evidence that prosecutors can rely on for his upcoming September trial in Washington, D.C., claiming that the search warrant was overly broad and unconstitutional.

Cramer: If you own shares in companies with business in China, you should be worried

Thu, 07/19/2018 - 00:11
Jim Cramer warns investors of Boeing, Caterpillar and other China-reliant stocks that the trade war could still get worse.

After-hours buzz: AXP, EBAY & more

Thu, 07/19/2018 - 00:05
See which stocks are posting big moves after the bell.

Trump says he holds Putin personally responsible for election meddling

Wed, 07/18/2018 - 23:56
President Donald Trump said on Wednesday he holds Russian President Vladimir Putin personally responsible for Russia's meddling in the 2016 U.S. presidential election.

Cisco shares rise on report that Amazon isn't building rival hardware

Wed, 07/18/2018 - 23:45
Cisco rose in extended trading after a report from MarketWatch that AWS isn't likely to compete in the switching market.

Wells Fargo's asset management chief sees a stock-picking rebirth

Wed, 07/18/2018 - 23:44
Wells Fargo Asset Management Kristi Mitchem says active managers may see a resurgence as the early signs of market risk start to show.

Court blocks measure asking voters to split California in 3

Wed, 07/18/2018 - 23:42
A measure that would divide California into three parts won’t appear on the ballot in November, the state Supreme Court decided Wednesday.

'The meddling was on the margin': Steve Bannon downplays Russia's impact on the 2016 election

Wed, 07/18/2018 - 23:39
"I think it changed maybe $100,000 worth of Facebook ads? Give me a break. The meddling was on the margin," Bannon said.

Russia's claims about Americans it seeks to question are 'absurd,' says State Department

Wed, 07/18/2018 - 23:20
But a department spokeswoman stopped short of saying the United States would refuse to assist Russia in its efforts to question individuals about alleged "crimes" against the Russian state.

Steve Bannon says he owns bitcoin and is working on his own cryptocurrency

Wed, 07/18/2018 - 23:18
His comments came from the Delivering Alpha conference in New York.

Barack Obama on wealth inequality: ‘There’s only so much you can eat’

Wed, 07/18/2018 - 23:09
“I’m actually surprised by how much money I got,” the 44th President said. 

Facebook will begin taking down fake news intended to encourage violence

Wed, 07/18/2018 - 23:04
Facebook will begin taking down fake news and misinformation is intended to immediately incite violence and other physical harm.

Former Trump advisor Steve Bannon: 'We're at war with China'

Wed, 07/18/2018 - 22:59
Bannon, the former White House chief strategist, was speaking at CNBC's Delivering Alpha.

If the first men on the moon had become stranded, President Nixon would have given this speech

Wed, 07/18/2018 - 22:33
White House speechwriter Bill Safire penned the address "In event of moon disaster" on July 18, 1969.

CSX shoots up 7% to all-time high after strong second quarter results

Wed, 07/18/2018 - 22:32
Shares of rail transportation company CSX climbed more than 7 percent on Wednesday after the company beat analysts' expectations on both earnings and revenue for its second financial quarter.

Billionaire investor David Rubenstein says two more interest rate hikes won't hurt the economy

Wed, 07/18/2018 - 22:23
Some investors fear that additional Federal Reserve interest rate hikes could slow down the economy. But billionaire investor David Rubenstein says the economy is strong enough right now to withstand it. 

Bonomo becomes winningest poker player ever

Wed, 07/18/2018 - 22:05
Justin Bonomo has now won more money playing poker tournaments than anyone else in history.

Digital Currency Group's Silbert buys more bitcoin, says it has 'hit the bottom for the year'

Wed, 07/18/2018 - 22:03
Digital Currency Group's Barry Silbert is a big proponent of cryptocurrencies as an asset class.

'Quadrillion tons of diamond' may be buried 100 miles under Earth's surface

Wed, 07/18/2018 - 22:00
There might be a quadrillion tons of diamond hiding so deep beneath the Earth's surface that no drill in existence can reach them, according to USA Today. 

Warren Buffett finds an 'elephant' in Berkshire's own backyard

Wed, 07/18/2018 - 21:51
Warren Buffett has looked around for suitable ways to invest Berkshire Hathaway's $106 billion cash hoard, and he has finally come up with an idea: Berkshire Hathaway.

When end-of-life planning is suddenly a lot closer than you thought

Wed, 07/18/2018 - 21:31
A sudden medical diagnosis can mean the need to plan your finances. Here's how to keep calm and organize some top considerations. 

IBM set to report earnings after the bell

Wed, 07/18/2018 - 21:30
IBM reports second-quarter earnings

Billionaire investor Howard Marks is worried about FANG stocks: Things that are most hyped tend to 'produce the most pain’

Wed, 07/18/2018 - 21:26
Howard Marks shares his market views at the Delivering Alpha Conference in New York on Wednesday.

Billionaire investor Marks says bitcoin will be shown 'not to have any substance'

Wed, 07/18/2018 - 21:10
Billionaire investor Howard Marks took aim at bitcoin in remarks Wednesday.

Large retailers see more than 50% bump in online sales on Prime Day

Wed, 07/18/2018 - 21:10
According to Adobe Analytics, retailers with more than $1 billion in revenue saw a 54 percent increase in sales on Prime Day, compared with an average Tuesday.

Hedge fund manager Denner names Biogen his top pick at Delivering Alpha conference

Wed, 07/18/2018 - 21:04
The hedge fund manager spoke at the Delivering Alpha Conference in New York on Wednesday.

Billionaire Marc Lasry doubled his investment in an NBA team—here’s why he won’t sell

Wed, 07/18/2018 - 20:55
"It’s one of the most fun things I’ve ever done," he tells CNBC.

Warren Buffett just gave this college newspaper $100,000 worth of stock

Wed, 07/18/2018 - 20:51
The 117-year-old paper just got a boost from Buffett. 

Is United Airlines ready for a trade war or recession? Investors want to know

Wed, 07/18/2018 - 20:50
Geopolitical risks like rising trade tensions between the U.S. and other nations could crimp demand for corporate travel.

David Rubenstein: Democrats winning the House in November is no longer 'conventional wisdom'

Wed, 07/18/2018 - 20:50
Carlyle Group's David Rubenstein said House win for Democrats tougher because of continued strength of the economy.

Hedge funds ‘destroying enormous value for institutional investors’: Illinois investment board chair

Wed, 07/18/2018 - 20:49
Illinois isn’t rethinking its decision to stop investing in hedge funds, says Illinois State Board of Investment Chair Marc Levine.

Margate's Greenberg says her favorite stock idea is gamemaker Take-Two at Delivering Alpha

Wed, 07/18/2018 - 20:49
Hedge fund manager Samantha Greenberg is a big believer in the future of Take-Two Interactive.

AutoZone, O'Reilly fend off Amazon and Walmart in battle over auto parts market ... for now

Wed, 07/18/2018 - 20:47
Stores that sell car batteries, mufflers and other parts are facing new pressure since Amazon started selling auto parts online last year. Big retailers like Walmart have also jumped into the fray, in part, to compete against Amazon. So far, auto parts retailers have been spared from sharing the same fate as Barnes & Noble, Toys R Us and so many other companies rendered redundant by Amazon.

Watch: White House holds first briefing since Trump-Putin summit

Wed, 07/18/2018 - 20:30
Sanders may also take questions on comments the president made on Tuesday regarding U.S. security guarantees to Montenegro. 

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