Finance
Alibaba-backed PixVerse launches real-time AI video tool, as Chinese rivals race past OpenAI on speed and cost
Key Points PixVerse co-founder Jaden Xie spoke with CNBC in an exclusive interview about financing and AI slop. The company released a new AI model for generating video in real time. Xie predicts the interactive tech can transform how people watch shows and play video games. Source
Read More
Stocks making the biggest moves premarket: L3Harris, JPMorgan, Delta, Intel, AMD and more
Check out the companies making headlines before the bell: JPMorgan Chase — The banking giant rose around 1% on fourth-quarter figures that beat analyst expectations. JPMorgan earned $5.23 per share, excluding items, on revenue of $46.77 billion. Analysts polled by LSEG expected a profit of $5 on revenue of $46.2 billion. JPMorgan’s beats were driven […]
Read More
JPMorgan Chase is set to report fourth-quarter earnings – here’s what the Street expects
Key Points JPMorgan Chase reports fourth-quarter earnings before the market open Tuesday. Wall Street expects earnings of $5 a share and revenue of $46.2 billion, according to LSEG. JPM executives will host a call with analysts at 8:30 a.m. ET. Source
Read More
Trump targets credit card rates. What’s at stake for Capital One and other banks
Capital One shares dropped more than 6% on Monday after President Donald Trump targeted a key way that our favorite credit card issuer makes money. The weakness in Capital One followed Trump’s call for a one-year, 10% cap on credit card rates to take effect on Jan. 20. In his Truth Social post late Friday […]
Read More
Stocks making the biggest moves midday: Citigroup, Abercrombie, Vistra, Duolingo and more
Check out some of the companies making the biggest moves in midday trading. Bank stocks — The group fell broadly after President Donald Trump called for credit card rates to be capped at 10% for one year . Capital One slid 6%, Synchrony Financial tumbled 8% and Citigroup dropped 3%. Bank of America , Wells […]
Read More
Republican Sen. Thom Tillis vows to block Trump’s Fed nominees following Powell probe
Key Points Sen. Thom Tillis, R-N.C., said he will block any Trump Fed nominees, including for chair, in light of revelations that the Justice Department is investigating Jerome Powell for potential perjury charges. That position substantially complicates the road to replacing Powell, whose term as chair expires in May. While Powell’s term as chair ends […]
Read More
Yellen says Powell probe ‘extremely chilling’ for Fed independence, market should be concerned
Treasury Secretary Janet Yellen speaks with CNBC from the New York Federal Reserve on Sept. 26th, 2024. David A. Grogan | CNBC Former Federal Reserve Chair Janet Yellen on Monday condemned an investigation into her successor, Jerome Powell, saying it compromises the central bank’s independence. Yellen, who served as Treasury secretary after leaving the Fed, […]
Read More
Trump’s credit card rate cap plan has unclear path, ‘devastating’ risks, bank insiders say
Key Points Trump proposed a one-year 10% cap on the interest rates that American credit card companies can charge customers. Shares of Citigroup, JPMorgan Chase, Wells Fargo, Bank of America, Visa, Mastercard, American Express and Capitol One fell in response. It’s unclear how the cap would be enforced, and bank industry insiders say it would […]
Read More
DOJ probe into Fed chair Powell is ‘Maduro’ warning from Trump, analyst says
Key Points U.S. stock futures fell on Monday after the Federal Reserve revealed the DoJ had opened an investigation into its chair, Jerome Powell. The probe raises questions over the central bank’s independence from Donald Trump’s White House and concerns over the credibility of Powell’s successor. One analyst told CNBC that the probe was Trump […]
Read More