Breaking News: Economy
The BRICS bloc is growing — and Trump’s tariff threat isn’t expected to put off aspiring members
Family photo of leaders taken at the 16th BRICS Summit in Kazan, Russia on Oct. 24, 2024. Anadolu | Anadolu | Getty Images President-elect Donald Trump has pledged a 100% tariff against BRICS nations if they continue to undermine the U.S. dollar — but the threat won’t rein in the group’s expansion, analysts tell CNBC. […]
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China’s shipbuilding dominance hurts U.S. and is ‘actionable,’ says U.S. Trade Representative
YANTAI, CHINA – JANUARY 12: Two offshore drilling rigs undergo maintenance at berths inside a shipyard on January 12, 2025 in Yantai, Shandong Province of China. In 2024, China consolidated its lead position in global shipbuilding industry, taking two thirds of orders, according to a report by Clarksons Research. (Photo by Tang Ke/VCG via Getty […]
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Fed Governor Waller sees potential for multiple interest rate cuts in 2025
Key Points Fed Governor Christopher Waller told CNBC on Thursday that the central bank could lower interest rates multiple times this year if inflation eases as he is expecting. “As long as the data comes in good on inflation or continues on that path, then I can certainly see rate cuts happening sooner than maybe […]
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Stocks making the biggest moves midday: UnitedHealth, First Solar, Morgan Stanley, Taiwan Semiconductor and more
Check out the companies making headlines in midday trading. Netflix — The streamer added 1% on the back of Seaport’s upgrade to buy from neutral. The firm put out its call ahead of the company’s earnings report next week. UnitedHealth Group — The stock shed more than 4% after UnitedHealth’s fourth-quarter revenue missed analysts’ expectations. […]
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These Republicans are ready to derail Trump’s tax cuts over the SALT cap
WASHINGTON — An influential group of five House Republicans from high-tax states is threatening to hold up a major tax package that is a top priority for President-elect Donald Trump unless they get a significant boost to the amount that their constituents can deduct from federal income taxes to reflect state and local taxes already […]
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Watch Trump’s Treasury secretary pick Scott Bessent testify live before Senate on tariffs, dollar
President-elect Donald Trump’s pick for Treasury secretary testifies Thursday before the Senate Banking Committee, both stating his case for the position and laying out the economic agenda for the new administration. Businessman Scott Bessent, an investor, hedge fund manager and billionaire political donor who once worked with George Soros, will offer remarks then take questions […]
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Stocks making the biggest moves midday: IonQ, Wells Fargo, Citigroup and more
Check out the companies making headlines in midday trading. Quantum stocks – Quantum computing stocks gained after Microsoft unveiled its quantum-ready plan aimed at preparing businesses for the rise of quantum computers. Nvidia also announced a quantum day at its annual GTC conference. Rigetti Computing rallied more than 18%, while D-Wave Quantum surged nearly 20%. […]
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Here’s the inflation breakdown for December 2024 — in one chart
Key Points The consumer price index, an inflation gauge, rose 2.9% on an annual basis in December. That’s up from 2.7% in November. Energy, food, new and used vehicles, car insurance and airline fares were among the contributors to the increase. There was some good news: “Core” CPI saw disinflation, as did shelter prices. Source
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There’s been a ‘meaningful shift’ in CEO confidence since Trump’s election, says Goldman’s Solomon
Key Points “There has been a meaningful shift in CEO confidence, particularly following the results of the U.S. election,” Goldman Sachs CEO David Solomon said, according to a transcript from FactSet. Donald Trump, who is set to return to the White House on Monday, is seen as broadly more business-friendly than outgoing President Joe Biden. […]
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Oil is no longer an energy security challenge as critical minerals take center stage, Saudi minister says
Aerial view of brine ponds and processing areas of the lithium mine of the Chilean company SQM (Sociedad Quimica Minera) in the Atacama Desert, Calama, Chile, on Sept. 12, 2022. Martin Bernetti | Afp | Getty Images RIYADH, Saudi Arabia – The energy minister of Saudi Arabia – the Gulf kingdom whose wealth and power […]
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