United States
The Iran war could cost the American taxpayer $1 trillion, says Harvard academic
Source: U.S. Navy | Flickr The Iran war could end up costing U.S. taxpayers far more than official figures suggest, according to the analysis of one Harvard academic. The first 6 days of the the joint U.S.-Israeli operation against the Islamic Republic, beginning February 28, racked up costs of $11.3 billion, according to the Pentagon’s […]
Read More
LVMH stock drops as analysts flag luxury recovery ‘party postponed’ amid Iran war
A sign on the exterior of a Louis Vuitton luxury boutique operated by LVMH Moet Hennessy Louis SE is pictured in Paris, France, January 25, 2024. Benoit Tessier | Reuters Shares of LVMH dropped Tuesday after it flagged a hit to sales from the Iran war, overshadowing underlying improvements. The luxury conglomerate missed sales expectations […]
Read More
JPMorgan earnings, Oracle’s $300 million windfall, new Delta suites and more in Morning Squawk
This is CNBC’s Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Good morning. If you’re looking for someone to blame for the rising cost of your Netflix subscription, you might take a look at Wall Street. CNBC’s Sarah Whitten and Lillian Rizzo explain how investors’ focus on profitability is prompting streamers to hike […]
Read More
Citigroup beats estimates, boosted by gains in fixed income
Jane Fraser, CEO of CitiGroup, speaking at the World Economic Forum in Davos, Switzerland on Jan. 20th, 2026. Oscar Molina | CNBC Citigroup beat on the top and bottom lines during the first quarter. Here’s what the firm reported on Tuesday, compared with Wall Street estimates compiled by LSEG: Earnings per share: $3.06 vs. $2.65 […]
Read More
Democrats raised $500 million in Q1 from party’s main fundraising platform
Douglas Rissing | Istock | Getty Images ActBlue, a donation website helping Democratic candidates raise small-dollar donations raised $568 million in the first quarter of the year, according to the organization. That’s a 50% increase over what was raised in the same quarter during the last midterms in 2022. The total included $391 million to […]
Read More
China calls U.S. blockade of the Strait of Hormuz ‘dangerous and irresponsible’
China has called the U.S. blockade of Iranian ports in the Strait of Hormuz a “dangerous and irresponsible act” that will further enflame tensions in the region. The Ministry of Foreign Affairs said Tuesday that the targeted blockade of the vital shipping channel, which began at 10:00 a.m. ET on Monday, coupled with an increase […]
Read More
European markets set to rise on hopes that Iran peace talks can resume
Traders work on the floor of the New York Stock Exchange during morning trading on April 13, 2026 in New York City. Michael M. Santiago | Getty Images LONDON — European stocks are expected to open higher on Tuesday amid hopes that U.S.-Iran peace talks could resume despite a blockade on Iranian ports coming into […]
Read More
China exports miss estimates in March, imports post best growth in more than four years
A cargo ship loaded with foreign trade containers sails towards the open sea in Jiaozhou Bay, Qingdao, Shandong, China, on April 13, 2026. Costfoto | Nurphoto | Getty Images China’s export growth slowed in March as manufacturers grappled with surging commodity and energy costs due to the Middle East conflict disrupting supplies, while imports logged […]
Read More
CNBC Daily Open: Markets bet on a U.S.-Iran deal amid Hormuz blockade
Hello, this is Anniek Bao writing to you from Singapore. Welcome to another edition of CNBC’s Daily Open. The dominant story is still the Strait of Hormuz, and it’s getting more complicated by the hour. Oil has dropped below $100 per barrel on signs that diplomatic efforts for resolving the Mideast conflict are ongoing, even […]
Read More
Oil falls as Vance comments raise hopes for a diplomatic resolution to Mideast conflict
An aerial view shows the Chevron EL Segundo refinery, one of the largest petroleum processing facilities in California, on April 8, 2026 as seen from above Manhattan Beach, California. Mario Tama | Getty Images Oil prices fell Tuesday as traders weighed a U.S. blockade of Iranian shipping and signs that Washington and Tehran could still […]
Read More