President Donald Trump’s potential nominations of Stephen Moore and Herman Cain to the Federal Reserve could be the beginning of a politicization of the central bank, according to Barclays’ chief U.S. economist. “When it comes to nominees, most people that get nominated to the board, regardless of what party is in power, they tend to
Month: April 2019
Lyft has threatened litigation against Morgan Stanley, accusing the firm of supporting short-selling for investors who are subject to lock-up agreements. In a letter sent to Morgan Stanley on April 2, Lyft questioned the firm about its alleged role in helping market certain products that would help pre-IPO investors bet against the stock. CNBC reviewed
Your 401(k) and IRA need help, and you might be missing an opportunity to give them a boost. Across the board, workers of all ages are falling behind in their retirement savings, according to a new survey from the Transamerica Center for Retirement Studies. Baby boomers, the oldest of whom are in their 70s, have
CNBC’s Jim Cramer on Friday said Tradeweb Markets, the electronic trading platform that listed on public markets Thursday, could be worth buying when compared with MarketAxess. Tradeweb, which is backed by Blackstone and a collection of big banks, opened on the Nasdaq at more than $34 after a $27 initial price offering, a deal that
At the age of 14, Joshua Haupt woke up in an ambulance. He was supposed to be in school, but he had suffered a seizure at the breakfast table. Later that day, Haupt was diagnosed with epilepsy. That diagnosis eventually led Haupt, now 32, down the path to become an entrepreneur in the cannabis industry.
Nielsen, the media research firm famous for its TV ratings, is still contemplating an outright sale, fueled by continued private equity interest, according to people familiar with the matter. Advent International is working with Goldman Sachs Group on a bid, as well as Apollo Global Management, said the people, who asked not to be named
CNBC’s Jim Cramer on Friday said Chemical Financial, a regional bank with more than 200 locations, is worth a buy. The Detroit-based bank is on the verge of becoming a powerhouse in the Midwest once its deal for TCF Financial closes in the second half of the year, and analysts are anticipating that it will
It’s no secret that some areas of the country are more expensive to live in than others. Or that salaries, housing costs and taxes can vary. To help figure out how far your money will go based on where you live, new research looks at the amount needed to cover necessities — housing, health care,
About half of American households over the age of 55 have nothing saved for retirement. Those were the findings in a new report from the U.S. Government Accountability Office. In all, 48 percent of those individuals have no savings in a workplace retirement plan or in an IRA as of 2016, the GAO found. The
Apple TV Plus. Apple News Plus. Apple Arcade. Apple Card. All the details still haven’t been announced, like pricing and mechanics, but Apple CEO Tim Cook hosted Hollywood royalty at the company’s Cupertino headquarters last week. The promise: a new model for digital commerce and digital content that emphasizes privacy over targeting and subscriptions over
New highs for stocks? The bull narrative is winning the argument, for now. The S&P 500 is about 1.5% from an historic high, and recent data may help make a run at that record. Friday’s nonfarm payroll report, with 196,000 new jobs in March, was above expectations and will go a long way toward quelling
Shares of Snap popped 5% Friday morning after unveiling a host of new features meant to keep users and advertisers engaged with its platform. Snap added about $700 million to its market capitalization Friday, making it worth about $15.6 billion. Snap has nearly doubled its share price since the beginning of 2019, although shares are
Unhappy with your 2018 tax return? Now’s the time to correct course to avoid the same outcome next year. This spring marks the first time that taxpayers are filing under the Tax Cuts and Jobs Act, an overhaul of the tax code that went into effect in 2018. The new tax law roughly doubled the
Canopy Growth could generate more than $1 billion in revenue by the end of its fiscal year, Constellation Brands CEO Bill Newlands told CNBC Thursday. Constellation, which makes Corona and Modelo beers, has a 38% stake in the cannabis company, which is the largest medical marijuana producer in Canada. “If you look at Canada alone,
MacKenzie Bezos announced on Twitter on Thursday that she and Jeff Bezos have completed the process of dissolving their marriage, leaving her with $35.6 billion in Amazon stock. MacKenzie Bezos said she was “happy” to be giving her ex-husband 75 percent of their stock in Amazon along with voting control of her shares. She also
J.P. Morgan Chase CEO Jamie Dimon did not condemn the White House’s decision to face off with China on trade. Even if it’s a drag in the near-term. When asked whether he thought the trade dispute was one we should have entered into, Dimon said “absolutely.” “We’re better off dealing with it now, whatever that
Constellation Brands said strong beer sales helped it to beat Wall Street’s expectations for its fiscal fourth-quarter as it positions itself to adapt to changing consumer tastes. Shares of the Corona and Modelo beer producer rose as much as 3 percent before losing those gains in premarket trading Thursday. The stock has a market value
Cloud stocks took a tumble during the trading session that was potentially fueled by investment funds raising cash to get ready for the next big initial public offering, CNBC’s Jim Cramer said Thursday. While the S&P 500 tallied its first six-day winning streak in more than a year, the biggest cloud names were in the
It’s a conundrum faced by some pre-retirees: Full-time work soon will be behind them and they’ll need income, yet they want to delay tapping Social Security for as long as possible to maximize those benefits. For people who have other assets available, some advisors recommend that, rather than gradually withdrawing from those funds — such
If you feel confident that you will live comfortably in retirement, you might want to double-check how much you are really saving. A new survey from Natixis Investment Managers finds that 44 percent of American workers who participate in a 401(k) or other workplace retirement plan feel secure about their retirement, as long as they
Manhattan real estate had its worst first quarter since the financial crisis, capping the longest losing streak for sales in over 30 years, according to a new report. Total sales fell 3 percent in the first quarter, according to a report from Douglas Elliman and Miller Samuel. That marked the sixth straight quarter of declines,
America is the richest country in the history of the world, but stagnant wages and lack of opportunity have left too many behind, J.P. Morgan Chase CEO Jamie Dimon said in his annual letter to shareholders Thursday. “Forty percent of American workers earn less than $15 an hour, and about 5% of full-time American workers
It’ll be a bad sign for the market if J.P. Morgan Chase’s stock doesn’t rally when it reports earnings next week, Jim Cramer said Thursday. J.P. Morgan is scheduled to report first-quarter earnings before the market opens on April 12. Cramer, host of CNBC’s “Mad Money,” said the bank has been a “lead dog” of
Three drugmakers will pay $122.6 million to resolve claims they used charities that help cover Medicare patients’ out-of-pocket drug costs as a way to pay kickbacks aimed at encouraging the use of their medications, including some expensive ones. The U.S. Justice Department on Thursday said Jazz Pharmaceuticals, Lundbeck and Alexion Pharmaceuticals had become the latest
A new proposal that would subject wealthy investors to taxes on the appreciation of their holdings — even if they don’t sell — could come with a host of complexities. Sen. Ron Wyden, D-Oregon, announced on Tuesday that he is working on a mark-to-market system that would tax unrealized capital gains on assets owned by
Economic and demographic shifts are making life insurance and annuities more attractive options for fixed income, financial advisors say. “In a typical 60/40 portfolio, because bond returns are at a 50-year low, I’m seeing people moving funds from bonds to either life insurance or income annuities as a substitute,” said Tom Hegna, an insurance industry
CNBC’s Jim Cramer on Wednesday said the packaged food industry appears to be rebounding after falling into trouble waters in recent months. General Mills and J.M. Smucker have lead the way, he said. “As much as I hate to chase, I think General Mills is too cheap and too good to ignore here,” the “Mad
It was the sale that shocked the world — and the housing data. Hedge fund billionaire Ken Griffin’s $238 million purchase of a condo in Manhattan single-handedly boosted the average sales price in Manhattan by more than $100,000 in the first quarter, according to an analysis. A report from Douglas Elliman and Miller Samuel showed
Semiconductors are killing it, and you can thank China. The Semiconductor ETF (SMH) is just shy of the historic high it hit a year ago, and there’s good reason for it: China. The five S&P companies with the biggest exposure to China are all semiconductors. Qualcomm, Micron, Qorvo, Broadcom, and Texas Instruments all get 40%
SpaceX fired up its prototype Starship rocket on Wednesday evening at the company’s facility in southern Texas, CEO Elon Musk confirmed in a tweet. “Starhopper completed tethered hop,” Musk said in a tweet, sharing a video of the apparent test firing. “All systems green,” he added. Musk tweet: Starhopper completed tethered hop. All systems green.