Don’t be surprised if a proposal billed as a middle-class tax cut emerges from the White House at some point next year. With the president’s hope to make it an election issue — as recently described by his top economic policy advisor in an interview with CNBC — the idea is to lower taxes on America’s middle earners
Month: November 2019
Elon Musk, co-founder and chief executive officer of Tesla Motors. Yuriko Nakao | Bloomberg | Getty Images (This story is part of the Weekend Brief edition of the Evening Brief newsletter. To sign up for CNBC’s Evening Brief, click here.) Wall Street analysts tend to run in packs, with most stocks finding an informal consensus
A group of Black Friday online shopping purchases photographed in delivery boxes filled with polystyrene packing pellets, taken on September 13, 2019. Future Publishing | Future | Getty Images Black Friday shoppers spent $7.4 billion online, the second largest Internet shopping day ever, according to data compiled by Adobe Analytics. The $7.4 billion marked the
Best Buy is one of many retailers impacted by the U.S.-China trade war. NurPhoto | Getty Images Best Buy shares surged more than 4% in premarket trading after reporting earnings and revenue that beat analysts’ expectations while also raising its earnings guidance. Here’s what Best Buy reported compared to what analysts were expecting, based on
Black Friday shoppers wait to purchase goods at a Best Buy store on November 29, 2019 in Emeryville, United States. Black Friday is traditionally the biggest shopping event of the year, and marks the beginning of the holiday shopping season. Philip Pacheco | Getty Images News | Getty Images Black Friday brick-and-mortar retail sales fell
Thanagon Karaket / EyeEm | EyeEm | Getty Images It’s almost time to turn the calendar over to a new year. And if you’re retired or have inherited a retirement account, that means you’re on deadline to take your required minimum distributions by Dec. 31. RMDs, as they are commonly known, are the minimum amount
Morgan Stanley headquarters in Times Square, New York. Source: Morgan Stanley At least four traders at New York-based Morgan Stanley have been fired or placed on leave after reportedly concealing a loss of between $100 million and $140 million, a new report from Bloomberg News said. The traders in question allegedly mismarked, or purposely mis-priced, some
jeffbergen | E+ | Getty Images The average American is in poor financial health. Those with credit cards carry more than $5,5000 in debt and, according to the American Psychological Association, 81% of Americans say that money is a significant source of stress in their lives. Despite the struggle, the basics of personal finance are
The “big story” for Apple this holiday shopping season won’t be what products consumers buy but how they pay for it, according to D.A. Davidson & Co. analyst Tom Forte. “AirPods Pro [is] a good product, but I think the story for Apple’s holiday sales this year is in payments with the Apple Card,” he
Kayaks are displayed outside of a Dick’s Sporting Goods Inc. store in West Nyack, New York. Craig Warga | Bloomberg | Getty Images Dick’s Sporting Goods on Tuesday reported its strongest same-store sales gains since 2013, as its e-commerce sales grew 13% during the latest quarter, and it sold more apparel and footwear. The company
The National Football League has suspended Arizona Cardinals defensive back Josh Shaw for betting on games, the league announced Friday. Shaw, who is currently on injured reserve, will not be eligible to play for the remainder of the 2019 season, and out indefinitely until at least the conclusion of the 2020 season for betting on
Black Friday has arrived. Certified financial planner Ted Jenkin, CEO and founder of Atlanta-based financial advisory firm oXYGen Financial, has some tips for people heading out to shop. To begin, there are several apps that can help you find the best deals, he said. With Flipp, plug in your zip code and the biggest discounts
Warren Buffett Gerard Miller | CNBC Despite having $128 billion to burn, Warren Buffett just backed out of a bidding war after a slightly higher offer topped Berkshire Hathaway’s. If the Oracle of Omaha is that shy to just spend a tad more of his giant cash pile, could that be saying something about the
If you hit the Mega Millions jackpot in Friday night’s drawing, don’t forget that good ol’ Uncle Sam will be hovering with palm out. After more than two months of twice-weekly drawings with no one matching all six numbers — your chance of doing so is 1 in about 302 million — the top prize
Getty Images Banks are battling to get consumers using their credit cards for holiday shopping. But faster mobile payment options are making that more difficult. As consumers shop on their phones, analysts say they may end up using whichever card is automatically stored instead instead of considering rewards. Gerard du Toit, banking consultant at Bain,
Enrique Lores speaks at the HP Media Day at the 70th Cannes Film Festival at Majestic Barierre on May 22, 2017, in Cannes, France. Pierre Suu | HP | Getty Images HP stock rose as much as 3% on Tuesday after the company showed acceleration in revenue growth in the fiscal fourth quarter and issued
This Black Friday, fewer shoppers are flocking to the mall to snag discounted clothing and electronics. Some stores looked eerily sparse. But that doesn’t necessarily mean spending is going to be weak this holiday season. It’s simply a sign of a fundamental shift happening in the retail industry: More purchasing is moving online. Shoppers already
Petko Ninov | E+ | Getty Images Here’s something that will stoke your road rage: You’re spending thousands of dollars just getting to work. Residents in the Washington, D.C., metro area are coughing up $12,015 each year on average just driving to the office, according to an analysis by Clever Real Estate. The real estate
Robert De Niro, Al Pacino and Ray Romano star in Martin Scorsese’s “The Irishman.” Netflix Netflix’s biggest-ever film investment launches on Wednesday and J.P. Morgan said “The Irishman” could be the catalyst Netflix needs to boost momentum around the stock. After spending $100 million in production on the three-hour-and-30-minute Martin Scorsese film, Netflix is betting
European markets are set to open lower on Friday amid strained relations between the U.S. and China over protests in Hong Kong. The U.K.’s FTSE 100 index is seen falling 15 points to 7,396, Germany’s DAX down 21 points to 13,219 and France’s CAC off by 4 points at 5,905, according to IG data. Sentiment
Ralph Orlowski | Getty Images Dell Technologies cut its full-year revenue forecast on Tuesday as its PC business grapples with a shortage of chips from Intel, sending its shares down nearly 5% in extended trading. Dell is the third-biggest PC maker after China’s Lenovo and HP, with the business accounting for nearly half of its
Escaping the daily hustle and bustle is never easy — and in some places, it’s especially tough. With a population of more than 1.3 billion, India is the world’s second most populous country. It’s expected to overtake China in 2027 to claim the number one position, according to the U.N. Department of Economic and Social
Getty Images If you’ve been racking your brain about where to retire on a budget, it might be time to think outside the U.S. A report by International Living, which publishes information about living overseas, lists destinations where you can coast through retirement on less than $30,000 a year. To be sure, retiring in a
Shares of Under Armour are trading in a bear market after falling 35% from July’s 52-week high, but Raymond James sees a big rally ahead since the company is on “the cusp of a multi-year, profitable, and sustainable growth cycle.” The firm upgraded the stock to a “strong buy” rating on Wednesday, saying the retailer
Tolga Akmen | AFP | Getty Images Barclays has rebalanced its equity focus away from the U.S. and toward Europe and emerging markets for 2020. In its 2020 outlook, published Wednesday, the British lender said it expects European equities to deliver further gains, setting a target for the Stoxx 600 of 430 by the end
Dong Wenjie | Moment | Getty Images Box raised its full-year revenue forecast on Tuesday after reporting better-than-expected third-quarter sales, as the cloud management platform benefited from higher customer addition. Shares of the Redwood City, California-based company rose about 4% in extended trading. Box raised full-year revenue forecast to a range of $693.7 million to
A worker moves a bin filled with products inside of an Amazon fulfillment centre in Robbinsville, New Jersey. Lucas Jackson | Reuters Thanksgiving day celebrations may just be getting started but the holiday is already expected to be a bonanza for retailers. Early data released by Adobe showed online retail sales on Thursday will reach
Anyone planning to roll over all their assets from a traditional individual retirement account to a Roth version might want to pause before making the move. While Roth IRAs grow tax-free and withdrawals generally also are untaxed — and they come with no lifetime required minimum distributions, or RMDs — traditional IRAs have some potential
The Charging Bull near Wall Street is pictured in New York. Carlo Allegri | Reuters The stock market has been hitting record high levels day after day, but that doesn’t mean corporate CEOs are bullish about next year, according to J.P. Morgan Chase regional investment banking head John Richert. Instead, CEOs are worried about delivering
European markets are set to open lower on Thursday, as investors monitored friction between the U.S. and China over the Hong Kong protests. The U.K.’s FTSE 100 is seen down 10 points at 7,405, Germany’s DAX down 22 points at 13,259 and France’s CAC off by 9 points at 5,914, according to IG index data.
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