This earnings season is ‘about as good as it gets’: J.P. Morgan’s David Kelly

This earnings season is ‘about as good as it gets’: J.P. Morgan’s David Kelly

Investors will have to live with the fact that this earnings season is “about as good as it gets,” David Kelly, chief global strategist at J.P. Morgan Asset Management, told CNBC on Friday. Of the S&P 500 companies that have reported first-quarter results so far, 79.4 percent have topped analyst expectations, according to FactSet. “This is an extraordinary earnings season,” Kelly said on “Closing Bell.” “The only negative is this is about as good as…

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Trump administration is likely to extend steel and aluminum tariff exemptions beyond May 1, sources say

Trump administration is likely to extend steel and aluminum tariff exemptions beyond May 1, sources say

The May 1 deadline for steel and aluminum tariff exemptions for U.S. allies is likely to be extended, according to sources who have been in discussions with the Trump administration. The extensions may vary in length for each country, based on the progress made in talks on this and other trade issues. For instance, Canada and Mexico would be granted an extension because they have made progress on steel and aluminum issues in NAFTA talks,…

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EPA watchdog opens probe of Administrator Scott Pruitt’s controversial DC apartment rental

EPA watchdog opens probe of Administrator Scott Pruitt’s controversial DC apartment rental

The Environmental Protection Agency‘s internal watchdog has opened a probe of besieged Administrator Scott Pruitt‘s controversial Washington apartment rental. The investigation of that rental — from the wife of a lobbyist who had clients had business with the EPA — will be the fifth inquiry being conducted by the EPA’s Office of Inspector General into questions related to Pruitt’s tenure. The OIG already was eyeing Pruitt’s use of first-class flights for business travel, millions of…

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Microsoft narrows Amazon’s lead in cloud, but the gap remains large

Microsoft narrows Amazon’s lead in cloud, but the gap remains large

Microsoft continued to eat into Amazon’s lead in the cloud infrastructure market in the first quarter, though there remains a big gap between the two. Amazon Web Services held 33 percent of the cloud infrastructure market in the quarter, which is flat from a year earlier, according to data published Friday by Synergy Research Group. The market includes raw computing and storage, services for running applications and hosted private cloud. Microsoft’s share of the market…

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Sprint, T-Mobile set to announce a $26 billion merger

Sprint, T-Mobile set to announce a $26 billion merger

T-Mobile is closing in on a deal to merge with Sprint that will value Sprint near its current market price of $6.50 per share, according to people familiar with the matter. The $26 billion deal could be announced as soon as Sunday, said the people, who asked not to be named because the negotiations are private. No deal has been signed and talks could still fall apart, said the people. The sides have agreed on…

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Chinese telecom giants Huawei and ZTE face market pressures amid US scrutiny

Chinese telecom giants Huawei and ZTE face market pressures amid US scrutiny

U.S. pressure on Chinese telecom equipment giants Huawei and ZTE is causing immediate challenges for the companies in financial markets. This week, Huawei abruptly called off a planned sale of 500 million euros ($606 million) in five-year debt despite high demand, The Wall Street Journal reported Thursday, citing market participants. The news came a day after the Journal, citing sources, reported the U.S. Justice Department is investigating whether Huawei violated U.S. sanctions on Iran. The…

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US likely to back freezing fuel economy standards from 2020 through 2026

US likely to back freezing fuel economy standards from 2020 through 2026

The Trump administration is likely to propose freezing fuel economy standards from 2020 through 2026, according to three people briefed on the matter, a move likely to spark a fight with California and other states backing tougher vehicle emissions rules. The administration is circulating a draft proposal that would include freezing requirements after 2020 as the preferred alternative, but will include a series of other alternatives, the sources said. The formal proposal is expected to…

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KLX shares jump after report Boeing is near a deal to acquire the aerospace parts maker

KLX shares jump after report Boeing is near a deal to acquire the aerospace parts maker

Shares of the aerospace parts maker KLX rose more than 9 percent on Friday after The Wall Street Journal reported that Boeing is nearing a deal to buy it. The report said a deal could be announced Monday, though it could also fall through. A Boeing spokesman had no comment. A spokesman for KLX wasn’t immediately available. Boeing Chief Executive Officer Dennis Muilenburg said in an interview with Reuters on March 8 that the company…

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Why a middle-class lifestyle now costs over $300,000 a year

Why a middle-class lifestyle now costs over $300,000 a year

Let me tell you a sad story: In order to comfortably raise a family in an expensive coastal city like San Francisco or New York, you’ve got to make at least $300,000 a year. You can certainly raise a family earning less as many do, but it won’t be easy if your goal is to save for retirement, save for your child’s education, own your own home instead of rent and actually retire by a…

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ValueAct reveals bet on Strayer Education due to its A.I. investments

ValueAct reveals bet on Strayer Education due to its A.I. investments

ValueAct CEO Jeffrey Ubben expects Strayer Education to thrive because of its technology capabilities. Strayer “delivers good student outcomes … Strayer has been taking their tuition down to make it more affordable. That’s the big problem in education, affordability,” he said on CNBC’s “Closing Bell” Friday in an interview with Kelly Evans. “And they’ve been investing in artificial intelligence.” Ubben said students are having a “better experience” due to the education company’s technology improvements. He…

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