The investor who ran the world’s largest technology fund during the dot-com boom has a new warning. Paul Meeks predicts a near-term correction will hit tech stocks. “It’s inevitable,” he told CNBC’s “Trading Nation” on Friday. Meeks, who’s now a portfolio manager at Independent Solutions Wealth Management, cites two chief factors […]
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UAW calls strike against General Motors for first time since financial crisis
UAW members and supporters from General Motors’ Lordstown Assembly plant, which was idled in March, picket outside GM’s headquarters, as 2019 contract negotiations get underway. Michael Wayland | CNBC DETROIT – The United Auto Workers union plans to strike against General Motors following the two sides not reaching a tentative […]
Subscription porn gains popularity as new apps let models sell directly to their fans
LilPinkAlien, an online model, is charging customers subscriptions for content. LilPinkAlien Dolly, an 18-year-old aspiring online model, was sitting in her kitchen one day in June when an exciting email arrived. Someone had just paid $10 to view her posts for a month on a social network called OnlyFans. Just […]
Here’s how much you need to earn to afford to buy a home in 11 major US cities
Can you afford to buy a home? That probably depends on where you live and how much you earn. To see how housing costs vary by location across the U.S., CNBC Make It identified the qualifying income needed to purchase a home in 11 major cities with a 10% or […]
Keyllanne Conway says Trump administration ready to tap strategic petroleum reserve if necessary
White House counselor Kellyanne Conway speaks to the press at the White House in Washington, DC, on July 16, 2019. Nicholas Kamm | AFP | Getty Images Following a series of drone attacks in Saudi Arabia‘s oil-rich Eastern Province on Saturday, White House counselor Kellyanne Conway said the administration is […]
Apple is becoming a camera company
Tim Cook, chief executive officer of Apple Inc., speaks about the new iPhone Pro during an event at the Steve Jobs Theater in Cupertino, California, U.S., on Tuesday, Sept. 10, 2019. Apple unveiled the iPhone 11 that will replace the XR and start at $699. Photographer: David Paul Morris/Bloomberg via […]
BofA turns bullish on a troubled group, but there’s a catch
Bank of America Merrill Lynch is changing the way it looks at small caps. The firm’s senior U.S. equity strategist Jill Carey Hall is turning bullish on the troubled group. But her new call comes with a catch: Investors need a ten year time horizon to see solid profits. “If […]
Trump says Justice Kavanaugh should ‘start suing people’ after new report of sexual misconduct
Neil Gorsuch, associate justice of the U.S. Supreme Court, left, and Brett Kavanaugh, associate justice of the U.S. Supreme Court, attend the U.S. President Donald Trump’s State of the Union address to a joint session of Congress at the U.S. Capitol in Washington, D.C., U.S., on Tuesday, Feb. 5, 2019. […]
Saudi stock market dives, crude futures to jump after drone attack on oil plants
Smokes billows from the Abqaiq, Saudi Arabia crude processing facility after drone strikes Saturday, Sept. 14, 2019 Satellite imagery courtesy of Planet Labs DUBAI — Saudi Arabia’s stock market fell by 2.3% at Sunday’s open as the country grappled with weekend drone attacks on the heart of its oil production […]
Oil could rise $10 per barrel after drone attack forces Saudi to cut output in half
A trader wipes his eyes as he watches stock prices at the New York Stock Exchange in New York. Don Emmert | AFP | Getty Images Oil prices could jump as much as $10 per barrel after a number of drone strikes hit the center of Saudi Arabia’s oil industry, […]