Commerce Secretary Gina Raimondo testifies before a Senate Appropriations Subcommittee on Commerce, Justice, Science, and Related Agencies hearing on Capitol Hill in Washington, D.C., U.S., February 1, 2022. Andrew Harnik | Reuters WASHINGTON — The U.S. will use funds from the $52 billion CHIPS and Science Act to create at […]
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Nvidia stock jumps on Wall Street praise, bolstering the Club case in the chipmaker
Wall Street analysts on Thursday widely cheered Club holding Nvidia ‘s (NVDA) fiscal year 2023 fourth-quarter results, prompting an avalanche of price-target increases and a new buy rating from once-skeptical Goldman Sachs. The overwhelmingly positive reaction underscores the quality of Nvidia’s business fundamentals, along with the opportunity we’ve been touting […]
Some Treasury bills are now paying 5%. Here’s what investors need to know
MStudioImages | E+ | Getty Images If you’re looking for a relatively safe place for cash, Treasury bills have recently become more attractive, experts say. Backed by the U.S. government, Treasury bills, or T-bills, have terms ranging from four weeks up to 52 weeks, and investors receive interest when the […]
Special counsel asks judge to compel Pence testimony in Trump criminal probe, report says
Former Vice President Mike Pence speaks during an event to promote his new book at the conservative Heritage Foundation think tank on October 19, 2022 in Washington, DC. Chip Somodevilla | Getty Images Federal prosecutors have asked a judge to compel Vice President Mike Pence to comply with a grand […]
Jamie Dimon says the Federal Reserve has ‘lost a little bit of control of inflation’
JPMorgan Chase CEO Jamie Dimon said Thursday that containing inflation remains a work in progress for the Federal Reserve, while noting the U.S. economy continues to show signs of strength. “I have all the respect for [Fed Chair Jerome] Powell, but the fact is we lost a little bit of […]
Black families’ net worth has grown more than other racial groups since Covid, but wealth gap remains wide
Getty Images Black families saw their wealth grow more than that of non-Black households during the pandemic, but the racial wealth gap is still vast, a new study showed. The average net worth among Black households rose to more than $340,000 through the third quarter of last year from the […]
Investing in Space: Texts from orbit
An animation shows a Lynk satellite conducting a test demonstration above the U.S. Lynk Global CNBC’s Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. CNBC’s Michael Sheetz reports and curates the latest news, investor updates and exclusive interviews on […]
Retirees lost 23% of their 401(k) savings in 2022, Fidelity says
Fluxfactory | E+ | Getty Images In a year marked by stiff economic headwinds, retirement savers paid the price. Although the average 401(k) balance rose in the fourth quarter of last year, balances ended 2022 down 23% from a year earlier to $103,900, according to a new report by Fidelity […]
Feds point to overheated wheel bearing in report on Ohio train derailment
Workers continue to clean up remaining tank cars, Tuesday, Feb. 21, 2023, in East Palestine, Ohio, following the Feb. 3 Norfolk Southern freight train derailment. Matt Freed | AP Federal authorities on Thursday pointed to an overheated wheel bearing on a Norfolk Southern train that derailed and released toxic chemicals […]
FTX founder Sam Bankman-Fried hit with four new criminal charges
FTX co-founder Sam Bankman-Fried was hit with four new criminal charges on Thursday in a superseding indictment filed in New York federal court. A source familar with the new counts said that SBF, as he is popularly known, could face an additional 40 years in prison if convicted in the […]