Tech stocks have soared this year, with chip designer Broadcom nearly doubling year to date, and iPhone maker Apple and software and cloud giant Microsoft soaring more than 50% each. New developments supported all three Club names Wednesday. Here are the headlines and how we feel about each stock. Analysts […]
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FCC votes to ban termination fees for cable and satellite services
Signage is seen at the headquarters of the Federal Communications Commission in Washington, D.C. Andrew Kelly | Reuters WASHINGTON — The Federal Communications Commission on Wednesday voted to pass a measure banning cable and satellite companies from charging early termination fees. “Consumers are tired of these junk fees,” FCC Chairwoman […]
Here’s why bringing down inflation has been different this time, according to Jerome Powell
Federal Reserve Board Chairman Jerome Powell speaks during a press conference following a closed two-day meeting of the Federal Open Market Committee on interest rate policy at the Federal Reserve in Washington, U.S., December 13, 2023. Kevin Lamarque | Reuters Fed Chair Jerome Powell said Wednesday that the unique economic […]
10-year Treasury yield drops to lowest level since August as Fed forecasts easing rates 3 times next year
Treasury yields dropped on Wednesday, with the yield on the 10-year hitting its lowest level since August after the Federal Reserve held rates steady for a third consecutive meeting and set the stage for three cuts in 2024. The yield on the 10-year Treasury was last down 16 basis points […]
Renowned investor Ken Langone sees Eli Lilly going to $1 trillion for the same reason we took a stake
Every weekday the CNBC Investing Club with Jim Cramer releases the Homestretch audio feature in time for the last hour of trading on Wall Street. Here’s today’s edition. The major U.S. stock benchmarks rallied Wednesday after the Federal Reserve indicated three interest rate cuts could be coming in 2024 — […]
The Federal Reserve’s period of rate hikes may be over. Here’s why consumers are still reeling
The Federal Reserve announced it will leave interest rates unchanged Wednesday, in a move that many believe will conclude the central bank’s rate hike cycle and set the stage for rate cuts in the year ahead. The Fed has raised interest rates 11 times since March 2022 — the fastest pace of tightening […]
Fed holds rates steady, indicates three cuts coming in 2024
The Federal Reserve on Wednesday held its key interest rate steady for the third straight time and set the table for multiple cuts to come in 2024 and beyond. With the inflation rate easing and the economy holding in, policymakers on the Federal Open Market Committee voted unanimously to keep […]
SpaceX valuation climbs to $180 billion
SpaceX’s next-generation Starship spacecraft atop its powerful Super Heavy rocket is launched from the company’s Boca Chica launchpad on an uncrewed test flight, near Brownsville, Texas, on Nov. 18, 2023. Joe Skipper | Reuters The valuation of Elon Musk’s SpaceX hit $180 billion based on an ongoing secondary share sale, CNBC confirmed […]
Hunter Biden defies subpoena, defends business record
Hunter Biden, son of President Joe Biden, makes a statement to the press outside the U.S. Capitol about testifying publicly to the House Oversight and Accountability Committee on Wednesday, December 13, 2023. Bill Clark | Cq-roll Call, Inc. | Getty Images Hunter Biden on Wednesday defended his business record and […]
Treasury yields dip as investors look to Fed rate decision, policy guidance
Treasury yields fell slightly on Wednesday as investors awaited the Federal Reserve’s latest interest rate decision and guidance on the outlook for monetary policy and the U.S. economy. The yield on the 10-year Treasury dipped 6 basis points to 4.14%. The 2-year Treasury yield was last down by 6.1 basis […]