President Donald Trump says he’s inclined to support a bipartisan effort in Congress to ease the U.S. ban on marijuana. Asked Friday about a proposed bill that would reshape the nation’s approach to pot, Trump said he would “probably end up supporting that.” The federal ban has created a conflict with more than two dozen
On the final day in his insurance job last week after 14 years in the sector, Donnie wore a T-shirt emblazoned with a rocket logo, the symbol for bitcoin, and the slogan “to the moon”. The phrase, one that characterises the fervour espoused by bitcoin enthusiasts who say its price knows no bounds, was fitting.
Dialog Semiconductor, which supplies power management chips for Apple‘s iPhone, is in talks to acquire Synaptics, the maker of touch-screen and display technology used in mobile devices, according to a person familiar with the matter. Bloomberg previously reported the talks. Dialog, which has a market capitalization of about $1.1 billion, is smaller than Synaptics, whose
SpaceX is looking to build several new facilities at NASA’s historic Kennedy Space Center in Florida, including a state of the art launch control center and a massive processing facility for its rockets, according to environmental impact documents filed to NASA in April. Florida Today first reported the news Friday. The documents reveal Elon Musk’s
If you still haven’t filed your 2017 federal tax return after missing the April 18 deadline and you owe Uncle Sam, here’s another date you should be aware of: June 14. After that day, most taxpayers who are in that boat will face a minimum penalty of $210. “You can avoid some penalties by at
EU antitrust regulators are set to approve U.S. cable company Comcast’s bid for European pay-TV company Sky without demanding concessions, two people familiar with the matter said on Friday. Comcast is battling Rupert Murdoch’s Twenty-First Century Fox for Sky. The media mogul’s bid to buy all of Sky has been delayed by politicians and regulators
Warning signs in today’s tech sector are reminiscent of the dotcom boom of the late 1990s that eventually went bust, market veteran Jim Paulsen told CNBC on Friday. The current “character and attitude of the marketplace” are similar to the belief then that “tech can’t lose,” said the chief investment strategist at The Leuthold Group.
Bill Ackman’s hedge fund notched a double-digit gain in May, getting a boost from investments like Lowe’s, Chipotle Mexican Grill, and Automatic Data Processing. Pershing Square Holdings’ 10.3 percent net return last month was its second-best month since 2014, while its 7.5 percent gain through June 5 was notably higher than the broader market’s 3
General Electric’s board of directors issued a quarterly dividend of 12 cents per share to the company’s stockholders, GE announced Friday. Investors breathed a sigh of relief that the dividend is safe…at least for this current quarter. Fears of a second diviend cut for the widely owned blue chip company has weighed on the shares.
KFC is joining the healthier food trend by testing vegetarian fried chicken. Foodbeast reports that it would be the first vegetarian fried chicken offered by a big-name quick-service chain. Louisville-based KFC will test the product in the United Kingdom, and Foodbeast says smaller restaurants there, such as Temple Seitan, are famous for their versions of
The economic effect of President Donald Trump‘s $1.5 trillion tax cut and $300 billion bump in federal spending will wear off in two years and then “in 2020 Wile E. Coyote is going to go off the cliff,” former Federal Reserve Chairman Ben Bernanke said this week. The stimulus is coming at “the very wrong
Alibaba affiliate Ant Financial is now reportedly worth more than Goldman Sachs, thanks largely to dominance in two trends that have swept China: mobile payments and money market funds for consumers. Ant Financial announced Friday Beijing time that it raised about $14 billion. The funding values the company at around $150 billion, The Wall Street
With the summer travel season heating up, many vacation-home owners get to look forward to some extra income from renting out their slice of paradise. These part-time landlords need to remember that in many cases, the Internal Revenue Service expects to hear about that extra cash. Generally speaking, if you rent your vacation home for
A week away from the first games of the World Cup and geopolitical tensions are making their way into the event. American sportswear brand Nike said they would not provide cleats to the Iranian National team this year. The decision followed the Trump administration’s plan to reimpose sanctions on the Middle Eastern nation, the company
Do you use the same password for multiple accounts? Have you ever lost a phone or laptop? Do you skip installing malware or antivirus software? If you do, you have poor “cyber hygiene” — the steps you should take to maintain device health and improve online security. It also could make you a target for
A bullish call from a Wall Street analyst capped off a rough week for Tesla short sellers, with Nomura Instinet advising clients that the electric car maker’s shares could rally 42 percent over the next year. The stock rose 1.7 percent Friday and is now up 10 percent on the week. One of the most
Ant Financial, a subsidiary of Jack Ma’s e-commerce giant Alibaba, is using some of the $14 billion treasure chest it just raised to invest in blockchain. Ant Financial owns and operates China’s largest online and mobile payments network Alipay. The company, carved out from Alibaba Group seven years ago, is now worth a reported $150
The “Fast Money” traders shared their first moves for the market open. Pete Najarian was a buyer of Target. Tim Seymour was a buyer of Yandex. David Seaburg was a buyer of Advanced Micro Devices. Guy Adami was a buyer of Transocean. Trader disclosure: On June 7, 2018, the following stocks and commodities mentioned or
A surge this week has Tesla racing back to levels not seen in three months and reversing a sell-off that had wiped out a year’s worth of gains. The charts suggest its comeback is just getting started, one technical analyst says. “Tesla likes to consolidate and then thrust higher,” TradingAnalysis.com’s Todd Gordon told CNBC’s “Trading
Check out which companies are making headlines before the bell: Verizon – Verizon named chief technology officer Hans Vestberg as its new CEO effective August 1, replacing Lowell McAdam, who will remain as executive chairman through the end of the year. Vestberg is the former CEO of Sweden’s Ericsson. Facebook – Facebook said a software
Emerging market stocks are sinking, and one portfolio manager is urging more caution. Chad Morganlander, portfolio manager at Washington Crossing Advisors, told CNBC’s “Trading Nation” that emerging markets could fall further. Here’s why. • One large emerging markets-tracking ETF, the EEM, has fallen 1.5 percent this year amid a gradually strengthening U.S. dollar and concerns
Apple shares fell 2 percent in U.S. premarket trading on Friday, after a report said the firm told its supply chain to make 20 percent fewer parts for iPhones in the second half of 2018. The Nikkei newspaper, citing unnamed industry sources, reported that Apple was placing less orders as it is taking a “cautious”
Allianz Technology Trust (ATT) doesn’t hold heavy positions in many FAANG stocks, senior portfolio manager Walter Price told CNBC on Friday, partly because he prefers opportunities elsewhere, but also because he doesn’t see massive growth ahead. FAANG refers to a basket of high-technology growth stocks — Facebook, Amazon, Apple, Netflix and Google — that have
The euro is unlikely to see a massive upswing next week as central bankers meet to discuss the end of monetary stimulus in the region, analysts have told CNBC. The common currency has been recovering from political shocks over the last few days, hitting its highest level on Thursday since May 15, at $1.1838. This
Israeli investor Yossi Vardi has a knack for identifying top tech companies. Over his five-decade career, the 76-year-old has earned a multi-million-dollar fortune and the unofficial title of Israel’s hi-tech ‘godfather’ after investing in almost 90 IT companies, including the world’s first instant messaging platform, ICQ. So what is his winning formula? CNBC Make It
Lately, when an airline is in the news, it’s not all good. This month, Delta said it was investigating the death of a Pomeranian, which didn’t survive one of its flights. Last year, authorities were caught on video dragging a doctor off a United Airlines flight. If all of the drama has you wavering about
John Schneider III and David Auten’s relationship has had a couple of financial “aha” moments. The first came when they were 1½ years into their relationship and realized they had $51,000 in credit card debt. The process of paying off those balances led them to want to share the financial lessons they learned with others.
A federal program that offers a low-cost banking option to access federal payments such as Social Security is coming to an end this summer. Anyone who participates in the Treasury Department’s Electronic Transfer Account program should make sure they line up another way to receive their benefits. The program will shut down on Aug. 8.
Debbie Baker took out $35,000 in federal student loans while at the University of Tulsa in the 1990s, to become a music teacher in Oklahoma’s public schools. She didn’t know how she was going to make her monthly student loan payments on a new teacher’s salary, though. “I graduated and I got a bill for
Apple is considered the likely winner of the $1 trillion market-cap crown. One technician has a bullish call for an Amazon breakout that could push the e-commerce giant above that level, too. “Amazon, quite frankly, is in an outstanding technical and fundamental position. It is a two-way star. It is Shohei Ohtani. It pitches and