The headquarters of the US Securities and Exchange Commission (SEC). SAUL LOEB | AFP | Getty Images The Securities and Exchange Commission will probe conflicts of interest in financial advice this year with more vigor, at a time when market conditions may lead brokers to take advantage of clients with greater frequency, the federal agency
CNBC’s Jim Cramer said Wednesday he anticipates a ferocious travel recovery from the Covid pandemic, a development that would have significant implications for companies with exposure to the industry and for the U.S. economy overall. “It’s going to be a boom here in this country, and I don’t think people are ready for it,” Cramer
Dan Gilbert, chairman, Quicken Loans Anjali Sundaram | CNBC Tuesday’s dramatic and abnormal spike in the stock of Rocket Companies created a major windfall for founder Dan Gilbert, at least on paper. Shares of Rocket, where Gilbert is the majority shareholder, jumped more than 70% on Tuesday, adding $17.30 per share. According to InsiderScore.com and
Shoppers enter a Michaels store in Miami, Florida. Scott McIntyre | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Rocket Companies – The online mortgage provider’s stock dropped close to 20% after a surprise rally in the previous session as analysts urged caution in the heightened speculative trading in the
Eric Yuan, founder and chief executive officer of Zoom Video Communications Inc., center, reacts while ringing the opening bell during the company’s initial public offering (IPO) at the Nasdaq MarketSite in New York, U.S., on Thursday, April 18, 2019. Zoom reported net income of $7.6 million on revenue of $331 million for the year ended
LONDON — British luxury carmaker Aston Martin on Wednesday launched a new Formula One car ahead of its return to the most famous motor racing event in the world. The Aston Martin Cognizant F1 team revealed the “AMR21” car at a virtual event that was broadcast from London. The AMR21 will compete in the 2021
romrodinka | iStock | Getty Images You may already have noticed that you’re spending more to fill your car’s gas tank. Don’t be surprised if the price keeps ticking higher. The national average cost for a gallon of gas has increased by about 18 cents over the last two weeks, on the heels of reduced
Japanese billionaire entrepreneur Yusaku Maezawa speaks at SpaceX’s headquarters in Hawthorne, California. Michael Sheetz | CNBC Japanese billionaire Yusaku Maezawa announced on Tuesday that he will choose eight members of the public to join him on his trip around the moon, scheduled to fly on SpaceX’s Starship rocket in 2023. “I’m inviting you to join
Customs and manners are so important to Japanese culture that many travel websites have sections dedicated to the topic. Japan is currently closed to international travelers, but the country is exploring ways to safely reopen before the start of the Tokyo Summer Olympics, which is scheduled for late July. Tourists aren’t expected to understand all
A virtual art piece titled “Everydays: The First 5000 Days.” Created by digital artist Beeple, it’s the first NFT-based work of art to go on auction at Christie’s. Christie’s From art to sports trading cards, people are spending millions of dollars on digital collector’s items. These crypto collectibles, known as NFTs, have exploded in popularity
Customers leave a Kohl’s store on November 12, 2015 in San Rafael, California. Justin Sullivan | Getty Images News | Getty Images Kohl’s on Tuesday reported fourth-quarter earnings and sales that topped analysts’ estimates, and pointed to stronger growth in 2021. Facing pressure from activist investors, the company said it will reinstate its dividend and
Greg Abbott, governor of Texas, speaks during an Operation Warp Speed vaccine summit at the White House in Washington, D.C., on Tuesday, Dec. 8, 2020. Al Drago | Bloomberg | Getty Images The governors of Texas and Mississippi both announced Tuesday that they are lifting statewide mask mandates and allowing businesses to reopen at full
Luis Alvarez | DigitalVision | Getty Images The House of Representatives’ $1.9 trillion coronavirus relief bill includes a proposal that could help keep some seniors out of nursing homes. The bill calls for a 7.5% increase — or about $10 billion — in additional federal Medicaid matching funds for home- and community-based services. The extra
The WallStreetBets forum on the Reddit Inc. website on a laptop computer and the logo on a smartphone arranged in Hastings-On-Hudson, New York, U.S., on Friday, Jan. 29, 2021. Tiffany Hagler-Geard | Bloomberg | Getty Images Shares of Rocket Companies rallied more than 20% Tuesday in a surprising move on no apparent new news. The
Jeff Bezos, founder and CEO of Amazon, speaks to a group of Amazon employees that are veterans during an Amazon Veterans Day celebration on Monday, November 12, 2018. Leonard Ortiz | Digital First Media | Getty Images Jeff Bezos would owe $5.7 billion in taxes for 2020 under the Ultra-Millionaire Tax Act proposed by a
Gary Gensler, President Joe Biden’s pick to lead the Securities and Exchange Commission, said he would hope to oversee cryptocurrency regulation, the “gamification” of equity trading and board diversity if confirmed to lead Wall Street’s chief regulator. Gensler, who testified before the Senate Banking Committee on Tuesday, was grilled on whether he would scrutinize payment
People exit Target store in Midtown Manhattan on August 19, 2020 in New York. Eduardo Munoz Alvarez | Corbis News | Getty Images Target will report its fourth-quarter earnings before the bell on Tuesday, as it tries to sustain gains while pandemic-related tailwinds ease. The retailer will host a virtual investor day on Tuesday to
Disney has done it again. On Monday, reviews for the studio’s latest animated feature “Raya and the Last Dragon” began to trickle in, signaling that the House of Mouse has yet another hit on its hands. So far, the film, which is due to hit theaters and Disney+ premiere access on Friday, holds a 96%
Sen. Elizabeth Warren, D-Mass., holds a news conference to announce legislation that would tax the net worth of America’s wealthiest individuals at the U.S. Capitol on Mar. 1, 2021 in Washington. Chip Somodevilla | Getty Images News | Getty Images A slew of Democrats on Capitol Hill — including progressives Sen. Elizabeth Warren, D-Mass., and
A visual representation of digital currencies. Yuriko Nakao | Getty Images New York attorney general Letitia James sent a blistering warning to investors and industry members about the dangers of cryptocurrencies on Monday. “We’re sending a clear message to the entire industry that you either play by the rules or we will shut you down,”
Growing up in Birmingham, Alabama, all his life Josh Tetrick was certain he was going to be a linebacker in the National Football League. So when he fell short of a career as a professional football player, he needed a new place to channel his energy. As Tetrick saw it, he had two choices: Follow
A Nio Inc. ES6 electric SUV at a battery swap station inside a parking lot in Shanghai on March 1, 2021. Qilai Shen | Bloomberg | Getty Images BEIJING — Chinese electric car start-up Nio said Tuesday a global chip shortage will force it to manufacture fewer cars in the second quarter. High demand for
A Moderna (COVID-19) vaccine is seen at the LA Mission homeless shelter on Skid Row, in Los Angeles, California, U.S., February 10, 2021. Lucy Nicholson | Reuters Moderna said Thursday it expects to make $18.4 billion in sales from its Covid-19 vaccine this year. In releasing its fourth-quarter earnings, Moderna also said its chief medical
Gary Collis of Bunker Hill, West Virginia, receives his boost dose at a coronavirus disease (COVID-19) community vaccination event, as the vaccination rate in West Virginia ranks among highest in world, in Martinsburg, February 25, 2021. Kevin Lamarque | Reuters Johnson & Johnson‘s Covid-19 vaccine can be used as a substitute for a second jab
Virojt Changyencham | Moment | Getty Images The self-employed and gig workers are anxiously waiting for the Small Business Association to update guidelines to its Paycheck Protection Program, which could mean bigger loans for the group. The Biden administration announced last week changes to how the SBA will calculate forgivable loans for sole proprietors and
Yellow Dog Prod. | Image Bank | Getty Images After a wild final week of a volatile month, it’s becoming increasingly clear that something is spooking investors. That something is the potential for a surge in inflation later this year. Investors are justifiably concerned that the combination of sustained Fed interest-rate suppression and trillions in
On Friday, Samantha John pitched Hopscotch, an app that teaches kids how to code by building games, to the Sharks on ABC’s “Shark Tank.” Over the last nine years, John turned her passion for programming into a profitable business. But “when I was a kid, I never thought that coding was for me. I was
Joggers pass the Marriner S. Eccles Federal Reserve building in Washington, D.C., on Tuesday, Aug. 18, 2020. Erin Scott | Bloomberg | Getty Images While the Federal Reserve may not raise its benchmark interest rate for years, there are growing expectations it may tweak policy soon to address some of the recent tumult in the
Enrique Lores, CEO, HP Scott Mlyn | CNBC HP shares closed up less than 1% on Thursday after the PC maker reported fiscal first-quarter earnings that topped analysts’ estimates. HP stock was halted during the afternoon as shares suddenly rose. The company released its earnings report shortly after, though it had planned to announce the
Tina Fey and Amy Poehler speak via livestream during the 78th Annual Golden Globe® Awards at The Rainbow Room on February 28, 2021 in New York City. Kevin Mazur | Getty Images Entertainment | Getty Images “Could this whole night have been an email?” co-host Tina Fey asked a small, socially distanced audience of first
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