5 things to know before the stock market opens Wednesday

14 days ago CNBC

The Goldman Sachs booth is seen at the New York Stock Exchange during morning trading on January 17, 2023 in New York City. United Airlines on Tuesday reported quarterly profit and revenue that easily beat Wall Street's expectations, while outperforming its fourth quarter in 2019, just before the pandemic walloped travel. Mortgage demand risesA 'For Sale' sign is posted in front of a single family home on October 27, 2022 in Hollywood, Florida. Joe Raedle | Getty ImagesWeekly mortgage demand shot up after rates came down a little bit, showing just how sensitive the market is to rate movement. New supply isn't moving onto the market, either, so affordability will likely remain an issue for homebuyers for the immediate future.
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With UK leader Liz Truss quitting, here are the top contenders to replace her

"Given the situation, I cannot deliver the mandate on which I was elected by the Conservative Party," she said in a brief speech Thursday afternoon. Here are the main contenders for the top job:Rishi SunakRishi Sunak, Britain's former finance minister and Truss' main opponent in this year's Conservative Party leadership race, is now seen as a favorite to replace her. Britain's former finance minister Rishi Sunak was Liz Truss's main opponent in this year's Conservative leadership race. Penny MordauntFormer Defense Secretary Penny Mordaunt surged to prominence during the summer's leadership race, before finishing in third place to Truss and Sunak. Leader of the House of Commons Penny Mordaunt is seen as a consensus candidate who could unite a splintered Conservative Party.

3 months ago CNBC

U.S. Defense secretary speaks with Russian counterpart as war in Ukraine enters ninth month

Secretary of Defense Lloyd Austin speaks at a news briefing at the Pentagon on July 20, 2022 in Arlington, Virginia. The call comes as the war enters its ninth month and as Ukraine continues a stunning counteroffensive to retake more of Russian-occupied territory in the east and south. "Secretary Austin emphasized the importance of maintaining lines of communication amid the ongoing war against Ukraine," according to the Pentagon. WASHINGTON – Secretary of Defense Lloyd Austin spoke with his Russian counterpart Friday morning, the second known call since the Kremlin's full-scale invasion of Ukraine in late February. Secretary of State Antony Blinken traded barbs last month with his Russian counterpart during a U.N. Security Council meeting.

3 months ago CNBC

White House hammers economic issues with attack on 'junk fees' two weeks out from Election Day

U.S. President Joe Biden delivers remarks on the U.S. economy from an auditorium on the White House campus in Washington, U.S. October 26, 2022. Junk fees are surprise costs added to consumer bills. "And we're just getting started," he said, adding that there are tens of billions of dollars in junk fees across industries that he's directed his administration to reduce or eliminate. Airlines have added myriad fees over the past decade, such as preferred seating fees that don't come with extra legroom. Biden said the move would "immediately start saving Americans collectively billions of dollars in unfair fees" and hold corporations accountable.

3 months ago CNBC

U.S. tech giants come under pressure from Europe's telcos to pay for building the internet

Michael Bocchieri | Getty ImagesIn Europe, the battle between U.S. Big Tech companies and telecommunications firms has reached fever pitch. In May 2022, EU competition chief Margrethe Vestager said she would look into requiring Big Tech firms to pay for network costs. In South Korea, companies have similarly lobbied politicians to force "over-the-top" players like YouTube and Netflix to pay for network access. Tech companies, naturally, don't think they should pay for the privilege of sending their traffic to consumers. There's also the matter of why internet users pay their providers in the first place.

3 months ago CNBC

How top-ranked financial advisors are responding to near-retiree concerns about inflation, longevity

We asked four of the financial advisors who made CNBC's FA 100 list in 2022 what they're hearing from their older clients, and how they're responding. 1 on CNBC's FA 100 list. A new concern, Harlemert said, is the impact rising interest rates are having on people's pensions. The value of a pension is based, in part, on current interest rates, he explained. For the last 10 years, he said, they've seen their pensions mostly rise in value as interest rates have remained at historic lows.

3 months ago CNBC

The Investing Club's top 5 things to watch in the market Tuesday: Stocks edge up, China, Tesla

As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

1 month ago CNBC

Top U.S., Chinese and Russian officials tour Africa as global charm offensive gathers pace

Janet Yellen, US Treasury secretary, during a news conference with Enoch Godongwana, South Africa's finance minister, at the National Treasury in Pretoria, South Africa, on Thursday, Jan. 26, 2023. Yellen met with South African officials including President Cyril Ramaphosa last week, just days after the country's Foreign Minister Naledi Pandor stood alongside Lavrov and vowed to strengthen bilateral relations between Pretoria and Moscow. South Africa was one of 17 African nations to abstain from the U.N. vote in March to condemn Russia's war of aggression. As such, many African nations desire a strong relationship with both the U.S. and China, and U.S. diplomacy will be more effective when not framed as an "us-or-them" proposition. What's more, the BRI projects were "largely uncoordinated and unplanned," he said, with competing Chinese lenders offering credit to African nations, challenging the notion of a coherent centralized "debt trap" policy from Beijing.

1 day ago CNBC

Ivermectin — a drug once touted as a Covid treatment by conservatives — doesn't improve recovery much, clinical trial finds

Ivermectin, a drug once touted by conservatives as a treatment for Covid, does not meaningfully improve the recovery time for people with mild to moderate Covid-19, according a large clinical trial published in a peer-reviewed journal. Ivermectin has been approved to treat parasitic worms in humans, but it's primarily used as a dewormer for horses. "Among outpatients with mild to moderate COVID-19, treatment with ivermectin, compared with placebo, did not significantly improve time to recovery," the team of scientists led by Duke University School of Medicine wrote. The latest trial looked at 817 people who took ivermectin tablets for three days and compared them to 774 who received a placebo. The participants who took ivermectin received a daily dose based on their weight.

3 months ago CNBC

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