A man passes by a GameStop location on 6th Avenue in New York, March 23, 2021. View Press | Corbis News | Getty Images GameStop shares rallied more than 80% on Monday after “Roaring Kitty,” the man who inspired the epic short squeeze of 2021, posted online for the first time in roughly three years. The post, … Read more
People wait at the train station of Wu Qing, Tianjin, on January 8, 2016. Fred Dufour | Afp | Getty Images BEIJING — A group of around 1,500 homebuyers in the Chinese city of Tianjin, near Beijing, have yet to see — let alone move into to — the apartments they said they paid for … Read more
It’s an exchange-traded fund designed to profit from higher rates. But even if the Federal Reserve starts to cut this year, Horizon Kinetics’ James Davolos thinks his firm’s Inflation Beneficiaries ETF (INFL) is in a sweet spot. “We’re actually going into the mature phase of inflation,” the firm’s portfolio manager Davolos told CNBC’s “ETF Edge” … Read more
At American Express, consumers are continuing to open high-fee credit cards and splurge on luxuries like travel. But for lending firm Upstart, there’s a strong interest in microloans as cash-strapped Americans try to scrape by. That juxtaposition underscores the growing picture of bifurcation among income brackets in America. And adds to an increasingly popular view … Read more
Artist Yu Shu creates sculptures of Charlie Munger. Courtesy: Yu Shu OMAHA, Neb. — A 24-inch tall, bronze bust sculpture of the late Charlie Munger became a conversation piece for guests who lodged at the Omaha Marriott last weekend for the Berkshire Hathaway annual meeting. The hotel, next to Berkshire-owned jewelry store Borsheims, was the … Read more
CNBC’s Jim Cramer on Friday guided investors through next week’s market action, telling them to pay attention to a number of earnings reports, including Home Depot, Alibaba and Walmart. He also suggested remarks from Federal Reserve officials will continue to shape the market, saying investors should tune in on Monday to commentary from Loretta Mester, … Read more
Jim Simons attends the IAS Einstein Gala at Pier 60 at Chelsea Piers in New York City. Sylvain Gaboury | Patrick Mcmullan | Getty Images Jim Simons, a mathematician who founded the most successful quantitative hedge fund of all time, passed away on Friday in New York City, his foundation announced on its website. Pioneering … Read more
CNBC’s Jim Cramer on Thursday said investors shouldn’t be treating their portfolios the same way that large hedge funds do. Instead of trading in and out of good companies, they should invest long term and be prepared for declines, he said. “You need to think about these kinds of challenges before you buy any stock, … Read more
A robot is producing auto parts on the production line of an auto parts company in Minhou County, Fuzhou, China, on May 7, 2024. Nurphoto | Nurphoto | Getty Images BEIJING — European companies in China are finding it harder to make money in the country as growth slows and overcapacity pressures increase, according to … Read more
Nio holds a product event in Shanghai on Sept. 21, 2023. Evelyn Cheng | CNBC BEIJING — Chinese electric car company Nio said Thursday it will launch its lower-priced brand called Onvo on May 15. The announcement comes amid a price war in China’s highly competitive electric car market that’s forced Tesla to cut prices. … Read more
