Crypto investors are having a mild existential crisis as demand for the young asset class dries up in the midst of a bull market. In the past month, search interest in crypto has been muted, network activity has been subdued and futures funding rates briefly went negative. Ether ETFs, which began trading a little over a month ago, have…
A sign hangs above a Dollar General store in Chicago on Aug. 31, 2023. Scott Olson | Getty Images Dollar General shares tumbled Thursday after the discount retailer slashed its sales and profit guidance for the full year, suggesting its lower-income customers are struggling in this economy. Shares of the retailer, which caters to more rural areas, tumbled 25%…
Warren Buffett tours the grounds at the Berkshire Hathaway Annual Shareholders Meeting in Omaha Nebraska. David A. Grogan | CNBC Warren Buffett’s Berkshire Hathaway reached a $1 trillion market capitalization on Wednesday, the first nontechnology company in the U.S. to score the coveted milestone. Shares of the Omaha, Nebraska-based conglomerate have rallied more than 28% in 2024, far above…
Warren Buffett speaks during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 4, 2024. CNBC A coincidence or master plan? Warren Buffett now owns the exact same number of shares of Apple as he does Coca-Cola after slashing the tech holding by half. Many Buffett followers made the curious observation after a regulatory “13-F” filing Wednesday…
Stock market information displayed at the Nasdaq MarketSite in New York, US, on Monday, Aug. 5, 2024. Michael Nagle | Bloomberg | Getty Images A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. Wealthy investors and…
JPMorgan Chase has rolled out a generative artificial intelligence assistant to tens of thousands of its employees in recent weeks, the initial phase of a broader plan to inject the technology throughout the sprawling financial giant. The program, called LLM Suite, is already available to more than 60,000 employees, helping them with tasks like writing emails and reports. The…
JPMorgan Chase CEO Jamie Dimon said Wednesday he still believes that the odds of a “soft landing” for the U.S. economy are around 35% to 40%, making recession the most likely scenario in his mind. When CNBC’s Leslie Picker asked Dimon if he had changed his view from February that markets were too optimistic on recession risks, he said…
A view of storage tanks and pipelines at the Shell Carson Distribution Complex, a distribution hub for petroleum products, in Carson, California, on March 11, 2022. Bing Guan | Reuters U.S. crude oil futures fell to a six-month low on Monday as equity markets sold off on fears the economy might be teetering on the brink of a recession….
(This is CNBC Pro’s live coverage of Monday’s Wall Street chatter as global markets sell off.) Stock markets around the world are selling off to start the week, as investors fear the U.S. could be headed into a recession amid a spate of softening economic data. Japan’s Nikkei 225 had its biggest one-day drop since 1987 overnight, losing 12.4%…
Warren Buffett walks the floor and meets with Berkshire Hathaway shareholders ahead of their annual meeting in Omaha, Nebraska on May 3rd, 2024. David A. Grogan Berkshire Hathaway‘s cash pile swelled to a record $276.9 billion last quarter as Warren Buffett sold big chunks in stock holdings including Apple. The Omaha-based conglomerate’s cash hoard jumped significantly higher from the previous…
