Author: News Room

The House approved a bill Wednesday that calls for China tech giant ByteDance to divest TikTok or the popular social video app will effectively be banned in the U.S.The measure passed with a resounding 352-65 vote and with one member voting present.The legislation, dubbed the Protecting Americans from Foreign Adversary Controlled Applications Act, was introduced March 5 by Reps. Mike Gallagher, R-Wis., and Raja Krishnamoorthi, D-Ill., of the House Select Committee on the Chinese Communist Party. Two days later, House members on the Energy and Commerce Committee voted unanimously to approve the bill, which refers to TikTok as a threat…

Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Wednesday’s key moments. U.S. stocks were mixed Wednesday following Tuesday’s record high close for the S & P 500 on a rebound in the artificial intelligence momentum trade. One day later, tech was the only sector in the red. While a rise in bond yields was not helping, the move was not surprising given the recent uptick in inflation data. On Tuesday, it was February’s consumer price index coming in warmer than expected. February’s producer price index is…

Vice President Kamala Harris said Friday that it is “absurd” and “patently unfair” that marijuana is treated the same as heroin and other Schedule I drugs – and more seriously than fentanyl – under federal law. “Marijuana is considered as dangerous as heroin and more dangerous than fentanyl, which is absurd, not to mention patently unfair,” Harris said during a roundtable on the administration’s plans for cannabis reform. “I’m sure DEA is working as quickly as possible and will continue to do so and we look forward to the product of their work.” The comments came at the roundtable at…

Blackpink is looking ahead to their next era as a band, while at the same time, the members are all busying themselves with solo careers that are very much on the rise. As the future looks bright for the quartet, fans haven’t stopped listening to some of their biggest hits, which is evident from the bit of history they just made. “How You Like That” by Blackpink has officially reached one billion plays on Spotify. It’s the first single from the four-member vocal group that hit that milestone, but this accomplishment is special for more than just the band. According…

“Daddy,” My nine-year-old started. I knew exactly what she was about to say. “They said a lot of bad words.” We were strolling out of Golden 1 Center. Our playoff-hopeful Sacramento Kings had just dropped another home game to a losing team. Our fellow fans were in foul moods. Their postgame language was, shall we say, colorful. I thanked my daughter for her observation, and we continued our stroll away from the salty crowd. Best to get some distance before calling an Uber UBER . (A reformed dad like me couldn’t lecture our neighboring group with any real credibility. I…

Small-cap stocks have seen a resurgence in the past several months, as the Russell 2000 topped the large-cap S&P 500 in the fourth quarter, returning 13.6%. Through the first three quarters of the year, the Russell 2000 had a negative return, so the fourth quarter rally was welcomed by investors – and long overdue. Some Wall Street strategists expect the small-cap rally to continue in 2024, as the market is attractively valued in an improving economic environment. “With a cheaper starting valuation and the expectation of rates coming down, we believe small caps will have their moment in the sun…

After Donald Trump’s presidency ended, his Treasury secretary, Steven Mnuchin, did what many former Cabinet members do after they stop serving: take a vacation from the public spotlight. Typically, when they get bored of that and worry they’re no longer relevant, they start doing TV interviews, fireside chats, joining company boards and becoming adjunct professors. What they don’t tend to do is throw a $1 billion Hail Mary to a bank that’s the Wall Street version of the dog in the comic-turned-iconic “this is fine” meme (see here if you have no clue what I am referencing). And what they…

In a compelling conversation with Bloomberg’s Francine Lacqua on March 14, Michael Hartnett, Chief Investment Strategist at Bank of America Corp., shared insights into the current state of the financial markets, directly from Rome at the Bank of America Global Investor Summit. His observations highlight a market infused with euphoria, potentially inflating a bubble, particularly noticeable in the realm of technology stocks and cryptocurrencies. Hartnett’s analysis centers around the significant price surges in the cryptocurrency sector, an elite group of technology corporations known as the “Magnificent Seven”, and companies linked to artificial intelligence. The “Magnificent Seven,” a term coined to…

Check out the companies making headlines in midday trading. Crypto stocks — Stocks whose performance is tied to the price of bitcoin rose as the cryptocurrency pushed to another record for the third day in a row. Crypto exchange Coinbase lost 1.7% and bitcoin proxy MicroStrategy surged nearly 10.9%. In the crypto mining sector, Marathon Digital lost 2.4%, while Riot Platforms added nearly 1%. CleanSpark gained about 3.8%. Texas Roadhouse — The restaurant chain added 2.6% on the back of an upgrade to outperform by Baird. The firm said the Kentucky-based chain should be able to keep climbing, even as…

Former CNN anchor Don Lemon announced Wednesday that Elon Musk has canceled a partnership in which Lemon would host a new show on X, the social media platform Musk owns.Lemon said he was informed of the decision to cancel the deal just hours after he taped an interview with Musk for the premiere of The Don Lemon Show on March 18.”We had a good conversation. Clearly he felt differently,” Lemon said of the interview in a statement Wednesday. “His commitment to a global town square where all questions can be asked and all ideas can be shared seems not to…