Bank executives were sent scrambling over the weekend after President Donald Trump declared late Friday that American credit card companies would be subject to a 10% cap on the interest rate they can charge customers. The move sent shares of large banks including Citigroup, JPMorgan Chase, Wells Fargo and Bank of America down between 1% … Read more
Banks and financial services stocks slid Monday after U.S. President Donald Trump called for a one-year cap on credit card interest rates at 10%. Citi Group lost almost 4% in premarket trading and JPMorgan Chase was last seen down 2.88%, paring some earlier losses. Bank of America fell 2.36%, Visa declined 1.94%, and Mastercard was 2.21% … Read more
A shopper pays with a credit card at the farmer’s market in San Francisco on March 27, 2025. Bloomberg | Bloomberg | Getty Images U.S. President Donald Trump said on Friday he was calling for a one-year cap on credit card interest rates at 10% starting on Jan. 20, but he did not provide details … Read more
CNBC’s Jim Cramer said Friday that investors shouldn’t read too much into uneventful unemployment data, arguing that a lack of surprises on the labor front is actually giving the market room to reveal the real story: a broad-based rally spreading well beyond last year’s winners. “When you get an employment report that’s basically uneventful, it … Read more
The earnings season that kicks off next week looms large for stock pickers, and could cement the recent broadening out of the bull market. Inflation data is also on the docket. The 2026 stock market that’s taking shape is looking different from what came before. While the S & P 500 is widely forecast on Wall … Read more
Although stocks closed lower on the last trading day of 2025, several names could gain ground in the new year, investors said Wednesday on CNBC’s “Halftime Report.” “I will admit it has a sour feeling to it … but whatever January may bring in the markets, we’re likely to have a good year,” Jim Lebenthal, … Read more
A trader works on the floor of the New York Stock Exchange. NYSE The S&P 500 rose to a new all-time high on Wednesday, coasting to another record close. The broad market index advanced 0.32%, ending the session at 6,932.05. The Dow Jones Industrial Average gained 288.75 points, or 0.60%, and also posted a closing … Read more
This sure has been one tough market these past few weeks. One day, stocks are rallying on renewed hopes of a December Fed rate cut. The very next day, they’re weighed down by worries of an impending AI bubble. It’s no surprise that the CBOE Volatility Index (VIX) — widely known as the “fear index” … Read more