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Riding the subway is a rite of passage for those living in and visiting New York City. Surely, if you spent 16 seasons playing football in the Big Apple, you would have hopped on the train at least a handful of times. Not Eli Manning. The former Giants quarterback shared a photo of himself on X at an underground station this week with the caption, “First time riding the subway!” Fans and New Yorkers alike were, understandably, blown away. “Dude has lived in NYC area for 20 years and it’s the first time ever riding on the subway? Thats absurd,” Jake Asman wrote on the platform. “Best evidence the Giants are a New Jersey team,” Politico’s Jeff Coltin joked. “Congestion pricing is working. This middle aged man from New Jersey is riding public transit,” an X user named Matt Janiga wrote. “I forgot how rich people have it sometimes,” @JetsMuse wrote . The social media version of Manning can be a bit of a troll, as he proved this week with a back-and-forth with Tom Brady , so it’s unclear if it was truly the two-time Super Bowl champion’s first time on the subway. On Monday, Brady shared a photo holding a fish while basking in the sunlight — Manning seized on the opportunity, sharing a side-by-side shot of his much larger catch in comparison on Instagram with the caption, “Cute Minnow, Tom!” “You use a helmet to catch that one too?” Brady quipped, in a callback to the Patriots-Giants Super Bowl clash at the end of the 2007 season.
The Australian sharemarket is tipped to open weaker despite a rally from some of the world’s largest technology companies that spurred a rebound on Wall Street. ASX 200 futures were down 15 points or 0.2 per cent at 8.183 at 7.15 AEDT, after the S&P/ASX 200 Index gained 1.7 per cent on Monday to post its best session in six months. Overnight, US stocks recovered from a wobble that was fuelled by weaker-than-expected data on US consumer confidence. While most companies in the S&P 500 retreated, Tesla and Nvidia drove a gauge of the “Magnificent Seven” megacaps up over 1 per cent. However, it was a thin trading session at the start of a holiday-shortened week, with volume roughly 20 per cent below the average of the past month. Wall Street recovered from an early wobble as the heavyweight technology stocks spurred a rebound. Credit: Bloomberg “Primary uptrends remain intact for equities despite the recent profit-taking,” Craig Johnson at Piper Sandler said. “Given the short-term oversold conditions, we expect a ‘Santa Claus Rally’ to be a strong possibility this year.” To Morgan Stanley’s Michael Wilson, negative breadth — when falling shares outnumber those that are rising — may not matter as much for high-quality stock indexes with robust price momentum. Earlier, stocks lost steam momentarily after data showed consumer confidence unexpectedly sank for the first time in three months on concerns about the outlook for the US economy. “The economic outlook is deteriorating,” said Neil Dutta at Renaissance Macro Research. “This was true before the Fed’s December confab and remains true. The risk of the Fed flip-flopping is quite high.” The S&P 500 added 0.4 per cent. The Nasdaq 100 climbed 0.7 per cent. The Dow Jones Industrial Average wavered. Qualcomm climbed after prevailing at trial against Arm Holdings’ claim that it breached a license for chip technology. Rumble soared on news that crypto stablecoin firm Tether will buy a stake in the video-sharing platform. Meanwhile, US retail giant Nordstrom is going private after the founding Nordstrom family, which owns a 33 per cent stake in the company, teamed up with Mexican retail investor El Puerto de Liverpool on the deal. Treasury 10-year yields advanced seven basis points to 4.59 per cent. The Bloomberg Dollar Spot Index rose 0.3 per cent. The S&P 500 is on its way to record a stellar annual return and back-to-back years of more than 20 per cent gains. The index has risen about 25 per cent since the end of 2023, with the top seven biggest technology stocks accounting for more than half of the advance. “Last week’s action should mark the end of the recent pullback and allow a ‘Santa Claus Rally’,” said Jonathan Krinsky at BTIG. “We do think a deeper correction early in ’25 is likely, albeit from a new all-time high.” The prospect or not of a “Santa Claus Rally” during a seven-day period, which includes the last five trading days of the old year and the first two of the new one, continues to be a barometer of investors’ optimism into the new year. Bloomberg L.P.S&P/TSX composite up almost 150 at closing, U.S. markets also higher
Columnist David Frum slammed the co-hosts of MSNBC’s “Morning Joe” after they clarified a comment he made on the show about Fox News. On Wednesday’s episode of “Morning Joe,” Frum weighed in as a contributor about recent reports about President-elect Donald Trump’s pick for Secretary of Defense, Pete Hegseth. Multiple outlets reported this week that Hegseth’s former colleagues at Fox News raised concerns about his drinking while he was at the network. “If you’re too drunk for Fox News, you’re very, very drunk indeed,” Frum quipped at one point. Later in the program and after Frum had left, co-host Mika Brzezinski issued a statement to clarify the remarks. “A little bit earlier in this block there was a comment made about Fox News, in our coverage about Pete Hegseth and the growing number of allegations about his behavior over the years and possible addiction to alcohol or issues with alcohol. The comment was a little too flippant for this moment that we’re in. We just want to make that comment as well. We want to make that clear,” she said. Frum then responded to the statement in a piece for “The Atlantic” later on Wednesday, where he described his appearance on “Morning Joe” as an “unsettling experience.” He said after he made the comment about Fox News, a producer told him during an ad break that he opposed that comment. He said that viewers could decide whether he “overstepped the proper limits of television discussion,” before suggesting that the “Morning Joe” co-hosts could use some courage to stand up to Trump. “It is a very ominous thing if our leading forums for discussion of public affairs are already feeling the chill of intimidation and responding with efforts to appease,” he wrote in the piece titled, “The Sound of Fear on Air.” “I write these words very aware that I’m probably saying goodbye forever to a television platform that I enjoy and from which I have benefited as both viewer and guest. I have been the recipient of personal kindnesses from the hosts that I have not forgotten,” he continued. “I do not write to scold anyone; I write because fear is infectious. Let it spread, and it will paralyze us all,” he concluded. “The only antidote is courage. And that’s infectious, too.” Brzezinski and co-host Joe Scarborough were criticized for the on-air statement at the time, with some suggesting the pair feared retribution from President-elect Donald Trump. The co-hosts addressed Frum’s piece and the backlash they received on Thursday’s show. “That wasn’t the sound of fear. That was the sound of civility,” Scarborough said. “In saying that Mika had apologized, she didn’t apologize. She simply said it was too flippant.” "That wasn't the sound of fear. That was the sound of civility" -- Joe Scarborough makes an impassioned defense of the decision he and Mika made to defend Fox News from David Frum as well as their meeting with Trump at Mar-a-Lago pic.twitter.com/Cz0h0kfAvn He went on to reiterate that he is not “fearful.” “You can’t be fearful. Just because some people have said that we are fearful. Let me tell you something, you can talk to anybody that has worked in the front office of NBC and MSNBC over the past 22 years. I tell you, I’m not fearful. If you talk to anybody served with me in congress, they will tell you, not fearful of leadership. Now? Not fearful,” Scarborough said. He also said that they did not issue an apology and that they invited Frum again to the show to discuss the comments. A vice president of communications for NBC News also issued a statement about the situation on Wednesday. “Joe and Mika have consistently expressed their strong reservations and perspectives regarding Pete Hegseth’s nomination from the very beginning, and that stance remains unchanged. We would have responded in the same manner regardless of when these comments were made or what news organization was referenced. We have great respect for @davidfrum and his contributions; he is a valued member of the @Morning_Joe family,” Richard Hudock said in a statement posted to X. “We invite him to join us tomorrow to discuss this topic and other pressing news stories of the day,” he added. Stories by Lauren Sforza GOP senator on vetting Trump nominees: ‘Not our job!’ Trump assassination hearing explodes in chaos: ‘You are way out of line!’ Eliminating the penny? Democrat governor proposes new idea for Trump’s DOGE Our journalism needs your support. Please subscribe today to NJ.com .
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here . > 24/7 San Diego news stream: Watch NBC 7 free wherever you are Mega automobile merger Nissan and Honda have begun official merger discussions , the two companies announced on Monday. Negotiations will end June 2025. Japan-listed Honda shares were last up 13.4% on Tuesday and on track for their best day since October 2008 , after the company announced plans to buy back 24% of its issued shares by Dec. 23 next year. Taiwan tops Asian markets As of Dec. 23, Taiwan's Taiex had gained 28.85%, making it the best-performing stock market in Asia-Pacific in 2024. The Taiex's focus on tech and tech-related stocks helped supercharge its performance. Taiwan Semiconductor Manufacturing Company soared 82.12% in 2024, and Foxconn — which trades as Hon Hai Precision Industry — advanced 77.51%. Positive start to holidays U.S. markets rose on Monday on the back of a strong showing by large tech stocks. The New York Stock Exchange closes early Tuesday for Christmas Eve. Asia-Pacific stocks traded mixed on Tuesday . Japan's Nikkei 225 slipped roughly 0.4% even as Honda shares popped. Meanwhile, Hong Kong's Hang Seng index climbed more than 1%. UK GDP not OK The U.K. economy failed to expand in the three months ending September, according to revised figure from the Office for National Statistics, published Monday. Previous estimates had pegged third-quarter gross domestic product at 0.1%. Earlier this month, data from the ONS showed the U.K. economy had unexpectedly contracted by 0.1% in October. [PRO] Buffett's biggest war chest Warren Buffett's Berkshire Hathaway is currently holding $325 billion in cash — the largest amount it's hoarded in absolute terms. Cash now comprises around 30% of Berkshire's total assets, the highest proportion in 34 years, according to data from Oppenheimer. Buffett sold large quantities of Apple and Bank of America shares this year. Why is the 94-year-old legendary investor holding on to so much cash? Analysts weigh in. Money Report How F1 teams are turning to AI to improve performance on the track Honda shares set for best day in more than 16 years on share buyback plan, Nissan deal U.S. markets began the trading week in holiday cheer. The S&P 500 gained 0.73% and the Dow Jones Industrial Average , recovering from earlier losses, ticked up 0.16%. The Nasdaq Composite added 0.98% on the back of strong performances from large tech firms such as Nvidia , Tesla and Meta Platforms . However, shares of bitcoin proxy MicroStrategy slumped 8.8% on its first day in the Nasdaq-100 index, following the cryptocurrency's price falling to below $93,000 on Monday. That said, MicroStrategy is still among the best-performing U.S. tech companies valued at $5 billion or more, according to FactSet data. Its shares have rocketed 426% so far this year, mostly thanks to the company's stockpile of bitcoins , which it started to amass in 2020. With the rally in bitcoin following Donald Trump's election victory, MicroStrategy's bitcoin holding is now worth around $42 billion. It's the basis for the company's market capitalization ballooning to $82 billion from roughly $1.1 billion from the time it began buying bitcoin in bulk. Investors looking to ride on MicroStrategy's explosive rise should remember that the company's share price is currently trading on the back of bitcoin prices. The flipside of it is that if bitcoin prices crater for any reason — volatile as cryptocurrency can be — MicroStrategy shares may stumble too. Trading is likely to be thin this week. Markets in the U.S. will close early on Tuesday and take a break on Wednesday for Christmas Day. But light trading doesn't mean small moves in markets. "With the market's primary uptrends still intact, we are not giving up on the potential for a Santa Claus to come to Broad & Wall this year," Craig Johnson, chief market technician at Piper Sandler, said in a note. As investors celebrate the festivities — and the S&P's 25.25% year-to-date pop — they might find an extra present underneath the tree. — CNBC's Yun Li, MacKenzie Sigalos and Ari Levy contributed to this report. CNBC Daily Open will be on hiatus and return next year. Happy holidays! Also on CNBC Markets begin week with holiday cheer Inflation and dot plots With cooler-than-expected PCE, would the Fed’s dot plot have looked different?West Ham produced a clinical away performance to beat resurgent Newcastle 2-0 on Monday, easing the pressure on beleaguered manager Julen Lopetegui. Tomas Soucek headed the visitors in front against the run of play at St James' Park and Aaron Wan-Bissaka grabbed a rare goal in the second half to double the Hammers' lead. Newcastle were unable to capitalise on the chances they created, failing to build on the momentum created by recent wins against Arsenal and Nottingham Forest. The result, only West Ham's second win on the road this season, lifts them to 15 points, just three behind 10th-placed Newcastle, who missed out on the chance to move into the top six. The home side made the early running and in-form forward Alexander Isak had the ball in the net in the fifth minute after a delicate dink over Lukasz Fabianski, only for it to be ruled out for offside. West Ham, expected to face a tough test on Newcastle's home turf, showed little adventure in the opening stages. But their first real foray up the pitch resulted in a corner and the unmarked Soucek powered home a header from close range in the 10th minute. Newcastle enjoyed the bulk of the possession as a lively first half unfolded but West Ham were robust in defence and threatened when they went forward. Anthony Gordon had a glorious chance to level after a poor clearance from Jean-Clair Todibo but fired straight at Fabianski. Minutes later Isak chested down a superb cross from Bruno Guimaraes but steered narrowly wide on the stretch. Eddie Howe's Newcastle were again on the front foot at the start of the second half but it was West Ham who doubled their lead through Wan-Bissaka. The former Manchester United man scored his first goal for West Ham and just his third career goal after picking up Jarrod Bowen's pass and firing home. Howe brought on Jacob Murphy and Callum Wilson in a bid to turn the tide but Newcastle failed to build up a head of steam against their determined opponents, who saw out the game with relative ease. (AFP)Investors looking to invest $1,000 in a financial services stock with solid growth potential and reliable returns could consider ( ). It’s one of the top alternative asset managers globally, handling an impressive $1 trillion in assets across industries like renewable energy, infrastructure, private equity, real estate, and credit. Brookfield’s early investments into booming sectors such as renewable energy, nuclear power, and artificial intelligence (AI) infrastructure are starting to pay off. These industries are set for long-term growth, giving Brookfield plenty of room for growth. Let’s delve deeper to understand why Brookfield Asset Management is a solid stock to buy right now. Brookfield employs an asset-light model, focusing on high-quality investments and distributing a significant portion of its earnings to shareholders. Its distributable earnings are primarily derived from fee-related income, which is stable and predictable, ensuring regular payouts and long-term shareholder value. In its third quarter, Brookfield delivered record results. Fee-bearing capital surged to $539 billion—up nearly 23% year over year—driven by substantial inflows, strategic acquisitions, and portfolio growth. The company’s fee-related earnings reached $644 million, a 14% year-over-year increase, while distributable earnings grew 9% to $619 million. Brookfield’s operating leverage also enabled it to expand margins to 58%, a substantial improvement compared to earlier quarters. With favourable market conditions, the company will likely witness continued earnings growth in the quarters ahead. Brookfield is well-positioned to thrive in industries experiencing long-term growth cycles. Its investments in renewable energy, data centres, and AI infrastructure provide a unique edge in capitalizing on multi-decade investment trends. The company is also ramping up its credit business, recently consolidating all its credit operations under the new Brookfield Credit division. This segment now represents $245 billion in fee-bearing capital, with ambitious plans to grow to $600 billion within five years. Brookfield has set its sights on doubling its business size within five years, targeting $1 trillion in fee-bearing capital. This expansion is expected to drive over 15% annual growth in earnings and dividends, fueled by the scaling of flagship funds, complementary strategies, and an enhanced credit platform. As the company’s capital base grows and margins expand, Brookfield expects fee-related earnings to reach $5 billion annually. Moreover, its portfolio will become increasingly stable, with long-term and perpetual capital projected to account for over 90% of total assets within five years. Brookfield will likely benefit from improved market conditions, including easing inflation, lower borrowing costs, and increased liquidity. These factors have bolstered transaction activity and asset monetization. In the last few months, Brookfield completed or signed deals for over $17 billion in asset sales and has a robust pipeline for further transactions. Brookfield Asset Management is a well-diversified, high-growth company poised to deliver reliable dividends and capital appreciation. Its strategic investments in renewable energy, infrastructure, and AI give it a significant competitive edge, while its strong liquidity and ambitious growth plans ensure long-term value creation. Overall, Brookfield Asset Management is a compelling choice for investors seeking exposure to high-growth financial services stocks.
How major US stock indexes fared Monday, 12/23/2024From the editor: I'm thankful this brand of smoked sausage is now sold in the TriadNone
Seahawks try for 7th straight win in series vs. Cards in crucial NFC West matchup
Church of Scientology Food Drive Makes Thanksgiving Special for 300 Local Families
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