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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. 1. The S & P 500 edged higher on Wednesday, reversing course after being down earlier in the session. The broader market was under pressure from tech weakness, notably Microsoft , which fell 2% after The Information reported that it had lowered its AI software sales quotas. A Microsoft spokesperson told CNBC the company has not lowered sales quotas or targets for its salespeople. Investors shook off signs of a U.S. labor market slowdown after…
The dollar fell for a ninth consecutive session on Wednesday as traders strengthened their bets on a Federal Reserve rate cut, driven by softer US economic data and growing expectations of a more dovish stance from the central bank. Fed Governor Christopher Waller said last week that the labor market had weakened enough to justify another quarter-point cut in December, while Kevin Hassett — a senior White House economic adviser — has emerged as the leading contender to become the next Fed Chair. President Donald Trump said he will announce his choice for Fed Chair in early 2026.…
When a full-scale model of the world’s first independent submarine hunter drone was unveiled at the Dubai Airshow last month, it offered a glimpse of the latest in a series of advances in China’s development of a modern integrated anti-submarine system.The Wing Loong-X export variant unmanned aerial vehicle (UAV) has anti-submarine capabilities that are reportedly superior in some respects to the United States Navy’s Boeing P-8 Poseidon and other manned aircraft.The full-scale model drone’s appearance in Dubai followed official confirmation that the Chinese navy’s latest ship-based anti-submarine helicopter, the Z-20F, was on board the aircraft carrier Fujian, commissioned earlier in…
The dollar fell for a ninth consecutive session on Wednesday as traders strengthened their bets on a Federal Reserve rate cut, driven by softer US economic data and growing expectations of a more dovish stance from the central bank. Fed Governor Christopher Waller said last week that the labor market had weakened enough to justify another quarter-point cut in December, while Kevin Hassett — a senior White House economic adviser — has emerged as the leading contender to become the next Fed Chair. President Donald Trump said he will announce his choice for Fed Chair in early 2026.…
My top 10 things to watch Wednesday, Dec. 3 1. Stocks reversed course this morning and were headed for a lower open after a report in The Information said that Microsoft was lowering AI software sales quotas. Elsewhere, ADP data for November showed U.S. companies cut 32,000 workers versus estimates for a gain of 40,000. The market believes the Fed will cut interest rates next week. If that happens, it would be the third rate cut this year. 2. CrowdStrike ‘s beat-and-raise quarter last night was not enough to power shares higher. The stock, off 1% this morning, was still…
As it fights to survive in the new era of economic warfare, the European Union wants to turbo-boost efforts to de-risk its ties with China, using two new proposals.Launched on Wednesday, the blueprints will combine to upgrade the bloc’s economic arsenal and unpick its heavy reliance on China for critical minerals, including rare earths.The first, an economic security communication, will provide the EU with an “operating system” on which to manage its many trade, competition and economic weapons – that could be used to punch back against coercion, bullying or the weaponisation of dependencies.Building on the bloc’s first economic security…
Shanghai has launched a crackdown on online content that talks down the property market, as the sector remains mired in a prolonged downturn and two leading data providers pull back on releasing updated sales figures for China’s top developers.The Shanghai branch of the Cyberspace Administration of China said it had instructed platforms including RedNote and Bilibili – often dubbed China’s answer to Instagram and YouTube – to remove content deemed to be spreading misleading or alarmist information about the real estate market.The “special campaign” – which began in mid-November – had already led to the removal of 40,000 posts and…
The dollar fell for a ninth consecutive session on Wednesday as traders strengthened their bets on a Federal Reserve rate cut, driven by softer US economic data and growing expectations of a more dovish stance from the central bank. Fed Governor Christopher Waller said last week that the labor market had weakened enough to justify another quarter-point cut in December, while Kevin Hassett — a senior White House economic adviser — has emerged as the leading contender to become the next Fed Chair. President Donald Trump said he will announce his choice for Fed Chair in early 2026.…
The legal battle over the death of Chinese-American neuroscientist Jane Wu officially began in a Chicago courtroom this week – a case that has shaken the research community and focused intense scrutiny on Northwestern University’s conduct.A civil lawsuit filed by Wu’s family in June centres on how the university handled one of its most accomplished professors during the controversial “China Initiative”, alleging her suicide in July 2024 was a direct result of the school’s treatment amid the investigations.Northwestern’s lawyers on Monday informed Cook County Judge Jonathan Green that the university had already moved to dismiss the case.Relatives have accused Northwestern…
KYIV, Ukraine (AP) — Exclusive drone footage obtained by The Associated Press on Wednesday shows a devastated Ukrainian town nearly encircled by Russian forces near the city that Moscow this week claimed to now control.Barely a street appears to be untouched in Myrnohrad in Ukraine’s eastern Donetsk region, 12 kilometers (7 miles) from the key logistics hub of Pokrovsk. Some destruction is so fresh that smoke was still rising in the footage shot in the past few days.“They are trying to simply erase the (town) from the face of the earth,” said Oleksii Hodzenko, press officer of the drone battalion…