President Donald Trump on Tuesday slammed former New York mayor and Democratic presidential candidate Michael Bloomberg as a “TOTAL RACIST” over a 2015 audio clip in which Bloomberg reportedly defends the controversial “stop and frisk” police practice. In the audio clip, Bloomberg reportedly said the vast majority of murderers and murder victims “fit one M.O. In November, however, Bloomberg changed his stance — just days before announcing he would run for president in the 2020 contest. In 1973,

Please refresh the page if you do not see a player above at that time.] Federal Reserve Chairman Jerome Powell appears Tuesday before the House Committee on Financial Services as part of his semiannual testimony to Congress. Powell said in prepared remarks that the Fed remains on hold in its interest rate stance following three cuts in 2019. Also, he said the central bank is continuing to watch developments regarding the coronavirus and its impact on global growth. Read more:Powell stresses that

UBS is reportedly racing to stanch outflows at its landmark $20 billion real-estate fund amid worries about its retail holdings and extended underperformance. The Swiss bank’s Trumbull fund owns real estate in Cambridge, including the CambridgeSide mall as well as properties across the country in New York, Chicago, Los Angeles and San Francisco. If real estate fund managers don’t have enough cash on hand to meet a small number of redemption requests, they may be forced to initiate the sale of pr

Under Armour joins a growing list of retailers that expect to take a hit because of the deadly coronavirus outbreak in China, calling for shipping delays and obstacles in obtaining certain fabrics for its athletic apparel. Under Armour said it expects the coronavirus outbreak in China to lower sales by roughly $50 million to $60 million during the fiscal first quarter. Under Armour is calling for sales to be down a low-single digit percentage in fiscal 2020. That includes a high-single-digit dro

(This story is for CNBC Pro subscribers only.) Technology companies with major supply chains through China could take a hit due to the coronavirus, D.A. Davidson’s Tom Forte said in a note to clients, but some stocks in the sector are well positioned to benefit from consumer patterns changed by the outbreak. The ongoing outbreak of the new coronavirus impacts consumer technology companies in many ways, both threatening key parts of the industry’s supply chain and rattling an economy that is a ke

The Royal Caribbean Cruise Ship Anthem of the Seas is docked at Cape Liberty port on February 7, 2020 in Bayonne, New Jersey. (This story is for CNBC Pro subscribers only.) Cruise lines will only recover from coronavirus pressure when the deadly virus exits the news cycle, according to Instinet. The firm said cruise line stocks should find a bottom once 2020 earnings estimates decline enough to reflect some reasonable estimate of the virus’s impact.

The new Tesla Model Y is introduced. Tesla has expanded its model range to include an SUV based on the current Model 3. Bernstein’s Toni Sacconaghi wrote in a note to investors on Tuesday that, at the surface level, demand for Tesla’s coming Model Y “appears promising.” The crossover electric vehicle offers Tesla the opportunity to tap into the high demand SUV market, which sees sales of over 700,000 vehicles in the U.S. per year according to Bernstein. But, despite the massive market potential,

Pivotal downgraded Facebook and said it had concerns over the deterioration of the social media company’s ad spending among other things. “We are not making a short-term call about 1Q20 – it is not clear to us that the company is going to miss 1Q20 revenue estimates. We do think that 2H US ad numbers look a bit too high and that lacking something transformative, they certainly are for 2021. Campaign Bid Optimization should act as an ongoing tailwind for the business, but it was also in play duri

Tourists take a picture with the market bull near the New York Stock Exchange in New York City. For decades investing legend Bob Farrell was a top Wall Street strategist known for predicting changes in overall stock market direction. Farrell, 88, was the chief stock market analyst and senior investment advisor at Merrill Lynch, where he worked for 45 years. His 10 trusty rules are still passed around on Wall Street and ring true to the current bull market, which marks the longest expansion in U.

“Throughout my whole working life it’s been, I have to make money so I don’t have to ask my parents for money,” says Jenny. I’m making six figures, of course I’m going to support them. “I’m making six figures, of course I’m going to support them.” Her father took most of the money, Sarah says, along with the house, leaving her mother with virtually no safety net. “As of now, economically speaking, I don’t see it being possible for her to step out on her own and plan for retirement,” Howard tells

Hospitality group OTG CEO on partnering with Starbucks to improve airport experienceRick Blatstein, CEO of airport hospitality group OTG, joins “Squawk on the Street” to discuss the company’s recently announced partnership with Starbucks to reimagine the customer experience across the country.

The Federal Reserve is “closely monitoring” the coronavirus, its impact on China and the effect that it could have on global economic growth, Chairman Jerome Powell said Tuesday. In his semiannual testimony before Congress, Powell said the new threat comes just as trade uncertainties have diminished, though the U.S. economy appears “resilient” to global headwinds. Despite the threat from the virus, he said Fed policy is well positioned after a series of rate cuts in 2019. He did, though, express

Vermont Sen. Bernie Sanders is favored to win the New Hampshire Democratic primary Tuesday, but markets give him low odds of winning the White House and are betting on a victory by President Donald Trump. Analysts said the primary will be important, however, because it could add some clarity to the path of moderate candidates running against the left-leaning Sanders. It may also give an early look at where former New York Mayor Michael Bloomberg might fit in, once he joins primary races on Super

And as the underlying level of reserves rises due to our bill purchases, the need for repo will decline. – Franck10:34 am: Dow hits recordThe Dow just joined the S&P 500 and the Nasdaq Composite at record levels, up more than 130 points to session highs. -Melloy9:30 am: Stocks open higherThe Dow Jones Industrial Average opened up 0.42% or more than 120 points on Tuesday. The S&P 500 rose 0.43% or 14 points and the Nasdaq Composite rose 50 points at the open. —Cox8:05 am: Dow set to rise more tha

Retail mogul Yusaku Maezawa has launched another competition, offering to invest a total of 10 billion Japanese yen ($91 million) in the businesses of 10 entrepreneurs. Any proposals which don’t pass the screening stage would be notified of the result with written comment from Maezawa, the website stated. In separate tweets, Maezawa explained that the 1 billion Japanese yen was just a guide of investment per business and that the “Maezawa fund” could allocate as much as 3 billion yen to each com

Italian-backed GKSD confirmed Tuesday that it could bid for the United Arab Emirates’ largest private health care company, but KKR promptly ruled itself out, sending NMC’s shares 17% lower. In a separate announcement, NMC Health said a legal review was underway to verify the total interests in the company of major shareholder B.R. Shetty and his associated family members and holding companies, amid concerns over incorrect disclosures to both the company and the market. NMC Health has been under

Beyond Meat “Beyond Burger” patties made from plant-based substitutes for meat products sit on a shelf for sale on November 15, 2019 in New York City. Prince Khaled’s father is Prince Alwaleed bin Talal, the Saudi billionaire investor and chairman of Kingdom Holding, who has often been described as Saudi Arabia’s Warren Buffett. Alternative meat companies like Los Angeles-based Beyond Meat are grabbing headlines and generating shareholder returns. Beyond Meat, which specializes in plant-based me

The U.K. government has signed off on a high-speed rail line that was first announced more than a decade ago. HS1 is Britain’s only current high-speed rail track linking London to the Channel Tunnel, which connects the country to France. A second stage of the line will connect Birmingham to Leeds and Manchester, but would not be completed before 2035. Rukin said the rising costs of the project were always known by people who were likely to gain government contracts to build the line. “People wit

German online bank N26 has told customers it’s pulling out of the U.K. because it won’t have a license to operate there after Brexit. At the time, N26 CEO Valentin Stalf told CNBC the move was a “no-brainer for us, independent of Brexit.” “Therefore, we are writing to share the news that we will be leaving the U.K. and closing all accounts.” When it arrived in the U.K., the country was already home to a multitude of banking start-ups including Monzo, Revolut and Starling. Overall, the neobank ha

Jeff Bezos continues to cash out his Amazon shares. The Amazon CEO sold $579.8 million worth of shares on Friday, according to filings with the Securities and Exchange Commission. That’s after he sold $1.65 billion worth of shares last Tuesday and Wednesday, as well as unloaded $1.8 billion worth of shares between Jan. 31 and Feb. 3, according to SEC filings. That means he’s sold roughly $4.1 billion shares in the past week. Last August, Bezos sold about $2.8 billion worth of Amazon shares.