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Swiss pharmaceutical giant Novartis (NVS) said it plans to invest $23 billion in the construction and expansion of 10 U.S. facilities, as drugmakers brace for potential tariffs from the Trump administration. The planned investment includes six new manufacturing plants and a San Diego-based research and development site to be built over the next five years. Two of the six plants, which Novartis said will manufacture cancer therapies, are slated to be built in Florida and Texas. Novartis said it expects the projects to create more than 4,000 American jobs, including 1,000 roles at the company. [snip] In February, rival drugmaker...

Shares of conservative news outlet Newsmax (NMAX.N), opens new tab soared more than 27% before the bell on Tuesday, extending their gains a day after a stunning debut on the New York Stock Exchange.The stock traded at $106, more than 10 times the IPO price of $10, valuing the cable news network at $12.8 billion.Newsmax's shares closed with a more-than-eight-fold gain at $83.51 on Monday, partly buoyed by retail interest. The stock remained the top trending ticker on retail investor-focused social media stocktwits.com.The cable news operator, which raised $75 million in its "mini IPO" last week, is looking to expand...

The results are in: this time is not different. Indexing remains the optimal investment strategy. Every year S&P Global Ratings publishes reports comparing all actively managed investment funds with various stock indices. These reports are considered the gold standard for evaluating the performance of active fund management with their index-fund alternatives. The bottom line from the year-end 2024 report out this month is that there were no surprises. US passive index funds in 2024 outperformed about two-thirds of actively managed funds. That is consistent with past results that also show that one-third of the managers who outperform in any single...

Nvidia, the world’s undisputed leader in chipmaking, says it will invest hundreds of billions of dollars over the next four years on its U.S.-based manufacturing operations — part of the manufacturing renaissance under President Donald J. Trump as he solidifies the U.S. as the global leader in artificial intelligence.“Having the support of an administration who cares about the success of this industry and not allowing energy to be an obstacle is a phenomenal result for AI in the U.S.,” said Nvidia CEO Jensen Huang.Here’s what they’re saying:Axios: “It’s another win for President Trump’s push to increase U.S. manufacturing, with a...

The United Arab Emirates (UAE) has committed to a 10-year, $1.4 trillion “investment framework” in the U.S., the White House announced Friday. The new framework “will substantially increase the UAE’s existing investments in the U.S. economy in AI infrastructure, semiconductors, energy, and American manufacturing,” according to the administration. The UAE committed to the investments after President Trump hosted the UAE’s national security adviser, Sheikh Tahnoon bin Zayed, and the heads of major UAE sovereign wealth funds and corporations for a meeting in the Oval Office earlier this week. Among the investments under the framework, the UAE investment fund ADQ and...

Trump Media & Technology Group (DJT) stock opened as much as 12% higher on Wednesday after the company announced it would expand into financial services, including cryptocurrency funds and other investment vehicles like customized exchange-traded funds. According to a press release, the company will invest as much as $250 million into the rollout, which will launch under the brand name Truth.Fi. That investment, which is less than a third of the company's total cash pile of $700 million, will be kept under the custody of Charles Schwab. Schwab will also "broadly advise" on investments and strategies. Trump Media, which operates...

Last month, during the thick of the holidays, I found myself in a rare though not totally unprecedented predicament: I wasn’t sure which way to bet on the stock market in the year ahead. In my December column, I told you there were three possible 2025 outcomes – all of them seemingly likely, and to a vexingly similar degree. I also told you that I’d come back to you when I could conclude which is, in fact, the most likely. Well, I’m back – and with an answer that has surprised me in more ways than one. Recall the three...

President-elect Trump announced Tuesday that Emirati billionaire Hussain Sajwani plans to invest $20 billion in the United States “over a very short period of time” to build data centers across the country. The investment will support the construction of new data centers in the Midwest and Sun Belt regions, with the first phase of the project focusing on Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan and Indiana. The influx of funds will help “keep America on the cutting edge of technology,” Trump said at a press conference at Mar-a-Lago. “Artificial intelligence is very big into the data centers, and that’s...

As of December 27, Joe Biden ranks ninth among U.S. presidents (post 1928) in stock-market performance. That’s not likely to change in the last few days of his term. Bill Clinton remains the champion, with a 17.49% annual return for the Standard & Poor’s 500 Total Return Index during his presidency in January 1993 to January 2001. He managed to balance the federal budget (with help from the Internet boom), and to avoid major wars and recessions. President-Elect Donald Trump, in his first term, saw the stock market return 15.95% per year. As he likes to point out, he was...

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A little over a year after my husband and I bought our house, we refinanced our mortgage. Refinancing means paying closing costs again, but we'll break even after just four years. We could pay off our 30-year mortgage in just 23 years with the money we save, but we're putting it in a brokerage account...... The pros and cons of refinancing our mortgage Refinancing has pros and cons, and the decision to do so was one we didn't take lightly. One of the cons is that you typically have to repay closing costs. Anyone who has closed on a home...

Key Points AMD said on Wednesday that it will lay off 4% of its global staff. AMD had 26,000 employees at the end of last year, according to a U.S. Securities and Exchange Commission filing. AMD is the second-biggest producer of graphics processing units, or GPUs, behind Nvidia. ============================================================= AMD said on Wednesday that it will lay off 4% of its global staff as the longtime computer chipmaker seeks to gain a stronger foothold in the growing artificial intelligence chip space dominated by Nvidia. ″As a part of aligning our resources with our largest growth opportunities, we are taking a...

Stock futures surged and Treasury yields climbed sharply after Donald Trump’s decisive election victory, as traders piled into trades that are seen as aligning with the former president and president-elect’s economic agenda. Investors scrambled to position themselves for new tariffs, tax cuts, and big shifts in energy and regulatory policy. Futures on all three major indexes advanced in premarket trading. S&P 500 futures rose over 2 percent, while the Dow Jones Industrial Average futures gained close to 3 percent and the Nasdaq Composite climbed 1.3 percent. The Russell 2000—a barometer for smaller, economically sensitive companies—rallied nearly 6 percent, reflecting optimism...

For the last 15 years, all you've needed to do to achieve double-digit returns on your money was park it in an S&P 500 index fund, reinvest dividends, and forget about it. That happy ride may be over, according to a new note from Goldman Sachs that has Wall Street abuzz.The big picture: The S&P is on track to return only about 3% a year in the coming decade, Goldman's portfolio strategy group estimates. Compare that to 13% average annual returns over the last ten years.Goldman's forecast implies the S&P — the benchmark index tracked by many of the world's...

Follow the reaction in financial markets as results from the 2024 election roll in.

The massive run up in shares of DJT, the stock symbol for Donald J. Trump’s social media company Truth Social, has been described by me and others as a meme-induced phenomenon. The stock is buoyed by what some might say is an irrational degree of exuberance that Trump will win the presidential election – which in turn would, somehow, be great for the bottom line of a money-losing platform that will face stiff competition and a difficult business environment whether or not Trump takes the White House But there definitely is talk swirling around Trump World, including people who hang...

The stock has surged more than 340% since hitting a low of $11.75 a share in September. Tuesday's spike came as the Nasdaq Composite Exchange, where Trump Media shares trade, rose 0.9% and stayed on track to close the day at a record high. While the polls show that the presidential race is extremely close, the betting markets such as Polymarket are now predicting that Trump is favored to win the election. "The price of DJT closely mirrors Trump's chances in prediction markets," S3 analysts said Tuesday in a note to investors. While Polymarket last week said a sole French...

Stock Chart - Five week performance - $12 to $46 - Somebody thinks Donald J. Trump is going to win the election?

Trump Media & Technology Group stock (DJT) hit its highest level since July on Tuesday, rising as much as 10% as investors bet on former President Donald Trump's improved odds of winning the November election in exactly two weeks. Shares in the company, the home of the Republican nominee's social media platform Truth Social, have seen a recent surge as both domestic and overseas betting markets shift in favor of a Trump victory, with prediction sites like Polymarket, PredictIt, and Kalshi all showing Trump's presidential chances ahead of those of Democratic nominee and current Vice President Kamala Harris. National polls,...