Megan Hart

The U.S. job market showed mixed signals in October, as job postings increased while hiring fell, according to data released Tuesday by the Bureau of Labor Statistics (BLS). The report, part of the Job Openings and Labor Turnover Survey (JOLTS), revealed a complex picture of the jobs landscape during a month in which overall job growth hit its lowest point in nearly four years. Employers reported 7.74 million job postings in October, an increase of 372,000 from September and beating estimates by 7.5 million. This increased the job vacancy rate to 4.6%, up from 4.4% the previous month. Despite the…

A red hat reading “Keep America Great” perched on a Christmas tree during a rally in Michigan in December 2019 symbolized the intersection of politics and culture in the United States. Four years later, the 2024 presidential election has once again drawn a sharp line through consumer sentiment, reflecting the confidence – or concerns – of voters as the holiday shopping season begins. Black Friday, the unofficial start of the holiday shopping season, is taking on a new tone this year as political divisions creep into consumer behavior. CNBC spoke to shoppers across the country, including Texas, Michigan, New Jersey,…

Scott Bessent, founder and CEO of Key Square Group LP, has been tapped by President-elect Donald Trump for the crucial role of Treasury secretary. The news has already sparked optimism in financial markets, with stock futures rising and Treasury yields falling early Monday. This reaction followed Friday's announcement that Trump intended to name Bessent, a seasoned Wall Street figure, as his administration's top economic policymaker. The appointment sends a clear signal of Trump's commitment to putting someone with extensive market experience and a shared economic philosophy at the helm of the Treasury Department. Analysts widely praised the decision, noting that…

US-China economic relations are facing new uncertainties after President-elect Donald Trump announced plans to impose an additional 10% tariff on all Chinese imports. The announcement, made on its social media platform Truth Social, signals a significant escalation in trade tensions between the world's two largest economies. Trump's statement came shortly after he revealed his intention to enact a 25% tariff on all imports from Mexico and Canada as one of his first executive actions on Jan. 20, the day he took office. This move is expected to effectively dismantle the existing regional free trade agreement between the three nations. Trump…

Databricks, one of the world's most valuable private technology companies, is raising billions of dollars in new funding as it chooses to delay its long-awaited public offering, sources familiar with the matter told CNBC. The San Francisco-based company is reportedly securing at least $5 billion in its latest funding round, with the potential to raise as much as $8 billion as discussions progress. This new round would push Databricks' valuation to $55 billion, making it one of the most valuable private technology companies globally. The funding round, according to insiders, is partly designed to allow employees to sell shares, easing…

President-elect Donald Trump announced Friday his plan to nominate Scott Bessent, founder and CEO of Key Square Group LP, as Treasury secretary. The move places a seasoned hedge fund executive and Trump ally in a key role within the new administration's economic strategy. Bessent's appointment highlights Trump's focus on appointing market-savvy figures to guide the country's economic policy. Bessent, 62, has emerged as a strong contender for the position alongside names such as former Federal Reserve governor Kevin Warsh and private equity executive Marc Rowan. Known as a Wall Street heavyweight, Bessent brings decades of financial experience to the table…

As President-elect Donald Trump prepares to return to the White House in January, a potential clash with Federal Reserve Chairman Jerome Powell looms on the horizon, largely dependent on evolving economic conditions. If inflation rises and the economy overheats, the Fed may feel forced to slow the pace of interest rate cuts or even keep them stable. Such a move could put Powell on a collision course with Trump, who has historically criticized the Fed for not easing monetary policy quickly enough. This potential tension is not new. Powell, appointed Fed chair by Trump in 2018, often found himself at…

President-elect Donald Trump announced Robert F. Kennedy Jr., a longtime vaccine skeptic and former independent presidential candidate, as his nominee to head the Department of Health and Human Services (HHS). The decision, revealed Thursday, sparked widespread apprehension in the public health community and left the pharmaceutical and biotech industries braced for potential upheaval. Kennedy, a polarizing figure because of his controversial views on vaccines and public health policies, will need Senate confirmation to assume the role. However, Trump has hinted at the possibility of bypassing the confirmation process by making a suspension appointment if necessary. If confirmed, Kennedy would oversee…

As President-elect Donald Trump prepares to take office in January, he is expected to reinstate key elements of his previous economic platform, including tariffs, tax cuts and sanctions. Steven Mnuchin, who served as Treasury Secretary during Trump's first term, discussed these priorities in a recent interview with CNBC. Key components of Trump's economic strategy Tax cutsMnuchin stressed that tax cuts will remain a “distinctive part” of Trump's agenda. He expressed confidence that passing tax reforms in Congress should be easy, especially if Republicans maintain control of the House. RatesThe former Treasury secretary reiterated Trump's commitment to using tariffs as a…

Rocket Lab recently made headlines with the announcement of significant third-quarter results, which led to a surge in its shares in after-hours trading. The space infrastructure company reported a notable increase in revenue, reaching $104.8 million, a 55% increase from $67.6 million in the same period last year. This figure exceeded Wall Street expectations, which expected revenue of approximately $102 million. Despite the impressive revenue growth, Rocket Lab reported a widening net loss, which grew to $51.9 million from $40.6 million a year earlier. However, the company's loss was 10 cents per share, slightly better than analysts' forecasts of a…