CNBC’s Jim Cramer said Wednesday investors aren’t abandoning artificial intelligence or technology stocks altogether — they’re ditching expensive stocks. “There’s no revulsion to the data center or AI stocks or even momentum plays, it’s just that when bond yields go up, money managers dump their expensive stocks and swap into cheaper ones,” the “Mad Money”…
The NBA on Wednesday said it had suspended Los Angeles Clippers owner Steve Ballmer for one year as part of a broad array of sanctions on the basketball team and two senior executives for violating the league’s salary cap circumvention rules related to star player Kawhi Leonard and four companies that did business with the…
Broadcom CEO Hock Tan speaks at the digital X event in Cologne, Germany, on Sept. 13, 2022. Ying Tang | Nurphoto | Getty Images Broadcom shares edged up 2% in extended trading on Wednesday after the chipmaker issued a rosy forecast for the next fiscal year and hinted at growing business with artificial intelligence labs….
Microsoft CEO Satya Nadella speaks at the Microsoft AI Tour in Sydney on April 23, 2026. George Chan | Getty Images News | Getty Images Microsoft will start disclosing quarterly revenue for its Azure cloud business for the first time, providing investors with a clearer picture of its business that competes with Amazon Web Services…
Mike Trout of the Los Angeles Angels makes a diving catch on a ball off the bat of Petey Halpin of the Cleveland Guardians during the fourth inning at Angel Stadium in Anaheim, California, Aug. 25, 2026. Scott Strazzante | Getty Images Stan Kroenke has agreed to buy the Los Angeles Angels from the Moreno…
U.S. President Donald Trump attends a healthcare affordability event in the Oval Office at the White House on Aug. 31, 2026 in Washington, DC. Kevin Dietsch | Getty Images President Donald Trump on Wednesday floated renaming the Strait of Hormuz — the central point of contention in the ongoing war against Iran that the U.S….
New York Federal Reserve President John Williams said Wednesday that the recent surge in Treasury yields is the product of a strong economy, not market dysfunction. The central bank policymaker added in a CNBC interview that he’s still absorbing economic data, and did not commit on whether he thinks an interest rate hike is necessary….
Oil prices rose Wednesday after the U.S. and Iran traded military strikes, ending weeks of relative calm in the Middle East, as they contest control of the Strait of Hormuz. Brent crude futures, the international benchmark, were up 1% to $95.57 per barrel. U.S. West Texas Intermediate traded nearly 1% higher at $90.88 per barrel. The U.S….
Southwest Airlines planes get ready to take off from Denver International Airport in Denver, Colorado on Nov. 6, 2025. Rj Sangosti | MediaNews Group | The Denver Post | Getty Images Southwest Airlines on Wednesday unveiled plans for its network of airport lounges that it’s been hinting at for months. The carrier said its first…
The Bank of Canada has held interest rates, amid the prospect of weaker growth and higher inflation, thanks to the retaliatory tariff blitz that followed the collapse of U.S. trade negotiations. The central bank decided to hold its key rate at 2.25% at its September meeting, it announced Wednesday, despite citing elevated energy prices resulting…
