Jim Cramer on what it means to declare China a currency manipulatorThe U.S. Treasury Department on Monday designated China as currency manipulator, a historic move that no White House had exercised since the Clinton administration."Secretary Mnuchin, under the auspices of President Trump, has today determined that China is a Currency Manipulator," the Treasury Department said in a release. "As a result of this determination, Secretary Mnuchin will engage with the International Monetary Fund to eliminate the unfair competitive advantage created by China's latest actions."The formal...…Jim Cramer on what it means to declare China a currency manipulatorThe U.S. Treasury Department on Monday designated China as currency manipulator, a historic move that no White House had exercised since the Clinton administration."Secretary Mnuchin, under the auspices of President Trump, has today determined that China is a Currency Manipulator," the Treasury Department said in a release. "As a result of this determination, Secretary Mnuchin will engage with the International Monetary Fund to eliminate the unfair competitive advantage created by China's latest actions."The formal...WW…

In this articleStocks rise after record jump in retail sales as a record jump in retail sales — coupled with positive trial results from a potential coronavirus treatment and hopes of more stimulus — sent market sentiment soaring. The closed 526.82 points higher, or 2%, at 26,289.98. The S&P 500 gained 1.9% to end the day at 3,124.74 while the Nasdaq Composite climbed 1.8% to 9,895.87. It was the third straight gain for the major averages. The U.S. government reported increase in retail sales for May. Economists polled by Dow Jones expected a gain of 7.7%. President Donald...…In this articleStocks rise after record jump in retail sales as a record jump in retail sales — coupled with positive trial results from a potential coronavirus treatment and hopes of more stimulus — sent market sentiment soaring. The closed 526.82 points higher, or 2%, at 26,289.98. The S&P 500 gained 1.9% to end the day at 3,124.74 while the Nasdaq Composite climbed 1.8% to 9,895.87. It was the third straight gain for the major averages. The U.S. government reported increase in retail sales for May. Economists polled by Dow Jones expected a gain of 7.7%. President Donald...WW…

Key PointsTreasury Secretary on Wednesday touted the Biden administration's proposed changes to the corporate tax code and said in detail that the plan would be fairer, reduce incentives for companies to shift factories and income overseas, and generate revenues for domestic priorities.Treasury officials said the Made In America tax plan, tied to President 's $2 trillion infrastructure overhaul, would recoup about $2 trillion in corporate profits into the U.S. currently derived overseas.Estimates calculated by the Treasury Department and the Joint Committee on Taxation found that fixing...…Key PointsTreasury Secretary on Wednesday touted the Biden administration's proposed changes to the corporate tax code and said in detail that the plan would be fairer, reduce incentives for companies to shift factories and income overseas, and generate revenues for domestic priorities.Treasury officials said the Made In America tax plan, tied to President 's $2 trillion infrastructure overhaul, would recoup about $2 trillion in corporate profits into the U.S. currently derived overseas.Estimates calculated by the Treasury Department and the Joint Committee on Taxation found that fixing...WW…

Key PointsIn this articleRep. Marjorie Taylor Greene bought $50K worth of shares of Trump SPAC Digital World AcquisitionRep. Marjorie Taylor Greene has invested up to $50,000 in the SPAC stock linked to former President planned social media platform.According to a public disclosure, the Georgia Republican purchased a stake in Digital World Acquisition Corp., or DWAC, on Friday. The stake is worth at least $15,000 but no more than $50,000.DWAC, a special purpose acquisition company, .That triggered a buying mania among retail investors in DWAC shares over two days last week, which drove...…Key PointsIn this articleRep. Marjorie Taylor Greene bought $50K worth of shares of Trump SPAC Digital World AcquisitionRep. Marjorie Taylor Greene has invested up to $50,000 in the SPAC stock linked to former President planned social media platform.According to a public disclosure, the Georgia Republican purchased a stake in Digital World Acquisition Corp., or DWAC, on Friday. The stake is worth at least $15,000 but no more than $50,000.DWAC, a special purpose acquisition company, .That triggered a buying mania among retail investors in DWAC shares over two days last week, which drove...WW…

Key PointsPresident top economic advisor on Monday defended a plan to raise the capital gains tax on the nation's wealthiest households as neither too large a burden nor a barrier to business investment.Brian Deese, director of the National Economic Council, said during a news conference that the president's plan would raise the capital gains tax for 0.3% of U.S. households — those that make more than $1 million in annual income.Capital Gains tax increase would impact 0.3% of taxpayers: WHIt's "not the top 1%, it's not even the top one-half of 1%," Deese said from the White House. "For the...…Key PointsPresident top economic advisor on Monday defended a plan to raise the capital gains tax on the nation's wealthiest households as neither too large a burden nor a barrier to business investment.Brian Deese, director of the National Economic Council, said during a news conference that the president's plan would raise the capital gains tax for 0.3% of U.S. households — those that make more than $1 million in annual income.Capital Gains tax increase would impact 0.3% of taxpayers: WHIt's "not the top 1%, it's not even the top one-half of 1%," Deese said from the White House. "For the...WW…

Key PointsIn this articleChief executives from companies including parent , , and are set to participate in a White House virtual summit on Monday addressing the global semiconductor shortage.The summit comes as the Biden administration , including those for semiconductors, high-capacity batteries, medical supplies and rare earth metals. The shortage of computer chips has implications for a range of industries, from producers of electric vehicles to medical supplies.Automobile manufacturers like GM and recently had to cut production estimates or extend downtime to deal with the shortage....…Key PointsIn this articleChief executives from companies including parent , , and are set to participate in a White House virtual summit on Monday addressing the global semiconductor shortage.The summit comes as the Biden administration , including those for semiconductors, high-capacity batteries, medical supplies and rare earth metals. The shortage of computer chips has implications for a range of industries, from producers of electric vehicles to medical supplies.Automobile manufacturers like GM and recently had to cut production estimates or extend downtime to deal with the shortage....WW…

Keep Me Logged InKey PointsSen. Kelly Loeffler of Georgia on Wednesday said that their individual stock share positions and related options after weeks of criticism of the Loeffler on Wednesday reiterated her defense of the prior stock sales as legally and ethically proper, and her claim that the couple's trading was handled by third parties authorized to buy and sell securities without telling the couple in advance.And she said that she and Sprecher, who is the chairman and CEO of , the company that owns the New York Stock Exchange, are selling off the individual shares not because she had...…Keep Me Logged InKey PointsSen. Kelly Loeffler of Georgia on Wednesday said that their individual stock share positions and related options after weeks of criticism of the Loeffler on Wednesday reiterated her defense of the prior stock sales as legally and ethically proper, and her claim that the couple's trading was handled by third parties authorized to buy and sell securities without telling the couple in advance.And she said that she and Sprecher, who is the chairman and CEO of , the company that owns the New York Stock Exchange, are selling off the individual shares not because she had...WW…

Key PointsNEC director Brian Deese: Biden administration is open to infrastructure bill negotiationsThe Biden administration will attempt to generate $2 trillion over 15 years to help fund a once-in-a-generation infrastructure plan through stricter corporate tax policies and a crackdown on offshoring.As part of the , President will on Wednesday propose a tax strategy that would increase the U.S. corporate tax rate to 28% from 21% in what would amount to a partial rollback of former President 2017 tax cuts.Biden's plan, if adopted, would also make it harder for multinational companies to...…Key PointsNEC director Brian Deese: Biden administration is open to infrastructure bill negotiationsThe Biden administration will attempt to generate $2 trillion over 15 years to help fund a once-in-a-generation infrastructure plan through stricter corporate tax policies and a crackdown on offshoring.As part of the , President will on Wednesday propose a tax strategy that would increase the U.S. corporate tax rate to 28% from 21% in what would amount to a partial rollback of former President 2017 tax cuts.Biden's plan, if adopted, would also make it harder for multinational companies to...WW…

Key PointsTransportation Sec. Pete Buttigieg on how to fund infrastructure planA vehicle mileage tax could be on the table in talks about how to finance the White House's expected multi-trillion-dollar infrastructure proposal, according to Transportation Secretary Pete Buttigieg.Buttigieg, who spoke with CNBC's Kayla Tausche on Friday, also contended that President Joe Biden's forthcoming plans to rebuild the nation's roads, bridges and waterways would lead to a net gain for the U.S. taxpayer and not a net outlay."When you think about infrastructure, it's a classic example of the kind of...…Key PointsTransportation Sec. Pete Buttigieg on how to fund infrastructure planA vehicle mileage tax could be on the table in talks about how to finance the White House's expected multi-trillion-dollar infrastructure proposal, according to Transportation Secretary Pete Buttigieg.Buttigieg, who spoke with CNBC's Kayla Tausche on Friday, also contended that President Joe Biden's forthcoming plans to rebuild the nation's roads, bridges and waterways would lead to a net gain for the U.S. taxpayer and not a net outlay."When you think about infrastructure, it's a classic example of the kind of...WW…

Stocks plunge as coronavirus fears accelerate—Here's what seven experts say investors should watchStocks plummeted once again on Thursday after President Donald Trump and the Federal Reserve both failed to quell concerns over the economic slowdown stemming from the coronavirus, leading to a historic drop for the U.S. markets.The  closed 2,352.60 points lower, or 9.99%, at 21,200.62. The index had its worst drop since the 1987 "Black Monday" market crash, when it collapsed by more than 22%.The  plummeted 9.5% to 2,480.64, joining the Dow in a bear market. The S&P 500...…Stocks plunge as coronavirus fears accelerate—Here's what seven experts say investors should watchStocks plummeted once again on Thursday after President Donald Trump and the Federal Reserve both failed to quell concerns over the economic slowdown stemming from the coronavirus, leading to a historic drop for the U.S. markets.The  closed 2,352.60 points lower, or 9.99%, at 21,200.62. The index had its worst drop since the 1987 "Black Monday" market crash, when it collapsed by more than 22%.The  plummeted 9.5% to 2,480.64, joining the Dow in a bear market. The S&P 500...WW…